Document:

EX-4.1

 Exhibit 4.1 
 Execution Version 
  
  

 
 TELECOMMUNICATION SYSTEMS, INC.

 7.75% CONVERTIBLE SENIOR NOTES DUE JUNE 30, 2018 

 
  

INDENTURE 

DATED AS OF May 7, 2013 
  

 
 THE BANK OF
NEW YORK MELLON TRUST COMPANY, N.A., 
 AS TRUSTEE 

 
  

 

							
	ARTICLE 1	  
	
	DEFINITIONS AND INCORPORATION BY REFERENCE	  
			
	Section 1.01.	 	 Definitions.
	  	 	1	  
	Section 1.02.	 	 Other Definitions.
	  	 	6	  
	Section 1.03.	 	 Trust Indenture Act Provisions.
	  	 	7	  
	Section 1.04.	 	 Rules of Construction.
	  	 	7	  
	
	ARTICLE 2	  
	
	THE SECURITIES	  
			
	Section 2.01.	 	 Form and Dating.
	  	 	8	  
	Section 2.02.	 	 Execution and Authentication.
	  	 	9	  
	Section 2.03.	 	 Registrar, Paying Agent and Conversion Agent.
	  	 	10	  
	Section 2.04.	 	 Paying Agent to Hold Money in Trust.
	  	 	10	  
	Section 2.05.	 	 Securityholder Lists.
	  	 	11	  
	Section 2.06.	 	 Transfer and Exchange.
	  	 	11	  
	Section 2.07.	 	 Replacement Securities.
	  	 	12	  
	Section 2.08.	 	 Outstanding Securities.
	  	 	13	  
	Section 2.09.	 	 Treasury Securities.
	  	 	13	  
	Section 2.10.	 	 Temporary Securities.
	  	 	14	  
	Section 2.11.	 	 Cancellation.
	  	 	14	  
	Section 2.12.	 	 Legends; Additional Transfer Requirements.
	  	 	14	  
	Section 2.13.	 	 CUSIP Numbers.
	  	 	20	  
	Section 2.14.	 	 Ranking.
	  	 	20	  
	Section 2.15.	 	 Issuance, Transfer and Exchange of Common Stock Issuable Upon Conversion of the Securities.
	  	 	20	  
	Section 2.16.	 	 Additional Securities.
	  	 	20	  
	Section 2.17.	 	 Additional Interest.
	  	 	21	  
	Section 2.18.	 	 Calculations in Respect of Securities.
	  	 	21	  
	
	ARTICLE 3	  
	
	PURCHASES OF SECURITIES UPON FUNDAMENTAL CHANGE	  
			
	Section 3.01.	 	 Purchase of Securities at Option of the Holder Upon Fundamental Change.
	  	 	22	  
	Section 3.02.	 	 Effect of Fundamental Change Purchase Notice.
	  	 	25	  
	Section 3.03.	 	 Deposit of Fundamental Change Purchase Price.
	  	 	26	  
	Section 3.04.	 	 Securities Purchased in Part.
	  	 	27	  
	Section 3.05.	 	 Compliance with Securities Laws Upon Purchase of Securities.
	  	 	27	  
	Section 3.06.	 	 No Fundamental Change Repurchase Following Acceleration.
	  	 	27	  
	Section 3.07.	 	 Trustee’s Fundamental Change Purchase Disclaimer.
	  	 	27	  

  
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	ARTICLE 4	  
	
	PAYMENT OF INTEREST	  
			
	Section 4.01.	 	 Interest Payments.
	  	 	27	  
	
	ARTICLE 5	  
	
	CONVERSION	  
			
	Section 5.01.	 	 Conversion Privilege.
	  	 	29	  
	Section 5.02.	 	 Conversion Procedure.
	  	 	29	  
	Section 5.03.	 	 Fractional Shares.
	  	 	30	  
	Section 5.04.	 	 Taxes on Conversion.
	  	 	30	  
	Section 5.05.	 	 Issuance of Common Stock Upon Conversion.
	  	 	31	  
	Section 5.06.	 	 Adjustment of Conversion Price.
	  	 	31	  
	Section 5.07.	 	 No Adjustment.
	  	 	38	  
	Section 5.08.	 	 Adjustment for Tax Purposes.
	  	 	39	  
	Section 5.09.	 	 Temporary Reduction of Conversion Price.
	  	 	39	  
	Section 5.10.	 	 Notice of Certain Transactions.
	  	 	39	  
	Section 5.11.	 	 Effect of Reclassification, Consolidation, Merger, Binding Share Exchange or Sale on Conversion Privilege.
	  	 	40	  
	Section 5.12.	 	 Disclaimer.
	  	 	41	  
	Section 5.13.	 	 Limitation on Adjustments.
	  	 	41	  
	
	ARTICLE 6	  
	
	REDEMPTION	  
			
	Section 6.01.	 	 Right to Redeem; Notices to Trustee.
	  	 	42	  
	Section 6.02.	 	 Selection of Securities to Be Redeemed.
	  	 	43	  
	Section 6.03.	 	 Notice of Redemption.
	  	 	43	  
	Section 6.04.	 	 Effect of Notice of Redemption.
	  	 	45	  
	Section 6.05.	 	 Deposit of Redemption Price.
	  	 	45	  
	Section 6.06.	 	 Securities Redeemed in Part.
	  	 	45	  
	
	ARTICLE 7	  
	
	COVENANTS	  
			
	Section 7.01.	 	 Payment of Securities.
	  	 	45	  
	Section 7.02.	 	 SEC Reports.
	  	 	46	  
	Section 7.03.	 	 [Reserved].
	  	 	46	  
	Section 7.04.	 	 Compliance Certificates.
	  	 	46	  
	Section 7.05.	 	 Additional Interest Notice.
	  	 	47	  
	Section 7.06.	 	 Rule 144A Information Requirements.
	  	 	47	  
	Section 7.07.	 	 Further Instruments and Acts.
	  	 	48	  

  
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	 Section 7.08.
	 	 Maintenance of Corporate Existence.
	  	 	48	  
	 Section 7.09.
	 	 Stay, Extension and Usury Laws.
	  	 	48	  
	 Section 7.10.
	 	 Additional Interest Payable Upon Failure to Report or to Delegend.
	  	 	48	  
	
	ARTICLE 8	  
	
	CONSOLIDATION, MERGER, BINDING SHARE EXCHANGE, CONVEYANCE, TRANSFER OR LEASE	  
			
	 Section 8.01.
	 	 Company May Consolidate, etc., only on Certain Terms.
	  	 	49	  
	 Section 8.02.
	 	 Successor Substituted.
	  	 	50	  
	
	ARTICLE 9	  
	
	DEFAULT AND REMEDIES	  
			
	 Section 9.01.
	 	 Events of Default.
	  	 	50	  
	 Section 9.02.
	 	 Acceleration.
	  	 	52	  
	 Section 9.03.
	 	 Other Remedies.
	  	 	53	  
	 Section 9.04.
	 	 Waiver of Defaults and Events of Default.
	  	 	53	  
	 Section 9.05.
	 	 Control by Majority.
	  	 	53	  
	 Section 9.06.
	 	 Limitations on Suits.
	  	 	54	  
	 Section 9.07.
	 	 Rights of Holders to Receive Payment and to Convert.
	  	 	54	  
	 Section 9.08.
	 	 Collection Suit by Trustee.
	  	 	54	  
	 Section 9.09.
	 	 Trustee May File Proofs of Claim.
	  	 	55	  
	 Section 9.10.
	 	 Priorities.
	  	 	55	  
	 Section 9.11.
	 	 Undertaking for Costs.
	  	 	56	  
	
	ARTICLE 10	  
	
	TRUSTEE	  
	 Section 10.01.
	 	 Duties of Trustee.
	  	 	56	  
	 Section 10.02.
	 	 Rights of Trustee.
	  	 	57	  
	 Section 10.03.
	 	 Monies Held in Trust.
	  	 	59	  
	 Section 10.04.
	 	 Trustee’s Disclaimer.
	  	 	59	  
	 Section 10.05.
	 	 Notice of Default or Events of Default.
	  	 	59	  
	 Section 10.06.
	 	 Reports by Trustee to Holders.
	  	 	59	  
	 Section 10.07.
	 	 Compensation and Indemnity.
	  	 	59	  
	 Section 10.08.
	 	 Replacement of Trustee.
	  	 	60	  
	 Section 10.09.
	 	 Successor Trustee by Merger, etc.
	  	 	61	  
	 Section 10.10.
	 	 Eligibility; Disqualification.
	  	 	62	  
	 Section 10.11.
	 	 Preferential Collection of Claims Against Company.
	  	 	62	  
	 Section 10.12.
	 	 Trustee or Agents May Hold Securities.
	  	 	62	  

  
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	ARTICLE 11	  
	
	SATISFACTION AND DISCHARGE	  
			
	 Section 11.01.
	 	 Satisfaction and Discharge.
	  	 	62	  
	 Section 11.02.
	 	 Application of Trust Money.
	  	 	63	  
	 Section 11.03.
	 	 Repayment to Company.
	  	 	63	  
	 Section 11.04.
	 	 Reinstatement.
	  	 	63	  
	
	ARTICLE 12	  
	
	AMENDMENTS, SUPPLEMENTS AND WAIVERS	  
			
	 Section 12.01.
	 	 Without Consent of Holders.
	  	 	64	  
	 Section 12.02.
	 	 With Consent of Holders.
	  	 	64	  
	 Section 12.03.
	 	 Reserved.
	  	 	65	  
	 Section 12.04.
	 	 Revocation and Effect of Consents.
	  	 	65	  
	 Section 12.05.
	 	 Notation on or Exchange of Securities.
	  	 	66	  
	 Section 12.06.
	 	 Trustee to Sign Amendments, etc.
	  	 	66	  
	 Section 12.07.
	 	 Effect of Supplemental Indentures.
	  	 	66	  
	
	ARTICLE 13	  
	
	MISCELLANEOUS	  
			
	 Section 13.01.
	 	 Trust Indenture Act Controls.
	  	 	66	  
	 Section 13.02.
	 	 Notices.
	  	 	67	  
	 Section 13.03.
	 	 Communications by Holders with Other Holders.
	  	 	67	  
	 Section 13.04.
	 	 Certificate and Opinion as to Conditions Precedent.
	  	 	68	  
	 Section 13.05.
	 	 Record Date for Vote or Consent of Securityholders.
	  	 	68	  
	 Section 13.06.
	 	 Rules by Trustee, Paying Agent, Registrar and Conversion Agent.
	  	 	69	  
	 Section 13.07.
	 	 Legal Holidays.
	  	 	69	  
	 Section 13.08.
	 	 Governing Law.
	  	 	69	  
	 Section 13.09.
	 	 No Adverse Interpretation of Other Agreements.
	  	 	69	  
	 Section 13.10.
	 	 No Recourse Against Others.
	  	 	69	  
	 Section 13.11.
	 	 Successors.
	  	 	69	  
	 Section 13.12.
	 	 Multiple Counterparts.
	  	 	70	  
	 Section 13.13.
	 	 Severability.
	  	 	70	  
	 Section 13.14.
	 	 Table of Contents, Headings, etc.
	  	 	70	  
	 Section 13.15.
	 	 Force Majeure.
	  	 	70	  
	 Section 13.16.
	 	 Waiver of Jury Trial.
	  	 	70	  
	 Section 13.17.
	 	 No Security Interest Created.
	  	 	70	  
	 Section 13.18.
	 	 Benefits of Indenture.
	  	 	71	  
	 Section 13.19.
	 	 Consent to Jurisdiction.
	  	 	71	  
	 Exhibit A
	 	 Form of Security
	  	 	A-F-1	  
	 Exhibit B
	 	 Form of Transfer Certificate for Transfer of Restricted Common Stock
	  	 	B-1	  
	 Exhibit C
	 	 Form of Notice of Redemption
	  	 	C-1	  

  
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 THIS INDENTURE, dated as of May 7, 2013, is between
TeleCommunication Systems, Inc., a corporation duly organized under the laws of Maryland (the “Company”), and The Bank of New York Mellon Trust Company, N.A., a national banking association having an office at 525 William Penn
Place, 38th Floor, Pittsburgh, PA 15259, as Trustee (the
“Trustee”). 
 In consideration of the premises and the acquisition of the Securities by the Holders thereof,
both parties agree as follows for the benefit of the other and for the equal and ratable benefit of the registered Holders of the Securities. 
 ARTICLE 1 
 DEFINITIONS AND INCORPORATION BY REFERENCE 

Section 1.01. Definitions. 
 “Additional Interest” means any additional interest payable pursuant to Section 7.10 or Section 9.02(b) hereof. 

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

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

“Applicable Procedures” means, with respect to any transfer or exchange of beneficial ownership interests in a Global
Security, the delegending of Global Securities or shares of Common Stock, the increase or decrease in the aggregate principal amount of the Global Security from time to time or any redemption or conversion of a Global Security, the rules and
procedures of the Depositary, in each case to the extent applicable to such transfer, exchange, delegending, increase or decrease in aggregate principal amount, or redemption or conversion of the Global Security. 

“Board of Directors” means either the board of directors of the Company or any committee of the Board of Directors
specifically authorized to act for it with respect to this Indenture. 
 “Business Day” means each day that is
not a Legal Holiday. 
 “Capital Stock” of any Person means any and all shares, interests, rights to purchase,
warrants, options, participations or other equivalents of or interests in (however designated) equity of such Person, but excluding any debt securities convertible into such equity. 

“Cash” or “cash” means such coin or currency of the United States as at any time of payment is legal
tender for the payment of public and private debts. 

  
 – 1
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 “Certificated Security” means a Security that is in substantially the form
attached hereto as Exhibit A and that does not include the information or the schedule called for by footnotes 1, 3 and 7 thereof. 
 “Closing Sale Price” of the Common Stock means, as of any date of determination, the closing sale price per share (or, if no such closing sale price is reported on such day, the average
of the bid and asked prices or, if more than one in either case, the average of the average bid and the average asked prices) at 4:00 p.m. (New York City time) on such date as reported in composite transactions for the principal U.S. securities
exchange on which the Common Stock is traded or, if the Common Stock is not listed on a U.S. national or regional securities exchange, as reported by Pink OTC Markets Inc. If the Common Stock is not so reported, the “Closing Sale Price” of
the Common Stock means the average of the mid-point of the last bid and ask prices for the Common Stock on the relevant date from each of at least three U.S. nationally recognized independent investment banking firms selected by the Company for this
purpose. The Closing Sale Price shall be determined without reference to extended or after hours trading. 
 “Common
Stock” means Class A common stock of the Company, $0.01 par value, as it exists on the date of this Indenture and any shares of any class or classes of Capital Stock of the Company resulting from any reclassification or
reclassifications thereof and which have no preference in respect of dividends or of amounts payable in the event of any voluntary or involuntary liquidation, dissolution or winding-up of the Company and which are not subject to redemption by the
Company; provided, however, that, if at any time there shall be more than one such resulting class, the shares of each such class then so issuable on conversion of the Securities shall be substantially in the proportion which the total
number of shares of such class resulting from all such reclassifications bears to the total number of shares of all such classes resulting from all such reclassifications. 
 “Company” means the party named as such in the first paragraph of this Indenture until a successor replaces it pursuant to the applicable provisions of this Indenture, and thereafter
“Company” shall mean such successor. 
 “Company Order” means a written order or orders of the
Company signed by two Officers of the Company. 
 “Conversion Rate” means, as of any date of determination, an
amount equal to $1,000 divided by the then applicable Conversion Price on such date, rounded to the nearest 1/10,000th of a share, for each $1,000 principal amount of the Securities. As of the date hereof and subject to adjustment pursuant to
Section 5.06, the Conversion Rate with respect to the Securities is approximately 96.637 shares of Common Stock. 
 “Corporate Trust Office” means the office of the Trustee at which at any time this Indenture shall be administered, which office at the date of the execution of this Indenture is located
at 525 William Penn Place, 38th Floor, Pittsburgh, PA
15259, and for purposes of Section 7 shall also include 101 Barclay Street, Floor 8W, New York, New York 10286, Attention: Corporate Trust Administration, or at any other time at such other address as the Trustee may designate from time to
time by notice to the Holders and the Company or the principal corporate trust office of any successor Trustee (or such other address as such successor Trustee may designate from time to time by notice to the Company). 

  
 – 2
– 

 “Default” or “default” means any event which is or, after
notice or passage of time or both, would be an Event of Default. 
 “Ex-Dividend Date” means with respect to
any issuance, dividend or distribution on the Common Stock, the first date on which the shares of Common Stock trade, regular way, on the relevant exchange or in the relevant market without the right to receive such issuance, dividend or
distribution. 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and
regulations promulgated thereunder, as in effect from time to time. 
 “Fair Market Value” means with respect
to any asset or property, the price which could be negotiated in an arm’s length, free market transaction, for Cash, between a willing seller and a willing and able buyer, neither of whom is under undue pressure or compulsion to complete the
transaction. For all purposes of this Indenture, Fair Market Value shall be determined in good faith by the Board of Directors, whose determination will be conclusive and evidenced by a resolution of the Board of Directors. 

“GAAP” means generally accepted accounting principles set forth in the opinions and pronouncements of the Accounting
Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other entity as may be approved by a significant segment of
the accounting profession of the United States, as in effect from time to time. 
 “Global Security” means a
permanent Global Security that is in substantially the form attached hereto as Exhibit A and that includes the information and schedule called for by footnotes 1, 3 and 7 thereof and which is deposited with the Depositary or its
custodian and registered in the name of the Depositary or its nominee. 
 “Holder” or
“Securityholder” means the person in whose name a Security is registered on the Primary Registrar’s books. 
 “Indenture” means this Indenture as amended or supplemented from time to time pursuant to the terms of this Indenture. 

“Initial Issue Date” means May 7, 2013. 
 “interest”, in respect of the Securities, unless the context otherwise requires, refers to interest payable on the Securities, including Additional Interest, if any. 

“Market Disruption Event” means the occurrence or existence for more than one half hour period in the aggregate on any
Scheduled Trading Day for the Common Stock of any suspension or limitation imposed on trading, by reason of movements in price exceeding limits permitted by NASDAQ or otherwise, in the Common Stock or in any options, contracts or future contracts
relating to the Common Stock, and such suspension or limitation occurs or exists at any time before 1:00 p.m. (New York City time) on such day. 

  
 – 3
– 

 “Maturity Date” means June 30, 2018. 

“NASDAQ” means the NASDAQ Stock Market. 
 “Officer” means the Chairman or any Co-Chairman of the Board of Directors, any Vice Chairman of the Board of Directors, the Chief Executive Officer, the President, any Vice President, the
Chief Financial Officer, the Treasurer, the Secretary or any Assistant Treasurer or Assistant Secretary of the Company. 

“Officers’ Certificate” means a certificate signed on behalf of the Company by two or more Officers of the Company,
one of whom must be either the principal executive officer, the principal financial officer or the principal accounting officer of the Company, delivered to the Trustee, that meets the requirements of Section 13.04. 

“Opinion of Counsel” means a written opinion that meets the requirements of Section 13.04 from legal counsel. The
counsel may be an employee of or counsel to the Company. 
 “Person” or “person” means any
individual, corporation, partnership, limited liability company, joint venture, association, joint-stock company, trust, unincorporated organization, government or any agency or political subdivision thereof or any other entity. 

“Principal” or “principal” of a debt security, including the Securities, means the principal of the
security plus, when appropriate, the premium, if any, on the security. 
 “QIB” means any “qualified
institutional buyer” (as defined in Rule 144A). 
 “Redemption Date” means the date specified for
redemption of the Securities in accordance with the terms of the Securities and Article 6. 
 “Restricted Common
Stock” means Common Stock issued upon conversion of a Security that is Transfer Restricted Common Stock. 

“Restricted Global Security” means a Global Security that is a Transfer Restricted Security. 

“Restricted Security Legend” means the legend set forth in Section 2.12(a). 

“Restricted Stock Legend” means the legend required by Section 2.12(b). 

“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 any day that is scheduled to be a Trading Day. 

“SEC” means the United States Securities and Exchange Commission. 

  
 – 4
– 

 “Securities” means the 7.75% Convertible Senior Notes due 2018, or any of
them (each, a “Security”). 
 “Securities Act” means the Securities Act of 1933, as amended, and the
rules and regulations promulgated thereunder, as in effect from time to time. 
 “Securities Custodian”
means the Trustee, as custodian with respect to the Securities in global form, or any successor thereto. 
 “Significant
Subsidiary” means, in respect of any Person, a Subsidiary of such Person that would constitute a “significant subsidiary” as such term is defined under Rule 1-02(w) of Regulation S-X under the Exchange Act. 

“Stated Maturity” means, with respect to any Security, the date specified in such security as the fixed date on which
the final payment of principal of such Security is due and payable, including pursuant to any mandatory redemption provision (but excluding any provision providing for the repurchase of such security at the option of the Holder thereof upon the
happening of any contingency beyond the control of the issuer unless such contingency has occurred). 

“Subsidiary” means, in respect of any Person, any corporation, association, partnership or other business entity of
which more than 50% of the total voting power of shares of Capital Stock or other equity interests entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers, general partners or trustees thereof is
at the time owned or controlled, directly or indirectly, by (i) such Person; (ii) such Person and one or more Subsidiaries of such Person; or (iii) one or more Subsidiaries of such Person. 

“TIA” means the Trust Indenture Act of 1939, as amended, and the rules and regulations thereunder as in effect on
the date of this Indenture, except to the extent any amendment to the Trust Indenture Act expressly provides for application of the Trust Indenture Act as in effect on another date. 

“Trading Day” means a day on which (i) trading in the Common Stock generally occurs, (ii) there is no Market
Disruption Event and (iii) a Closing Sale Price for the Common Stock (other than a Closing Sale Price referred to in the second sentence of the definition thereof) is available for such day; provided that if the Common Stock is not
admitted for trading or quotation on or by any exchange, bureau or other organization referred to in the definition of Closing Sale Price (excluding the second sentence of that definition), “Trading Day” will mean any Business Day. A
“Trading Day” only includes those days that have a scheduled closing time of 4:00 p.m. (New York City time) or the then standard closing time for regular trading on the relevant exchange or trading system. 

“Trust Officer” shall mean, when used with respect to the Trustee, any officer within the corporate trust department of
the Trustee, including any vice president, assistant vice president, assistant secretary, assistant treasurer, trust officer or any other officer of the Trustee who customarily performs functions similar to those performed by the Persons who at the
time shall be such officers, respectively, who shall have direct responsibility for the administration of this Indenture, or any other officer to whom any corporate trust matter is referred because of such person’s knowledge of and familiarity
with the particular subject. 

  
 – 5
– 

 “Trustee” means the party named as such in the first paragraph of this
Indenture until a successor replaces it in accordance with the provisions of this Indenture and, thereafter, means the successor. 
 “Vice President”, when used with respect to the Company or the Trustee, means any vice president, whether or not designated by a number or a word or words added before or after the title
“vice president.” 
 “Voting Stock” of a Person means any class or classes of Capital Stock or other
interests of such Person then outstanding and normally entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof. 

“Wholly Owned Subsidiary” means a Significant Subsidiary of the Company all the Capital Stock of which (other than
directors’ qualifying shares) is owned by the Company or another Wholly Owned Subsidiary. 
 Section 1.02. Other
Definitions. 
  

			
	 Term
	  	 Defined in Section

		
	 “Additional Interest Notice”
	  	7.05
	 “Additional Securities”
	  	2.16(a)
	 “Agent Members”
	  	2.01(b)
	 “Bankruptcy Law”
	  	9.01
	 “beneficial owner”
	  	3.01(a)
	 “Change in Control”
	  	3.01(a)
	 “Conversion Agent”
	  	2.03
	 “Conversion Date”
	  	5.02(b)
	 “Conversion Obligation”
	  	5.05(a)
	 “Conversion Price”
	  	5.06
	 “Custodian”
	  	9.01
	 “Depositary”
	  	2.01(a)
	 “DTC”
	  	2.01(a)
	 “Event of Default”
	  	9.01
	 “Expiration Date”
	  	5.06(e)
	 “Expiration Time”
	  	5.06(e)
	 “Fundamental Change”
	  	3.01(a)
	 “Fundamental Change Purchase Date”
	  	3.01(a)
	 “Fundamental Change Purchase Notice”
	  	3.01(c)
	 “Fundamental Change Purchase Price”
	  	3.01(a)
	 “Interest Payment Date”
	  	4.01(a)
	 “Legal Holiday”
	  	13.07
	 “Notice of Conversion”
	  	5.02(a)
	 “Notice of Default”
	  	9.01(k)

  
 – 6
– 

			
	 Term
	  	 Defined in Section

		
	 “Paying Agent”
	  	2.03
	 “Primary Registrar”
	  	2.03
	 “Record Date”
	  	4.01(a)
	 “Redemption Price”
	  	6.01(b)
	 “Reference Property”
	  	5.11
	 “Registrar”
	  	2.03
	 “Registration Default”
	  	7.10(b)
	 “Related Proceedings”
	  	13.19
	 “Resale Restriction Termination Date”
	  	2.12(a)
	 “Specified Courts”
	  	13.19
	 “Spin-Off”
	  	5.06(c)
	 “Termination of Trading”
	  	3.01(a)
	 “Transfer Restricted Common Stock”
	  	2.12(b)
	 “Transfer Restricted Securities”
	  	2.12(a)
	 “Unissued Shares”
	  	3.01(a)
	 “Valuation Period”
	  	5.06(c)

 Section 1.03. Trust Indenture Act Provisions. 

Whenever this Indenture refers to a provision of the TIA, that provision is incorporated by reference in and made a part of this
Indenture. This Indenture shall also include those provisions of the TIA that would be required to be included herein by the provisions of the Trust Indenture Reform Act of 1990, if any. The following TIA terms used in this Indenture have the
following meanings: 
 “obligor” on the Securities means the Company or any other obligor on the Securities.

 All other terms used in this Indenture that are defined in the TIA, defined by TIA reference to another statute or defined by
any SEC rule and not otherwise defined herein have the meanings assigned to them therein. 
 Section 1.04. Rules of
Construction. 
 Unless the context otherwise requires: 

(A) a term has the meaning assigned to it herein; 
 (B) words in the singular include the plural, and words in the plural include the singular; 
 (C) provisions apply to successive events and transactions; 
 (D) the
term “merger” includes a statutory share exchange, and the term “merged” has a correlative meaning; 

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

  
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 (F) references to agreements and other instruments include subsequent amendments
thereto; 
 (G) “herein,” “hereof” and other words of similar import refer to this Indenture as a whole
and not to any particular Article, Section or other subdivision; 
 (H) references to the payments on the Securities shall
include Additional Interest payable hereunder, if any. 
 ARTICLE 2 

THE SECURITIES 
 Section 2.01. Form and Dating. 
 The Securities and the corresponding
Trustee’s certificate of authentication shall be substantially in the respective forms set forth in Exhibit A, which Exhibit is incorporated in and made part of this Indenture. The Securities may have notations, legends or
endorsements required by law, stock exchange rule or usage. The Company shall provide any such notations, legends or endorsements to the Trustee in writing. The Securities shall be dated the date of their authentication. 

(a) Restricted Global Securities. Securities offered and sold to QIBs in reliance on Rule 144A (or offered and sold pursuant
to another applicable exemption from the registration requirements of the Securities Act) shall be issued in the form of one or more Restricted Global Securities, substantially in the form of Exhibit A, which shall be deposited on behalf of
the acquirers of the Securities represented thereby with the Trustee, at its Corporate Trust Office, as custodian for the depositary, The Depository Trust Company (“DTC”) (such depositary, or any successor thereto, being hereinafter
referred to as the “Depositary”), and registered in the name of its nominee, Cede & Co., duly executed by the Company and authenticated by the Trustee as hereinafter provided. The aggregate principal amount of the
Global Securities may from time to time be increased or decreased by adjustments made on the records of the Securities Custodian as hereinafter provided, subject in each case to compliance with the Applicable Procedures. 

(b) Global Securities in General. Each Global Security shall represent such of the outstanding Securities as shall be
specified therein, and each shall provide that it shall represent the aggregate principal amount of outstanding Securities from time to time endorsed thereon and that the aggregate principal amount of outstanding Securities represented thereby may
from time to time be reduced or increased, as appropriate, to reflect exchanges, transfers, redemptions, purchases or conversions of such Securities. Any adjustment of the aggregate principal amount of a Global Security to reflect the amount of
any increase or decrease in the amount of outstanding Securities represented thereby shall be made by the Trustee in accordance with instructions given by the Holder thereof as required by Section 2.12 hereof and shall be made on the records of
the Trustee and the Depositary. Payment of principal of and Interest and premium, if any, on any Global Security shall be made to the Holder of such Security. 

  
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 Members of, or participants in, the Depositary (“Agent Members”) shall have
no rights under this Indenture with respect to any Global Security held on their behalf by the Depositary or under the Global Security, and the Depositary (including, for this purpose, its nominee) may be treated by the Company, the Trustee and any
agent of the Company or the Trustee as the absolute owner and Holder of such Global Security for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall (A) prevent the Company, the Trustee or any agent of the Company
or the Trustee from giving effect to any written certification, proxy or other authorization furnished by the Depositary or (B) impair, as between the Depositary and its Agent Members, the operation of customary practices governing the exercise
of the rights of a Holder of any Security. 
 (c) Book Entry Provisions. The Company shall execute and the Trustee
shall, in accordance with this Section 2.01(c) and Section 2.02, authenticate and deliver initially one or more Global Securities that (i) shall be registered in the name of Cede & Co. or as otherwise instructed by the
Depositary, (ii) shall be held by the Trustee as Securities Custodian or pursuant to the Depositary’s instructions and (iii) shall bear legends substantially to the following effect: 

“UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION
(“DTC”), TO TELECOMMUNICATION SYSTEMS, INC. (THE “COMPANY”) OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT HEREON IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE
BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.” 

Section 2.02. Execution and Authentication. 
 An Officer shall sign the Securities for the Company by manual or facsimile signature. Typographic and other minor errors or defects in any such facsimile signature shall not affect the validity or
enforceability of any Security which has been authenticated and delivered by the Trustee. 
 If an Officer whose signature is on
a Security no longer holds that office at the time the Trustee authenticates the Security, the Security shall be valid nevertheless. 
 A Security shall not be valid until an authorized signatory of the Trustee manually signs the certificate of authentication on the Security. The signature shall be conclusive evidence that the
Security has been authenticated under this Indenture. 
 The Trustee shall authenticate and make available for delivery
Securities for original issue in the aggregate principal amount of up to $50,000,000 (subject to Section 2.16) upon receipt of (i) a Company Order, (ii) an Officers’ Certificate and Opinion of Counsel pursuant to
Section 13.04 hereof, and (iii) an Opinion of Counsel stating that this Indenture and the 

  
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Securities constitute legal, valid and binding obligations of the Company, subject to customary exceptions. Additional Securities may thereafter be issued pursuant to Section 2.16
hereof. Each Company Order shall specify the amount of Securities to be authenticated, shall provide that all Securities will be represented by a Global Security and the date on which each original issue of Securities is to be authenticated.
The Trustee shall have the right to decline to authenticate and deliver any Securities under this Section if the Trustee, being advised by counsel, determines that such action may not lawfully be taken or if the Trustee in good faith shall determine
that such action would expose the Trustee to personal liability to existing Holders. 
 The Trustee shall act as the initial
authenticating agent. Thereafter, the Trustee may appoint an authenticating agent acceptable to the Company to authenticate Securities. An authenticating agent may authenticate Securities whenever the Trustee may do so. Each reference
in this Indenture to authentication by the Trustee includes authentication by such agent. An authenticating agent shall have the same rights as an Agent to deal with the Company or an Affiliate of the Company. 

The Securities shall be issuable only in registered form without coupons and only in denominations of $1,000 principal amount and any
integral multiple thereof. 
 Section 2.03. Registrar, Paying Agent and Conversion Agent. 

The Company shall maintain one or more offices or agencies in The City of New York where Securities may be presented for registration of
transfer or for exchange (each, a “Registrar”) or for conversion (each, a “Conversion Agent”), one or more offices or agencies where Securities may be presented for payment (each, a “Paying Agent”)
and one or more offices or agencies where notices and demands to or upon the Company in respect of the Securities and this Indenture may be served. One of the Registrars (the “Primary Registrar”) shall keep a register of the
Securities and of their transfer and exchange. 
 The Company shall enter into an appropriate agency agreement with any Agent
not a party to this Indenture. The agreement shall implement the provisions of this Indenture that relate to such Agent. The Company shall notify the Trustee in writing of the name and address of any Agent not a party to this
Indenture. If the Company fails to maintain a Registrar, Paying Agent, or Conversion Agent, or fails to give the foregoing notice, the Trustee shall act as such. The Company or any Affiliate of the Company may act as Paying Agent (except
for the purposes of Article 11). 
 The Company hereby initially designates the Trustee as Paying Agent, Registrar,
Securities Custodian and Conversion Agent, and the Corporate Trust Office of the Trustee to be such office or agency of the Company for each of the aforesaid purposes. 
 Section 2.04. Paying Agent to Hold Money in Trust. 
 Prior to
11:00 a.m. (New York City time) on each due date of the principal of or interest on any Securities, the Company shall deposit with a Paying Agent a sum sufficient to pay such principal and interest so becoming due. The Company shall
require each Paying Agent other 

  
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than the Trustee to agree in writing that such Paying Agent shall hold in trust for the benefit of Holders or the Trustee all money held by the Paying Agent for the payment of principal of or
interest on the Securities and shall notify the Trustee in writing of any default by the Company (or any other obligor on the Securities) in making any such payment. If the Company or an Affiliate of the Company acts as Paying Agent, it shall,
before 11:00 a.m. (New York City time) on each due date of the principal of or interest on any Securities, segregate the money and hold it as a separate trust fund. The Company at any time may require a Paying Agent to pay all money held
by it to the Trustee, and the Trustee may at any time during the continuance of any default, upon written request to a Paying Agent, require such Paying Agent to pay forthwith to the Trustee all sums so held in trust by such Paying Agent. Upon
doing so, the Paying Agent (other than the Company) shall have no further liability for the money. 
 Section 2.05.
Securityholder Lists. 
 The Trustee shall preserve in as current a form as is reasonably practicable the most recent
list available to it of the names and addresses of Holders. If the Trustee is not the Primary Registrar, the Company shall furnish to the Trustee at least five Business Days before each semiannual interest payment date, and at such other times as
the Trustee may request in writing, a list in such form and as of such date as the Trustee may reasonably require of the names and addresses of Holders. 
 Section 2.06. Transfer and Exchange. 
 (a) Subject to compliance with
any applicable additional requirements contained in Section 2.12, when a Security is presented to a Registrar with a request to register a transfer thereof or to exchange such Security for an equal principal amount of Securities of other
authorized denominations, the Registrar shall register the transfer or make the exchange as requested; provided, however, that every Security presented or surrendered for registration of transfer or exchange shall be duly endorsed or
accompanied by, if applicable, any legal opinions, certifications or other evidence required by the Company pursuant to Section 2.12 and, if it is a Certificated Security, an assignment form in the form included in Exhibit A, all in
form satisfactory to the Registrar duly executed by the Holder thereof or its attorney duly authorized in writing. To permit registration of transfers and exchanges, upon surrender of any Security for transfer or exchange at an office or agency
maintained pursuant to Section 2.03, the Company shall execute and the Trustee shall authenticate Securities of a like aggregate principal amount at the Registrar’s request. Any exchange or transfer shall be without charge, except
that the Company or the Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto; provided that this sentence shall not apply to any exchange pursuant to
Section 2.10, 2.12, 3.04, 5.02(d), 6.06 or 12.05. 
 None of the Company, any Registrar or the Trustee shall be required to
exchange or register a transfer of any Securities or portions thereof (i) in respect of which a Fundamental Change Purchase Notice has been delivered and not withdrawn by the Holder thereof (except, in the case of the purchase of a Security in
part, the portion thereof not to be purchased), (ii) surrendered for conversion pursuant to Article 5, or (iii) called for redemption pursuant to Article 6. 

  
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 All Securities issued upon any transfer or exchange of Securities shall be valid obligations
of the Company, evidencing the same debt and entitled to the same benefits under this Indenture, as the Securities surrendered upon such transfer or exchange. 
 (b) Any Registrar appointed pursuant to Section 2.03 hereof shall provide to the Trustee such information as the Trustee may reasonably require in connection with the delivery by such Registrar of
Securities upon transfer or exchange of Securities. 
 (c) Each Holder of a Security agrees to indemnify the Company and the
Trustee against any liability that may result from the transfer, exchange or assignment of such Holder’s Security in violation of any provision of this Indenture and/or applicable U.S. federal or state securities law. Prior to the due
presentment of a registration of a transfer of any Security, the Trustee, any Agent and the Company may deem and treat the Person in whose name any Security is registered as the absolute owner of such Security for the purpose of all payments with
respect to such Securities, and neither the Trustee, any Agent nor the Company shall be affected by notice to the contrary. Neither the Trustee nor any Agent shall have any responsibility for any actions taken or not taken by the Depositary.

 The Trustee shall have no obligation or duty to monitor, determine or inquire as to compliance with any restrictions on
transfer imposed under this Indenture or under applicable law with respect to any transfer of any interest in any Security (including any transfers between or among Agent Members or other beneficial owners of interests in any Global Security) other
than to require delivery of such certificates and other documentation or evidence as are expressly required by, and to do so if and when expressly required by the terms of, this Indenture and to examine the same to determine substantial compliance
as to form with the express requirements hereof. 
 Section 2.07. Replacement Securities. 

If any mutilated Security is surrendered to the Company, a Registrar or the Trustee, or the Company, a Registrar and the Trustee receive
evidence to their satisfaction of the destruction, loss or theft of any Security, and there is delivered to the Company, the applicable Registrar and the Trustee such security or indemnity as will be required by them to save each of them from any
loss they may suffer if a Security is replaced, then, in the absence of written notice to the Company, such Registrar or the Trustee that such Security has been acquired by a bona fide purchaser, the Company shall execute, and upon its written
request the Trustee shall authenticate and deliver, in exchange for any such mutilated Security or in lieu of any such destroyed, lost or stolen Security, a new Security of like tenor and principal amount, bearing a number not contemporaneously
outstanding. The Trustee and the Company each may charge such Holder for their expenses in replacing such Security. 
 In case
any such mutilated, destroyed, lost or stolen Security has become or is about to become due and payable, or is about to be purchased by the Company pursuant to Article 3, or converted pursuant to Article 5, or redeemed pursuant to Article 6,
the Company in its discretion may, instead of issuing a new Security, pay, purchase, convert or redeem such Security, as the case may be. 

  
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 Upon the issuance of any new Securities under this Section 2.07, the Company may
require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the reasonable fees and expenses of the Trustee or the Registrar) in
connection therewith. 
 Every new Security issued pursuant to this Section 2.07 in lieu of any mutilated, destroyed, lost
or stolen Security shall constitute an original additional contractual obligation of the Company, whether or not the mutilated, destroyed, lost or stolen Security shall be at any time enforceable by anyone, and shall be entitled to all benefits of
this Indenture equally and proportionately with any and all other Securities duly issued hereunder. 
 The provisions of this
Section 2.07 are (to the extent lawful) exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities. 

Section 2.08. Outstanding Securities. 
 Securities outstanding at any time are all Securities authenticated by the Trustee, except for those canceled by it, those purchased pursuant to Article 3, those converted pursuant to Article 5,
those redeemed pursuant to Article 6, those delivered to it for cancellation or surrendered for transfer or exchange and those described in this Section 2.08 as not outstanding. 

If a Security is replaced pursuant to Section 2.07, it ceases to be outstanding unless the Company receives, subsequent to the new
Security’s authentication, proof satisfactory to the Company that the replaced Security is held by a bona fide purchaser unaware that such Security has been replaced. 
 If a Paying Agent (other than the Company or an Affiliate of the Company) holds in respect of Securities on a Fundamental Change Purchase Date, a Redemption Date or the Maturity Date money sufficient to
pay the principal, Fundamental Change Purchase Price or Redemption Price, as appropriate, and any accrued interest on Securities (or portions thereof) payable on that date, then on and after such Fundamental Change Purchase Date, Redemption Date or
the Maturity Date, as the case may be, such Securities (or portions thereof, as the case may be) shall cease to be outstanding and any interest on them shall cease to accrue. 
 Subject to the restrictions contained in Section 2.09, a Security does not cease to be outstanding because the Company or an Affiliate of the Company holds the Security. 

Section 2.09. Treasury Securities. 
 In determining whether the Holders of the required principal amount of Securities have concurred in any notice, direction, waiver or consent, Securities owned by the Company or any other obligor on the
Securities or by any Affiliate of the Company or of such other obligor shall be disregarded, except that, for purposes of determining whether the Trustee shall be protected in relying on any such notice, direction, waiver or consent, only Securities
which a Trust Officer of the Trustee actually knows are so owned shall be so disregarded. Securities so owned which have been pledged in good faith shall not be disregarded if the pledgee establishes to the satisfaction of the Trustee the
pledgee’s right so to act with respect to the Securities and that the pledgee is not the Company or any other obligor on the Securities or any Affiliate of the Company or of such other obligor. 

  
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 Section 2.10. Temporary Securities. 

Until definitive Securities are ready for delivery, the Company may prepare and execute, and, upon receipt of a Company Order, the
Trustee shall authenticate and deliver, temporary Securities. Temporary Securities shall be substantially in the form of definitive Securities but may have variations that the Company considers appropriate for temporary Securities and as shall
be reasonably acceptable to the Trustee. Every temporary Security shall be executed and registered by the Company and be authenticated by the Trustee upon the same conditions and in substantially the same manner, and with like effect, as the
definitive Securities. Without unreasonable delay, the Company shall prepare and the Trustee shall authenticate and deliver definitive Securities in exchange for temporary Securities. 

Section 2.11. Cancellation. 
 The Company at any time may deliver Securities to the Trustee for cancellation. The Registrar, the Paying Agent and the Conversion Agent shall forward to the Trustee or its agent any Securities
surrendered to them for transfer, exchange, redemption, payment or conversion. The Trustee and no one else shall cancel, in accordance with its standard procedures, all Securities surrendered for transfer, exchange, payment, conversion or
cancellation and shall deliver a certificate of such cancellation to the Company upon request. The Company may, to the extent permitted by law, purchase Securities in the open market or by tender offer at any price or by private agreement. Any
Securities purchased or otherwise acquired by the Company or any of its Subsidiaries prior to the Maturity Date may, to the extent permitted by law, be reissued or resold or may, at the option of the Company, be surrendered to the Trustee for
cancellation. Any Securities surrendered for cancellation may not be reissued or resold and shall be promptly cancelled by the Trustee, and the Company may not hold or resell such Securities or issue any new Securities to replace any such Securities
or any Securities that any Holder has converted pursuant to Article 5. 
 Section 2.12. Legends; Additional
Transfer Requirements. 
 (a) Every Security that bears or is required pursuant to the terms of the Securities Act (or other
applicable securities laws) to bear the Restricted Security Legend set forth in this Section 2.12(a) (the “Transfer Restricted Securities”) shall be subject to the restrictions on transfer set forth in Section 2.06 and
this Section 2.12(a) (including those set forth in the Restricted Security Legend set forth below), and the Holder of each such Transfer Restricted Security, by such Holder’s acceptance thereof, agrees to be bound by all such restrictions
on transfer. As used in Sections 2.12(a) and 2.12(b), the term “transfer” includes any sale, pledge, transfer or other disposition whatsoever of any Transfer Restricted Security. The Registrar shall not register any transfer of a Transfer
Restricted Security not made in accordance with the restrictions on transfer set forth in this Section 2.12. 
 Subject to
the last two paragraphs of this Section 2.12(a), prior to the date upon which the Company replaces any Transfer Restricted Security with a Security that does not bear the 

  
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Restricted Security Legend (the “Resale Restriction Termination Date,” which shall have a correlative meaning in respect of any Restricted Common Stock) any certificate
evidencing such Security (and all securities issued in exchange therefor or substitution thereof, including Common Stock, if any, issued upon conversion thereof, which shall bear the legend set forth in Section 2.12(b), if applicable) shall
bear a legend in substantially the following form: 
 “THIS SECURITY AND THE CLASS A COMMON STOCK, IF ANY, ISSUABLE UPON CONVERSION OF THIS
SECURITY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT IN ACCORDANCE WITH THE FOLLOWING SENTENCE. BY ITS ACQUISITION
HEREOF OR OF A BENEFICIAL INTEREST HEREIN, THE ACQUIRER: 
 1. REPRESENTS THAT IT AND ANY ACCOUNT FOR WHICH IT IS
ACTING IS A “QUALIFIED INSTITUTIONAL BUYER” (WITHIN THE MEANING OF RULE 144A UNDER THE SECURITIES ACT) AND THAT IT EXERCISES SOLE INVESTMENT DISCRETION WITH RESPECT TO EACH SUCH ACCOUNT, AND 

2. AGREES FOR THE BENEFIT OF TELECOMMUNICATION SYSTEMS, INC. (THE “COMPANY”) THAT IT WILL NOT OFFER, SELL,
PLEDGE OR OTHERWISE TRANSFER THIS SECURITY OR ANY BENEFICIAL INTEREST HEREIN PRIOR TO THE DATE THAT IS THE LATER OF (X) ONE YEAR AFTER THE LAST ORIGINAL ISSUE DATE HEREOF OR SUCH SHORTER PERIOD OF TIME AS PERMITTED BY RULE 144 UNDER THE
SECURITIES ACT OR ANY SUCCESSOR PROVISION THEREUNDER, AND (Y) SUCH LATER DATE, IF ANY, AS MAY BE REQUIRED BY APPLICABLE LAW, EXCEPT: 
 (A) TO THE COMPANY OR ANY OF ITS SUBSIDIARIES, OR 
 (B) PURSUANT TO
A REGISTRATION STATEMENT WHICH HAS BECOME EFFECTIVE UNDER THE SECURITIES ACT, OR 
 (C) TO A QUALIFIED
INSTITUTIONAL BUYER IN COMPLIANCE WITH RULE 144A UNDER THE SECURITIES ACT, OR 
 (D) PURSUANT TO AN EXEMPTION
FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE SECURITIES ACT OR ANY OTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. 
 PRIOR TO THE REGISTRATION OF ANY TRANSFER IN ACCORDANCE WITH CLAUSE (2)(D) ABOVE, THE COMPANY AND THE TRUSTEE RESERVE THE RIGHT TO REQUIRE THE DELIVERY OF SUCH LEGAL OPINIONS, CERTIFICATIONS OR OTHER
EVIDENCE AS MAY REASONABLY BE REQUIRED IN ORDER TO DETERMINE THAT THE PROPOSED TRANSFER IS BEING MADE IN COMPLIANCE WITH THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS. NO REPRESENTATION IS MADE AS TO THE AVAILABILITY OF ANY EXEMPTION FROM
THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.” 

  
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 So long as the Securities are represented by Global Securities that are held by or on behalf
of the Depositary only, the Company may accomplish any delegending of such Securities by: 
 (i) delivering
Securities to the Trustee that do not bear the Restricted Security Legend for authentication, together with a Company Order, Officers’ Certificate and an Opinion of Counsel, and instructing the transfer agent for the Common Stock to remove the
Restricted Stock Legend from the Common Stock issued upon conversion of the Securities; 
 (ii) notifying
Holders of the Securities and Common Stock issued upon conversion of the Securities that the Restricted Security Legend and Restricted Stock Legend have been removed or deemed removed; 

(iii) notifying the Trustee, the transfer agent for the Common Stock and DTC to change the CUSIP number for the
Securities and the Common Stock issued upon conversion of the Securities to the applicable unrestricted CUSIP number; and 
 (iv) complying with any Applicable Procedures for the automatic exchange of a Transfer Restricted Security with a Security that does not bear the Restricted Security Legend; 

whereupon the Restricted Security Legend shall be removed from any Global Securities without further action on the part of Holders. 

Any Security (or security issued in exchange or substitution therefor) as to which the restrictions on transfer shall have expired in
accordance with their terms or that has been transferred, replaced or exchanged on or after the Resale Restriction Termination Date or that has been transferred pursuant to a registration statement that has been declared effective under the
Securities Act may, upon surrender of such Security to the Registrar for exchange in accordance with the provisions of this Section 2.12, be exchanged for a new Security or Securities, of like tenor and aggregate principal amount, which shall
not bear the Restricted Security Legend required by this Section 2.12(a). 
 (b) Every stock certificate representing
Common Stock issued upon conversion of a Transfer Restricted Security that bears or is required under this Section 2.12(b) to bear the Restricted Stock Legend set forth in this Section 2.12(b) (the “Transfer Restricted Common
Stock”) shall be subject to the restrictions on transfer set forth in Section 2.06 and this Section 2.12(b) (including those set forth in the Restricted Stock Legend set forth below), and the Holder of such Common Stock issued
upon conversion of a Transfer Restricted Security, by such Holder’s acceptance thereof, agrees to be bound by all such restrictions on transfer and the further restrictions set forth in Section 2.15. The Company shall not register any
transfer of Common Stock issued upon conversion of such a Transfer Restricted Security not made in accordance with the restrictions on transfer set forth in this Section 2.12. 

  
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 Subject to the last paragraph of this Section 2.12(b) and Section 2.15 with
respect to Common Stock, prior to the Resale Restriction Termination Date, any stock certificate representing Common Stock issued upon conversion of a Transfer Restricted Security shall bear a legend in substantially the following form, unless such
Common Stock has been sold pursuant to a registration statement that has been declared effective under the Securities Act (and which continues to be effective at the time of such issuance) or such Common Stock has been issued upon conversion of
Securities that have been transferred pursuant to a registration statement that has been declared effective under the Securities Act: 

“THIS SECURITY (OR ITS PREDECESSOR) 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 TELECOMMUNICATION SYSTEMS, INC. (THE “COMPANY”) THAT IT WILL NOT OFFER, SELL, PLEDGE OR OTHERWISE TRANSFER THIS SECURITY OR ANY BENEFICIAL INTEREST HEREIN PRIOR TO
THE DATE THAT IS THE LATER OF (X) ONE YEAR AFTER THE LAST ORIGINAL ISSUE DATE OF THE SECURITY IN RESPECT OF THE CONVERSION OF WHICH THIS SECURITY WAS ISSUED OR SUCH SHORTER PERIOD OF TIME AS PERMITTED BY RULE 144 UNDER THE SECURITIES ACT OR ANY
SUCCESSOR PROVISION THEREUNDER, AND (Y) SUCH LATER DATE, IF ANY, AS MAY BE REQUIRED BY APPLICABLE LAW, EXCEPT: 
 (A) TO THE COMPANY OR ANY OF ITS SUBSIDIARIES, OR 
 (B) PURSUANT TO
A REGISTRATION STATEMENT WHICH HAS BECOME EFFECTIVE UNDER THE SECURITIES ACT, OR 
 (C) TO A QUALIFIED
INSTITUTIONAL BUYER IN COMPLIANCE WITH RULE 144A UNDER THE SECURITIES ACT, OR 
 (D) PURSUANT TO AN EXEMPTION
FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE SECURITIES ACT OR ANY OTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. 
 PRIOR TO THE REGISTRATION OF ANY TRANSFER IN ACCORDANCE WITH CLAUSE (2)(D) ABOVE, THE COMPANY AND THE TRANSFER AGENT RESERVE THE RIGHT TO REQUIRE THE DELIVERY OF SUCH

  
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LEGAL OPINIONS, CERTIFICATIONS OR OTHER EVIDENCE AS MAY REASONABLY BE REQUIRED IN ORDER TO DETERMINE THAT THE PROPOSED TRANSFER IS BEING MADE IN COMPLIANCE WITH THE SECURITIES ACT AND APPLICABLE
STATE SECURITIES LAWS. NO REPRESENTATION IS MADE AS TO THE AVAILABILITY OF ANY EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.” 
 Any stock certificate (or security issued in exchange or substitution therefor) as to which such restrictions on transfer shall have expired in accordance with their terms or that has been transferred,
replaced or exchanged on or after the Resale Restriction Termination Date or that has been transferred pursuant to a registration statement that has been declared effective under the Securities Act may, upon surrender of such stock certificate to
the transfer agent for the Common Stock for exchange in accordance with the provisions of this Section 2.12 and Section 2.15, be exchanged for a new stock certificate, of like tenor and aggregate number of shares, which shall not bear the
Restricted Stock Legend required by this Section 2.12(b). 
 (c) Any Security or Common Stock issued upon the conversion or
exchange of a Security that, prior to the date upon which the Company instructs the Trustee to remove the Restricted Security Legend, is purchased or owned by the Company or any Affiliate thereof may not be resold by the Company or such Affiliate
unless registered under the Securities Act or resold pursuant to an exemption from the registration requirements of the Securities Act in a transaction that results in such Security or Common Stock, as the case may be, no longer being
“restricted securities” (as defined under Rule 144). 
 (d) Notwithstanding any provision of Section 2.06 and
Section 2.12 to the contrary, in the event Rule 144(d) as promulgated under the Securities Act (or any successor rule) is amended to change the one-year period under Rule 144(d) (or the corresponding period under any successor rule), from and
after receipt by the Trustee of the Officers’ Certificate and Opinion of Counsel provided for in this Section 2.12(d), (i) each reference in Section 2.12(a) to “one year” and in the Restricted Security Legend set forth
in such paragraph to “ONE YEAR” shall be deemed for all purposes hereof to be references to such changed period, (ii) each reference in Section 2.12(b) to “one year” and in the Restricted Stock Legend set forth in such
paragraph to “ONE YEAR” shall be deemed for all purposes hereof to be references to such changed period and (iii) all corresponding references in the Security (including the definition of Resale Restriction Termination Date) and the
Restricted Security Legend thereon shall be deemed for all purposes hereof to be references to such changed period, provided that such changes shall not become effective if they are otherwise prohibited by, or would otherwise cause a
violation of, the then-applicable federal securities laws. The provisions of this Section 2.12(d) shall not be effective until such time as the Opinion of Counsel and Officers’ Certificate have been received by the Trustee hereunder. This
Section 2.12(d) shall apply to successive amendments to Rule 144(d) (or any successor rule) changing the holding period thereunder. 
 (e) A Global Security may not be transferred, in whole or in part, to any Person other than the Depositary or a nominee or any successor thereof, and no such transfer to any such other Person may be
registered; provided that the foregoing shall not prohibit any transfer of a Security that is issued in exchange for a Global Security but is not itself a Global Security. No transfer of

  
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a Security to any Person shall be effective under this Indenture or the Securities unless and until such Security has been registered in the name of such Person. Notwithstanding any other
provisions of this Indenture or the Securities, transfers of a Global Security, in whole or in part, shall be made only in accordance with this Section 2.12. 
 (f) The provisions of clauses (i), (ii), (iii) and (iv) below shall apply only to Global Securities: 
 (i) Notwithstanding any other provisions of this Indenture or the Securities, a Global Security shall not be exchanged in whole or in part for a Security registered in the name of any Person other than
the Depositary or one or more nominees thereof; provided that a Global Security may be exchanged for Securities registered in the names of any person designated by the Depositary in the event that (A) the Depositary has notified the
Company that it is unwilling or unable to continue as Depositary for such Global Security or such Depositary has ceased to be a “clearing agency” registered under the Exchange Act, and a successor Depositary is not appointed by the Company
within 90 days or (B) an Event of Default has occurred and is continuing with respect to the Securities. Any Global Security exchanged pursuant to clause (A) shall be so exchanged in whole and not in part, and any Global Security exchanged
pursuant to clause (B) above may be exchanged in whole or from time to time in part as directed by the Depositary. Any Security issued in exchange for a Global Security or any portion thereof shall be a Global Security; provided that any
such Security so issued that is registered in the name of a Person other than the Depositary or a nominee thereof shall not be a Global Security. 
 (ii) Securities issued in exchange for a Global Security or any portion thereof shall be issued in definitive, fully registered form, without interest coupons, shall have an aggregate principal amount
equal to that of such Global Security or portion thereof to be so exchanged, shall be registered in such names and be in such authorized denominations as the Depositary shall designate and shall bear the applicable legends provided for
herein. Any Global Security to be exchanged in whole shall be surrendered by the Depositary to the Trustee, as Registrar. With regard to any Global Security to be exchanged in part, either such Global Security shall be so surrendered for
exchange or, if the Trustee is acting as custodian for the Depositary or its nominee with respect to such Global Security, the principal amount thereof shall be reduced by an amount equal to the portion thereof to be so exchanged, by means of an
appropriate adjustment made on the records of the Trustee. Upon any such surrender or adjustment, the Trustee shall authenticate and deliver the Security issuable on such exchange to or upon the order of the Depositary or an authorized
representative thereof. 
 (iii) The registered Holder may grant proxies and otherwise authorize any Person,
including Agent Members and persons that may hold interests through Agent Members, to take any action which a Holder is entitled to take under this Indenture or the Securities. 

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

  
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 Section 2.13. CUSIP Numbers. 

The Company in issuing the Securities may use one or more “CUSIP” numbers (if then generally in use), and, if so, the Trustee
shall use “CUSIP” numbers in notices as a convenience to Holders; provided that any such notice may state that no representation is made as to the correctness of such numbers either as printed on the Securities or as contained in
any notice and that reliance may be placed only on the other identification numbers printed on the Securities, and any such notice shall not be affected by any defect in or omission of such numbers. The Company shall promptly notify the Trustee
in writing of any change in the “CUSIP” number. 
 Section 2.14. Ranking. 

The obligations of the Company arising under or in connection with this Indenture and every outstanding Security issued under this
Indenture from time to time constitute and shall constitute an unsecured general obligation of the Company (unless otherwise provided after the date hereof in accordance with Section 12.02), ranking equal in right of payment to all other
existing and future senior unsecured and unsubordinated indebtedness of the Company and ranking senior in right of payment to any future indebtedness of the Company that is expressly made subordinate to the Securities by the terms of such
indebtedness. 
 Section 2.15. Issuance, Transfer and Exchange of Common Stock Issuable Upon Conversion of the
Securities. 
 If (i) shares of Common Stock to be issued upon conversion of Securities bearing the Restricted Security
Legend are to be registered in a name other than that of the Holder of such Securities or (ii) shares of Common Stock represented by a certificate bearing the Restricted Stock Legend are transferred subsequently by such Holder, then the Holder
must deliver to the transfer agent for the Common Stock and to the Company a certificate in substantially the form of Exhibit B as to compliance with the restrictions on transfer applicable to such shares of Common Stock and neither the
transfer agent nor the registrar for the Common Stock shall be required to register any transfer of such Common Stock not so accompanied by a properly completed certificate. 
 Section 2.16. Additional Securities. 
 (a) The Company may, from time
to time without the consent of the Holders of outstanding Securities, increase the aggregate principal amount of the Securities by issuing additional Securities in the future pursuant to this Indenture (“Additional Securities”) having
terms and conditions identical to those of the other outstanding Securities, other than with respect to (i) the issue date, (ii) the issue price, (iii) the initial date from which interest begins to accrue and (iv) if applicable,
the existence of “transfer” (as such term is used in Section 2.12) restrictions pursuant to the Securities Act; provided that no Additional Securities may be issued with the same “CUSIP”, number as the Securities
issued on the Initial Issue Date unless it is so permitted in accordance with applicable law and such Additional Securities are fungible with the Securities issued on the Initial Issue Date for U.S. federal tax purposes. The Securities issued on the
Initial Issue Date and any Additional Securities shall be treated as a single class for all purposes under this Indenture, including, without limitation, waivers, amendments, offers to purchase and U.S. federal income tax purposes. No Additional
Securities may be issued if on the issue date therefor any Event of Default has occurred and is continuing. 

  
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 (b) With respect to any Additional Securities, the Company shall set forth in an
Officers’ Certificate pursuant to a resolution of the Board of Directors of the Company, copies of which shall be delivered to the Trustee, the following information: 

(i) the aggregate principal amount of such Additional Securities to be authenticated and delivered pursuant to this
Indenture; 
 (ii) the issue date and the issue price of such Additional Securities; 

(iii) whether such Additional Securities will be subject to transfer restrictions under the Securities Act (or other
applicable securities laws). 
 In addition, the Company shall deliver to the Trustee the documents required by Section 2.02 for such
Additional Securities and any related supplemental indenture for the authentication by the Trustee of such Additional Securities. 
 Section 2.17. Additional Interest. 
 The Company may be obligated to
pay Additional Interest to Holders, as and to the extent set forth in accordance with Section 7.10 and Section 9.02(b) hereof. Any Additional Interest is deemed to be interest for purposes of this Indenture. The Trustee has no duty to
determine when Additional Interest under Section 7.10 or Section 9.02(b) hereof should be paid. 
 Section 2.18.
Calculations in Respect of Securities. 
 Except to the extent provided herein and therein, the Company will be
responsible for making all calculations called for under the Indenture and the Securities. These calculations include, but are not limited to, determinations of the Closing Sale Price of the Common Stock, adjustments to the Conversion Price, any
accrued interest payable on the Securities, the Redemption Price, the Fundamental Change Purchase Price, the Conversion Price and the Conversion Rate. The Company will make these calculations in good faith and, absent manifest error, the
calculations will be final and binding on Holders of the Securities. The Company will provide to each of the Trustee and the Conversion Agent a schedule of its calculations, and the Trustee and the Conversion Agent are entitled to rely conclusively
upon the accuracy of such calculations without independent verification. The Trustee will forward the Company’s calculations to any Holder of the Securities upon the request of such Holder. 

  
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 ARTICLE 3 
 PURCHASES OF SECURITIES UPON FUNDAMENTAL CHANGE 
 Section 3.01.
Purchase of Securities at Option of the Holder Upon Fundamental Change. 
 (a) If at any time that Securities remain
outstanding there shall occur a Fundamental Change, Securities shall be purchased by the Company at the option of the Holders, as of a date, determined by the Company in its sole discretion, that is not less than 20 Business Days and not more than
35 Business Days after the occurrence of the Fundamental Change (the “Fundamental Change Purchase Date”) at the applicable purchase price (expressed as a percentage of the principal amount of the Securities to be purchased) set
forth below, if such Fundamental Change Purchase Date occurs during the twelve-month period beginning on June 30 of the years indicated below (or, with respect to 2013, the period beginning on the Initial Issue Date and ending on June 29,
2014), together with any accrued and unpaid interest to, but excluding, the Fundamental Change Purchase Date (the “Fundamental Change Purchase Price”); unless the Fundamental Change Purchase Date is after a Record Date and on or
prior to the related Interest Payment Date, in which case interest accrued to the Interest Payment Date will be paid to Holders of the Securities as of the preceding Record Date and the Fundamental Change Purchase Price payable to any Holder
surrendering such Holder’s Security for purchase pursuant to this Article 3 shall be equal to the principal amount of Securities subject to purchase and will not include any accrued and unpaid interest. 

 

					
	 Year
	  	Percentage	 
	 2013
	  	 	103	% 
	 2014
	  	 	103	% 
	 2015
	  	 	102	% 
	 2016
	  	 	101	% 
	 2017
	  	 	100	% 

 The Fundamental Change Purchase Price shall be payable in Cash, subject to satisfaction by or on behalf
of any Holder of the requirements set forth in subsection (c) of this Section 3.01. 
 A “Fundamental
Change” shall mean the occurrence of a Change in Control or a Termination of Trading. 
 A “Change in
Control” shall be deemed to have occurred if any of the following occurs after the date hereof: 
 (i)
any “person” or “group” (as such terms are defined below) is or becomes the “beneficial owner” (as defined below), directly or indirectly, of shares of Voting Stock of the Company representing 50% or more of the total
voting power of all outstanding classes of Voting Stock of the Company or has the power, directly or indirectly, to elect a majority of the members of the Board of Directors; or 

(ii) the Company consolidates with, enters into a binding share exchange with, or merges with or into, another Person or
the Company sells, assigns, conveys, transfers, leases or otherwise disposes of all or substantially all of the assets of the Company, or any Person consolidates with, or merges with or into, the Company, in any such event other than pursuant to a
transaction (A) in which the Persons that “beneficially owned”, 

  
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directly or indirectly, shares of Voting Stock of the Company immediately prior to such transaction “beneficially own”, directly or indirectly, shares of Voting Stock representing at
least a majority of the total voting power of all outstanding classes of Voting Stock of the surviving or transferee Person, with such Holders’ proportional voting power immediately after such transaction vis-à-vis each other with
respect to the securities they receive in such transaction being in substantially the same proportions as their respective voting power vis-à-vis each other immediately prior to such transaction, or (B) which is effected solely to change
the jurisdiction of incorporation of the Company and results in a reclassification, conversion or exchange of outstanding shares of Common Stock solely into shares of common stock of the surviving Person; or; 

(iii) the holders of the Capital Stock of the Company approve any plan or proposal for the liquidation or dissolution of
the Company (whether or not otherwise in compliance with the terms hereof). 
 For the purpose of the definition of
“Change in Control”, (i) “person” and “group” have the meanings given such terms under Section 13(d) and 14(d) of the Exchange Act or any successor provision to either of the
foregoing, and the term “group” includes any group acting for the purpose of acquiring, holding, voting or disposing of securities within the meaning of Rule 13d-5(b)(1) under the Exchange Act (or any successor provision
thereto), (ii) a “beneficial owner” shall be determined in accordance with Rule 13d-3 under the Exchange Act, as in effect on the date of this Indenture, except that the number of shares of Voting Stock of the Company
shall be deemed to include, in addition to all outstanding shares of Voting Stock of the Company and Unissued Shares deemed to be held by the “person” or “group” (as such terms are defined above) or other Person with respect to
which the Change in Control determination is being made, all Unissued Shares deemed to be held by all other Persons, and (iii) the terms “beneficially owned” and “beneficially own” shall have meanings
correlative to that of “beneficial owner”. The term “Unissued Shares” means shares of Voting Stock not outstanding that are subject to options, warrants, rights to purchase or conversion privileges exercisable within
60 days of the date of determination of a Change in Control. 
 Notwithstanding anything to the contrary set forth in this
Section 3.01, Holders shall not have the right to require the Company to purchase any Securities in the event of a Change in Control resulting from the occurrence of an event described in clauses (i) and (ii) of the definition of such
term, and the Company shall not be required to deliver a written notice of a Fundamental Change incidental thereto as a result of any acquisition, consolidation, merger or binding share exchange or a sale, assignment, conveyance, transfer, lease or
other disposition if at least 90% of the consideration paid for the Common Stock (excluding cash payments for fractional shares and cash payments pursuant to dissenters’ appraisal rights) in such transaction or transactions consists of shares
of common stock that are traded on the New York Stock Exchange, The NASDAQ Global Select Market or The NASDAQ Global Market (or any of their respective successors) or which will be so traded immediately following such transaction or transactions and
as a result of such transaction or transactions the Securities become convertible into such shares of such common stock. 
 A
“Termination of Trading” means that the Common Stock or other securities into which the Securities are convertible are not approved for listing on the New York Stock Exchange, the NASDAQ Global Select Market or the NASDAQ Global
Market (or any of their respective successors). 

  
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 If any transaction in which the Common Stock is replaced by the securities of another entity
occurs, following any related Fundamental Change Purchase Date, references to the Company in the definitions of “Fundamental Change,” “Change in Control” and “Termination of Trading” above shall apply to such other
entity instead. 
 (b) Within 10 Business Days after the occurrence of a Fundamental Change, the Company shall mail or deliver
electronically pursuant to Applicable Procedures a written notice of the Fundamental Change to the Trustee and to each Holder. The Company shall also issue a press release announcing the occurrence of such Fundamental Change (and make such press
release available on the Company’s website). The notice shall include the form of a Fundamental Change Purchase Notice to be completed by the Holder and shall state: 

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

(ii) the Effective Date of the Fundamental Change; 

(iii) information about the Holders’ right to convert the Securities; 

(iv) information about the Holders’ right to require the Company to purchase the Securities; 

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

(vi) the Fundamental Change Purchase Date; 

(vii) the Fundamental Change Purchase Price; 

(viii) the date by which the Fundamental Change Purchase Notice pursuant to this Section 3.01 must be given;

 (ix) the Conversion Price and any adjustments thereto; 

(x) the procedures that the Holder must follow to exercise rights under this Section 3.01; 

(xi) the procedures for withdrawing a Fundamental Change Purchase Notice, including a form of notice of withdrawal;

 (xii) the name and address of each Paying Agent and Conversion Agent; and 

(xiii) that the Holder must satisfy the requirements set forth in the Indenture and the Securities in order to convert
the Securities. 

  
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 If any of the Securities is in the form of a Global Security, then the Company shall modify
such notice to the extent necessary to accord with the procedures of the Depositary applicable to the repurchase of Global Securities. 
 (c) A Holder may exercise its rights specified in subsection (a) of this Section 3.01 upon delivery of a written notice (which shall be in substantially the form included in
Exhibit A hereto and which may be delivered by letter, overnight courier, hand delivery, facsimile transmission or in any other manner reasonably acceptable to the Paying Agent and, in the case of Global Securities, may be delivered
electronically or by other means in accordance with the Depositary’s customary procedures) of the exercise of such rights (a “Fundamental Change Purchase Notice”) to any Paying Agent during the period between the mailing of the
Fundamental Change Purchase Notice and the close of business on the second Scheduled Trading Day immediately preceding the Fundamental Change Purchase Date. 
 The delivery of such Security to any Paying Agent (together with all necessary endorsements) at the office of such Paying Agent shall be a condition to the receipt by the Holder of the Fundamental Change
Purchase Price therefor. 
 The Company shall purchase from the Holder thereof, pursuant to this Section 3.01, a portion of
a Security if the principal amount of such portion is $1,000 or an integral multiple of $1,000. Provisions of the Indenture that apply to the purchase of all of a Security pursuant to Section 3.01 through Section 3.04 also apply to
the purchase of such portion of such Security. 
 Notwithstanding anything herein to the contrary, any Holder delivering to a
Paying Agent the Fundamental Change Purchase Notice contemplated by this subsection (c) shall have the right to withdraw such Fundamental Change Purchase Notice in whole or in a portion thereof that is a principal amount of $1,000 or in an
integral multiple thereof at any time prior to 5:00 p.m. (New York City time) on the second Scheduled Trading Day immediately preceding the Fundamental Change Purchase Date by delivery of a written notice of withdrawal to the Paying Agent in
accordance with Section 3.02. 
 A Paying Agent shall promptly notify the Company of the receipt by it of any Fundamental
Change Purchase Notice or written withdrawal thereof. 
 Anything herein to the contrary notwithstanding, in the case of Global
Securities, any Fundamental Change Purchase Notice may be delivered or withdrawn and such Securities may be surrendered or delivered for purchase in accordance with the Applicable Procedures as in effect from time to time. 

Section 3.02. Effect of Fundamental Change Purchase Notice. 

Upon receipt by any Paying Agent of the Fundamental Change Purchase Notice specified in Section 3.01(c), the Holder of the Security
in respect of which such Fundamental Change Purchase Notice was given shall (unless such Fundamental Change Purchase Notice is withdrawn as specified below) thereafter be entitled to receive the Fundamental Change Purchase Price with respect to such
Security. Such Fundamental Change Purchase Price shall be paid to such Holder promptly following the later of (a) the Fundamental Change Purchase Date 

  
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with respect to such Security (provided the conditions in Section 3.01(c) have been satisfied) and (b) the time of delivery of such Security to a Paying Agent by the Holder thereof
in the manner required by Section 3.01(c). Securities in respect of which a Fundamental Change Purchase Notice has been given by the Holder thereof may not be converted into shares of Common Stock pursuant to Article 5 on or after the
date of the delivery of such Fundamental Change Purchase Notice unless such Fundamental Change Purchase Notice has first been validly withdrawn. 
 A Fundamental Change Purchase Notice may be withdrawn by means of a written notice (which may be delivered by mail, overnight courier, hand delivery, facsimile transmission or in any other manner
reasonably acceptable to the Paying Agent and, in the case of Global Securities, may be delivered electronically or by other means in accordance with the Depositary’s customary procedures) of withdrawal delivered by the Holder to a Paying Agent
at any time prior to 5:00 p.m. (New York City time) on the second Scheduled Trading Day immediately preceding the Fundamental Change Purchase Date, specifying the principal amount of the Security or portion thereof (which must be a principal
amount of $1,000 or an integral multiple of $1,000 in excess thereof) with respect to which such notice of withdrawal is being submitted. 
 Section 3.03. Deposit of Fundamental Change Purchase Price. 
 On or
before 11:00 a.m. (New York City time) on the Fundamental Change Purchase Date, the Company shall deposit with the Trustee or with a Paying Agent (other than the Company or an Affiliate of the Company) an amount of money (in immediately
available funds if deposited on such Fundamental Change Purchase Date) sufficient to pay the aggregate Fundamental Change Purchase Price of all the Securities or portions thereof that are to be purchased as of such Fundamental Change Purchase
Date. The manner in which the deposit required by this Section 3.03 is made by the Company shall be at the option of the Company; provided that such deposit shall be made in a manner reasonably acceptable to the Trustee and the
Paying Agent such that the Trustee or a Paying Agent shall have immediately available funds on the Fundamental Change Purchase Date. 
 If a Paying Agent holds, in accordance with the terms hereof, money sufficient to pay the Fundamental Change Purchase Price of any Security for which a Fundamental Change Purchase Notice has been tendered
and not withdrawn in accordance with this Indenture, then, on the Fundamental Change Purchase Date, such Security shall cease to be outstanding, interest shall cease to accrue thereon and the rights of the Holder in respect thereof shall terminate
(other than the right to receive the Fundamental Change Purchase Price as aforesaid). The Company shall publicly announce the principal amount of Securities purchased as a result of such Fundamental Change on or as soon as practicable after the
Fundamental Change Purchase Date. 
 To the extent that the aggregate amount of Cash deposited by the Company pursuant to this
Section 3.03 exceeds the aggregate Fundamental Change Purchase Price of the Securities or portions thereof that the Company is obligated to purchase, then promptly after the Fundamental Change Purchase Date the Trustee or a Paying Agent, as the
case may be, shall return any such excess Cash to the Company. 

  
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 Section 3.04. Securities Purchased in Part. 

Any Security that is to be purchased only in part shall be surrendered at the office of a Paying Agent and, promptly after the
Fundamental Change Purchase Date, the Company shall execute and the Trustee shall authenticate and deliver to the Holder of such Security, without service charge, a new Security or Securities, of such authorized denomination or denominations as may
be requested by such Holder, in aggregate principal amount equal to, and in exchange for, the portion of the principal amount of the Security so surrendered that is not purchased. 

Section 3.05. Compliance with Securities Laws Upon Purchase of Securities. 

In connection with any offer to purchase Securities under Section 3.01, the Company shall (a) comply with the applicable
provisions of Rule 13e-4, Rule 14e-1 and any other tender offer rules under the Exchange Act, (b) file the related Schedule TO (or any successor or similar schedule, form or report), if required, under the Exchange Act and
(c) otherwise comply with all federal and state securities laws in connection with such offer to purchase or repurchase Securities, all so as to permit the rights of the Holders and obligations of the Company under Section 3.01 through
Section 3.04 to be exercised in the time and in the manner specified therein. 
 Section 3.06. No Fundamental
Change Repurchase Following Acceleration. 
 No Securities shall be purchased by the Company under Section 3.01 if the
principal amount of the Securities has been accelerated under Section 9.02, and such acceleration has not been rescinded, on or prior to the Fundamental Change Purchase Date. 

Section 3.07. Trustee’s Fundamental Change Purchase Disclaimer. 

The Trustee has no duty to determine when a Fundamental Change has occurred, or when purchases of Securities upon a Fundamental Change
under Article 3 should be made. The Trustee shall not be accountable for and makes no representation as to the Fundamental Change Purchase Price payable in respect of any Fundamental Change. The Trustee shall not be responsible for the
Company’s failure to comply with this Article 3. 
 ARTICLE 4 

PAYMENT OF INTEREST 
 Section 4.01. Interest Payments. 
 (a) The Company shall pay interest
on the Securities at a rate of 7.75% per annum, payable semi-annually in arrears on June 30 and December 30 of each year (each, an “Interest Payment Date”), or if any such day is not a Business Day, the immediately
following Business Day, commencing December 30, 2013. Interest on a Security shall be paid to the Holder of such Security at the close of business on June 15 or December 15 (each, a “Record Date”), as the case may be,
next preceding the related Interest Payment Date, and shall be computed on the basis of a 360-day year comprised of twelve 30-day months. In the event of the maturity, conversion, purchase of a Security by the Company at the option of the
Holder or redemption of a Security pursuant to Article 6 hereof, interest shall cease to accrue on such Security unless the 

  
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Company defaults on such payment at maturity, conversion, purchase or redemption, as appropriate. Notwithstanding any other provision of this Indenture, however, the Company shall pay interest on
the Maturity Date to Holders on the Record Date immediately preceding the Maturity Date in respect of the period ending with the Maturity Date regardless of whether such Holders convert their Securities. 

(b) Upon conversion of a Security, (i) a Holder shall not receive any Cash payment of interest (unless such Holder is the Holder on
a Record Date and such conversion occurs between such Record Date and the Interest Payment Date to which it relates, in which case a Holder on the Record Date shall receive on the Interest Payment Date accrued and unpaid interest) and the Conversion
Rate shall not be adjusted to account for accrued and unpaid interest and (ii) except as set forth in clause (c) below, the Company’s delivery to a Holder of Common Stock and (in the case of fractional shares) Cash in settlement of
the Conversion Obligation as set forth in Section 5.03 shall be deemed to satisfy its obligation with respect to such Security, and any accrued but unpaid interest shall be deemed to be paid in full upon conversion, rather than cancelled,
extinguished or forfeited. 
 (c) Securities surrendered for conversion by a Holder after the close of business on any Record
Date but prior to the next Interest Payment Date must be accompanied by payment of an amount equal to the interest that shall be payable on the Securities; provided, however, that no such payment need be made (1) if the Company
has specified a Fundamental Change Purchase Date that is after a Record Date and on or prior to the next Interest Payment Date, (2) if the Company has specified a Redemption Date that is after a Record Date and on or prior to the next Interest
Payment Date, (3) with respect to any Securities surrendered for conversion following the Record Date for the payment of interest immediately preceding the Maturity Date or (4) only to the extent of overdue interest, if any overdue
interest exists at the time of conversion with respect to such Securities. 
 (d) If the Company defaults in a payment of
interest on the Securities, it shall pay the defaulted interest in any lawful manner plus, to the extent lawful, interest payable on the defaulted interest, to the Persons who are Holders on a subsequent special record date, in each case at the rate
provided in the Securities. The Company shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Security and the date of the proposed payment. The Company shall fix or cause to be fixed each such special
record date and payment date, provided that no such special record date shall be less than 10 days prior to the related payment date for such defaulted interest. At least 15 days before the special record date, the Company (or, upon the written
request of the Company, the Trustee in the name and at the expense of the Company) shall mail or cause to be mailed (or cause to be sent pursuant to Applicable Procedures) to Holders a notice that states the special record date, the related payment
date and the amount of such interest to be paid. 

  
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 ARTICLE 5 
 CONVERSION 
 Section 5.01. Conversion Privilege. 

(a) Subject to the further provisions of this Article 5 and paragraph 7 of the Securities, a Holder may surrender a Security for
conversion at any time prior to the close of business on the second Scheduled Trading Date immediately preceding the Maturity Date. 
 (b) A Security in respect of which a Holder has delivered a Fundamental Change Purchase Notice pursuant to Section 3.01(c) exercising the option of such Holder to require the Company to purchase
such Security may be converted only if such Fundamental Change Purchase Notice is withdrawn by a written notice of withdrawal delivered to a Paying Agent prior to 5:00 p.m. (New York City time) on the second Scheduled Trading Day immediately
preceding the Fundamental Change Purchase Date in accordance with Section 3.02. 
 (c) Securities may be surrendered for
conversion only in principal amounts that are integral multiples of $1,000. 
 Section 5.02. Conversion Procedure.

 (a) The right to convert any Security may be exercised only if such Holder shall (i) in the case of a Global Security,
comply with the Applicable Procedures of the Depositary in effect at that time and, if required, pay funds equal to interest payable on the next Interest Payment Date to which such Holder is not entitled as set forth in Section 4.01(c) and, if
required, all transfer or similar taxes, if any, and (ii) in the case of a Certificated Security, (1) complete and manually sign and deliver an irrevocable notice to the Conversion Agent in the form on the reverse of such Certificated
Security (or a facsimile thereof) (included in Exhibit A hereto) (a “Notice of Conversion”) at the office of the Conversion Agent and state in writing therein the principal amount of Securities to be converted and the name or names
(with addresses) in which such Holder wishes the certificate or certificates for any shares of Common Stock, if any, to be delivered upon settlement of the Conversion Obligation to be registered, (2) surrender such Securities, duly endorsed to
the Company or in blank (and accompanied by appropriate endorsement and transfer documents), at the office of the Conversion Agent, (3) if required, pay funds equal to interest payable on the next Interest Payment Date to which such Holder is
not entitled as set forth in Section 4.01(c), (4) if required, furnish appropriate endorsements and transfer documents, and (5) if required, pay all transfer or similar taxes, if any, as set forth in Section 5.04. The Trustee
(and if different, the relevant Conversion Agent) shall notify the Company of any conversion pursuant to this Article 5 on the date of such conversion. No Notice of Conversion with respect to any Securities may be surrendered by a Holder thereof if
such Holder has also delivered a Fundamental Change Purchase Notice to the Company in respect of such Securities and has not validly withdrawn such Fundamental Change Purchase Notice in accordance with Article 3. If a Security is called for
redemption pursuant to Article 6, the right to convert such Security shall terminate at the close of business on the second Business Day prior to the Redemption Date for such Security (unless the Company shall default in paying the Redemption Price
then due, in which case the right to convert such Security shall terminate on the date such Default is cured and such Security is redeemed). 
 If more than one Security shall be surrendered for conversion at one time by the same Holder, the Conversion Obligation with respect to such Securities, if any, that shall be payable upon conversion shall
be computed on the basis of the aggregate principal amount of the Securities (or specified portions thereof to the extent permitted thereby) so surrendered. 

  
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 (b) A Security shall be deemed to have been converted (the “Conversion
Date”) immediately prior to the close of business on the date that the Holder has complied with the requirements set forth in Section 5.02(a), if such requirements are satisfied by 11:00 a.m. (New York City time) on that date, or
immediately prior to the close of business on the next succeeding Business Day if such requirements are satisfied after 11:00 a.m. (New York City time) on that date. 
 (c) The Company shall cause the Holder of such Securities on the Conversion Date to become the holder of record of the deliverable number of shares of Common Stock constituting the Conversion Obligation
on the Conversion Date. The Company shall issue or cause to be issued, and deliver to the Conversion Agent or to such Holder, or such Holder’s nominee or nominees, certificates or a book-entry transfer through the Depositary for the number of
full shares of Common Stock to which such Holder shall be entitled in satisfaction of such Conversion Obligation. 
 (d) In case
any Security shall be surrendered for partial conversion, the Company shall execute and the Trustee shall authenticate and deliver to or upon the written order of the Holder of the Security so surrendered, without charge to such Holder, a new
Security or Securities in authorized denominations in an aggregate principal amount equal to the unconverted portion of the surrendered Security. 
 (e) Except as provided in Section 5.06, no adjustment shall be made for dividends on any shares issued upon the conversion of any Security as provided in this Article. 

(f) Upon the conversion of an interest in a Global Security, the Trustee, or the Custodian at the direction of the Trustee, shall make a
notation on such Global Security as to the reduction in the principal amount represented thereby. The Company shall notify the Trustee in writing of any conversion of Securities effected through any Conversion Agent other than the Trustee.

 (g) The Person in whose name the certificate for any shares of Common Stock delivered upon conversion is registered shall be
treated as a stockholder of record as of the close of business on the relevant Conversion Date. 
 Section 5.03.
Fractional Shares. 
 The Company shall not issue fractional shares of Common Stock upon conversion of
Securities. In lieu thereof, the Company shall deliver Cash equal to the remainder multiplied by the Closing Sale Price of Common Stock on the relevant Conversion Date. 
 Section 5.04. Taxes on Conversion. 
 If a Holder converts a Security,
the Company shall pay any documentary, stamp or similar issue or transfer tax due on the issue of shares of Common Stock upon such conversion. However, the Holder shall pay any such tax which is due because the Holder

  
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– 

 
requests the shares to be issued in a name other than the Holder’s name. The Conversion Agent may refuse to deliver the certificate representing the Common Stock being issued in a name
other than the Holder’s name until the Conversion Agent receives a sum sufficient to pay any tax which shall be due because the shares are to be issued in a name other than the Holder’s name. Nothing herein shall preclude any tax
withholding required by law or regulation. 
 Section 5.05. Issuance of Common Stock Upon Conversion. 

(a) Subject to Section 5.02, upon any conversion of any Security, the Company shall deliver to converting Holders on the third
Business Day immediately following the relevant Conversion Date (unless such Conversion Date occurs on or following March 30, 2018, in which case the Company shall make such delivery on the Maturity Date), in respect of each $1,000 principal
amount of Securities being converted, the number of shares of Common Stock (the “Conversion Obligation”) equal to the then applicable Conversion Rate. The Company shall also deliver to each converting Holder of the Securities Cash
in lieu of fractional shares of Common Stock as set forth pursuant to Section 5.03. 
 (b) The Company shall, prior to the
issuance of any Securities hereunder, and from time to time as may be necessary, reserve at all times and keep available, free from preemptive rights, out of its authorized but unissued Common Stock, a sufficient number of shares of Common Stock
deliverable upon conversion of all of the Securities. 
 (c) All shares of Common Stock that may be issued upon conversion of
the Securities shall be duly authorized, validly issued, fully paid and nonassessable and shall be free of any preemptive rights and free of any lien or adverse claim. 
 (d) The Company shall endeavor to comply with all applicable securities laws regulating the offer and delivery of any Common Stock upon conversion of Securities and shall list or cause to have quoted such
shares of Common Stock on each national or regional securities exchange or other over-the-counter market or such other market on which the Common Stock is then listed or quoted; provided, however, that, if the rules of such
automated quotation system or exchange permit the Company to defer the listing of such Common Stock until the first conversion of the Securities into Common Stock in accordance with the provisions of this Indenture, the Company covenants to list
such Common Stock issuable upon conversion of the Securities in accordance with the requirements of such automated quotation system or exchange at such time. Any Common Stock issued upon conversion of a Security hereunder which at the time of
conversion was a Transfer Restricted Security shall also be a Transfer Restricted Security. 
 (e) Notwithstanding anything
herein to the contrary, nothing herein shall give to any Holder any rights as a creditor in respect of its right to conversion. 

  
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– 

 Section 5.06. Adjustment of Conversion Price. 

The conversion price as stated in paragraph 7 of the Securities (the “Conversion Price”) shall be adjusted from time to
time by the Company as follows: 
 (a) If the Company issues solely shares of Common Stock as a dividend or distribution on all
or substantially all of the shares Common Stock, or if the Company subdivides or combine outstanding shares of Common Stock, the Conversion Price will be adjusted based on the following formula: 

 

							
		 	CP = CP0 ×	  	 OS0
	  	
	 	  	OS	  	

 where, 

CP0 = the conversion price in effect immediately prior to the open of business on the Ex-Dividend Date for such dividend or
distribution, or immediately prior to the open of business on the effective date of such subdivision or combination of Common Stock, as the case may be; 
 CP = the Conversion Price in effect immediately after the open of business on the Ex-Dividend Date for such dividend or distribution, or immediately after the open of business on the effective date of
such subdivision or combination of Common Stock, as the case may be; 
 OS0 = the number of shares of Common Stock outstanding immediately prior to
the open of business on the Ex-Dividend Date for such dividend or distribution, or immediately prior to the open of business on the effective date of such subdivision or combination of Common Stock, as the case may be; and 

OS = the number of shares of Common Stock outstanding immediately after such dividend or distribution, or immediately
after the effective date of such subdivision or combination of Common Stock, as the case may be. 
 Such adjustment shall become
effective immediately after the opening of business on the Ex-Dividend Date for such dividend or distribution or the effective date for such subdivision or combination of Common Stock. If any dividend or distribution of the type described in
this Section 5.06(a) is declared but not so paid or made, or the outstanding shares of Common Stock are not split or combined, as the case may be, the Conversion Price shall be immediately readjusted, effective as of the date the Board of
Directors determines not to pay such dividend or distribution, or subdivide or combine the outstanding shares of Common Stock, as the case may be, to the Conversion Price that would then be in effect if such dividend, distribution, subdivision or
combination of Common Stock had not been declared or announced. 
 (b) If the Company distributes to all or substantially all
holders of Common Stock any rights, options or warrants entitling them for a period of not more than 60 calendar days from the record date for such distribution to subscribe for or purchase shares of the Common Stock (or securities convertible into
Common Stock), at a price per share (or a conversion price per share) less than the average of the Closing Sale Prices for the 10 consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the Ex-Dividend Date for
such distribution, the Conversion Price will be decreased based on the following formula: 
  

							
		  	CP = CP0 ×	  	 OS0 + Y
	  	
	  	  	OS0 + X	  	

  
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– 

 where, 

CP0 = the Conversion Price in effect immediately prior to the open of business on the Ex-Dividend Date for such distribution;

 CP = the Conversion Price in effect immediately after the open of business on the Ex-Dividend Date for such
distribution; 
 OS0 = the number of shares of Common Stock outstanding immediately prior to the open of business on the Ex-Dividend Date for
such distribution; 
 X = the total number of shares of Common Stock issuable pursuant to such rights, options
or warrants; and 
 Y = the number of shares of Common Stock equal to the aggregate price payable to exercise
such rights, options or warrants divided by the average of the Closing Sale Prices over the 10 consecutive Trading Day period ending on, and including, the trading day immediately preceding the Ex-Dividend Date for such distribution.

 Such adjustment shall be successively made whenever any such rights, options or warrants are distributed and shall become
effective immediately after the opening of business on the Ex-Dividend Date for each such distribution. To the extent that shares of the Common Stock are not delivered after the expiration of such rights, options or warrants, the Conversion
Price shall be readjusted to the Conversion Price that would then be in effect had the adjustments made upon 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 Price shall again be adjusted to be the Conversion Price that would then be in effect if such Ex-Dividend Date for such distribution had not been fixed.

 For purposes of this Section 5.06(b), in determining whether any rights, options or warrants entitle the holders to
subscribe for or purchase shares of the Common Stock at less than the average of the Closing Sale Prices for each Trading Day in the applicable 10-consecutive Trading Day period, there shall be taken into account any consideration received by the
Company for such rights, options or warrants and any amount payable on exercise or conversion thereof, the value of such consideration, if other than cash, to be determined by the Board of Directors. In no event shall the Conversion Price be
increased pursuant to this Section 5.06(b). 
 (c) If the Company distributes shares of its Capital Stock, evidences of its
indebtedness or other assets or property of the Company to all or substantially all holders of Common Stock other than (i) dividends or distributions (including subdivision of Common Stock) covered by Section 5.06(a) or
Section 5.06(b), (ii) dividends or distributions paid exclusively in cash referred to in Section 5.06(d), (iii) Spin-Offs to which the provisions set forth below in this Section 5.06(c) shall apply, and
(iv) distributions of rights to all or substantially all holders of Common Stock pursuant to the adoption of a shareholder rights plan, then, in each such case the Conversion Price shall be decreased based on the following formula: 

 

							
		  	CP = CP0 ×	  	 SP0 - FMV
	  	
	  	  	SP0	  	

  
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– 

 where, 

CP0 = the Conversion Price in effect immediately prior to the open of business on the Ex-Dividend Date for such distribution;

 CP = the Conversion Price in effect immediately after the open of business on the Ex-Dividend Date for such
distribution; 
 SP0 = the average of the Closing Sale Prices 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 of the
shares of Capital Stock, evidences of indebtedness, assets or property distributed with respect to each outstanding share of Common Stock as of the open of business on the Ex-Dividend Date for such distribution. 

If the then- Fair Market Value of the portion of the shares of Capital Stock, evidences of indebtedness or other assets or property so
distributed applicable to one share of Common Stock is equal to or greater than the average of the Closing Sale Prices over the 10 consecutive Trading Day period ending on the Trading Day immediately preceding the Ex-Dividend Date for such
distribution, in lieu of the foregoing adjustment, adequate provisions shall be made so that each Holder of a Security shall have the right to receive on conversion in respect of each Security held by such Holder, in addition to the number of shares
of Common Stock that such Holder is entitled to receive, the amount and kind of securities and assets such Holder would have received had such Holder already owned a number of shares of Common Stock equal to the Conversion Rate immediately prior to
the record date for the distribution of the securities or assets. 
 With respect to an adjustment pursuant to this
Section 5.06(c) where there has been a dividend or other distribution on the Common Stock of shares of Capital Stock of any class or series, or similar equity interest, of or relating to a Subsidiary or other business unit of the Company
(a “Spin-Off”), the Conversion Price will be decreased based on the following formula: 
  

							
		  	CP = CP0 ×	  	 MP0
	  	
	  	  	FMV + MP0	  	

 where, 

CP0 = the Conversion Price in effect immediately prior to the open of business on the Ex-Dividend Date for the Spin-Off;

  
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– 

 CP = the Conversion Price in effect immediately after the open of business
on the Ex-Dividend Date for the Spin-Off; 
 FMV = the average of the closing sale prices of the Capital Stock
or similar equity interests distributed to holders of Common Stock applicable to one share of Common Stock over the first 10 consecutive Trading Day period immediately following, and including, the Ex-Dividend Date for the Spin-Off (such period, the
“Valuation Period”); and 
 MP0 = the average of the Closing Sale Price of the Common Stock over the
Valuation Period. 
 The adjustment to the Conversion Price under the preceding paragraph of this
Section 5.06(c) shall be made immediately after the open of business on the day after the last day of the Valuation Period, but shall become effective as of the open of business on the Ex-Dividend Date for the Spin-Off. For purposes
of determining the Conversion Price, in respect of any conversion during the 10 Trading Days commencing on the Ex-Dividend Date of any Spin-Off, references in the portion of this Section 5.06(c) related to Spin-Offs to 10 Trading Days
shall be deemed replaced with such lesser number of Trading Days as have elapsed from, and including, the Ex-Dividend Date for such Spin-Off to, but excluding, the Conversion Date for such conversion. 

For purposes of this Section 5.06(c), Section 5.06(a) and Section 5.06(b), any dividend or distribution to which this
Section 5.06(c) is applicable that also includes shares of Common Stock, or rights, options or warrants to subscribe for or purchase shares of Common Stock to which Section 5.06(a) or Section 5.06(b) applies (or both), shall be deemed
instead to be (1) a dividend or distribution of the evidences of indebtedness, assets or shares of Capital Stock other than such shares of Common Stock or rights, options or warrants to which this Section 5.06(c) applies (and any
Conversion Price adjustment required by this Section 5.06(c) with respect to such dividend or distribution shall then be made) immediately followed by (2) a dividend or distribution of such shares of Common Stock or such rights, options or
warrants (and any further Conversion Price adjustment required by Section 5.06(a) and Section 5.06(b) with respect to such dividend or distribution shall then be made), except (A) the Ex-Dividend Date of such dividend or distribution
shall be substituted as “the Ex-Dividend Date,” “the Ex-Dividend Date relating to such distribution of such rights, options or warrants” and “the Ex-Dividend Date for such distribution” within the meaning of
Section 5.06(a) and Section 5.06(b) and (B) any shares of Common Stock included in such dividend or distribution shall not be deemed “outstanding immediately prior to the open of business on the Ex-Dividend Date for
such dividend or distribution, or immediately prior to the open of business on the effective date of such subdivision or share combination, as the case may be” within the meaning of Section 5.06(a) or “outstanding immediately prior to
the Ex-Dividend Date for such distribution” within the meaning of Section 5.06(b). 
 In no event shall the Conversion
Price be increased pursuant to this Section 5.06(c). 

  
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– 

 (d) If the Company makes or pays any cash dividend or distribution to all or substantially
all holders of outstanding Common Stock (other than distributions pursuant to Section 5.06(e) and any dividend or distribution in connection with the liquidation, dissolution or winding up on the Company), the applicable Conversion Price
shall be decreased based on the following formula: 
  

							
		  	CP = CP0 ×	  	 SP0 - C
	  	
	  	  	SP0	  	

 where, 

CP0 = the Conversion Price in effect immediately prior to the open of business on the Ex-Dividend Date for such dividend or
distribution; 
 CP = the Conversion Price in effect immediately after the open of business on the Ex-Dividend
Date for such dividend or distribution; 
 SP0 = the average of the Closing Sale Prices for 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 dividend or distribution; and 
 C = the amount in cash per share the Company pays or distributes to holders of Common Stock. 
 If any dividend or distribution described in this Section 5.06(d) is declared but not so paid or made, the new Conversion Price shall again be readjusted to be the Conversion Price that would then be
in effect if such dividend or distribution had not been declared. 
 For the avoidance of doubt, for purposes of this
Section 5.06(d), in the event of any reclassification of the Common Stock, as a result of which the Securities become convertible into more than one class of common stock, if an adjustment to the Conversion Price is required pursuant to this
Section 5.06(d), references in this Section to one share of Common Stock or Closing Sale Prices of one share of Common Stock shall be deemed to refer to a unit or to the price of a unit consisting of the number of shares of each class of common
stock into which the Securities are then convertible equal to the number of shares of such class issued in respect of one share of Common Stock in such reclassification. The above provisions of this paragraph shall similarly apply to successive
reclassifications. 
 In no event shall the Conversion Price be increased pursuant to this Section 5.06(d). 

(e) If the Company or any of its Subsidiaries makes a payment in respect of a tender offer or exchange offer for the Common Stock and if
the Cash and value of any other consideration included in the payment per share of the Common Stock exceeds the average of the Closing Sale Prices of the Common Stock over the 10 consecutive Trading-Day period commencing on, and including, the
Trading Day next succeeding the last date on which tenders or exchanges may be made pursuant to such tender or exchange offer (the “Expiration Date”), the Conversion Price shall be decreased based on the following formula:

  

							
		  	CP = CP0 ×	  	 OS0 × SP
	  	
	  	  	AC + (OS × SP)	  	

  
 – 36
– 

 where, 

CP0 = the Conversion Price in effect immediately prior to the open of business on the Trading Day next succeeding the
Expiration Date; 
 CP = the Conversion Price in effect immediately after the open of business on the Trading
Day next succeeding the Expiration Date; 
 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 (including Class B common stock on an as converted basis) outstanding immediately prior to the time (the “Expiration Time”) such tender or exchange offer expires (prior to giving effect to such tender offer
or exchange offer); 
 OS = the number of shares of Common Stock (including Class B common stock on an as
converted basis) outstanding immediately after the Expiration Time (after giving effect to such tender offer or exchange offer); and 
 SP = the average of the Closing Sale Prices of Common Stock over the 10 consecutive Trading Day period commencing on, and including, the Trading Day next succeeding the Expiration Date. 

Such adjustment under this Section 5.06(e) shall become effective at the opening of business on the Trading Day next succeeding
the Expiration Date. For purposes of determining the Conversion Price, in respect of any conversion during the 10 Trading Days commencing on the Trading Day next succeeding the Expiration Date, references within this Section 5.06(e) to 10
Trading Days shall be deemed replaced with such lesser number of Trading Days as have elapsed from, and including, the Trading Day next succeeding the Expiration Date to, but excluding, the Conversion Date for such conversion. If the Company is
obligated to purchase shares pursuant to any such tender or exchange offer, but the Company is permanently prevented by applicable law from effecting any or all or any portion of such purchases or all such purchases are rescinded, the Conversion
Rate shall again be adjusted to be the Conversion Rate that would then be in effect if such tender or exchange offer had not been made or had been made only in respect of the purchases that had been effected. In no event shall the Conversion
Price be increased pursuant to this Section 5.06(e). 
 (f) Notwithstanding this Section 5.06 or any other provision
of this Indenture or the Securities, if any Conversion Price adjustment becomes effective, or any Ex-Dividend Date for any issuance, dividend or distribution (relating to a required Conversion Price adjustment) occurs on a Conversion Date, the Board
of Directors shall make adjustments to the Conversion Price and the amount of cash or number of shares of Common Stock issuable upon conversion of the 

  
 – 37
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Securities, as the case may be, as are necessary or appropriate to effect the intent of this Section 5.06 and the other provisions of this Article 5 and to avoid unjust or inequitable
results, as determined in good faith by the Board of Directors. Any adjustment made pursuant to this Section 5.06(f) shall apply in lieu of the adjustment or other term that would otherwise be applicable. 

(g) If the Company adjusts the Conversion Price pursuant to the above provisions, the Company will deliver to the Conversion Agent a
certificate setting forth the Conversion Price, detailing the calculation of the Conversion Price and describing the facts upon which the adjustment is based. In addition, the Company will issue a press release containing the relevant information
and make the press release available on its website. 
 Section 5.07. No Adjustment. 

(a) All calculations and other determinations under this Article 5 shall be made by the Company and shall be made to the nearest
one-ten thousandth (1/10,000) of a share. Notwithstanding the provisions of Section 5.06, no adjustment in the Conversion Rate shall be required unless the adjustment would result in a change of at least 1% in the Conversion Price as last
adjusted; provided, however, that any adjustments which by reason of this Section 5.07 are not required to be made shall be carried forward and taken into account in any subsequent adjustment, regardless of whether the aggregate
adjustment is less than 1%, (i) upon any conversion of Securities, (ii) upon any required purchases of the Securities in connection with a fundamental change, and (iii) with respect to any conversions occurring after April 15,
2018, as the case may be. 
 (b) No adjustment to the Conversion Rate shall be required in respect of any transaction in which
Holders participate (as a result of holding the Securities, at the same time as holders of the Common Stock participate) as if such Holders held the number of shares of Common Stock equal to the applicable Conversion Rate, multiplied by the
principal amount of Securities held by such Holder, divided by 1,000, without conversion of the Securities. 
 (c) No adjustment
to the Conversion Rate shall be required 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 Company’s securities and the investment of
additional optional amounts in shares of Common Stock under any plan. 
 (d) No adjustment to the Conversion Rate shall be
required 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, us or any of our subsidiaries.

 (e) No adjustment to the Conversion Rate shall be required upon the issuance of any shares of Common Stock pursuant to any
option, warrant, right or exercisable, exchangeable or convertible security not described in Section 5.07(d) and outstanding as of the date the Securities were first issued. 

  
 – 38
– 

 (f) No adjustment to the Conversion Rate shall be required for a change in the par value of
the Common Stock. 
 (g) No adjustment to the Conversion Rate shall be required for accrued and unpaid interest, if any.

 Section 5.08. Adjustment for Tax Purposes. 

The Company shall be entitled to make such reductions in the Conversion Price, for the remaining term of the Securities or any shorter
term, in addition to those required by Section 5.06, as the Board of Directors shall determine to be advisable in order to avoid or diminish any tax to any holders of shares of Common Stock or rights to purchase Common Stock resulting from any
stock dividends, subdivisions of shares, distributions of rights or warrants to purchase or subscribe for stock or securities, distributions of securities convertible into or exchangeable for stock hereafter made by the Company to its stockholders
or from any event treated as such for income tax purposes. 
 Section 5.09. Temporary Reduction of Conversion Price.

 To the extent permitted by applicable law, the Company from time to time may reduce the Conversion Price by any amount for
any period of time if the period is at least 20 Business Days, the reduction is irrevocable during such period, and the Board of Directors shall have made a determination that such reduction would be in the best interest of the Company. Whenever the
Conversion Price is reduced pursuant to the preceding sentence, the Company shall provide notice of any reduction in the Conversion Price to the Holders in the manner provided in Section 13.02, with a copy to the Trustee and Conversion Agent,
at least 15 days prior to the date such reduced Conversion Price takes effect, and such notice shall state the reduced Conversion Price and the period during which it will be in effect. 

Section 5.10. Notice of Certain Transactions. 
 In the event that: 
 (1) the Company takes any action which would require an
adjustment in the Conversion Price; 
 (2) t he Company consolidates or enters into a binding share exchange with, merges
with or into, or transfers all or substantially all of its property and assets to, another corporation and shareholders of the Company must approve the transaction; or 
 (3) there is a dissolution or liquidation of the Company, 
 the Company shall mail to Holders
and file with the Trustee a notice stating the proposed record or effective date, as the case may be, and mail the notice at least 10 days before such date; provided, further, that upon occurrence of an event referred to in clause (1) of
this Section 5.10, the Company shall file with the Trustee (and deliver a copy to the Conversion Agent) an Officers’ Certificate briefly stating the facts requiring the adjustment and the manner of computing it and promptly mail to Holders
a notice of the adjustment. Failure to mail such 

  
 – 39
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notice or any defect therein shall not affect the validity of any transaction referred to in clause (1), (2) or (3) of this Section 5.10; provided, however, that unless and
until the Trustee and the Conversion Agent shall have received an Officers’ Certificate setting forth an adjustment of the Conversion Price in connection with the event referred to in clause (1), the Trustee may assume without inquiry that the
Conversion Price has not been adjusted and that the last Conversion Price of which it has knowledge remains in effect. 

Section 5.11. Effect of Reclassification, Consolidation, Merger, Binding Share Exchange or Sale on Conversion Privilege.

 If any of the following shall occur, namely: (a) any reclassification or change of shares of Common Stock issuable
upon conversion of the Securities (other than a change in par value, or from par value to no par value, or from no par value to par value, or as a result of a subdivision or combination, or any other change for which an adjustment is provided in
Section 5.06); (b) any consolidation, merger, binding share exchange or combination to which the Company is a party other than a merger or binding share exchange in which the Company is the continuing corporation and which does not result
in any reclassification of, or change (other than in par value, or from par value to no par value, or from no par value to par value, or as a result of a subdivision or combination) in, outstanding shares of Common Stock; or (c) any sale,
assignment, conveyance, transfer, lease or other disposition as an entirety or substantially as an entirety of the property and assets of the Company, directly or indirectly, to any person, then the Company, or such successor, purchasing or
transferee corporation, as the case may be, shall, as a condition precedent to such reclassification, change, combination, consolidation, merger, binding share exchange, sale, assignment, conveyance, transfer, lease or other disposition, execute and
deliver to the Trustee a supplemental indenture providing that the Holder of each Security then outstanding shall have the right to convert such Security into the kind and amount of shares of stock and other securities and property (including Cash)
receivable upon such reclassification, change, combination, consolidation, merger, binding share exchange, sale, assignment, conveyance, transfer, lease or other disposition by a holder of the number of shares of Common Stock deliverable upon
conversion of such Security immediately prior to such reclassification, change, combination, consolidation, merger, binding share exchange, sale, assignment, conveyance, transfer, lease or other disposition (the “Reference
Property”). For purposes of the foregoing, if holders of the Common Stock receive or have the right to receive more than one form of consideration in connection with such reclassification, change, combination, consolidation, merger,
binding share exchange, sale, assignment, conveyance, transfer, lease or other disposition, then the Reference Property shall be based on weighted average of elections as to consideration made by holders of the Common Stock (such as pro rata
reductions made to any portion of consideration payable). If the Common Stock is replaced by Reference Property, thereafter all references to Common Stock in this Indenture shall be references to such Reference Property, except as the context
otherwise requires. The determination of the Reference Property shall apply to all of the Securities and the Company shall notify the Trustee of the composition of the Reference Property promptly after it is determined. Such supplemental indenture
shall provide for adjustments of the Conversion Price which shall be as nearly equivalent as may be practicable to the adjustments of the Conversion Price provided for in this Article 5. If, in the case of any such consolidation, merger,
binding share exchange, combination, sale, assignment, conveyance, transfer, lease or other disposition, the stock or other securities and property (including Cash) receivable thereupon by a holder of Common Stock include shares of stock or

  
 – 40
– 

 
other securities and property of a person other than the successor, purchasing or transferee corporation, as the case may be, in such consolidation, merger, binding share exchange, combination,
sale, assignment, conveyance, transfer, lease or other disposition, then such supplemental indenture shall also be executed by such other person and shall contain such additional provisions to protect the interests of the Holders of the Securities
as the Board of Directors shall reasonably consider necessary by reason of the foregoing. The provisions of this Section 5.11 shall similarly apply to successive reclassifications, changes, combinations, consolidations, mergers, binding
share exchanges, sales, assignments, conveyances, transfers, leases and other dispositions. The Trustee has no duty to determine whether a supplemental indenture under this Section 5.11 need be entered into. 

In the event the Company shall execute a supplemental indenture pursuant to this Section 5.11, the Company shall promptly file with
the Trustee (x) an Officers’ Certificate briefly stating the reasons therefor, the kind or amount of Reference Property receivable by Holders of the Securities upon the conversion of their Securities after any such reclassification,
change, combination, consolidation, merger, binding share exchange, sale, assignment, conveyance, transfer, lease or other disposition, any adjustment to be made with respect thereto and that all conditions precedent have been complied with and
(y) an Opinion of Counsel that all conditions precedent have been complied with, and shall promptly mail notice thereof to all Holders. 
 Section 5.12. Disclaimer. 
 Nether the Trustee nor any Conversion
Agent (other than the Company or an Affiliate of the Company) shall have any duty to determine when an adjustment under this Article 5 should be made, how it should be made or what such adjustment should be, but may accept as conclusive
evidence of that fact or the correctness of any such adjustment, and shall be protected in relying upon, an Officers’ Certificate, including the Officers’ Certificate with respect thereto, which the Company is obligated to file with the
Trustee (and to deliver a copy thereof to the Conversion Agent) pursuant to Section 5.10. Neither the Trustee nor any Conversion Agent (other than the Company or an Affiliate of the Company) makes any representation as to the validity or
value of any securities or assets issued upon conversion of Securities, and neither shall be responsible for the Company’s failure to comply with any provisions of this Article 5. 

The Trustee shall not be under any responsibility to determine the correctness of any provisions contained in any supplemental indenture
executed pursuant to Section 5.11, but may accept as conclusive evidence of the correctness thereof, and shall be fully protected in relying upon, the Officers’ Certificate with respect thereto which the Company is obligated to file with
the Trustee pursuant to Section 5.11. 
 Section 5.13. Limitation on Adjustments. 

(a) The Company shall not take any action that would result in an adjustment pursuant to the foregoing provisions in this Article 5
without complying with the shareholder approval rules of the NASDAQ Stock Market (including NASDAQ Market Rule 5635), or any similar rules of any other stock exchange on which the Common Stock may be listed, if applicable. 

  
 – 41
– 

 (b) The Company shall not take any action that would result in an adjustment pursuant to the
foregoing provisions in this Article 5 if that adjustment would reduce the Conversion Price below the then par value of the shares of Common Stock issuable upon conversion of the Securities. 

ARTICLE 6 

REDEMPTION 
 Section 6.01. Right to Redeem; Notices to Trustee. 
 (a) The
Securities are not redeemable by the Company prior to June 30, 2014. On or after June 30, 2014, the Securities may be redeemed for Cash in whole or in part at the option of the Company. 

(b) The redemption price at which the Securities are redeemable (the “Redemption Price”) shall be equal to the
applicable purchase price (expressed as a percentage of the principal amount of the Securities to be redeemed) set forth below, if redeemed during the twelve-month period beginning on June 30 of the years indicated below, together with any
accrued and unpaid interest to, the applicable Redemption Date; provided, that if the Redemption Date is on a date that is after a Record Date and on or prior to the related Interest Payment Date, the Redemption Price shall not include
accrued and unpaid interest on the principal amount of Securities redeemed. Instead, the Company shall pay such interest on the Interest Payment Date to the Holder of record on the related Record Date. 

 

					
	 Year
	  	Percentage	 
	 2014
	  	 	103	% 
	 2015
	  	 	102	% 
	 2016
	  	 	101	% 
	 2017
	  	 	100	% 

 (c) If the Company elects to redeem Securities pursuant to this Section 6.01, it shall notify the
Trustee in writing of such election together with the Redemption Date, the Conversion Rate, the principal amount of Securities to be redeemed and the Redemption Price per $1,000 principal amount. 

(d) The Company shall give the notice to the Trustee provided for in this Section 6.01 by a Company Order, at least 45 days before
the Redemption Date (unless a shorter notice not less than 30 days prior to the Redemption Date shall be satisfactory to the Trustee) stating (i) the clause of this Indenture and the Securities pursuant to which the redemption shall occur,
(ii) the Redemption Date, (iii) the principal amount of Notes to be redeemed, (iv) the Redemption Price and (v) such election has been duly authorized by all requisite corporate action on the part of the Company; provided the
Trustee shall give the notice of redemption in the Company’s name and at the Company’s expense at the Company’s request pursuant to Section 6.03 given at least seven Business Days (or such shorter period as may be satisfactory to
the Trustee) prior to the date by which such notice of redemption must be given to Holders. 

  
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 Section 6.02. Selection of Securities to Be Redeemed. 

If less than all of the Securities are to be redeemed, unless the procedures of the Depositary provide otherwise, the Trustee shall
select the Securities to be redeemed by lot, on a pro rata basis or by another method the Trustee considers appropriate (so long as such method is not prohibited by the rules of any stock exchange or quotation association on which the Securities are
then traded or quoted). 
 Securities and portions of Securities that the Trustee selects shall be in principal amounts of
$1,000 or an integral multiple of $1,000 principal amount. Provisions of this Indenture that apply to Securities called for redemption also apply to portions of Securities called for redemption. The Trustee shall notify the Company promptly (but in
any case within seven days of the Company Order referred to in Section 6.01) of the Securities or portions of the Securities selected to be redeemed and, in the case of any Securities selected for partial redemption, the method it has chosen
for the selection of the Security. 
 If any Security selected for partial redemption is converted in part before termination of
the conversion right with respect to the portion of the Security so selected, the converted portion of such Security shall be deemed (so far as may be) to be the portion selected for redemption. Securities that have been converted during a selection
of Securities to be redeemed may be treated by the Trustee as outstanding for the purpose of such selection. 

Section 6.03. Notice of Redemption. 
 At least 30 days but not more than 60 days before a Redemption Date, the Company shall mail by first-class mail, postage prepaid, or deliver electronically pursuant to Applicable Procedures, a notice of
redemption (substantially in the form of Exhibit C) to each Holder of Securities to be redeemed. 
 The notice shall identify
the Securities to be redeemed and shall state (along with any other information the Company wishes to include): 

(i) the Redemption Date; 
 (ii) the Redemption Price per $1,000 principal amount; 
 (iii) the
Conversion Rate; 
 (iv) the name and address of the Paying Agent and Conversion Agent; 

(v) that Securities may be converted at any time before the close of business on the second Business Day prior to the
Redemption Date; 
 (vi) that Securities called for redemption and not converted prior to the close of business
on the second Business Day prior to the Redemption Date shall be redeemed on the Redemption Date; 

  
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 (vii) that Holders who want to convert their Securities must satisfy the
requirements set forth in the Securities; 
 (viii) that Securities called for redemption must be surrendered to
the Paying Agent (by effecting book entry transfer of the Securities or delivering Certificated Securities, together with necessary endorsements, as the case may be) to collect the Redemption Price; 

(ix) if fewer than all of the outstanding Securities are to be redeemed, the certificate numbers, if any, and the
principal amount of the particular Securities to be redeemed; 
 (x) that, unless the Company defaults in making
payment of such Redemption Price, interest on the Securities called for redemption shall cease to accrue from and after the Redemption Date; and 
 (xi) the CUSIP, “ISIN” or other similar number(s), as the case may be, of the Securities being redeemed, and that no representation is made as to the correctness or accuracy of the CUSIP number,
if any, listed in such notice or printed on the Securities. 
 Upon Company Order, the Trustee shall give the notice of
redemption in the Company’s name and at the Company’s expense, provided that the Company makes such request and delivers such Company Order together with the notice of redemption to be given at least seven Business Days (or such
shorter period as may be satisfactory to the Trustee) prior to the date by which such notice of redemption must be given to Holders in accordance with this Section 6.03. Any redemption may be cancelled by the Company upon written notice to the
Trustee at any time prior to notice of redemption being sent to any Holder and thereafter shall be null and void. 

  
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 Section 6.04. Effect of Notice of Redemption. Once notice of redemption is
given, Securities called for redemption become due and payable on the Redemption Date and at the Redemption Price stated in the notice except for Securities that are converted in accordance with the terms of this Indenture. Upon surrender to the
Paying Agent, such Securities shall be paid at the Redemption Price stated in the notice and from and after the Redemption Date (unless the Company shall default in the payment of the Redemption Price) such Securities shall cease to bear interest
and the rights of the Holders therein shall terminate (other than the right to receive the Redemption Price, together with any accrued and unpaid interest). 
 Section 6.05. Deposit of Redemption Price. Prior to 11:00 a.m. (New York City time), on the Redemption Date, the Company shall deposit with the Paying Agent (or if the Company or a Subsidiary
or an Affiliate of either of them is the Paying Agent, shall segregate and hold in trust as provided in Section 2.04) money sufficient to pay the Redemption Price of all Securities to be redeemed on that date other than Securities or portions
of Securities called for redemption which on or prior thereto have been delivered by the Company to the Trustee for cancellation or have been converted. The Paying Agent shall as promptly as practicable return to the Company any money not required
for that purpose because of conversion of Securities pursuant to Article 5. If such money is then held by the Company or a Subsidiary or an Affiliate of either in trust and is not required for such purpose it shall be discharged from such trust.

 Section 6.06. Securities Redeemed in Part. Upon surrender of a Security that is redeemed in part, the Company
shall execute and, upon Company Order, the Trustee shall, without charge, authenticate and deliver to the Holder a new Security of any authorized denomination as requested by such Holder in aggregate principal amount equal to, and in exchange for,
the portion of the principal amount of the Security so surrendered that is not redeemed. 
 ARTICLE 7 

COVENANTS 

Section 7.01. Payment of Securities. 
 The Company shall promptly make all payments in respect of the Securities on the dates and in the manner provided in the Securities and this Indenture. An installment of principal or interest shall
be considered paid on the date it is due if the Paying Agent (other than the Company) holds by 11:00 a.m. (New York City time) on that date money, deposited by the Company or an Affiliate thereof, sufficient to pay such installment. The
Company shall (in immediately available funds), to the fullest extent permitted by law, pay interest on overdue principal and overdue installments of interest at the rate borne by the Securities per annum. 

Payment of the principal of and interest on the Securities shall be made at the office or agency of the Company maintained for that
purpose in New York, New York (which shall initially be the Corporate Trust Office of the Trustee) in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts;
provided, however, that at the option of the Company payment of interest may be made by check mailed to the address of the Person entitled thereto as such address appears in the Register;

  
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provided, further, that a Holder holding an aggregate principal amount of the Securities in excess of $1,000,000 shall be paid by wire transfer in immediately available funds at the
election of such Holder if such Holder has provided wire transfer instructions to the Trustee and the Paying Agent at least 10 Business Days prior to the payment date; provided, further, that all payments made to the Depositary or its
nominee shall be made by wire transfer in immediately available funds. 
 Section 7.02. SEC Reports. 

So long as any Securities are outstanding, the Company shall (i) file with the SEC within the time periods prescribed by its
rules and regulations and (ii) furnish to the Trustee and the Holders of the Securities within 15 days after the date on which the Company would be required to file the same with the SEC pursuant to its rules and regulations (giving
effect to any grace period provided by Rule 12b-25 under the Exchange Act), all quarterly and annual financial information required to be contained in Forms 10-Q and 10-K and, with respect to the annual consolidated financial statements only, a
report thereon by the Company’s independent auditors. 
 Delivery of such reports, information and documents to the Trustee
is for informational purposes only, and the Trustee’s receipt of such shall not constitute constructive notice of any information contained therein or determinable from information contained therein, including the Company’s compliance with
any of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officers’ Certificates). The Company shall not be required to file any report or other information with the SEC if the SEC does not permit such
filing, although such reports shall be furnished to the Trustee and to the Holders. Documents filed by the Company with the SEC via the SEC’s EDGAR system (or any successor thereto) will be deemed furnished to the Trustee and the Holders
of the Securities as of the time such documents are filed via EDGAR (or such successor). The Trustee is hereby directed, which direction may be changed by the Company at any time, upon a three Business Day prior written notice, to access the EDGAR
system for purposes of retrieving the reports so filed. The Trustee shall have no duty to make available to Holders any reports furnished to the Trustee or to search for or obtain any electronic or other filings that the Company makes with the SEC,
regardless of whether such filings are periodic, supplemental or otherwise. 
 Section 7.03. [Reserved]. 

Section 7.04. Compliance Certificates. 
 The Company shall deliver to the Trustee, within 90 days after the end of each fiscal year of the Company (beginning with the fiscal year ending December 31, 2013), an Officers’ Certificate as
to the signer’s knowledge of the Company’s compliance with all conditions and covenants on its part contained in this Indenture and stating whether or not the signer knows of any default or Event of Default. If such signer knows of
such a default or Event of Default, the Officers’ Certificate shall describe the default or Event of Default and the efforts to remedy the same. For the purposes of this Section 7.04, compliance shall be determined without regard to
any grace period or requirement of notice provided pursuant to the terms of this Indenture. 

  
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 The Company shall deliver to the Trustee, as soon as possible and in any event within thirty
days after the Company becomes aware of the occurrence of any Event of Default or an event which, with notice or the lapse of time or both, would constitute an Event of Default, an Officers’ Certificate setting forth the details of such Event
of Default or default and the action which the Company proposes to take with respect thereto. 
 Section 7.05.
Additional Interest Notice. 
 In the event that the Company is required to pay Additional Interest to Holders of
Securities pursuant to Sections 7.10 or 9.02(b) hereof, the Company shall provide a direction or order in the form of a Company Order or a written notice signed by an Officer (“Additional Interest Notice”) to the Trustee (and if the
Trustee is not the Paying Agent, also to the Paying Agent) of the Company’s obligation to pay Additional Interest no later than ten Business Days prior to the proposed payment date set for the payment of Additional Interest, and the Additional
Interest Notice shall set forth the amount of Additional Interest to be paid by the Company on such payment date and direct the Trustee (or, if the Trustee is not the Paying Agent, the Paying Agent) to make payment to the extent it receives funds
from the Company to do so. The Trustee shall not at any time be under any duty or responsibility to any holder of Securities to determine whether Additional Interest is payable, or with respect to the nature, extent, or calculation of the amount of
Additional Interest owed, or with respect to the method employed in such calculation of Additional Interest. The Trustee may provide a copy of such Company Order or other notice received from the Company relating to Additional Interest to any Holder
upon request. 
 Section 7.06. Rule 144A Information Requirements. 

For so long as any of the Securities or the Common Stock issuable upon the conversion thereof are “restricted securities”
within the meaning of Rule 144(a)(3) under the Securities Act (or any successor provision), the Company covenants and agrees that it shall, during any period in which it is not subject to and in compliance with Section 13 or 15(d) under the
Exchange Act, upon the request of any Holder or beneficial holder of the Securities or any Common Stock issued upon conversion thereof bearing a Restricted Security Legend or Restricted Stock Legend, as the case may be, make available to such Holder
or beneficial holder of such Securities or any Common Stock issued upon conversion thereof in connection with any sale thereof and any prospective purchaser of Securities or such Common Stock designated by such Holder or beneficial holder, the
information required pursuant to Rule 144A(c)(2) under the Securities Act and it shall take such further action as any Holder or beneficial holder of such Securities or such Common Stock may reasonably request, all to the extent required from
time to time to enable such Holder or beneficial holder to sell its Securities or Common Stock without registration under the Securities Act within the limitation of the exemption provided by Rule 144A, as such Rule may be amended from time to
time. Upon the request of any Holder or any beneficial holder of the Securities or such Common Stock, the Company shall deliver to such Holder a written statement as to whether such Holder and prospective purchaser have complied with such
requirements. 

  
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 Section 7.07. Further Instruments and Acts. 

Upon request of the Trustee, the Company shall execute and deliver such further instruments and do such further acts as may be reasonably
necessary or proper to carry out more effectively the purposes of this Indenture. 
 Section 7.08. Maintenance of
Corporate Existence. 
 Subject to Article 8, the Company shall do or cause to be done all things necessary to preserve
and keep in full force and effect its corporate existence. 
 Section 7.09. Stay, Extension and Usury Laws.

 The Company covenants (to the extent that it may lawfully do so) that it shall not at any time insist upon, plead, or in any
manner whatsoever claim or take the benefit or advantage of, any stay, extension or usury law or other law which would prohibit or forgive the Company from paying all or any portion of the principal of, or premium, if any, or interest on, the
Securities as contemplated herein, wherever enacted, now or at any time hereafter in force, or which may affect the covenants or the performance of this Indenture, and the Company (to the extent it may lawfully do so) hereby expressly waives all
benefit or advantage of any such law and covenants that it shall not, by resort to any such law, hinder, delay or impede the execution of any power herein granted to the Trustee, but shall suffer and permit the execution of every such power as
though no such law had been enacted. 
 Section 7.10. Additional Interest Payable Upon Failure to Report or to
Delegend. 
 (a) If at any time during the six months to one-year period following the last original issuance date of the
Securities, the Company fails to timely file any document or report that it is required to file with the SEC pursuant to Section 13 or 15(d) of the Exchange Act (other than any Current Report on Form 8-K), as applicable, or the Securities are
not otherwise freely tradable by the Holders, other than Holders who are Affiliates of the Company (as a result of restrictions imposed pursuant to U.S. securities law or the terms of this Indenture or the Securities), the Company shall make a one
time payment in respect of the Securities in the amount of 0.50% of their principal amount, provided that the Company will have 14 days, in the aggregate, to cure all such missed filings. 

(b) Unless: 
 (i) the Restricted Security Legend on the Securities has been removed, and 
 (ii) the Securities are freely tradable pursuant to Rule 144 under the Securities Act without volume restrictions by Holders other than Affiliates of the Company (without restrictions pursuant to U.S.
securities law or the terms of this Indenture or the Securities) 
 as of the 375th day after the last date of original issuance of the
Securities (a “Registration Default”), the Company shall either (i) pay Additional Interest on the Securities at an annual rate equal to 0.50% of the aggregate principal amount of the outstanding Securities until the Securities
are freely tradable as described above or pursuant to the next clause or (y) designate an 

  
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effective shelf registration statement useable for the resale of such Securities and any Common Stock issuable upon conversion of the Securities. So long as a condition described in either
(i) or (ii) of this Section 7.10(b) continues, the Company shall pay such Additional Interest in Cash on June 30 and December 30 of each year to the Person who is the Holder of record of the Securities on the immediately
preceding June 15 and December 15. When such Registration Default ceases to continue, accrued and unpaid Additional Interest through the date of cessation shall be paid in Cash on the subsequent Interest Payment Date to the record Holder.
In no event shall Additional Interest accrue at an annual rate in excess of 0.50%, in the aggregate, pursuant to this Section 7.10 and Section 9.02(b). 
 ARTICLE 8 
 CONSOLIDATION, MERGER, BINDING SHARE EXCHANGE, CONVEYANCE,
TRANSFER OR LEASE 
 Section 8.01. Company May Consolidate, etc., only on Certain Terms. 

The Company shall not consolidate with, enter into a binding share exchange or merge with or into another Person or sell, assign, convey,
transfer, lease or otherwise dispose of its properties and assets substantially as an entirety to any Person, unless: 

(1) the Company is the surviving Person, or the Company is not the surviving Person and the Person formed by such consolidation or
binding share exchange or with or into which the Company is merged or the Person which acquires by sale, assignment, conveyance, transfer, lease, or which otherwise acquires, the properties and assets of the Company substantially as an entirety
shall be a corporation organized and validly existing under the laws of the United States of America, any State thereof or the District of Columbia and shall expressly assume, by an indenture supplemental hereto, executed and delivered to the
Trustee, in form satisfactory to the Trustee, the due and punctual payment of the principal of and interest on all the Securities and the performance or observance of every covenant of this Indenture on the part of the Company to be performed or
observed, and the conversion rights shall be provided for in accordance with Article 5, by supplemental indenture satisfactory in form to the Trustee, executed and delivered to the Trustee, by the Person (if other than the Company) formed by
such consolidation, binding share exchange or into which or with whom the Company shall have been merged or by the Person which shall have acquired the Company’s assets; 
 (2) immediately after giving effect to such transaction, no default or Event of Default shall have occurred and be continuing; and 

(3) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each in a form reasonably
satisfactory to the Trustee and stating that such consolidation, merger with or into another Person, binding share exchange, sale, assignment, conveyance, transfer, lease or other disposal and, if a supplemental indenture is required in connection
with such transaction, such supplemental indenture complies with this Article and Article 5 and that all conditions precedent herein provided for relating to such transaction have been complied with, and an Opinion of Counsel stating that such
supplemental indenture and the Securities constitute, legal, valid and binding obligations of the Company or successor Person, subject to customary exceptions. 

  
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 Section 8.02. Successor Substituted. 

Upon any consolidation of the Company or binding share exchange with, or merger of the Company into or with, any other Person or any
sale, assignment, conveyance, transfer, lease or other disposal of the properties and assets of the Company substantially as an entirety in accordance with Section 8.01, the successor Person formed by such consolidation or binding share
exchange or into which or with whom the Company is merged or to which such assignment, sale, conveyance, transfer, lease or other disposal is made shall succeed to, and be substituted for, and may exercise every right and power of, the Company under
this Indenture with the same effect as if such successor Person had been named as the Company herein, and thereafter, except in the case of a lease, the predecessor Person shall be relieved of all obligations and covenants under this Indenture and
the Securities. 
 ARTICLE 9 
 DEFAULT AND REMEDIES 
 Section 9.01. Events of Default.

 An “Event of Default” with respect to Securities shall occur if: 

(a) the Company defaults in the payment of any principal of any Security when the same becomes due and payable on the Maturity Date;

 (b) the Company defaults in the payment of Cash and the delivery of shares of Common Stock owing upon conversion of any
Security, within the time period required under Article 5; 
 (c) the Company defaults in the payment of interest (including any
Additional Interest) when the same becomes due and payable and the default continues for a period of 30 days; 
 (d) The Company
fails to perform or comply with any of its other covenants or agreements contained in the Securities or in this Indenture (other than a covenant or agreement a default in whose performance or whose breach is specifically dealt with in clauses (a),
(b), (c), (e) or (f) of this Section 9.01) and the default continues for 60 days after notice is given as specified below; 
 (e) the Company defaults in the payment of the Fundamental Change Purchase Price or the Redemption Price for any Security, when the same becomes due and payable; 

(f) the Company fails to provide on a timely basis written notice of a Fundamental Change as required by Section 3.01(b);

  
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 (g) any indebtedness for money borrowed by the Company, or any Significant Subsidiary of the
Company (or any group of Subsidiaries that, taken together, would constitute a Significant Subsidiary), in an outstanding principal amount, individually or in the aggregate, in excess of $5.0 million is not paid at final maturity (or when otherwise
due) or is accelerated, and such indebtedness is not discharged (or such default in payment or acceleration is not cured or rescinded) within 30 days after written notice as provided in this Indenture; 

(h) the Company or any Significant Subsidiary of the Company (or any group of Subsidiaries that, taken together, would constitute a
Significant Subsidiary) fails to pay one or more final and non-appealable judgments entered by a court or courts of competent jurisdiction, the aggregate uninsured or unbonded portion of which is in excess of $5.0 million, if the judgments are not
paid, discharged or stayed within 30 days; 
 (i) the Company or any Significant Subsidiary of the Company, pursuant to or
within the meaning of any Bankruptcy Law: 
 (i) commences a voluntary case or proceeding; 

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

(iii) consents to the appointment of a Custodian of it or for all or substantially all of its property; or 

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

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

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

 (ii) appoints a Custodian of the Company or any Significant Subsidiary of the Company for all or
substantially all of the property of the Company or any such Significant Subsidiary; or 
 (iii) orders the
liquidation of the Company or any Significant Subsidiary of the Company; 
 and in each case the order or decree remains unstayed and in effect
for 60 consecutive days. 
 The term “Bankruptcy Law” means Title 11 of the United States Code (or any
successor thereto) or any similar federal or state law for the relief of debtors. The term “Custodian” means any receiver, trustee, assignee, liquidator, sequestrator or similar official under any Bankruptcy Law. 

(k) A default under clause (d) or (g) above is not an Event of Default until the Trustee notifies the Company, or the Holders
of at least 25% in aggregate principal amount of the 

  
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Securities then outstanding notify the Company and the Trustee, in writing of the default, and the Company does not cure the default within 60 days after receipt of such notice. The notice given
pursuant to this Section 9.01 must specify the default, demand that it be remedied and state that the notice is a “Notice of Default.” When any default under this Section 9.01 is cured or waived, it ceases. 

(l) The Trustee shall not be charged with knowledge of any Default or Event of Default unless written notice thereof shall have been
given to a Trust Officer at the Corporate Trust Office of the Trustee by the Company, a Paying Agent, any Holder or any agent of any Holder. 
 Section 9.02. Acceleration. 
 (a) If an Event of Default (other than
an Event of Default specified in clause (i) or (j) of Section 9.01) occurs and is continuing with respect to any Securities, the Trustee may, by notice to the Company, or the Holders of at least 25% in aggregate principal amount of
the Securities then outstanding may, by notice to the Company and the Trustee, declare all unpaid principal to the date of acceleration on the Securities then outstanding (if not then due and payable) to be due and payable upon any such
declaration, and the same shall become and be immediately due and payable. If an Event of Default specified in clause (i) or (j) of Section 9.01 occurs, all unpaid principal of the Securities then outstanding shall ipso facto
become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holder. The Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may
rescind an acceleration of Securities and its consequences if (a) all existing Events of Default, other than the nonpayment of the principal of the Securities which has become due solely by such declaration of acceleration, have been
cured or waived; (b) interest which has become due otherwise than by such declaration of acceleration, has been paid; (c) the rescission would not conflict with any judgment or decree of a court of competent jurisdiction; and (d) all
payments due to the Trustee and any predecessor Trustee under Section 10.07 have been made. No such rescission shall affect any subsequent default or impair any right consequent thereto. 

(b) Notwithstanding anything in the Indenture to the contrary, if the Company so elects, the sole remedy for any failure to comply with
Section 7.02 hereof shall, for 180 days following the occurrence of such an Event of Default, be limited to the payment of Additional Interest as provided in the following sentence. If the Company fails to comply with Section 7.02 hereof
to file periodic or other reports, the Company shall pay Additional Interest to all Holders at a rate per annum equal to 0.50% of the principal amount of the Securities to, but not including, the 181st day thereafter (or, if applicable, the earlier
date on which such Event of Default is waived). In no event shall Additional Interest accrue at an annual rate in excess of 0.50%, in the aggregate, pursuant to Section 7.10 hereof and this Section 9.02(b). If the Event of Default is
continuing on the 181st day after an Event of Default relating to a failure to comply with Section 7.02 first occurs, the Securities shall be subject to acceleration as provided in Section 9.02(a) hereof. All accrued and unpaid Additional
Interest arising under this paragraph, if any, shall be paid in arrears in Cash to Holders of the Securities by the Company on the Interest Payment Date on which interest in respect of the Securities for the same accrual period is paid, to the
Holders receiving such interest. The provisions of this Indenture described in this paragraph shall not affect the rights of the Holders in the event of the occurrence of any other Events of Default. 

  
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 In order to elect to pay additional interest as the sole remedy during the first 180 days
after the occurrence of an Event of Default relating to the failure to comply with Section 7.02 in accordance with the immediately preceding paragraph, the Company shall notify all Holders and the Trustee and Paying Agent in writing of such
election on or before the close of business on the fifth Business Day after the date on which such Event of Default otherwise would occur. Upon a failure by the Company to timely give such notice or pay additional interest, the Securities will
be immediately subject to acceleration as otherwise provided in this Section 9.02. 
 Section 9.03. Other
Remedies. 
 If an Event of Default with respect to Securities occurs and is continuing, the Trustee may, but shall not be
obligated to, pursue any available remedy to collect the payment of the principal of or any interest on, the Securities or to protect and enforce the rights vested in it by this Indenture, either by suit in equity or by action at law or by
proceeding in bankruptcy or otherwise, whether for the specific enforcement of any covenant or agreement contained in this Indenture or in aid of the exercise of any power granted in this Indenture, or to enforce any other legal or equitable right
vested in the Trustee by this Indenture or by law. 
 The Trustee may maintain a proceeding even if it does not possess any of
the Securities or does not produce any of them in the proceeding. A delay or omission by the Trustee or any Holder in exercising any right or remedy accruing upon an Event of Default shall not impair the right or remedy or constitute a waiver
of or acquiescence in the Event of Default. No remedy is exclusive of any other remedy. All available remedies are cumulative to the extent permitted by law. 
 Section 9.04. Waiver of Defaults and Events of Default. 
 Subject to
Section 9.02, 9.07 and 12.02, the Holders of a majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may waive an existing default or Event of Default and its consequence, except a default or
Event of Default in the payment of the principal of or interest on, any Security, a failure by the Company to pay the Cash and deliver the shares of Common Stock owing upon conversion of any Security within the time period required by this Indenture
or any default or Event of Default in respect of any provision of this Indenture or the Securities which, under Section 12.02, cannot be modified or amended without the consent of the Holder of each Security affected. When a default or
Event of Default is waived, it is cured and ceases. 
 Section 9.05. Control by Majority. 

The Holders of a majority in aggregate principal amount of the Securities then outstanding may direct the time, method and place of
conducting any proceeding for any remedy available to the Trustee or exercising any trust or power conferred on it. However, the Trustee may refuse to follow any direction that conflicts with law or this Indenture, that the Trustee determines
may be unduly prejudicial to the rights of another Holder or the Trustee or that may 

  
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involve the Trustee in personal liability unless the Trustee is offered security or indemnity satisfactory to it against the costs, expenses and liabilities which might be incurred by it in
compliance with such request or direction; provided, however, that the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction. 

Section 9.06. Limitations on Suits. 
 A Holder of a Security may not pursue any remedy with respect to this Indenture or the Securities (except actions for payment of overdue principal, premium, if any, or interest or for the conversion of
the Securities pursuant to Article 5) unless: 
 (a) the Holder personally gives to the Trustee written notice of a
continuing Event of Default; 
 (b) the Holders of at least 25% in aggregate principal amount of the then outstanding Securities
make a written request to the Trustee to pursue the remedy; 
 (c) such Holder or Holders offer to the Trustee security or
indemnity satisfactory to the Trustee against any loss, liability or expense; 
 (d) the Trustee does not comply with the
request within 60 days after receipt of the request and the offer of indemnity; and 
 (e) no direction inconsistent with such
written request has been given to the Trustee during such 60-day period by the Holders of a majority in aggregate principal amount of the Securities then outstanding. 
 A Holder may not use this Indenture to prejudice the rights of another Holder or to obtain a preference or priority over such other Holder, it being understood that the Trustee does not have an
affirmative duty to ascertain whether or not a Holder’s actions or forbearances constitute such prejudicial use. 

Section 9.07. Rights of Holders to Receive Payment and to Convert. 

Notwithstanding any other provision of this Indenture, the right of any Holder of a Security to receive payment of the principal of and
interest on the Security, on or after the respective due dates expressed in the Security and this Indenture, to convert such Security in accordance with Article 5 and to bring suit for the enforcement of any such payment on or after such
respective dates or the right to convert, is absolute and unconditional and shall not be impaired or affected without the consent of the Holder. 
 Section 9.08. Collection Suit by Trustee. 
 If an Event of Default in
the payment of principal, premium, if any, or interest specified in clause (a), (b), (c) or (e) of Section 9.01 occurs and is continuing, the Trustee may recover judgment in its own name and as trustee of an express trust against the
Company or another obligor on the Securities for the whole amount of principal and accrued interest remaining unpaid, and such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable
compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. 

  
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 Section 9.09. Trustee May File Proofs of Claim. 

The Trustee may file such proofs of claim and other papers or documents as may be necessary or advisable in order to have the claims of
the Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel) and the Holders allowed in any judicial proceedings relative to the Company (or any other obligor on the
Securities), its creditors or its property and shall be entitled and empowered to collect and receive any money or other property payable or deliverable on any such claims and to distribute the same, and any Custodian in any such judicial proceeding
is hereby authorized by each Holder to make such payments to the Trustee and, in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due to it for the reasonable
compensation, expenses, disbursements and advances of the Trustee, its agents and counsel and any other amounts due the Trustee under Section 10.07, and to the extent that such payment of the reasonable compensation, expenses, disbursements and
advances in any such proceedings shall be denied for any reason, payment of the same shall be secured by a lien on, and shall be paid out of, any and all distributions, dividends, money, securities and other property which the Holders may be
entitled to receive in such proceedings, whether in liquidation or under any plan of reorganization or arrangement or otherwise. The Trustee may, on behalf of the Holders, vote for the election of a trustee in bankruptcy or similar official and
be a member of a creditors’ committee or other similar committee. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to, or, on behalf of any Holder, to authorize, accept or adopt, any plan of
reorganization, arrangement, adjustment or composition affecting the Securities or the rights of any Holder thereof or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding. 

Section 9.10. Priorities. 
 If the Trustee collects any money or property pursuant to this Article 9, and after an Event of Default any money or other property distributable in respect of the Company’s or obligations under
this Indenture, such money or property shall be paid or distributed in the following order: 
 First, to the Trustee and any
predecessor Trustee for amounts due under Section 10.07; 
 Second, to Holders for amounts due and unpaid on the Securities
for principal and interest ratably, without preference or priority of any kind, according to the amounts due and payable on the Securities for principal and interest, respectively; and 

Third, the balance, if any, to the Company. 
 The Trustee may fix a record date and payment date for any payment to Holders pursuant to this Section 9.10. 

  
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 Section 9.11. Undertaking for Costs. 

In any suit for the enforcement of any right or remedy under this Indenture or in any suit against the Trustee for any action taken or
omitted by it as Trustee, a court in its discretion may require the filing by any party litigant in the suit of an undertaking to pay the costs of the suit, and the court in its discretion may assess reasonable costs, including reasonable
attorneys’ fees and expenses (whether incurred before trial, at trial or on appeal or in any bankruptcy, arbitration or other administrative proceeding), 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 9.11 does not apply to a suit made by the Trustee, a suit by a Holder pursuant to Section 9.07 or a suit by Holders of more than 10% in aggregate principal amount of the
Securities then outstanding. 
 ARTICLE 10 
 TRUSTEE 
 Section 10.01. Duties of Trustee. 

(a) If an Event of Default has occurred and is continuing, the Trustee shall exercise such of the rights and powers vested in it by this
Indenture and use the same degree of care and skill in its exercise as a prudent person would exercise or use under the circumstances in the conduct of his or her own affairs. 
 (b) Except during the continuance of an Event of Default: 
 (i)
the Trustee need perform only those duties as are specifically set forth in this Indenture and no others and no implied covenants or obligations shall be read into this Indenture or the TIA against the Trustee; and 

(ii) in the absence of bad faith on its part, the Trustee may conclusively rely, without investigation as to the truth of
the statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture but need not verify the content thereof. The Trustee, however, shall
examine any certificates and opinions which by any provision hereof are specifically required to be delivered to the Trustee to determine whether or not they conform to the requirements of this Indenture, but need not confirm or investigate the
accuracy of mathematical calculations or other facts stated therein. 
 (c) The Trustee may not be relieved from liability for
its own negligent action, its own negligent failure to act or its own willful misconduct, except that: 
 (i)
this paragraph does not limit the effect of subsection (b) of this Section 10.01; 
 (ii) the
Trustee shall not be liable for any error of judgment made in good faith by a Trust Officer, unless it is proved that the Trustee was negligent in ascertaining the pertinent facts; and 

  
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 (iii) the Trustee shall not be liable with respect to any action it takes
or omits to take in good faith in accordance with a request, consent or direction received by it pursuant to Section 9.02, 9.04 or 9.05 from Holders of the aggregate principal amount of the Securities then outstanding specified in such
sections. 
 (d) No provision of this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur any
financial liability in the performance of any of its duties hereunder or in the exercise of any of its rights or powers unless the Trustee shall have received adequate security or indemnity in its opinion against potential costs and liabilities
incurred by it relating thereto. 
 (e) Every provision of this Indenture that in any way relates to the Trustee is subject to
subsections (a), (b), (c) and (d) of this Section 10.01. 
 (f) The Trustee shall not be liable for interest on
any money received by it except as the Trustee may agree in writing with the Company. Money or other property held in trust by the Trustee need not be segregated from other funds except to the extent required by law. 

(g) The Trustee shall not be required to give any bond or surety in respect of the performance of its powers or duties hereunder. The
permissive right of the Trustee to do things enumerated in this Indenture shall not be construed as a duty of the Trustee. 

Section 10.02. Rights of Trustee. 
 Subject to Section 10.01: 
 (a) The Trustee may rely conclusively on any
document (whether in its original or facsimile form) believed by it to be genuine and to have been signed or presented by the proper person. The Trustee need not investigate any fact or matter stated in the document. 

(b) Before the Trustee acts or refrains from acting, or to establish matters, it may require and shall be entitled to receive an
Officers’ Certificate or an Opinion of Counsel or both, which shall conform to Section 13.04(b). The Trustee shall not be liable for any action it takes or omits to take in good faith in reliance on such Officers’ Certificate or
Opinion of Counsel. 
 (c) The Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either
directly or by or through agents, attorneys, or independent contractors and shall not be responsible for any misconduct or negligence on the part of any agent, attorney or independent contractor appointed with due care. 

(d) The Trustee shall not be liable for any action it takes or omits to take in good faith which it believes to be authorized or within
its rights or powers. 
 (e) The Trustee may consult with counsel of its selection, and the advice or opinion of such counsel as
to matters of law shall be full and complete authorization and protection in respect of any such action taken, omitted or suffered by it hereunder in good faith and in accordance with the advice or opinion of such counsel. 

  
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 (f) The Trustee shall be under no obligation to exercise any of the rights or powers vested
in it by this Indenture at the request or direction of any of the Holders pursuant to this Indenture, unless such Holders shall have offered to the Trustee security or indemnity satisfactory to the Trustee against the costs, expenses and liabilities
which might be incurred by it in compliance with such request or direction. 
 (g) The Trustee shall not be bound to make any
investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document, or
inquire as to the performance by the Company or any of its covenants in this Indenture, but the Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee shall
determine to make such further inquiry or investigation, it shall be entitled to examine the books, records and premises of the Company, personally or by agent or attorney at the sole cost of the Company, and shall incur no liability or additional
liability of any kind by reason of such inquiry or investigation. 
 (h) The Trustee shall not be required to take notice or be
deemed to have knowledge of any Default or Event of Default unless a Trust Officer of the Trustee has actual knowledge thereof or unless written notice from the Company or from the Holders of at least 25% of the aggregate principal amount of
Securities then outstanding of any event which is in fact such a default is received by the Trustee at the Corporate Trust Office, and such notice references the Securities and this Indenture. The Trustee shall not be charged with the knowledge of
the Company’s obligation to pay Additional Interest, or the cessation of such obligation, unless the Trustee receives written notice thereof from the Company or any Holder. 

(i) The rights, privileges, protections, immunities and benefits given to the Trustee, including, without limitation, its right to be
compensated, reimbursed and indemnified, are extended to, and shall be enforceable by, each Agent, the Trustee in each of its capacities hereunder, and to each agent, custodian and other Person employed to act hereunder (including, but not limited
to, the Paying Agent or Conversion Agent). 
 (j) Unless otherwise specifically provided in this Indenture, any demand, request,
direction or notice from the Company shall be sufficiently evidenced by a Company Order, an Officers’ Certificate, or written order signed by one Officer of the Company. 
 (k) In no event shall 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. 
 (l) The Trustee may request that the Company deliver a certificate setting forth the names of individuals and/or titles of Officers authorized at such time to take specified actions pursuant to this
Indenture. 

  
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 Section 10.03. Monies Held in Trust. 

Subject to the provisions of Section 11.03, all monies and properties received by the Trustee shall, until used or applied as herein
provided, be held in trust for the purposes for which they were received. Money held by the Trustee in trust hereunder need not be segregated from other funds except to the extent required by law. The Trustee shall be under no liability for interest
on any money received by it hereunder except as may be agreed in writing from time to time by the Company and the Trustee. 

Section 10.04. Trustee’s Disclaimer. 
 The Trustee makes no representation as to the validity or adequacy of this Indenture or the Securities or the Common Stock, it shall not be accountable for the Company’s use of the proceeds from the
Securities or any money or property paid in accordance with this Indenture, and it shall not be responsible for any statement herein or in the Securities or any other document in connection with the sale of the Securities or pursuant to this
Indenture other than its certificate of authentication. 
 Section 10.05. Notice of Default or Events of Default.

 If a default or an Event of Default occurs and is continuing and if it is known to a Trust Officer of the Trustee, the
Trustee shall mail to each Holder notice of the default or Event of Default within 90 days after it becomes known to the Trustee. However, the Trustee may withhold the notice if and so long as a committee of its Trust Officers in good faith
determines that withholding notice is in the interests of Holders, except in the case of a default or an Event of Default in payment of the principal of or interest on any Security, including the failure to make Cash payments due upon conversion.

 Section 10.06. Reports by Trustee to Holders. 

If such report is required by TIA Section 313, within 60 days after each May 1, beginning with the May 1 following the
date of this Indenture, the Trustee shall mail to each Holder a brief report dated as of such May 1 that complies with TIA Section 313(a). The Trustee also shall comply with TIA Section 313(b)(2) and (c). 

A copy of each report at the time of its mailing to Holders shall be mailed to the Company and filed with the SEC and each stock
exchange, if any, on which the Securities are listed. The Company shall notify the Trustee whenever the Securities become listed on any stock exchange or listed or admitted to trading on any quotation system and any changes in the stock
exchanges or quotation systems on which the Securities are listed or admitted to trading and of any delisting thereof. 

Section 10.07. Compensation and Indemnity. 
 The Company shall pay to the Trustee from time to time such compensation (as agreed to from time to time by the Company and the Trustee in writing) for its services (which compensation shall not be
limited by any provision of law in regard to the compensation of a trustee of an express trust). The Company shall reimburse the Trustee upon request for all 

  
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reasonable disbursements, expenses and advances incurred or made by it. Such expenses may include the reasonable compensation, disbursements and expenses of the Trustee’s agents and
counsel. 
 The Company shall indemnify the Trustee or any predecessor Trustee (which for purposes of this Section 10.07
shall include its officers, directors, employees and agents) for, and hold it harmless against, any and all loss, claim, damage, liability or expense, including taxes (other than taxes based upon, measured by or determined by the income of the
Trustee), including reasonable legal fees and expenses, incurred by it in connection with the acceptance or administration or performance of its duties or any action or failure to act as authorized or within the discretion or rights or powers
conferred upon the Trustee hereunder, including the reasonable costs and expenses of the Trustee and its counsel enforcing this Indenture (including this Section 10.07) and the Securities and in defending itself against any claim or liability
(whether asserted by the Company, any Holder or any other Person) in connection with the exercise or performance of any of its rights, powers or duties hereunder. The Trustee shall notify the Company promptly of any claim asserted against the
Trustee for which it may seek indemnity, but the failure to so notify the Company shall not relieve it from any obligation. The Company need not pay for any settlement without its written consent, which shall not be unreasonably withheld.

 The Company need not reimburse the Trustee for any expense or indemnify it against any loss or liability incurred by it
resulting from its gross negligence or willful misconduct. 
 To secure the Company’s payment obligations in this
Section 10.07, the Trustee shall have a lien prior to the Securities as to all money or property held or collected by the Trustee for any amount owing it or any predecessor Trustee pursuant to this Section 10.07, except such money or
property held in trust for the benefit of holders of particular Securities. The obligations of the Company under this Section 10.07 shall survive the satisfaction and discharge of this Indenture or the resignation or removal of the Trustee.

 When the Trustee incurs expenses or renders services after an Event of Default specified in clause (i) or (j) of
Section 9.01 occurs, the expenses and the compensation for the services are intended to constitute expenses of administration under any Bankruptcy Law. The provisions of this Section shall survive the termination of this Indenture.

 “Trustee” for the purposes of this Section 10.07 shall include any predecessor Trustee and the Trustee in each
of its capacities hereunder and each agent, custodian and other person employed to act hereunder; provided, however, that the gross negligence or willful misconduct of any Trustee hereunder shall not affect the rights of any other
Trustee hereunder. 
 Section 10.08. Replacement of Trustee. 

The Trustee may resign by so notifying the Company. The Holders of a majority in aggregate principal amount of the Securities then
outstanding may remove the Trustee by so notifying the Trustee and may, with the Company’s written consent, appoint a successor Trustee. The Company may remove the Trustee if: 

(a) the Trustee fails to comply with Section 10.10; 

  
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 (b) the Trustee is adjudged a bankrupt or an insolvent; 

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

(d) the Trustee becomes incapable of acting. 
 If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Company shall promptly appoint a successor Trustee. The resignation or removal of a Trustee
shall not be effective until a successor Trustee shall have delivered the written acceptance of its appointment as described below. 
 If a successor Trustee does not take office within 45 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Company or the Holders of 10% in principal amount of the Securities
then outstanding may petition any court of competent jurisdiction for the appointment of a successor Trustee at the expense of the Company. 
 If the Trustee fails to comply with Section 10.10, any Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. 

A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Immediately
after that, the retiring Trustee shall, upon payment of any fees and expenses due and owing to it hereunder, transfer all property held by it as Trustee to the successor Trustee and be released from its obligations (exclusive of any liabilities that
the retiring Trustee may have incurred while acting as Trustee) hereunder, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this
Indenture. A successor Trustee shall mail notice of its succession to each Holder. 
 A retiring Trustee shall not be
liable for the acts or omissions of any successor Trustee after its succession. 
 Notwithstanding replacement of the Trustee
pursuant to this Section 10.08, the Company’s obligations and the lien under Section 10.07 shall continue for the benefit of the retiring Trustee. 
 Section 10.09. Successor Trustee by Merger, etc. 
 If the Trustee
consolidates with, merges or converts into, or transfers all or substantially all of its corporate trust assets (including the administration of this Indenture) to, another corporation, the resulting, surviving or transferee corporation, without any
further act, shall be the successor Trustee, provided such transferee corporation shall qualify and be eligible under Section 10.10. Such successor Trustee shall promptly mail notice of its succession to the Company and each Holder.

  
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 Section 10.10. Eligibility; Disqualification. 

The Trustee shall always satisfy the requirements of paragraphs (1), (2) and (5) of TIA Section 310(a). The Trustee
(or its parent holding company) shall have a combined capital and surplus of at least $50,000,000. If at any time the Trustee shall cease to satisfy any such requirements, it shall resign immediately in the manner and with the effect specified
in this Article 10. The Trustee shall be subject to the provisions of TIA Section 310(b). There shall be excluded from the operation of TIA Section 310(b)(i) any indenture or indentures under which other securities or
certificates of interest or participation in other securities of the Company are outstanding if the requirements for such exclusion set forth in TIA Section 310(b) are met. Nothing herein shall prevent the Trustee from filing with the SEC the
application referred to in the penultimate paragraph of TIA Section 310(b). 
 Section 10.11. Preferential
Collection of Claims Against Company. 
 The Trustee shall comply with TIA Section 311(a), excluding any creditor
relationship listed in TIA Section 311(b). A Trustee who has resigned or been removed shall be subject to TIA Section 311(a) to the extent indicated therein. 

Section 10.12. Trustee or Agents May Hold Securities 

The Trustee, any Paying Agent, any Registrar or any other agent of the Company, in its individual or any other capacity, may become the
owner or pledgee of Securities and, subject to Sections 10.10 and 10.11, may otherwise deal with the Company with the same rights it would have if it were not Trustee, Paying Agent, Registrar or such other agent. 

ARTICLE 11 

SATISFACTION AND DISCHARGE 
 Section 11.01. Satisfaction and Discharge. 
 (a) This Indenture shall
cease to be of further effect, and the Trustee, on demand of and at the expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge of this Indenture, when 

(i) all Securities theretofore authenticated and delivered (other than (i) Securities which have been
destroyed, lost or stolen and which have been replaced or paid as provided in Section 2.07 and (ii) Securities for whose payment money has theretofore been deposited in trust and thereafter repaid to the Company as provided in
Section 11.03) have been delivered to the Trustee for cancellation; 
 (ii) the Company has paid or caused
to be paid all other sums payable hereunder by the Company; and 
 (iii) the Company has delivered to the
Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions precedent herein provided for relating to the satisfaction and discharge of this Indenture have been complied with. 

  
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 Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the
Company to the Trustee under Section 10.07 shall survive. 
 (b) The Company may discharge its obligations to pay principal
of and interest on the Securities when all Securities not theretofore delivered to the Trustee for cancellation have become due and payable and the Company has irrevocably deposited or caused to be irrevocably deposited with the Trustee or
a Paying Agent (other than the Company or any of its Affiliates) as trust funds in trust for such purpose Cash or Cash and shares of Common Stock, if any (solely to satisfy outstanding conversions, if applicable), in an amount sufficient to pay and
discharge the entire indebtedness on such Securities not theretofore delivered to the Trustee for cancellation for principal (including premium, if any) and accrued and unpaid interest thereon, to the date of such deposit (in the case of Securities
that have become due and payable), or to the Maturity Date, or Redemption Date or Fundamental Change Purchase Date, as the case may be; provided, however, that the foregoing shall not affect the obligations of the Company to the
Trustee under Section 10.07 hereof. 
 Section 11.02. Application of Trust Money. 

Subject to the provisions of Section 11.03, the Trustee or a Paying Agent shall hold in trust, for the benefit of the Holders of
Securities, all money deposited with it pursuant to Section 11.01(b) with respect to Securities and shall apply the deposited money in accordance with this Indenture and the Securities to the payment of the principal of and any interest on the
Securities. 
 Section 11.03. Repayment to Company. 

The Trustee and each Paying Agent shall promptly pay to the Company upon request any excess money (i) deposited with them pursuant
to Section 11.01(b) and (ii) held by them at any time. 
 The Trustee and each Paying Agent shall pay to the
Company upon request any money held by them for the payment of principal or interest that remains unclaimed for two years after a right to such money has matured; provided, however, that the Trustee or such Paying Agent, before being
required to make any such payment, may at the expense of the Company cause to be mailed to each Holder entitled to such money notice that such money remains unclaimed and that after a date specified therein, which shall be at least 30 days from the
date of such mailing, any unclaimed balance of such money then remaining shall be repaid to the Company. After payment to the Company, Holders entitled to money must look to the Company for payment as general creditors unless an applicable
abandoned property law designates another person. 
 Section 11.04. Reinstatement. 

If the Trustee or any Paying Agent is unable to apply any money in accordance with Section 11.02 by reason of any legal proceeding
or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, then the Company’s obligations under this Indenture and the Securities shall be revived and
reinstated as though no deposit had occurred pursuant to Section 11.01(b) until such time as the 

  
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Trustee or such Paying Agent is permitted to apply all such money in accordance with Section 11.02; provided, however, that, if the Company has made any payment of the
principal of or interest on any Securities because of the reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders of such Securities to receive any such payment from the money held by the Trustee or such Paying
Agent. 
 ARTICLE 12 
 AMENDMENTS, SUPPLEMENTS AND WAIVERS 
 Section 12.01. Without
Consent of Holders. 
 The Company, when authorized by a resolution of the Board of Directors, and the Trustee may amend or
supplement the Indenture or the Securities without notice to or consent of any Holder: 
 (a) to comply with Section 5.11
and 8.01; 
 (b) to cure any ambiguity, or correct any defect or inconsistency; 

(c) to make any other change that does not adversely affect the rights of any Holder; 

(d) to comply with the provisions of the TIA; 
 (e) to add to the covenants of the Company for the equal and ratable benefit of the Holders or to surrender any right, power or option conferred upon the Company; 

(f) to appoint a successor Trustee; or 
 (g) to provide for the issuance of Additional Securities as permitted by Section 2.16, which will have terms substantially identical to the other outstanding Securities except as specified in
Section 2.16, and which will be treated, together with any other outstanding Securities, as a single issue of securities. 

Section 12.02. With Consent of Holders. 
 The Company and the Trustee may amend or supplement the Securities or this Indenture with the written consent of the Holders of at least a majority in aggregate principal amount of the Securities then
outstanding. The Holders of at least a majority in aggregate principal amount of the Securities then outstanding may waive compliance in a particular instance by the Company with any provision of the Securities or this Indenture without notice to
any Holder. However, notwithstanding the foregoing but subject to Section 12.04, without the written consent of each Holder affected, an amendment, supplement or waiver, including a waiver pursuant to Section 9.04, may not: 

(a) change the Stated Maturity of, or the date any installment of interest (including any Additional Interest) is due on, any Security;

  
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 (b) reduce the principal amount of or interest (including any Additional Interest) on, any
Security; 
 (c) reduce the amount of principal payable upon acceleration of the maturity of any Security; 

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

(e) impair the right of any Holder to receive payment of principal and of interest on such Holder’s Securities on or after the due
date therefore or to institute suit for the enforcement of any payment on, or with respect to, any Security; 
 (f) modify the
provisions with respect to the purchase right of Holders pursuant to Article 3 upon a Fundamental Change in a manner adverse to the Holders of Securities; 
 (g) modify the redemption provisions of Article 6 in a manner adverse to the Holders of Securities; 
 (h) change the ranking of the Securities; 
 (i) modify the provisions of this
Indenture with respect to conversion of the Securities in a manner adverse to the Holders of Securities; and 
 (j) modify any
of the provisions of this Section or Section 9.04, except to increase any such percentage or to provide that certain provisions of this Indenture cannot be modified, amended or waived without the consent of the Holder of each outstanding
Security affected thereby. 
 It shall not be necessary for the consent of the Holders under this Section 12.02 to approve
the particular form of any proposed amendment, supplement or waiver, but it shall be sufficient if such consent approves the substance thereof. 
 Section 12.03. Reserved. 
 Section 12.04. Revocation and
Effect of Consents. 
 Until an amendment, supplement or waiver becomes effective, a consent to it by a Holder is a
continuing consent by the Holder and every subsequent Holder of a Security or portion of a Security that evidences the same debt as the consenting Holder’s Security, even if notation of the consent is not made on any Security. However, any
such Holder or subsequent Holder may revoke the consent as to its Security or portion of a Security if the Trustee receives the notice of revocation before the date the amendment, supplement or waiver becomes effective. 

After an amendment, supplement or waiver becomes effective, it shall bind every applicable Holder, unless it makes a change described in
any of clauses (a) through (j) of Section 12.02. In that case the amendment, supplement or waiver shall bind each Holder of a Security who has consented to it and every subsequent Holder of a Security or portion of a Security that
evidences the same debt as the consenting Holder’s Security. 

  
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 Section 12.05. Notation on or Exchange of Securities. 

If an amendment, supplement or waiver changes the terms of a Security, the Trustee may require the Holder of the Security to deliver it
to the Trustee. The Trustee may place an appropriate notation on the Security about the changed terms and return it to the Holder. Alternatively, if the Company or the Trustee so determines, the Company in exchange for the Security shall
issue and the Trustee shall authenticate a new Security that reflects the changed terms. 
 Section 12.06. Trustee to
Sign Amendments, etc. 
 The Trustee shall sign any amendment or supplemental indenture authorized pursuant to this
Article 12 if the amendment or supplemental indenture does not adversely affect the rights, duties, liabilities or immunities of the Trustee. If it does, the Trustee may, in its sole discretion, but need not sign it. In signing or
refusing to sign such amendment or supplemental indenture, the Trustee shall be provided with, and, subject to Section 10.01, shall be fully protected in relying upon, a Company Order requesting execution (accompanied by a resolution of the
Board of Directors of the Company), an Officers’ Certificate and an Opinion of Counsel in accordance with Section 13.04 hereof, each stating that such amendment or supplemental indenture is authorized or permitted by this Indenture, and an
Opinion of Counsel stating that such amendment or supplemental indenture constitutes the legal, valid and binding obligation of the Company, subject to customary exceptions. The Company may not sign an amendment or supplement indenture until
the Board of Directors approves it. 
 Section 12.07. Effect of Supplemental Indentures. 

Upon the execution of any supplemental indenture under this Article, this Indenture shall be modified in accordance therewith, and such
supplemental indenture shall form a part of this Indenture for all purposes; and every Holder of Securities theretofore or thereafter authenticated and delivered hereunder shall be bound thereby. After an amendment, supplement or waiver under this
Article 12 becomes effective, the Company shall mail or send electronically pursuant to Applicable Procedures to the Holders affected thereby a notice briefly describing the amendment, supplement or waiver. Any failure of the Company to mail
such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such amendment, supplement or waiver.
 ARTICLE 13 
 MISCELLANEOUS 

Section 13.01. Trust Indenture Act Controls. 
 If any provision of this Indenture limits, qualifies or conflicts with another provision which is required to be included in this Indenture by the Trust Indenture Act, if any, the provision required by
the Trust Indenture Act shall control. 

  
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 Section 13.02. Notices. 

Any demand, authorization, notice, request, consent or communication shall be given in writing and delivered in person or sent by
nationally recognized overnight courier or mailed by first-class mail, postage prepaid, addressed as follows or transmitted by facsimile transmission (confirmed by delivery in person or mail by first-class mail, postage prepaid, or by guaranteed
overnight courier) to the following facsimile numbers: 
 If to the Company, to: 

TeleCommunication Systems, Inc. 
 275 West Street, 
 Annapolis, Maryland 21401 

Attention: Chief Legal Officer 
 Facsimile No.: (410) 263-7617 
 if to the Trustee, to: 

The Bank of New York Mellon Trust Company, N.A. 

525 William Penn Place, 38th Floor 
 Pittsburgh, PA 15259 
 Attention: Corporate Trust Administration 

Facsimile No.: (412) 234-7571 
 Such notices or communications shall be effective when received. 
 The Company or
the Trustee by notice to the other may designate additional or different addresses for subsequent notices or communications. 

Any notice or communication mailed to a Holder shall be mailed by first-class mail or delivered by an overnight delivery service to it at
its address shown on the register kept by the Primary Registrar. Where this Indenture or any Security provides for notice of any event (including any notice of redemption or repurchase) to a Holder of a Global Security (whether by mail or
otherwise), such notice shall be sufficiently given if given to the Depositary (or its designee) pursuant to the standing instructions from the Depositary or its designee, including by electronic mail in accordance with Applicable Procedures.

 Failure to mail a notice or communication to a Holder or any defect in it shall not affect its sufficiency with respect to
other Holders. If a notice or communication to a Holder is mailed in the manner provided above, it is duly given, whether or not the addressee receives it. 
 Section 13.03. Communications by Holders with Other Holders. 
 Holders
may communicate pursuant to TIA Section 312(b) with other Holders with respect to their rights under this Indenture or the Securities. The Company, the Trustee, the Registrar, each Agent and any other person shall have the protection of TIA
Section 312(c). 

  
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– 

 Section 13.04. Certificate and Opinion as to Conditions Precedent. 

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

(ii) an Opinion of Counsel stating that, in the opinion of such counsel, all such conditions precedent (including any
covenants, compliance with which constitutes a condition precedent) have been complied with. 
 (b) Each Officers’
Certificate and Opinion of Counsel with respect to compliance with a condition or covenant provided for in this Indenture shall include: 
 (i) a statement that the person making such certificate or opinion has read such covenant or condition; 
 (ii) a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained in such certificate or opinion are based; 

(iii) a statement that, in the opinion of such person, he or she has made such examination or investigation as is
necessary to enable him or her to express an informed opinion as to whether or not such covenant or condition has been complied with; and 
 (iv) a statement as to whether or not, in the opinion of such person, such condition or covenant has been complied with; 
 provided, however, that with respect to matters of fact an Opinion of Counsel may rely on an Officers’ Certificate or certificates of public officials. 

Section 13.05. Record Date for Vote or Consent of Securityholders. 

The Company (or, in the event deposits have been made pursuant to Section 11.01, the Trustee) may set a record date for purposes of
determining the identity of Holders entitled to vote or consent to any action by vote or consent authorized or permitted under this Indenture, which record date shall not be more than 30 days prior to the date of the commencement of solicitation of
such action. Notwithstanding the provisions of Section 12.04, if a record date is fixed, those persons who were Holders of Securities at the close of business on such record date (or their duly designated proxies), and only those persons,
shall be entitled to take such action by vote or consent or to revoke any vote or consent previously given, whether or not such persons continue to be Holders after such record date. 

  
 – 68
– 

 Section 13.06. Rules by Trustee, Paying Agent, Registrar and Conversion
Agent. 
 The Trustee may make reasonable rules (not inconsistent with the terms of this Indenture) for action by or at
a meeting of Holders. Any Registrar, Paying Agent or Conversion Agent may make reasonable rules for its functions. 

Section 13.07. Legal Holidays. 
 A “Legal Holiday” is a Saturday, Sunday or a day on which state or federally chartered banking institutions in New York, New York are not required to be open. If a payment date is a
Legal Holiday, payment shall be made on the next succeeding day that is not a Legal Holiday, and no interest shall accrue for the intervening period. If a regular record date is a Legal Holiday, the record date shall not be affected.

 Section 13.08. Governing Law. 
 This Indenture and the Securities shall be governed by, and construed in accordance with, the laws of the State of New York applicable to contracts made and to be performed in such state. 

Section 13.09. No Adverse Interpretation of Other Agreements. 

This Indenture may not be used to interpret another indenture, loan or debt agreement of the Company or a Subsidiary of the
Company. Any such indenture, loan or debt agreement may not be used to interpret this Indenture. 
 Section 13.10.
No Recourse Against Others. 
 No recourse for the payment of the principal of or premium, if any, or interest on any
Security, or for any claim based thereon or otherwise in respect thereof, and no recourse under or upon any obligation, covenant or agreement of the Company in this Indenture or in any supplemental indenture or in any Security, or because of the
creation of any indebtedness represented thereby, shall be had against any incorporator, stockholder, employee, agent, officer, director or subsidiary, as such, past, present or future, of the Company or of any successor corporation, either directly
or through the Company or any successor corporation, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise; it being expressly understood that all such liability is hereby
expressly waived and released as a condition of, and as a consideration for, the execution of this Indenture and the issue of the Securities. 
 Section 13.11. Successors. 
 All agreements of the Company in this
Indenture and the Securities shall bind its successors. All agreements of the Trustee in this Indenture shall bind its successors. 

  
 – 69
– 

 Section 13.12. Multiple Counterparts. 

The parties may sign multiple counterparts of this Indenture. Each signed counterpart shall be deemed an original, but all of them
together represent the same agreement. The exchange of copies of this Indenture and of signature pages by facsimile or PDF transmission shall constitute effective execution and delivery of this Indenture as to the parties hereto and may be used in
lieu of the original Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile or PDF shall be deemed to be their original signatures for all purposes. 

Section 13.13. Severability. 
 In case any provisions in this Indenture or in the Securities shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be
affected or impaired thereby. 
 Section 13.14. Table of Contents, Headings, etc. 

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

Section 13.15. Force Majeure. 
 In no event shall the Trustee be responsible or liable for any failure or delay in the performance of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its
control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities,
communications or computer (software and hardware) services; it being understood that the Trustee shall use reasonable efforts which are consistent with accepted practices in the banking industry to resume performance as soon as practicable under
the circumstances. 
 Section 13.16. Waiver of Jury Trial. 

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

Section 13.17. No Security Interest Created. 
 Nothing in this Indenture or in the Securities, expressed or implied, shall 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 in which property of the Company or its Subsidiaries is located. 

  
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– 

 Section 13.18. Benefits of Indenture. 

Nothing in this Indenture or in the Securities, express or implied, shall give to any Person, other than the parties hereto, any Paying
Agent, any authenticating agent, any Security Registrar and their successors hereunder and the holders of Securities any benefit or any legal or equitable right, remedy or claim under this Indenture. 

Section 13.19. Consent to Jurisdiction. 
 Any legal suit, action or proceeding arising out of or based upon this Indenture or the transactions contemplated hereby (“Related Proceedings”) may be instituted in the federal courts of
the United States of America located in the City of New York or the courts of the State of New York in each case located in the City of New York (collectively, the “Specified Courts”), and each party irrevocably submits to the non
exclusive jurisdiction of such courts in any such suit, action or proceeding. Service of any process, summons, notice or document by mail (to the extent allowed under any applicable statute or rule of court) to such party’s address set forth
above shall be effective service of process for any suit, action or other proceeding brought in any such court. The parties irrevocably and unconditionally waive any objection to the laying of venue of any suit, action or other proceeding in the
Specified Courts and irrevocably and unconditionally waive and agree not to plead or claim any such suit, action or other proceeding has been brought in an inconvenient forum. 
 [SIGNATURE PAGE FOLLOWS] 

  
 – 71
– 

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

					
	TELECOMMUNICATION SYSTEMS, INC.
		
	By:	 	 /s/ Thomas M. Brandt, Jr.

		 	Name:	 	Thomas M. Brandt, Jr.
		 	Title:	 	Sr. Vice President & CFO
	
	 THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,
as Trustee

		
	By:	 	 /s/ Lawrence M. Kusch

		 	Name:	 	Lawrence M. Kusch
		 	Title:	 	Vice President

  
 – 72
– 

 EXHIBIT A 
 [FORM OF FACE OF SECURITY] 
 [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO TELECOMMUNICATION SYSTEMS, INC. (THE “COMPANY”) OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT HEREON IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE
OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]1 
 [THIS
SECURITY AND THE CLASS A COMMON STOCK, IF ANY, ISSUABLE UPON CONVERSION OF THIS SECURITY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE
TRANSFERRED EXCEPT IN ACCORDANCE WITH THE FOLLOWING SENTENCE. BY ITS ACQUISITION HEREOF OR OF A BENEFICIAL INTEREST HEREIN, THE ACQUIRER: 
 1. REPRESENTS THAT IT AND ANY ACCOUNT FOR WHICH IT IS ACTING IS A “QUALIFIED INSTITUTIONAL BUYER” (WITHIN THE MEANING OF RULE 144A UNDER THE SECURITIES ACT) AND THAT IT EXERCISES SOLE INVESTMENT
DISCRETION WITH RESPECT TO EACH SUCH ACCOUNT, AND 
 2. AGREES FOR THE BENEFIT OF TELECOMMUNICATION SYSTEMS, INC.
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 THEREUNDER, AND (Y) SUCH LATER DATE, IF ANY, AS MAY BE REQUIRED BY APPLICABLE LAW, EXCEPT: 
 (A) TO THE COMPANY OR ANY OF ITS SUBSIDIARIES, OR 
 (B) PURSUANT TO
A REGISTRATION STATEMENT WHICH HAS BECOME EFFECTIVE UNDER THE SECURITIES ACT, OR 
 (C) TO A QUALIFIED
INSTITUTIONAL BUYER IN COMPLIANCE WITH RULE 144A UNDER THE SECURITIES ACT, OR 
 (D) PURSUANT TO AN EXEMPTION
FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE SECURITIES ACT OR ANY OTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. 

 

	1 	This paragraph should be included only if the Security is a Global Security. 

  
 A-F-1

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

 

	2 	These paragraphs should be included only if the Security is a Transfer Restricted Security. 

  
 A-F-2

 TELECOMMUNICATION SYSTEMS, INC. 

 

			
	CUSIP:	  	No.

 7.75% CONVERTIBLE SENIOR NOTES DUE 2018 
 TeleCommunication Systems, Inc., a Maryland corporation (the “Company”, which term shall include any successor corporation under the Indenture referred to on the reverse hereof), promises to pay
to Cede & Co., or registered assigns, the principal sum of                     ($        ) on
June 30, 2018 [or such greater or lesser amount as is indicated on the Schedule of Exchanges of Securities on the reverse of this Security].3 
 The Company
shall pay interest at a rate of 7.75% per annum, on the principal amount of this Security payable as provided in the Indenture. The Company further agrees to pay Additional Interest as provided for, and under the circumstances specified in,
Sections 7.10 and 9.02(b) of the Indenture. 
 This Security is convertible as specified on the reverse of this Security. Additional provisions
of this Security are set forth on the reverse of this Security. 
 [SIGNATURE PAGE FOLLOWS] 

 

	3 	This phrase should be included only if the Security is a Global Security. 

  
 A-F-3

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

 

			
	TELECOMMUNICATION SYSTEMS, INC.
		
	By:	 	  

		 	Name:
		 	Title:

 Trustee’s Certificate of Authentication: This is one of the Securities referred to in the within-mentioned
Indenture. 
  

			
	 THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,
as Trustee

		
	By:	 	  

		 	Name:
		 	Title:

  
 A-F-4

 [FORM OF REVERSE OF SECURITY] 

TELECOMMUNICATION SYSTEMS, INC. 
 7.75% CONVERTIBLE SENIOR NOTES DUE 2018 
  

	1.	INTEREST AMOUNTS 

TeleCommunication Systems, Inc., a Maryland corporation (the “Company”, which term shall include any successor corporation under
the Indenture hereinafter referred to), shall pay interest, at a rate of 7.75% per annum, on the principal amount of this Security payable as provided in the Indenture. The Company further agrees to pay Additional Interest as provided for, and
under the circumstances specified in, Sections 7.10 and 9.02(b) of the Indenture. 
  

	2.	METHOD OF PAYMENT 

 The Company
shall pay any interest on this Security to the person who is the Holder of this Security at the close of business on June 15 or December 15, as the case may be, next preceding the related interest payment date. The Holder must surrender
this Security to a Paying Agent to collect payment of principal. Interest on the Security will be paid at a rate of 7.75% per annum, payable semi-annually in arrears on June 30 and December 30 of each year, or if any such day is not a
Business Day, the immediately following Business Day, commencing December 30, 2013. Interest is computed on the basis of a 360-day year comprised of twelve 30-day months. In the event of the maturity, conversion or purchase of the Security by
the Company at the option of the Holder, or upon redemption of a Security by the Company, interest shall cease to accrue on the Security. Notwithstanding any other provision hereof, however, the Company shall pay interest on the Maturity Date to the
Holder of this Security on the Record Date immediately preceding the Maturity Date in respect of the period ending with the Maturity Date regardless of whether such Holder converts this Security. 

 

	3.	PAYING AGENT, REGISTRAR AND CONVERSION AGENT 

 Initially, The Bank of New York Mellon Trust Company, N.A. (the “Trustee”, which term shall include any successor trustee under the Indenture hereinafter referred to) will act as Paying Agent,
Registrar and Conversion Agent. The Company may change any Paying Agent, Registrar or Conversion Agent without notice to the Holder. 
  

	4.	INDENTURE, LIMITATIONS 

 This
Security is one of a duly authorized issue of Securities of the Company designated as its 7.75% Convertible Senior Notes due 2018 (the “Securities”), issued under an Indenture, dated as of May 7, 2013 (together with any supplemental
indentures thereto, the “Indenture”), between the Company and the Trustee. The terms of this Security include those stated in the Indenture and those required by or made part of the Indenture by reference to the Trust Indenture Act of
1939, as amended, if any, as in effect on the date of the Indenture. This Security is subject to all such terms, and the Holder of this Security is referred to the Indenture and said Act for a statement of them. 

  
 A-R-1

	5.	REDEMPTION AT THE OPTION OF THE COMPANY 

 No sinking fund is provided for the Securities. The Securities are not redeemable by the Company prior to June 30, 2014. On or after June 30, 2014, the Securities may be redeemed for Cash, in
whole or in part, at the option of the Company. 
 The redemption price at which the Securities are redeemable (the
“Redemption Price”) shall be equal to the applicable purchase price (expressed as a percentage of the principal amount of the Securities to be redeemed) set forth below, if redeemed during the twelve-month period beginning on June 30
of the years indicated below, together with any accrued and unpaid interest to, the applicable Redemption Date; provided, that if the Redemption Date is on a date that is after a Record Date and on or prior to the related Interest Payment
Date, the Redemption Price shall not include accrued and unpaid interest on the principal amount of Securities redeemed. Instead, the Company shall pay such Interest on the Interest Payment Date to the Holder of record on the related Record Date.

  

					
	 Year
	  	Percentage	 
	 2014
	  	 	103	% 
	 2015
	  	 	102	% 
	 2016
	  	 	101	% 
	 2017
	  	 	100	% 

  

	6.	PURCHASE OF SECURITIES AT OPTION OF THE HOLDER UPON A FUNDAMENTAL CHANGE 

 At the option of the Holder and subject to the terms and conditions of the Indenture, the Company shall become obligated to purchase all or any part specified by the Holder (so long as the principal
amount of such part is $1,000 or an integral multiple of $1,000 in excess thereof) of the Securities held by such Holder on the date of the Company’s choosing that is not less than 20 or more than 35 Business Days after the date on which the
Company notifies the Holders of the Securities of the occurrence of the effective time of a Fundamental Change, at the applicable purchase price (expressed as a percentage of the principal amount of the Securities to be purchased) set forth below,
if such Fundamental Change Purchase Date occurs during the twelve-month period beginning on June 30 of the years indicated below (or, with respect to 2013, the period beginning on the Initial Issue Date and ending on June 29, 2014),
together with any accrued and unpaid interest to, but excluding, the Fundamental Change Purchase Date; provided, that if the Fundamental Change Purchase Date is on a date that is after a Record Date and on or prior to the related Interest
Payment Date, the Fundamental Change Purchase Price shall not include accrued and unpaid interest on the principal amount of Securities redeemed. Instead, the Company shall pay such Interest on the Interest Payment Date to the Holder of record on
the related Record Date. 

  
 A-R-2

					
	 Year
	  	Percentage	 
	 2013
	  	 	103	% 
	 2014
	  	 	103	% 
	 2015
	  	 	102	% 
	 2016
	  	 	101	% 
	 2017
	  	 	100	% 

 The Holder shall have the right to withdraw any Fundamental Change Purchase Notice (in whole or in a
portion thereof that is $1,000 or an integral multiple of $1,000 in excess thereof) at any time prior to 5:00 p.m. (New York City time) on the second Scheduled Trading Day next preceding the Fundamental Change Purchase Date by delivering a written
notice of withdrawal to the Paying Agent in accordance with the terms of the Indenture. 
  

	7.	CONVERSION 

 A Holder of a
Security may convert the principal amount of such Security (or any portion thereof equal to $1,000 or any integral multiple of $1,000 in excess thereof) into Common Stock at any time prior to the close of business on the second scheduled Trading
Date immediately preceding the maturity date pursuant to Section 5.01 of the Indenture. 
 The initial Conversion Price is
$10.348 per share, and the initial Conversion Rate is 96.637 shares of Common Stock, in each case subject to adjustment under certain circumstances as provided in the Indenture. Upon conversion, the Company shall deliver to holders in respect of
each $1,000 principal amount of Securities being converted a number of shares of Common Stock equal to the applicable Conversion Rate, together with a Cash payment in lieu of any fractional share of Common Stock issuable upon conversion based on the
Closing Sale Price of Common Stock on the relevant Conversion Date. 
 A Security in respect of which a Holder had delivered a
Fundamental Change Purchase Notice exercising the option of such Holder to require the Company to purchase such Security may be converted only if the Fundamental Change Purchase Notice is withdrawn in accordance with the terms of the Indenture. If a
Security is called for redemption pursuant to Article 6 of the Indenture, the right to convert such Security shall terminate at the close of business on the second Business Day before the Redemption Date for such Security (unless the Company shall
default in paying the Redemption Price then due, in which case the right to convert such Security shall terminate on the date such Default is cured and such Security is redeemed). 

 

	8.	DENOMINATIONS, TRANSFER, EXCHANGE 

The Securities are in registered form, without coupons, in denominations of $1,000 and integral multiples of $1,000. A Holder may transfer
or exchange Securities in accordance with the Indenture. The Registrar may require a Holder, among other things, to furnish appropriate endorsements and transfer documents and to pay any taxes or other governmental charges that may be imposed in
relation thereto by law or permitted by the Indenture. 
  

	9.	PERSONS DEEMED OWNERS 

 The
Holder of a Security may be treated as the owner of it for all purposes. 

  
 A-R-3

	10.	UNCLAIMED MONEY 

 If money for
the payment of principal or interest remains unclaimed for two years, the Trustee or Paying Agent will pay the money back to the Company at its written request, subject to applicable unclaimed property law. After any such payment, Holders entitled
to money must look to the Company for payment as general creditors unless an applicable abandoned property law designates another person. 
  

	11.	AMENDMENT, SUPPLEMENT AND WAIVER 

Subject to the exceptions set forth in the Indenture, the Securities and the Indenture may be amended or supplemented with the written
consent of the Holders of at least a majority in aggregate principal amount of the Securities then outstanding, and an existing default or Event of Default with respect to the Securities and its consequence or compliance with any provision of the
Securities or the Indenture may be waived in a particular instance with the consent of the Holders of a majority in aggregate principal amount of the Securities then outstanding. Without notice to or the consent of any Holder, the Company and the
Trustee may amend or supplement the Indenture or the Securities to, among other things, cure any ambiguity, correct any defect or inconsistency or make any other change that does not adversely affect the rights of any Holder. 

 

	12.	SUCCESSOR ENTITY 

 When a
successor corporation assumes all the obligations of its predecessor under the Securities and the Indenture in accordance with the terms and conditions of the Indenture, the predecessor corporation (except in the circumstances specified in the
Indenture) shall be released from those obligations. 
  

	13.	CALCULATIONS IN RESPECT OF SECURITIES 

 Except to the extent provided therein, the Company will be responsible for making all calculations called for under the Indenture and the Securities. These calculations include, but are not limited to,
determinations of the Closing Sale Price of the Common Stock, adjustments to the Conversion Price, the Redemption Price, the Fundamental Change Purchase Price, any accrued interest payable on the Securities, the Conversion Price and the Conversion
Rate. The Company will make these calculations in good faith and, absent manifest error, the calculations will be final and binding on Holders of the Securities. The Company will provide to each of the Trustee and the Conversion Agent a schedule of
its calculations, and the Trustee and the Conversion Agent are entitled to rely conclusively upon the accuracy of such calculations without independent verification. The Trustee will forward the Company’s calculations to any Holder of the
Securities upon the request of such Holder. 
  

	14.	DEFAULTS AND REMEDIES 

 Under the
Indenture, an Event of Default with respect to the Securities includes: (i) default in the payment of any principal of any Security when the same becomes due and 

  
 A-R-4

 
payable on the Maturity Date; (ii) defaults in the payment of Cash and delivery of shares of Common Stock owing upon conversion of any Security within the time period required under Article
5 of the Indenture; (iii) default in the payment of interest (including any Additional Interest) when the same becomes due and payable and the default continues for a period of the 30 days; (iv) failure by the Company for 60 days after
notice to it to comply with any of its other agreements contained in the Securities or in the Indenture with respect to the Securities (other than a default set forth in clauses (i) through (iii) above and clauses (v) and
(vi) below); (v) default in payment of the Fundamental Change Purchase Price or the Redemption Price for any Security, when the same becomes due and payable; (vi) failure to provide a Fundamental Change Purchase Notice when required;
(vii) any indebtedness for borrowed money of the Company or a Significant Subsidiary in an outstanding principal amount, individually or in the aggregate, in excess of $5.0 million is not paid at stated maturity (or when otherwise due) or is
accelerated and such indebtedness is not discharged (or such default in payment or acceleration is not cured or rescinded) within 30 days after written notice as provided in the Indenture; (viii) the Company or a Significant Subsidiary fails to
pay one or more final and non-appealable judgments entered by a court or courts of competent jurisdiction, the aggregate uninsured or unbonded portion of which is in excess of $5.0 million, if the judgments are not paid, discharged or stayed within
30 days; and (xi) certain events of bankruptcy, insolvency or reorganization of the Company or any Significant Subsidiary. If an Event of Default with respect to the Securities (other than as a result of certain events of bankruptcy, insolvency
or reorganization specified in the Indenture) occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate principal amount of the Securities then outstanding may declare all unpaid principal to the date of acceleration on the
Securities then outstanding to be due and payable immediately, all as and to the extent, and subject to the exceptions, provided in the Indenture. If an Event of Default occurs as a result of certain events of bankruptcy, insolvency or
reorganization specified in the Indenture, all unpaid principal of the Securities then outstanding shall become due and payable immediately without any declaration or other act on the part of the Trustee or any Holder, all as and to the extent
provided in the Indenture. Holders may not enforce the Indenture or the Securities except as provided in the Indenture. The Trustee may require security or indemnity satisfactory to it before it enforces the Indenture or the Securities. Subject to
certain limitations, Holders of a majority in aggregate principal amount of the Securities then outstanding may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders notice of any continuing default (except
a default in payment of principal or interest, including the failure to make Cash payments and deliver shares of Common Stock due upon conversion) if it determines that withholding notice is in their interests. 

 

	15.	TRUSTEE DEALINGS WITH THE COMPANY 

The Bank of New York Mellon Trust Company, N.A., the Trustee under the Indenture, in its individual or any other capacity, may make loans
to, accept deposits from and perform services for the Company or an Affiliate of the Company and may otherwise deal with the Company or an Affiliate of the Company, as if it were not the Trustee. 

  
 A-R-5

	16.	NO RECOURSE AGAINST OTHERS 

 A
director, officer, employee or shareholder, as such, of the Company shall not have any liability for any obligations of the Company under the Securities or the Indenture or for any claim based on, in respect of or by reason of such obligations or
their creation. The Holder of this Security by accepting this Security waives and releases all such liability. The waiver and release are part of the consideration for the issuance of this Security. 

 

	17.	AUTHENTICATION 

 This Security
shall not be valid until the Trustee or an authenticating agent manually or by facsimile signs the certificate of authentication on the face of this Security. 
  

	18.	ABBREVIATIONS AND DEFINITIONS 

Customary abbreviations may be used in the name of the Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants
by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian) and UGMA (= Uniform Gifts to Minors Act). 
 All terms defined in the Indenture and used in this Security but not specifically defined herein are used herein as so defined. 

 

	19.	INDENTURE TO CONTROL; GOVERNING LAW 

 In the case of any conflict between the provisions of this Security and the Indenture, the provisions of the Indenture shall control. This Security shall be governed by, and construed in accordance with,
the laws of the State of New York applicable to contracts made and to be performed in such state. 
 The Company will furnish to
any Holder, upon written request and without charge, a copy of the Indenture. Requests may be made to: TeleCommunication Systems, Inc., 275 West Street, Annapolis, Maryland 21401, Attention: Chief Legal Officer. 

  
 A-R-6

 ASSIGNMENT FORM4 

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

	
	  

	(Insert assignee’s soc. sec. or tax I.D. no.)

  
  

 
  

 
  

 
  

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

 
  

	
	agent to transfer this Security on the books of the Company. The agent may substitute another to act for him or her.

  

											
		 		 		 		 		 	Your Signature:
						
	Date:	 	  
	 		 		 		 	  

		 		 		 		 		 	(Sign exactly as your name appears on the other side of this Security)
					
		 	*Signature guaranteed by:	 		 		 	
				
	By:	 	  
	 		 	

  

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

 

	4 	This form should be included only if the Security is a Certificated Security. 

  
 A-R-7

 CONVERSION NOTICE5 

To convert this Security into Common Stock of the Company, check the box:   ̈ 

To convert only part of this Security, state the principal amount to be converted (must be $1,000 or a integral multiple of $1,000):
$        . 
 If you want the stock certificate made out in another person’s name, fill in the form
below: 
  

	
	  

	(Insert assignee’s soc. sec. or tax I.D. no.)

  
  

 
  

 
  

 
  

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

											
		 		 		 		 		 	Your Signature:
						
	Date:	 	  
	 		 		 		 	  

		 		 		 		 		 	(Sign exactly as your name appears on the other side of this Security)
					
		 	*Signature guaranteed by:	 		 		 	
				
	By:	 	  
	 		 	

  

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

 

	5 	This form should be included only if the Security is a Certificated Security. 

  
 A-R-8

 OPTION TO ELECT REPURCHASE 

UPON A FUNDAMENTAL CHANGE6 

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

							
	Dated:	 	  
	 		 	  

				
		 		 		 	  

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

		 		 		 	Signature Guaranty

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

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

	6 	This form should be included only if the Security is a Certificated Security. 

  
 A-R-9

 SCHEDULE OF EXCHANGES OF SECURITIES7 
 The following exchanges, increases/decreases in principal amount, repurchases or conversions of a part of this Global Security have been made: 

 

							
	 Principal Amount

of this Global Security
 Following Such Decrease
 Date of Exchange

(or Increase)
	  	 Authorized
 Signatory of
 Securities

Custodian
	  	 Amount of
 Decrease in
 Principal Amount

of this Global Security
	  	 Amount of
 Increase in
 Principal Amount

of this Global Security

		  		  		  	
		  		  		  	
		  		  		  	

  

	7 	This schedule should be included only if the Security is a Global Security. 

  
 A-R-10

 EXHIBIT B 
 FORM OF TRANSFER CERTIFICATE FOR TRANSFER 
 OF RESTRICTED COMMON STOCK

 [NAME AND ADDRESS OF COMMON STOCK TRANSFER AGENT] 

 

	 	Re:	TeleCommunication Systems, Inc. 7.75% Convertible Senior Notes Due 2018 (the “Securities”) 

Reference is hereby made to the Indenture dated as of May 7, 2013 between the Company and the Trustee (the “Indenture”). Capitalized terms
used but not defined herein shall have the meanings given them in the Indenture. 
 This letter relates to
                 shares of Common Stock [that are to be] [represented by the accompanying certificate(s) that were] issued upon conversion of Securities
and which are held in the name of [name of transferor] (the “Transferor”) to effect the transfer of such Common Stock. 
 In
connection with the transfer of such shares of Common Stock, the undersigned confirms that such shares of Common Stock are being transferred: 

CHECK ONE BOX BELOW: 
  ̈ To the Company or any Subsidiary thereof. 
  ̈ To a
person the undersigned reasonably believes is a “qualified institutional buyer” (as defined in Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”)), in accordance with Rule 144A under the Securities Act.

  ̈ Pursuant to another available exemption from the registration requirements of the
Securities Act. 

  
 B-1

 Unless one of the boxes is checked, the transfer agent will refuse to register any of the Common Stock
evidenced by this certificate in the name of any person other than the registered holder thereof; provided , however , that if the third box is checked, the transfer agent may require, prior to registering any such transfer of the
Common Stock such certifications and other information, including opinions of counsel, as the Company has reasonably requested in writing, by delivery to the transfer agent of a standing letter of instruction, to confirm that such transfer is being
made pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. 
  

			
	[Name of Transferor],
		
	By:	 	  

	Name:	 	
	Title:	 	
		
	Dated:	 	

  
 B-2

 EXHIBIT C 
 FORM OF NOTICE OF REDEMPTION 
 TELECOMMUNICATION SYSTEMS, INC. 

[DATE] 
 To the Holders of the 7.75%
Convertible Senior Notes due 2018 issued by Telecommunication Systems, Inc.: 
 Telecommunication Systems, Inc. (the “Issuer”)
by this written notice hereby exercises, pursuant to Section 6.01 of that certain Indenture (the “Indenture”), dated as of May 7, 2013, between the Issuer and The Bank of New York Mellon Trust Company, N.A., its right to
redeem $[            ] in principal amount of its 7.75% Convertible Senior Notes due 2018 (the “Securities”). All capitalized terms used herein and not otherwise
defined herein shall have the meanings assigned to such terms in the Indenture. 
 1. Redemption Date:
[                 ,             ] 

2. Redemption Price per $1,000 principal amount: $[            ] 

3. Conversion Rate: Each $1,000 principal amount of the Securities is convertible at your option into cash and common stock, if any, at a rate of [insert
number of shares] shares of the Issuer’s common stock, $0.001 par value (the “Common Stock”), subject to adjustment, during the period described below. 
 4. Paying Agent and Conversion Agent: [NAME] [ADDRESS] 
 5. The Securities called for redemption
may be converted at your option at any time from the date of this Notice of Redemption until the close of business on the second Business Day prior to the Redemption Date set forth above. 
 6. The Securities called for redemption and not converted at your election prior to the close of business on the second Business Day prior to the Redemption Date set forth above shall be redeemed on the
Redemption Date. 
 7. If you elect to convert your Securities, you must satisfy the requirements for conversion set forth in your Securities.

 8. Your Securities called for redemption must be surrendered by you (by effecting book entry transfer of the Securities or delivering
Certificated Securities, together with necessary endorsements, as the case may be) to [Name of Paying Agent] at [insert address] in order for you to collect the Redemption Price. 

  
 C-1

 9. [The Securities bearing the following Certificate Number(s) in the principal amount set forth below
opposite such Certificate Number(s) are being redeemed: 
  

					
	Certificate Number(s)	  	Principal Amount]	  	

 10. Unless the Issuer defaults in making the payment of the Redemption Price owed to you, Interest on your Securities
called for redemption shall cease to accrue on and after the Redemption Date. 
 11. CUSIP Number:
[                    ]. No representation is made as to the correctness or accuracy of the CUSIP number, if any, listed in this notice or printed on
the Securities. 
 TELECOMMUNICATION SYSTEMS, INC. 

  
 C-2EX-10.1

 Exhibit 10.1 
 Motorola Solutions 
 Management Deferred Compensation Plan 

(As Amended and Restated Effective June 1, 2013) 

 ARTICLE 1 
 INTRODUCTION 
 1.1 Purpose. In recognition of the services provided
by certain key employees, Motorola Solutions, Inc. hereby amends and restates the Motorola Solutions Management Deferred Compensation Plan, effective June 1, 2013 (the “Plan”) to make available, on a tax-favored basis, additional
retirement benefits and increased financial security. The Plan is intended to comply with Section 409A of the Internal Revenue Code. 
 1.2 History. The Plan was originally effective January 1, 2001 and has been amended from time to time thereafter. The Plan as amended and restated herein is effective June 1, 2013. 

1.3 Prior Deferrals. Amounts deferred under the Plan prior to the Effective Date shall be subject to the terms of the Plan as
amended and restated herein, except as provided in Appendix A. 
 ARTICLE 2 

DEFINITIONS 
 Affiliate. “Affiliate” means any entity with which Motorola Solutions, Inc. would be considered a single employer under Sections 414(b) and 414(c) of the Code. 

Affiliated Group. “Affiliated Group” means Motorola Solutions, Inc. and all entities with which Motorola Solutions, Inc.
would be considered a single employer under Sections 414(b) and 414(c) of the Code, provided that in applying Section 1563(a)(1), (2), and (3) for purposes of determining a controlled group of corporations under Section 414(b) of the Code, the
language “at least 50 percent” is used instead of “at least 80 percent” each place it appears in Section 1563(a)(1), (2), and (3), and in applying Treasury Regulation Section 1.414(c)-2 for purposes of determining trades or
businesses (whether or not incorporated) that are under common control for purposes of Section 414(c), “at least 50 percent” is used instead of “at least 80 percent” each place it appears in that regulation. Such term shall be
interpreted in a manner consistent with the definition of “service recipient” contained in Section 409A of the Code. 

Associate. “Associate” means any individual employed by the Company on a regular, full-time basis that meets the eligibility
criteria as determined by the Plan Administrator, including a citizen of the United States employed outside of his or her home country and a resident alien employed in the United States; provided, however, that to qualify as an “Associate”
for purposes of the Plan, the individual must be a member of a select group of “key management or other highly compensated employees” within the meaning of Sections 201, 301 and 401 of ERISA. 

Beneficiary. “Beneficiary” means the person or persons designated as such in accordance with Section 11.4.

 Board. “Board” means the Board of Directors of Motorola Solutions, Inc. 

Cause. “Cause” means (i) a Participant’s conviction of any criminal violation involving dishonesty, fraud or
breach of trust, (ii) the Participant’s willful engagement in gross misconduct 

  
 2 

 
in the performance of the Participant’s duties that materially injures the Company, or (iii) the Participant’s violation of a material restrictive covenant applicable to the
Participant, without regard to whether such violation occurs after the Participant’s termination of employment. 

Code. “Code” means the Internal Revenue Code of 1986, as amended from time to time. 

Committee. “Committee” means the Compensation and Leadership Committee of the Board. 

Company. “Company” means Motorola Solutions, Inc. and each Affiliate listed on Exhibit A hereto or an Affiliate that,
subsequently, is authorized by the Committee to adopt the Plan and cover its Eligible Associates and whose designation as such has become effective upon acceptance of such status by the Affiliate. An Affiliate may revoke its acceptance of such
designation at any time, but until such acceptance has been revoked, all the provisions of the Plan and amendments thereto shall apply to the Eligible Associates of the Affiliate. In the event the designation is revoked by an Affiliate, provisions
of the Plan shall continue to govern Accounts established with respect to such Affiliate. 
 Compensation.
“Compensation” means the earnings eligible for deferral under this Plan, as specified by the Plan Administrator and communicated to the Participants, including base salary and commissions and cash incentive compensation, notwithstanding a
decision by the Committee to pay similar amounts that are not deferred in a form other than cash. “Compensation” under the Plan shall include the amount of a Participant’s deferrals under this Plan and under any other plan of deferred
compensation maintained by the Company, but shall not take into account any Company contributions to benefit plans, fringe benefits, moving and relocation expenses and other forms of welfare benefits. 

Compensation Deferral. “Compensation Deferral” means that portion of Compensation as to which a Participant has made an
irrevocable election to defer receipt until the date specified under the Flexible Distribution Option or the Retirement Distribution Option. Any such election shall be in accordance with the terms and conditions set forth by the Plan Administrator
from time to time. 
 Deemed Investment Options. “Deemed Investment Options” means the deemed investment
options described in Sections 5.2 and 5.3 selected by the Participant from time to time pursuant to which deemed earnings are credited to the Participant’s Distribution Accounts. 

Distribution Account. “Distribution Account” or “Accounts” means, with respect to a Participant, the
Retirement Distribution Account and each Flexible Distribution Account established on the books of account of Motorola Solutions, Inc., pursuant to Section 5.1. A Participant’s Distribution Account also will include any Prior Deferral
Accounts, as applicable. 
 Distribution Option. “Distribution Option” means each of the distribution options
that are available under the Plan, consisting of the Retirement Distribution Option and the Flexible Distribution Option. 

Effective Date. “Effective Date” means the effective date of the Plan, as amended and restated herein, which is
June 1, 2013. 

  
 3 

 Eligible Associate. “Eligible Associate” means any Associate who is
designated by the Plan Administrator as eligible to participate in the Plan. 
 Enrollment Agreement. “Enrollment
Agreement” means the authorization form which an Eligible Associate files with the Plan Administrator to participate in the Plan. 
 ERISA. “ERISA” means the Employee Retirement Income Security Act of 1974, as amended. 
 Flexible Distribution Account. “Flexible Distribution Account” means an Account maintained for a Participant to which Compensation Deferrals are credited pursuant to the Flexible
Distribution Option. 
 Flexible Distribution Option. “Flexible Distribution Option” means the Distribution
Option pursuant to which benefits are payable in accordance with Section 7.2. 
 401(k) Plan. “401(k)
Plan” means the Motorola Solutions 401(k) Plan, as amended and restated effective January 1, 2011, and as may be further amended from time to time, or a successor qualified retirement plan into which such plan is merged. 

Motorola Solutions, Inc. “Motorola Solutions, Inc.” means Motorola Solutions, Inc., a Delaware corporation. 

Participant. “Participant” means an Eligible Associate who has filed a completed and executed an effective and
irrevocable Enrollment Agreement with the Plan Administrator and is participating in the Plan in accordance with the provisions of Article 4 or an individual who has a Prior Deferral Account. An individual shall remain a Participant until that
individual has received full distribution of any amount credited to the Participant’s Account. 
 Plan.
“Plan” means this plan, called the Motorola Solutions, Inc. Management Deferred Compensation Plan, as amended and restated effective June 1, 2013, and as may be amended further from time to time. 

Plan Administrator. “Plan Administrator” means a committee of one or more individuals designated by the Committee to act
as administrator of the Plan. 
 Plan Distribution Date. “Plan Distribution Date” means a date listed below on
which a scheduled distribution may be made under the Plan, with valuation of the distribution to be determined, notwithstanding any provision of the Plan to the contrary, on the applicable “Valuation Date” shown, as follows: 

 

			
	 Plan Distribution Date
	 	Valuation Date
	 January 31
	 	December 31
	 July 31
	 	June 30

 Plan Year. “Plan Year” means the 12-month period beginning on each January 1 and
ending on the following December 31. 

  
 4 

 Prior Deferral Account. “Prior Deferral Account” means an Account
maintained for a Participant to which Prior Deferrals, as adjusted for earnings and losses, are credited and distributed in accordance with the terms of the Plan and Appendix A. 

Prior Deferrals. “Prior Deferrals” means any deferral of compensation made under the Plan prior to the Effective Date,
as adjusted for earnings and losses. Appendix A to the Plan sets forth certain provisions that apply to Prior Deferrals. 

Retirement. “Retirement” means the Participant’s Separation from Service (for reasons other than death) upon or
after attaining age 55 or, if later, upon completing five (5) years of continuous service, as determined by the Plan Administrator. 
 Retirement Distribution Account. “Retirement Distribution Account” means the Account maintained for a Participant to which Compensation Deferrals and any Supplemental Contributions are
credited pursuant to the Retirement Distribution Option. 
 Retirement Distribution Option. “Retirement Distribution
Option” means the Distribution Option pursuant to which benefits are payable in accordance with Section 7.1. 
 Section
409A. “Section 409A” means Section 409A of the Code and any applicable authority promulgated thereunder. 

Separation from Service. “Separation from Service” means a termination of employment with the Affiliated Group in a
manner such as to constitute a separation from service as defined under Section 409A. For this purpose, the employment relationship is treated as continuing intact while a Participant is on military leave, sick leave, or other bona fide leave of
absence if the period of such leave does not exceed six months, or if longer, so long as the individual retains a right to reemployment with the Company or an Affiliate under an applicable statute or by contract. For purposes of this definition, a
leave of absence constitutes a bona fide leave of absence only if there is a reasonable expectation that the Participant will return to perform services for the Company or an Affiliate. If the period of leave exceeds six months and the Participant
does not retain a right to reemployment under an applicable statute or by contract, the employment relationship is deemed to terminate on the first date immediately following such six-month period. Notwithstanding the foregoing, where a leave of
absence is due to any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than six months, where such impairment causes the Participant to be
unable to perform the duties of his or her position of employment or any substantially similar position of employment, a 29-month period of absence may be substituted for such six-month period. 

Supplemental Contributions. “Supplemental Contributions” are those amounts credited to the Participant’s Retirement
Distribution Account by the Company as described in Section 4.3. 

  
 5 

 ARTICLE 3 
 ADMINISTRATION OF THE PLAN AND DISCRETION 
 3.1 Plan Administrator
Authority. The Plan Administrator shall have full discretionary power and authority to interpret the Plan, to prescribe, amend and rescind any rules, forms and procedures as it deems necessary or appropriate for the proper administration of the
Plan and to make any other determinations and to take any other such actions as it deems necessary or advisable in carrying out its duties under the Plan. All action taken by the Plan Administrator arising out of, or in connection with, the
administration of the Plan or any rules adopted thereunder, shall, in each case, lie within its sole discretion, and shall be final, conclusive and binding upon the Company, the Board, the Committee, all Associates, all Beneficiaries of Associates
and all persons and entities having an interest therein and the Enrollment Agreement of each Participant shall constitute that Participant’s acknowledgement and acceptance of the Plan Administrator’s authority and discretion. The Plan
Administrator shall have the authority to delegate its powers and duties under the Plan. 
 3.2 Compensation and Plan
Expenses. The Plan Administrator shall serve without compensation for its services unless otherwise determined by the Board. All expenses of administering the Plan shall be paid by the Company. 

3.3 Indemnification. The Company shall indemnify and hold harmless the Plan Administrator from any and all claims, losses,
damages, expenses (including counsel fees) and liability (including any amounts paid in settlement of any claim or any other matter with the consent of the Board) arising from any act or omission of such member, except when the same is due to gross
negligence or willful misconduct. 
 3.4 Decisions Final. Any decisions, actions or interpretations to be made under the
Plan by the Company, the Committee, or Plan Administrator shall be made in its respective sole discretion, not as a fiduciary and need not be uniformly applied to similarly situated individuals and shall be final, binding and conclusive on all
persons interested in the Plan. 
 ARTICLE 4 
 PARTICIPATION 
 4.1 Election to Participate. Eligible Associates may
be permitted to make a Compensation Deferral in accordance with the terms and conditions set forth by the Committee or Plan Administrator from time to time. Pursuant to an Enrollment Agreement, the Eligible Associate shall irrevocably elect, except
as provided below, (a) the percentages, in whole percentages, by which (as a result of payroll reduction) an amount equal to any whole percentage of the Participant’s Compensation, in each case after required nondeferrable payroll tax
deductions, will be deferred, and, if permitted by the Plan Administrator, separate elections may be made among various elements of Compensation, and (b) the Distribution Options to which such amounts will be credited as further described in
Article 6, and shall provide such other information as the Plan Administrator shall require. The Plan Administrator may establish minimum or maximum amounts of Compensation Deferrals that may be elected under this Section and may change such
standards on a prospective basis from time to time in accordance with Section 409A. Moreover, the Plan Administrator may permit elections to be levelized throughout the Plan Year, taking into account the Eligible Associate’s anticipated
salary 

  
 6 

 
reductions under a tax-qualified plan of the Company and/or payroll tax deductions (also referred to as “tiers”), provided that such amounts under the Compensation Deferral may not be
modified during the Plan Year. 
 4.2 Timing of Compensation Deferral Elections. Eligible Associates may enroll in the
Plan for a Plan Year by filing an irrevocable and fully executed Enrollment Agreement in accordance with Section 4.1 no later than December 31 of the calendar year preceding the calendar year in which services giving rise to the applicable
Compensation are rendered. Notwithstanding the foregoing, the Plan Administrator may in its discretion permit Eligible Associates to enroll in the Plan at a later date as provided below: 

(a) Initial Eligibility. Pursuant to Code Section 409A(a)(4)(B)(ii), Associates who first become Eligible
Associates after the beginning of a Plan Year may enroll in the Plan for that Plan Year by filing an irrevocable and fully executed Enrollment Agreement no later than thirty (30) days following the date the Associate becomes an Eligible
Associate; provided, however, that any election by an Eligible Associate pursuant to this Section to defer Compensation shall apply only to such amounts as are earned by the Eligible Associate after the date on which such Enrollment Agreement is
filed. Where a deferral election is made relating to annual bonus compensation in the first year of eligibility but after the commencement of a performance period relating to annual bonus compensation, that deferral election shall only apply to that
portion of annual bonus compensation earned for such performance period equal to the total amount of the annual bonus compensation earned during such performance period multiplied by a fraction, the numerator of which is the number of days beginning
on the day immediately after the date that the deferral election becomes irrevocable in accordance with the provisions hereof and ending on the last day of the performance period, and the denominator of which is the total number of days in the
performance period. 
 (b) Performance-Based Compensation. Pursuant to Code Section 409A(a)(4)(B)(iii),
Eligible Associates may file an irrevocable and fully executed Enrollment Agreement with respect to Compensation that is conditioned upon the satisfaction of pre-established organizational or individual performance criteria relating to a performance
period of at least 12 consecutive months, so long as such Enrollment Agreement is filed no later than six (6) months prior to the end of the applicable performance period. 

(c) Other Permissible Elections. Eligible Associates may file an irrevocable and fully executed Enrollment
Agreement with respect to Compensation at such other times as are permitted under Section 409A, including but not limited to the deferral timing rules that apply to certain forfeitable rights as described in Treasury Regulation Section
1.409A-2(a)(5) and to commissions as described in Treasury Regulation Section 1.409A-2(a)(12). 
 4.3 Supplemental
Contributions. For each Plan Year, the Plan Administrator in its discretion may credit each Participant’s Retirement Distribution Account with additional amounts described in this Section 4.3. Any Supplemental Contributions shall be
credited at least annually, as soon as administratively feasible following the close of each Plan Year. 

  
 7 

 (a) Excess Match. The Plan Administrator may credit each
Participant’s Retirement Distribution Account with an amount equal to 100% of the Participant’s Compensation Deferrals in such Plan Year with respect to the first 4% of Compensation that would be included as deferrable compensation in the
401(k) Plan if there were no limitations on annual compensation under Section 401(a)(17) of the Code; provided, however, that the matching contributions under this Section 4.3(a) shall not exceed $50,000 for any Plan Year with respect to a
Participant who is a “Board Officer” as elected by the Board. 
 (b) Restorative Match. The Plan
Administrator may credit each Participant’s Retirement Distribution Account with an amount equal to the Company matching contributions the Company would have made to the 401(k) Plan on the Participant’s behalf had such Participant not
chosen to participate in this Plan. 
 (c) Discretionary Contributions. The Plan Administrator may credit
an Eligible Associate’s Retirement Distribution Account with an amount designated from time to time by the Committee or, with respect to the Chief Executive Officer of Motorola Solutions, Inc., the Board. 

Supplemental Contributions will become vested upon the Participant completing one (1) year of continuous service with the Company, as determined by
the Plan Administrator. A Participant who has a Separation from Service prior to full vesting shall irrevocably forfeit any Supplemental Contributions that have not vested, unless the Committee determines otherwise. Notwithstanding any provision of
the Plan to the contrary, in the event of Cause, the Participant shall forfeit all Supplemental Contributions (whether or not otherwise vested) and shall be required to repay to the Company any Supplemental Contributions previously distributed to
the Participant. The Company shall retain all forfeitures. 
 ARTICLE 5 

DISTRIBUTION ACCOUNTS 
 5.1 Distribution Accounts. The Plan Administrator shall establish and maintain separate Distribution Accounts with respect to a Participant. In particular, the following shall be established and
maintained for each Participant, as applicable: (i) a Retirement Distribution Account; (ii) up to five Flexible Distribution Accounts; (iii) one or more Prior Deferral Accounts. The amount of Compensation Deferrals pursuant to Section 4.1 or
Section 4.2 shall be credited by the Plan Administrator to the Participant’s Distribution Option Accounts no later than the first day of the month following the month in which such Compensation would otherwise have been paid, in accordance
with the Distribution Option irrevocably elected by the Participant in the applicable Enrollment Agreement. Any amount once taken into account as Compensation for purposes of this Plan shall not again be taken into account thereafter. The
Participant’s Distribution Accounts shall be reduced by the amount of payments made by Motorola Solutions, Inc. to the Participant or the Participant’s Beneficiary pursuant to this Plan. 

5.2 Returns on Distribution Option Accounts. A Participant’s Distribution Accounts shall be credited with returns in
accordance with the Deemed Investment Options elected by the Participant from time to time. Participants may allocate their Retirement Distribution Account, each of their Flexible Distribution Accounts, and/or their Prior Deferrals Account among the

  
 8 

 
Deemed Investment Options available under the Plan only in whole percentages. The rate of return, positive or negative, credited under each Deemed Investment Option is based upon the actual
investment performance of the investment fund(s) the Plan Administrator may designate from time to time, and shall equal the total return of such investment fund net of asset based charges, including, without limitation, money management fees, fund
expenses and mortality and expense risk insurance contract charges. The Plan Administrator reserves the right, on a prospective basis, to add or delete Deemed Investment Options. 

5.3 Deemed Investment Options. Except as otherwise provided pursuant to Section 5.2, the Deemed Investment Options available under
the Plan shall correspond to certain investment portfolios designated by the Plan Administrator from time to time. Notwithstanding that the rates of return credited to Participants’ Distribution Option Accounts under the Deemed Investment
Options are based upon the actual performance of the corresponding portfolios, the Company shall not be obligated to invest any Compensation Deferral by Participants under this Plan, or any other amounts, in such portfolios or in any other
investment funds. 
 5.4 Changes in Deemed Investment Options. A Participant may change the Deemed Investment Options to
which the Participant’s Distribution Accounts are deemed to be allocated with whatever frequency is determined by the Plan Administrator which shall not be less than four times per Plan Year. Each such change may include (a) reallocation of the
Participant’s existing Accounts in whole percentages, and/or (b) change in investment allocation of amounts to be credited to the Participant’s Accounts in the future, as the Participant may elect. 

5.5 Valuation of Accounts. The value of a Participant’s Distribution Accounts as of any date shall equal the amounts
theretofore credited to such Accounts, including any earnings (positive or negative) deemed to be earned on such Accounts in accordance with Section 5.2 through the day preceding such date, less the amounts theretofore deducted from such
Accounts. 
 5.6 Statement of Accounts. The Plan Administrator shall make available to each Participant, not less
frequently than quarterly, a statement in such form as the Plan Administrator deems desirable setting forth the balance standing to the credit of each Participant in each of his Distribution Accounts. 

5.7 Distributions from Accounts. Any distribution made to or on behalf of a Participant from one or more of his Distribution
Accounts in an amount which is less than the entire balance of any such Account shall be made pro rata from each of the Deemed Investment Options to which such Account is then allocated. 

ARTICLE 6 

DISTRIBUTION OPTIONS 
 6.1 Election of Distribution Option. The first Enrollment Agreement filed by an Eligible Associate must set forth the Participant’s election as to the time and manner of distribution from the
Retirement Distribution Account. An Eligible Associate shall elect the time and manner of payment pursuant to which any Flexible Distribution Account established pursuant to that election will be distributed. The Eligible Associate shall allocate
his or her deferrals between the Distribution Options in increments of five percent or such other increments permitted by the Plan Administrator, provided, however, that 100 percent of such deferrals may be allocated to one or the other of the
Distribution Options. 

  
 9 

 6.2 Retirement Distribution Option. Distribution of the Participant’s Retirement
Distribution Account shall commence following the Participant’s Retirement or other Separation from Service in accordance with the provisions of Section 7.1. 
 6.3 Flexible Distribution Option. Subject to Section 7.2, each Flexible Distribution Account shall be distributed commencing on the first Plan Distribution Date of the Plan Year elected by the
Participant in the Enrollment Agreement pursuant to which such Flexible Distribution Option Account was established. 

ARTICLE 7 

BENEFITS TO PARTICIPANTS 
 7.1 Benefits Under the Retirement Distribution Option. Benefits under the Retirement Distribution Option shall be paid to a Participant as follows: 

(a) Benefits Upon Retirement. In the case of a Participant whose Separation from Service occurs on account of
Retirement, the Participant’s Retirement Distribution Account shall be distributed in one of the following methods, as elected by the Participant in the applicable Enrollment Agreement: (i) in a lump sum; or (ii) in annual installments over a
period of years not exceeding twenty (20) years. Subject to Section 10.1, distribution shall be made or begin on the first Plan Distribution Date in the Plan Year following the Plan Year in which his Retirement occurs or, if later, the first
Plan Distribution Date that occurs at least six months after his Separation from Service. Any lump-sum benefit payable in accordance with this paragraph shall be in an amount equal to the value of such Retirement Distribution Account as of the
Valuation Date applicable to the Plan Distribution Date. In the case of a benefit payable in installments, the initial annual installment payment shall be equal to (i) the value of such Retirement Distribution Account as of the Valuation Date
applicable to the Plan Distribution Date on which payments begin, divided by (ii) the number of annual installment payments elected by the Participant in the Enrollment Agreement pursuant to which such Retirement Distribution Account was
established. The remaining annual installments shall be paid on the first Plan Distribution Date of each succeeding Plan Year in an amount equal to (i) the value of such Retirement Distribution Account as of the applicable Valuation Date divided by
(ii) the number of installments remaining. If another distribution formula is applicable, the initial and each subsequent distribution shall be calculated with reference to the applicable Valuation Date. 

(b) Benefits Upon Separation from Service Prior to Retirement. In the case of a Participant whose Separation from
Service occurs prior to the earliest date on which the Participant is eligible for Retirement, other than on account of death, the Participant’s Retirement Distribution Account shall be distributed in a lump sum. Distribution shall be made on
the first Plan Distribution Date in the Plan Year following the Plan Year in which his Separation from Service occurs or, if later, the first Plan Distribution Date that occurs at least six months after his Separation from Service. The lump-sum
benefit payable in accordance with this paragraph shall be in an amount equal to the value of such Retirement Distribution Account as of the Valuation Date applicable to the Plan Distribution Date. 

  
 10 

 7.2 Benefits Under Flexible Distribution Option. Benefits under the Flexible
Distribution Option shall be paid to a Participant as follows: 
 (a) Benefits In Elected Calendar Year.
In the case of a Participant whose Separation from Service has not occurred or whose Separation from Service occurs on account of Retirement, the Participant’s Flexible Distribution Account shall be paid as elected by the Participant in the
Enrollment Agreement in one lump sum or in annual installments over a period of years not exceeding twenty (20) years. Any lump-sum payable in accordance with this Section 7.2(a) shall be in an amount equal to the value of such Flexible
Distribution Account as of the last business day of the Plan Year preceding the first Plan Distribution Date in the year payment is to be made. The initial annual installment payment shall be equal to (i) the value of such Flexible Distribution
Account as of the last business day of the Plan Year preceding the date of payment, divided by (ii) the number of annual installment payments elected by the Participant in the Enrollment Agreement pursuant to which such Flexible Distribution Account
was established. The remaining annual installments shall be paid on the first Plan Distribution Date of each succeeding year in an amount equal to (i) the value of such Flexible Distribution Account as of the last business day of the
immediately preceding Plan Year divided by (ii) the number of installments remaining. 
 (b) Benefits
Upon Separation from Service Prior to Retirement. In the case of a Participant whose Separation from Service occurs prior to the earliest date on which the Participant is eligible for Retirement, other than on account of death, the
Participant’s Flexible Distribution Account (including any amounts that have been redeferred pursuant to Section 7.3(c)) shall be distributed in a lump sum. Distribution shall be made on the first Plan Distribution Date in the Plan Year
following the Plan Year in which his Separation from Service occurs or, if later, the first Plan Distribution Date that occurs at least six months after his Separation from Service. The lump-sum benefit payable in accordance with this paragraph
shall be in an amount equal to the value of such Flexible Distribution Account as of the Valuation Date applicable to the Plan Distribution Date. 
 7.3 Subsequent Payment Elections. A Participant or Beneficiary may elect on a form provided by the Plan Administrator to change the distribution election with respect to one or more of his
Distribution Accounts (a “Subsequent Payment Election”). The Subsequent Payment Election shall become irrevocable upon receipt by the Plan Administrator, may not be made once fifteen (15) years have lapsed since the Participant’s
Separation from Service or death, and shall be made in accordance with the following rules: 
 (a) In
General. The Subsequent Payment Election may not take effect until at least 12 months after the date on which it is received by the Plan Administrator. The Subsequent Payment Election most recently received by the Plan Administrator that
satisfies the requirements of this Section 7.3 shall govern the payout of the Distribution Account notwithstanding anything contained in Section 7.1 or 7.2 to the contrary. 

(b) Retirement Distribution Account. A Participant may make an election to delay the payment date or change the
form of payment of his Retirement Distribution 

  
 11 

 
Account to a form otherwise permitted under the Plan or as otherwise set forth herein. Except in the event of a distribution on account of death or Unforeseeable Emergency of the Participant, the
payment of such Retirement Distribution Account will be delayed for a period of at least five years after the date that the Retirement Distribution Account would otherwise have been paid under the Plan if such Subsequent Payment Election had not
been made (or, in the case of installment payments, which are treated as a single payment for purposes of the Plan, until at least the fifth anniversary of the date that the first installment payment was scheduled to be made). 

(c) Flexible Distribution Account. A Participant may make one or more elections to delay the payment date or change
the form of payment of one or more Flexible Distribution Account(s) to a time or form permitted under the Plan or as otherwise set forth herein. Such Subsequent Payment Election must be filed with the Plan Administrator at least 12 months prior to
the date that the Flexible Distribution Account would otherwise have been paid under the Plan (or, in the case of installment payments, at least 12 months from the date that the first installment payment was scheduled to be made). On such Subsequent
Payment Election, the Participant must delay the payment date for a period of at least five years after the first day of the calendar year that the Flexible Distribution Account would otherwise have been paid under the Plan (or, in the case of
installment payments, which are treated as a single payment for purposes of the Plan, at least five years from the first day of the calendar year that the first installment payment was scheduled to be made). If the Participant is making a Subsequent
Payment Election relating to an amount otherwise payable as a lump sum, he may make such Subsequent Payment Election with respect to all or a portion of such lump sum. Nothing in this Section 7.3(c) shall delay a distribution on account of death,
Unforeseeable Emergency of the Participant, or a distribution required under Section 7.2(b). 
 (d) Subsequent
Payment Elections by Beneficiaries. In the event of a Participant’s Death, the Participant’s Beneficiary may change the time and form of payment of the Survivor Benefits payable under Article 8. On such Subsequent Payment Election, the
Beneficiary must designate a form of distribution permissible under the Plan. 
 7.4 Acceleration of Installment
Distributions. Notwithstanding any provision of this Article 7 to the contrary, in the event the Participant’s Distribution Account (other than a Prior Deferral Account) is to be distributed in the form of installments (all of which are
treated as a single payment under the Plan) and the value of all such Distribution Accounts (other than Prior Deferral Accounts) does not exceed three (3) times the applicable dollar amount under Section 402(g)(1)(B) of the Code, as measured on
the Valuation Date immediately preceding the first Plan Distribution Date that occurs at least six months after his Separation from Service, such Distribution Account shall be distributed in a lump sum. 

  
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 ARTICLE 8 
 SURVIVOR BENEFITS 
 In the event of a Participant’s death, any
Distribution Accounts (other than a Prior Deferral Account) or any portion thereof not yet distributed to the Participant will be distributed to the Participant’s Beneficiary, as determined under Section 11.4, in a lump sum on the first Plan
Distribution Date that is at least fifteen (15) months after the Participant’s death. 
 ARTICLE 9 

EMERGENCY BENEFIT 
 In the event that the Plan Administrator, upon written request of a Participant, determines, in its sole discretion, that the Participant has suffered an unforeseeable financial emergency, Motorola
Solutions, Inc. shall pay to the Participant from the Participant’s Distribution Account(s), as soon as practicable following such determination, an amount necessary to meet the emergency, after deduction of any and all taxes as may be required
pursuant to Section 10.10 (the “Emergency Benefit”). For purposes of this Plan, an unforeseeable financial emergency is a severe financial hardship of the Participant resulting from an illness or accident of the Participant, his spouse, or
his dependent (as defined in Section 152 of the Code without regard to Section 152(b)(1), (b)(2), or (d)(1)(B)), loss of the Participant’s property due to casualty (including the need to rebuild a home following damage to a home not otherwise
covered by insurance, for example, not as a result of a natural disaster); or other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the Participant. Cash needs arising from foreseeable events
such as the purchase of a house or education expenses for children shall not be considered to be the result of an unforeseeable financial emergency. Emergency Benefits shall be paid first from the Participant’s Prior Deferral Accounts, if any,
and second from Flexible Distribution Accounts, if any, to the extent the balance of one or more of such Prior Deferral Accounts or Flexible Distribution Accounts is sufficient to meet the emergency, in the order in which such Accounts would
otherwise be distributed to the Participant. If the distribution exhausts the Prior Deferral Accounts and Flexible Distribution Accounts, distribution shall next be made from the Participant’s Retirement Distribution Account. With respect to
that portion of any Distribution Account that is distributed to a Participant as an Emergency Benefit, in accordance with this Article, no further benefit shall be payable to the Participant under this Plan. Notwithstanding anything in this Plan to
the contrary, a Participant who receives an Emergency Benefit in any Plan Year shall not be entitled to make any further deferrals for the remainder of such Plan Year. It is intended that the Plan Administrator’s determination as to whether a
Participant has suffered an “unforeseeable financial emergency” shall be made consistent with the requirements under Section 409A. 
 ARTICLE 10 
 SPECIAL PAYMENT RULES 

10.1 Mandatory Six Month Delay. Except as otherwise provided in Sections 10.2, in no event may payments from a Retirement
Distribution Account, or payments from a Flexible Distribution Account or Prior Deferral Account that are triggered by a Separation from Service, commence prior to the first business day of the seventh month following the Participant’s
Separation from Service (or if earlier, the Participant’s death.) 

  
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 10.2 Discretionary Acceleration of Payments. To the extent permitted by
Section 409A, the Committee or the Plan Administrator, as applicable, may in its sole discretion accelerate the time or schedule of a payment under the Plan as provided in this Section. The provisions of this Section are intended to comply with
the exceptions for accelerated payments under Treasury Regulation Section 1.409A-3(j) and shall be interpreted and administered accordingly. 
 (a) Domestic Relations Orders. The Plan Administrator may, in its sole discretion, accelerate the time or schedule of a payment under the Plan to an individual other than the Participant as may be
necessary to fulfill a domestic relations order (as defined in Section 414(p)(1)(B) of the Code). 
 (b)
Conflicts of Interest. The Plan Administrator may, in its sole discretion, provide for the acceleration of the time or schedule of a payment under the Plan to the extent necessary for any Federal officer or employee in the executive branch to
comply with an ethics agreement with the Federal government. Additionally, the Plan Administrator may, in its sole discretion, provide for the acceleration of the time or schedule of a payment under the Plan the to the extent reasonably necessary to
avoid the violation of an applicable Federal, state, local, or foreign ethics law or conflicts of interest law (including where such payment is reasonably necessary to permit the Participant to participate in activities in the normal course of his
or her position in which the Participant would otherwise not be able to participate under an applicable rule). 

(c) Employment Taxes. The Plan Administrator may, in its sole discretion, provide for the acceleration of the time
or schedule of a payment under the Plan to pay the Federal Insurance Contributions Act (FICA) tax imposed under Sections 3101, 3121(a), and 3121(v)(2) of the Code, or the Railroad Retirement Act (RRTA) tax imposed under Sections 3201, 3211,
3231(e)(1), and 3231(e)(8) of the Code, where applicable, on compensation deferred under the Plan (the FICA or RRTA amount). Additionally, the Plan Administrator may, in its sole discretion, provide for the acceleration of the time or schedule of a
payment, to pay the income tax at source on wages imposed under Section 3401 of the Code or the corresponding withholding provisions of applicable state, local, or foreign tax laws as a result of the payment of the FICA or RRTA amount, and to pay
the additional income tax at source on wages attributable to the pyramiding Section 3401 of the Code wages and taxes. However, the total payment under this acceleration provision must not exceed the aggregate of the FICA or RRTA amount, and the
income tax withholding related to such FICA or RRTA amount. 
 (d) Limited Cash-Outs. The Plan
Administrator may, in its sole discretion, require a mandatory lump sum payment at any time of amounts deferred under the Plan that do not exceed the applicable dollar amount under Section 402(g)(1)(B) of the Code, provided that the payment
results in the termination and liquidation of the entirety of the Participant’s interest under the Plan, including all agreements, methods, programs, or other arrangements with respect to which deferrals of compensation are treated as having
been deferred under a single nonqualified deferred compensation plan under Section 409A. 

  
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 (e) Payment Upon Income Inclusion Under Section 409A. The Plan
Administrator may, in its sole discretion, provide for the acceleration of the time or schedule of a payment under the Plan at any time the Plan fails to meet the requirements of Section 409A. The payment may not exceed the amount required to
be included in income as a result of the failure to comply with the requirements of Section 409A. 
 (f)
Payment of state, local, or foreign taxes. The Plan Administrator may, in its sole discretion, provide for the acceleration of the time or schedule of a payment under the Plan to reflect payment of state, local, or foreign tax obligations
arising from participation in the Plan that apply to an amount deferred under the Plan before the amount is paid or made available to the participant (the state, local, or foreign tax amount). Such payment may not exceed the amount of such taxes due
as a result of participation in the Plan. The payment may be made in the form of withholding pursuant to provisions of applicable state, local, or foreign law or by payment directly to the participant. Additionally, the Plan Administrator may, in
its sole discretion, provide for the acceleration of the time or schedule of a payment under the Plan to pay the income tax at source on wages imposed under Section 3401 of the Code as a result of such payment and to pay the additional income
tax at source on wages imposed under Section 3401 of the Code attributable to such additional wages and taxes. However, the total payment under this acceleration provision must not exceed the aggregate of the state, local, and foreign tax
amount, and the income tax withholding related to such state, local, and foreign tax amount. 
 (g) Certain
Offsets. The Plan Administrator may, in its sole discretion, provide for the acceleration of the time or schedule of a payment under the Plan as satisfaction of a debt of the Participant to the Company (or any entity which would be considered to
be a single employer with the Company under Section 414(b) or Section 414(c) of the Code), where such debt is incurred in the ordinary course of the service relationship between the Company (or any entity which would be considered to be a single
employer with the Company under Section 414(b) or Section 414(c) of the Code) and the Participant, the entire amount of reduction in any of the taxable years of the Company (or any entity which would be considered to be a single employer with the
Company under Section 414(b) or Section 414(c) of the Code) does not exceed $5,000, and the reduction is made at the same time and in the same amount as the debt otherwise would have been due and collected from the Participant. 

(h) Bona fide disputes as to a right to a payment. The Committee may, in its sole discretion, provide for the
acceleration of the time or schedule of a payment under the Plan where such payments occur as part of a settlement between the Participant and the Company (or any entity which would be considered to be a single employer with the Company under
Section 414(b) or Section 414(c) of the Code) of an arm’s length, bona fide dispute as to the Participant’s right to the deferred amount. 
 (i) Plan Terminations and Liquidations. The Committee or the Board, as applicable, may in its sole discretion provide for the acceleration of the time or schedule of a payment under the Plan as
provided in Section 10.4. 
 Except as otherwise specifically provided in this Plan or permitted under Section 409A, the time or schedule of any
payment or amount to be paid under the Plan may not be accelerated. 

  
 15 

 10.3 Delay of Payments. To the extent permitted under Section 409A, the Committee
may, in its sole discretion, delay payment under any of the following circumstances, provided that the Committee treats all payments to similarly situated Participants on a reasonably consistent basis: 

(a) Payments subject to Section 162(m). A payment may be delayed to the extent that the Committee reasonably
anticipates that if the payment were made as scheduled, the Company’s deduction with respect to such payment would not be permitted due to the application of Section 162(m) of the Code. If a payment is delayed pursuant to this Section 10.3(a),
then the payment must be made either (i) during the Company’s first taxable year in which the Committee reasonably anticipates, or should reasonably anticipate, that if the payment is made during such year, the deduction of such payment will
not be barred by application of Section 162(m) of the Code, or (ii) during the period beginning with the first business day of the seventh month following the Participant’s Separation from Service (the “six month anniversary”)
and ending on the later of (x) the last day of the taxable year of the Company in which the six month anniversary occurs or (y) the 15th day of the third month following the six month anniversary. Where any scheduled payment to a specific
Participant in a Company’s taxable year is delayed in accordance with this paragraph, all scheduled payments to that Participant that could be delayed in accordance with this paragraph must also be delayed. The Committee and Plan Administrator
may not provide the Participant an election with respect to the timing of the payment under this Section 10.3. For purposes of this Section 10.3(a), the term Company includes any entity which would be considered to be a single employer with the
Company under Section 414(b) or Section 414(c) of the Code. 
 (b) Federal Securities Laws or Other Applicable
Law. A Payment may be delayed where the Committee reasonably anticipates that the making of the payment will violate federal securities laws or other applicable law; provided that the delayed payment is made at the earliest date at which the
Committee reasonably anticipates that the making of the payment will not cause such violation. For purposes of the preceding sentence, the making of a payment that would cause inclusion in gross income or the application of any penalty provision or
other provision of the Code is not treated as a violation of applicable law. 
 (c) Other Events and
Conditions. A payment may be delayed upon such other events and conditions as the Internal Revenue Service may prescribe in generally applicable guidance published in the Internal Revenue Bulletin. 

10.4 Payments Upon Termination of Plan. In the event that the Plan is terminated, the amounts allocated to a Participant’s
Distribution Account(s) shall be paid to the Participant or his Beneficiary on the dates on which the Participant or his Beneficiary would otherwise receive payments hereunder without regard to the termination of the Plan. Notwithstanding the
preceding sentence: 
 (a) Liquidation; Bankruptcy. The Board of Directors of Motorola Solutions, Inc.
shall have the authority, in its sole discretion, to terminate the Plan and pay each Participant’s entire Distribution Account(s) to the Participant or, if applicable, his Beneficiary within 12 months of a corporate dissolution taxed under
Section 331 of the 

  
 16 

 
Code or with the approval of a bankruptcy court pursuant to 11 U.S.C. 503(b)(1)(a), provided that the amounts are included in the Participant’s gross income in the latest of the following
years (or, if earlier, the taxable year in which the amount is actually or constructively received): (i) the calendar year in which the Plan termination and liquidation occurs; (ii) the first calendar year in which the amount is no longer
subject to a substantial risk of forfeiture as defined under Section 409A; or (iii) the first calendar year in which the payment is administratively practicable. 

(b) Discretionary Terminations. The Board of Directors of Motorola Solutions, Inc. shall have the authority, in its
sole discretion, to terminate the Plan and pay each Participant’s entire Distribution Account(s) to the Participant or, if applicable, his Beneficiary, provided that: (i) the termination and liquidation does not occur proximate to a downturn in
the financial health of the Company (or any entity which would be considered to be a single employer with the Company under Section 414(b) or Section 414(c) of the Code); (ii) the Company (or any entity which would be considered to be a single
employer with the Company under Section 414(b) or Section 414(c) of the Code) terminates and liquidates all agreements, methods, programs, and other arrangements sponsored by the Company (or any entity which would be considered to be a single
employer with the Company under Section 414(b) or Section 414(c) of the Code) that would be aggregated with any terminated and liquidated agreements, methods, programs, and other arrangements under Section 409A if the same Participant had
deferrals of compensation under all of the agreements, methods, programs, and other arrangements that are terminated and liquidated; (iii) no payments in liquidation of the Plan are made within 12 months of the date the Board takes all
necessary action to irrevocably terminate and liquidate the Plan other than payments that would be payable under the terms of the Plan if the action to terminate and liquidate the Plan had not occurred; (iv) all payments are made within 24 months of
the date the Board takes all necessary action to irrevocably terminate and liquidate the Plan; and (v) the Company (or any entity which would be considered to be a single employer with the Company under Section 414(b) or Section 414(c) of the Code)
does not adopt a new plan that would be aggregated with any terminated and liquidated plan under Section 409A if the same Participant participated in both plans, at any time within three (3) years following the date the Board takes all
necessary action to irrevocably terminate and liquidate the Plan. 
 (c) Other Events. The Board of
Directors of Motorola Solutions, Inc. shall have the authority, in its sole discretion, to terminate the Plan and pay each Participant’s entire Distribution Account(s) to the Participant or, if applicable, his Beneficiary upon such other events
and conditions as the Internal Revenue Service may prescribe in generally applicable guidance published in the Internal Revenue Bulletin. 
 ARTICLE 11 
 MISCELLANEOUS 

11.1 Amendment. The Plan may be amended, suspended, or discontinued at any time by the Committee; provided, however, that no such
amendment, suspension, or discontinuance shall reduce or in any manner adversely affect the rights of any Participant with respect to benefits that are payable or may become payable under the Plan based upon the balance of the

  
 17 

 
Participant’s Accounts as of the effective date of such amendment, suspension, or discontinuance; and provided further that any amendment, suspension or discontinuance of the Plan that
changes the amount of compensation payable to the Chief Executive Officer of Motorola Solutions, Inc. shall be by action of the Board. Following a termination of the Plan pursuant to Section 10.4, the Plan Administrator, acting on behalf of the
Company, shall determine when amounts shall be distributed from each Participant’s Distribution Accounts notwithstanding any terms of the Plan to the contrary, to the extent permitted under Section 409A. 

11.2 Transition Arrangements. The Committee or the Board may merge or otherwise combine any other non-qualified deferred
compensation plan or arrangement maintained by the Company or any Affiliate with the Plan upon such terms and in such manner as the Committee or the Board shall deem appropriate, with the deferred compensation amounts under such other plan or
arrangement to be governed after such merger or other combination by the terms of the Plan or by such other terms as the Committee or the Board may provide in the documents implementing the merger or other combination. 

11.3 Claims Procedure. 
 (a) Claim. A person who believes that he is being denied a benefit to which he is entitled under the Plan (hereinafter referred to as a “Claimant”) may file a written request for such
benefit with the Plan Administrator, setting forth the claim. 
 (b) Claim Decision. Upon receipt of a
claim, the Plan Administrator shall advise the Claimant that a reply will be forthcoming within 90 days and shall, in fact, deliver such reply within such period. The Plan Administrator may, however, extend the reply period for an additional 90 days
for reasonable cause. 
 If the claim is denied in whole or in part, the Claimant shall be provided a written
opinion, using language calculated to be understood by the Claimant, setting forth: 
 (i) The specific reason or
reasons for such denial; 
 (ii) The specific reference to relevant provisions of the Plan on which such denial
is based; 
 (iii) A description of any additional material or information necessary for the Claimant to perfect
the claim and an explanation why such material or such information is necessary; 
 (iv) Appropriate information
as to the steps to be taken if the Claimant wishes to submit the claim for review; 
 (v) The time limits for
requesting a review under subparagraph (iii) and for review under subparagraph (iv); and 
 (vi) The
Participant’s right to bring an action for benefits under Section 502 of ERISA. 

  
 18 

 (c) Request for Review. Within 60 days after the receipt by the
Claimant of the written opinion described above, the Claimant may request in writing that the Plan Administrator, along with the Senior Vice President, Human Resources of Motorola Solutions, Inc., (collectively, the “Appeals Committee”)
review the initial determination. The Claimant or his duly authorized representative may, but need not, review the pertinent documents and submit issues and comment in writing for consideration by the Appeals Committee. If the Claimant does not
request a review of the initial determination within such 60 day period, the Claimant shall be barred and estopped from challenging the determination. 
 (d) Review of Decision. Within 60 days after the Appeals Committee’s receipt of a request for review, it will review the initial determination. After considering all materials presented by the
Claimant, the Appeals Committee will render a written opinion, written in a manner calculated to be understood by the Claimant, setting forth the specific reasons for the decision and containing specific references to the relevant provisions of this
Plan on which the decision is based and the Participant’s right to bring an action for benefits under Section 502 of ERISA. If special circumstances require that the 60 day time period be extended, the Appeals Committee will so notify the
Claimant and will render the decision as soon as possible, but no later than 120 days after receipt of the request for review. A Claimant’s compliance with the foregoing provisions of this Section 11.3 is a mandatory prerequisite to a
Claimant’s right to commence any legal action with respect to any claim for benefits under this Plan. Any further legal action taken by a Participant against the Plan, the Company (and its employees or directors), the Plan Administrator or the
Appeals Committee must be filed in a court of law no later than 6 months after the Appeals Committee’s final decision on review of an appealed claim. 
 11.4 Designation of Beneficiary. Each Participant may designate a Beneficiary or Beneficiaries (which Beneficiary may be an entity other than a natural person) to receive any payments which may be
made following the Participant’s death. Such designation may be changed or canceled at any time without the consent of any such Beneficiary. Any such designation, change or cancellation must be made in a form approved by the Plan Administrator
and shall not be effective until received by the Plan Administrator, or its designee. If no Beneficiary has been named, or the designated Beneficiary or Beneficiaries shall have predeceased the Participant, the Beneficiary shall be the
Participant’s estate. If a Participant designates more than one Beneficiary, the interests of such Beneficiaries shall be paid in equal shares, unless the Participant has specifically designated otherwise. Any payment to a Participant or the
Participant’s Beneficiary in accordance with the provisions of the Plan shall, to the extent thereof, be in full satisfaction of all claims against the Plan Administrator, the Committee, the Board and the Company. The Plan Administrator may
require such Participant or Beneficiary, as a condition precedent to such payment, to execute a receipt and release to such effect. 
 11.5 Limitation of Participant’s Right. Nothing in this Plan shall be construed as conferring upon any Participant any right to continue in the employment of the Company, nor shall it
interfere with the rights of the Company to terminate the employment of any Participant and/or to take any personnel action affecting any Participant without regard to the effect which such action may have upon such Participant as a recipient or
prospective recipient of benefits under the Plan. Any amounts payable hereunder shall not be deemed salary or other compensation to a Participant for the purposes of computing benefits to which the Participant may be entitled under any other
arrangement established by the Company for the benefit of its employees. 

  
 19 

 11.6 No Limitation on Company Actions. Nothing contained in the Plan shall be construed to prevent
the Company from taking any action which is deemed by it to be appropriate or in its best interest. No Participant, Beneficiary, or other person shall have any claim against the Company as a result of such action. 

11.7 Obligations to Company. If a Participant becomes entitled to a distribution of benefits under the Plan, and if at such time the Participant
has outstanding any debt, obligation, or other liability representing an amount owing to the Company, then Motorola Solutions, Inc. may offset such amount owed to it against the amount of benefits otherwise distributable in a manner consistent with
Section 409A. Such determination shall be made by the Plan Administrator. 
 11.8 Nonalienation of Benefits. Except as expressly
provided herein, no Participant or Beneficiary shall have the power or right to transfer (otherwise than by will or the laws of descent and distribution), alienate, or otherwise encumber the Participant’s interest under the Plan. The
obligations of Motorola Solutions, Inc. under this Plan are not assignable or transferable except to (a) any corporation or partnership which acquires all or substantially all of the assets of Motorola Solutions, Inc. or (b) any
corporation or partnership into which Motorola Solutions, Inc. may be merged or consolidated. The provisions of the Plan shall inure to the benefit of each Participant and the Participant’s Beneficiaries, heirs, executors, administrators or
successors in interest. 
 11.9 Protective Provisions. Each Participant shall cooperate with the Plan Administrator, the Committee and
the Company by furnishing any and all information requested by Plan Administrator, the Committee and the Company in order to facilitate the payment of benefits hereunder, taking such physical examinations as Plan Administrator, the Committee and the
Company may deem necessary and taking such other relevant action as may be requested by Plan Administrator, the Committee and the Company. If a Participant refuses to cooperate, the Company shall have no further obligation to the Participant under
the Plan, other than payment to such Participant of the then current balance of the Participant’s Distribution Accounts in accordance with his prior elections. 
 11.10 Withholding Taxes. The Company or Plan Administrator may make such provisions and take such action as it may deem necessary or appropriate for the withholding of any taxes which the Company
is required by any law or regulation of any governmental authority, whether Federal, state or local, to withhold in connection with any benefits under the Plan, including, but not limited to, the withholding of appropriate sums from any amount
otherwise payable to the Participant (or his Beneficiary). Each Participant, however, shall be responsible for the payment of all individual tax liabilities relating to any such benefits. 
 11.11 Unfunded Status of Plan. The Plan is intended to constitute an “unfunded” plan of deferred compensation for Participants. Benefits payable hereunder shall be payable out of the
general assets of Motorola Solutions, Inc., and no segregation of any assets whatsoever for such benefits shall be made. Notwithstanding any segregation of assets or transfer to a grantor trust, with respect to any payments not yet made to a
Participant, nothing contained herein shall give any such Participant any rights to assets that are greater than those of a general creditor of Motorola Solutions, Inc. 

  
 20 

 11.12 Severability. If any provision of this Plan is held unenforceable, the
remainder of the Plan shall continue in full force and effect without regard to such unenforceable provision and shall be applied as though the unenforceable provision were not contained in the Plan. 

11.13 Governing Law. The Plan shall be construed in accordance with and governed by the laws of the State of Illinois, without
reference to the principles of conflict of laws. Any legal action related to this Plan shall be brought only in a federal or state court located in Illinois. 
 11.14 Headings. Headings are inserted in this Plan for convenience of reference only and are to be ignored in the construction of the provisions of the Plan. 

11.15 Gender, Singular and Plural. All pronouns and any variations thereof shall be deemed to refer to the masculine, feminine, or
neuter, as the identity of the person or persons may require. As the context may require, the singular may read as the plural and the plural as the singular. 
 11.16 Notice. Any notice or filing required or permitted to be given to the Plan Administrator under the Plan shall be sufficient if in writing and hand delivered, or sent by registered or
certified mail, to the Human Resources Department, or to such other entity as the Plan Administrator may designate from time to time. Such notice shall be deemed given as to the date of delivery, or, if delivery is made by mail, as of the date shown
on the postmark on the receipt for registration or certification. 
 11.17 Asset Purchase Transactions. Where as part of
a sale or other disposition of assets by the Company to an unrelated buyer (an “Asset Purchase Transaction”), a Participant would otherwise experience a Separation from Service, the [Board or Committee] hereby retains the discretion to
specify whether a Participant providing services to the Company immediately before the Asset Purchase Transaction and providing services to the buyer after and in connection with the Asset Purchase Transaction has experienced a Separation from
Service for purposes of the Plan, provided that the Asset Purchase Transaction results from bona fide, arm’s length negotiations, all Participants providing services to the Company immediately before the Asset Purchase Transaction and providing
services to the buyer after and in connection with the Asset Purchase Transaction are treated consistently (regardless of position at the Company) for purposes of applying the provisions of any nonqualified deferred compensation plan, and such
treatment is specified in writing no later than the closing date of the Asset Purchase Transaction, as permitted under Section 409A. 
 11.18 Payments on Behalf of Persons Under Incapacity. In the event that any amount becomes payable under the Plan to a person who, in the sole judgment of the Plan Administrator, is considered by
reason of physical or mental condition to be unable to give a valid receipt therefore, the Plan Administrator may direct that such payment be made to any person found by the Plan Administrator, in its sole judgment, to have assumed the care of such
person. Any payment made pursuant to such determination shall constitute a full release and discharge of the Plan Administrator, the Committee, the Board and the Company. 

  
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 11.19 Section 409A. The Plan is intended to comply with Section 409A and shall be
interpreted in a manner consistent with such intent. To the extent any provision of the Plan should violate Section 409A, such provision shall be rescinded and immediately reformed to the extent necessary to avoid the imposition of taxes or interest
under Section 409A. The Plan may be amended to the extent necessary (including retroactively) by the Plan Administrator to preserve compliance with Section 409A. The preceding shall not be construed as a guarantee of any particular tax effect for
Participants. 

  
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 Appendix A 
 Provisions Relating to Prior Deferrals 
 This Appendix A sets forth certain
provisions that apply to Prior Deferrals. Any capitalized term used herein that is not otherwise defined in this Appendix A shall have the meaning ascribed to such term in the Plan. 

1. Directors. Prior to the Effective Date, members of the Board of Directors (“Directors”) were eligible to participate
in the Plan. Any reference to a Participant in the Plan or this Appendix A shall include a Director who has a Prior Deferral Account; provided, however, that no Director shall be permitted to make any Compensation Deferrals or Subsequent Payment
Elections described in Section 7.3 on or after the Effective Date. A Director’s “Separation from Service” will be based upon his services as a director within the Affiliated Group. 

2. Prior Deferral Accounts and Existing Distribution Elections. One or more Prior Deferral Accounts shall be established with
respect to each Participant who deferred compensation under the Plan prior to the Effective Date and who has not received a full distribution of such related account(s). The “Withdrawal Dates” specified pursuant to the Participant’s
deferral election and those distribution provisions set forth in the Plan prior to the Effective Date shall remain in effect with respect to the Prior Deferral Accounts (or related subaccounts) established under the Plan. 

  
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 Exhibit A 
 Participating Affiliates on the Effective Date 
 NONE 

  
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