Document:

Exhibit 4.1

 

 

 

 

 

GAIN
CAPITAL HOLDINGS, INC.

 

AS ISSUER

 

5.00%
CONVERTIBLE SENIOR NOTES DUE 2022

 

_____________________

 

INDENTURE

 

DATED
AS OF AUGUST 22, 2017

 

_____________________

 

THE
BANK OF NEW YORK MELLON

 

AS TRUSTEE

 

 

 

 

     

     

    

TABLE
OF CONTENTS

 

Page

	Article
    I

DEFINITIONS AND INCORPORATION BY REFERENCE
	Section
    1.01   Definitions	1
	Section
    1.02   Other Definitions	10
	Section
    1.03   Rules of Construction	11
	Section
    1.04   Acts of Holders	12
	Article
    II

THE NOTES
	Section
    2.01   Designation, Amount and Issuance of Notes	13
	Section
    2.02   Form of Notes	13
	Section
    2.03   Denomination of Notes	15
	Section
    2.04   Payments	15
	Section
    2.05   Execution and Authentication	17
	Section
    2.06   Registrar, Paying Agent and Conversion Agent	18
	Section
    2.07   Money and Securities Held in Trust	20
	Section
    2.08   Holder Lists	20
	Section
    2.09   Transfer and Exchange	20
	Section
    2.10   Transfer Restrictions	24
	Section
    2.11   Replacement Notes	27
	Section
    2.12   Temporary Notes	27
	Section
    2.13   Cancellation	28
	Section
    2.14   Outstanding Notes	28
	Section
    2.15   Persons Deemed Owners	29
	Section
    2.16   Repurchases	29
	Section
    2.17   CUSIPs	29
	Article
    III

REPURCHASE AT THE OPTION OF THE HOLDER
	Section
    3.01   Fundamental Change Permits Holders to Require the Company to Repurchase the Notes	29
	Section
    3.02   Fundamental Change Notice	30
	Section
    3.03   Fundamental Change Repurchase Notice	31
	Section
    3.04   Withdrawal of Fundamental Change Repurchase Notice	32
	Section
    3.05   Effect of Fundamental Change Repurchase Notice	33
	Section
    3.06   Notes Repurchased in Part	34
	Section
    3.07   Covenant to Comply With Securities Laws Upon Repurchase of Notes	34

 

     

     

    

 

	Section
    3.08   Deposit of Fundamental Change Repurchase Price	35
	Section
    3.09   Covenant Not to Repurchase Notes During a Continuing Acceleration With Respect to the Notes	35
	Article
    IV

COVENANTS
	Section
    4.01   Payment of Notes	35
	Section
    4.02   144A Information	36
	Section
    4.03   Reports	36
	Section
    4.04   Additional Interest	36
	Section
    4.05   Compliance Certificate	37
	Section
    4.06   Restriction on Purchases by the Company and by Affiliates of the Company	38
	Section
    4.07   Additional Amounts.	38
	Section
    4.08   Corporate Existence	41
	Section
    4.09   Stay, Extension and Usury Laws	41
	Article
    V

CONSOLIDATION, MERGER AND SALE OF ASSETS
	Section
    5.01   Company May Consolidate, Merge or Sell Its Assets Only on Certain Terms	41
	Section
    5.02   Successor Substituted	42
	Article
    VI

DEFAULTS AND REMEDIES
	Section
    6.01   Events of Default	42
	Section
    6.02   Acceleration	44
	Section
    6.03   Other Remedies	45
	Section
    6.04   Sole Remedy for Failure to Report	45
	Section
    6.05   Waiver of Past Defaults	46
	Section
    6.06   Control by Majority	47
	Section
    6.07   Limitation on Suits	47
	Section
    6.08   Rights of Holders To Receive Payment	47
	Section
    6.09   Collection Suit by Trustee	48
	Section
    6.10   Trustee May File Proofs of Claim	48
	Section
    6.11   Priorities	48
	Section
    6.12   Undertaking for Costs	49

 

    ii

     

    

 

	Article
    VII

TRUSTEE
	Section
    7.01   Duties of Trustee	49
	Section
    7.02   Rights of Trustee	50
	Section
    7.03   Individual Rights of Trustee	52
	Section
    7.04   Trustee’s Disclaimer	52
	Section
    7.05   Notice of Defaults	52
	Section
    7.06   Compensation and Indemnity	52
	Section
    7.07   Replacement of Trustee	53
	Section
    7.08   Successor Trustee by Merger	54
	Section
    7.09   Eligibility; Disqualification	55
	Section
    7.10   Trustee’s Application for Instructions from the Company	55
	Section
    7.11   Withholding	55
	Article
    VIII

SATISFACTION AND DISCHARGE
	Section
    8.01   Discharge of Liability on Notes	55
	Section
    8.02   Repayment to the Company	56
	Article
    IX

AMENDMENTS, SUPPLEMENTS AND WAIVERS
	Section
    9.01   Without Consent of Holders	56
	Section
    9.02   With Consent of Holders	57
	Section
    9.03   Execution of Supplemental Indentures	58
	Section
    9.04   Notices of Supplemental Indentures	58
	Section
    9.05   Effect of Supplemental Indentures	58
	Section
    9.06   Revocation and Effect of Consents, Waivers and Actions	59
	Section
    9.07   Notation on, or Exchange of, Notes	59
	Article
    X

CONVERSIONS
	Section
    10.01   Right To Convert	59
	Section
    10.02   Conversion Procedures	62
	Section
    10.03   Settlement Upon Conversion.	64
	Section
    10.04   Common Stock Issued Upon Conversion	66
	Section
    10.05   Adjustment of Conversion Rate	67
	Section
    10.06   Voluntary Adjustments	76
	Section
    10.07   Adjustments Upon a Make-Whole Fundamental Change	76
	Section
    10.08   Effect of Recapitalization, Reclassification, Consolidation, Merger or Sale	79

 

    iii

     

    

 

	Section
    10.09   No Responsibility of Trustee or Conversion Agent	81
	Section
    10.10   Exchange in Lieu of Conversion	82
	Article
    XI

REDEMPTION AT THE OPTION OF THE COMPANY
	Section
    11.01   No Sinking Fund	82
	Section
    11.02   Right To Redeem the Notes	82
	Section
    11.03   Redemption Notice	83
	Section
    11.04   Effect of Redemption Notice	84
	Section
    11.05   Deposit of Redemption Price	84
	Section
    11.06   Effect of Deposit	84
	Section
    11.07   Covenant Not to Redeem Notes During a Continuing Acceleration With Respect to the Notes	85
	Section
    11.08   Repayment to the Company	85
	Article
    XII

MISCELLANEOUS
	Section
    12.01   Notices	85
	Section
    12.02   Certificate and Opinion as to Conditions Precedent	87
	Section
    12.03   Statements Required in Certificate or Opinion	87
	Section
    12.04   Separability Clause	87
	Section
    12.05   Rules by Trustee	87
	Section
    12.06   Governing Law and Waiver of Jury Trial	87
	Section
    12.07   No Recourse Against Others	88
	Section
    12.08   Calculations	88
	Section
    12.09   Successors	88
	Section
    12.10   Multiple Originals	88
	Section
    12.11   Table of Contents; Headings	88
	Section
    12.12   Force Majeure	89
	Section
    12.13   Submission to Jurisdiction	89
	Section
    12.14   Legal Holidays	89
	Section
    12.15   No Security Interest Created	89
	Section
    12.16   Benefits of Indenture	89
	Section
    12.17   U.S.A. Patriot Act	89

 

	Form of Note	A-1
	Form of Transfer Certificate	B-1
	Form of Restricted Stock Legend	C-1

 

     iv

     

    

INDENTURE,
dated as of August 22, 2017, between GAIN Capital Holdings, Inc., a Delaware corporation (the “Company”), and The
Bank of New York Mellon, a New York banking corporation, as trustee (“Trustee”).

 

Each party
agrees as follows for the benefit of the other party and for the equal and ratable benefit of the Holders (as defined below) of
the Company’s 5.00% Convertible Senior Notes due 2022:

 

Article
I

DEFINITIONS AND INCORPORATION BY REFERENCE

 

Section 1.01    
Definitions.

 

“Affiliate”
of any specified Person means 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 specified Person, means the power to direct or cause the direction of 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.

 

“Applicable
Procedures” means, with respect to any transfer or transaction involving a Global Note or any beneficial interest therein,
the rules and procedures of the Depositary for such Note, in each case to the extent applicable to such transfer or transaction
and as in effect from time to time.

 

“Bankruptcy
Law” means Title 11, United States Code, or any similar U.S. federal, state or non-U.S. law for the relief of debtors.

 

“Bid
Solicitation Agent” means the Person who shall solicit and obtain bids for the Trading Price in accordance with ‎Section
10.01(b)(ii) and the definition of Trading Price set forth herein. The initial Bid Solicitation Agent shall be the Company, and
the Company shall have the right to thereafter appoint any other Person to be the Bid Solicitation Agent without prior notice.

 

“Board
of Directors” means the board of directors of the Company or a committee of such board duly authorized to act for it.

 

“Board
Resolution” means a copy of one or more resolutions certified by the Secretary or an Assistant Secretary of the Company
to have been duly adopted by the Board of Directors and to be in full force and effect on the date of such certification, and
delivered to the Trustee.

 

“Business
Day” means any day other than a Saturday, a Sunday or a day on which the Federal Reserve Bank of New York is authorized
or required by law or executive order to close or be closed.

 

     

     

    

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

 

“Close
of Business” means 5:00 p.m., New York City time.

 

“Common
Stock” means the shares of the common stock of the Company, par value $0.00001 per share, subject to ‎Section 10.08
hereof.

 

“Company”
means the party named as such in the first paragraph of this Indenture until a successor or assignee replaces it pursuant to the
applicable provisions hereof and, thereafter, means the successor or assignee.

 

“Company
Order” means a written request or order signed in the name of the Company by any Officer.

 

“Conversion
Price” means, at any time, (i) $1,000 divided by (ii) the Conversion Rate in effect at such time.

 

“Conversion
Rate” means, initially, 122.0107 shares of Common Stock per $1,000 principal amount of Notes, subject to adjustment as provided
herein.

 

“Corporate
Trust Office” means the corporate trust office of the Trustee at which the trust created by this Indenture will be administered,
which office, as of the Issue Date, is located at The Bank of New York Mellon, Corporate Trust Administration – Gain Holdings,
Inc., 101 Barclay Street – Floor 7W, New York, NY 10286 and may later be located at such other address as the Trustee, upon
delivering notice to the Holders, the Paying Agent, the Conversion Agent, the Registrar and the Company, designates.

 

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

 

“Daily
Conversion Value” means, for any Trading Day, (1) the product of (x) the Conversion Rate on such Trading Day and
(y) the Daily VWAP on such Trading Day, divided by (2) sixty (60).

 

“Daily
Settlement Amount” means, with respect to each of the 60 consecutive Trading Days during any Observation Period, (i) cash
equal to the lesser of (x) the Specified Dollar Amount applicable to such conversion, divided by sixty (60) (such
quotient, the “Daily Measurement Value”); and (y) the Daily Conversion Value on such Trading Day (the lesser
of such preceding clauses (x) and (y), the “Daily Cash Amount”); and (ii) if such Daily Conversion Value
exceeds such Daily Measurement Value, a number of shares of Common Stock (such number, the “Daily Share Amount”) equal
to (x) the difference between such Daily Conversion Value and such Daily Measurement Value, divided by (y) the
Daily VWAP for such Trading Day.

 

     2

     

    

“Daily
VWAP” means, for any Trading Day, the per share volume-weighted average price as displayed under the heading “Bloomberg
VWAP” on Bloomberg page “GCAP<equity> AQR” (or its equivalent successor if such page is not available)
in respect of the period from the scheduled open of trading until the scheduled close of trading of the primary trading session
on such Trading Day (or if such volume-weighted average price is unavailable, the market value of one share of Common Stock on
such Trading Day determined, using a volume-weighted average method, by a nationally recognized independent investment banking
firm retained for this purpose by the Company). The Daily VWAP will be determined without regard to after-hours trading or any
other trading outside of the regular trading session trading hours.

 

“Default”
means any event that is, or after notice or passage of time or both would be, an Event of Default.

 

“Definitive
Notes” means Notes that are in registered definitive form.

 

“Depositary”
means DTC; provided that the Company may at any time, upon delivering notice to the Holders, the Company, the Trustee,
the Registrar, the Paying Agent and the Conversion Agent, appoint a successor Depositary.

 

“DTC”
means The Depository Trust Company.

 

“Exchange
Act” means the Securities Exchange Act of 1934, as amended.

 

“Free
Trade Date” means the date that is one year after the relevant Last Original Issue Date.

 

“Freely
Tradable” means, with respect to the Notes, that such Notes (i) are eligible to be offered, sold or otherwise transferred
pursuant to Rule 144 or otherwise by a Person that is not an affiliate (as defined in Rule 144) of the Company and that has not
been an affiliate (as defined in Rule 144) of the Company during the immediately preceding three-month period without any volume
or manner of sale restrictions under the Securities Act, (ii) do not bear the Restricted Notes Legend and (iii) with respect to
Global Notes only, are identified by an unrestricted CUSIP number in the facilities of the Depositary.

 

“Fundamental
Change” means an event that will be deemed to occur if any of the following occurs:

 

(a)       a
“person” or “group” within the meaning of Section 13(d) of the Exchange Act other than the Company,
its Subsidiaries, and the Company and its Subsidiaries’ employee benefit plans files a Schedule TO or any schedule, form
or report under the Exchange Act disclosing that such person or group, has become the direct or indirect “beneficial owner”
(as defined below) of shares of the Company’s common equity representing more than 50% of the voting power of the Company’s
common equity generally entitled to vote in the election of the Company’s directors;

 

     3

     

    

(b)       the
consummation of:

 

(i)       any
sale, lease or other transfer in one transaction or a series of transactions of all or substantially all of the consolidated assets
of the Company and its Subsidiaries, taken as a whole, to any Person; or

 

(ii)       any
transaction or series of related transactions in connection with which (whether by means of exchange, liquidation, consolidation,
merger, combination, reclassification, recapitalization, acquisition or otherwise) all of the Common Stock is exchanged for, converted
into, acquired for, or constitutes solely the right to receive, other securities, other property, assets or cash, but excluding
any merger, consolidation, share exchange or acquisition of the Company with or by another Person pursuant to which the Persons
that “beneficially owned” (as defined below), directly or indirectly, the shares of the Company’s Voting Stock
immediately prior to such transaction beneficially own, directly or indirectly, immediately after such transaction, shares of
the surviving, continuing or acquiring corporation’s Voting Stock representing more than 50% of the total outstanding voting
power of all outstanding classes of Voting Stock of the surviving, continuing or acquiring corporation in substantially the same
proportions vis-à-vis each other as immediately prior to such transaction;

 

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

 

(d)       the
Common Stock (or other common stock or depositary shares or receipts in respect thereof that underlie the Notes) ceases to be
listed or quoted on the NYSE, The NASDAQ Global Market or The NASDAQ Global Select Market (or any of their respective successors).

 

A transaction
or event described in clause (a) or (b) above will not constitute a Fundamental Change, however, if at least 90% of the consideration
received or to be received by the holders of the Common Stock, excluding cash payments for fractional shares or dissenters’
appraisal rights, in connection with the transaction or transactions, consists of shares of common stock or depositary shares
or receipts in respect thereof traded on any of the NYSE, The NASDAQ Global Market or The NASDAQ Global Select Market (or any
of its respective successors) or which will be so traded or quoted when issued or exchanged in connection with such transaction
or event and as a result of such transaction or event, the Notes become convertible or exchangeable (assuming Physical Settlement)
solely into such consideration (excluding cash payments for fractional shares or dissenters’ appraisal rights) in accordance
with ‎Section 10.08 hereof. For the purposes of this definition of “Fundamental Change,” any transaction or event
that constitutes a Fundamental Change under both clause (a) and clause (b) above will be deemed to constitute a Fundamental
Change solely under clause (b) of this definition of “Fundamental Change.”

 

For the purposes
of this definition of “Fundamental Change,” whether a person is a “beneficial owner” or whether shares
are “beneficially owned” will be determined in accordance with Rule 13d-3 under the Exchange Act.

 

     4

     

    

“Global
Note” means a permanent global note that is in the form of the Note attached hereto as Exhibit A and that is registered
in the name of the Depositary or the nominee of the Depositary and deposited with the Depositary, the nominee of the Depositary
or a custodian appointed by the Depositary or the nominee of the Depositary.

 

“Global
Notes Legend” means the legend identified as such in Exhibit A hereto.

 

“Holder”
or “Holders” means a Person or Persons in whose name a Note is registered in the Register.

 

“Indenture”
means this Indenture, as amended or supplemented from time to time in accordance with the terms hereof.

 

“Initial
Purchasers” means the “Purchasers” listed in Schedule I to the Purchase Agreement.

 

“Issue
Date” means August 22, 2017.

 

“Last
Original Issue Date” means the last date of original issuance of the Notes, including the last date of issuance of any additional
Notes that the Initial Purchasers purchase pursuant to the Over-Allotment Option, which date, for the avoidance of doubt, is August
22, 2017; provided, however, that Notes originally issued hereunder pursuant to the Purchase Agreement (or any Notes
issued in exchange therefor or in substitution thereof) shall have a separate Last Original Issue Date (determined as aforesaid)
than any other Notes originally issued hereunder (or any Notes issued in exchange therefor or in substitution thereof).

 

“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 last bid and ask prices or, if more than one in either case, the average of the average last bid
and the average last ask prices) on such date as reported in composite transactions for the principal U.S. national or regional
securities 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 such date, the “Last Reported Sale Price” of the Common Stock will be the last quoted bid price
per share for the Common Stock in the over-the-counter market on such 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” will be the average of the mid-point
of the last bid and ask prices per share for the Common Stock on the relevant date from at least three nationally recognized independent
investment banking firms selected by the Company for this purpose.

 

“Market
Disruption Event” means, (i) for purposes of determining whether the Notes will be convertible pursuant to ‎Section
10.01(b), the occurrence or existence during the one-half hour period ending on the scheduled close of trading on the principal
U.S. national or regional securities exchange on which the Common Stock is listed for trading of any material suspension or limitation
imposed on trading (by reason of movements in price exceeding limits permitted by the stock exchange or otherwise) in the Common
Stock or in any options contracts or futures contracts relating to the Common Stock; and (ii) for purposes of determining
any Observation Period, (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

 

     5

     

    

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.

 

“Notes”
means any of the Company’s 5.00% Convertible Senior Notes due 2022 issued under this Indenture.

 

“NYSE”
means The New York Stock Exchange.

 

“Observation
Period” means, with respect to any Note surrendered for conversion:

 

(i) subject
to (iii) below, if the Conversion Date for such conversion is before April 15, 2022, the sixty (60) consecutive Trading Day
period beginning on, and including, the third Trading Day after such Conversion Date;

 

(ii) subject
to (iii) below, if such Conversion Date occurs on or after April 15, 2022, the sixty (60) consecutive Trading Days beginning
on, and including, the sixty-second (62nd) Scheduled Trading Day immediately preceding the Maturity Date; and

 

(iii) if the
relevant Conversion Date occurs on or after the date of the Company’s delivery of a Redemption Notice with respect to the
Notes and prior to the relevant Redemption Date, the sixty (60) consecutive Trading Days beginning on, and including, the sixty-second
(62nd) Scheduled Trading Day immediately preceding such Redemption Date.

 

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

 

“Officers’
Certificate” means a written certificate containing the information specified in Sections 12.02 and ‎12.03 hereof, signed
in the name of the Company by any two Officers, and delivered to the Trustee; provided, that, if such certificate is given
pursuant to ‎Section 4.05 hereof, (i) one of the Officers signing such certificate must be the principal financial or
accounting Officer of the Company and (ii) such certificate need not contain the information specified in Sections 12.02
and ‎12.03 hereof.

 

“Open
of Business” means 9:00 a.m., New York City time.

 

“Opinion
of Counsel” means a written opinion containing the information specified in Sections 12.02 and ‎12.03 hereof, from legal
counsel. The counsel may be an employee of, or counsel to, the Company who is reasonably satisfactory to the Trustee.

 

“Over-Allotment
Option” means the option of the Initial Purchasers, pursuant to Section 3(b) of the Purchase Agreement, to purchase
up to $12,000,000 aggregate principal amount of additional Notes from the Company, solely to cover over-allotments.

 

     6

     

    

“Person”
means any individual, corporation, limited liability company, partnership, joint venture, association, joint-stock company, trust,
unincorporated organization, or government or any agency or political subdivision thereof.

 

“Preliminary
Offering Memorandum” means the Preliminary Offering Memorandum relating to the offering of the Notes dated August 16, 2017.

 

“Pricing
Term Sheet” means the Pricing Term Sheet attached to the Purchase Agreement as Schedule II thereto.

 

“Purchase
Agreement” means the purchase agreement, dated August 16, 2017, between the Company and J.P. Morgan Securities LLC and Jefferies
LLC, as representatives of the Initial Purchasers.

 

“Redemption
Conversion Period” means the period beginning on, and including, the date on which the Company delivers a Redemption Notice
and ending on, but excluding, the relevant Redemption Date.

 

“Responsible
Officer” means (A) any officer within the Corporate Trust Administration of the Trustee (or any successor group of the Trustee)
or any other officer of the Trustee customarily performing functions similar to those performed by any of such officers; and (B)
with respect to a particular corporate trust matter, any other officer to whom such matter is referred because of his or her knowledge
of and familiarity with the particular subject.

 

“Restricted
Notes Legend” means the legend identified as such set forth in Exhibit A hereto, or any other similar legend indicating
the restricted status of the Notes under Rule 144.

 

“Restricted
Stock Legend” means a legend in the form set forth in Exhibit C hereto or any other similar legend indicating the
restricted status of the Common Stock under Rule 144.

 

“Rule
144” means Rule 144 under the Securities Act (or any successor provision), as it may be amended from time to time.

 

“Rule
144A” means Rule 144A under the Securities Act (or any successor provision), as it may be amended from time to time.

 

“Scheduled
Trading Day” means a day that is scheduled to be a Trading Day (as defined in the last proviso of such definition) on the
principal U.S. national or regional securities exchange or market on which the Common Stock is listed or admitted for trading;
provided, however, that if the Common Stock is not so listed or admitted for trading, then “Scheduled Trading
day” means a Business Day.

 

“SEC”
means the Securities and Exchange Commission.

 

“Securities
Act” means the Securities Act of 1933, as amended.

 

     7

     

    

“Settlement
Method” means Cash Settlement, Physical Settlement or Combination Settlement.

 

“Significant
Subsidiary” means any Subsidiary that is a “significant subsidiary” of the Company within the meaning of Rule
1-02(w) of Regulation S-X promulgated under the Exchange Act.

 

“Specified
Dollar Amount” means, with respect to the conversion of any Note with respect to which Combination Settlement applies, the
maximum cash amount per $1,000 principal amount of such Note being converted to be received upon such conversion (excluding cash
in lieu of any fractional share of Common Stock), as specified in the notice specifying the Company’s elected Settlement
Method for such conversion or as deemed to be so specified pursuant to ‎Section 10.03(a)(i)(5).

 

“Stock
Price” means, for any Make-Whole Fundamental Change, (i) if the holders of the Common Stock receive only cash in consideration
for their shares of Common Stock in such Make-Whole Fundamental Change and such Make-Whole Fundamental Change is of the type described
in sub-clause (ii) of clause (b) of the definition of Fundamental Change, the amount of cash paid per share of the Common
Stock in such Make-Whole Fundamental Change, (ii) in the case of a Make-Whole Fundamental Change described in clause (ii) of the
definition of Make-Whole Fundamental Change, the Last Reported Sale Price of the Common Stock on the day that the Company delivers
the Redemption Notice and (iii) in all other cases, the average of the Last Reported Sale Price of the Common Stock over the five
consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the Make-Whole Fundamental Change
Effective Date for such Make-Whole Fundamental Change.

 

“Subsidiary”
means a Person more than 50% of the outstanding Voting Stock of which is owned, directly or indirectly, by the Company or by one
or more other Subsidiaries of the Company, or by the Company and one or more other Subsidiaries of the Company.

 

“TIA”
means the Trust Indenture Act of 1939 as in effect on the Issue Date; provided, however, that if the TIA is amended
after such date, TIA means, to the extent required by any such amendment, the TIA as so amended.

 

“Trading
Day” means a day on which (i) trading in the Common Stock (or other security for which a closing sale price must be
determined) generally occurs on the NYSE or, if the Common Stock (or such other security) is not then listed on the NYSE, 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 listed or admitted for trading; (ii) there
is no Market Disruption Event; and (iii) a closing sale price for the Common Stock (or such other security) is available
on such securities exchange; provided, however, that if the Common Stock (or such other security) is not so listed
or traded, then “Trading Day” means a Business Day; provided, further, that, notwithstanding the foregoing,
solely for purposes of determining the Conversion Consideration due upon any conversion of a Note, (x) ”Trading Day”
means a day on which (A) there is no Market Disruption Event and (B) trading in the Common Stock

 

     8

     

    

generally occurs
on the NYSE or, if the Common Stock is not then listed on the NYSE, 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; and (y) if the
Common Stock is not so listed or admitted for trading, “Trading Day” means a Business Day.

 

“Trading
Price” means, with respect to the Notes on any date of determination, the average of the secondary market bid quotations
obtained by the Bid Solicitation Agent for $1.0 million principal amount of Notes at approximately 3:30 p.m., New York City time,
on such determination date from three independent nationally recognized securities dealers selected by the Company; provided,
however, 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 (2) 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 $1.0 million principal
amount of the Notes from a nationally recognized securities dealer on any Trading Day, then the Trading Price per $1,000 principal
amount of the Notes on such Trading Day will be deemed to be less than ninety eight percent (98%) of the product of the Last
Reported Sale Price of the Common Stock and the Conversion Rate on such Trading Day. If (x) the Company is not acting as
Bid Solicitation Agent, and the Company does not, when the Company is required to, instruct the Bid Solicitation Agent in writing
to obtain bids, or if the Company gives such written instruction to the Bid Solicitation Agent, and the Bid Solicitation Agent
fails to make such determination or (y) the Company is acting as Bid Solicitation Agent, and the Company fails to make such
determination, then, in either case, the Trading Price per $1,000 principal amount of Notes will be deemed to be less than ninety
eight percent (98%) of the product of the Last Reported Sale Price of the Common Stock and the Conversion Rate on each Trading
Day of such failure.

 

“Transfer”
means, with respect to any Restricted Note or share of Common Stock that bears, or is required to bear, the Restricted Stock Legend,
any sale, pledge, transfer, loan, hypothecation or other disposition of such Restricted Note or share of Common Stock, as the
case may be.

 

“Transfer
Agent” means, initially, Broadridge Corporate Issuer Solutions, Inc., in its capacity as the transfer agent for the transfer
agent for the Common Stock, and any successor entity acting in such capacity.

 

“Trustee”
means the party named as the “Trustee” in the first paragraph of this Indenture until a successor replaces it pursuant
to the applicable provisions of this Indenture and, thereafter, means such successor. The foregoing sentence will likewise apply
to any such subsequent successor or successors.

 

“Uniform
Commercial Code” means the New York Uniform Commercial Code as in effect on the Issue Date.

 

“Voting
Stock” of a Person means Capital Stock of such Person of the class or classes pursuant to which the holders thereof have
the general voting power under ordinary

 

     9

     

    

circumstances
to elect at least a majority of the board of directors, managers or trustees of such Person (irrespective of whether or not at
the time Capital Stock of any other class or classes will have or might have voting power by reason of the happening of any contingency).

 

Section
1.02     Other Definitions.

 

	Term: 
	Section
Defined in: 

	“Act”	‎1.04
	“Additional
    Amounts”	4.07(a)
	“Additional
    Interest”	‎4.04(a)
	“Additional
    Shares”	‎10.07(a)
	“Agent
    Members”	‎2.02(c)
	“Applicable
    Tax Law”	‎7.11
	“Averaging
    Period”	‎10.05(e)
	“Cash
    Settlement”	‎10.03(a)(i)
	“Clause
    A Distribution”	‎10.05(c)
	“Clause
    B Distribution”	‎10.05(c)
	“Clause
    C Distribution”	‎10.05(c)
	“Combination
    Settlement”	‎10.03(a)(i)
	“Conversion
    Agent”	‎2.06(a)
	“Conversion
    Consideration”	‎10.03(a)(ii)
	“Conversion
    Date”	‎10.02(a)
	“Conversion
    Notice”	‎10.02(a)
	“Defaulted
    Amount”	‎2.04(d)
	“Default
    Interest”	‎2.04(d)
	“Dividend
    Threshold”	‎10.05(d)
	“Effective
    Date”	‎10.05(m)(i)(2)
	“Event
    of Default”	‎6.01(a)
	“Ex-Dividend
    Date”	‎10.05(m)(i)(3)
	“Expiration
    Time”	‎10.05(e)
	“Extension
    Fee”	‎6.04(a)
	“FATCA”	4.07(a)(vi)
	“Financial
    Institution”	‎10.10
	“Fundamental
    Change Notice”	‎3.02(a)
	“Fundamental
    Change Notice Date”	‎3.02(a)
	“Fundamental
    Change Repurchase Date”	‎3.01(c)
	“Fundamental
    Change Repurchase Notice”	‎3.03(a)(i)
	“Fundamental
    Change Repurchase Price”	‎3.01(b)
	“Interest
    Payment Date”	‎2.04(a)
	“Make-Whole
    Fundamental Change”	‎10.07(a)
	“Make-Whole
    Fundamental Change Effective Date”	‎10.07(b)
	“Maturity
    Date”	‎2.04(a)(i)
	“Measurement
    Period”	‎10.01(b)(ii)
	“Merger
    Event”	‎10.08(a)
	“Merger
    Successor Corporation”	‎10.08(a)

 

     10

     

    

 

	Term: 
	Section
Defined in: 

	“Multi-Clause
    Distribution”	‎10.05(c)
	“Paying
    Agent”	‎2.06(a)
	“Physical
    Settlement”	‎10.03(a)(i)
	“Redemption”	‎11.02(a)
	“Redemption
    Date”	‎11.02(c)
	“Redemption
    Notice”	‎11.03
	“Redemption
    Notice Date”	‎11.03
	“Redemption
    Price”	‎11.02(b)
	“Reference
    Property”	‎10.08(a)
	“Reference
    Property Unit”	‎10.08(a)
	“Register”	‎2.06(a)
	“Registrar”	‎2.06(a)
	“Regular
    Record Date”	‎2.04(a)
	“Reorganization
    Event”	‎5.01
	“Reorganization
    Successor Corporation”	‎5.01(a)(ii)
	“Relevant
    Taxing Jurisdiction”	4.07(a)
	“Reporting
    Event of Default”	‎6.04(a)
	“Restricted
    Note”	‎2.10(a)(i)
	“Special
    Regular Record Date”	‎2.04(d)(i)
	“Spin-Off”	‎10.05(c)(ii)
	“Surviving
    Entity”	4.07(a)
	“Temporary
    Notes”	‎2.12
	“Taxes”	4.07(a)
	“Trading
    Price Condition”	‎10.01(b)(ii)
	“Valuation
    Period”	‎10.05(c)(ii)

 

 

Section
1.03      Rules of Construction.

 

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

 

(b)       an
accounting term not otherwise defined has the meaning assigned to it and will be construed in accordance with U.S. generally accepted
accounting principles;

 

(c)       “or”
is not exclusive;

 

(d)       “including”
means including, without limitation;

 

(e)       words
in the singular include the plural, and words in the plural include the singular, unless the context requires otherwise;

 

(f)       all
references to $, dollars, cash payments or money refer to United States currency; and

 

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(g)       unless
the context requires otherwise, all references to interest on the Notes (a) will include any Additional Interest payable
pursuant to ‎Section 4.04 hereof and any Extension Fee payable pursuant to ‎Section 6.04 hereof, (b) but, for the
avoidance of doubt, will not include any Default Interest payable on a Defaulted Amount pursuant to the terms of ‎Section
2.04(d) hereof.

 

Acts of
Holders. Any request, demand, authorization, direction, notice, consent, waiver or other action provided by this Indenture
to be given or taken by Holders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed
by such Holders in person or by an agent duly appointed in writing; and, except as herein otherwise expressly provided, such action
will become effective when such instrument or instruments are delivered to the Trustee and to the Company. Such instrument or
instruments (and the action embodied therein and evidenced thereby) are herein sometimes referred to as the “Act”
of Holders signing such instrument or instruments. Proof of execution of any such instrument or of a writing appointing any such
agent will be sufficient for any purpose of this Indenture and conclusive in favor of the Trustee and the Company, if made in
the manner provided in this ‎Section 1.04.

 

(a)       The
fact and date of the execution by any Person of any such instrument or writing may be proved by the affidavit of a witness of
such execution or by a certificate of a notary public or other officer authorized by law to take acknowledgments of deeds, certifying
that the individual signing such instrument or writing acknowledged to such officer the execution thereof together with a medallion
guarantee, if applicable. Where such execution is by a signer acting in a capacity other than such signer’s individual capacity,
such certificate or affidavit will also constitute sufficient proof of such signer’s authority. The fact and date of the
execution of any such instrument or writing, or the authority of the Person executing the same, may also be proved in any other
manner that the Trustee deems sufficient.

 

(b)       Any
request, demand, authorization, direction, notice, consent, waiver or other Act of the Holder of any Note will bind every future
Holder of the same Note and the Holder of every Note issued upon the registration of transfer thereof or in exchange therefor
or in lieu thereof in respect of anything done, omitted or suffered to be done by the Trustee, the Company, the Paying Agent,
the Conversion Agent or the Registrar in reliance thereon, whether or not notation of such action is made upon such Note.

 

(c)       If
the Company will solicit from the Holders any request, demand, authorization, direction, notice, consent, waiver or other Act,
the Company may, at its option, by or pursuant to a Board Resolution, fix in advance a record date for the determination of Holders
entitled to give such request, demand, authorization, direction, notice, consent, waiver or other Act, but the Company will have
no obligation to do so. If such a record date is fixed, such request, demand, authorization, direction, notice, consent, waiver
or other Act may be given before or after such record date, but only the Holders of record at the Close of Business on such record
date will be deemed to be Holders for the purposes of determining whether Holders of the requisite proportion of outstanding Notes
have authorized or agreed or consented to such request, demand, authorization, direction, notice, consent, waiver or other Act,
and, for that purpose, the outstanding Notes will be computed as of such record date; provided that no such authorization,
agreement or consent by the Holders on such record date will be deemed effective unless it will

 

     12

     

    

become effective
pursuant to the provisions of this Indenture not later than six months after the record date.

 

Article
II

THE NOTES

 

Section
2.01      Designation, Amount and Issuance of Notes.

 

(a)       The
Notes will be designated as “5.00% Convertible Senior Notes due 2022.” The initial aggregate principal amount of Notes
to be issued, authenticated and delivered on the Issue Date under this Indenture is $92,000,000. From time to time, the Company
may issue and execute, and the Trustee may authenticate, Notes delivered upon registration of transfer of, or in exchange for,
or in lieu of, other Notes pursuant to Sections ‎2.09, ‎2.11, ‎2.12, ‎3.06 and ‎10.02 hereof. In addition,
the Company may issue an unlimited aggregate principal amount of additional Notes in accordance with clause (b) of this ‎Section
2.01.

 

(b)       Without
the consent of any Holder, and notwithstanding anything to the contrary in Sections ‎2.01(a) or ‎2.05 hereof, the Company
may increase the aggregate principal amount of the Notes issued under this Indenture by reopening this Indenture and issuing additional
Notes with the same terms as the initial Notes (except, to the extent applicable, with respect to the issue price, the date as
of which interest shall begin to accrue on such additional Notes and the Last Original Issue Date of such additional Notes as
provided in the proviso to the definition thereof), and with the same or different CUSIP numbers, which Notes will, subject to
the foregoing, be considered to be part of the same series of Notes as those initially issued hereunder; provided, however,
that if any such additional Notes are not fungible with other Notes issued hereunder for federal income tax purposes, then such
additional Notes shall have a separate CUSIP number. Prior to issuing any such additional Notes, the Company will deliver to the
Trustee a Company Order, an Officers’ Certificate and an Opinion of Counsel, which Officers’ Certificate and Opinion
of Counsel will address any matters required to be addressed under Sections 12.02 and ‎12.03 hereof.

 

Section 2.02
     Form of Notes.

 

(a)       General.
The Notes will be substantially in the form of Exhibit A hereto, but may include any notations, legends or endorsements
required by any applicable law (or regulation promulgated thereunder), stock exchange rule or usage, or any insertions, omissions
or other variations otherwise permitted or required by this Indenture. Whenever any such notation, legend or endorsement, or any
such insertion, omission or other variation is applicable to a Note, the Company will provide such notation, legend or endorsement,
or such insertion, omission or other variation to the Trustee in writing.

 

Each Note
will bear a Trustee’s certificate of authentication substantially in the form set forth in Exhibit A hereto.

 

Notes that
are Global Notes will bear the Global Notes Legend and the “Schedule of Increases and Decreases of Global Note” attached
thereto.

 

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Notes that
are Restricted Notes will bear the Restricted Notes Legend.

 

The terms
and provisions contained in the Notes will constitute, and are hereby expressly made, a part of this Indenture and, to the extent
applicable, the Company and the Trustee, by their execution and delivery of this Indenture, expressly agree to such terms and
provisions and to be bound thereby. However, to the extent that any provision of any Note conflicts with the express provisions
of this Indenture, the provisions of this Indenture will govern and control.

 

(b)       Initial
and Subsequent Notes. The Notes initially will be issued in global form, registered in the name of Cede &
Co., as the nominee of the Depositary, and deposited with the Trustee, at its Corporate Trust Office, as custodian for the Depositary.
Except to the extent provided in ‎Section 2.09(c) hereof, all Notes will be represented by one or more Global Notes.

 

(c)       Global
Notes. Each Global Note will represent the aggregate principal amount of then outstanding Notes endorsed thereon and
provide that it represents such aggregate principal amount of then outstanding Notes, which aggregate principal amount may, from
time to time, be reduced or increased to reflect transfers, exchanges, conversions, redemptions or repurchases by the Company.

 

Only the
Trustee, or the custodian holding such Global Note for the Depositary, at the direction of the Trustee, may endorse a Global Note
to reflect the amount of any increase or decrease in the aggregate principal amount of then outstanding Notes represented thereby,
and whenever the Holder of a Global Note delivers instructions to the Trustee to increase or decrease the aggregate principal
amount of then outstanding Notes represented by a Global Note in accordance with ‎Section 2.09 hereof, the Trustee, or the
custodian holding such Global Note for the Depositary, at the direction of the Trustee, will endorse such Global Note to reflect
such increase or decrease in the aggregate principal amount of then outstanding Notes represented thereby. None of the Trustee,
the Company or any agent of the Trustee or the Company will have any responsibility or bear any liability for any aspect of the
records relating to, or payments made on account of, the ownership of any beneficial interest in a Global Note or with respect
to maintaining, supervising or reviewing any records relating to such beneficial interest.

 

Neither any
member of, or participant in, the Depositary (collectively, the “Agent Members”) nor any other Person on whose behalf
an Agent Member may act will have any rights under this Indenture with respect to any Global Note or under such Global Note, and
the Company, the Trustee and any agent of the Company or the Trustee, may, for all purposes, treat the Depositary, or its nominee,
if any, as the absolute owner and Holder of such Global Note.

 

The Holder
of a Global Note may grant proxies and otherwise authorize any Person, including Agent Members and Persons that may hold interests
through Agent Members, to take any action that such Holder is entitled to take under this Indenture or the Notes with respect
to such Global Note, and, notwithstanding the foregoing, nothing herein will prevent the Company, the Trustee, the Paying Agent
or any agent of the Company, the Trustee or the Paying Agent from giving effect to any written certification, proxy or other authorization
furnished by such Holder or impair, as between the Depositary, its Agent Members and any other Person on whose

 

     14

     

    

behalf an Agent
Member may act, the operation of their respective customary practices governing the exercise of the rights of a Holder of any
interest in any Global Note.

 

Section 2.03
     Denomination
of Notes. The Notes will be issuable in registered form without coupons in minimum denominations of $1,000 principal amount
and in integral multiples of $1,000 in excess thereof.

 

Section 2.04
     Payments.

 

(a)       General.

 

(i)       Payment
at Maturity. Unless earlier paid or deemed paid pursuant to any of Sections ‎3.05, ‎10.03 or ‎11.06 hereof, the
Notes will mature on August 15, 2022 (the “Maturity Date”) and, on the Maturity Date, the Company will pay each Holder
of Notes $1,000 in cash for each $1,000 principal amount of Notes held, together with accrued and unpaid interest to, but not
including, the Maturity Date on such Notes.

 

(ii)       Payment
of Interest. Each Note will accrue interest at a rate equal to 5.00% per annum from the most recent date to which interest
has been paid or duly provided for, or, if no interest has been paid or duly provided for, the Issue Date (or such other date
provided for in ‎Section 2.01(b) with respect to Notes issued in accordance with such Section) until, subject to the provisions
of clause (d) of this ‎Section 2.04, the date the principal amount of such Note is paid or deemed paid, as the case may
be, pursuant to clause (i) of this ‎Section 2.04(a) or any of Sections ‎3.05, ‎10.03 or ‎11.06 hereof.

 

Interest
will be payable semi-annually in arrears on February 15 and August 15 of each year (each, an “Interest Payment Date”),
beginning February 15, 2018 (or such other date provided for in ‎Section 2.01(b) with respect to Notes issued in accordance
with such Section), to the Holder of each such Note as of the Close of Business on the February 1 and August 1, as the case may
be, immediately preceding the applicable Interest Payment Date (each such date, a “Regular Record Date”), regardless
of whether such Note is converted, repurchased or redeemed after such Regular Record Date. Interest will be computed on the basis
of a 360-day year comprised of twelve 30-day months and, for partial months, on the basis of the number of days actually elapsed
in a 30-day month.

 

(iii)       Method
of Payment. The Company will pay the principal of, the Fundamental Change Repurchase Price or the Redemption Price for, and
the interest on, any Global Note to the Depositary by wire transfer of immediately available funds on the relevant payment date.

 

The Company
will pay the principal of, the Fundamental Change Repurchase Price or Redemption Price for, and any interest due on the Maturity
Date on, any Definitive Note in cash to the applicable Holder of such Note at the office of the Paying Agent on the relevant payment
date. The Company will pay interest due, on an Interest Payment Date, on any Definitive Note (except interest due on the Maturity
Date) to the applicable Holder of such Note (i) if such Holder holds $5,000,000 or less aggregate principal amount of Notes,
by check mailed to such Holder’s registered address, and (ii) if such Holder holds more than $5,000,000 aggregate principal
amount of Notes, (A) by check mailed to such Holder’s registered address or (B) if

 

     15

     

    

such Holder
delivers, not later than the Regular Record Date relating to such Interest Payment Date, a written request to the Registrar that
the Company make such payments by wire transfer to an account of such Holder within the United States, by wire transfer of immediately
available funds to such account, which request shall remain in effect until such Holder notifies, in writing, the Registrar to
the contrary.

 

(b)       Interest
Rights Preserved. Subject to the provisions of ‎Section 2.04(d) hereof, and, to the extent applicable, Sections ‎2.09
and ‎2.11 hereof, each Note delivered under this Indenture upon registration of transfer of, or in exchange for, or in lieu
of, any other Note will carry any rights to the payment and accrual of interest that were carried by the relevant surrendered
Note, Notes, or portion(s) thereof.

 

(c)       Additional
Interest; Extension Fee. Pursuant to ‎Section 4.04 hereof, in certain circumstances, Additional Interest will accrue on
the Notes. Pursuant to ‎Section 6.04 hereof, in certain circumstances, the Company may, at its election, be obligated to pay
Holders the Extension Fee. Unless the context requires otherwise, all references in this Indenture to interest on the Notes will
include such Additional Interest and Extension Fee, but will not include any Default Interest payable pursuant to ‎Section
2.04(d) hereof.

 

(d)       Defaulted
Amounts. Whenever any amount payable on a Note (including, the principal of, the Fundamental Change Repurchase Price or Redemption
Price for, and interest on, such Note) has become due and payable, but the Company fails to punctually pay or duly provide for
such amount (any such amount, a “Defaulted Amount”), such Defaulted Amount will forthwith cease to be payable to the
Holder of such Note on the relevant payment date by virtue of its having been due such payment on such payment date, but will
instead, to the extent permitted under applicable law, accrue interest (“Default Interest”) at a rate equal to 5.00% per
annum from, and including, such payment date and to, but excluding, the date on which such Defaulted Amount is paid by the Company
in accordance with either clause (i) or (ii) below.

 

(i)       The
Company may elect to pay any Defaulted Amount and Default Interest on such Defaulted Amount to the Persons in whose names the
Notes (or their respective predecessor Notes) are registered at the Close of Business on a special record date for the payment
of such Defaulted Amount and Default Interest (a “Special Regular Record Date”) fixed in accordance with the following
procedures:

 

(1)       At
least 30 days before the date on which the Company proposes to pay such Defaulted Amounts and Default Interest thereon, the Company
will deliver to the Trustee written notice of (I) the proposed payment date for such Defaulted Amounts and Default Interest
thereon and (II) the aggregate amount of such Defaulted Amounts and Default Interest thereon.

 

(2)       Simultaneously
with delivering such notice to the Trustee, the Company will either (I) deposit with the Trustee an amount of money, in immediately
available funds, equal to the aggregate amount of such Defaulted Amounts and Default Interest thereon, or (II) take other actions
that the Trustee deems reasonably satisfactory to ensure that an amount of money, in immediately available funds, equal to the
aggregate of such Defaulted Amounts and Default Interest thereon will be deposited with

 

     16

     

    

the
Trustee by 11:00 a.m., New York City time, on the day that is five Business Days prior to the proposed payment date, and in either
case, upon receipt of such money, the Trustee will hold such money in trust for the benefit of the Persons entitled to such Defaulted
Amounts and Default Interest pursuant to this ‎Section 2.04(d)(i).

 

(3)       Upon
(i) receipt of such notice and (ii) the Company’s depositing such money or taking such other actions reasonably
satisfactory to the Trustee, the Company will promptly fix a Special Regular Record Date for the payment of such Defaulted Amounts
and Default Interest thereon, which Special Regular Record Date will be not more than 15 calendar days and not less than 10 days
prior to the proposed payment date, and notify the Trustee of the Special Regular Record Date. The Trustee will then, in the name
and at the expense of the Company, deliver notice to each Holder specifying such Special Regular Record Date and the date on which
such Defaulted Amounts and Default Interest thereon will be paid by the Company.

 

(4)       After
such notice has been delivered by the Trustee, such Defaulted Amounts and Default Interest thereon will be paid to the Persons
in whose names the Notes (or their respective predecessor Notes) are registered at the Close of Business on the Special Regular
Record Date specified in such notice and such Defaulted Amounts and Default Interest thereon will no longer be payable pursuant
to the following clause (ii) of this ‎Section 2.04(d).

 

(ii)       The
Company may pay any Defaulted Amounts and Default Interest on such Defaulted Amounts in any other lawful manner that is not inconsistent
with the requirements of any securities exchange or automated quotation system on which the Notes are then listed (or, if applicable,
have been approved for listing) 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 will be deemed practicable by the Trustee.

 

Section 2.05
     Execution
and Authentication.

 

(a)       In
General. A Note will be valid only if executed by the Company and authenticated by the Trustee.

 

(b)       Execution.
A Note will be deemed to have been executed by the Company when an Officer signs such Note on behalf of the Company. The Officer’s
signature may be manual or facsimile, and the validity of such Officer’s signature will not turn on whether such signatory
remains an Officer at the time the Trustee authenticates such Note.

 

(c)       Authentication.
A Note will be deemed authenticated when an authorized signatory of the Trustee manually signs the certificate of authentication
on such Note. An authorized signatory of the Trustee will manually sign the certificate of authentication on a Note only if (i) the
Company delivers such Note to the Trustee, (ii) such Note is validly executed by the Company in accordance with ‎Section
2.05(b) hereof, and (iii) the Company delivers, before or with such Note, a Company Order setting forth (A) a request
that the Trustee authenticate

 

     17

     

    

such Note;
(B) the principal amount of such Note; (C) the name of the Holder of such Note, (D) the date on which such Note
is to be authenticated; and (E) any insertions, omissions or other variations, notations, legends or endorsements permitted
under ‎Section 2.02 hereof and applicable to such Note. If the Company Order also specifies that the Trustee must deliver
such Note to the Holder or the Depositary, the Trustee will promptly deliver such Note in accordance with such Company Order.

 

The Trustee
may appoint an authenticating agent. If the Trustee appoints an authenticating agent and such authenticating agent is reasonably
acceptable to the Company, such authenticating agent may authenticate a Note whenever the Trustee may authenticate such Note.
For purposes of this provision, each reference in this Indenture to authentication by the Trustee will be deemed to include authentication
by an authenticating agent, and an authenticating agent will have the same rights to deal with the Company as the Trustee would
have if it were performing the duties that the authentication agent was validly appointed to undertake.

 

Section 2.06
     Registrar, Paying Agent and Conversion Agent.

 

(a)       General.
The Company will maintain an office or agency in the continental United States where Notes may be presented for registration of
transfer or for exchange (the “Registrar”), an office or agency where the Notes may be presented for payment, repurchase
or redemption (the “Paying Agent”), an office or agency where the Notes may be presented for conversion (the “Conversion
Agent”) and an office or agency where notices and demands to, or upon, the Company with respect to the Notes and this Indenture
may be served.

 

The Registrar
will keep a register for the recordation of, and will record, the names and addresses of Holders, the Notes held by each Holder
and the transfer, exchange, repurchase, redemption and conversion of Notes (the “Register”). Absent manifest error,
the entries in the Register will be conclusive and the parties may treat each Person whose name is recorded in the Register pursuant
to the terms hereof as a Holder hereunder for all purposes of this Indenture. The Register will be in written form or in any form
capable of being converted into written form within a reasonably prompt period of time.

 

The Company
may have one or more registrars, one or more paying agents, one or more conversion agents and one or more places where notices
and demands to, or upon, the Company with respect to the Notes and this Indenture may be served. Before appointing any Registrar,
Paying Agent or Conversion Agent that is not otherwise a party to this agreement, the Company will enter into an appropriate agency
agreement with such Registrar, Paying Agent or Conversion Agent, as the case may be, which agency agreement will implement the
provisions of this Indenture that relate to such replacement or additional registrar, paying agent or conversion agent, as the
case may be. The term Registrar includes any additional registrars named pursuant to this Indenture. The term Paying Agent includes
any additional paying agent named pursuant to this Indenture. The term Conversion Agent includes any additional conversion agent
named pursuant to this Indenture. Upon the occurrence of any Event of Default under ‎Section 6.01(a)(ix) or ‎6.01(a)(x)
with respect to the Company, the Trustee shall be the Paying Agent.

 

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(b)       Initial
Designations. The Company initially appoints the Trustee as each of the Registrar, the Paying Agent, Conversion Agent, and
the Notes initially may be presented for registration of transfer or for exchange, payment, repurchase, redemption and conversion
to the Trustee, in its capacity as the Registrar, Paying Agent or Conversion Agent, as the case may be, at the Corporate Trust
Office. Notices and demands to, or upon, the Company with respect to the Notes and this Indenture may be served at the Corporate
Trust Office.

 

(c)       Removal,
Resignation and Replacement. The Company may remove any Registrar, Paying Agent or Conversion Agent by delivering written
notice to the Trustee and to such Registrar, Paying Agent or Conversion Agent; provided, however, that no such removal
will become effective unless (i) after such removal, at least one Registrar, Paying Agent and Conversion Agent will remain;
(ii) a successor has accepted appointment as Registrar, Paying Agent or Conversion Agent, as the case may be, the Company
and such successor have entered into an agency agreement in accordance with ‎Section 2.06(a) hereof, and the Company has delivered
written notice of such appointment and a copy of such agency agreement to the Trustee, or (iii) the Company has delivered
written notice to the Trustee that the Trustee will serve as the successor Registrar, Paying Agent or Conversion Agent, as the
case may be, in accordance with ‎Section 2.06(d) hereof; and provided, further, that the right to effect any
such change or removal in no way relieves the Company of its obligation to maintain a Registrar, Paying Agent and Conversion Agent
in the continental United States. The Company may also change the place where notices and demands to, or upon, the Company with
respect to the Notes and this Indenture may be served, or reduce the number of such places; provided, however, that
the right to effect any such change or reduction in no way relieves the Company of its obligation to maintain a place in the continental
United States where notices and demands to, or upon, the Company with respect to the Notes and this Indenture may be served.

 

In addition,
the Registrar, Paying Agent or Conversion Agent may resign at any time by delivering written notice of such resignation to each
of the Company and the Trustee. If, after any such resignation, at least one Registrar, Paying Agent and Conversion Agent does
not remain, the Trustee will immediately be deemed to serve such empty office or agency in accordance with ‎Section 2.06(d)
hereof.

 

(d)       Failure
to Maintain an Office or Agency. If the Company fails to maintain in the continental United States, a Registrar, Paying Agent,
Conversion Agent or place where notices and demands to, or upon, the Company with respect to the Notes and this Indenture may
be served, the Trustee will act as the Registrar, Paying Agent, Conversion Agent, or place, as the case may be, and the office
where the Notes may be presented for registration of transfer or for exchange, presented for payment, repurchase or redemption
or surrendered for conversion, or place where notices and demands to, or upon, the Company with respect to the Notes and this
Indenture may be served, as the case may be, will be the Corporate Trust Office. In each such case, the Trustee will be entitled
to compensation for such action pursuant to ‎Section 7.06 hereof.

 

(e)       Notices.
Promptly upon the effectiveness of any removal or appointment of a Registrar, Paying Agent or Conversion Agent, or upon any change
in the location of the office of any Registrar, Paying Agent or Conversion Agent, or of the place where notices and demands to,
or upon, the Company with respect to the Notes and this Indenture may be served, the Company will deliver to each Holder notice
of such removal, appointment or change in

 

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location, as
the case may be, which notice will include a brief description of the removal, appointment or change in location, as the case
may be, and list the name and address of each continuing (and newly appointed, if applicable) Registrar, Paying Agent and Conversion
Agent and place where notices and demands to, or upon, the Company with respect to the Notes and this Indenture may be served.

 

Section 2.07
     Money and Securities Held in Trust.

 

Except as
otherwise provided herein, by no later than 11:00 a.m., New York City time, on each due date for a payment on any Note, the Company
will deposit with the Paying Agent an amount of money in immediately available funds, if deposited on the due date sufficient
to make such payment when due.

 

The Company
will require that each Paying Agent (other than the Trustee, if the Trustee is a Paying Agent) agree in writing that it will (i) segregate
all money and securities it holds for making payments with respect to the Notes; (ii) hold such money and securities in trust
for the benefit of Holders; and (iii) notify the Trustee, in writing, as promptly as practicable, if the Company defaults
in making any payment on the Notes.

 

If any such
default has occurred and is continuing, the Paying Agent will, upon receiving a written request from the Trustee, forthwith pay
to the Trustee all of the money and securities it holds in trust. In addition, at any time, the Company may require a Paying Agent
to pay all money and securities that it holds for making payments with respect to the Notes to the Trustee and to account for
any money and securities it has disbursed. After delivering all of such money and securities to the Trustee pursuant to this ‎Section
2.07, the Paying Agent (in its capacity as such) will have no further liability for such money and securities.

 

Section 2.08
     Holder Lists.

 

The Trustee
will preserve in as current a form as is reasonably practicable the most recent list available to it of the names and addresses
of Holders. If the Trustee is not the Registrar, the Company will furnish to the Trustee, (i) within five Business Days after
each Regular Record Date, a list of the names and addresses of Holders as of such Regular Record Date, and (ii) at such other
times as the Trustee may request in writing, within 30 days after receipt by the Company of such request, a list of the names
and addresses of Holders as of no more than 15 days immediately prior to the date such list is furnished, in each case, in such
form as the Trustee may reasonably require.

 

Section 2.09
     Transfer
and Exchange.

 

(a)       Provisions
Applicable to All Transfers and Exchanges.

 

(i)       Subject
to the restrictions set forth in this ‎Section 2.09, Definitive Notes and beneficial interests in Global Notes may be transferred
or exchanged from time to time as desired, and each such transfer or exchange will be noted by the Registrar in the Register.

 

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(ii)       All
Notes issued upon any registration of transfer or exchange in accordance with this Indenture will be the valid obligations of
the Company, evidencing the same debt, and entitled to the same benefits under this Indenture as the Notes surrendered upon such
registration of transfer or exchange.

 

(iii)       No
service charge will be imposed on any Holder of a Definitive Note or any owner of a beneficial interest in a Global Note for any
exchange or registration of transfer, but each of the Company, the Trustee or the Registrar may require such Holder or owner of
a beneficial interest to pay a sum sufficient to cover any transfer tax, assessment or other governmental charge imposed in connection
with such registration of transfer or exchange.

 

(iv)       Unless
the Company specifies otherwise, none of the Company, the Trustee, the Registrar or any co-registrar will be required to exchange
or register a transfer of any Note (i) surrendered for conversion, except to the extent that any portion of such Note has
not been surrendered for conversion, (ii) subject to a Fundamental Change Repurchase Notice validly delivered pursuant to
‎Section 3.03 hereof, except to the extent any portion of such Note is not subject to a Fundamental Change Repurchase Notice
or the Company fails to pay the applicable Fundamental Change Repurchase Price when due, or (iii) after the Company has delivered
a Redemption Notice pursuant to ‎Section 11.03 hereof, except to the extent the Company fails to pay the applicable Redemption
Price when due.

 

(v)       The
Trustee will 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 Depositary participants or beneficial owners of interests in any Global 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.

 

(b)       In
General; Transfer and Exchange of Beneficial Interests in Global Notes. So long as the Notes are eligible for book-entry settlement
with the Depositary (unless otherwise required by law and except to the extent required by ‎Section 2.09(c) hereof):

 

(i)       all
Notes will be represented by one or more Global Notes;

 

(ii)       every
transfer and exchange of a beneficial interest in a Global Note will be effected through the Depositary in accordance with the
Applicable Procedures and the provisions of this Indenture (including the restrictions on Transfer set forth in ‎Section 2.10
hereof); and

 

(iii)       each
Global Note may be transferred only as a whole and only (A) by the Depositary to a nominee of the Depositary, (B) by
a nominee of the Depositary to the Depositary or to another nominee of the Depositary, or (C) by the

 

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Depositary
or any such nominee to a successor Depositary or a nominee of such successor Depositary.

 

(c)       Transfer
and Exchange of Global Notes.

 

(i)       Notwithstanding
any other provision of this Indenture, each Global Note will be exchanged for Definitive Notes if the Depositary delivers notice
to the Company that:

 

(1)       the
Depositary is unwilling or unable to continue to act as Depositary; or

 

(2)       the
Depositary is no longer registered as a clearing agency under the Exchange Act,

 

and, in each case, the Company
promptly delivers a copy of such notice to the Trustee and the Company fails to appoint a successor Depositary within 90 days
after receiving notice from the Depositary.

 

In each such
case, (1) each Global Note will be deemed surrendered to the Trustee for cancellation, (2) the Trustee will promptly
cancel each such Global Note in accordance with the Applicable Procedures, (3) the Company, (x) in accordance with ‎Section
2.05 hereof, will promptly execute, for each beneficial interest in each Global Note so cancelled, an aggregate principal amount
of Definitive Notes equal to the aggregate principal amount of such beneficial interest, registered in such name and authorized
denominations as the Depositary specifies, and bearing such legends as such Definitive Notes are required to bear under ‎Section
2.02 and ‎Section 2.10 hereof, and, (y) as provided in ‎Section 2.05(c) hereof, will promptly deliver to the Trustee
such Definitive Notes and a Company Order including the information specified in ‎Section 2.05(c) hereof with respect to such
Definitive Notes, and (4) the Trustee, upon receipt of such Definitive Notes and such Company Order, in accordance with ‎Section
2.05 hereof, will promptly authenticate, and deliver to the Holder specified in such Company Order, such Definitive Notes.

 

(ii)       In
addition:

 

(1)       if
an Event of Default has occurred and is continuing, any owner of a beneficial interest in a Global Note may exchange such beneficial
interest for Definitive Notes by delivering a written request to the Company, the Registrar and the Trustee; or

 

(2)       at
any time, the Company may, in its sole discretion, at the request of the owner of a beneficial interest in a Global Note, permit
the exchange of such owner’s beneficial interest, by delivering a written request to the Registrar, the Trustee and the
owner of such beneficial interest.

 

In each case,
(1) upon receipt of such request, the Registrar will promptly deliver written notice of such request to the Company and the
Trustee, which notice must identify the owner of the beneficial interest to be exchanged, the aggregate principal amount of such
beneficial interest

 

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and the CUSIP
number of the relevant Global Note; (2) the Trustee, upon receipt of such notice, will promptly cause the aggregate principal
amount of such Global Note to be reduced by the aggregate principal amount of the beneficial interest to be so exchanged in accordance
with the Applicable Procedures, (3) the Company (x) in accordance with ‎Section 2.05 hereof, will promptly execute,
for such beneficial interest, a Definitive Note having aggregate principal amount equal to the aggregate principal amount of such
beneficial interest, registered in the name of the owner specified in the notice delivered by the Registrar, and bearing such
legends as such Definitive Note is required to bear under Sections ‎2.02 and ‎2.10 hereof, and, (y) as provided in
‎Section 2.05(c) hereof, will promptly deliver to the Trustee such Definitive Note and a Company Order including the information
specified in ‎Section 2.05(c) hereof with respect to such Definitive Note, and (4) the Trustee, upon receipt of such
Definitive Note and such Company Order, will promptly, in accordance with ‎Section 2.05 hereof, authenticate, and deliver
to the Holder specified in such Company Order, such Definitive Note. If, after such exchange, all of the beneficial interests
in a Global Note have been exchanged for Definitive Notes, such Global Note will be deemed surrendered to the Trustee for cancellation,
and the Trustee will cause such Global Note to be cancelled in accordance with the Applicable Procedures.

 

(d)       Transfer
and Exchange of Definitive Notes. If Definitive Notes are issued, a Holder may:

 

(i)       transfer
a Definitive Note by: (A) surrendering such Definitive Note for registration of transfer to the Registrar, together with
any endorsements or instruments of transfer reasonably required by any of the Company, the Trustee and the Registrar; (B) if
such Definitive Note is a Restricted Note, delivering any documentation that any of the Company, the Trustee and the Registrar
require to ensure that such transfer complies with ‎Section 2.10 hereof and any applicable securities laws; and (C) satisfying
any other requirements for such transfer set forth in this ‎Section 2.09 and ‎Section 2.10 hereof. Upon the satisfaction
of conditions (A), (B) and (C), (1) the Company, (x) in accordance with ‎Section 2.05 hereof, will promptly
execute a new Definitive Note, in the name of the designated transferee, having an aggregate principal amount equal to that of
the transferred Definitive Note and bearing such legends as such Definitive Note is required to bear under Sections ‎2.02
and ‎2.10 hereof, and (y) as provided in ‎Section 2.05(c) hereof, will promptly deliver to the Trustee such Definitive
Note and a Company Order including the information specified in ‎Section 2.05(c) with respect to such Definitive Note, and
(2) the Trustee, upon receipt of such Definitive Note and such Company Order, will promptly, in accordance with ‎Section
2.05 hereof, authenticate, and deliver to the Holder specified in such Company Order, such Definitive Note.

 

(ii)       exchange
one or more Definitive Notes for one or more other Definitive Notes of any authorized denominations, and in aggregate principal
amount equal to the aggregate principal amount of the one or more Definitive Notes to be exchanged, by surrendering such one or
more Definitive Notes, together with any endorsements or instruments of transfer reasonably required by any of the Company, the
Trustee and the Registrar, at any office or agency maintained by the Company for such purposes pursuant to ‎Section 2.06 hereof.
Whenever a Holder so surrenders one or more Definitive Notes for exchange, (1) the Company, (x) in accordance with ‎Section
2.05

 

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hereof,
will promptly execute one or more new Definitive Notes, each in the name of such Holder, in the authorized denomination or denominations
that such Holder requested (which authorized denomination or authorized denominations, as the case may be, must, in aggregate,
equal the aggregate principal amount of the one or more Definitive Notes to be exchanged), and bearing a unique registration number
not contemporaneously outstanding and such legends as such Definitive Note is required to bear under Sections ‎2.02 and ‎2.10
hereof, and (y) as provided in ‎Section 2.05(c) hereof, will promptly deliver to the Trustee each such Definitive Note
and a Company Order including the information specified in ‎Section 2.05(c) with respect to each such Definitive Note, and
(2) the Trustee, upon receipt of each such Definitive Note and such Company Order, will promptly, in accordance with ‎Section
2.05 hereof, authenticate, and deliver to the Holder specified in such Company Order, each such Definitive Note.

 

(iii)       transfer
or exchange a Definitive Note for a beneficial interest in a Global Note by (A) surrendering such Definitive Note for registration
of transfer or exchange, together with any endorsements or instruments of transfer reasonably required by any of the Company,
the Trustee and the Registrar, at any office or agency maintained by the Company for such purposes pursuant to ‎Section 2.06
hereof; (B) if such Definitive Note is a Restricted Note, delivering any documentation that any of the Company, the Trustee
and the Registrar require to ensure that such transfer complies with ‎Section 2.10 hereof and any applicable securities laws;
(C) satisfying any other requirements for such transfer set forth in this ‎Section 2.09 and ‎Section 2.10 hereof;
and (D) providing written instructions to the Trustee to make an adjustment in its books and records with respect to the
applicable Global Note to reflect an increase in the aggregate principal amount of the Notes represented by such Global Note,
which instructions will contain information regarding the Depositary account to be credited with such increase. Upon the satisfaction
of conditions (A), (B), (C) and (D), the Trustee (1) will promptly cancel such Definitive Note and, (2) will promptly
cause the aggregate principal amount of Notes represented by such Global Note to be increased by the aggregate principal amount
of such Definitive Note, and credit, or cause to be credited, the account of the Person specified in the instructions provided
by the exchanging Holder in an amount equal to the aggregate principal amount of such Definitive Note, in each case, in accordance
with the Applicable Procedures. If at the time of such exchange, no Global Notes are then outstanding, the Company, (x) in
accordance with ‎Section 2.05 hereof, will promptly execute and deliver to the Trustee, a new Global Note registered in the
name of the Depositary or a nominee of the Depositary, as the case may be, having the appropriate aggregate principal amount,
and bearing such legends as such Global Note is required to bear under Sections ‎2.02 and ‎2.10 hereof, and (y) as
provided in ‎Section 2.05(c) hereof, will promptly deliver to the Trustee such Global Note and a Company Order including the
information specified in ‎Section 2.05(c) with respect to such Global Note, and (2) the Trustee, upon receipt of such
Global Note and such Company Order, will promptly, in accordance with ‎Section 2.05 hereof, authenticate, and deliver to the
depositary, its nominee, or a custodian of the depositary or its nominee, as the case may be, such Global Note.

 

Section
2.10      Transfer Restrictions.

 

(a)        Restricted
Notes.

 

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(i)       General.
Each Note (and every security issued in exchange therefor or substitution thereof, except any shares of Common Stock issued upon
conversion thereof, which may bear the Restricted Stock Legend) that bears, or that is required under this ‎Section 2.10 to
bear, the Restricted Notes Legend will be deemed a “Restricted Note,” and will be subject to the restrictions on Transfer
set forth in this Indenture (including in the Restricted Notes Legend) unless such restrictions on Transfer are eliminated or
otherwise waived by written consent of the Company, and each Holder of a Restricted Note, by such Holder’s acceptance of
such Restricted Note, will be deemed to be bound by the restrictions on Transfer applicable to such Note.

 

(ii)       When
Restrictions Apply. Except as provided elsewhere in this Indenture (including clause (iii) of this ‎Section 2.10(a)),
until the Free Trade Date of a Note, every certificate evidencing such Note (and every security issued in exchange therefor or
substitution thereof, except any shares of Common Stock issued upon the conversion thereof, which may be required to bear the
Restricted Stock Legend) will bear the Restricted Notes Legend unless:

 

(1)       such
Note is being Transferred to a person (other than (x) the Company or (y) an affiliate (as defined in Rule 144) of the
Company) pursuant to a registration statement that was effective under the Securities Act at the time of such Transfer; or

 

(2)       such
Note is being Transferred to a person (other than (x) the Company or (y) an affiliate (as defined in Rule 144) of the
Company) pursuant to an available exemption from the registration requirements of the Securities Act (including Rule 144) and,
after such Transfer, such Note will no longer constitute “a restricted security” (within the meaning of Rule 144),

 

and, with respect to clause (2)
of this ‎Section 2.10(a)(ii), the Holder effecting such Transfer delivers to the Trustee, the Company and the Registrar any
documents or evidence required pursuant to the Restricted Notes Legend or this Indenture (including, in the case of Definitive
Notes, clause (iii) of this ‎Section 2.10(a)).

 

(iii)       Termination
of Transfer Restrictions.

 

(1)       Except
as otherwise provided in this Indenture (including clause (2) of this ‎Section 2.10(a)(iii)) or as permitted under the terms
of the Restricted Notes Legend, if a Holder requests that the Company remove the Restricted Notes Legend from a Definitive Note
that is a Restricted Note, the Restricted Notes Legend will not be removed from such Restricted Note unless such Holder delivers,
(1) to each of the Company and the Registrar a transfer certificate in the form attached as Exhibit B hereto and,
(2) to each of the Company, the Registrar and the Trustee, any evidence that each of the Company, the Registrar and the Trustee,
as the case may be, reasonably require, that (x) neither the Restricted Notes Legend nor the Transfer restrictions set forth
therein are required to ensure that Transfers of such Restricted Note will comply with applicable law and (y) after such
Transfer, such Restricted Note will not be a “restricted security” (within the meaning of Rule 144); provided,
however, that, upon provision of such

 

     25

     

    

required
transfer certificate and evidence, the Company, the Trustee and the Registrar will permit such Restricted Note to be exchanged
in accordance with ‎Section 2.09(d)(ii) hereof for one or more new Definitive Notes that do not bear the Restricted Notes
Legend. In addition, upon receipt by the Trustee and the Registrar of a Company Order specifying that a Note need not bear the
Restricted Notes Legend to comply with applicable law, each of the Trustee and the Registrar will permit such Note to be exchanged
in accordance with ‎Section 2.09(d)(ii) hereof for one or more new Definitive Notes that do not bear the Restricted Notes
Legend.

 

(2)       At
any time on or after the Free Trade Date with respect to a Note, if such Note is represented by one or more Global Notes that
are Restricted Notes, the Company shall delegend such Note by:

 

(A)       providing
written notice to the Trustee and the Registrar that the Free Trade Date has occurred and instructing the Trustee to remove the
Restricted Notes Legend from such Global Notes or to deem the Restricted Notes Legend removed;

 

(B)       providing
written notice to each owner of a beneficial interest in any of such Global Notes, which notice will state that the Restricted
Notes Legend has been removed or has been deemed removed from the applicable Global Note and include the unrestricted CUSIP that
will thereafter apply to such applicable Global Note;

 

(C)       providing
written notice to the Trustee and the Depositary that the CUSIP number for each such Global Note will be changed to an unrestricted
CUSIP number, which unrestricted CUSIP number will be listed in such notice;

 

(D)       complying
with any Applicable Procedures for delegending; and

 

(E)       providing
written notice to the Transfer Agent that the Free Trade Date has occurred, whereupon the Restricted Notes Legend will be deemed
removed from such Global Notes.

 

(iv)       Reinstatement
of Restricted Notes Legend. If the Restricted Notes Legend is removed from the face of a Note and the Note is subsequently
held by the Company or an affiliate (as defined in Rule 144) of the Company, the Restricted Notes Legend will be reinstated.

 

(b)       Restricted
Stock. If any shares of Common Stock are issued upon conversion of any Notes, and such shares of Common Stock are issued prior
to the relevant Free Trade Date, then any certificate representing such shares of Common Stock will, upon such issuance, bear
the Restricted Stock Legend unless:

 

(i)       such
shares of Common Stock are being issued to a person (other than (x) the Company or (y) an affiliate (as defined in Rule
144) of the Company)

 

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pursuant
to a registration statement that is effective under the Securities Act at the time of such issuance;

 

(ii)       such
shares of Common Stock are being issued to a person (other than (x) the Company or (y) an affiliate (as defined in Rule
144) of the Company) pursuant to an available exemption from the registration requirements of the Securities Act such that, upon
issuance, such shares of Common Stock will not constitute “restricted securities” (within the meaning of Rule 144);
or

 

(iii)       the
Company delivers written notice to the Transfer Agent and the Registrar stating that the certificate representing such shares
of Common Stock need not bear the Restricted Stock Legend to comply with applicable law.

 

Section
2.11     Replacement Notes.

 

If (a)(i)
a mutilated Note is surrendered to the Registrar or (ii) the Holder of a Note claims that such Note has been lost, destroyed
or stolen and provides the Company and the Trustee with (A) evidence of such loss, theft or destruction that is reasonably
satisfactory to the Company and the Trustee and (B) any amount or kind of security or indemnity that either of the Company
or the Trustee reasonably request to protect itself from any loss that it may suffer upon replacement of such Note, and, in either
case, (b) such Holder satisfies any other reasonable requirements of the Trustee, including the payment of any tax or other
governmental charge that may be imposed in connection with the replacement of such Note, then, unless the Company or the Trustee
receives notice that such Note has been acquired by a bona fide purchaser, the Company will, in accordance with ‎Section 2.05
hereof, promptly execute and deliver to the Trustee, and the Trustee, upon receipt of a Company Order, in accordance with ‎Section
2.05 hereof, and the documents required by Sections 12.02 and ‎12.03 hereof, will promptly authenticate and deliver, in the
name of such Holder, a replacement Note having the same aggregate principal amount as the Note that was mutilated or claimed to
be lost, destroyed or stolen, bearing any restrictive legends required by ‎Section 2.02 or ‎2.10 hereof and with a certificate
number not contemporaneously outstanding.

 

Every new
Note issued pursuant to this ‎Section 2.11 in exchange for any mutilated Note, or in lieu of any destroyed, lost or stolen
Note, will constitute an original contractual obligation of the Company and any other obligor upon the Notes, regardless of whether
the mutilated, destroyed, lost or stolen Note will be at any time enforceable by anyone, and will be entitled to all benefits
of (and will be subject to all the limitations set forth in) this Indenture equally and proportionately with any and all other
Notes duly issued hereunder.

 

Section 2.12    Temporary
Notes. Until Definitive Notes are ready for delivery, the Company may execute and the Trustee or an authenticating agent appointed
by the Trustee will, upon written request of the Company, authenticate and deliver temporary Notes (printed or lithographed) (“Temporary
Notes”). Temporary Notes will be issuable in any authorized denomination, and substantially in the form of Definitive Notes,
but with such omissions, insertions and variations as may be appropriate for Temporary Notes, all as may be determined by the
Company. Every such Temporary Note will be executed by the Company and authenticated by the Trustee or such authenticating agent
upon the same conditions and in

 

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substantially the same manner,
and with the same effect, as the Definitive Notes. Without unreasonable delay the Company will prepare, execute and deliver to
the Trustee or such authenticating agent Definitive Notes (other than any Global Note) and thereupon any or all Temporary Notes
(other than any Global Note) may be surrendered in exchange therefor, at each office or agency maintained by the Company pursuant
to ‎Section 2.06 hereof and the Trustee or such authenticating agent will authenticate and deliver in exchange for
such Temporary Notes Definitive Notes having an aggregate principal amount equal to such Temporary Notes. Such exchange will be
made by the Company at its own expense and without any charge therefor. Until so exchanged, the Temporary Notes will, in all respects,
be entitled to the same benefits and subject to the same limitations under this Indenture as Definitive Notes authenticated and
delivered hereunder.

 

Section 2.13    Cancellation.
At any time, the Company may deliver Notes to the Trustee for cancellation. Whenever any Note is surrendered to the Registrar,
Conversion Agent or Paying Agent for registration of transfer, exchange, conversion, repurchase, redemption or payment, the Registrar,
Conversion Agent or Paying Agent, as the case may be, will promptly forward such Note to the Trustee. Upon receipt of any such
Note, the Trustee, in its customary manner, will promptly cancel and dispose of such Note. The Company may not issue new Notes
to replace Notes that it has repurchased, redeemed, paid or delivered to the Trustee for cancellation or that a Holder has converted
pursuant to ‎Article X hereof.

 

Section 2.14    Outstanding
Notes. At any time, Notes outstanding are limited to all Notes authenticated by the Trustee except (i) those cancelled
by it, (ii) those delivered to it for cancellation and (iii) those deemed not outstanding under Sections ‎3.05,
‎10.02 and ‎11.06 hereof and clauses (a) and (b) of this ‎Section 2.14.

 

(a)       If
a Note is replaced pursuant to ‎Section 2.11 hereof, such Note will cease to be outstanding at the time of its replacement
unless the Trustee and the Company receive proof satisfactory to them that such Note is held by a bona fide purchaser.

 

(b)       In
addition, if the Company, any other obligor or an Affiliate of the Company or an Affiliate of such other obligor holds a Note,
such Note will be disregarded and deemed not to be outstanding for purposes of determining whether the Holders of the requisite
aggregate principal amount of Notes have given or concurred in any request, demand, authorization, direction, notice, consent,
waiver or other action hereunder. Subject to the foregoing, only Notes outstanding at the time of any such determination will
be considered in such determination (including determinations pursuant to ‎Article VI and ‎Article IX hereof).

 

(c)       In
determining whether the Trustee shall be protected in relying upon any request, demand, authorization, direction, notice, consent
or waiver from the Holders, only Notes which a Responsible Officer of the Trustee knows to be owned by the Company or any other
obligor upon the Notes or any Affiliate of the Company or such other obligor shall be so disregarded. Notes so owned which have
been pledged in good faith may be regarded as outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee's
right to act as owner with respect to such Notes and that the pledgee is not the Company or any other obligor upon the Notes or
any Affiliate of the Company or such other obligor.

 

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Section 2.15    Persons
Deemed Owners. Prior to due presentment of a Note for registration of transfer, the Company, the Trustee and any agent of
the Company or the Trustee may treat the Person in whose name such Note is registered in the Register as the owner of such Note
for the purpose of receiving the payment of the principal, Fundamental Change Repurchase Price or Redemption Price of, and interest,
if any, on, such Note, for the purpose of conversion of such Note and for all other purposes whatsoever with respect to such Note,
and none of the Company, the Trustee or any agent of the Company or the Trustee will be affected by any notice to the contrary.

 

Section
2.16    Repurchases.
The Company may, from time to time, repurchase Notes in open market purchases or in negotiated transactions without delivering
prior notice to Holders.

 

Section 2.17    CUSIPs.

 

(a)       Whenever
“CUSIP” and “ISIN” numbers are generally in use, the Company will use CUSIP and ISIN numbers with respect
to the Notes, which CUSIP and ISIN numbers (i) for Restricted Notes, will be restricted numbers, and (ii) for Notes
that are not Restricted Notes, will be unrestricted numbers. Whenever the Company uses CUSIP and ISIN numbers, the Trustee will
also use CUSIP and ISIN numbers in each notice it delivers to the Holders; provided, that neither the Company nor the Trustee
will be responsible for any defect in any CUSIP or ISIN number that appears on any Note, check, advice of payment or notice, including
any notice delivered pursuant to ‎Section 11.03. The Company will promptly notify the Trustee in writing in the event of any
change in the CUSIP or ISIN numbers.

 

(b)       In
addition, if, when any shares of Common Stock are issued upon conversion of a Note, CUSIP and ISIN numbers are generally in use,
the Company will use CUSIP and ISIN numbers with respect to such shares of Common Stock, which CUSIP and ISIN numbers (i) for
shares of Common Stock to which the restrictions on Transfer set forth in the Restricted Stock Legend apply, will be restricted
numbers, and (ii) for shares of Common Stock to which the restrictions on Transfer set forth in the Restricted Stock Legend
do not apply, will be unrestricted numbers.

 

(c)       Whenever
any of the CUSIP or ISIN numbers with respect to the Notes or the shares of Common Stock issuable upon conversion of the Notes
change, cease to be used, or begin to be used, the Company will deliver prompt written notice of such change, cessation, or beginning
to each of the Trustee and the Holders.

 

Article
III

REPURCHASE AT THE OPTION OF THE HOLDER

 

Section
3.01      Fundamental Change Permits Holders to Require the Company to Repurchase the Notes.

 

(a)       General.
If a Fundamental Change occurs at any time prior to the Maturity Date, each Holder will have the right to require the Company
to repurchase all of its Notes or any portion of its Notes in principal amount equal to $1,000 or an integral multiple of $1,000
in excess thereof on the Fundamental Change Repurchase Date for such Fundamental Change for

 

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an amount of
cash equal to the Fundamental Change Repurchase Price for such Fundamental Change Repurchase Date and such Notes.

 

(b)       Fundamental
Change Repurchase Price. The “Fundamental Change Repurchase Price” means, for any Notes to be repurchased on any
Fundamental Change Repurchase Date, a price equal to 100% of the principal amount of such Notes, plus accrued and unpaid interest,
if any, on such Notes to, but excluding, such Fundamental Change Repurchase Date; provided, however, that if a Fundamental
Change Repurchase Date occurs after a Regular Record Date, but on or prior to the Interest Payment Date corresponding to such
Regular Record Date, the Company will pay the accrued and unpaid interest on such Notes, on such Interest Payment Date, to the
Holder of such Notes as of the Close of Business on such Regular Record Date, and the Fundamental Change Repurchase Price shall
not include such accrued and unpaid interest.

 

(c)       Fundamental
Change Repurchase Date. The “Fundamental Change Repurchase Date” means, for any Fundamental Change, the date specified
by the Company in the Fundamental Change Notice for such Fundamental Change, which date will be not less than 20 Business Days,
nor more than 35 Business Days, immediately following the Fundamental Change Notice Date for such Fundamental Change, subject
to extension to comply with applicable law.

 

Section 3.02
     Fundamental Change Notice.

 

(a)       General.
On or before the 10th calendar day immediately following the effective date of a Fundamental Change, the Company will deliver
to each Holder (and to any beneficial owners of a Global Note, as required by applicable law), the Trustee and the Paying Agent
written notice of such Fundamental Change and the resulting repurchase right (the “Fundamental Change Notice,” and
the date of such mailing, the “Fundamental Change Notice Date”). Simultaneously with mailing any Fundamental Change
Notice to the Holders, the Trustee and the Paying Agent, the Company will publish a notice containing the same information as
the Fundamental Change Notice in a newspaper of general circulation in The City of New York and on its website or through such
other public medium as the Company may use at such time.

 

For any Fundamental
Change, the Fundamental Change Notice corresponding to such Fundamental Change will specify:

 

(i)       briefly,
the events causing such Fundamental Change;

 

(ii)       the
effective date of such Fundamental Change;

 

(iii)       the
last date on which a Holder may exercise its right to require the Company to repurchase its Notes as a result of such Fundamental
Change under this ‎Article III;

 

(iv)       the
procedures that a Holder must follow to require the Company to repurchase a Note;

 

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(v)       the
Fundamental Change Repurchase Price for each $1,000 principal amount of Notes for such Fundamental Change;

 

(vi)       the
Fundamental Change Repurchase Date for such Fundamental Change;

 

(vii)       that
the Fundamental Change Repurchase Price for any Note for which a Fundamental Change Repurchase Notice has been duly tendered and
not validly withdrawn will be paid on the later of the Fundamental Change Repurchase Date and the time such Note is surrendered
for repurchase;

 

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

 

(ix)       the
Conversion Rate in effect on the Fundamental Change Notice Date for such Fundamental Change;

 

(x)       if
applicable, any adjustments that will be made to the Conversion Rate as a result of such Fundamental Change, including, if applicable,
any Additional Shares by which the Conversion Rate will be increased pursuant to ‎Section 10.07 hereof for a Holder that converts
a Note “in connection with” such Fundamental Change;

 

(xi)       that
any Notes with respect to which a Fundamental Change Repurchase Notice has been delivered by a Holder may be converted only if
such Holder withdraws such Fundamental Change Repurchase Notice in accordance with the terms of this Indenture or to the extent
any portion of such Notes are not subject to such Fundamental Change Repurchase Notice;

 

(xii)       the
procedures for withdrawing a Fundamental Change Repurchase Notice;

 

(xiii)       that
if a Note or portion of a Note is subject to a validly delivered Fundamental Change Repurchase Notice, unless the Company defaults
in paying the Fundamental Change Repurchase Price for such Note or portion of a Note, interest, if any, on such Note or portion
of a Note will cease to accrue on and after the Fundamental Change Repurchase Date; and

 

(xiv)       the
CUSIP and ISIN number(s) of the Notes.

 

(b)       Failure
or Defect. Notwithstanding anything provided elsewhere in this Indenture, neither the failure of the Company to deliver a
Fundamental Change Notice nor a defect in a Fundamental Change Notice delivered by the Company will limit the repurchase rights
of any Holder under this ‎Article III or impair or otherwise affect the validity of any proceedings relating to the repurchase
of any Note pursuant to this ‎Article III.

 

Section 3.03 
    Fundamental
Change Repurchase Notice.

 

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(a)       General.
To exercise its repurchase rights under ‎Section 3.01(a) hereof with respect to any Notes pursuant to a Fundamental Change,
the Holder thereof must deliver to the Paying Agent, by the Close of Business on the Business Day immediately preceding the Fundamental
Change Repurchase Date, subject to extension to comply with applicable law:

 

(i)       a
duly completed “Fundamental Change Repurchase Notice,” substantially in the form set forth in Exhibit A hereto
(a “Fundamental Change Repurchase Notice”) setting forth that such Holder is tendering such Notes for repurchase;
and

 

(ii)       such
Notes (A) by book-entry transfer if such Notes are Global Notes, or (B) by physical delivery, if such Notes are Definitive
Notes, in each case, together with any endorsements or other documents reasonably requested by the Paying Agent, the Trustee or
the Company.

 

(b)       Contents
of Fundamental Change Repurchase Notice. The Fundamental Change Repurchase Notice for any Note must state:

 

(i)       if
such Note is to be repurchased in part, the principal amount of such Note to be repurchased, which principal amount must equal
$1,000 or an integral multiple of $1,000 in excess thereof;

 

(ii)       that
such Note will be repurchased by the Company pursuant to the provisions of this ‎Article III hereof; and

 

(iii)       if
such Note is a Definitive Note, the certificate number of such Note.

 

(c)       If
the Notes to be repurchased are Global Notes, the Fundamental Change Repurchase Notice for such Notes must comply with the Applicable
Procedures.

 

(d)       Notice
to Company. If any Holder validly delivers to the Paying Agent a Fundamental Change Repurchase Notice with respect to a Note
or any portion of a Note, the Paying Agent will promptly deliver to the Company a copy of such Fundamental Change Repurchase Notice.

 

(e)       Effect
of Improper Notice. Unless and until the Paying Agent receives a validly endorsed and delivered Fundamental Change Repurchase
Notice with respect to a Note, together with such Note, in a form that conforms in all material aspects with the description contained
in such Fundamental Change Repurchase Notice, the Holder submitting the Notes will not be entitled to receive the Fundamental
Change Repurchase Price for such Note.

 

Section 3.04
     Withdrawal of Fundamental Change Repurchase Notice.

 

(a)       General.
After a Holder delivers a Fundamental Change Repurchase Notice with respect to a Note, such Holder may withdraw such Fundamental
Change Repurchase Notice with respect to such Note or any portion of such Note in principal amount equal to $1,000 or an integral
multiple of $1,000 in excess thereof by delivering to the Paying Agent a written

 

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notice of withdrawal
prior to the Close of Business on the Business Day immediately preceding the Fundamental Change Repurchase Date, subject to extension
to comply with applicable law.

 

Any such withdrawal
notice must state:

 

(i)       the
principal amount of the Notes with respect to which such notice of withdrawal pertains, which must equal $1,000 or an integral
multiple of $1,000 in excess thereof;

 

(ii)       the
principal amount of the Notes that remains subject to the original Fundamental Change Repurchase Notice, which portion must have
a principal amount equal to $1,000 or an integral multiple of $1,000 in excess thereof; and

 

(iii)       if
the Notes subject to such Fundamental Change Repurchase Notice were Definitive Notes, the certificate numbers of the Notes to
be withdrawn and the Notes that will remain subject to the Fundamental Change Repurchase Notice.

 

If the Notes
to be withdrawn are Global Notes, a Holder must deliver its notice of withdrawal in compliance with the Applicable Procedures.

 

(b)       Return
of Note. Upon receipt of a validly delivered withdrawal notice, the Paying Agent will promptly (i) if such notice pertains
to a Definitive Note or a portion of a Definitive Note, return such Note or portion of a Note to such Holder, in the amount specified
in such withdrawal notice; and, (ii) if such notice pertains to a beneficial interest in a Global Note, in compliance with
the Applicable Procedures, deem to be cancelled any instructions for book-entry transfer of such beneficial interest, in the amount
specified in such withdrawal notice.

 

(c)       Notice
to Company. If any Holder validly delivers to the Paying Agent a notice of withdrawal with respect to a Note or any portion
of a Note, the Paying Agent will promptly deliver to the Company a copy of such notice of withdrawal.

 

Section 3.05
     Effect
of Fundamental Change Repurchase Notice.

 

(a)       General.
If a Holder validly delivers to the Paying Agent a Fundamental Change Repurchase Notice (together with all necessary endorsements)
with respect to a Note, such Holder may no longer convert such Note unless and until such Holder validly withdraws such Fundamental
Change Repurchase Notice in accordance with ‎Section 3.04 hereof.

 

(b)       Timing
of Payment. Upon the Paying Agent’s receipt of (i) a valid Fundamental Change Repurchase Notice (together with
all necessary endorsements) and (ii) the Notes to which such Fundamental Change Repurchase Notice pertains, the Holder of
the Notes to which such Fundamental Change Repurchase Notice pertains will be entitled, except to the extent such Holder has validly
withdrawn such Fundamental Change Repurchase Notice in accordance with hereof, to receive the Fundamental Change Repurchase Price
with respect to such Notes on the later of the following (subject to extension to comply with applicable law) (i) the Fundamental
Change Repurchase Date and (ii)(A) if such Notes are Definitive Notes, the date of delivery of such Notes to the Paying Agent,
duly endorsed, or (B) if such Notes are

 

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Global Notes,
the date of book-entry transfer of such Notes to the Paying Agent, or, if such later date is not a Business Day, the Business
Day immediately following such later date.

 

(c)       Effect
of Deposit. If, as of 11:00 a.m., New York City time, on the Fundamental Change Repurchase Date for any Fundamental Change,
the Company, in accordance with ‎Section 3.08 hereof, has deposited with the Paying Agent money sufficient to pay the Fundamental
Change Repurchase Price for every Note subject to a Fundamental Change Repurchase Notice validly delivered in accordance with
‎Section 3.03 hereof and not validly withdrawn in accordance with ‎Section 3.04 hereof, at the Close of Business on the
Fundamental Change Repurchase Date:

 

(i)       the
Notes to be repurchased will cease to be outstanding and interest will cease to accrue on such Notes (whether or not book-entry
transfer of such Notes is made or whether or not such Notes are delivered to the Paying Agent), except to the extent provided
in the proviso to ‎Section 3.01(b); and

 

(ii)       all
other rights of the Holders of such Notes with respect to such Notes (other than the right to receive payment of the Fundamental
Change Repurchase Price upon delivery or transfer of such Notes and any Defaulted Amounts or Default Interest with respect to
the Notes, and other than as provided in the proviso to ‎Section 3.01(b)) will terminate.

 

Section
3.06      Notes Repurchased in Part. If any Definitive Note is to be repurchased only in part,
the Holder must surrender such Note at the office of the Paying Agent (with, if the Company or the Trustee so requires, due endorsement
by, or a written instrument of transfer in form satisfactory to the Company and the Trustee duly executed by, the Holder of such
Note or such Holder’s attorney-in-fact, duly authorized in writing), whereupon the Company, in accordance with ‎Section
2.05 hereof, will promptly execute, and, upon receipt of a Company Order and the documents required by Sections 12.02 and 12.03
hereof, the Trustee, in accordance with ‎Section 2.05 hereof, will promptly authenticate and deliver, to the surrendering
Holder, a new Note or Notes of any authorized denomination or denominations requested by such Holder in aggregate principal amount
equal to the portion of the principal amount of the Note so surrendered which is not repurchased. If any Global Note is repurchased
in part, the Company will instruct the Trustee to decrease the principal amount of such Global Note by the principal amount repurchased.
Any Notes that are repurchased or owned by the Company, whether or not in connection with a Fundamental Change, will be submitted
to the Trustee for cancellation and will be duly retired by the Company.

 

Section 3.07
    Covenant to Comply With Securities Laws Upon Repurchase of Notes. In connection with any repurchase offer
pursuant to a Fundamental Change Repurchase Notice under this ‎Article III, the Company will, to the extent applicable,
(i) comply with Rule 13e-4 and any other tender offer rules under the Exchange Act that may be applicable at the time of
the offer to repurchase the Notes, (ii) file the related Schedule TO (or any successor schedule, form or report) under the
Exchange Act, and (iii) otherwise comply with any applicable United States federal and state securities laws so as to permit
Holders to exercise their rights and obligations under ‎Section 3.01 hereof in the time and in the manner specified
in Sections ‎3.01 and ‎3.03 hereof.

 

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Section 3.08
    Deposit of Fundamental Change Repurchase Price. Prior to 11:00 a.m., New York City time, on the Fundamental
Change Repurchase Date, the Company will deposit with the Trustee or with the Paying Agent (or, if the Company or a Subsidiary
or an Affiliate of either of them is acting as the Paying Agent, will segregate and hold in trust as provided in ‎Section
2.07 hereof) an amount of immediately available funds sufficient to pay the Fundamental Change Repurchase Price of all the Notes
or portions thereof that the Company is required to repurchase on such Fundamental Change Repurchase Date.

 

Section 3.09
    Covenant Not to Repurchase Notes During a Continuing Acceleration With Respect to the Notes.

 

(a)       General.
Notwithstanding anything to the contrary in this ‎Article III, the Company will not purchase any Notes under this ‎Article
III if, as of the Fundamental Change Repurchase Date, the principal amount of the Notes has been accelerated, such acceleration
has not been rescinded and such acceleration did not result from a Default that would be cured by the Company’s payment
of the Fundamental Change Repurchase Price.

 

(b)       Deemed
Withdrawals. If, on any Fundamental Change Repurchase Date, (i) a Fundamental Change Repurchase Notice for a Note has
been validly tendered in accordance with ‎Section 3.03 hereof and has not been validly withdrawn in accordance with ‎Section
3.04 hereof, and (ii) pursuant to this ‎Section 3.09, the Company is not permitted to purchase Notes, the Paying Agent,
upon receipt of written notice from the Company stating that the Company, pursuant to this ‎Section 3.09, is not permitted
to purchase Notes, will deem such Fundamental Change Repurchase Notice withdrawn.

 

(c)       Return
of Notes. If a Holder tenders a Note for purchase pursuant to this ‎Article III and, on the Fundamental Change Repurchase
Date, pursuant to this ‎Section 3.09, the Company is not permitted to purchase such Note, the Paying Agent will (i) if
such Note is a Definitive Note, return such Note to such Holder, and (ii) if such Note is held in book-entry form, in compliance
with the Applicable Procedures, deem to be cancelled any instructions for book-entry transfer of such Note.

 

Article
IV

COVENANTS

 

Section 4.01     Payment
of Notes. The Company will pay or cause to be paid the principal of, Fundamental Change Repurchase Price or Redemption Price
for, and any accrued and unpaid interest on, the Notes on the dates and in the manner required under this Indenture. Any principal
of, Fundamental Change Repurchase Price or Redemption Price for, or interest on, a Note will be considered paid on the date due
if the Paying Agent, if other than the Company or a Subsidiary thereof, holds, as of 11:00 a.m. New York City time on the due
date, money deposited by the Company in immediately available funds and designated for, and sufficient to pay, such principal,
Fundamental Change Repurchase Price, Redemption Price or interest then due. To the extent lawful, the Company will also pay Default
Interest on any Defaulted Amounts in accordance with Section 2.04(d) hereof.

 

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Section 4.02      144A
Information. Whenever the Company is not subject to Section 13 or Section 15(d) of the Exchange Act, if any Notes
or shares of Common Stock, if any, issuable upon the conversion of the Notes constitute “restricted securities” within
the meaning of Rule 144, the Company will, upon the request of a Holder or beneficial owner of the Notes, or a holder or beneficial
owner of the Common Stock, if any, issuable upon the conversion of the Notes, promptly furnish or cause to be furnished to the
applicable Holder, beneficial owner, or any prospective purchaser designated by the applicable Holder or beneficial owner, of
the Notes, or any holder, beneficial owner, or any prospective purchaser designated by the applicable holder or beneficial owner,
of the Common Stock, as the case may be, all of the information that a prospective purchaser of the Notes or the Common Stock,
as the case may be, is required to receive under Rule 144A(d)(4) of the Securities Act for the Notes or shares of Common Stock,
as the case may be, to be resold to such prospective purchaser pursuant the exemption from registration provided by Rule 144A.

 

Section 4.03      Reports.
The Company will deliver to Holders, with a copy to the Trustee, copies of all quarterly and annual reports that the Company is
required to deliver to the SEC on Forms 10-Q and 10-K, and any other documents, information or other reports that the Company
is required to file with the SEC under Sections 13 or 15(d) of the Exchange Act (excluding any such information, documents or
reports, or portions thereof, subject to confidential treatment and any correspondence with the SEC) no later than the time that
the Company is required to file such quarterly and annual reports, other documents, information or other reports with the SEC
(after giving effect to any grace period provided by Rule 12b-25 under the Exchange Act). Any document filed by the Company with
the SEC via the EDGAR system (or any successor thereto) will be deemed to be delivered to Holders and the Trustee at the time
such document is filed via the EDGAR system (or such successor); provided, however, that the Trustee will have no
responsibility whatsoever to determine whether the Company has made any filing via the EDGAR system (or any successor thereto).
Notwithstanding anything to the contrary in the foregoing, nothing in this paragraph shall require the Company to deliver to any
Holder or the Trustee any material for which the Company has sought and received, or is seeking and has not been denied, confidential
treatment by the SEC.

 

Delivery
of such quarterly and annual reports, and such other documents, information and other reports to the Trustee will be for informational
purposes only, and the Trustee’s receipt of such will not constitute actual or 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 conclusively on Officers’ Certificates).

 

Section 4.04      Additional
Interest.

 

(a)       General.
If, at any time during the period beginning on, and including, the date that is six months after the Last Original Issue Date
and ending on, but not including, the Free Trade Date, the Company fails to timely file (after giving effect to any grace period
provided by Rule 12b-25) any document or report that it is required to file with the SEC pursuant to Sections 13 or 15(d) of the
Exchange Act, as applicable (other than current reports on Form 8-K), the Company will pay additional interest (the “Additional
Interest”) on the principal amount of then outstanding Notes. The Additional Interest will accrue from the due date of each
such

 

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missed filing
until the earlier of (i) the Free Trade Date and (ii) the date such failure to file is corrected.

 

Notwithstanding
the foregoing, in no event will any Additional Interest that may accrue pursuant to the immediately preceding paragraph, together
with any Extension Fee, accrue, in the aggregate, at a rate in excess of 0.50% per annum, regardless of the number of events or
circumstances giving rise to the requirement to pay such Additional Interest and/or Extension Fee.

 

In addition,
if the Notes are not Freely Tradable at all times after the fifth Business Day immediately following the Free Trade Date, the
Company will pay Additional Interest on the Notes. Such Additional Interest will accrue on each day during such period on which
the Notes are not Freely Tradable. The accrual of Additional Interest will be the exclusive remedy available to Holders for the
failure of the Notes to become Freely Tradable.

 

In each case,
the Additional Interest will be payable on the same dates and in the same manner as the stated interest on the Notes and will
initially accrue at the rate of 0.25% per annum on the principal amount of then outstanding Notes. If the Additional Interest
accrues for more than 90 consecutive days, the rate at which the Additional Interest accrues will increase to 0.50% per annum
on the principal amount of then outstanding Notes beginning on the 91st consecutive day on which it accrues and ending
on the last consecutive day on which it continues to accrue.

 

(b)       Notice
to Trustee. If the Company is required to pay Additional Interest on any Note, no later than five Business Days prior to the
date on which such Additional Interest is scheduled to be paid, the Company will provide to the Trustee (and if the Trustee is
not the Paying Agent, to the Paying Agent) an Officers’ Certificate, which Officers’ Certificate will state (i) that
the Company is obligated to pay Additional Interest pursuant to this ‎Section 4.04, (ii) the amount of such Additional
Interest that the Company is required to pay under this ‎Section 4.04, (iii) the amount of such Additional Interest that
the Company will pay, (iv) the scheduled date on which such Additional Interest will be paid to Holders and (v) a direction
that the Trustee (or, if the Trustee is not the Paying Agent, the Paying Agent) pay such Additional Interest to the extent it
receives funds from the Company to do so, on the scheduled payment date for such Additional Interest. The Trustee will not have
any duty or responsibility to any Holder to determine whether any Additional Interest is payable, or, if any Additional Interest
is payable, the amount of such Additional Interest that is payable.

 

Section 4.05     Compliance
Certificate.

 

(a)       Annual
Compliance Certificate. Within 90 days after the end of each fiscal year of the Company, beginning with the fiscal year ending
on December 31, 2017, the Company will deliver to the Trustee an Officers’ Certificate, which Officers’ Certificate
will state (i) that the Officers signing such Officers’ Certificate have supervised a review of the activities of the
Company and its Subsidiaries with a view to determining whether the Company has kept, observed, performed and fulfilled its obligations
under this Indenture during the preceding fiscal year, and (ii) to the best knowledge of each of the Officers signing such
Officers’ Certificate, (A) whether the Company has kept, observed, performed and fulfilled each and every covenant

 

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contained in
this Indenture and is not in default in the performance or observance of any of the terms, provisions and conditions of this Indenture
(without regard to any period of grace or requirement of notice provided under this Indenture) or, if one or more Defaults or
Events of Default have occurred, what events triggered such Defaults or Events of Default and what actions the Company is taking
or proposes to take with respect to such Defaults or Events of Default, and (B) whether any event has occurred and remains
in existence by reason of which any payment of the principal of, the Fundamental Change Repurchase Price or the Redemption Price
for, or interest on, or any delivery of any of the consideration due upon conversion of, a Note is prohibited, and, if any such
event has occurred and remains in existence, a description, in reasonable detail, of such event or events and what actions the
Company is taking or proposes to take with respect to such event or events.

 

(b)       Certificate
of Default or Event of Default. Within 30 days after a Default occurs, the Company will deliver to the Trustee an Officers’
Certificate describing such Default, its status and a description, in reasonable detail, of what action the Company is taking
or proposes to take with respect to such Default.

 

Section 4.06      Restriction
on Purchases by the Company and by Affiliates of the Company. Neither the Company nor any of its Subsidiaries will purchase
or otherwise acquire any Notes without canceling such Notes. In addition, the Company will use commercially reasonable efforts
to prevent any affiliate (as defined in Rule 144) of the Company (other than any of the Company’s Subsidiaries) from acquiring
any Note or any beneficial interest therein.

 

Section 4.07Additional
Amounts.

 

(a)       If
the Company consolidates with, or merges with or into any other Person, or sells, conveys, transfers or leases all or substantially
all of its property and assets to another Person and the resulting, surviving or transferee Person is not organized and validly
existing under the laws of the United States of America, any state thereof or the District of Columbia (such Person or any successor
thereto, the “Surviving Entity”), then all payments and deliveries made by, or on behalf of the Surviving Entity under
or with respect to the Notes, including, but not limited to, payments of principal (including, if applicable, the Redemption Price
or the Fundamental Change Repurchase Price), payments of interest and deliveries of cash, Common Stock or other Reference Property
(together with payment of cash in lieu of any fractional shares of Common Stock) upon conversion, shall be made without withholding
or deduction for, or on account of, any present or future taxes, duties, assessments or governmental charges of whatever nature
(“Taxes”) imposed or levied by or within any non-U.S. jurisdiction in which the Surviving Entity is, for tax purposes,
organized or resident or doing business or through which payment is made or deemed made by or on behalf of the Surviving Entity
for purposes of the tax law of such jurisdiction (or any political subdivision or taxing authority thereof or therein) (each,
as applicable, a “Relevant Taxing Jurisdiction”), unless such withholding or deduction is required by law or by regulation
or governmental policy having the force of law. In the event that any such withholding or deduction is so required, the Surviving
Entity shall pay to a Holder of each Note such additional amounts (the “Additional Amounts”) as necessary to ensure
that the net amount received by such Holder after such withholding or deduction (and after deducting any Taxes imposed or levied
by a Relevant Taxing Jurisdiction on the Additional Amounts) shall equal the amounts that would have been received by such Holders

 

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had no such
withholding or deduction been required; provided that no Additional Amounts will be payable for or on account of:

 

(i)       Any
Taxes to the extent such Taxes would not have been imposed but for:

 

(1)       the
existence of any present or former connection between the Holder or beneficial owner of such Note and the Relevant Taxing Jurisdiction,
including, without limitation, being or having been a national, domiciliary or resident of such Relevant Taxing Jurisdiction or
treated as a resident thereof or being or having been physically present or engaged in a trade or business therein or having or
having had a permanent establishment therein, (other than a connection arising solely as a result of the ownership of such Notes,
the receipt of any payment or the enforcement of any rights thereunder);

 

(2)       
the presentation of such Note (in cases in which presentation is required) more than 30 days after the later of the date on which
the payment of the principal of (including the Redemption Price or the Fundamental Change Repurchase Price, if applicable) and
interest on such Note or the delivery of cash, Common Stock and other Reference Property (together with payment of cash in lieu
of any fractional shares of Common Stock) upon conversion of such Note became due and payable pursuant to the terms thereof or
the date on which such payment or delivery was made or duly provided for, except to the extent that the Holder or beneficial owner
would have been entitled to the payment of the Additional Amounts had such Note been presented for payment on the last day of
such 30-day period; or

 

(3)       the
failure of the Holder or such beneficial owners to the extent they were legally entitled to do so, to comply with a timely request
from the Surviving Entity to provide certification, information, documents or other evidence concerning such Holder’s or
such beneficial owners’ nationality, residence, identity or connection with the Relevant Taxing Jurisdiction, or to make
any declaration or satisfy any other reporting requirement relating to such matters, if and to the extent that due and timely
compliance with such request is required by statute, regulation, treaty or administrative practice of the Relevant Taxing Jurisdiction
in order to reduce or eliminate any withholding or deduction as to which Additional Amounts would have otherwise been payable
to such Holder or beneficial owners;

 

(ii)       any
estate, inheritance, gift, sale, transfer, excise, personal property or similar Taxes;

 

(iii)       any
Taxes to the extent such Taxes result from the presentation of any Note for payment (where presentation is required for payment)
and the payment can be made without such withholding or deduction by the presentation of the Note for payment to at least one
other Paying Agent;

 

(iv)       any
Taxes that are payable otherwise than by deduction or withholding from payments under or with respect to the Notes;

 

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(v)       any
Tax that would not have been imposed but for a change in law, regulation, or administrative or judicial interpretation that becomes
effective more than 15 days after the payment becomes due or is duly provided for, whichever occurs later;

 

(vi)       any
Taxes required by sections 1471 through 1474 of the United States Internal Revenue Code of 1986, as amended (“FATCA”),
any current or future Treasury Regulations or rulings promulgated thereunder, any law, regulation or other official guidance enacted
in any jurisdiction implementing FATCA, any intergovernmental agreement between the United States and any other jurisdiction to
implement FATCA or any law enacted by such other jurisdiction to give effect to such agreement, or any agreement with the U.S.
Internal Revenue Service under FATCA; or

 

(vii)       
any combination of Taxes referred to in the preceding clauses (i) through (vi).

 

(b)       
Furthermore, Additional Amounts shall not be paid for any Taxes with respect to any payment of the principal of (including the
Redemption Price or the Fundamental Change Repurchase Price, if applicable) and interest on such Note or the delivery of cash,
Common Stock or other Reference Property (together with payment of cash in lieu of any fractional shares of Common Stock) upon
conversion of such Note to a Holder, if the Holder is a fiduciary, partnership or Person other than the sole beneficial owner
of that payment to the extent that such payment would be required to be included in the income under the laws of the Relevant
Taxing Jurisdiction, for tax purposes, of a beneficiary or settlor with respect to the fiduciary, a partner or member of that
partnership or a beneficial owner who would not have been entitled to such Additional Amounts had that beneficiary, settlor, partner,
member or beneficial owner been the Holder thereof.

 

(c)       Any
reference in this Indenture or the Notes in any context to the delivery of cash, Common Stock or other Reference Property (together
with payment of cash in lieu of any fractional shares of Common Stock) upon conversion of any Note or the payment of principal
of (including the Redemption Price or the Fundamental Change Repurchase Price, if applicable) and interest on, any Note or any
other amount payable with respect to such Note, shall be deemed to include payment of Additional Amounts to the extent that, in
such context, Additional Amounts are, were or would be payable in respect thereof pursuant to this ‎Section 4.07.

 

(d)       Each
Holder entitled to any Additional Amounts shall cooperate with the Surviving Entity and the Trustee in providing any information
or documentation reasonably requested by the Surviving Entity or the Trustee to confirm the identity and/or tax status of such
Holder and any affected beneficial owner (to the extent necessary to establish such Holder’s entitlement to Additional Amounts)
and to assist the Surviving Entity or Trustee in determining the applicable withholding tax rate and the amount of Additional
Amounts payable in respect thereof. The Company shall furnish to the Trustee documentation reasonably satisfactory to the Trustee
evidencing the payment of any Taxes so deducted or withheld and the amount of any Additional Amounts payable thereon. Copies of
such documentation shall be made available by the Trustee to the relevant Holders upon written request to the Trustee.

 

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(e)       The
obligations under this ‎Section 4.07 shall survive any termination or discharge of this Indenture and any transfer by a Holder
or beneficial owner of its Notes.

 

Section 4.08      Corporate
Existence. Subject to ‎Article V hereof, the Company will do or cause to be done all things necessary to preserve
and keep in full force and effect:

 

(a)       its
corporate existence, and the corporate, partnership or other existence of each of its Subsidiaries, in accordance with the respective
organizational documents (as the same may be amended from time to time) of the Company or any such Subsidiary; provided,
however, that the Company will not be required to preserve or keep in full force and effect the corporate, partnership
or other existence of any of its Subsidiaries, if the Board of Directors determines that the preservation thereof is no longer
desirable in the conduct of the business of the Company and its Subsidiaries, taken as a whole; and

 

(b)       the
rights (charter and statutory), licenses and franchises of the Company and its Subsidiaries; provided, however,
that the Company will not be required to preserve or keep in full force and effect any such right, license or franchise, or the
corporate, partnership or other existence of any of its Subsidiaries, if the Board of Directors determines that the preservation
thereof is no longer desirable in the conduct of the business of the Company and its Subsidiaries, taken as a whole.

 

Section 4.09      Stay,
Extension and Usury Laws. The Company covenants that, to the extent that it may lawfully do so, it will 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 wherever
enacted, now or at any time hereafter in force, that may affect the covenants or the performance of this Indenture; and the Company,
to the extent that 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 instead suffer and permit the execution of every such power as though no such law has been enacted.

 

Article
V

CONSOLIDATION, MERGER AND SALE OF ASSETS

 

Section
5.01      Company May Consolidate, Merge or Sell Its Assets Only on Certain Terms. The Company will not
(1) consolidate with or merge with or into any other Person, or (2) sell, convey, transfer or lease all or
substantially all of its properties and assets to another Person (any such transaction, a “Reorganization
Event”), unless:

 

(a)       either:

 

(i)       the
Company is the surviving corporation; or

 

(ii)       the
resulting, surviving or transferee Person (if other than the Company) of such Reorganization Event (the “Reorganization
Successor Corporation”) will be either:

 

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(1)       a
corporation organized and validly existing under the laws of the United States of America, any State thereof or the District of
Columbia; or

 

(2)       a
corporation or entity treated as a corporation for U.S. federal income tax purposes organized and validly existing under the laws
of the Islands of Bermuda, the Cayman Islands, Canada, Guernsey, Jersey, the Republic of Ireland, Luxembourg, the Netherlands,
Switzerland, France, Germany or the United Kingdom;

 

and
in either case of (1) or (2) above, such successor company expressly assumes, by executing and delivering a supplemental indenture
to the Trustee that is reasonably satisfactory in form to the Trustee in accordance with ‎Section 9.03 hereof, all of the
obligations of the Company under the Notes and this Indenture (including, for the avoidance of doubt, the obligation to pay Additional
Amounts);

 

(b)       immediately
after giving effect to such Reorganization Event, no Default will have occurred and be continuing; and

 

(c)       prior
to the effective date of such Reorganization Event, the Company delivers to the Trustee an Officers’ Certificate and an
Opinion of Counsel, each stating that:

 

(i)       such
Reorganization Event and such supplemental indenture comply with ‎Section 5.01(a) hereof; and

 

(ii)       all
conditions precedent to such Reorganization Event provided in this Indenture have been satisfied.

 

Section 5.02
     Successor Substituted. If any Reorganization Event occurs that complies with Sections ‎5.01(a)(ii)
and ‎5.01(b) hereof, and the Company has complied with ‎Section 5.01(c) hereof:

 

(a)       from
and after the date of such Reorganization Event, the Reorganization Successor Corporation for such Reorganization Event will 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 Reorganization Successor Corporation had been named as the Company herein; and

 

(b)       except
in the case of a Reorganization Event that is a lease of all or substantially all of the Company’s assets, the Person named
as the “Company” in the first paragraph of this Indenture or any successor (other than such Reorganization Successor
Corporation) that will thereafter have become such in the manner prescribed in this ‎Article V will be released from its obligations
under this Indenture and may be dissolved, wound up and liquidated at any time.

 

Article
VI

DEFAULTS AND REMEDIES

 

Section 6.01
    Events
of Default.

 

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(a)       General.
Each of the following events will be an “Event of Default”:

 

(i)       the
Company fails to pay the principal of the Notes (including any Fundamental Change Repurchase Price or Redemption Price) when due
at maturity, upon Redemption, repurchase upon a Fundamental Change, declaration of acceleration or otherwise;

 

(ii)       the
Company fails to pay any interest when due and such failure continues for a period of 30 days after the applicable due date;

 

(iii)       the
Company fails to give any Fundamental Change Notice, Redemption Notice or notice of a Make-Whole Fundamental Change, in each case,
when due;

 

(iv)       the
Company fails to comply with its obligation to convert a Note in accordance with ‎Article X hereof upon a Holder’s exercise
of its conversion rights with respect to such Note, and such failure continues for a period of five (5) Business Days;

 

(v)       the
Company fails to comply with its obligations under ‎Article V hereof;

 

(vi)       the
Company fails to perform or observe any of its covenants or warranties in this Indenture or in the Notes (other than a covenant
or agreement specifically addressed in clauses (i) through (iv) above) and such failure continues for a period of 60
days after (A) the Company receives notice of such failure from the Trustee or (B) the Company and the Trustee receive
notice of such failure from Holders of at least 25% of the aggregate principal amount of then outstanding Notes;

 

(vii)       the
default by the Company or any Significant Subsidiary with respect to any mortgage, agreement or other instrument under which there
may be outstanding, or by which there may be secured or evidenced, any indebtedness for money borrowed by the Company and/or any
Significant Subsidiaries in excess of $15,000,000 in the aggregate, whether such indebtedness exists as of the Issue Date or is
later created, if that default:

 

(1)       results
in such indebtedness becoming or being declared due and payable (prior to its express maturity); or

 

(2)       constitutes
a failure to pay the principal of, or interest on, such indebtedness when due and payable at its stated maturity, upon required
repurchase, upon declaration or otherwise;

 

and,
in each case, such acceleration shall not have been rescinded or annulled or such failure to pay shall not have been cured, as
the case may be, within 30 days after written notice to the Company by the Trustee or to the Company and the Trustee by the Holders
of at least 25% in principal amount of the Notes then outstanding has been received;

 

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(viii)       a
final judgment for the payment of $15,000,000 or more (excluding any amounts covered by insurance) is rendered against the Company
or any of its Significant Subsidiaries, and such judgment is not discharged, bonded, paid, waived or stayed within 60 days after
(x) the date on which all rights to appeal such judgment have expired if no appeal has commenced, or (y) the date on
which all rights to appeal have been extinguished;

 

(ix)       the
Company or any Significant Subsidiary, pursuant to or within the meaning of any Bankruptcy Law:

 

(1)       commences
a voluntary case;

 

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

 

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

 

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

 

(5)       takes
any comparable action under any foreign laws relating to insolvency; or

 

(6)       generally
is not paying its debts as they become due; or

 

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

 

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

 

(2)       appoints
a Custodian of the Company or any Significant Subsidiary, or for any substantial part of the property of the Company or any Significant
Subsidiary;

 

(3)       orders
the winding up or liquidation of the Company or any Significant Subsidiary; or

 

(4)       grants
any similar relief under any foreign laws;

 

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

 

(b)       Cause
Irrelevant. Each of the events enumerated in ‎Section 6.01(a) hereof will constitute an Event of Default whatever the
cause and regardless of whether voluntary or involuntary or effected by operation of law or pursuant to any judgment, decree or
order of any court or any order, rule or regulation of any administrative or governmental body.

 

Section 6.02
    Acceleration.

 

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(a)       Automatic
Acceleration in Certain Circumstances. If an Event of Default specified in Sections ‎6.01(a)(ix) or ‎6.01(a)(x) hereof
occurs with respect to the Company, the principal amount of, and all accrued and unpaid interest, if any, on, all of the then
outstanding Notes will immediately become due and payable without any further action or notice by any party.

 

(b)       Optional
Acceleration. If any Event of Default (other than an Event of Default specified in Sections ‎6.01(a)(ix) or ‎6.01(a)(x)
hereof with respect to the Company) occurs and is continuing, the Trustee, by delivering a written notice to the Company, or the
Holders of at least 25% in aggregate principal amount of the Notes then outstanding, by delivering a written notice to the Company
and the Trustee, may declare the principal amount of, and all accrued and unpaid interest, if any, on all then outstanding Notes
immediately due and payable, and upon such declaration, the principal amount of, and all accrued and unpaid interest, if any,
on all then outstanding Notes will immediately become due and payable.

 

(c)       Rescission
of Acceleration. Notwithstanding anything to the contrary in this Indenture, the Holders of a majority of the aggregate principal
amount of the then outstanding Notes may, on behalf of the Holders of all of the then outstanding Notes, rescind any acceleration
of the Notes and its consequences hereunder by delivering notice to the Trustee if (i) such rescission would not conflict
with any judgment or decree of a court of competent jurisdiction and (ii) all existing Events of Default (other than the
nonpayment of the principal of, interest, if any, on, or the Fundamental Change Repurchase Price or the Redemption Price for,
the Notes that has become due solely as a result of acceleration) have been cured or waived. No such rescission will affect any
subsequent Default or impair any right consequent thereto.

 

Section 6.03
     Other Remedies. If an Event of Default occurs and is continuing, the Trustee may pursue any available
remedy to collect the payment of principal, accrued and unpaid interest, if any, or payment of the Fundamental Change Repurchase
Price or Redemption Price for, the Notes or to enforce the performance of any provision of the Notes or this Indenture regarding
any other matter.

 

The Trustee
may maintain a proceeding even if it does not possess any of the Notes or does not produce any of the Notes 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 will not
impair the right or remedy or constitute a waiver of or acquiescence in the Event of Default. No remedy is exclusive of any other
remedy. All available remedies are cumulative.

 

Section 6.04
     Sole Remedy for Failure to Report.

 

(a)       General.
Notwithstanding anything to the contrary in the Notes or in this Indenture, the Company may elect that the sole remedy for any
Event of Default specified in ‎Section 6.01(a)(vi) hereof relating to the Company’s failure to comply with ‎Section
4.03 hereof (a “Reporting Event of Default”) will (i) for the first 90 days after the occurrence of such a Reporting
Event of Default (beginning on, and including, the date on which such a Reporting Event of Default first occurs), consist exclusively
of the right to receive special interest on the Notes at a rate equal to 0.25% per annum of the principal amount of such Notes
then outstanding for each day during such 90-day period on which such event of default is continuing and (ii) for

 

     45

     

    

the period
from, and including, the 91st day after the occurrence of such Reporting Event of Default to, and including, the 180th day after
the occurrence of such Reporting Event of Default, consist exclusively of the right to receive special interest on the Notes at
a rate equal to 0.50% per annum of the principal amount of Notes then outstanding for each day during such additional 90-day period
on which such event of default is continuing (such special interest, at either 0.25% or 0.50% per annum, as applicable, the (“Extension
Fee”)). Any Extension Fee will be payable in the same manner and on the same dates as the stated interest payable on the
Notes and will accrue in addition to any Additional Interest that the Company is obligated to pay under ‎Section 4.04 hereof.

 

(b)       Limitation
on Remedy. If (i) a Reporting Event of Default occurs and the Company elects that the sole remedy with respect to such
Reporting Event of Default will be the Extension Fee and (ii) on the 181st day immediately following, and including,
the date on which such Reporting Event of Default first occurred, such Reporting Event of Default has not been cured or validly
waived in accordance with ‎Section 6.05 hereof, then the Notes will become subject to acceleration under ‎Section 6.02(a)
hereof on account of such Reporting Event of Default.

 

(c)       Company
Election Notice. To elect to pay the Extension Fee as the sole remedy for a Reporting Event of Default, the Company must deliver
notice of such election to the Holders, the Paying Agent and the Trustee prior to the date on which such Reporting Event of Default
first occurs. Any such notice must include a brief description of the report that the Company failed, or will fail, to file, a
statement that the Company is electing to pay the Extension Fee and the date on which such Reporting Event of Default will occur.

 

If a Reporting
Event of Default occurs and the Company fails to timely deliver such notice for such Reporting Event of Default, the Notes will
be subject to acceleration under ‎Section 6.02(a) hereof on account of such Reporting Event of Default.

 

(d)       Other
Events of Default. Notwithstanding anything to the contrary herein, if the Company elects to pay the Extension Fee with respect
to any Reporting Event of Default, the Company’s election will not affect the rights of any Holder with respect to any other
Event of Default, including with respect to any other Reporting Event of Default; provided, that, for the avoidance of
doubt, in no event will the Company be obligated to pay the Extension Fee at a rate greater than 0.50% per annum on the principal
amount of then outstanding Notes.

 

(e)       Notwithstanding
the foregoing, in no event will any Extension Fee that may accrue pursuant to this ‎Section 6.04, together with any
Additional Interest that may accrue pursuant to the first paragraph of ‎Section 4.04(a), accrue, in the aggregate,
at a rate in excess of 0.50% per annum, regardless of the number of events or circumstances giving rise to the requirement to
pay such Extension Fee and/or Additional Interest.

 

Section 6.05
    Waiver of Past Defaults. If an Event of Default described in Sections ‎6.01(a)(i), ‎6.01(a)(ii),
‎6.01(a)(iv) or ‎6.01(a)(vi) (which, in the case of ‎Section 6.01(a)(vi) only, relates to a covenant
that cannot be amended without the consent of each affected Holder) or a Default that would lead to such an Event of Default occurs
and is continuing, such Event of Default or Default may be waived only with the consent of each

 

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affected Holder. Every other
Event of Default or Default may be waived by the Holders of a majority of the aggregate principal amount of then outstanding Notes.
Whenever any Event of Default is so waived, it will cease to exist, and whenever any Default is so waived, it will be deemed cured
and any Event of Default arising therefrom will be deemed not to occur. However, no such waiver will extend to any subsequent
or other Default or Event of Default or impair any consequent right.

 

Section 6.06
   Control
by Majority. At any time, the Holders of a majority of the aggregate principal amount of then outstanding Notes may direct
the time, method and place of conducting any proceeding for any remedy available to the Trustee or for exercising any trust or
power conferred on the Trustee. However, the Trustee may refuse to follow any direction that conflicts with law or this Indenture
or, subject to ‎Section 7.01 hereof, that the Trustee determines to be unduly prejudicial to the rights of a Holder
or to the Trustee, or that would potentially involve the Trustee in personal liability unless the Trustee is offered indemnity
or security satisfactory to it against any loss, liability or expense to the Trustee that may result from the Trustee’s
instituting such proceeding as the Trustee. Prior to taking any action hereunder, the Trustee will be entitled to indemnification
satisfactory to it against all losses, liabilities and expenses caused by taking or not taking such action.

 

Section 6.07
    Limitation on Suits. Except to enforce (i) its rights to receive the principal of, the Fundamental
Change Repurchase Price or the Redemption Price for, interest, if any, on, a Note, or (ii) the failure of the Company to
comply with its obligations under ‎Article X to convert any Note, no Holder may pursue a remedy with respect to this
Indenture or the Notes unless:

 

(a)       such
Holder has previously delivered to the Trustee written notice that an Event of Default has occurred and is continuing;

 

(b)       the
Holders of at least 25% of the aggregate principal amount of then-outstanding Notes deliver to the Trustee a written request that
the Trustee pursue a remedy with respect to such Event of Default;

 

(c)       such
Holder or Holders have offered and, if requested, provided, to the Trustee security or indemnity satisfactory to the Trustee against
any loss, liability or other expense of compliance with such written request;

 

(d)       the
Trustee has not complied with such written request within 60 days after receipt of such written request and offer of security
or indemnity; and

 

(e)       during
such 60-day period, the Holders of a majority of the aggregate principal amount of then outstanding Notes did not deliver to the
Trustee a direction inconsistent with such written request.

 

A Holder
may not use this Indenture to prejudice the rights of any other Holder or to obtain a preference or priority over any other Holder,
it being understood that the Trustee does not have any affirmative duty to ascertain whether any usage of this Indenture by a
Holder is unduly prejudicial to such other Holders.

 

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Section 6.08
   Rights
of Holders To Receive Payment. Notwithstanding any other provision of this Indenture, the right of any Holder to receive payment
of the principal of, the Fundamental Change Repurchase Price or the Redemption Price for, accrued and unpaid interest, if any,
on, and any consideration due under ‎Article X upon conversion of, its Note, on or after the respective due date, or
to bring suit for the enforcement of any such payment and/or delivery on or after the respective due date, will not be impaired
or affected without the consent of such Holder and will not be subject to the requirements of ‎Section 6.07 hereof.

 

Section 6.09
   Collection Suit by Trustee. If an Event of Default specified in ‎Section 6.01(a)(i), ‎6.01(a)(ii)
or ‎6.01(a)(iv) hereof occurs and is continuing, the Trustee is authorized to recover judgment in its own name and
as trustee of an express trust against the Company for the whole amount of principal of, the Fundamental Change Repurchase Price
or the Redemption Price for, interest, if any, on, and the Conversion Consideration, if any, due upon conversion of, the Notes,
and, to the extent lawful, any Default Interest on any Defaulted Amounts, and such further amount as is sufficient to cover the
costs and expenses of collection provided for under ‎Section 7.06 hereof.

 

Section 6.10
   Trustee May File Proofs of Claim. The Trustee is authorized to file such proofs of claim and other papers
or documents as may be necessary or advisable to have the claims of the Trustee and the Holders allowed in any judicial proceedings
relative to the Company, its creditors or its property and, unless prohibited by law or applicable regulations, will be entitled
to collect, receive and distribute any money or other property payable or deliverable on any such claims, 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 consents to the making of such payments directly to the Holders, to pay to the Trustee any amount due to it for the reasonable
compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee
under ‎Section 7.06 hereof. To the extent that the payment of any such compensation, expenses, disbursements and advances
of the Trustee, its agents and counsel, and any other amounts due the Trustee under ‎Section 7.06 hereof out of the
estate in any such proceeding, will be denied for any reason, payment of the same will be secured by a lien on, and will be paid
out of, any and all distributions, dividends, money, securities and other properties that the Holders may be entitled to receive
in such proceeding whether in liquidation or under any plan of reorganization or arrangement or otherwise. Nothing herein contained
will be deemed to authorize the Trustee to authorize or consent to, or to accept or to adopt on behalf of any Holder, any plan
of reorganization, arrangement, adjustment or composition affecting the Notes or the rights of any Holder, or to authorize the
Trustee to vote in respect of the claim of any Holder in any such proceeding.

 

Section 6.11
   Priorities.
If the Trustee collects any money or property pursuant to this ‎Article VI, it will pay out the money or property in
the following order:

 

FIRST: to
the Trustee, its agents and attorneys for amounts due under ‎Section 7.06 hereof, including payment of all compensation, expenses
and liabilities incurred, and all advances made, by the Trustee and the costs and expenses of collection;

 

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SECOND: to
the Holders, for any amounts due and unpaid on the principal of, the Fundamental Change Repurchase Price or the Redemption Price
for, accrued and unpaid interest on, and any Conversion Consideration due upon the conversion of, any Note, without preference
or priority of any kind, according to such amounts due and payable on all of the Notes; and

 

THIRD: the
balance, if any, to the Company or to such other party as a court of competent jurisdiction directs.

 

The Trustee
may fix a record date and payment date for any payment to the Holders pursuant to this ‎Section 6.11. If the Trustee so fixes
a record date and a payment date, at least 15 days prior to such record date, the Company will deliver to each Holder and the
Trustee, or, if the Company fails to do so the Trustee will deliver to each Holder, a written notice, which notice will state
such record date, such payment date and the amount of such payment.

 

Section 6.12
   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 6.12 does not apply to a suit by the Trustee, a suit
by a Holder pursuant to ‎Section 6.08 hereof or a suit by Holders of more than 10% in aggregate principal amount of
the then outstanding Notes.

 

Article
VII

TRUSTEE

 

Section 7.01
   Duties
of Trustee.

 

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

 

(b)       Except
during the continuance of an Event of Default, the Trustee undertakes to perform such duties, and only such duties, as are specifically
set forth in this Indenture, and no implied covenants or obligations will be read into this Indenture against the Trustee and,
in the absence of bad faith on its part, the Trustee may conclusively rely upon certificates or opinions furnished to the Trustee
and conforming to the requirements of this Indenture.

 

(c)       The
Trustee may not be relieved from liabilities for its own gross negligence or its own willful misconduct, except that:

 

(i)       this
paragraph does not limit the effect of ‎Section 7.01(b) hereof;

 

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(ii)       the
Trustee will not be liable for any error of judgment made in good faith unless it is proved that the Trustee was negligent in
ascertaining the pertinent facts; and

 

(iii)       the
Trustee will not be liable with respect to any action it takes or omits to take in good faith by a Responsible Officer in accordance
with a direction received by it pursuant to Sections ‎6.06, 12.02 or ‎12.03 hereof.

 

(d)       Whether
herein expressly so provided, every provision of this Indenture that in any way relates to the Trustee is subject to Sections
‎7.01(a), (b) and (c) hereof.

 

(e)       The
Trustee will not be liable for interest on any money received by it.

 

(f)       Money
held in trust by the Trustee need not be segregated from other funds except to the extent required by law.

 

(g)       No
provision of this Indenture will require the Trustee to expend or risk its own funds or otherwise incur financial liability in
the performance of any of its duties hereunder or in the exercise of any of its rights or powers.

 

(h)       Every
provision of this Indenture relating to the conduct or affecting the liability of or affording protection to the Trustee will
be subject to the provisions of this ‎Article VII, and the provisions of this ‎Article VII will apply to the Trustee,
Registrar, Paying Agent and Conversion Agent.

 

(i)       The
Trustee will not be deemed to have notice of a Default or an Event of Default unless a Responsible Officer of the Trustee has
received written notice at its Corporate Trust Office thereof from the Company or any Holder.

 

Section 7.02  
   Rights
of Trustee.

 

(a)       The
Trustee may conclusively rely upon any document 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. The Trustee may, however, in its discretion
make such further inquiry or investigation into such facts or matters as it may see fit and, if the Trustee determines to make
such further inquiry or investigation, it will be entitled to examine the books, records and premises of the Company, personally
or by agent or attorney and at the expense of the Company, and will incur no liability of any kind by reason of such inquiry or
investigation.

 

(b)       Before
the Trustee acts or refrains from acting, it may require an Officers’ Certificate or an Opinion of Counsel or both. The
Trustee will not be liable for any action it takes or omits to take in good faith in reliance on the Officers’ Certificate
or Opinion of Counsel.

 

(c)       The
Trustee may act through agents, attorneys or custodians and will not be responsible for the misconduct or negligence of any agent,
attorney or custodian appointed with due care.

 

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(d)       So
long as the Trustee’s conduct does not constitute willful misconduct or gross negligence, the Trustee will not be liable
for any action it takes or omits to take in good faith that it believes to be authorized or within the rights or powers conferred
upon it by this Indenture.

 

(e)       The
Trustee may consult with counsel of its own selection, and the advice or Opinion of Counsel with respect to legal matters relating
to this Indenture and the Notes will be full and complete authorization and protection from liability in respect to any action
taken, omitted or suffered by it hereunder in good faith and in accordance with the advice or opinion of such counsel.

 

(f)       The
permissive rights of the Trustee to do things enumerated in this Indenture will not be construed as a duty unless so specified
herein.

 

(g)       The
Trustee will be under no obligation to exercise any of the rights, trusts or powers vested in it by this Indenture, and may refuse
to perform any duty or exercise any such rights or powers, including but not limited to acting at the request or direction of
any of the Holders pursuant to this Indenture, unless such Holders have offered to the Trustee security or indemnity satisfactory
to the Trustee against the costs, expenses and liabilities that might be incurred by it in compliance with such request or direction.

 

(h)       The
rights, privileges, protections, immunities and benefits given to the Trustee, including its right to be indemnified, are extended
to, and will be enforceable by, the Trustee in each of its capacities hereunder, and each agent, custodian and other Person employed
to act hereunder, including the Registrar, Paying Agent and Conversion Agent.

 

(i)       In
no event will the Trustee be responsible or liable for special, indirect, punitive 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.

 

(j)       The
Trustee shall not be charged with knowledge of any default or Event of Default with respect to the Notes for which it is acting
as Trustee unless a Responsible Officer has received written notice of such default or Event of Default from the Company or any
other obligor on such Notes or from any Holder of such Notes.

 

(k)       The
Trustee will accept all notices, reports and other information that are required to be provided or delivered to it pursuant to
the Indenture, and, where required hereunder, will determine whether such notices, reports or other information are satisfactory
to it in form; provided, however that delivery of such reports, information and documents to the Trustee is for
informational purposes only and, except for any explicit notice of an Event of Default from the Company or a Holder, the Trustee's
receipt of such shall not constitute actual or constructive knowledge or notice of any information contained therein or determinable
from information contained therein, including the Company's compliance with any of its covenants hereunder.

 

(l)       The
Trustee may request that the Company deliver an incumbency certificate setting forth the names of individuals and/or titles of
officers authorized at such time

 

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to take specified
actions pursuant to this Indenture, which incumbency certificate may be signed by any Person authorized to sign an Officers’
Certificate or any other Person specified as so authorized in any incumbency certificate previously delivered and not superseded.

 

(m)       The
Trustee shall be under no liability for interest on any money received by it hereunder except as otherwise agreed in writing with
the Company.

 

Section 7.03
     Individual Rights of Trustee. The Trustee in its individual or any other capacity may become the owner
or pledgee of Notes and may otherwise deal with the Company or its Affiliates with the same rights it would have if it were not
Trustee. However, if the Trustee acquires any conflicting interest it must eliminate the conflict within 90 days or resign. Any
Paying Agent, Registrar, Conversion Agent or co-registrar may do the same with like rights. However, the Trustee must comply with
‎Section 7.09 hereof.

 

Section 7.04
     Trustee’s Disclaimer. The recitals contained herein and in the Notes, except the certificates
of authentication, shall be taken as the statements of the Company, and the Trustee assumes no responsibility for their correctness.
The Trustee will not be responsible for and makes no representation as to the validity, priority or adequacy of this Indenture
or the Notes, it will not be accountable for the Company’s use of the proceeds from the Notes, and it will not be responsible
for any statement of the Company in this Indenture or in any document issued in connection with the sale of the Notes or in the
Notes other than the Trustee’s certificate of authentication. The Trustee shall not be responsible or liable for any failure
of the Company or any other party to comply with any securities laws, including, without limitation, the U.S. Securities Act of
1933, as amended and the U.S. Investment Company Act of 1940, as amended.

 

Section 7.05
     Notice of Defaults. If a Default occurs and is continuing and a Responsible Officer of the Trustee is
notified in writing of such default, the Trustee will send to each Holder notice of the Default within 90 days after such Default
first occurs, or, if it is not known to the Trustee at such time, as soon as practicable after a Responsible Officer of the Trustee
receives such notice; provided, however, that except in the case of a Default that is, or would lead to, an Event
of Default described in ‎Section 6.01(a)(i), ‎6.01(a)(ii) or ‎6.01(a)(iv) hereof, the Trustee
may withhold the notice if and so long as a committee of its Responsible Officers in good faith determines that withholding the
notice is in the interests of Holders.

 

Section 7.06
     Compensation and Indemnity.

 

(a)       The
Company will pay to the Trustee reasonable compensation for its services. The Trustee’s compensation will not be limited
by any law on compensation of a trustee of an express trust. The Company will reimburse the Trustee upon request for all reasonable
out-of-pocket fees and expenses incurred or made by it, including costs of collection, in addition to the compensation for its
services. Such expenses will include the reasonable compensation, fees and expenses, disbursements and advances of the Trustee’s
agents, counsel, accountants and experts. The Company will fully indemnify the Trustee against any and all loss, liability, claim,
damage or expense (including reasonable attorneys’ fees and expenses) incurred by it in connection with the acceptance and
administration of this trust or the performance of its duties hereunder, including the costs and expenses of defending itself
against any claim (whether asserted by the Company, any Holder or any other Person). The Trustee will notify the Company

 

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promptly of
any claim for which it may seek indemnity. Failure by the Trustee to so notify the Company of any claim for which it may seek
indemnity of which a Responsible Officer has actually received written notice will not relieve the Company of its obligations
hereunder except to the extent such failure is adjudicated by a court of competent jurisdiction to have materially prejudiced
the Company. The Company will defend the claim and the Trustee will cooperate in the defense. If the Trustee is advised by counsel
that it may have available to it defenses that are in conflict with the defenses available to the Company, then the Trustee may
have separate counsel, and the Company will pay the reasonable fees and expenses of such counsel. The Company will pay the reasonable
fees and expenses of counsel to the Trustee incurred in evaluating whether such defense and/or conflict exists. The Company need
not reimburse any expense or indemnify against any loss, liability or expense incurred by the Trustee through the Trustee’s
own willful misconduct or gross negligence. The Company need not pay for any settlement made by the Trustee without the Company’s
consent, such consent not to be unreasonably withheld. All indemnifications and releases from liability granted hereunder to the
Trustee will extend to its officers, directors, employees, agents, attorneys, custodians, successors and assigns.

 

(b)       If
the indemnification provided for in the preceding paragraph is invalid or unenforceable in accordance with its terms, then the
Company shall contribute to the amount paid or payable by the Trustee as a result of such liability in such proportion as is appropriate
to reflect the relative benefits received by the Company on one hand and the Trustee on the other from the transactions relating
to the Indenture.

 

(c)       The
term “liability”, as used herein, shall mean any losses, claims, damages, expenses (including without limitation the
Trustee’s reasonable and documented costs and expenses in defending itself against any losses, claims or investigations
of any nature whatsoever or in bringing an action) or other liabilities, joint or several, arising out of or in connection with
any claim, litigation, investigation or proceeding relating to the Indenture and any transactions contemplated thereby (including,
without limitation, any claim, litigation, investigation or proceeding asserting violation of applicable laws).

 

(d)       To
secure the Company’s payment obligations under this ‎Section 7.06, the Trustee will have a lien prior to the Notes on
all money or property held or collected by the Trustee, other than money or property held in trust to pay the principal, accrued
and unpaid interest, if any, or payment of the Fundamental Change Repurchase Price or Redemption Price on particular Notes.

 

(e)       The
Company’s payment obligations pursuant to this ‎Section 7.06 will survive the resignation or removal of the Trustee
and the discharge of this Indenture. If the Trustee incurs expenses after the occurrence of a Default specified in Sections ‎6.01(a)(ix)
or ‎6.01(a)(x) hereof with respect to the Company, the expenses are intended to constitute expenses of administration under
the Bankruptcy Law.

 

Section 7.07
      Replacement of Trustee.

 

(a)       The
Trustee may resign at any time by notifying the Company, in writing, at least 30 days prior to the proposed resignation. The Holders
of a majority in aggregate

 

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principal amount
of then outstanding Notes may remove the Trustee by notifying the Trustee, in writing. The Company may remove the Trustee if:

 

(i)       the
Trustee fails to comply with ‎Section 7.09 hereof;

 

(ii)       the
Trustee is adjudged bankrupt or insolvent;

 

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

 

(iv)       the
Trustee otherwise becomes incapable of acting.

 

(b)       If
the Trustee resigns, is removed by the Company or by the Holders of a majority in aggregate principal amount of the Notes then
outstanding, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein
as the retiring Trustee), the Company will promptly appoint a successor Trustee.

 

(c)       A
successor Trustee will deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon,
the resignation or removal of the retiring Trustee will become effective, and the successor Trustee will have all the rights,
powers and duties of the Trustee under this Indenture. The successor Trustee will send a notice of its succession to Holders.
The retiring Trustee will, upon payment of all of its costs and the costs of its agents and counsel, promptly transfer all property
held by it as Trustee to the successor Trustee, subject to the lien provided for in ‎Section 7.06 hereof.

 

(d)       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 at least 10% of the aggregate principal amount of the Notes then outstanding may petition, at the
expense of the Company, any court of competent jurisdiction for the appointment of a successor Trustee.

 

(e)       If
the Trustee, after written request by any Holder, fails to comply with ‎Section 7.09 hereof, such Holder may petition any
court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee.

 

(f)       Notwithstanding
the replacement of the Trustee pursuant to this ‎Section 7.07, the Company’s obligations under ‎Section 7.06 hereof
will continue for the benefit of the retiring Trustee.

 

Section 7.08
      Successor Trustee by Merger.

 

(a)       If
the Trustee consolidates with, merges or converts into, or transfers all or substantially all its corporate trust business or
assets to, another corporation or banking association, the resulting, surviving or transferee corporation or banking association
without any further act will be the successor Trustee.

 

(b)       In
case at the time such successor or successors by merger, conversion or consolidation to the Trustee succeeds to the trusts
created by this Indenture, any of the Notes have been authenticated, but not delivered, any such successor to the Trustee may
adopt the

 

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certificate
of authentication of any predecessor Trustee, and deliver such Notes so authenticated; and, in case at that time any of the Notes
have not been authenticated, any such successor to the Trustee may authenticate such Notes, either in the name of any predecessor
Trustee hereunder or in the name of the successor to the Trustee.

 

Section 7.09
      Eligibility; Disqualification. The Trustee will have (or, in the case of a corporation
included in a bank holding company system, the related bank holding company will have) a combined capital and surplus of at least
$100,000,000 as set forth in its (or its related bank holding company’s) most recent published annual report of condition.

 

Section 7.10
      Trustee’s Application for Instructions from the Company. Any application by the
Trustee for written instructions from the Company may, at the option of the Trustee, set forth in writing any action proposed
to be taken or omitted by the Trustee under this Indenture and the date on and/or after which such action will be taken or such
omission will be effective. The Trustee will not be liable to the Company for any action taken by, or omission of, the Trustee
in accordance with a proposal included in such application on or after the date specified in such application (which date will
not be less than three Business Days after the date any Officer actually receives such application, unless any such Officer has
consented in writing to any earlier date), unless prior to taking any such action (or the effective date in the case of any omission),
the Trustee has received written instructions in response to such application specifying the action to be taken or omitted.

 

Section 7.11
      Withholding. In order to comply with applicable tax laws (inclusive of rules, regulations
and interpretations promulgated by competent authorities) related to this Indenture in effect from time to time (“Applicable
Tax Law”) that a foreign financial institution, the Company, Trustee, Paying Agent or other party is (or has agreed to be)
subject to, the Company agrees (i) upon the reasonable request of the Trustee or the Paying Agent to provide to the Trustee and
the Paying Agent information about the Notes (including any modification to the terms of such Notes) that the Company has in its
possession, sufficient to permit the Trustee and Paying Agent to determine whether it has tax related obligations under Applicable
Law, (ii) that the Trustee and the Paying Agent shall be entitled to make any withholding or deduction from payments to the extent
necessary to comply with Applicable Tax Law, and (iii) pursuant to ‎Section 7.06(a) and subject to the limitations
set forth therein, to hold the Trustee and the Paying Agent harmless for any losses it may suffer to the extent it is complying
with Applicable Tax Law. The terms of this section shall survive the termination of this Indenture.

 

Article
VIII

SATISFACTION AND DISCHARGE

  

Section 8..01
     Discharge of Liability on Notes. When (a)(i) the Company delivers to the Registrar all outstanding
Notes (other than Notes replaced pursuant to ‎Section 2.11 hereof) for cancellation or (ii) all outstanding Notes
have become due and payable, and the Company irrevocably deposits with the Trustee or delivers to the Holders, as applicable,
cash or, solely to satisfy amounts due and owing as a result of conversions of the Notes, cash and/or shares of Common Stock (or,
if applicable, Reference Property) and cash in lieu of fractional shares of Common Stock (or, if applicable, Reference Property
Units), sufficient to pay all amounts due

 

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and owing on all outstanding
Notes (other than Notes replaced pursuant to ‎Section 2.11 hereof), (b) the Company pays all other sums payable
by it under this Indenture with respect to the then outstanding Notes and (c) the Company delivers to the Trustee an Officers’
Certificate and an Opinion of Counsel, each stating that such discharge is authorized and permitted under this Indenture and that
all of the applicable conditions precedent to the discharge of this Indenture have been satisfied, then, subject to ‎Section
7.06 hereof, this Indenture will cease to be of further effect with respect to the Notes and the Holders and the Trustee will
acknowledge the satisfaction and discharge of this Indenture with respect to the Notes.

 

Notwithstanding
the satisfaction and discharge of this Indenture, (i) any obligation of the Company to any Holder under ‎Article X hereof
with respect to the conversion of any Note or to the Trustee under ‎Article VII hereof with respect to compensation or indemnity,
and (ii) any obligation of the Trustee with respect to money deposited with the Trustee under this ‎Article VIII and
‎Section 11.05 hereof will survive.

 

Section 8..02
    Repayment to the Company. Subject to any applicable unclaimed property law, the Trustee and the
Paying Agent, upon receiving a written request from the Company, will promptly turn over to the Company any cash, securities,
including shares of Common Stock, or other property held for payment on the Notes that remains unclaimed two years after the date
on which such payment was due. After the Trustee and the Paying Agent return such cash and securities, including shares of the
Common Stock, to the Company, the Trustee and the Paying Agent will have no further liability to any Holder with respect to such
cash, securities, including shares of Common Stock, or other property, and any Holder entitled to the payment of such cash, securities,
including shares of Common Stock, or other property under the Notes or this Indenture must look to the Company for payment as
a general creditor of the Company.

 

Article
IX

AMENDMENTS, SUPPLEMENTS AND WAIVERS

 

Section
9.01      Without Consent of Holders. The Company and the Trustee may amend or
supplement this Indenture or the Notes without the consent of any Holder:

 

(a)       to
add guarantees with respect to the Company’s obligations under this Indenture or the Notes;

 

(b)       to
secure the Notes;

 

(c)       to
provide for the assumption of the Company’s obligations under this Indenture and under the Notes by a Reorganization Successor
Corporation as described in ‎Article V hereof;

 

(d)       to
provide for the assumption of the Company’s obligations under this Indenture and under the Notes by a Merger Successor Corporation
as described in ‎Section 10.08 or to modify the conversion rights of the Holders in accordance with ‎Section 10.08 hereof
upon the occurrence of a Merger Event;

 

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(e)       to
surrender any right or power conferred upon the Company under this Indenture;

 

(f)       to
add to the Company’s covenants or Events of Default for the benefit of the Holders;

 

(g)       to
cure any ambiguity or correct any inconsistency or defect in this Indenture or in the Notes;

 

(h)       to
comply with any requirement of the SEC in connection with any qualification of this Indenture or a supplement hereto under the
TIA;

 

(i)       to
irrevocably elect a Settlement Method or a Specified Dollar Amount;

 

(j)       to
evidence the acceptance of appointment by a successor Trustee with respect to this Indenture;

 

(k)       to
comply with the rules of any applicable Depositary;

 

(l)       to
conform the provisions of this Indenture to the “Description of notes” section of the Preliminary Offering Memorandum,
as supplemented by the Pricing Term Sheet; or

 

(m)       to
make any other change; provided that such change individually, or in the aggregate with all other such changes, does not
have, and will not have, an adverse effect on the interest of the Holders.

 

Section 9.02      With
Consent of Holders. With the written consent of the Holders of at least a majority of the aggregate principal amount of the
Notes then outstanding (including consents obtained in connection with a repurchase of, or tender offer or exchange offer for,
Notes), by Act of such Holders delivered to the Company and the Trustee, the Company, when authorized by a Board Resolution, may
amend or supplement this Indenture or the Notes or waive any past Default or compliance with any provision of this Indenture or
the Notes; provided, however, that, without the consent of each affected Holder, no amendment or supplement to this
Indenture or the Notes, or waiver of any provision of this Indenture or the Notes, may:

 

(a)       reduce
the principal amount of, or change the Maturity Date of, any Note;

 

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

 

(c)       reduce
the Fundamental Change Repurchase Price or the Redemption Price of any Note or change the time at which, or the circumstances
under which, the Notes may, or will be, redeemed or repurchased;

 

(d)       impair
the right of any Holder to institute suit for any payment on any Note, including with respect to any consideration due upon conversion
of a Note;

 

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(e)       make
any Note payable in a currency other than that stated in the Note;

 

(f)       make
any change that impairs or adversely affects the conversion rights of any Holder under ‎Article X hereof or otherwise reduces
the number of shares of Common Stock, amount of cash or any other property receivable by a Holder upon conversion;

 

(g)       change
the ranking of the Notes;

 

(h)       reduce
any voting requirements included in this Indenture;

 

(i)       change
the provisions of ‎Section 4.07 in a manner adverse to the Holders;

 

(j)       make
any change to any amendment, modification or waiver provision of this Indenture that requires the consent of each affected Holder;
or

 

(k)       reduce
the percentage of the aggregate principal amount of then outstanding Notes whose Holders must consent to an amendment of this
Indenture or a waiver of a past Default.

 

It will not
be necessary for the consent of the Holders under this ‎Section 9.02 to approve the particular form of any proposed amendment,
but it will be sufficient if such consent approves the substance of such proposed amendment.

 

Section 9.03      Execution
of Supplemental Indentures. Upon the request of the Company, the Trustee will sign any supplemental indenture authorized pursuant
to this ‎Article IX if the amendment contained therein does not affect the rights, duties, liabilities or immunities
of the Trustee under this Indenture. If the supplemental indenture adversely affects the Trustee’s rights, duties, liabilities
or immunities under this Indenture, then the Trustee may, but need not, sign such supplemental indenture. In executing any such
supplemental indenture, the Trustee will be provided with, and, subject to the provisions of ‎Section 7.01 hereof,
will be fully protected in conclusively relying upon, an Officers’ Certificate and an Opinion of Counsel stating that such
supplemental indenture is authorized and permitted under this Indenture and that all of the applicable conditions precedent in
this Indenture to the Trustee’s execution of such supplemental indenture have been satisfied.

 

Section 9.04     Notices
of Supplemental Indentures. After an amendment or supplement to this Indenture or the Notes pursuant to Sections ‎9.01
or ‎9.02 hereof becomes effective, the Company will promptly deliver notice to the Trustee, which notice will briefly
describe the substance of such amendment or supplement to this Indenture in reasonable detail and state the effective date of
such amendment or supplement. The Company, or the Trustee, at the direction of the Company, will then promptly deliver a copy
of such notice to each Holder. The failure to deliver such notice to each Holder and the Trustee, or any defect in such notice,
will not impair or affect the validity of such amendment or supplement to this Indenture.

 

Section 9.05      Effect
of Supplemental Indentures. Upon the execution of any supplemental indenture under this ‎Article IX:

 

(a)       this
Indenture will be modified in accordance therewith;

 

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(b)       such
supplemental indenture will form a part of this Indenture for all purposes; and

 

(c)       every
Holder of Notes theretofore, or thereafter, authenticated and delivered hereunder will be bound thereby.

 

Section 9.06      Revocation
and Effect of Consents, Waivers and Actions.

 

(a)       Revocation.
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 Note or portion of a Note that evidences the same debt as the consenting Holder’s Note,
even if notation of the consent is not made on any Note. However, any such Holder, or subsequent Holder, may revoke the consent
as to its Note or portion of a Note if the Trustee receives the notice of revocation before the date the amendment, supplement
or waiver becomes effective.

 

(b)       Binding
Effect. After an amendment, supplement or waiver becomes effective, it will bind every applicable Holder. Any amendment or
supplement will become effective in accordance with the terms of the supplemental indenture relating thereto, which will become
effective upon the execution thereof by the Trustee.

 

Section 9.07      Notation
on, or Exchange of, Notes. If any amendment, supplement or waiver changes the terms of a Note, the Trustee may require the
Holder of such Note to deliver such Note to the Trustee. The Trustee may place an appropriate notation on such Note about the
changed terms and return it to the Holder. Alternatively, if the Company or the Trustee so determines, the Company, in exchange
for the Note, will issue and the Trustee will authenticate a new Note that reflects the changed terms.

 

Article
X

CONVERSIONS

 

Section 10.01    Right
To Convert.

 

(a)       In
General. Subject to, and upon compliance with, the provisions of this ‎Article X, a Holder may, at its option, convert
all of its Notes, or any portion of its Notes having a principal amount equal to $1,000 or an integral multiple of $1,000 in excess
thereof, (i) subject to satisfaction of the conditions and during the periods set forth in ‎Section 10.01(b), at any
time prior to the Close of Business on the Business Day immediately preceding April 15, 2022 and (ii) irrespective of the
conditions set forth in ‎Section 10.01(b), on or after April 15, 2022, and prior to the Close of Business on the Business
Day immediately preceding the Maturity Date, in each case, into Conversion Consideration, as provided in this ‎Article X,
based on the Conversion Rate. Notes may not be converted after the Close of Business on the Business Day immediately preceding
the Maturity Date.

 

(b)       Conditions
to Conversions Prior to the Close of Business on the Business Day Immediately Preceding April 15, 2022. Prior to the Close
of Business on the Business Day

 

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immediately
preceding April 15, 2022, no Notes may be converted except under the circumstances and during the periods set forth below in this
‎Section 10.01(b).

 

(i)       Conversion
Upon Satisfaction of Sale Price Condition. Prior to the Close of Business on the Business Day immediately preceding April
15, 2022, a Holder may present its Notes 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 per share of the Common Stock for
each of at least twenty (20) Trading Days (whether or not consecutive) during the thirty (30) consecutive Trading days
ending on, and including, the last Trading Day of the immediately preceding calendar quarter is greater than one hundred and thirty
percent (130%) of the Conversion Price on such Trading Day.

 

(ii)       Conversion
Upon Satisfaction of Trading Price Condition. Prior to the Close of Business on the Business Day immediately preceding April
15, 2022, a Holder may convert its Notes during the five (5) consecutive Business Day period immediately after any five (5)
consecutive Trading Day period (the five consecutive Trading Day period, the “Measurement Period”), in which the Trading
Price per $1,000 principal amount of the Notes, as determined following a request by a Holder in accordance with the procedures
set forth below, for each Trading Day of the Measurement Period was less than ninety eight percent (98%) of the product of
the Last Reported Sale Price of the Common Stock and the Conversion Rate on such Trading Day. The condition set forth in the preceding
sentence is herein referred to as the “Trading Price Condition.”

 

The Trading
Price shall be determined by the Bid Solicitation Agent pursuant to this ‎Section 10.01(b)(ii) and the definition of Trading
Price set forth herein. The Bid Solicitation Agent (if other than the Company) shall have no obligation to determine the Trading
Price per $1,000 principal amount of the Notes unless the Company has requested such determination in writing, and the Company
will have no obligation to make such request (or seek bids itself) unless a Holder of at least $1.0 million aggregate principal
amount of Notes provides the Company with reasonable evidence that the Trading Price per $1,000 principal amount of the Notes
would be less than ninety eight percent (98%) of the product of the Last Reported Sale Price of the Common Stock and the
Conversion Rate. At such time, the Company shall, or shall instruct the Bid Solicitation Agent to, determine the Trading Price
per $1,000 principal amount of the Notes beginning on the next Trading Day and on each successive Trading Day until the Trading
Price per $1,000 principal amount of the Notes is greater than or equal to ninety eight percent (98%) of the product of the
Last Reported Sale Price of the Common Stock and the Conversion Rate. If the Trading Price Condition has been met, the Company
will so notify the Holders, the Trustee and the Conversion Agent (if other than the Trustee) in writing. If, on any Trading Day
after the Trading Price Condition has been met, the Trading Price per $1,000 principal amount of Notes is greater than or equal
to ninety eight percent (98%) of the product of the Last Reported Sale Price of the Common Stock and the Conversion Rate
for such Trading Day, the Company will so notify the Holders, the Trustee and the Conversion Agent (if other than the Trustee)
in writing.

 

(iii)       Conversion
Upon Specified Corporate Events.

 

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(1)       Certain
Distributions. If, prior to the Close of Business on the Business Day immediately preceding April 15, 2022, the Company elects
to:

 

(A)       issue
to all or substantially all holders of the Common Stock, any rights, options or warrants entitling them, for a period of not more
than sixty (60) calendar days after the record date of such issuance, to subscribe for or purchase shares of the Common Stock
at a price per share less than the average of the Last Reported Sale Prices of the Common Stock for the ten (10) consecutive
Trading Day period ending on, and including, the Trading Day immediately preceding the date of announcement of such issuance;
or

 

(B)       distribute,
to all or substantially all holders of the Common Stock, the Company’s assets, debt 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
ten percent (10%) of the Last Reported Sale Price of the Common Stock on the Trading Day immediately preceding the date of
announcement for such distribution,

 

then, in either case, (x) the
Company must notify Holders at least sixty-five (65) Scheduled Trading Days prior to the Ex-Dividend Date for such issuance
or distribution; and (y) once the Company has given such notice, Holders may convert their Notes at any time until the earlier
of 5:00 p.m., New York City time, on the Business Day immediately preceding such Ex-Dividend Date and the Company’s announcement,
if any, that such issuance or distribution will not take place.

 

(2)       Certain
Corporate Events. If, prior to the Close of Business on the Business Day immediately preceding April 15, 2022, either (i) a
transaction or event that constitutes a Fundamental Change occurs; (ii) a transaction or event that constitutes a Make-Whole
Fundamental Change, pursuant to clause (i) of such definition occurs; or (iii) the Company is a party to a consolidation,
merger, binding share exchange, or a transfer or lease of all or substantially all of the Company’s assets, or any other
transaction, in each case pursuant to which the Common Stock would be converted into or exchanged for, or would constitute solely
the right to receive, cash, securities or other property, then the Notes may be converted at any time from and after the effective
date of the transaction or event until the earlier of (x) thirty five (35) Trading Days after the actual effective date
of such transaction or event (or, if later, the date on which the Company provides notice of such transaction or event) or, if
such transaction or event also constitutes a Fundamental Change, the related Fundamental Change Repurchase Date; and (y) the
Close of Business on the Scheduled Trading Day immediately preceding the Maturity Date. No later than the Business Day after the
date the Company publicly announces such transaction or event, the Company shall notify the Holders, the Trustee and the Conversion
Agent (if other than the Trustee) in writing of such transaction, its effective date and the related right to convert Notes.

 

(iv)       Conversion
Based on Redemption. If the Company calls a Note for Redemption prior to the Close of Business on the Business Day immediately
preceding April 15, 2022, then the Holder of such Note may surrender the Note for conversion at

 

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any
time before the Close of Business on the Business Day immediately preceding the Redemption Date.

 

(c)       Closed
Periods. Notwithstanding anything to the contrary in this Indenture, (i) if the Company calls the Notes for redemption
in accordance with ‎Article XI hereof, a Holder may not convert its Notes after the Close of Business on the Business Day
immediately preceding the applicable Redemption Date except to the extent the Company fails to pay the Redemption Price for such
Notes in accordance with ‎Section 11.05 hereof, and (ii) if a Holder delivers a Fundamental Change Repurchase Notice
with respect to its Notes in accordance with ‎Article III hereof, such Notes may not be converted except to the extent (A) such
Notes are not subject to such Fundamental Change Repurchase Notice; (B) such Fundamental Change Repurchase Notice is withdrawn
in accordance with ‎Article III hereof; or (C) the Company fails to pay the Fundamental Change Repurchase Price for such
Notes in accordance with ‎Section 3.08 hereof.

 

Section 10.02    Conversion
Procedures.

 

(a)       General.
To exercise its conversion right with respect to a beneficial interest in a Global Note, the owner of such beneficial interest
must (i) comply with the Applicable Procedures for converting such beneficial interest; (ii) pay any funds equal to
interest payable on the next Interest Payment Date that such Holder is required to pay under clause (d) of this ‎Section
10.02; and (iii) pay any taxes or duties that such Holder is required to pay under the proviso to clause (e) of this
‎Section 10.02.

 

To exercise
its conversion right with respect to a Definitive Note, the Holder of such Note must (i) complete and manually sign the conversion
notice on the back of the Note, or a facsimile of such conversion notice (such notice, or such facsimile, the “Conversion
Notice”); (ii) deliver such signed and completed Conversion Notice, which shall be irrevocable, and such Note to the
Conversion Agent at its office; (iii) furnish any endorsements and transfer documents that the Company, Conversion Agent,
Trustee or Transfer Agent may require; (iv) pay any funds equal to interest payable on the next Interest Payment Date that
such Holder is required to pay under clause (d) of this ‎Section 10.02; and (v) pay any taxes or duties that such
Holder is required to pay under the proviso to clause (e) of this ‎Section 10.02.

 

The first
date on which a Holder satisfies the foregoing requirements with respect to a Note and on which conversion of such Note is not
otherwise prohibited under this Indenture will be the “Conversion Date” for such Note.

 

The conversion
of any Note will be deemed to occur at the Close of Business on the Conversion Date for such Note, and any converted Note or portion
thereof will cease to be outstanding upon conversion.

 

(b)       Holder
of Record. If a Holder surrenders the entire principal amount of a Note for conversion, such Person will no longer be the
Holder of such Note as of the Close of Business on the Conversion Date for such Note.

 

The Person
in whose name any shares of Common Stock shall be issuable upon conversion of any Note will become the holder of record of such
shares as of the Close of

 

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Business on
the Conversion Date for such conversion, 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.

 

(c)       Conversions
in Part. If a Holder surrenders only a portion of the principal amount of a Definitive Note for conversion, promptly after
the Conversion Date for such portion, the Company will, in accordance with ‎Section 2.05 hereof, execute and deliver to the
Trustee, and the Trustee will, upon receipt of a Company Order and the documents required by Sections 12.02 and 12.03 hereof,
in accordance with ‎Section 2.05 hereof, authenticate and deliver to such Holder a new Definitive Note in an authorized denomination,
having a principal amount equal to the aggregate principal amount of the unconverted portion of the Definitive Note surrendered
for conversion and bearing registration numbers not contemporaneously outstanding and any restrictive legends that such Definitive
Note must bear under Sections 2.02 and 2.10 hereof.

 

Upon the
conversion of any beneficial interest in a Global Note, the Conversion Agent will promptly request that the Trustee make a notation
on the “Schedule of Increases and Decreases of Global Note” of such Global Note to reduce the principal amount represented
by such Global Note by the principal amount of the converted beneficial interest. If all of the beneficial interests in a Global
Note are so converted, such Global Note will be deemed surrendered to the Trustee for cancellation, and the Trustee will cause
such Global Note to be cancelled in accordance with the Applicable Procedures.

 

(d)       Reimbursement
of Interest upon Conversion. If a Holder converts a Note after the Close of Business on a Regular Record Date, but prior to
the Open of Business on the Interest Payment Date corresponding to such Regular Record Date, then (x) the Holder of such
Note at the Close of Business on such Regular Record Date shall be entitled, notwithstanding such conversion, to receive, on such
Interest Payment Date, the unpaid interest that has accrued on such Note to, but excluding, such Interest Payment Date; and (y) the
Holder of such Note must, upon surrender of such Note for conversion, accompany such Note with an amount of cash equal to the
amount of interest that will be payable on such Note on such Interest Payment Date; provided, however, that a Holder
need not make such payment (A) for conversions following the Regular Record Date immediately preceding the Maturity Date;
(B) if the Company has specified a Fundamental Change Repurchase Date that is after a Regular Record Date and on or prior
to the Business Day immediately following the corresponding Interest Payment Date and the Holder converts its Note after the Close
of Business on such Regular Record Date and on or prior to the Open of Business on such Interest Payment Date; (C) if the
Company has specified a Redemption Date that is after a Regular Record Date and on or prior to the Business Day immediately following
the Interest Payment Date corresponding to such Regular Record Date and such Holder surrenders such Note for conversion after
such Regular Record Date and prior to the Open of Business on such Interest Payment Date; or (D) to the extent of any overdue
interest, if any overdue interest exists at the time of conversion with respect to such Note.

 

(e)       Taxes
and Duties. If a Holder converts a Note, the Company will pay any documentary, stamp or similar issue or transfer tax due
on the issue of any shares of the Common Stock upon the conversion; provided, however, that if any tax is due because
the converting Holder requested that shares of Common Stock be issued in a name other than its own, such Holder will pay such
tax and the Conversion Agent, until having received a sum

 

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sufficient
to pay such tax, may refuse to deliver any certificates representing the shares of Common Stock being issued in a name other than
that of such Holder.

 

(f)       Notices.
Whenever a Conversion Date occurs with respect to a Note, the Conversion Agent will, as promptly as possible, and in no event
later than the Business Day immediately following such Conversion Date, deliver to the Company and the Trustee notice that a Conversion
Date has occurred, which notice will state such Conversion Date, the principal amount of Notes converted on such Conversion Date
and the names of the Holders that converted Notes on such Conversion Date.

 

Section 10.03   Settlement
Upon Conversion.

 

(a)       Conversion
Obligation.

 

(i)       Settlement
Method. Upon the conversion of any Note, the Company shall settle such conversion by paying or delivering, as applicable and
as provided in this ‎Article X, either (A) solely cash (a “Cash Settlement”); (B) shares of Common Stock,
together, if applicable, with cash in lieu of fractional shares as provided in ‎Section 10.03(a)(ii)(1) (a “Physical
Settlement”); or (C) a combination of cash and shares of Common Stock, together, if applicable, with cash in lieu of
fractional shares as provided in ‎Section 10.03(a)(ii)(3) (a “Combination Settlement”). The Company shall have
the right to elect the Settlement Method applicable to any conversion of a Note; provided, however, that:

 

(1)       (x)
all conversions of Notes whose Conversion Date occurs on or after April 15, 2022 will be settled using the same Settlement Method,
and the Company shall send written notice of such Settlement Method to Holders, through the Trustee, no later than the Close of
Business on the Business Day immediately preceding April 15, 2022 and (y) all conversions for which the Conversion Date occurs
during the Redemption Conversion Period will be settled using a single Settlement Method and the Company shall sent written notice
of such Settlement Method to Holders, through the Trustee concurrently with delivery of the Redemption Notice;

 

(2)       the
Company shall use the same Settlement Method for all conversions of Notes whose Conversion Dates occur on the same day (and, for
the avoidance of doubt, the Company shall not be obligated to use the same Settlement Method with respect to conversions of Notes
whose Conversion Dates occur on different days, except as provided in clause (a)(i)(1) above);

 

(3)       if
the Company elects a Settlement Method with respect to the conversion of any Note whose Conversion Date occurs before April 15,
2022 and not during a Redemption Conversion Period, the Company shall send written notice of such Settlement Method to the Holder
of such Note, through the Trustee, no later no later than the Close of Business on the second Scheduled Trading Day immediately
following such Conversion Date;

 

(4)       if
the Company does not timely elect a Settlement Method with respect to the conversion of a Note, then the Company will be deemed
to have

 

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elected
Combination Settlement with a Specified Dollar Amount per $1,000 principal amount of such Note equal to $1,000;

 

(5)       if
the Company timely elects Combination Settlement with respect to the conversion of a Note but does not timely notify the Holder
of such Note of the Specified Dollar Amount, then the Specified Dollar Amount for such conversion will be deemed to be $1,000
per $1,000 principal amount of such Note; and

 

(6)       the
Settlement Method shall be subject to clause (II) of the first sentence of ‎Section 10.08(a).

 

(ii)       Conversion
Consideration. The type and amount of consideration (the “Conversion Consideration”) due in respect of each $1,000
principal amount of a Note to be converted shall be as follows:

 

(1)       if
Physical Settlement applies to such conversion, (I) a whole number of shares of Common Stock equal to the Conversion Rate
in effect on the Conversion Date for such conversion (which, if not a whole number, shall be rounded down to the nearest whole
number); and (II) if such Conversion Rate is not a whole number, cash in lieu of the related fractional share in an amount equal
to the product of (x) the Daily VWAP on such Conversion Date (or if such Conversion Date is not a Trading Day, the immediately
preceding Trading Day) and (y) the fractional portion of such Conversion Rate;

 

(2)       if
Cash Settlement applies to such conversion, cash in an amount equal to the sum of the Daily Conversion Values for each of the
sixty (60) consecutive Trading Days in the Observation Period for such conversion; or

 

(3)       if
Combination Settlement applies to such conversion, a settlement amount equal to (I) the sum of the Daily Settlement Amounts
for each of the sixty (60) consecutive Trading Days in the Observation Period for such conversion (which, for the avoidance
of doubt, shall consist of a number of whole shares of Common Stock equal to the sum of the Daily Share Amounts for each of the
Trading Days in such Observation Period (which, if such sum is not a whole number, shall be rounded down to the nearest whole
number) and cash in an amount equal to the sum of the Daily Cash Amounts for each of the Trading Days in such Observation Period);
and (II) if the sum of the Daily Share Amounts for each of the Trading Days in such Observation Period is not a whole number,
cash in lieu of the related fractional share in an amount equal to the product of (x) the Daily VWAP on the last Trading
Day of such Observation Period and (y) the fractional portion of such sum.

 

With respect
to any conversion of Notes to which Cash Settlement or Combination Settlement applies, the Company shall determine the Conversion
Consideration due thereupon promptly following the last day of the applicable Observation Period and shall promptly thereafter
notify the Trustee and the Conversion Agent (if other than the Trustee) in writing of the same and the calculation thereof in
reasonable detail. Neither the Trustee nor the Conversion Agent (if other than the Trustee) shall have any responsibility for
any such determination.

 

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(iii)       Delivery
of Conversion Consideration. Except as set forth in Sections ‎10.05, ‎10.07 and ‎10.08 hereof, the Company shall
pay or deliver, as the case may be, the Conversion Consideration due upon the conversion of any Note to the Holder thereof as
follows: (i) if Cash Settlement or Combination Settlement applies to such conversion, on the third (3rd) Business Day immediately
following the last Trading Day of the Observation Period for such conversion; and (ii) if Physical Settlement applies to
such conversion, on the third (3rd) Business Day immediately following the Conversion Date for such conversion.

 

(b)       Conversion
of Multiple Notes by a Single Holder. If a Holder converts more than one Note on a single Conversion Date, the Conversion
Consideration due in respect of such conversion will be computed based on the total principal amount of Notes converted on such
Conversion Date by such Holder.

 

(c)       Settlement
of Accrued Interest and Deemed Payment of Principal. If a Holder converts a Note, the Company will not adjust the Conversion
Rate to account for any accrued and unpaid interest on the Note, and the Company’s delivery of the Conversion Consideration
due upon such conversion will be deemed to satisfy and discharge in full the Company’s obligation to pay the principal of
such Note and accrued and unpaid interest, if any, on, such Note to, but excluding the Conversion Date; provided, however,
that if a Holder converts a Note after a Regular Record Date and prior to the Open of Business on the corresponding Interest Payment
Date, the Company will still be obligated to pay the interest due on such Interest Payment Date to the Holder of such Note as
of the Close of Business on such Regular Record Date. As a result, except as otherwise provided in the proviso to the immediately
preceding sentence, any accrued and unpaid interest with respect to a converted Note will be deemed to be paid in full rather
than cancelled, extinguished or forfeited. In addition, if both cash and shares of the Common Stock are delivered upon the conversion
of a Note, accrued and unpaid interest will be deemed to be paid first out of the amount of cash so delivered.

 

Section 10.04     Common
Stock Issued Upon Conversion.

 

(a)       The
Company will reserve on or prior to the Issue Date out of its authorized but unissued shares of Common Stock, for delivery upon
conversion of Notes under this Indenture, the maximum number of shares of Common Stock issuable upon conversion of all then outstanding
Notes assuming all such conversions were settled by delivering solely shares of Common Stock (other than cash in lieu of any fractional
shares of Common Stock).

 

(b)       Any
shares of Common Stock delivered upon the conversion of the Notes will be newly issued shares or treasury shares, duly and validly
issued, fully paid, nonassessable, free from preemptive rights and free of any lien or adverse claim (except to the extent of
any lien or adverse claim created by the action or inaction of the Holder or other Person to whom such shares of Common Stock
will be delivered). In addition, the Company will endeavor to comply promptly with all federal and state securities laws regulating
the offer and delivery of any shares of Common Stock issuable upon conversion of the Notes; provided that the Company will
not be obligated to register the offer and sale of such Common Stock under the Securities Act or any other applicable securities
laws. The Company will also use commercially reasonable efforts to cause any shares of Common Stock issuable upon conversion of
a Note to be listed on whatever

 

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stock exchange(s)
the Common Stock is listed on the date the converting Holder becomes a record holder of such Common Stock.

 

(c)       If
any shares of the Common Stock issued upon conversion will, upon delivery as part of the conversion obligation, be “restricted
securities” (within the meaning of Rule 144 or any successor provision in effect at such time), such shares of Common Stock
will bear any restrictive legends the Company or the Transfer Agent deem necessary to comply with applicable law.

 

Section 10.05    Adjustment
of Conversion Rate. The Company will adjust the Conversion Rate from time to time as described in this ‎Section
10.05, except that the Company will not make an adjustment to the Conversion Rate if each Holder participates (other than in a
share split or share combination), at the same time and upon the same terms as holders of the Common Stock, and solely as a result
of holding the Notes, in the relevant transaction described in this ‎Section 10.05 without having to convert its Notes
and as if it held number of shares of the Common Stock equal to the product of (i) the Conversion Rate in effect on the applicable
record date, Effective Date or expiration date, and (ii) the aggregate principal amount of Notes held by such Holder (express
in thousands) on such date, rounded up to the nearest whole number.

 

(a)       Stock
Dividends and Share Splits. If the Company exclusively issues to all or substantially all holders of the Common Stock shares
of Common Stock as a dividend or distribution on shares of the outstanding Common Stock, or if the Company effects a share split
of the Common Stock or a share combination of the Common Stock, the Conversion Rate will be adjusted based on the following formula:

 

	CR1 =CR0	x	  OS1
	  OS0

 

where

 

CR0
 =     the Conversion Rate in effect immediately prior to the Open of Business on the Ex-Dividend Date of such dividend
or distribution, or immediately prior to the Open of Business on the Effective Date of such share split or share combination,
as applicable;

 

CR1=       the
Conversion Rate in effect immediately after the Open of Business on such Ex-Dividend Date or the Open of Business on such 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
(before giving effect to any such dividend, distribution, split or combination); and

 

OS1=        the
number of shares of Common Stock outstanding immediately after giving effect to such dividend, distribution, share split or share
combination.

 

If any dividend or distribution
of the type described in this ‎Section 10.05(a) is declared, but not so paid or made, the Conversion Rate will 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.

 

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(b)       Rights,
Options and Warrants. If the Company issues, to all or substantially all holders of its outstanding Common Stock, rights,
options or warrants entitling such holders, for a period of not more than 60 calendar days after the record date of such issuance,
to subscribe for, or purchase, shares of Common Stock, at a price per share less than the average of the Last Reported Sale Prices
of the Common Stock for the 10 consecutive Trading Day period ending on, and including, the Trading Day immediately preceding
the date of announcement of such issuance, the Conversion Rate will be increased based on the following formula:

 

	CR1 =CR0	x	  OS0+X	 
	  OS0+Y

where

 

CR0=       the
Conversion Rate in effect immediately prior to the Open of Business on the Ex-Dividend Date for such issuance;

 

CR1=       the
Conversion Rate in effect immediately after the Open of Business on such Ex-Dividend Date;

 

OS0=       the
number of shares of Common Stock outstanding immediately prior to the Open of Business on such Ex-Dividend Date;

 

		X =	the total number of shares of Common
                                         Stock issuable pursuant to such rights, options or warrants; and

 

Y =           the
number of shares of Common Stock equal to (i) the aggregate price payable to exercise such rights, options or warrants, divided
by (ii) the average of the Last Reported Sale Prices of the Common Stock over the 10 consecutive Trading Day period ending
on, and including, the Trading Day immediately preceding the date of announcement of the issuance of such rights, options or warrants.

 

To the extent
that shares of Common Stock are not delivered after the expiration of such rights, options or warrants, including because the
issued rights, options or warrants were not exercised, the Conversion Rate will be readjusted to the Conversion Rate that would
then be in effect had the increase with respect to the issuance of such rights, options or warrants been made on the basis of
delivery of only the number of shares of Common Stock actually delivered. If such rights, options or warrants are not so issued,
the Conversion Rate will be readjusted to the Conversion Rate that would then be in effect if the Ex-Dividend Date for such issuance
had not occurred.

 

For purposes
of this ‎Section 10.05(b), in determining whether any rights, options or warrants entitle holders of the Common Stock to subscribe
for, or purchase, shares of Common Stock at a price per share less than the average of the Last Reported Sale Prices of Common
Stock for the 10 consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the date of announcement
for an issuance, and in determining the

 

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

 

(c)       Spin-Offs
and Other Distributed Property.

 

(i)       If
the Company distributes shares of its Capital Stock, evidences of its indebtedness or other assets or property of the Company,
or rights, options or warrants to acquire Capital Stock of the Company or other securities, to all or substantially all holders
of the Common Stock, excluding:

 

(1)       dividends,
distributions and issuances described in ‎Section 10.05(a) hereof or ‎Section 10.05(b) hereof, as applicable;

 

(2)       dividends
or distributions paid exclusively in cash described in ‎Section 10.05(d) hereof; and

 

(3)       Spin-Offs
for which the provisions set forth in ‎Section 10.05(c)(ii) hereof will apply,

 

then the Conversion Rate will
be increased based on the following formula:

 

	CR1 = CR0	x	SP0	 
	SP0 –FMV

where

 

CR0 =      the
Conversion Rate in effect immediately prior to the Open of Business on the Ex-Dividend Date for such distribution;

 

CR1 =      the
Conversion Rate in effect immediately after the Open of Business on such Ex-Dividend Date;

 

SP0 =       the
average of the Last Reported Sale Prices of the Common Stock over the 10 consecutive Trading Day period ending on, and including,
the Trading Day immediately preceding the Ex-Dividend Date for such distribution; and

 

FMV =     the
fair market value (as determined by the Board of Directors ) of the shares of Capital Stock, evidences of indebtedness, assets,
property, rights, options or warrants distributed with respect to each outstanding share of Common Stock on the Ex-Dividend Date
for such distribution.

 

Notwithstanding the foregoing,
if “FMV” (as defined above) is equal to or greater than the “SP0” (as defined above), in lieu
of the foregoing increase, each Holder will receive, for each $1,000 principal amount of Notes held on the record date for the
distribution, at the same time and upon the same terms as holders of the Common Stock, the amount and kind of shares of Capital
Stock, evidences of indebtedness, assets or property, rights, options or warrants to acquire Capital Stock of the Company or other
securities that such Holder would have received if such Holder had

 

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owned a number of shares of Common
Stock equal to the Conversion Rate in effect on the record date for such distribution.

 

If such distribution
is not so paid or made, or if any rights, options or warrants are not exercised before their expiration date, the Conversion Rate
will be readjusted to be the Conversion Rate that would then be in effect if such distribution had not been declared.

 

(ii)       With
respect to an adjustment pursuant to this ‎Section 10.05(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 an Affiliate,
a Subsidiary or other business unit of the Company, and such Capital Stock or similar equity interest is listed or quoted (or
will be listed or quoted upon the consummation of the transaction) on a U.S. national securities exchange or a reasonably comparable
non-U.S. equivalent (as determined by the Board of Directors) (a “Spin-Off”), the Conversion Rate will be increased
based on the following formula:

 

	CR1 = CR0	x	FMV0 +
    MP0
	MP0	 

where

 

CR0 =        the
Conversion Rate in effect immediately prior to the Open of Business on the Ex-Dividend Date for such Spin-Off;

 

CR1 =        the
Conversion Rate in effect immediately after the Open of Business on such Ex-Dividend Date;

 

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 Common Stock (determined for purposes of the definition of Last Reported Sale Price as if such
Capital Stock or similar equity interest were the Common Stock) over the first 10 consecutive Trading Day period after, and including,
the Ex-Dividend Date of the Spin-Off (the “Valuation Period”); and

 

MP0 =       the
average of the Last Reported Sale Prices of the Common Stock over the Valuation Period.

 

The adjustment
to the Conversion Rate under this ‎Section 10.05(c)(ii) will be calculated as of the Close of Business on the last Trading
Day of the Valuation Period but will be given effect as of immediately after the Open of Business on the Ex-Dividend Date of the
Spin-Off, with retroactive effect. The Company shall delay the settlement of any conversion of Notes where the Conversion Date
(in the case of Physical Settlement) or the last Trading Day of the applicable Observation Period (in the case of Cash Settlement
or Combination Settlement) occurs during the Valuation Period until the third Business Day after the last day of the Valuation
Period. If any distribution of the type described in this ‎Section 10.05(c)(ii) is declared but not so made, the Conversion
Rate shall be immediately readjusted, effective as of the date the Board of Directors determines not to make such distribution,
to the Conversion Rate that would then be in effect if such distribution had not been declared.

 

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For the purposes
of this ‎Section 10.05(c) and subsections (a) and (b) of this ‎Section 10.05, any dividend or distribution to
which this ‎Section 10.05(c) applies and which dividend or distribution also includes one or both of:

 

(1)       a
dividend or distribution of shares of Common Stock to which ‎Section 10.05(a) hereof applies (a “Clause A Distribution”);
or

 

(2)       a
dividend or distribution of rights, options or warrants to which ‎Section 10.05(b) hereof applies (a “Clause B Distribution”)

 

(any such distribution, a “Multi-Clause
Distribution”), then (i) the portion of such Multi-Clause Distribution that is not a Clause A Distribution or a Clause
B Distribution will be deemed to be a dividend or distribution to which this ‎Section 10.05(c) applies (a “Clause C
Distribution”), and any Conversion Rate adjustment required by this ‎Section 10.05(c) with respect to such Clause C
Distribution will be made without considering any shares of Common Stock, if any, issuable as part of the portion of such Multi-Clause
Distribution that is a Clause A Distribution or a Clause B Distribution, as applicable, (ii) the portion of such Multi-Clause
Distribution that is a Clause B Distribution, if any, will be deemed to be distributed immediately following the Clause C Distribution,
and any Conversion Rate adjustment required by ‎Section 10.05(b) hereof with respect to such Clause B Distribution will be
made, with any shares of Common Stock issuable as part of the portion of such Multi-Clause Distribution that is a Clause C Distribution
deemed to be “outstanding immediately prior to the Open of Business on such Ex-Dividend Date” for the purposes of
making such adjustment and (iii) the portion of such Multi-Clause Distribution that is a Clause A Distribution, if any, will
be deemed to be distributed immediately following the Clause B Distribution or Clause C Distribution, as the case may be, and
any Conversion Rate adjustment required by ‎Section 10.05(a) hereof with respect to such Clause A Distribution will be made,
with any shares of Common Stock issuable as part of the portion of such Multi-Clause Distribution that is either a Clause C Distribution
or a Clause B Distribution deemed to be “outstanding immediately prior to the Open of Business on such Ex-Dividend Date
or Effective Date” for the purposes of making such adjustment.

 

(d)       Cash
Dividends or Distributions. If any cash dividend or distribution (other than a distribution described in ‎Section 10.05(e),
and other than a regular, quarterly cash dividend that does not exceed $0.06 per share (the “Dividend Threshold,”
which Dividend Threshold shall be subject to adjustment as set forth below in this ‎Section 10.05(d))) is made to all or substantially
all holders of the Common Stock, the Conversion Rate will be increased based on the following formula:

 

	CR1 = CR0	x	SP0 –
    T	 
	SP0 –C

where

 

CR0 =       the
Conversion Rate in effect immediately prior to the Open of Business on the Ex-Dividend Date for such dividend or distribution;

 

CR1 =       the
Conversion Rate in effect immediately after the Open of Business on the Ex-Dividend Date for such dividend or distribution;

 

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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;

 

		T =	the Dividend Threshold; provided,
                                         however, that if the dividend or distribution is not a regular quarterly cash
                                         dividend, then the Dividend Threshold will be deemed to be zero (0); and

 

C  =         the
amount in cash per share the Company distributes to holders of Common Stock.

 

The Dividend
Threshold shall be adjusted in a manner inversely proportional to adjustments to the Conversion Rate pursuant to this ‎Section
10.05; provided, however, that no adjustment will be made to the Dividend Threshold for any adjustment to the Conversion
Rate pursuant to this ‎Section 10.05(d).

 

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 will receive, for each $1,000 principal amount of Notes held on the record date
for such cash dividend or distribution, at the same time and upon the same terms as holders of the Common Stock, the amount of
cash that such Holder would have received if such Holder had owned a number of shares of Common Stock equal to the Conversion
Rate in effect on such record date. If any such dividend or distribution is declared but not so paid or made, the Conversion Rate
will be readjusted to the Conversion Rate that would then be in effect if such dividend or distribution had not been declared.

 

(e)       Tender
Offers or Exchange Offers. If the Company or any of its Subsidiaries makes a payment in respect of a tender offer or exchange
offer for the Common Stock (other than an odd lot tender offer), to the extent that the cash and value of any other consideration
included in the payment per share of Common Stock exceeds the Last Reported Sale Price of the Common Stock on the Trading Day
next succeeding the last date on which tenders or exchanges may be made pursuant to such tender offer or exchange offer (as it
may be amended), the Conversion Rate will be increased based on the following formula:

 

	CR1 = CR0	x	AC + (SP1
    x OS1)
	OS0 x SP1	 

where

 

CR0 =       the
Conversion Rate in effect immediately prior to the Expiration Time;

 

CR1 =       the
Conversion Rate in effect immediately after the Expiration Time;

 

AC =        the
aggregate value of all cash and any other consideration (as determined by the Board of Directors) paid or payable for shares purchased
in such tender or exchange offer;

 

OS0 =      the
number of shares of Common Stock outstanding immediately prior to the time (the “Expiration Time”) on the date such
tender or exchange offer expires (prior to giving effect to the purchase of all shares accepted for purchase or exchange in such
tender or exchange offer);

 

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OS1 =      the
number of shares of Common Stock outstanding immediately after the Expiration Time (after giving effect to the purchase of all
shares accepted for purchase or exchange in such tender or exchange offer); and

 

SP1 =       the
average of the Last Reported Sale Prices of the Common Stock over the 10 consecutive Trading Day period (the “Averaging
Period”) commencing on the Trading Day next succeeding the date such tender or exchange offer expires.

 

The adjustment
to the Conversion Rate pursuant to this ‎Section 10.05(e) will be calculated as of the Close of Business on the last Trading
Day of the Averaging Period but will be given effect as of immediately after the Expiration Time, with retroactive effect. The
Company shall delay the settlement of any conversion of Notes where the Conversion Date (in the case of Physical Settlement) or
the last Trading Day of the applicable Observation Period (in the case of Cash Settlement or Combination Settlement) occurs during
the Averaging Period until the third (3rd) Business Day after the last day of the Averaging Period.

 

(f)       Successive
Adjustments. After an adjustment to the Conversion Rate under this ‎Article X having been made, any subsequent event requiring
an adjustment under this ‎Article X will cause an adjustment to the Conversion Rate as so adjusted, without duplication.

 

(g)       Adjustments
Not Yet Effective. If a Holder converts a Note and, as of the Conversion Date for such Note, any distribution or transaction
that requires an adjustment to the Conversion Rate pursuant to Sections ‎10.05(a) through ‎(e) hereof has occurred
but has not yet resulted in an adjustment to the Conversion Rate and the shares of Common Stock, if any, that such Holder will
receive upon settlement of its converted Note are not entitled to participate in the relevant distribution or transaction (because
they were not held on a related record date or otherwise), then the Company will adjust the number of shares of Common Stock that
it delivers to such Holder to reflect the relevant distribution or transaction.

 

(h)       Conversion
Rate Adjustments where Converting Holders Participate in the Relevant Dividend, Distribution or other Transaction. Notwithstanding
anything to the contrary herein or in the Notes, if a Conversion Rate adjustment becomes effective on any Ex-Dividend Date pursuant
to this ‎Section 10.05, and a Holder that has converted its Notes on or after such Ex-Dividend Date and on or prior to the
related record date would be treated, on such record date, as the record holder of the shares of Common Stock, if any, issuable
upon such conversion based on an adjusted Conversion Rate for such Ex-Dividend Date, then the Conversion Rate adjustment relating
to such Ex-Dividend Date will not be made for such converting Holder. Instead, such Holder will be treated as if such Holder were,
as of such record date, the record owner of such shares of Common Stock on an unadjusted basis and will participate in the related
dividend, distribution or other event giving rise to such adjustment.

 

(i)       Stockholder
Rights Plans. If the Company has rights plan in effect when a Holder converts a Note, the Company will deliver to such Holder,
in addition to any shares of Common Stock otherwise issuable to such Holder upon conversion of such Note, any rights that, under
the rights plan, would be applicable to a share of Common Stock, unless prior to the Conversion Date for such Note, the rights
have separated from the Common Stock, in which

 

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case, and only
in such case, the Conversion Rate will be adjusted pursuant to ‎Section 10.05(c)(i) as if, at the time of such separation,
the Company had distributed to all holders of the Common Stock shares of its Capital Stock, evidences of its indebtedness, other
assets or property of the Company or rights, options or warrants to acquire its Capital Stock, subject to readjustment in the
event of the expiration, termination or redemption of such rights.

 

(j)       Other
Adjustments. Whenever any provision of this Indenture requires the calculation of the Last Reported Sale Price, a Daily VWAP
or a function thereof over a period of multiple days (including any Observation Period and the Stock Price for purposes of a Make-Whole
Fundamental Change), the Company will make appropriate adjustments to the Last Reported Sale Price, the Daily VWAP or such function
thereof 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 such period.

 

(k)       Restrictions
on Adjustments. Except as a result of a reverse share split or share combination subject to ‎Section 10.05(a), in no event
will the Conversion Rate be adjusted downward pursuant to the formulae set forth in Sections ‎10.05(a), ‎(b), ‎(c),
‎(d) or ‎(e) hereof.

 

In addition,
notwithstanding anything to the contrary elsewhere in this Indenture, the Conversion Rate will not be adjusted:

 

(i)       upon
the issuance of any shares of Common Stock pursuant to any present or future plan providing for the reinvestment of dividends
or interest payable on the Company’s securities and the investment of additional optional amounts in shares of Common Stock
under any plan;

 

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

 

(iii)       upon
the issuance of any shares of Common Stock pursuant to any option, warrant, right or exercisable, exchangeable or convertible
security not described in the preceding clause and outstanding as of the date of the Issue Date;

 

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

 

(v)       for
accrued and unpaid interest.

 

(l)       Deferral
of Adjustments. The Company may defer any adjustment to the Conversion Rate unless such adjustment would increase or decrease
the Conversion Rate by at least 1% of the Conversion Rate in effect at the time the Company would otherwise be required to make
such adjustment; provided, however, that if the Company defers an adjustment pursuant to this ‎Section 10.05(l),
then the Company must carry forward such adjustment and take it into account in any future adjustment. Notwithstanding the foregoing,
(i) on each Conversion Date (in the case of Physical Settlement) or on each Trading Day of any Observation Period (in the
case of Cash Settlement or Combination Settlement), (ii) on the occurrence of any Fundamental

 

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Change or Make-Whole
Fundamental Change and (iii) on every one-year anniversary of the Issue Date, the Company will give effect to all Conversion
Rate adjustments that have otherwise been deferred pursuant to this ‎Section 10.05(l), and such adjustments will no longer
be carried forward and taken into account in any future adjustment.

 

(m)       Miscellaneous.

 

(i)       Certain
Definitions.

 

(1)       For
purposes of this ‎Section 10.05, (1) the number of shares outstanding at any time will include shares issuable in respect
of scrip certificates issued in lieu of fractions of shares of Common Stock, but, (2) 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, will not include shares of
Common Stock held in the treasury of the Company.

 

(2)       For
purposes of this ‎Section 10.05, the term “Effective Date” will mean the first date on which the Common Stock
trades on the applicable exchange or in the applicable market, regular way, reflecting the relevant share split or share combination,
as applicable.

 

(3)       For
purposes of this ‎Article X, the term “Ex-Dividend Date” will mean 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 the Common Stock on such exchange or market
(in the form of due bills or otherwise) as determined by such exchange or market.

 

(ii)       Notices.
Upon the public announcement of any event that will require the Company to make an adjustment to the Conversion Rate pursuant
to this ‎Section 10.05, the Company will deliver to each Holder a written notice, which notice will include (i) a brief
description of such event, (ii) the date on which the Company anticipates that such event will occur, (iii) the date
on which the Company anticipates that the adjustment to the Conversion Rate will become effective, and (iv) if any record
date, expiration date, Ex-Dividend Date or Effective Date is applicable to such event, such record date, expiration date, Ex-Dividend
Date or Effective Date. Neither the failure to give such notice, nor any defect therein, will affect the legality or validity
of such action by the Company.

 

Whenever
the Company adjusts the Conversion Rate pursuant to this ‎Section 10.05, the Company will promptly deliver to each Holder
a written notice, which notice will include (i) a brief description of the event requiring adjustment to the Conversion Rate
pursuant to this ‎Section 10.05, (ii) the effective time of such adjustment, (iii) the Conversion Rate in effect
immediately after such adjustment is made and (iv) a schedule explaining, in reasonable detail, how the Company calculated
such adjustment. On the same day the Company delivers such notice to each Holder, the Company will deliver to the Trustee, the
Paying Agent and the Conversion Agent an Officers’ Certificate that includes all of the information contained in such

 

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notice, which
Officers’ Certificate each of the Trustee, the Paying Agent and the Conversion Agent may treat as conclusive evidence that
the adjustment specified in such Officers’ Certificate is correct and will be in effect as of the effective time specified
in such Officers’ Certificate. The failure to deliver such notice will not affect the legality or validity of any such adjustment.

 

Section
10.06    Voluntary Adjustments.

 

(a)       Best
Interest Increases. The Company may, from time to time, to the extent permitted by law and the rules of the NYSE or any other
securities exchange on which Common Stock is then listed, increase the Conversion Rate by any amount if (i) the Board of
Directors determines that such increase is in the best interest of the Company, (ii) such increase is in effect for a period
of at least 20 Business Days, and (iii) during such period, such increase is irrevocable.

 

(b)       Tax-Related
Increases. The Company may (but is not required to) increase the Conversion Rate if the Board of Directors determines that
such increase is advisable to avoid, or diminish, any income tax imposed on holders of the Common Stock or rights to purchase
the Common Stock as a result of any dividend or distribution of shares (or rights to acquire shares) or similar event treated
as such for U.S. federal income tax purposes.

 

(c)       Notices.
Whenever the Board of Directors determines that the Company will increase the Conversion Rate pursuant to this ‎Section 10.06,
the Company will mail to each Holder notice of such increase at least 15 Business Days before such increase will take effect,
which notice will state the increase to be made and the period during which such increase will be in effect. On the same day the
Company mails such notice to each Holder, the Company will deliver to the Trustee, the Paying Agent and the Conversion Agent an
Officers’ Certificate that includes all of the information contained in such notice, which Officers’ Certificate each
of the Trustee, the Paying Agent and the Conversion Agent may treat as conclusive evidence that the adjustment specified in such
Officers’ Certificate is correct and will be in effect as of the effective time specified in such Officers’ Certificate.
The failure to deliver such notice will not affect the legality or validity of any such adjustment.

 

Section 10.07    Adjustments
Upon a Make-Whole Fundamental Change.

 

(a)       General.
If (i) a Fundamental Change (determined after giving effect to the paragraph immediately following clause (d) of the
definition thereof, but without regard to the exclusion in clause (b)(ii) of the definition thereof) occurs or (ii) the Company
calls the Notes for redemption pursuant to ‎Article XI (either such event, a “Make-Whole Fundamental Change”),
and a Holder converts its Notes in connection with such Make-Whole Fundamental Change, the Company will, in the circumstances
described in this ‎Section 10.07, increase the Conversion Rate for such Notes by the number of additional shares of Common
Stock (the “Additional Shares”) set forth in this ‎Section 10.07. For purposes of this ‎Section 10.07, a conversion
of Notes will be deemed to be “in connection with”:

 

(i)       a
Make-Whole Fundamental Change described in clause (i) of the definition of “Make-Whole Fundamental Change” if
(A) for Conversion Dates prior to

 

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April
15, 2022, the applicable Conversion Date occurs during the period when the Notes are convertible on account of such Make-Whole
Fundamental Change pursuant to ‎Section 10.01(b)(iii)(2) and (B) for Conversion Dates on or after April 15, 2022 if the
applicable Conversion Date occurs during the period from, and including, the effective date of the Make-Whole Fundamental Change
up to, and including, the Business Day immediately prior to the related Fundamental Change Repurchase Date (or, in the case of
a Make-Whole Fundamental Change that would have been a Fundamental Change but for the exclusion in clause (b)(ii) of the definition
thereof, the 35th Trading Day immediately following the effective date of such Make-Whole Fundamental Change); and

 

(ii)       a
Make-Whole Fundamental Change described in clause (ii) of the definition of “Make-Whole Fundamental Change” if
the Conversion Notice for such Notes is received by the Conversion Agent during the period beginning on, and including, the Redemption
Notice Date and ending on the Close of Business on the Business Day immediately preceding the Redemption Date.

 

No later
than two Business Days immediately after the effective date of a Make-Whole Fundamental Change described in clause (i) of
the definition of Make-Whole Fundamental Change contained in this ‎Section 10.07, the Company will notify the Holders of such
effective date and issue a press release announcing such effective date. On the same day the Company notifies the Holders, the
Company will deliver to the Trustee, the Paying Agent and the Conversion Agent an Officers’ Certificate that includes all
of the information contained in such notice, which Officers’ Certificate each of the Trustee, the Paying Agent and the Conversion
Agent may treat as conclusive evidence that the adjustment specified in such Officers’ Certificate is correct and will be
in effect as of the effective time specified in such Officers’ Certificate. The failure to deliver such notice will not
affect the legality or validity of any such adjustment.

 

(b)       Determination
of Additional Shares. The number of Additional Shares, if any, by which the Conversion Rate will be increased if a Holder
converts a Note in connection with a Make-Whole Fundamental Change will be determined by reference to the table below, and will
be based on the Make-Whole Fundamental Change Effective Date and the Stock Price for such Make-Whole Fundamental Change. For any
Make-Whole Fundamental Change, the “Make-Whole Fundamental Change Effective Date” will mean, (i) if such Make-Whole
Fundamental Change is of the type described in clause (i) of the definition of Make-Whole Fundamental Change, the date on
which such Make-Whole Fundamental Change occurs or becomes effective, and (ii) if such Make-Whole Fundamental Change is of
the type described in clause (ii) of the definition of Make-Whole Fundamental Change, the applicable Redemption Notice Date.

 

(c)       Adjustment
of Stock Prices and Additional Shares. The Stock Prices set forth in the first row (i.e., the column headers) of the
table below will be adjusted on each date on which the Conversion Rate must be adjusted pursuant to ‎Section 10.05. The adjusted
Stock Prices will equal the Stock Prices in effect immediately prior to such adjustment, multiplied by a fraction, (i) the
numerator of which is the Conversion Rate in effect immediately prior to the adjustment giving rise to the share price adjustment,
and (ii) the denominator of which is the Conversion Rate in effect immediately after the adjustment. The numbers of Additional
Shares

 

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set forth in
the table below will be adjusted in the same manner, at the same time and for the same events for which the Conversion Rate is
adjusted pursuant to ‎Section 10.05 hereof.

 

(d)       Additional
Shares Table. The following table sets forth hypothetical Make-Whole Fundamental Change Effective Dates, Stock Prices and
the number of Additional Shares by which the Conversion Rate will be increased per $1,000 principal amount of Notes for a Holder
that converts a Note in connection with a Make-Whole Fundamental Change having such Make-Whole Fundamental Change Effective Date
and Stock Price.

 

	 	Stock
Price 

	Effective
Date 
	$6.83	$8.20	$9.00	$10.00	$12.00	$14.00	$16.00	$18.00	$20.00	$25.00	$30.00
	August
    22, 2017	24.4021	20.4394	16.1634	12.0867	7.0923	4.3758	2.7989	1.8330	1.2145	0.4149	0.0798
	August
    15, 2018	24.4021	19.3949	15.3106	11.2538	6.4132	3.8757	2.4501	1.5997	1.0660	0.3907	0.1125
	August
    15, 2019	24.4021	17.9426	13.7833	9.8176	5.2927	3.0678	1.8866	1.2119	0.8001	0.2876	0.0749
	August
    15, 2020	24.4021	15.8237	11.5409	7.7544	3.7827	2.0582	1.2350	0.7958	0.5342	0.1988	0.0462
	August
    15, 2021	24.4021	12.3731	7.9593	4.6099	1.7790	0.8987	0.5685	0.4013	0.2921	0.1197	0.0217
	August
    15, 2022	24.4021	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000

 

(e)       Use
of Additional Shares Table. If the exact Stock Price and/or Make-Whole Fundamental Change Effective Date for a Make-Whole
Fundamental Change are not set forth in the table above, then:

 

(i)       if
the Stock Price is between two Stock Prices in the table or the Make-Whole Fundamental Change Effective Date is between two Make-Whole
Fundamental Change Effective Dates in the table, the number of Additional Shares by which the Conversion Rate will be increased
for a Holder that converts a Note in connection with such Make-Whole Fundamental Change will be determined by a straight-line
interpolation between the numbers of Additional Shares set forth for the higher and lower Stock Prices listed in the table and
the earlier and later Make-Whole Fundamental Change Effective Dates listed in the table, as applicable, based on a 365- or 366-day
year, as applicable;

 

(ii)       if
the Stock Price is greater than $30.00, subject to adjustment in the same manner as the Stock Prices set forth in the column headings
of the table, no Additional Shares will be added to the Conversion Rate; and

 

(iii)       if
the Stock Price is less than $6.83 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 will be added to the Conversion Rate.

 

Notwithstanding
the foregoing, in no event will the Conversion Rate be increased as a result of this ‎Section 10.07 to exceed 146.4128 shares
of Common Stock per $1,000 principal amount of Notes, subject to adjustment in the same manner, at the same time and for the same
events for which the Conversion Rate must be adjusted as set forth in ‎Section 10.05 hereof.

 

(f)       Settlement
Upon Conversion. If a Holder converts a Note in connection with a Make-Whole Fundamental Change, the Company will settle such
conversion by

 

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delivering
Conversion Consideration in accordance with ‎Section 10.03 hereof; provided, however, that notwithstanding anything
to the contrary in ‎Section 10.03 hereof, if a Holder converts a Note in connection with a Make-Whole Fundamental Change described
in clause (b)(ii) of the definition of Fundamental Change in which the holders of the Common Stock receive only cash in consideration
for their shares of Common Stock, for any conversion of Notes on or following the Make-Whole Fundamental Change Effective Date
for such Make-Whole Fundamental Change, the Company will settle such conversion by delivering to such Holder, on the third Business
Day immediately following the Conversion Date for such Note, an amount of cash, for each $1,000 principal amount of such Note
converted, equal to the product of (i) the Conversion Rate on the Conversion Date applicable to such Note (including any
Additional Shares added to such Conversion Rate pursuant to this ‎Section 10.07) and (ii) the Stock Price for such Make-Whole
Fundamental Change.

 

Section 10.08     Effect
of Recapitalization, Reclassification, Consolidation, Merger or Sale.

 

(a)       General.
If any of the following events occur:

 

(i)       any
recapitalization, reclassification or change of the Common Stock (other than changes resulting from a subdivision or combination
or change only in par value or from par value to no par value or no par value to par value);

 

(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 its Subsidiaries substantially as
an entirety; or

 

(iv)       any
statutory share exchange,

 

and, in each case, as a result
of which the Common Stock would be converted into, or exchanged for, or represent solely the right to receive, stock, other securities,
other property or assets (including cash or any combination thereof) (such stock, other securities, other property or assets,
the “Reference Property,” and the amount and kind of Reference Property that a holder of one share of Common Stock
would be entitled to receive on account of such transaction, a “Reference Property Unit”), then, notwithstanding anything
to the contrary herein or in the Notes, (I) at the effective time of such transaction, the Conversion Consideration due upon
conversion of any Notes, and the conditions to any such conversion, will be determined in the same manner as if each reference
to any number of shares of Common Stock in this ‎Article X were instead a reference to the same number of Reference Property
Units; and (II) if such Reference Property Unit consists entirely of cash, then the Company will be deemed to elect Cash Settlement
in respect of all conversions whose Conversion Date occurs on or after the effective date of the Merger Event and shall pay the
cash due upon such conversions no later than the third (3rd) Business Day after the relevant Conversion Date. For these purposes,
the Daily VWAP or Last Reported Sale Price of any Reference Property Unit or portion thereof that does not consist of a class
of securities will be the fair value of such Reference Property Unit or portion thereof, as applicable, determined in good faith
by the Company (or, in the case of cash denominated in U.S. dollars, the face amount thereof). An event requiring a change to
the

 

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Conversion Consideration as provided
in the immediately preceding sentence is herein referred to as a “Merger Event,” and the resulting, surviving or transferee
Person (if other than the Company) of such Merger Event is herein referred to as the “Merger Successor Corporation.”
At or before the effective date of such Merger Event, the Company and such Merger Successor Corporation will execute and deliver
to the Trustee a supplemental indenture pursuant to ‎Section 9.03 hereof, which supplemental indenture will (i) comply
with the TIA as in force on the date such supplemental indenture is executed if this Indenture is then qualified under the TIA
and such supplemental indenture is required by law to so comply; (ii) provide for subsequent conversions of Notes in the
manner set forth in the first sentence of this ‎Section 10.08(a); and (iii) provide for subsequent adjustments to the Conversion
Rate pursuant to ‎Section 10.05 in a manner that would have, as determined by the Board of Directors in good faith, an economic
effect on the Holders as nearly equivalent as practicable to the economic effect the adjustments provided by ‎Section 10.05
hereof would have had on the Holders but for such Merger Event. Following such transaction or event, the Company will continue
to have the right to settle conversions of the Notes by paying cash, delivering Reference Property or paying and delivering, as
the case may be, a combination of cash and Reference Property, at the Company’s election, as provided in ‎Section 10.03
above.

 

If the Reference
Property consists of more than a single type of consideration (determined based in part upon any form of stockholder election),
then the composition of the Reference Property Unit will be deemed to be the weighted average, per share of Common Stock, of the
types and amounts of consideration received by the holders of Common Stock that affirmatively make such an election (or, if no
holders of Common Stock affirmatively make such an election, the types and amounts of consideration actually received by the holders
of Common Stock). The Company shall notify Holders of the weighted average as soon as practicable after such determination is
made.

 

If the Reference
Property Unit for a Merger Event includes shares of stock or other securities or assets of a Person other than the Merger Successor
Corporation for such Merger Event, then such other company will also execute such supplemental indenture and such supplemental
indenture will contain whatever additional provisions the Board of Directors considers to be reasonably necessary to protect the
Holders and to calculate the value of a Reference Property Unit.

 

(b)       In
connection with any adjustment to the Conversion Rate described above, the Company will also adjust the Dividend Threshold based
on the number of shares of Common Stock comprising the Reference Property Units and (if applicable) the value of any non-stock
consideration comprising the Reference Property Units.  If the Reference Property Units are composed solely of non-stock
consideration, the Dividend Threshold will be zero.

 

(c)       Notices.

 

(i)       As
soon as practicable upon learning the anticipated or actual effective date of any Merger Event, the Company will deliver written
notice of such Merger Event to each Holder and the Trustee. Such notice will include:

 

(1)       a
brief description of such Merger Event;

 

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(2)       the
Conversion Rate in effect on the date the Company delivers such notice;

 

(3)       the
anticipated effective date for the Merger Event;

 

(4)       that,
on and after the effective date for the Merger Event, the Notes will be convertible into Reference Property Units and cash in
lieu of fractional Reference Property Units; and

 

(5)       the
composition of the Reference Property Unit for such Merger Event.

 

(ii)       As
promptly as practicable after executing a supplemental indenture in accordance with ‎Section 10.08(a) hereof, the Company
will:

 

(1)       file
with the Trustee an Officers’ Certificate briefly describing the reasons therefor, the composition of the Reference Property
Unit for such Merger Event, any adjustment to be made with respect thereto and that all conditions precedent under this Indenture
to such Merger Event have been complied with; and

 

(2)       cause
to be sent to each Holder a notice of the execution of such supplemental indenture and the composition of the Reference Property
Unit for such Merger Event; provided, that the failure to deliver such notice to any Holder will not affect the validity
or legality of such supplemental indenture.

 

(d)       Successive
Merger Events. If more than one Merger Event occurs, this ‎Section 10.08 will apply successively to each Merger Event.

 

(e)       Compliance
Covenant. The Company will not become a party to any Merger Event unless its terms are consistent with this ‎Section 10.08.

 

Section 10.09    No
Responsibility of Trustee or Conversion Agent. The Trustee and the Conversion Agent will not have any duty or responsibility
to any Holder to determine whether any facts exist that require an adjustment of the Conversion Rate, or with respect to the nature
or extent or calculation of any such adjustment when made, or with respect to the method employed in making the same. Neither
the Trustee nor the Conversion Agent will be responsible for any failure of the Company to deliver the Conversion Consideration
due upon the surrender of any Notes for the purpose of conversion or to comply with any of the duties, responsibilities or covenants
of the Company contained in this ‎Article X. Without limiting the generality of the foregoing, neither the Trustee
nor the Conversion Agent will be under any responsibility to determine the correctness of any provisions contained in any supplemental
indenture entered into pursuant to ‎Section 10.08 hereof, including with respect to the calculation of the amount of
Conversion Consideration receivable by Holders upon the conversion of their Notes after any Merger Event, and each, subject to
the provisions of ‎Article VII, may accept as conclusive evidence of the correctness of any such provisions, and will
be protected in relying upon, the Officers’ Certificate (which the Company will be obligated to file with the Trustee prior
to the execution of any such supplemental indenture) with respect thereto.

 

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Section 10.10    Exchange
in Lieu of Conversion. Notwithstanding anything herein to the contrary, when a Holder surrenders Notes for conversion, the
Company may, at its election, direct the Conversion Agent to surrender, on or prior to the scheduled Trading Day immediately preceding
the first Trading Day of the applicable Observation Period (or, if the Company has elected Physical Settlement, on or prior to
the second Business Day immediately following the relevant Conversion Date), such Notes to a financial institution designated
by the Company for exchange in lieu of conversion (the “Financial Institution”). In order to accept any Notes surrendered
for conversion, the Financial Institution must agree to pay and/or deliver, as the case may be, in exchange for such Notes, all
of the cash, shares of Common Stock or a combination thereof due upon conversion, all in accordance with ‎Section 10.03
above. By the close of business on the Scheduled Trading Day immediately preceding the first trading day of the applicable Observation
Period (or, if the Company has elected Physical Settlement, by the close of business on the second Business Day immediately following
the relevant Conversion Date), the Company will notify the Holder surrendering Notes for conversion that the Company has directed
the Financial Institution to make an exchange in lieu of conversion. If the Financial Institution accepts any such Notes, it will
pay and/or deliver, as the case may be, the cash, shares or Common Stock or a combination thereof due upon conversion to the Conversion
Agent, and the Conversion Agent will pay and/or deliver such cash and/or shares of Common Stock to the Holder on the third Business
Day immediately following the last Trading Day of the applicable Observation Period (or, if the Company has elected Physical Settlement,
on the third Business Day immediately following the relevant Conversion Date). Any Notes exchanged by the Financial Institution
will remain outstanding.  If the Financial Institution agrees to accept any Notes for exchange but does not timely pay and/or
deliver the related cash, shares of Common Stock or a combination thereof, as the case may be, or if the Financial Institution
does not accept the Notes for exchange, the Company shall, as promptly as practical thereafter, convert the Notes and pay and/or
deliver, as the case may be, the cash, shares or Common Stock or a combination thereof due upon conversion on the third Business
Day immediately following the last Trading Day of the applicable Observation Period (or, if the Company has elected Physical Settlement,
on the third Business Day immediately following the relevant Conversion Date) as provided in ‎Section 10.03 above. The Company’s
designation of the Financial Institution to which the Notes may be submitted for exchange does not require the Financial Institution
to accept any Notes (unless the Financial Institution has separately made an agreement with the Company). The Company may, but
will not be obligated to, enter into a separate agreement with any Financial Institution that would compensate it for any such
transaction.

 

Article
XI

REDEMPTION AT THE OPTION OF THE COMPANY

 

Section
11.01    No Sinking Fund. No sinking fund is provided for the Notes.

 

Section
11.02    Right
To Redeem the Notes.

 

(a)       General.
Prior to August 15, 2020, the Company may not redeem the Notes. On or after August 15, 2020, and prior to the Maturity Date, the
Company may redeem (a “Redemption”) all, but not less than all, of the Notes on the Redemption Date for an amount
of cash equal to the Redemption Price for such Redemption Date if the Last Reported Sale Price of

 

     82

     

    

the Common
Stock equals or exceeds 130% of the Conversion Price in effect on each of at least 20 Trading Days, whether or not consecutive,
during the 30 consecutive Trading Day period ending on the Trading Day immediately preceding the date on which the Company delivers
the Redemption Notice for such redemption pursuant to ‎Section 11.03 hereof.

 

(b)       The
“Redemption Price” means, for any Notes to be redeemed on a Redemption Date, a price equal to 100% of the principal
amount of the Notes to be redeemed, plus accrued and unpaid interest, if any, on such Notes to, but excluding, such Redemption
Date; provided, however, that if a Redemption Date occurs after a Regular Record Date, but on or prior to the Interest
Payment Date corresponding to such Regular Record Date, the Redemption Price for any Notes to be redeemed will equal 100% of the
principal amount of such Notes, and any accrued and unpaid interest on such Notes to, but excluding, such Interest Payment Date
will be payable, on such Interest Payment Date, to the Holder of such Notes at the Close of Business on such Regular Record Date.

 

(c)       The
“Redemption Date” means, for any redemption, the date specified as such on the Redemption Notice for such redemption,
which date must be a Business Day and must be not less than 65 Business Days, nor more than 90 Business Days, immediately following
the date on which the Company delivers such Redemption Notice.

 

Section 11.03     Redemption
Notice. At least 65 Business Days but not more than 90 Business Days prior to any Redemption Date, the Company will send to
each Holder (and to any beneficial owner of a Global Note, as required by applicable law) a written notice of redemption (the
“Redemption Notice,” and the date of such sending, the “Redemption Notice Date”) and, substantially contemporaneously
therewith, the Company will issue a press release announcing such redemption or announce such redemption on its website or through
such other public medium as the Company may use at such time.

 

For any redemption,
the Redemption Notice corresponding to such redemption will specify:

 

(a)       briefly,
a description of the Company’s redemption right under this Indenture;

 

(b)       the
Redemption Price for such Redemption Date (for each $1,000 principal amount of Notes);

 

(c)       the
Redemption Date for such redemption;

 

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

 

(e)       that
Notes called for redemption may be converted at any time before the Close of Business on the Business Day immediately preceding
the Redemption Date;

 

(f)       the
Conversion Rate in effect on the Redemption Notice Date for such redemption;

 

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(g)       any
Additional Shares by which the Conversion Rate will be increased pursuant to ‎Section 10.07 hereof for a Holder that converts
a Note “in connection with” the Company’s election to redeem the Notes;

 

(h)       that
Notes must be surrendered to the Paying Agent on or before the Redemption Date to collect the Redemption Price;

 

(i)       that,
unless the Company defaults in paying the Redemption Price on the Redemption Date, interest, if any, on a Note will cease to accrue
on and after the Redemption Date; and

 

(j)       the
CUSIP and ISIN number(s) of the Notes.

 

On any Redemption
Notice Date, the Company will also furnish to the Trustee an Officers’ Certificate, which Officers’ Certificate will
set forth the aggregate principal amount of Notes then outstanding and include a copy of the Redemption Notice delivered by the
Company on such Redemption Notice Date.

 

Section 11.04    Effect
of Redemption Notice. After the Company has delivered a Redemption Notice, each Holder will have the right to receive payment
of the Redemption Price for its Notes on the later of (i) the Redemption Date and (ii)(a) if the Notes are Definitive Notes,
delivery of its Notes to the Paying Agent or (b) if the Notes are Global Notes, compliance with the Applicable Procedures
relating to the redemption and delivery of the beneficial interests to be redeemed to the Paying Agent; provided, however,
that, until the Close of Business on the Business Day immediately preceding such Redemption Date, Holders may convert their Notes,
regardless of whether they have been delivered to the Paying Agent for redemption, by complying with the requirements for conversion
set forth in ‎Article X.

 

Section 11.05    Deposit
of Redemption Price. Prior to 11:00 a.m., New York City time, on the Redemption Date, the Company will deposit with the Paying
Agent (or, if the Company or a Subsidiary or an Affiliate of either of them is acting as the Paying Agent, will segregate and
hold in trust as provided in ‎Section 2.07 hereof) an amount of immediately available funds sufficient to pay the Redemption
Price of all of the then outstanding Notes.

 

Section 11.06   
Effect of Deposit. If, as of 11:00 a.m., New York City time, on any Redemption Date, the Company, in accordance with ‎Section
11.05 hereof, has deposited with the Paying Agent money sufficient to pay the Redemption Price for every Note validly delivered
in accordance with ‎Section 11.04 hereof (and not converted before such Redemption Date), then, at the Close of Business
on such Redemption Date:

 

(a)       every
Note outstanding immediately prior to the Close of Business on such Redemption Date will cease to be outstanding and interest,
if any, on such Notes will cease to accrue (regardless of whether such Notes were delivered to the Paying Agent or book-entry
transfer has been made, as applicable), except to the extent provided in the proviso to ‎Section 11.02(b); and

 

(b)       all
other rights of the Holders of such Notes with respect to such Notes (other than the right to receive payment of the Redemption
Price or, in the case of Notes

 

     84

     

    

surrendered
for conversion in accordance with ‎Article X hereof, the right to receive the Conversion Consideration due upon conversion
of such Notes, and other than as provided in the proviso to ‎Section 11.02(b)) will terminate.

 

Section
11.07    Covenant
Not to Redeem Notes During a Continuing Acceleration With Respect to the Notes 

 

(a)       General.
Notwithstanding anything to the contrary in this ‎Article XI, the Company will not redeem any Notes under this ‎Article
XI if the principal amount of the Notes has been accelerated 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 that would be cured by the Company’s
payment of the Redemption Price for such Notes).

 

(b)       Return
of Notes. If a Holder delivers a Note for redemption pursuant to ‎Section 11.04 and, on the Redemption Date, pursuant
to this ‎Section 11.07, the Company is not permitted to redeem such Note, the Paying Agent will (i) if such Note is a
Definitive Note, return such Note to such Holder, and (ii) if such Note is held in book-entry form, in compliance with the
Applicable Procedures, deem to be cancelled any instructions for book-entry transfer of such Note.

 

Section
11.08   Repayment
to the Company. Subject to any applicable property laws, if, six months after the Redemption Date, any cash held by the Paying
Agent remains unclaimed, the Paying Agent will promptly return such cash to the Company; provided, however, that,
to the extent that the aggregate amount of cash deposited by the Company pursuant to ‎Section 11.05 exceeds the aggregate
Redemption Price of every Note outstanding, then as soon as practicable following the Redemption Date, the Trustee will return
such excess to the Company.

 

Article
XII

MISCELLANEOUS

 

Section
12.01    Notices.
Any request, demand, authorization, notice, waiver, consent or communication will be in writing and delivered in Person or mailed
by first-class mail, postage prepaid, addressed as follows or transmitted by facsimile transmission or other similar means of
unsecured electronic methods to the following:

 

if to the Company:

 

GAIN Capital Holdings,
Inc.

Bedminster One

135 Route 202/206

Bedminster, New Jersey
07921

Facsimile: (866) 861-1673

Attn: General Counsel

 

if to the Trustee, Registrar,
Paying Agent or Conversion Agent:

 

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The Bank of New York
Mellon

101 Barclay Street – Floor 7W

New York, NY 10286

Facsimile: (212) 815-5595

Attn: Corporate Trust Administration – Gain Holdings, Inc.

 

The Company
or the Trustee, by notice given to the other in the manner provided above, may designate additional or different addresses for
subsequent notices or communications.

 

Any notice
or communication given to a Holder will be mailed to the Holder, by first class mail, postage prepaid, at the Holder’s address
as it appears on the registration books of the Registrar and will be deemed given on the date of such mailing; provided,
however, that with respect to any Global Note, such notice or communication will be sent to the Holder thereof pursuant
to the Applicable Procedures.

 

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

 

If the Company
mails or sends a notice or communication to the Holders, it will, at the same time, mail a copy to the Trustee and each of the
Registrar, Paying Agent and Conversion Agent.

 

If the Company
is required under this Indenture to give a notice to the Holders, in lieu of delivering such notice to the Holders, the Company
may deliver such notice to the Trustee and cause the Trustee, at the Company’s expense, to have delivered such notice to
the Holders on or prior to the date on which the Company would otherwise have been required to deliver such notice to the Holders.
In such a case, the Company will also cause the Trustee to mail a copy of the notice to each of the Registrar, Paying Agent and
Conversion Agent at the same time it sends the notice to the Holders.

 

The Trustee
agrees to accept and act upon instructions or directions pursuant to this Indenture sent by unsecured e-mail, pdf, facsimile transmission
or other similar unsecured electronic methods; provided, however, that the Trustee will have received an incumbency certificate
listing persons designated to give such instructions or directions and containing specimen signatures of such designated persons,
which such incumbency certificate will be amended and replaced whenever a person is to be added or deleted from the listing. If
the Company elects to give the Trustee e-mail or facsimile instructions (or instructions by a similar electronic method) and the
Trustee in its discretion elects to act upon such instructions, the Trustee’s understanding of such instructions will be
deemed controlling. The Trustee will 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 if such instructions conflict or are inconsistent with a subsequent
written instruction. The Company agrees to assume all risks arising out of the use of such electronic methods to submit instructions
and directions to the Trustee, including, without limitation, the risk of the Trustee acting on unauthorized instructions and
the risk or interception and misuse by third parties.

 

     86

     

    

Section
12.02    Certificate
and Opinion as to Conditions Precedent. Upon any request or application by the Company to the Trustee to take any action under
this Indenture other than the authentication of the initial Global Note on the Issue Date, the Company will furnish to the Trustee:

 

(a)       an
Officers’ Certificate stating that, in the judgment or opinion of the signers, all conditions precedent, if any, provided
for in this Indenture relating to the proposed action have been complied with; and

 

(b)       an
Opinion of Counsel stating that, in the judgment or opinion of such counsel, all such conditions precedent relating to the proposed
action (to the extent of legal conclusions and subject to reasonable assumptions and exclusions) have been complied with.

 

Section 12.03    Statements
Required in Certificate or Opinion. Each Officers’ Certificate or Opinion of Counsel with respect to compliance with
a covenant or condition (except for such Officers’ Certificate required to be delivered pursuant to ‎Section
4.05 hereof) provided for in this Indenture will include:

 

(a)       a
statement that each Person making such Officers’ Certificate or Opinion of Counsel has read such covenant or condition;

 

(b)       a
brief statement as to the nature and scope of the examination or investigation upon which the statements, judgments or opinions
contained in such Officers’ Certificate or Opinion of Counsel are based;

 

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

 

(d)       a
statement that, in the judgment or opinion of such Person, such covenant or condition has been complied with.

 

Section 12.04    Separability
Clause. In case any provision in this Indenture or in the Notes will be invalid, illegal or unenforceable, the validity, legality
and enforceability of the remaining provisions will not in any way be affected or impaired thereby.

 

Section 12.05    Rules
by Trustee. The Trustee may make reasonable rules for action by, or a meeting of, Holders.

 

Section 12.06    Governing
Law and Waiver of Jury Trial. THE INDENTURE AND EACH NOTE WILL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS
OF THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPALS THEREOF. EACH OF THE COMPANY, THE TRUSTEE and
each Holder of any NOTE by his acceptance thereof 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

 

     87

     

    

RELATING TO THIS INDENTURE, THE
NOTES OR THE TRANSACTION CONTEMPLATED HEREBY.

 

Section 12.07   No
Recourse Against Others. A director, officer, employee or stockholder, as such, of the Company will not have any liability
for any obligations of the Company under the Notes or this Indenture or for any claim based on, in respect of or by reason of
such obligations or their creation. By accepting a Note, each Holder will waive and release all such liability. The waiver and
release will be part of the consideration for the issuance of the Notes.

 

Section 12.08   Calculations.
Except as otherwise provided in this Indenture, the Company will be responsible for making all calculations called for under the
Notes and this Indenture. These calculations include, but are not limited to, determinations of the Last Reported Sale Price of
the Common Stock or any other security, the Daily Settlement Amounts, the Daily Conversion Values, accrued interest payable on
the Notes and the Conversion Rate in effect on any Conversion Date.

 

The Company
will make all calculations in good faith and, absent manifest error, its calculations will be final and binding on all Holders.
The Company will provide a schedule of its calculations to each of the Trustee, the Paying Agent 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. If any Holder requests from the Trustee a copy of such schedule, the Trustee will promptly forward
a copy of such schedule to such Holder. In no event will the Trustee, the Paying Agent 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. Nor will
the Trustee or Conversion Agent be charged with knowledge of or have any duties to monitor any Measurement Period or Observation
Period.

 

All calculations
will be made to the nearest cent or to the nearest 1/10,000th of a share, as the case may be, with 5/100,000ths rounded upward.

 

Section 12.09   Successors.
All agreements of the Company, the Trustee, the Registrar, the Paying Agent and the Conversion Agent in this Indenture and the
Notes will bind their respective successors.

 

Section 12.10   
Multiple Originals. The parties may sign any number of copies of this Indenture. Each signed copy will be an original,
but all of them together represent the same agreement. One signed copy is enough to prove this Indenture. The exchange of copies
of this Indenture and of signature pages by facsimile or PDF transmission will 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 will be deemed to be their original signatures for all purposes.

 

Section 12.11   
Table of Contents; Headings. The table of contents and headings of the articles and sections of this Indenture have been
inserted for convenience of reference only, are not intended to be considered a part hereof, and will not modify or restrict any
of the terms or provisions hereof.

 

     88

     

    

Section 12.12   Force
Majeure. The Trustee, Registrar, Paying Agent and Conversion Agent will not incur any liability for not performing any act
or fulfilling any duty, obligation or responsibility hereunder by reason of any occurrence beyond the control of such Person (including,
but not limited to, any act or provision of any present or future law or regulation or governmental authority, any act of God
or war, civil unrest, local or national disturbance or disaster, any act of terrorism, or the unavailability of the Federal Reserve
Bank wire or facsimile or other wire or communication facility).

 

Section 12.13    Submission
to Jurisdiction. The Company: (a) agrees that any suit, action or proceeding against it arising out of or relating to
this Indenture or the Notes, as the case may be, may be instituted in any U.S. federal court with applicable subject matter jurisdiction
sitting in The City of New York; (b) waives, to the fullest extent permitted by applicable law, any objection which it may
now or hereafter have to the laying of venue of any such suit, action or proceeding, and any claim that any suit, action or proceeding
in such a court has been brought in an inconvenient forum; and (c) submits to the nonexclusive jurisdiction of such courts
in any suit, action or proceeding.

 

Section 12.14    Legal
Holidays. If the Maturity Date or any Interest Payment Date, Fundamental Change Repurchase Date or Redemption Date is not
a Business Day, then any action to be taken on such date need not be taken on such date, but may be taken on the immediately following
Business Day with the same force and effect as if taken on such date, and no interest will accrue for the period from and after
such date.

 

Section 12.15    No
Security Interest Created. Except as provided in ‎Section 7.06 or ‎9.01(b) hereof, nothing in this Indenture
or in the Notes, expressed or implied, will be construed to constitute a security interest under the Uniform Commercial Code or
similar legislation, as now or hereafter enacted and in effect, in any jurisdiction.

 

Section 12.16    Benefits
of Indenture. Nothing in this Indenture or in the Notes, expressed or implied, will give to any Person, other than the parties
hereto, any Paying Agent, Conversion Agent, Registrar, and their successors hereunder, and the Holders any benefit or any legal
or equitable right, remedy or claim under this Indenture.

 

Section 12.17    U.S.A.
Patriot Act. The parties hereto acknowledge that in accordance with Section 326 of the U.S.A. Patriot Act, the Trustee,
like all financial institutions, 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
Pages Follow]

 

     89

     

    

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

 

 

	 	GAIN CAPITAL HOLDINGS, INC.
	 	 
	 	 	 
	 	By:	/s/ Diego A. Rotsztain
	 	 	Name: Diego A. Rotsztain
	 	 	Title: Executive Vice President, General Counsel and Secretary

 

 

 

[Signature Page to Indenture]

 

 

     

     

    

IN WITNESS
WHEREOF, the undersigned, being duly authorized, has executed this Indenture as of the day and year first before written.

 

 

	 	THE
BANK OF NEW YORK MELLON, as Trustee
	 	 
	 	 	 
	 	By:	/s/ Efren Almazan
	 	 	Name: Efren Almazan
	 	 	Title: Vice President

 

 

 

[Signature Page to Indenture]

 

 

     

     

    

EXHIBIT
A

 

FORM
OF NOTE

 

[FORM OF
FACE OF NOTE]

 

NO AFFILIATE
(AS DEFINED IN RULE 144 UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”)) OF GAIN CAPITAL HOLDINGS,
INC. (THE “COMPANY”) OR PERSON THAT HAS BEEN AN AFFILIATE (AS DEFINED IN RULE 144 UNDER THE SECURITIES ACT) OF THE
COMPANY DURING THE THREE IMMEDIATELY PRECEDING MONTHS (IN EACH CASE, OTHER THAN A SUBSIDIARY OF THE COMPANY), MAY PURCHASE, OTHERWISE
ACQUIRE OR OWN THIS NOTE OR A BENEFICIAL INTEREST HEREIN.

 

[Include
the following legend for Global Notes only (the “Global Notes Legend”):]

 

THIS IS A GLOBAL
NOTE WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF THE DEPOSITARY OR A NOMINEE
OF THE DEPOSITARY, WHICH MAY BE TREATED BY THE COMPANY, THE TRUSTEE AND ANY AGENT THEREOF AS OWNER AND HOLDER OF THIS NOTE FOR
ALL PURPOSES.

 

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.

 

TRANSFERS OF
THIS GLOBAL NOTE WILL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF THE DEPOSITORY TRUST COMPANY, OR TO A
SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE, AND TRANSFERS OF PORTIONS OF THIS GLOBAL NOTE WILL BE LIMITED TO TRANSFERS
MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN ‎Article II OF THE INDENTURE
REFERRED TO ON THE REVERSE HEREOF.

 

[Include
the following legend on all Notes that are Restricted Notes (the “Restricted Notes Legend”):]

 

THIS SECURITY AND ANY COMMON
STOCK ISSUABLE UPON CONVERSION OF THIS SECURITY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT

 

    A-1 

     

    

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
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
                                         THEREOF, OR

 

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

 

		(C)	TO A PERSON IT REASONABLY BELIEVES
                                         IS A QUALIFIED INSTITUTIONAL BUYER THAT IS PURCHASING FOR ITS OWN ACCOUNT OR FOR THE
                                         ACCOUNT OF ANOTHER QUALIFIED INSTITUTIONAL BUYER AND TO WHOM NOTICE IS GIVEN THAT THE
                                         TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, ALL 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 (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.

 

    A-2 

     

    

No.:       [
  ]

 

CUSIP: [   ]*

 

ISIN:    [   ]*

 

Principal
Amount $[ ]

[as revised by the Schedule of Increases

and Decreases of Global Note attached hereto]1

 

GAIN
Capital Holdings, Inc.

5.00% Convertible Senior Notes due 2022

 

GAIN Capital
Holdings, Inc., a Delaware corporation, promises to pay to [ ],2 or registered assigns, the principal amount of $[
] [(as revised by the Schedule of Increases and Decreases of Global Note attached hereto)]3 on August 15, 2022.

 

Interest
Payment Dates: February 15 and August 15 of each year, beginning February 15, 2018.

 

Regular Record
Dates: February 1 and August 1 of each year, beginning February 1, 2018.

 

Additional
provisions of this Note are set forth on the other side of this Note.

 

*       Upon
the removal of the Restricted Notes Legend in accordance with the within-mentioned Indenture, these CUSIP and ISIN numbers will
be deemed removed and replaced with the CUSIP number [ ] and ISIN number [ ].

 

1       Include
for Global Notes only.

2       Insert
Cede & Co. for Global Notes.

3       Include
for Global Notes only.

 

 

     

     

    

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

 

Date:

 

	 	GAIN
CAPITAL HOLDINGS, INC.
	 	 
	 	 	 
	 	By:	

	 	 	Name:

	 	 	Title: 

 

 

	 	By:	
	 	 	Name:

	 	 	Title:

 

 

 

[Signature Page to Global Note]

 

 

     

     

    

TRUSTEE’S
CERTIFICATE OF AUTHENTICATION

 

THE BANK
OF NEW YORK MELLON, as Trustee, certifies that this is one of the Notes referred to in the within-mentioned Indenture.

 

 

	 	By:	/s/ Efren Almazan
	 	 	Authorized Signatory
	 	 	 
	 	 	Dated:

 

 

Certificate
of Authentication – GAIN Capital Holdings, Inc. 5.00% Convertible Senior Note

 

 

     

     

    

[FORM OF
REVERSE OF NOTE]

 

GAIN CAPITAL
HOLDINGS, INC.

 

5.00% Convertible
Senior Notes due 2022

 

This Note
is one of a duly authorized issue of notes of GAIN Capital Holdings, Inc. (the “Company”), designated as its 5.00%
Convertible Senior Notes due 2022 (the “Notes”), all issued or to be issued under and pursuant to an indenture dated
as of the Issue Date (the “Indenture”), between the Company and The Bank of New York Mellon (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. Capitalized terms used herein
and not defined herein have the meanings ascribed to them in the Indenture, and the terms of the Notes include those stated in
the Indenture and those incorporated into the Indenture. Notwithstanding anything herein to the contrary, to the extent that any
provision of this Note conflicts with the express provisions of the Indenture, the provisions of the Indenture will govern and
control.

 

		1.	Interest.

 

This Note
will bear interest at a rate equal to 5.00% per annum. Interest on this Note will accrue from the most recent date to which
interest has been paid or provided for, or, if no interest has been paid or provided for, the Issue Date. Interest will be payable
semiannually in arrears on February 15 and August 15 of each year, beginning on February 15, 2018. Each payment of cash interest
on this Note will include interest accrued for the period commencing on and including the immediately preceding Interest Payment
Date (or, if none, the Issue Date) through, and including, the day before the applicable Interest Payment Date.

 

Pursuant
to ‎Section 4.04 of the Indenture, in certain circumstances, the Company will pay Additional Interest on this Note.

 

Pursuant
to ‎Section 6.04 of the Indenture, in certain circumstances, the Company will pay an Extension Fee on this Note.

 

Pursuant
to ‎Section 2.04 of the Indenture, in certain circumstances, the Company will pay Default Interest on Defaulted Amounts with
respect to this Note.

 

		2.	Method of Payment.

 

The Company
will promptly make all payments on this Note on the dates and in the manner provided herein and in the Indenture. Payments on
Notes represented by a Global Note (including principal and interest) will be made by wire transfer of immediately available funds
to the accounts specified by Depositary. The Company will pay principal of, and any Fundamental Change Repurchase Price or Redemption
Price for, Definitive Notes at the office or agency designated by the Company for such purpose. Interest on Definitive Notes will
be made by check or by wire transfer, as described in ‎Section 2.04, except that any payment of Interest due on the Maturity
Date will be made at the office or agency designated by the Company for such purpose.

 

     A-1

     

    

All
payments on this Note will be made in money of the United States that at the time of payment is legal tender for payment of public
and private debts.

 

		3.	Paying Agent, Conversion Agent
                                         and Registrar.

 

Initially,
The Bank of New York Mellon will act as the Trustee, Paying Agent, Conversion Agent and Registrar. The Company may appoint and
change any Paying Agent, Conversion Agent or Registrar; provided, that the Company will maintain at least one Paying Agent,
Conversion Agent and Registrar in the continental United States. The Company or any of its Subsidiaries or any of their Affiliates
may act as Paying Agent, Conversion Agent or Registrar.

 

		4.	Repurchase By the Company at the
                                         Option of the Holder upon a Fundamental Change.

 

At the option
of the Holder, and subject to the terms and conditions of the Indenture, upon the occurrence of a Fundamental Change, each Holder
will have the right, at its option, to require the Company to repurchase for cash all of its Notes, or any portion of its Notes
having a principal amount equal to $1,000 or an integral multiple of $1,000 in excess thereof, at a Fundamental Change Repurchase
Price equal to 100% of the principal amount of Notes to be purchased plus accrued and unpaid interest, if any, to but excluding,
the Fundamental Change Repurchase Date, unless the Fundamental Change Repurchase Date occurs after a Regular Record Date and on
or prior to the Interest Payment Date corresponding to such Regular Record Date, in which case the Company will pay the accrued
and unpaid interest on such Notes, on such Interest Payment Date, to the Holder of such Notes as of the Close of Business on such
Regular Record Date, and the Fundamental Change Repurchase Price shall not include such accrued and unpaid interest. To exercise
its purchase right, a Holder must comply with the procedures set forth in ‎Article III of the Indenture.

 

		5.	Redemption at the Option of the
                                         Company.

 

Prior to
August 15, 2020, the Company may not redeem the Notes. Subject to the terms of the Indenture, on or after August 15, 2020, and
prior to the Maturity Date, the Company may redeem all, but not less than all, of the Notes if the Last Reported Sale Price of
the Common Stock equals or exceeds 130% of the Conversion Price in effect on each of at least 20 Trading Days, whether or not
consecutive, during the 30 consecutive Trading Day period ending on the Trading Day immediately prior to the date the Company
delivers the Redemption Notice for such redemption. Any Redemption Date must be at least 65 Business Days, but not more than 90
Business Days, after the date on which the Company delivers the applicable Redemption Notice. The Redemption Price that the Company
will pay for any Notes that it redeems will equal to 100% of the principal amount of Notes to be purchased plus accrued and unpaid
interest, if any, to but excluding, the Redemption Date, unless the Redemption Date occurs after a Regular Record Date and on
or before the Interest Payment Date corresponding to such Regular Record Date, in which case the Redemption Price for any Notes
to be redeemed will equal 100% of the principal amount of such Notes, and accrued and unpaid interest, if any, on such Notes to,
but excluding, such Interest Payment Date will be payable, on such Interest Payment Date, to the Holder of such Notes at the Close
of Business on such Regular Record Date.

 

     A-2

     

    

		6.	Conversion.

 

Subject to,
and upon compliance with, the provisions of ‎Article X of the Indenture, a Holder may, at its option, convert all of its Notes,
or any portion of its Notes having a principal amount equal to $1,000 or an integral multiple of $1,000 in excess thereof, (i) subject
to satisfaction of the conditions and during the periods set forth in ‎Section 10.01(b) of the Indenture, at any time prior
to the Close of Business on the Business Day immediately preceding April 15, 2022 and (ii) irrespective of the conditions
set forth in ‎Section 10.01(b) of the Indenture, on or after April 15, 2022 and prior to the Close of Business on the Business
Day immediately preceding the Maturity Date, in each case, into Conversion Consideration, as provided in ‎Article X of the
Indenture, based on the Conversion Rate. Notes may not be converted after the Close of Business on the Business Day immediately
preceding the Maturity Date.

 

		7.	Denominations; Transfer; Exchange.

 

The Notes
are in fully registered form, without coupons, in minimum denominations of $1,000 of principal amount and in integral multiples
of $1,000 in excess thereof. A Holder may transfer or exchange Notes in accordance with the Indenture. The Registrar may require
a Holder, among other things, to furnish appropriate endorsements and transfer documents and to pay any taxes and fees required
by law. The Registrar need not transfer or exchange any Notes in respect of which a Fundamental Change Repurchase Notice has been
given and not withdrawn (except, in the case of a Note to be repurchased in part, the portion of the Note not to be repurchased),
after the Company has delivered a Redemption Notice (except to the extent that Notes are converted or the Company fails to pay
the Redemption Price in accordance with ‎Article XI of the Indenture) or in respect of which a Conversion Notice has been
given (except, in the case of a Note to be converted in part, the portion of the Note not to be converted).

 

		8.	Amendment, Supplement and Waiver.

 

Subject to
certain exceptions, the Indenture permits the Indenture and the Notes to be amended or supplemented with the written consent of
the Holders of at least a majority in aggregate principal amount of the then outstanding Notes. In certain circumstances, the
Company and the Trustee may also amend or supplement the Indenture or the Notes without the consent of any Holder. Subject to
certain exceptions, the Indenture permits the waiver of certain Events of Default or the noncompliance with certain provisions
of the Indenture and of the Notes with the written consent of the Holders of at least a majority in aggregate principal amount
of the then outstanding Notes.

 

		9.	Defaults and Remedies.

 

Subject to
the immediately following paragraph, if an Event of Default specified in the Indenture occurs and is continuing, the Trustee,
by delivering a written notice to the Company, or the Holders of at least 25% in aggregate principal amount of the Notes then
outstanding, by delivering a written notice to the Company and the Trustee, may declare all the Notes to be due and payable immediately
by delivering notice to the Company. In addition, certain specified

 

     A-3

     

    

Events of Default
will cause the Notes to become immediately due and payable without the Trustee or Holders taking any action.

 

If the Company
so elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with the reporting obligations
under ‎Section 4.03 of the Indenture will for the first 180 days after the occurrence of such Event of Default, beginning
on, and including, the date of which such an Event of Default first occurs, consist exclusively of the right to receive an Extension
Fee on the principal amount of the Notes then outstanding.

 

Holders may
not enforce the Indenture or the Notes except as provided in the Indenture. The Trustee may refuse to enforce the Indenture or
the Notes unless it receives indemnity or security satisfactory to it. Holders of a majority of the principal amount of the then
outstanding Notes may direct the Trustee in its exercise of any trust or power, subject to certain limitations set forth in the
Indenture. Subject to certain exceptions, the Trustee may withhold from Holders notice of any continuing Event of Default or Default
if it determines that withholding notice is in their interest.

 

		10.	Persons Deemed Owners.

 

The Holder
of this Note will be treated as the owner of this Note for all purposes.

 

		11.	Unclaimed Money or Notes.

 

The Trustee
and the Paying Agent will return to the Company upon written request any money or securities held by them for the payment of any
amount with respect to the Notes that remain unclaimed for two years, subject to applicable unclaimed property law. After return
to the Company, Holders entitled to the money or securities must look to the Company for payment as general creditors, unless
an applicable abandoned property law designates another Person.

 

		12.	Trustee Dealings with the Company.

 

The Trustee,
in its individual or any other capacity, may become the owner or pledgee of Notes and may otherwise deal with and collect obligations
owed to it by the Company or its Affiliates and may otherwise deal with the Company or its Affiliates with the same rights it
would have if it were not the Trustee.

 

		13.	Calculations in Respect of Notes.

 

Except as
otherwise provided in the Indenture, the Company will be responsible for making all calculations called for under the Notes and
the Indenture. These calculations include, but are not limited to, determinations of the Last Reported Sale Price of the Common
Stock or any other security, the Daily Settlement Amounts, the Daily Conversion Values, accrued interest payable on the Notes
and the Conversion Rate in effect on any Conversion Date.

 

The Company
will make all these calculations in good faith and, absent manifest error, its calculations will be final and binding on all Holders.

 

     A-4

     

    

 

		14.	No Recourse Against Others.

 

A director,
officer, employee or stockholder, as such, of the Company will not have any liability for any obligations of the Company under
the Notes or the Indenture or for any claim based on, in respect of or by reason of such obligations or their creation. By accepting
a Note, each Holder waives and releases all such liability. The waiver and release are part of the consideration for the issue
of the Notes.

 

		15.	Authentication.

 

This Note
will not be valid until an authorized signatory of the Trustee manually signs the Trustee’s certificate of authentication
on the other side of this Note.

 

		16.	Abbreviations.

 

Customary
abbreviations may be used in the name of a Holder or an assignee, such as TEN COM (=tenants in common), TEN ENT (=tenants by the
entireties), JT TEN (=joint tenants with right of survivorship and not as tenants in common), CUST (=custodian), and U/G/M/A (=Uniform
Gift to Minors Act).

 

		17.	GOVERNING LAW.

 

THE INDENTURE
AND THE NOTES WILL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICTS
OF LAWS PRINCIPALS THEREOF.

 

		18.	CUSIP Numbers.

 

Pursuant
to a recommendation promulgated by the Committee on Uniform Note Identification Procedures, the Company has caused CUSIP numbers
to be printed on the Notes and the Trustee may use CUSIP numbers in any notices as a convenience to Holders. No representation
is made as to the accuracy of such numbers either as printed on the Notes or as contained in any notice, and reliance may be placed
only on the other identification numbers placed thereon.

 

The Company
will furnish to any Holder, upon written request and without charge, a copy of the Indenture which has in it the text of this
Note. Requests may be made to:

 

GAIN
Capital Holdings, Inc.

Bedminster
One

135
Route 202/206

Bedminster,
New Jersey 07921

Facsimile:
(866) 861-1673

Attn:
General Counsel

 

     A-5

     

    

CONVERSION
NOTICE

 

GAIN CAPITAL
HOLDINGS, INC.

5.00% CONVERTIBLE SENIOR NOTES DUE 2022

 

To convert this Note, check the
box   ☐

 

To convert the entire principal
amount of this Note, check the box   ☐

 

To convert only a portion
of the principal amount of this Note, check the box ☐  and here specify the principal amount to be converted, which
principal amount must equal $1,000 or an integral multiple of $1,000 in excess thereof:

 

$                                                   

 

Signature Guaranteed

 

_______________________________________

Participant in a Recognized Signature

Guarantee Medallion Program

 

By:                                           
     

Authorized Signatory

 

 

     A-6

     

    

FUNDAMENTAL
CHANGE REPURCHASE NOTICE

 

The Bank of New York Mellon

101 Barclay Street – Floor
7W

New York, NY 10286

Attn: Corporate Trust Administration
– Gain Holdings, Inc.

 

The undersigned
registered owner of this Note hereby acknowledges receipt of a notice from GAIN Capital Holdings, Inc. (the “Company”)
as to the occurrence of a Fundamental Change with respect to the Company and specifying the Fundamental Change Repurchase Date
and requests and instructs the Company to pay to the Holder hereof in accordance with the applicable provisions of the Indenture
referred to in this Note (1) the entire principal amount of this Note, or the portion thereof (that is equal to $1,000 principal
amount or an integral multiple of $1,000 in excess thereof) below designated, and (2) if such Fundamental Change Repurchase
Date does not occur during the period after a Regular Record Date and on or prior to the corresponding Interest Payment Date,
accrued and unpaid interest, if any, thereon to, but excluding, such Fundamental Change Repurchase Date.

 

Principal amount to be repaid
(if less than all): $            ,000

 

Signature Guaranteed

 

____________________________________

Participant in a Recognized Signature

Guarantee Medallion Program

 

Guarantee Medallion Program

 

By:                                                                               

           Authorized Signatory

 

     A-7

     

    

[Include
for Global Note]

 

SCHEDULE
OF INCREASES AND DECREASES OF GLOBAL NOTE

 

Initial Principal
Amount of Global Note: $[     ]

 

	Date 
	Amount
of Increase in Principal Amount of Global Note 
	Amount
of Decrease in Principal Amount of Global Note 
	Principal
Amount of Global Note After Increase or Decrease 
	Notation
by Registrar or Note Custodian 

	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 

 

     A-8

     

    

EXHIBIT
B

 

FORM
OF TRANSFER CERTIFICATE

 

GAIN CAPITAL
HOLDINGS, INC.

5.00% CONVERTIBLE SENIOR NOTES DUE 2022

 

Transfer
Certificate

 

In connection
with any transfer of any of this Note, the undersigned registered owner of this Note hereby certifies, with respect to $[ ] principal
amount of the above-captioned Notes presented or surrendered on the date hereof (the “Surrendered Note”) for registration
of transfer, or for exchange or conversion where the securities issuable upon such exchange or conversion are to be registered
in a name other than that of the undersigned registered owner (each such transaction being a “Transfer”), that such
Transfer complies with the restrictive legend set forth on the face of the Surrendered Note for the reason checked below:

 

		☐	The Transfer of the Surrendered
                                         Note is being made to the Company or a Subsidiary thereof; or

 

		☐	The Transfer of the Surrendered
                                         Note is being made to a person that the transferor reasonably believes is a qualified
                                         institutional buyer that is purchasing for its own account or for the account of another
                                         qualified institutional buyer and to whom notice is given that the transfer is being
                                         made in reliance on Rule 144A, all in compliance with Rule 144A under the Securities
                                         Act; or

 

		☐	The Transfer of the Surrendered
                                         Note is being made pursuant to an effective registration statement under the Securities
                                         Act; or

 

		☐	The Transfer of the Surrendered
                                         Note is being made 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.

 

Date:                                          
          

 

By:                                          
               

 

(If the registered owner is a
corporation, partnership or fiduciary, the title of the Person signing on behalf of such registered owner must be stated.)

 

Signature Guaranteed

 

_______________________________________

Participant in a Recognized Signature

 

Guarantee Medallion Program

 

By:                                                                               
     

         Authorized Signatory

 

    B-1

     

    

EXHIBIT
C

 

[FORM
OF RESTRICTED STOCK LEGEND]

 

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

 

(1) REPRESENTS THAT IT AND ANY
ACCOUNT FOR WHICH IT IS ACTING 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
GAIN CAPITAL HOLDINGS, INC. (THE “COMPANY”) THAT IT WILL NOT OFFER, SELL, PLEDGE OR OTHERWISE TRANSFER THIS SECURITY
OR ANY BENEFICIAL INTEREST HEREIN PRIOR TO THE RESALE RESTRICTION TERMINATION DATE, EXCEPT:

 

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

 

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

 

		(C)	TO A PERSON IT REASONABLY BELIEVES
                                         IS A QUALIFIED INSTITUTIONAL BUYER THAT IS PURCHASING FOR ITS OWN ACCOUNT OR FOR THE
                                         ACCOUNT OF ANOTHER QUALIFIED INSTITUTIONAL BUYER AND TO WHOM NOTICE IS GIVEN THAT THE
                                         TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, ALL 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 (2)(D) ABOVE, THE COMPANY AND THE TRANSFER AGENT 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.

 

    C-1

     

    

THE “RESALE RESTRICTION
TERMINATION DATE” MEANS THE DATE THAT IS THE LATER OF: (A) THE DATE THAT IS ONE YEAR AFTER THE LAST ORIGINAL ISSUE
DATE OF THE COMPANY’S 5.00% CONVERTIBLE SENIOR NOTES DUE 2022 OR SUCH SHORTER PERIOD OF TIME AS PERMITTED BY RULE 144 UNDER
THE SECURITIES ACT OR ANY SUCCESSOR PROVISION THERETO; AND (B) SUCH LATER DATE, IF ANY, AS MAY BE REQUIRED BY APPLICABLE
LAW.

 

 

 

 

    C-2Exhibit 4.1

 

 

THE BANK OF NEW YORK MELLON

NEW YORK’S FIRST BANK-FOUNDED 1784 BY ALEXANDER HAMILTON

 

 

2 HANSON PLACE, 12TH FLOOR, BROOKLYN,
N.Y. 11217

 

 

 

August 23, 2017

 

Hennion & Walsh, Inc.

2001 Route 46, Waterview Plaza

Parsippany, New Jersey 07054

 

Smart Trust 341

 

Dear Sirs:

The Bank of New York
Mellon is acting as trustee for the series of Smart Trust set forth above (the “Trust”). We enclosed a list
of the Securities to be deposited in the Trust on the date hereof. The prices indicated therein reflect our evaluation of such
Securities as of close of business on August 22, 2017, in accordance with the valuation method set forth in the Standard Terms
and Conditions of Trust and Trust Agreement. We consent to the reference to The Bank of New York Mellon as the party performing
the evaluations of the Trust Securities in the Registration Statement (No. 333-219808) filed with the Securities and Exchange Commission
with respect to the registration of the sale of the Trust Units and to the filing of this consent as an exhibit thereto.

 

 

Very truly yours,

 

/s/ GERARDO CIPRIANO___________

Gerardo Cipriano

Vice President

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