Document:

PKY-2014.09.19-EXHIBIT 10.1 PSA

EXHIBIT 10.1

PURCHASE AND SALE AGREEMENT
between
THE PERSONS LISTED IN SCHEDULE 1
as Sellers,
and
PKY SUSP, LLC
as Purchaser
Dated:  September 19, 2014
Premises:
Southern U.S. Portfolio

TABLE OF CONTENTS
     Page

ARTICLE I. Sale of Property.................................................................................................1
1.1      Sale.............................................................................................................................1
1.2      Excluded Property......................................................................................................2

ARTICLE II. Purchase Price..................................................................................................3
2.1      Purchase Price............................................................................................................3
2.2      Share...........................................................................................................................3
2.3      Deposit........................................................................................................................3
2.4      Allocation of Purchase Price......................................................................................3

ARTICLE III. Deposit and Escrow........................................................................................4
3.1      Application of Deposit...............................................................................................4
3.2      Escrow Agent.............................................................................................................5
3.3      Seller Escrow..............................................................................................................7

ARTICLE IV. Closing, Prorations and Closing Costs............................................................8
4.1      Closing........................................................................................................................8
4.2      Prorations....................................................................................................................9
4.3      Fines and Penalties. Seller shall pay any fines or monetary penalties levied or assessed against any Property on or before the Closing Date in connection with any Violations..............................................................................................................................10
4.4      Transfer Taxes...........................................................................................................10
4.5      Sales Taxes................................................................................................................11
4.6     Closing Costs............................................................................................................11
4.7      TI Expenditures and Leasing Commissions; Inducement Costs..............................11
4.8      Tenant Deposits........................................................................................................12
4.9      Closing Ancillaries...................................................................................................12

ARTICLE V. Title and Survey Matters.................................................................................13
5.1      Title...........................................................................................................................13
5.2      Violations..................................................................................................................16
5.3      Due Diligence...........................................................................................................16
5.4      Cooperation..............................................................................................................16
5.5      Ground Lessor...........................................................................................................17
5.6     Permits......................................................................................................................17

ARTICLE VI. Representations and Warranties of Sellers....................................................17
6.1    Seller's Representations............................................................................................17
6.2      Seller's Knowledge...................................................................................................22

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TABLE OF CONTENTS
      Page

6.3     No Warranty as to Existing Leases..........................................................................22
6.4      Intentionally Omitted...............................................................................................22
6.5      "AS IS" Sale.............................................................................................................22

ARTICLE VII. Representations and Warranties of Purchaser.............................................22
7.1     Representations and Warranties of Purchaser..........................................................22
7.2    Purchaser's Acknowledgment..................................................................................25
7.3     Purchaser's Agreement Regarding Seller's Representations....................................27
7.4      Purchaser's Breach of Representation......................................................................27

ARTICLE VIII. Sellers' Interim Operating Covenants........................................................27
8.1    Operations................................................................................................................27
8.2      Maintain Insurance...................................................................................................27
8.3      Tenant Leases...........................................................................................................27
8.4      Tax Appeal Proceedings...........................................................................................28
8.5      Notices of Violation..................................................................................................28
8.6      Access.......................................................................................................................28
8.7      Casualty and Condemnation.....................................................................................28
8.8      Estoppel Certificates.................................................................................................28

ARTICLE IX. Closing Conditions.......................................................................................29
9.1      Conditions to Obligations of Seller..........................................................................29
9.2      Conditions to Obligations of Purchaser....................................................................30
9.3      Conditions to Obligations of Purchaser and Seller...................................................32

ARTICLE X. Closing...........................................................................................................32
10.1      Sellers' Closing Obligations.....................................................................................32
10.2      Purchaser's Closing Obligations...............................................................................34

ARTICLE XI. Risk of Loss..................................................................................................34
11.1     Casualty....................................................................................................................34
11.2      Condemnation...........................................................................................................35
11.3      General Obligations Law..........................................................................................35

ARTICLE XII. Pre-Closing Default and Indemnification....................................................35
12.1      Default by a Seller....................................................................................................36
12.2     Default by Purchaser.................................................................................................36
12.3     Indemnification.........................................................................................................37

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TABLE OF CONTENTS
       Page

ARTICLE XIII. Brokers.......................................................................................................39
13.1      Brokerage Indemnity................................................................................................39

ARTICLE XIV. Publication..................................................................................................39
14.1      Publication; Audit Rights.........................................................................................39

ARTICLE XV. Miscellaneous..............................................................................................40
15.1      Notices......................................................................................................................40
15.2      Governing Law; Venue.............................................................................................41
15.3      Headings...................................................................................................................42
15.4      Business Days...........................................................................................................42
15.5      Counterpart Copies...................................................................................................42
15.6      Binding Effect...........................................................................................................42
15.7      Successors and Assigns............................................................................................42
15.8     Assignment...............................................................................................................42
15.9      Interpretation............................................................................................................43
15.10      Entire Agreement......................................................................................................43
15.11      Severability...............................................................................................................43
15.12     Survival.....................................................................................................................43
15.13      Exhibits.....................................................................................................................43
15.14      Limitation of Liability..............................................................................................43
15.15      Prevailing Party........................................................................................................44
15.16     Real Estate Reporting Person...................................................................................44
15.17      No Recording............................................................................................................44
15.18      No Other Parties.......................................................................................................44
15.19      Waiver of Trial by Jury.............................................................................................44
15.20      State Specific Provisions..........................................................................................44
15.21     Bulk Transfer Laws..................................................................................................45
15.22      1031 Exchange.........................................................................................................45

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TABLE OF CONTENTS
Page

LIST OF EXHIBITS AND SCHEDULES
Exhibits:
Exhibits A-1 through A-21 - Legal Descriptions
Exhibit B - Intentionally Omitted
Exhibit C - Intentionally Omitted
Exhibits D-1 through D-6 - Sale Deeds
Exhibit E - Bill of Sale
Exhibit F - FIRPTA Certificate
Exhibit G - Intentionally Omitted
Exhibit H - Ground Leases
Exhibit I - Form of Ground Lease Assignment
Exhibit J - Form of Assignment of Assigned Property
Exhibit K - Form of Letter to Tenants

Schedules:
Schedule 1 - Sellers and Properties
Schedule 2 - Intentionally Omitted
Schedule 3 - Title Commitments and Surveys
Schedule 4 - Form of Estoppel Certificate
Schedule 5 - Intentionally Omitted
Schedule 6 - Form of Assignment and Assumptions
Schedule 7 - TI Expenditures and Leasing Commissions
Schedule 8 - Tenant Deposits/LOCs
Schedule 9 - Construction Contracts
Schedule 10 -Intentionally Omitted
Schedule 11 -Violations
Schedule 12 - Additional Estoppel Parties
Schedule 13 - Purchase Options
Schedule 14 - Allocation Schedule
Schedule 15 - Inducement Costs
Schedule 16 - Transfer Taxes
Schedule 17 - Purchaser’s Tax Identification Number
Schedule 18 - Casualty Properties 
Schedule 19 - Immaterial Leases 
Schedule 20- Wire Instructions
Schedule 21 - Leases
Schedule 22 - Form of Title Affidavit

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PURCHASE AND SALE AGREEMENT
THIS PURCHASE AND SALE AGREEMENT (this “Agreement”) is made and entered into as of the 19th day of September, 2014 (the “Effective Date”) by and between the parties listed on Schedule 1 attached hereto (each a Seller and collectively “Sellers”) and PKY SUSP, LLC, a Delaware limited liability company (“Purchaser” and each Seller and Purchaser shall each be a “party” and collectively the “parties”).
RECITALS
A.    WHEREAS, Sellers are the owners of fee or ground leasehold interests in the parcel or parcels of real estate (each such parcel a “Plot” and collectively the “Land”) on which twenty-two (22) Class A suburban property buildings sit. The Plot owned by each Seller is set forth opposite its name on Schedule 1 and which parcels are more particularly described in Exhibits A-1 through A-21. 
B.     WHEREAS, Sellers desire to sell to Purchaser and Purchaser desires to purchase from Sellers the Land and other related, real, personal and intangible property (as further described herein), each in accordance with and subject to the terms and conditions set forth in this Agreement. 
NOW, THEREFORE, in consideration of the mutual promises, covenants and agreements hereinafter set forth and of other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, each Seller and Purchaser hereby agree as follows:
ARTICLE I.
SALE OF PROPERTY
1.1    Sale.  Subject to and in accordance with the terms and conditions set forth in this Agreement, Sellers hereby agree to sell, assign and convey to Purchaser, and Purchaser agrees to purchase, acquire and accept from Sellers, all of Sellers’ right, title and interest in and to the Land together with Sellers’ right, title and interest (if any) to:

1.1.1    All buildings, structures and other improvements now or hereafter erected or situated on the Land or any portion thereof (the “Improvements” and together with the Land the “Properties” (and each Plot together with its Improvements a “Property”));

1.1.2    The land lying in the bed of any street, highway, road or avenue, opened or proposed, public or private in front of or adjoining the Land or any portion thereof, to the center line thereof, and any strips and gores adjacent to the Land or any portion thereof;

1.1.3    All rights, privileges, entitlements, hereditaments, grants and easements appurtenant to Sellers’ interest in the Properties including, without limitation, development rights, and all easements, licenses, covenants and other rights-of-way or other appurtenances used in connection with the beneficial use and enjoyment of the Properties;

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1.1.4    Any guarantees, licenses, approvals, certificates, permits, consents, authorizations, variances and warranties relating to the Properties to the extent assignable without (x) any third party consent or (y) any cost or liability to Sellers that is not reimbursed or prorated pursuant to this Agreement;

1.1.5    Any plans, specifications and drawings used in connection with Sellers’ ownership of the Properties which are in Sellers’ possession;

1.1.6    Leases, licenses, occupancy agreements and other agreements demising space in or providing for the use of occupancy of the Properties or any part thereof (the “Leases”) and all refundable deposits, security or otherwise (“Tenant Deposits”), and letters of credit (to the extent assignable) made by tenants or other users or occupants of the Properties under the Leases, a list of which (as of the Effective Date) is set forth on Schedule 8.  The term Leases shall not include (i) the ground leases set forth on Exhibit H (the “Ground Leases”) or (ii) the Excluded Leases. “Excluded Leases” means any leases or occupancy agreements with any of the following counterparties: (i) Carter & Associates, L.L.C., (ii) Carter & Associates Asset Management, L.L.C. or (iii) Cassidy Turley Commercial Real Estate Services Inc.;

1.1.7    Any right, title and interest as a lessee under any Ground Lease;

1.1.8    Maintenance, service, advertising, utility, television, internet and other like contracts and agreements with respect to the ownership and operation of the Properties (other than the Ground Leases, which are assigned pursuant to Section 1.1.7), all if and to the extent transferable without third party consent, or cost or liability to Sellers that is not reimbursed or prorated pursuant to this Agreement (the “Assumed Service Contracts”), provided that the term Assumed Service Contracts shall not include any brokerage leasing agreements or any property management agreements or Construction Contracts;

1.1.9    Sellers’ right, title and interest in, to and under all construction contracts related to Landlord TI Work, to the extent assignable (collectively, the “Construction Contracts”), a current list of which (as of the Effective Date) is attached hereto as Schedule 9; and

1.1.10    All fixtures, machinery, equipment and tangible personal property, if any, owned and used by Sellers solely in connection with its ownership, management, maintenance or operation of the Properties and located at the Properties as of the Closing, excluding furniture, furnishings, equipment and other personal property of the tenants or other users or occupants of the Properties under the Leases (“Tenants”) but including, without limitation, fire protection, heating, plumbing, electrical and air conditioning systems as now exist at the Properties (together with the items set forth in Section 1.1.5 the “Personal Property”).

Sections 1.1.1 through 1.1.10 (together with the Land) are sometimes collectively referred to herein as the “Assets”.
1.2    Excluded Property.  Notwithstanding anything to the contrary contained herein, Sellers shall not sell, assign, transfer or deliver to Purchaser, and Purchaser shall not purchase, acquire or accept from Sellers:

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1.2.1    Except as expressly set forth in this Agreement, all rights and interests and obligations of Sellers as owners of the Assets arising prior to the Closing (including, without limitation, tax refunds, casualty and condemnation proceeds (other than as set out in Sections 11.1 and 11.2)), Tenant security deposits applied by Sellers in the ordinary course of business in accordance with terms the applicable Leases, utility deposits, Rent arrearages, in each case attributable to periods prior to the Closing, and claims made under warranties and guarantees prior to the Closing; and

1.2.2    Except as expressly set forth in this Agreement, any cause of action or claim of, or against, Sellers (or any Seller) existing as of Closing.
ARTICLE II.
PURCHASE PRICE
2.1    Purchase Price.  The purchase price for the Assets shall be four hundred and seventy five million U.S. dollars ($475,000,000) (the “Purchase Price”).  No portion of the Purchase Price is attributable to the Personal Property.  The Purchase Price shall be paid by Purchaser as follows:

2.1.1    Thirty-Five Million and No/100 Dollars ($35,000,000.00) of the Purchase Price (together with any interest that may accrue thereupon the “Deposit” and any such interest, “Interest”) shall be deposited with the Title Company, as escrow agent  (the “Escrow Agent”), by wire transfer of  immediately available federal funds pursuant to the wire transfer instructions set forth on Schedule 20 attached hereto, within one (1) Business Day after the execution and delivery of this Agreement by Purchaser and Sellers.  Purchaser and Sellers agree that if the Deposit is not received by the Title Company within one (1) Business Day after the execution and delivery of this Agreement by Purchaser and Sellers, then this Agreement shall be null and void and of no further force and effect; and

2.1.2    The balance of the Purchase Price (the “Balance of the Purchase Price”), plus or minus, as the case may require, the closing prorations pursuant to Section 4.2, any amounts payable pursuant to Section 4.7, and any other adjustments expressly set forth in this Agreement, shall be paid on the Closing Date (as hereinafter defined) by wire transfer of immediately available federal funds to, or as directed by, Sellers (acting jointly).

2.2    Share.  Each Seller shall receive its share of the Purchase Price (after addition or subtraction of its proportionate share of any closing prorations pursuant to Section 4.2 and any amounts payable pursuant to Sections 4.4 or 4.7) in accordance with the allocations set out in Schedule 14.

2.3    Deposit.  The Deposit shall be held in escrow in an interest bearing account, and not in trust, by the Escrow Agent.  The Deposit shall be held in escrow and shall be payable in accordance with Article III hereof.

2.4    Allocation of Purchase Price.

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2.4.1    A written schedule prepared by Sellers, and agreed to without objection by Purchaser, allocating the portion of the Purchase Price to be paid to each Seller among the Assets sold by such Seller (with respect to each seller, an “Allocation Schedule”) is attached hereto as Schedule 14.  Such Allocation Schedule has been prepared in accordance with Section 1060 of the Internal Revenue Code of 1986, as amended (the “Code”).

2.4.2    After Closing, Purchaser and Sellers will each prepare an Internal Revenue Service Form 8594 in a timely fashion in a manner that conforms with the Allocation Schedule.  The Allocation Schedule shall be binding on Purchaser and Sellers for all tax reporting purposes and neither Purchaser nor Sellers (or any of their respective affiliates) shall take any position (whether in audits, tax returns or otherwise) that is inconsistent with such Allocation Schedule unless required to do so by applicable law; provided, that nothing contained herein shall prevent Purchaser or Sellers from settling any proposed deficiency or adjustment by any Governmental Authority based upon or arising out of the Allocation Schedule.  Purchaser and Sellers shall promptly inform each other of any challenge in writing by any taxing authority to any allocation contained in an Allocation Statement made pursuant to this Section 2.4 and agree to reasonably consult with and keep each other reasonably informed with respect to the status of, and any discussion, proposal or submission with respect to, any such challenge.  “Governmental Authority” shall mean  any federal, state or local government or other political subdivision thereof, including, without limitation, any agency or entity exercising executive, legislative, judicial, regulatory or administrative governmental powers or functions, in each case to the extent the same has jurisdiction over the person or property in question.
ARTICLE III.
DEPOSIT AND ESCROW
3.1    Application of Deposit.

3.1.1    If the Closing occurs as contemplated hereunder, then the Deposit shall be paid to Sellers and applied to the Purchase Price.

3.1.2    In the event that Sellers are entitled to and elect to terminate this Agreement pursuant to Section 12.2 hereof, the Deposit shall be promptly paid to and retained by Sellers.

3.1.3    In the event that Purchaser is entitled and elects to terminate this Agreement pursuant to any express provision of this Agreement, including Sections 5.1.2.1, 9.2.5, Article XI, or 12.1, the Deposit shall be promptly paid to and retained by Purchaser (unless otherwise expressly provided herein in respect of a material default or material breach of Purchaser).

3.1.4    Intentionally Omitted.

3.1.5    If the Agreement is terminated as set forth in Section 9.3 hereof, the Deposit shall be promptly paid in accordance with the terms of Section 9.3 hereof.

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3.1.6    Purchaser shall pay any income taxes on the Interest, except that if Sellers receive the Interest pursuant to Section 3.1.2 Sellers shall pay any income taxes on such Interest.  Each Seller represents and warrants that such Seller’s tax identification number is as set out in Schedule 1.  Purchaser represents and warrants that Purchaser’s tax identification number is as set out on Schedule 17.

3.1.7    If a party hereto makes a demand upon the Escrow Agent for delivery of the Deposit, the Escrow Agent shall promptly give notice to each other party of such demand.  If a notice of objection to the proposed payment is not received by the Escrow Agent from any such other party within ten (10) calendar days of its receipt of notice from the Escrow Agent, the Escrow Agent is hereby authorized to deliver the Deposit to the party that made the demand.  If the Escrow Agent receives a notice of objection within said ten (10) calendar day period, or if for any other reason the Escrow Agent in good faith elects not to deliver the Deposit to the party that made the demand, then the Escrow Agent shall have the right, at its option, to either (A) continue to hold the Deposit and thereafter pay it to the party entitled thereto when the Escrow Agent receives (i) a written notice from an objecting party withdrawing the objection, (ii) a written notice signed by each party directing disposition of the Deposit or (iii) a final judgment or order of a court of competent jurisdiction or (B) deposit the same with a court of competent jurisdiction in the State of New York, and Escrow Agent shall rely upon the decision of such court or a written statement executed by each Seller and Purchaser setting forth how the Deposit should be released.

3.2    Escrow Agent.   The parties further agree that:

3.2.1    The Escrow Agent is executing this Agreement to acknowledge the Escrow Agent’s responsibilities hereunder, which may be modified only by a written amendment signed by all of the parties hereto.  Any amendment to this Agreement that is not signed by the Escrow Agent shall be effective as to the parties thereto, but shall not be binding on the Escrow Agent.  Escrow Agent shall accept the Deposit with the understanding of each Seller and Purchaser that Escrow Agent is not a party to this Agreement except to the extent of its specific responsibilities hereunder, and does not assume or have any liability for the performance or non-performance of Purchaser or any Seller hereunder to any of them.

3.2.2    The Escrow Agent shall be protected in relying upon the accuracy, acting in reliance upon the contents, and assuming the genuineness of any notice, demand, certificate, signature, instrument or other document which is given to the Escrow Agent without verifying the truth or accuracy of any such notice, demand, certificate, signature, instrument or other document;

3.2.3    The Escrow Agent shall not be bound in any way by any other agreement or understanding between any Seller and Purchaser, whether or not the Escrow Agent has knowledge thereof or consents thereto unless such consent by Escrow Agent is given in writing.

3.2.4    The Escrow Agent’s sole duties and responsibilities shall be to hold and disburse the Deposit accrued thereon in accordance with this Agreement.

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3.2.5    The Escrow Agent shall not be liable for any action taken or omitted by the Escrow Agent in good faith and believed by the Escrow Agent to be authorized or within its rights or powers conferred upon it by this Agreement, except for damage caused by the gross negligence, bad faith or willful misconduct of the Escrow Agent.

3.2.6    Upon the disbursement of the Deposit in accordance with this Agreement, the Escrow Agent shall be relieved and released from any liability under this Agreement.

3.2.7    The Escrow Agent may resign at any time upon at least ten (10) days prior written notice to each Seller and Purchaser.  If, prior to the effective date of such resignation, each Seller and Purchaser shall each have approved, in writing, a successor escrow agent, then upon the resignation of the Escrow Agent, the Escrow Agent shall deliver the Deposit to such successor escrow agent.  From and after such resignation and the delivery of the Deposit accrued thereon to such successor escrow agent, the Escrow Agent shall be fully relieved of all of its duties, responsibilities and obligations under this Agreement, all of which duties, responsibilities and obligations shall be performed by the appointed successor escrow agent.  If for any reason, each Seller and Purchaser shall each not approve a successor escrow agent within such period, the Escrow Agent may bring any appropriate action or proceeding for leave to deposit the Deposit with a court of competent jurisdiction, pending the approval of a successor escrow agent, and upon such deposit the Escrow Agent shall be fully relieved of all of its duties, responsibilities and obligations under this Agreement.

3.2.8    Each Seller and Purchaser hereby agree to, jointly and severally, indemnify, defend and hold the Escrow Agent harmless from and against any liabilities, damages, losses, costs or expenses incurred by, or claims or charges made against, the Escrow Agent (including reasonable attorneys’ fees, expenses and court costs) by reason of the Escrow Agent’s acting or failing to act in connection with any of the matters contemplated by this Agreement as escrow agent or in carrying out the terms of this Agreement as escrow agent, except as a result of the Escrow Agent’s gross negligence, bad faith or willful misconduct.

3.2.9    Subject to the provisions of Section 3.1.7, in the event that a dispute arises in connection with this Agreement, or as to the rights of either Sellers or Purchaser in and to, or the disposition of, the Deposit, the Escrow Agent shall have the right to (w) hold and retain the Deposit until such dispute is settled or finally determined by litigation, arbitration or otherwise, or (x) deposit the Deposit in an appropriate court of law, following which the Escrow Agent shall thereby and thereafter be relieved and released from any liability or obligation under this Agreement, or (y) institute an action in interpleader or other similar action permitted by stakeholders in the State of New York, or (z) interplead any of the parties hereto in any action or proceeding which may be brought to determine the rights of Sellers and Purchaser to all or any part of the Deposit.

3.2.10    The Escrow Agent shall not have any liability or obligation for loss of all or any portion of the Deposit by reason of the insolvency or other action or omission of the institution of depository with whom the applicable escrow account is maintained.

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3.2.11    Each party shall promptly give such instructions to the Escrow Agent as are necessary to give effect to the terms of this Agreement, including in relation to disposition of the Deposit.

3.2.12    All costs and fees of the Escrow Agent shall be paid 50% by Purchaser and 50% by Sellers (collectively).

3.3    Seller Escrow.  The provisions of this Section 3.3 shall survive following the Closing.  To secure Sellers’ surviving obligations under this Agreement, at Closing, Purchaser shall deliver TEN MILLION AND 00/100 ($10,000,000) DOLLARS of the Purchase Price to the Escrow Agent (the “Post-Closing Deposit”) to be held by the Escrow Agent in an account for the exclusive benefit of Sellers (the “Post-Closing Deposit Account”).  Any interest accrued on the Post-Closing Deposit Account shall be disbursed by the Escrow Agent in the same manner as the relevant part of Post-Closing Deposit to which it relates (and the recipient of such Post-Closing Deposit so disbursed shall be responsible for any tax payable on the associated interest).  The Post-Closing Deposit Account shall be maintained by the Escrow Agent for the period commencing on the Closing Date and expiring on the later of:  (i) 6:00 p.m. Eastern time on the date that is nine (9) months after the Closing Date (the “Survival Date”), or (ii) the final conclusion of any and all Notice(s) of Breach (as defined below) in accordance with the terms hereof.  Purchaser shall give one or more written notices (each, a “Notice of Breach”) to Sellers and Escrow Agent on or before 5:59 p.m. Eastern time on the Survival Date of any and all of its claims that (A) a breach of the representations and warranties of any Seller shall have occurred, and/or (B) any Seller has failed to perform any of its covenants which survive the Closing set forth in this Agreement.  Each such Notice of Breach shall set forth with reasonable specificity the nature of the alleged breach or covenant failure, the provisions of this Agreement alleged to have been breached, and Purchaser’s good faith reasonable estimate of the amount of the loss, claim, damage, injury, cost or expense (the “Claim Amount”).  If Sellers assert (1) that a Notice of Breach has not been timely delivered, (2) that a breach has not occurred, or (3) that the Claim Amount is erroneous or unreasonable, Sellers shall give notice, in writing, to Purchaser and Escrow Agent of such objections (the “Breach Notice Challenge”) on or before 5:59 p.m. Eastern time on the fifteenth (15th) Business Day after receipt of the Notice of Breach.  The Breach Notice Challenge shall specify in reasonable detail the nature of and basis for the objection to a Notice of Breach.  If Sellers fail to so issue to Purchaser and Escrow Agent a Breach Notice Challenge on or before 5:59 p.m. Eastern time on the fifteenth (15th) Business Day after receipt of the Notice of Breach, the Notice of Breach shall be deemed conclusive and binding on the parties hereto as to the existence and validity of the claim and the Claim Amount set forth therein and such Claim Amount shall be immediately disbursed by Escrow Agent to Purchaser without any further instruction or consent from Seller.  If a Breach Notice Challenge is issued on or before 5:59 p.m. Eastern time on the fifteenth (15th) Business Day after receipt of the Notice of Breach, the parties shall attempt to resolve their dispute in good faith, provided that if no such written resolution agreeable to all parties is agreed upon with forty (40) days of the Breach Notice Challenge, the claims described in such Notice(s) of Breach shall be resolved by a decision of a court of competent jurisdiction and any award in favor of Purchaser shall be distributed by the Escrow Agent from the Post-Closing Deposit Account to Purchaser.  In the event that by 6:00 p.m. Eastern time on the Survival Date there is no claim pursuant to a validly issued Notice of Breach which has not been finally concluded in accordance with this Section 3.3, the Escrow Agent shall immediately disburse all funds in the Post-Closing Deposit Account to Sellers (or any one of 

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them) in accordance with Sellers’ written instructions to Escrow Agent without any further instruction or consent from Purchaser.  In the event one or more Notices of Breach shall not have been finally concluded in accordance with this Section 3.3 on or before 6:00 p.m. Eastern time on the Survival Date, then (i) the Escrow Agent shall continue to cause such portion of the Post-Closing Deposit Account equal to the sum of all Claim Amounts in the unresolved Notice(s) of Breach (but in no event more than the amount in the Post-Closing Deposit Account on the Survival Date) to be maintained in the Post-Closing Deposit Account until such time as the claims described in such Notice(s) of Breach have been resolved by written agreement of the parties (or by a decision of a court of competent jurisdiction) and the judgment, award or settlement payment, if any, for the claims have been paid to Purchaser and (ii) any amount in the Post-Closing Deposit Account in excess of the sum of all Claim Amounts in such unresolved Notice(s) of Breach shall be disbursed within two Business Days by Escrow Agent to Sellers (or any one of them in accordance with Sellers’ written instructions to Escrow Agent) without any further instruction or consent from Purchaser.  By way of illustration and not limitation, if by 6:00 p.m. Eastern time Purchaser has delivered two Notices of Breach to Sellers and Escrow Agent, one with a Claim Amount of $500,000.00 and one with a Claim Amount of $250,000.00, for a total Claim Amount of $750,000.00, then:  (a) Escrow Agent shall hold $750,000.00 in the Post-Closing Deposit Account until the Purchaser and Seller resolve all claims set forth in the Notices of Breach by written agreement or a court of competent jurisdiction issues a non-appealable decision (at which time Escrow Agent shall disburse such funds in accordance with either the written agreement or the non-appealable judgment, as applicable), and (b) within two Business Days after the Survival Date, Escrow Agent shall disburse $9,250,000.00 to Sellers (or any one of them in accordance with Sellers’ written instructions to Escrow Agent).
ARTICLE IV.
CLOSING, PRORATIONS AND CLOSING COSTS
4.1    Closing.

4.1.1    The closing of the purchase and sale of the Assets (the “Closing”) shall take place via an escrow closing to be conducted by the Escrow Agent, at 11:30 a.m. local time on November 5, 2014 (as such date may be extended in accordance with the express provisions of this Agreement the “Scheduled Closing Date”).  Sellers and Purchaser acknowledge and agree that TIME IS OF THE ESSENCE with respect to the performance by Sellers of its obligations under this Agreement and the performance by Purchaser of its obligations to purchase the Assets and pay the Purchase Price in accordance with the terms of this Agreement by the Scheduled Closing Date.

4.1.2    As used herein the term “Closing Date” shall mean the date on which the Closing actually occurs.  In order to facilitate the timely and expeditious closing of title and the payment of the Purchase Price on the Closing Date (including the defeasance of any indebtedness encumbering the Assets), Sellers and Purchaser shall conduct and complete a comprehensive pre-closing on the Business Day or two Business Days (as may be necessary) prior to the Closing Date.

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4.1.3    Both Purchaser and Sellers shall each have one (1) right to extend the Closing Date (for any reason or no reason at all) to such date that is (collectively, after all exercises of the extension rights pursuant to this Section 4.1.3) up to thirty (30) days after the Scheduled Closing Date by providing written notice to the other party at least three (3) Business Days prior to the Scheduled Closing Date, provided, that, (i) if Purchaser notifies Sellers of an Objectionable Title Matter within the last three (3) Business Days prior to the Scheduled Closing Date, or (ii) Sellers reasonably require an extension to complete the defeasance of the existing indebtedness on the Properties, Sellers may exercise their right to extend the Closing Date pursuant to this Section 4.1.3 during the three Business Day period prior to the Scheduled Closing Date.

4.2    Prorations.

4.2.1    No later than five (5) Business Days prior to the Scheduled Closing Date, Sellers shall prepare a closing statement (the “Closing Statement”) of the prorations required by this Agreement.  The following items are to be prorated, it being understood that for the purposes of prorations, Sellers shall be deemed to be the owners of the Assets prior to but not including the Closing Date and Purchaser shall be deemed to be the owner of the Assets on and following the Closing Date:

4.2.1.1    Real estate and personal property taxes and assessments, in each case, with Sellers responsible for taxes attributable to the portion of the current tax year which is prior to the Closing Date and for all prior years and Purchaser responsible for taxes attributable to the remainder of the current tax year and for all future years (which prorations shall be calculated on the basis of the most recent available bill if the current bill is not available);

4.2.1.2    All rents and other payments under the Leases, including but not limited to monthly rents, fixed periodic payments, additional rent payments, utility charges, rent escalations, operating expenses, tax and insurances charges payable by Tenant, cost-of-living adjustments and other forms of rent (collectively, “Rent”); provided that no proration shall be made of any Rent which is overdue as of the Closing Date until such Rent or other revenue item is actually received, at which time it shall be prorated and paid to Purchaser or the applicable Seller in accordance with the terms of this Agreement.  To the extent Purchaser receives Rents on or after the Closing Date, such payments shall be applied: (i) first toward the payment in full of any Rents due to Seller solely for Rents that were, on the Closing Date both (a) due and payable to Seller with respect to any Property, and (b) less than thirty (30) days delinquent,  (ii) second, toward the payment in full of all Rents and other amounts due to Purchaser, with respect to any Property, with respect to periods after Closing, and (iii) thereafter, the balance applied to delinquent Rents or other amounts due to Sellers with respect to periods before Closing;

4.2.1.3    Water, electric, telephone and all other utility and fuel charges (on the basis of the number of days in each applicable bill occurring prior to, and on or after, the Closing Date) and fuel on hand (at cost plus sales tax); provided, however, that any deposits with utility companies shall remain the property of Sellers and shall not be prorated or credited.  Notwithstanding the foregoing, at Purchaser’s sole option, Purchaser may elect to assume any deposits with utilities companies in which event Sellers shall receive a credit for such deposits at Closing (to be paid to one or more Sellers in accordance with written instructions from Sellers);

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4.2.1.4    Amounts due and payable by Sellers under the Assumed Service Contracts and any unamortized portion of any lump sum or up-front payments paid by Sellers under Assumed Service Contracts;

4.2.1.5    Fees, costs and expenses payable to the Additional Estoppel Parties; and
4.2.1.6    Rents and other periodic charges under Ground Leases.

4.2.2    Except with respect to: (i) general real estate and personal property taxes (which shall be reprorated as soon as practicable and in any event no later than three (3) Business Days after the issuance of the actual bills) and (ii) reconciliations for common area maintenance and similar charges pursuant to Leases (which shall be reprorated on or before April 30, 2015), any proration in the Closing Statement prepared pursuant to Section 4.2.1 shall (i) be paid on the Closing Date pursuant to Section 2.1.2 and (ii) be reprorated and finally adjusted on February 27, 2015 (or the earliest date subsequent to which any dispute is resolved pursuant to the provisions of this Section 4.2.2); otherwise, all prorations shall be final, subject to the provisions governing the payment of delinquent Rent under Section 4.2.1.2.  On or before January 15, 2015, Purchaser shall prepare and deliver to Sellers a final Closing Statement; provided that if Purchaser shall fail to deliver such final Closing Statement on or before January 15, 2015, Sellers may prepare and deliver such statement to Purchaser (and Purchaser shall cooperate fully with Sellers’ efforts to do the same).  Within forty (40) days of the delivery of the final Closing Statement to either Sellers or Purchaser, as applicable, Sellers and Purchaser shall use best effort to agree on the amount of final prorations and such amount shall be paid over to Purchaser or Sellers, as applicable, within three (3) Business Days thereof.  If Purchaser and Sellers cannot agree upon the amount of final prorations within 40 days after the delivery of the final Closing Statement to either Purchaser or Sellers, as applicable, then the matters in dispute shall be submitted to an Arbitrator for resolution, whose decision shall be final and binding upon Purchaser and Sellers.  The costs and expenses of the Arbitrator’s dispute resolution shall be borne 50% by Purchaser and 50% by Sellers.  The provisions of this Section 4.2.2 shall survive the Closing.

4.3    Fines and Penalties.  Seller shall pay any fines or monetary penalties levied or assessed against any Property on or before the Closing Date in connection with any Violations.

4.4    Transfer Taxes.  Any transfer taxes, bulk sales taxes, documentary stamp taxes or similar taxes imposed upon the conveyance of the Assets (the “Transfer Taxes”) for each of the Assets listed on Schedule 16 shall be paid by Sellers and Sellers jointly and severally agree to indemnify and hold harmless Purchaser for any unpaid Transfer Taxes due to be paid by Sellers pursuant to this Section 4.4.  Purchaser shall pay or reimburse Sellers for one half (1/2) of any Transfer Taxes not listed on Schedule 16 and Purchaser agrees to indemnify and hold harmless Sellers for any unpaid Transfer Taxes due to be paid or reimbursed by Purchaser pursuant to this Section 4.4.  Sellers shall file or cause to be filed all necessary tax returns with respect to all such Transfer Taxes and, to the extent required by applicable law, Purchaser will join in the execution of any such tax returns and provide any information that Sellers may reasonably request for the purposes of filing such tax returns.  The provisions of this Section 4.4 shall survive the Closing.

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4.5    Sales Taxes.  Although it is not anticipated that any sales tax shall be due and payable in connection with the purchase and sale of the Assets, Purchaser agrees that Purchaser shall pay any and all sales and/or compensating use taxes imposed upon or due in connection with the transactions contemplated hereunder.  Purchaser shall file all necessary tax returns with respect to all such taxes and, to the extent required by applicable law, Sellers will join in the execution of any such tax returns.  If requested by Purchaser, Sellers shall request sales tax clearance letters (or similar statements) for any one or more of the Assets located in Florida, and shall reasonably cooperate with Purchaser (at no out-of-pocket cost to Sellers) to obtain and deliver same to Purchaser, provided, that, for the avoidance of doubt the receipt of any such sales tax clearance letters (or similar statements) or, without limiting the other express provisions of this Agreement, the failure to be in good standing with respect to any matters the subject of such clearance letters (or similar statements) shall not be a condition to Closing.

4.6    Closing Costs.  Purchaser shall pay all recording fees and charges associated with the recordation of the Deeds (as hereinafter defined), other than the Transfer Taxes which are payable by in accordance with Section 4.4.  Sellers shall pay all fees and commissions due to the Broker (as hereinafter defined) in accordance with Section 13.1.  Purchaser shall pay all title insurance premiums, title endorsements, title examination fees and survey costs incurred by Purchaser.  Purchaser shall pay to Sellers at Closing their actual costs and charges, up to a maximum amount of $120,000.00, in connection with the preparation and delivery of any Title Commitments and Surveys that were prepared on or after August 1, 2014, as well as seventy three thousand, four hundred dollars ($73,400) which is Sellers’ actual costs and charges in connection with the property condition reports and the Phase I environmental reports in respect of the Properties that were prepared on or after August 1, 2014 and delivered to Purchaser prior to the date of this Agreement (the “Environmental Reports” and together with the Title Commitments, the property condition reports and the Surveys the “Reports”).  Except as otherwise explicitly set out in this Agreement, all other costs, fees, expenses and charges of any kind incident to the sale and conveyance of the Assets from Sellers to Purchaser, including attorneys’ fees and consultants’ fees, shall be borne by the party incurring the same.

4.7    TI Expenditures and Leasing Commissions; Inducement Costs.

4.7.1.1    TI Expenditures and Leasing Commissions.  Purchaser shall credit to Sellers at Closing (to be paid to one or more Sellers in accordance with written instructions from Sellers) (i) the TI Expenditures and Leasing Commissions listed on Schedule 7 and (ii) with respect to any Lease or any amendment or modification to a Lease executed after the Effective Date in accordance with the terms of Section 8.3 hereof, all TI Expenditures or Leasing Commissions that were paid or reimbursed by Sellers after the Effective Date but prior to Closing ((i) and (ii) collectively, the “Purchaser TI Expenditures”).  “TI Expenditures” shall mean out-of-pocket, verifiable tenant improvement costs and expenses incurred by Sellers for:  (a) repairs, improvements, equipment, painting, decorating, partitioning, carpeting, and other work performed by a Seller (or its contractor or agent, including pursuant to the Construction Contracts) in a Tenant’s space, to the extent required under such Tenant’s Lease (“Landlord TI Work”), and (b) any reimbursements paid to the Tenant in connection with any tenant improvement or work (including any repairs, improvements, equipment, painting, decorating, partitioning, carpeting, and other work) performed by the Tenant or any agent or contractor on their behalf (“Tenant TI Work”). “Leasing 

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Commissions” shall mean leasing or brokerage commissions payable in connection with a Lease, only to the extent the same are on market terms.  If as of the Closing Date, any Purchaser TI Expenditures have not been fully paid or performed by Sellers, Purchaser shall assume the responsibility therefore and shall directly pay and/or perform same (however, if and to the extent Purchaser assumes such responsibility, Sellers shall not receive any credit at Closing therefor).  Sellers shall be responsible for the payment of all TI Expenditures and Leasing Commissions in relation to Leases in effect as of Closing not payable by Purchaser pursuant to clauses (i) and (ii) of this Section 4.7.1.1 (collectively, the “Seller TI Expenditures”).  If as of the Closing Date, Sellers have not paid any Seller TI Expenditures, then (A) Purchaser shall receive a credit against the Purchase Price in an amount equal to such unpaid Seller TI Expenditures, (B) Purchaser shall assume the obligations of Sellers to pay such Seller TI Expenditures pursuant to the Assignment and Assumption Agreement, and (C) Purchaser will hold Sellers harmless from payment of such Seller TI Expenditures and Sellers shall no longer be responsible for the payment of such Seller TI Expenditures.  As of the Closing Date, Sellers will terminate all brokerage leasing agreements and pay all fees and costs payable pursuant thereto (other than any Purchaser TI Expenditures) or pursuant to the termination thereof and Sellers will reasonably cooperate with Purchaser to ensure a smooth transition of the leasing, provided that Purchaser shall promptly reimburse Sellers for any out-of-pocket cost or expense incurred by Sellers in so cooperating.

4.7.1.2    As of the Closing Date, Sellers have granted tenant inducements or concessions, including lease buyout costs, moving allowances, and free-rental periods set forth in the Leases or otherwise on Schedule 15 that will affect portions of the Properties after the Closing Date (“Inducement Costs”).  Sellers and Purchasers agree (A) Purchaser shall be responsible for the obligations of Sellers regarding the Inducement Costs, and (B) Purchaser will (i) indemnify and hold Sellers harmless from the Inducement Costs and (ii) assume all obligations related to such Inducement Costs, and Sellers shall no longer be responsible for the payment of such Inducement Costs.

4.8    Tenant Deposits.  Sellers shall transfer to Purchaser the cash portion of any Tenant Deposits actually received by Sellers pursuant to the Leases not yet refunded to Tenants or applied against Tenant defaults.  Sellers shall transfer any letters of credit relating to the Leases to the extent transferable, provided that Purchaser pay any transfer fees in connection therewith. Any letters of credit relating to the Leases that are not transferable will be cancelled by Sellers at Closing.  For the avoidance of doubt, no adjustment to the Purchase Price shall be made as a result of the transfer of the Tenant Deposits or letters of credit pursuant to this Section 4.8.

4.9    Closing Ancillaries.  As of or at (as applicable) the Closing (and simultaneously with the payment to Sellers of the Balance of the Purchase Price in full):

4.9.1    Sellers will terminate its insurance coverage and Purchaser will obtain its own insurance coverage;

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4.9.2    Sellers will terminate all property management agreements on or before Closing and, within thirty (30) days after Closing, pay all fees and costs payable pursuant to any property management agreement or the termination thereof, and Sellers will reasonably cooperate with Purchaser (at Purchaser’s cost and expense) to ensure a smooth transition of the property management;

4.9.3    Sellers will terminate the Excluded Leases and cause the tenants thereunder to vacate the Properties on or before Closing;

4.9.4    Sellers will provide to Purchaser copies of all lease files, permits, licenses, certificates of occupancy and warranties in the possession of any Seller (or its property manager); and

4.9.5    Sellers will provide to Purchaser all keys and access codes in the possession or subject to the control of any Seller, including master keys as well as combination, card keys, cards, and codes for the security systems, if any.
ARTICLE V.
TITLE AND SURVEY MATTERS
5.1    Title.

5.1.1    Title Commitments. Purchaser acknowledges receipt of a copy of (i) a commitment for an owner’s title insurance policy for each Property prepared by Chicago Title Insurance Company (the “Title Company”), each such commitment attached hereto as Schedule 3 and with effective dates as set forth on Schedule 3 (the “Title Commitments”), together with copies of all instruments giving rise to any defects, objections or exceptions noted therein and (ii) one copy of the most recent existing plat of survey (if any) of each Property as described on Schedule 3 (the “Surveys”).  Copies of the Title Commitments and the Surveys are attached to this Agreement as Schedule 3.  At the Closing, Sellers shall convey and Purchaser shall accept fee title to (or ground leasehold interest in, in the case of Land subject to a Ground Lease) the Assets subject only to the Permitted Exceptions.  Purchaser shall obtain, at Closing, its Title Policy (for each Property) from the Title Company (and through Elliot L. Hurwitz of the Title Company at 711 Third Avenue, New York, NY 10017) and Commonwealth Land Title Insurance Company (“Commonwealth”) based on the Title Commitments, with the Title Company receiving 60% of the total fees payable for such Title Policies and Commonwealth receiving the remaining 40%.

5.1.2    Title Objections.

5.1.2.1    If between the Effective Date and the Closing, any updated survey, and/or any updated title commitment received by Purchaser in respect of any Property (each individually and collectively the “Additional Title Document”) discloses any Objectionable Title Matter as to which Purchaser objects, then, no later than five (5) Business Days after Purchaser’s receipt of such Additional Title Document, Purchaser shall have the right to notify Sellers in writing of the Objectionable Title Matter; if Purchaser fails to give notice of an Objectionable Title Matter to Sellers within the five (5) Business Day period, such Objectionable Title Matter will be deemed 

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to be a Permitted Exception.  Sellers, within twenty (20) Business Days after receipt of notice of an Objectionable Title Matter from Purchaser (but in any event prior to Closing) shall elect in their sole discretion, by written notice to Purchaser, to either (i) Cure or (ii) not Cure.  If Sellers elect not to Cure, then Purchaser shall, within three (3) Business Days of receipt of notice of Seller’s election not to Cure (but in any event prior to the Closing), elect in writing to Sellers to (i) proceed to Closing subject to such Objectionable Title Matter(s), which shall, in such case, be deemed Permitted Exceptions, without any abatement of the Purchase Price or (ii) terminate this Agreement and, so long as it is not in material default or material breach of its obligations under this Agreement, Purchaser shall receive the Deposit as its sole remedy for such termination.  If Sellers elect to Cure and if Sellers fail to Cure by Closing, then Purchaser’s sole remedy, exercisable no later than Closing (as may be extended as provided herein) shall be to (i) proceed to Closing subject to such Objectionable Title Matters, which shall, in such case, be deemed Permitted Exceptions, without any abatement of the Purchase Price, or (ii) terminate this Agreement and, so long as it is not in material default or material breach of its obligations under this Agreement, Purchaser shall receive the Deposit as its sole remedy for such termination. “Objectionable Title Matter” means any Monetary Encumbrances, exception or defect of title which is not a Permitted Exception (and other than those arising pursuant to a casualty or condemnation, Purchaser’s sole remedy in respect of which shall be as set out in Sections 11.1 or 11.2 (as applicable)).  “Cure” means to cure an Objectionable Title Matter or otherwise cause it to be removed as an exception to Purchaser’s title policy prior to Closing (or cause it to be insured over), which removal will also be deemed effected by the issuance of title insurance eliminating or insuring against the effect of such Objectionable Title Matter.

5.1.2.2    Notwithstanding any other provisions of this Section 5.1.2.2, regardless of when the Monetary Encumbrance was noted on the Title Commitments or not, or whether Purchaser provided any notices or objections thereto, Sellers shall be obligated to cause to be released, satisfied and otherwise discharged, at Closing, of record all defects, objections or exceptions in the title to the Properties which are (1) a mortgage, deed of trust, security agreement, financing statement, or any other instrument which evidences or secures indebtedness and encumbers any Asset of Sellers and granted by any of them, (2) a Notice of Commencement, a mechanics’ or materialman’s lien not removed or insured over by the Title Company or Commonwealth (other than any lien or Notice of Commencement relating to Landlord TI Work or Tenant TI Work the cost of which would constitute Purchaser TI Expenditures), and (3) other monetary liens encumbering any Property (including, judgments, federal, state and municipal tax liens) (other than real estate taxes and water and sewer charges that are subject to adjustment in accordance with Section 4.2 hereof and other than Permitted Exceptions) that are in liquidated amounts and that may be satisfied solely by the payment of money (the items described in the preceding subclauses (1), (2), and (3), collectively, “Monetary Encumbrances”).

5.1.2.3    Purchaser shall promptly provide to Sellers a copy of any Additional Title Document.

5.1.2.4    Intentionally Omitted.

5.1.3    Permitted Exceptions.

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(a)Permitted Exceptions to Title.  The Assets shall be sold and conveyed subject to the following exceptions to title (the “Permitted Exceptions”):

(1)Any state of facts and any defects, objections or exceptions shown on the Surveys or the Title Commitments, excluding any Monetary Encumbrance;

(2)Liens or Notices of Commencement recorded in connection with any Landlord TI Work or Tenant TI Work the cost of which would constitute Purchaser TI Expenditures;

(3)all laws, ordinances, rules, codes and regulations of any  Governmental Authority, as the same now exist or may be hereafter modified, supplemented, promulgated, meted or issued;

(4)all liens of real estate assessments and water rates, water meter charges, water frontage charges and sewer taxes, rents and charges, if any, for the year of Closing and future years not yet delinquent as of the Closing Date (without limiting the provisions regarding proration of such amounts as set forth herein);

(5)all Violations, applicable to any Assets whether or not noted in the records of, or issued by, any Governmental Authority, existing on the Closing Date;

(6)such matters as the Title Company or Commonwealth shall be willing to omit as exceptions to coverage or affirmatively insure over;

(7)all standard title insurer exceptions and exclusions from coverage set forth in the “title jacket”;

(8)the general exceptions which can be deleted only by delivery of an updated survey;

(9)exceptions resulting from acts of Purchaser, and those claiming by, through and under Purchaser;

(10)unpaid personal property, real estate, excise, general and special taxes and assessments for the year of Closing and future years not yet delinquent as of the Closing Date (without limiting the provisions regarding proration of such amounts as set forth herein);

(11)rights of Tenants, as tenants only, under the Leases;

(12)minor variations between the tax lot lines and the description of the Land set forth on Exhibit A;

(13)all utility easements of record;

(14)any defects, liens, encumbrances or other matters which will be extinguished upon the transfer of the Assets;

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(15)any deemed Permitted Exception pursuant to Section 5.1.2;

(16)any other covenants, conditions, agreements, rights of way, irregularities in title and other exceptions and encumbrances that are (i) not the result of any agreement, affirmative consent or other voluntary act of any Seller (other than any agreement, affirmative consent or other voluntary act required under applicable law), and (ii) not reasonably likely to (a) materially and adversely interfere with, impair or restrict (1) the current use and operation of a Property, (2) the current access to and egress from a Plot or an Improvement or (3) the current provision of any utility or drainage service to a Plot or an Improvement, or (b) materially and adversely affect the current value of a Property; and

(17)any other matter or thing affecting title to the Assets that Purchaser shall have agreed, or be deemed to have agreed, to waive.

5.2    Violations.  Subject to Sections 4.3 and 6.1.16 hereof, Purchaser agrees to purchase the Assets subject to any and all notes or notices of violations of law, or municipal ordinances, orders, designations or requirements whatsoever noted or issued by any federal, state, municipal or other governmental department, agency or bureau or any other governmental authority having jurisdiction over the Assets (collectively, “Violations”), or any condition or state of repair or disrepair or other matter or thing, whether or not noted, which, if noted, would result in a violation being placed on the Assets.  Sellers shall have no duty to remove or comply with or repair any condition, matter or thing, whether or not noted, which, if noted, would result in a violation being placed on the Assets, and Purchaser shall accept the Assets subject to all such Violations, the existence of any conditions at the Assets which would give rise to such Violations, if any, and any governmental claims arising from the existence of such Violations, in each case without any abatement of or credit against the Purchase Price.

5.3    Due Diligence. Except as expressly set forth in Section 6.1 below, no Seller, nor any of its, or any of its affiliates’ or subsidiaries’ former, current, or future general or limited partners, stockholders, managers, members, directors, representatives, officers, employees, or agents (“Representatives”) is making or shall be deemed to have made any express or implied representation or warranty of any kind or nature as to any materials (including the Reports) provided by Sellers (or any of their Representatives) to Purchaser (or any of its Representatives) relating to the Assets (the “Due Diligence Materials”), including, but not limited to, representations regarding the accuracy or completeness of any such Due Diligence Materials.

5.4    Cooperation.  In connection with obtaining a final form of an ALTA owner’s title insurance policy (or TLTA, with respect to properties in Texas) issued by the Title Company and Commonwealth insuring Purchaser’s title to (or, in the case of Land subject to a Ground Lease, ground leasehold interest in) each Property subject to the Permitted Exceptions and any other exceptions hereunder (the “Title Policy”), Purchaser and Sellers, as applicable, and to the extent requested by the Title Company, will deliver the Title Company and Commonwealth (a) evidence sufficient to establish (i) the legal existence of Purchaser and Sellers and (ii) the authority of the respective signatories of Sellers (or other entity signing on behalf of Sellers) and Purchaser to bind Sellers and Purchaser, as the case may be, and (b), if applicable, a certificate of good standing of Sellers.

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5.5    Ground Lessor.  Purchaser shall use its reasonable best efforts to deliver, prior to Closing, to each lessor under a Ground Lease such evidence, including financial information, as is sufficient for each such lessor to determine that (i) Purchaser is sufficiently creditworthy to meet its obligations under the Ground Lease and (ii) the lessor is not barred from entering into the Ground Lease with Purchaser by section 287.133 Florida Statutes (1997) regarding public entity crimes in order to  assist each relevant Seller in obtaining as release from any liability under the applicable Ground Lease. Furthermore, Purchaser shall, at Closing, provide the lessor under each Ground Lease with such rent security (whether by means of surety bond, letter of credit or otherwise) as is required by the terms of any Ground Lease.

5.6    Permits.  Sellers shall use commercially reasonable efforts to close any open or expired permits for which the work has been cancelled or completed prior to Closing; provided, that, for the avoidance of doubt the closing of any such permits shall not be a condition to Closing.
ARTICLE VI.
REPRESENTATIONS AND WARRANTIES OF SELLERS
6.1    Seller’s Representations.  Subject to the exceptions and qualifications set forth in the disclosure letter delivered to Purchaser (together with all documents provided in connection therewith) on or prior to the date of this Agreement (the “Disclosure Letter”), Sellers hereby represent and warrant, jointly and severally to Purchaser that as of the Effective Date:

6.1.1    Authority.  Each Seller is a corporation duly formed, validly existing and in good standing under the laws of its jurisdiction of incorporation and has the requisite power and authority to enter into and perform the terms of this Agreement.  This Agreement has been duly authorized, executed and delivered by each Seller, is the legal, valid and binding obligation of each Seller, and does not violate any provision of any agreement or judicial order to which any Seller is a party or to which any Seller is subject, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’ rights and by general principles of equity (whether applied in a proceeding at law or in equity) (the “Enforceability Exceptions”).  All documents to be executed by Sellers which are to be delivered at Closing will, at the time of Closing, be duly authorized, executed and delivered by Sellers and will be legal, valid and binding obligations of Sellers, subject to the Enforceability Exceptions.  Sellers are not subject to any law, order, decree, restriction or agreement which prohibits or would be violated by this Agreement or the consummation of the transactions contemplated hereby.

6.1.2    Bankruptcy or Debt of Seller.  No Seller has made a general assignment for the benefit of creditors, filed any voluntary petition in bankruptcy or, to Sellers’ knowledge, suffered the filing of an involuntary petition by any Seller’s creditors, suffered the appointment of a receiver to take possession of all, or substantially all, of any Seller’s assets, suffered the attachment or other judicial seizure of all, or substantially all, of any Seller’s assets, admitted in writing its inability to pay its debts as they generally come due or made an offer of settlement, extension or composition to its creditors generally.

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6.1.3    Foreign Person.  No Seller is a “foreign person” within the meaning of Section 1445(f) of the Code.

6.1.4    Leases.

6.1.4.1    A true, correct and complete list of the Leases entered into by each Seller or its predecessor-in-interest covering any portion of the Properties which are in effect (including all amendments, modifications and supplements thereto) (collectively (but excluding correspondence that do not otherwise amend, modify or revise the terms thereof in any material respect), the “Existing Leases”) is set forth in Schedule 21.  Sellers have delivered to Purchaser true and complete copies of the Existing Leases.

6.1.4.2    Sellers have not consented to and have no knowledge of any written subleases affecting the Properties except as set forth on Schedule 21.

6.1.4.3    No Seller has received any written notice by any Tenant under any Existing Leases asserting a material default by a Seller under such Existing Lease, asserting any defense or off-set to Rent by any such Tenant or any right to cancel or terminate its Existing Lease or to be relieved of any of its material obligations thereunder based on an allegation that any Seller is in default of any of its obligations as landlord under any Existing Lease, in each of the foregoing cases which default or basis for the defense or offset remains uncured.

6.1.4.4    Intentionally Omitted.

6.1.4.5    No Seller has given any Tenant notice of default which has not been complied with in all material respects.

6.1.4.6    Sellers have applied all Tenant Deposits under any Existing Leases in accordance with the terms of such Existing Leases.

6.1.5    Condemnation.  No Seller has received any written notice of any, and to Sellers’ knowledge there are no, existing, pending or contemplated condemnation, eminent domain or similar proceedings with respect to the Assets or any portion thereof.

6.1.6    Tax Appeal Proceedings.  Other that set out in Section 6.1.6 of the Disclosure Letter, no Seller has  filed, or retained anyone to file, notices of protest against, or to commence actions to review real property tax assessments (“Tax Proceedings”) against the Properties which are currently pending.

6.1.7    Litigation.  Other that set out in Section 6.1.7 of the Disclosure Letter, no Seller has received actual written notice that any action, suit or proceeding has been commenced against a Seller and/or in connection with the Assets.  There are no litigations, actions, suits, arbitrations, orders, decrees, claims, writs, injunctions, government investigations, proceedings pending or, to Sellers’ knowledge, threatened in writing against Sellers or affecting Sellers which, if determined adversely to Sellers, would adversely affect the ability of Sellers to perform their obligations hereunder. Sellers are not a party to or subject to the provision of any judgment, order, 

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writ, injunction, decree or award of any Governmental Authority which would adversely affect the ability of Sellers to perform their obligations hereunder.

6.1.8    Personal Property.  Sellers have, or will have prior to Closing, good and marketable title to the Personal Property of Sellers and such Personal Property, as of the Closing owned by Sellers (or any one of them)  will be free and clear of all liens and encumbrances other than Permitted Exception and any liens filed against equipment pursuant to equipment leases.

6.1.9    Insurance Policy. Section 6.1.9 of the Disclosure Letter attached hereto contains a correct and complete list of property and casualty insurance policies and liability insurance policies (collectively, the “Insurance Policies”) maintained by Sellers with respect to the Assets.

6.1.10    Environmental Claims. No Seller has received written notice, relating to any claim, order or proceeding pursuant to any applicable environmental laws (“Environmental Claim”) concerning the Properties.

6.1.11    No Consents. Except for any consent, license, approval, order, permit, authorization, registration, filing or declaration, the failure of which to obtain or make will not materially adversely affect (A) Sellers’ ability to consummate the transactions contemplated by this Agreement, (B) the ownership of the Assets or (C) the operation of the Properties, no consent, license, approval, order, permit or authorization of, or registration, filing or declaration with, any court, administrative agency or commission or other Governmental Authority or instrumentality, domestic or foreign, or any third party, is required to be obtained or made in connection with the execution, delivery and performance of this Agreement by any Seller or any of the transactions required or contemplated hereby.

6.1.12    Absence of Conflicts.  The execution, delivery and compliance with, and performance of the terms and provisions of, this Agreement, and the sale of the Assets, will not (i) conflict with or result in any violation of any Seller’s organizational documents, (ii) conflict with or result in any violation of any provision of any bond, note or other instrument of indebtedness, contract, indenture, mortgage, deed of trust, loan agreement, lease or other agreement or instrument to which any Seller is a party in its individual capacity, or (iii) violate any existing term or provision of any order, writ, judgment, injunction, decree, statute, law, rule or regulation applicable to any Seller or its assets or properties except, in each case, for any conflict or violation which will not materially adversely affect (A) any Seller’s ability to consummate the transactions contemplated by this Agreement, (B) the ownership of the Assets or (C) the operation of the Properties.

6.1.13    Options; Rights of First Refusal.   Certain of the Properties are subject to those certain purchase options, rights of first refusal and/or rights of first offer set forth on Schedule 13  (each individually and collectively, the “Purchase Option”).  Except as set forth on Schedule 13, no Seller (and to the knowledge of any Seller, no predecessor in interest) has granted any unexpired option agreements or rights of first refusal with respect to the purchase of any of the Properties, or any portion thereof, or any interest therein, or any other unexpired rights in favor of third persons to purchase or otherwise acquire the Properties, or any portion thereof, or any interest in the Properties (other than, in each case, this Agreement).

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6.1.14    Patriot Act.

6.1.14.1    Each Seller (i) is in compliance with the Office of Foreign Assets Control sanctions and regulations promulgated under the authority granted by the Trading with the Enemy Act, 12 U.S.C. § 95 (a) et seq., and the International Emergency Economic Powers Act, 50 U.S.C. § 1701, et seq., as the same apply to it or its activities; (ii) is in compliance with that certain Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001, as amended from time to time (the “Patriot Act”) and all rules and regulations promulgated under such Act applicable to Sellers; and (iii) (A) is not now, nor has ever been, under investigation by any Governmental Authority for, nor has been charged with or convicted of a crime under, 18 U.S.C. §§ 1956 or 1957 or any predicate offense thereunder; (B) has never been assessed a civil penalty under any anti-money laundering laws or predicate offenses thereunder; (C) has not had any of its funds seized, frozen or forfeited in any action relating to any anti-money laundering laws or predicate offenses thereunder; (D) has taken such steps and implemented such policies as are reasonably necessary to ensure that it is not promoting, facilitating or otherwise furthering, intentionally or unintentionally, the transfer, deposit or withdrawal of criminally-derived property, or of money or monetary instruments which are (or which Sellers suspect or have reason to believe are) the proceeds of any illegal activity or which are intended to be used to promote or further any illegal activity; and (E) has taken such steps and implemented such policies as are reasonably necessary to ensure that it is in compliance with all laws and regulations applicable to its business for the prevention of money laundering and with anti-terrorism laws and regulations, with respect both to the source of funds from its investors and from its operations, and that such steps include the development and implementation of an anti-money laundering compliance program within the meaning of Section 352 of the Patriot Act, to the extent such a party is required to develop such a program under the rules and regulations promulgated pursuant to Section 352 of the Patriot Act.

6.1.14.2    No Seller or any other person owning a direct or indirect, legal or beneficial interest in a Seller is in violation of the Executive Order or the Patriot Act.

6.1.14.3    No Seller nor any of its constituents, investors (direct or indirect and whether or not holding a legal or beneficial interest) or affiliates, acting or benefiting, directly or indirectly, in any capacity in connection with the Properties, this Agreement, or any of the transactions contemplated hereby, is: (i) listed in the Annex to, or otherwise subject to the provisions of, that certain Executive Order No. 13224 on Terrorist Financing, effective September 24, 2001, and relating to Blocking Property and Prohibiting Transactions With Persons Who Commit, Threaten to Commit or Support Terrorism (the “Executive Order”), (ii) that is named as a “specifically designated national (SDN)” on the most current list published by the U.S. Treasury Department Office of Foreign Assets Control at its official website (http://www.treas.gov.ofac/t11sdn.pdf) or at any replacement website or other replacement official publication of such list or that is named on any other Governmental Authority list issued post 9/11/01, (iii) acting, directly or indirectly, in contravention of any AML Law or terrorist organizations or narcotics traffickers, including those persons that are included on any relevant lists maintained by the United Nations, North Atlantic Treaty Organization, Financial Action Task Force on Money Laundering, U.S. Office of Foreign Assets Control, U.S. Securities and Exchange Commission, U.S. Federal Bureau of Investigation, U.S. Central Intelligence Agency, U.S. Internal Revenue Service, all as may be 

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amended or superseded from time to time or (iv) that is owned or controlled by, or acting for or on behalf of, any person described in clause (i), (ii) or (iii) above (a “Prohibited Person”).

6.1.14.4    None of the funds or other assets of Sellers constitute property of, or are beneficially owned, directly or indirectly, by any person, entity or government subject to trade restrictions under U.S. law, including but not limited to, (i) the International Emergency Economic Powers Act, 50 U.S.C. §§ 1701 et seq., (ii) The Trading with the Enemy Act, 50 U.S.C. App. 1 et seq., and (iii) any executive orders or regulations promulgated thereunder, with the result that sale by Sellers, its managing member or any non-managing member (whether directly or indirectly), is prohibited by law (an “Embargoed Person”).  No Embargoed Person has any interest of any nature whatsoever in Sellers (whether directly or indirectly); and none of the funds of any Seller have been derived from any unlawful activity with the result that an investment in any Seller (whether directly or indirectly) or sale by Sellers, is prohibited by law or that execution, delivery and performance of this Agreement or any of the transactions contemplated hereby is in violation of law.

6.1.15    Sales Tax.  To Sellers’ Knowledge, there are no pending sales tax examinations or audits of any sales tax return of any Seller with respect to any Property, and the results of any prior audits did not result in the assessment of any deficiencies which remain unpaid.  All sales taxes due with respect to the Properties have been paid in full or will be paid in full in the ordinary course of business prior to the Closing Date.

6.1.16    Violations. Except as set forth on Schedule 11, no Seller has received any written notice of any Violation that has not been fully cured and resolved.  In addition, except as set forth on Schedule 11, to Sellers’ knowledge, no material Violations exist with respect to the Assets or any portion thereof, and no condition or state of repair or disrepair or other matter or thing, whether or not noted, which, if noted, would result in a material Violation being placed on the Assets exists. Other than as set forth in Section 6.1.16 of the Disclosure Letter, no Seller has received any written notice from any governmental authorities with respect to (i) any special assessments or proposed increases in the assessed value of any of the Properties, or (ii) any condemnation or eminent domain proceedings affecting any of the Properties.

6.1.17    TI Expenditures and Leasing Commissions; Inducement Costs; Construction Contracts.  Except as disclosed on Schedule 7, there are no TI Expenditures or Leasing Commissions outstanding on the part of Sellers (actual or contingent and without regard to whether the same are currently due and payable) with respect to any of the Leases.  Except as contained in any of the Leases or otherwise as disclosed on Schedule 15, there are no Inducement Costs (actual or contingent and without regard to whether the same are currently due and payable (with respect to any of the Leases.  Except as disclosed on Schedule 9, there are no Construction Contracts or other written contracts for any maintenance or repairs, capital or otherwise.

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6.1.18    Letters of Credit.  The only letters of credit relating to the Leases that are not transferable are identified as such on Schedule 8.

6.2    Seller’s Knowledge.  For purposes of this Agreement and any document delivered at Closing, whenever the phrases “to [such] Sellers’ knowledge”, “to the current, actual knowledge of [such] Seller” or the “knowledge” of a Seller or words of similar import are used, they shall be deemed to refer to the actual knowledge only of Priyanka Garg, Teresa Tsai and Aisha Spence, and not any implied, imputed or constructive knowledge of any other party, without any independent investigation having been made or any implied duty to investigate or inquire.

6.3    No Warranty as to Existing Leases.  No Seller warrants that any particular Existing Lease will be in force or effect at the Closing, or that the Tenants will have performed their obligations thereunder.  The expiration or, as not expressly prohibited by the terms of this Agreement, the termination of any Existing Lease prior to the Closing shall not affect the obligations of Purchaser under this Agreement, or entitle Purchaser to an abatement of or credit against the Purchase Price or give rise to any claim on the part of Purchaser against any Seller.

6.4    Intentionally Omitted

6.5    “AS IS” Sale.  SUBJECT TO, AND WITHOUT IN ANY WAY LIMITING, THE REPRESENTATIONS AND WARRANTIES OF ANY SELLER EXPRESSLY SET FORTH IN THIS AGREEMENT OR ANY OTHER EXPRESS OBLIGATION OF SELLERS PURSUANT TO THE TERMS HEREOF, AND ACKNOWLEDGING THE PRIOR USE OF THE ASSETS AND PURCHASER’S OPPORTUNITY TO INSPECT THE ASSETS, PURCHASER AGREES TO PURCHASE THE ASSETS “AS IS”, “WHERE IS”, WITH ALL FAULTS AND CONDITIONS THEREON. ANY WRITTEN OR ORAL INFORMATION, REPORTS, STATEMENTS, DOCUMENTS OR RECORDS CONCERNING THE ASSETS PROVIDED OR MADE AVAILABLE TO PURCHASER, ITS AGENTS OR CONSTITUENTS BY ANY SELLER, ANY REPRESENTATIVES OF SELLERS OR THIRD PARTIES REPRESENTING OR PURPORTING TO REPRESENT ANY SELLER, SHALL NOT BE REPRESENTATIONS OR WARRANTIES, UNLESS SPECIFICALLY SET FORTH IN THIS AGREEMENT.  IN PURCHASING THE ASSETS OR TAKING OTHER ACTION HEREUNDER, PURCHASER HAS NOT AND SHALL NOT RELY ON ANY SUCH DISCLOSURES, BUT RATHER, PURCHASER SHALL RELY ONLY ON PURCHASER’S OWN INSPECTION OF THE ASSETS.  PURCHASER ACKNOWLEDGES THAT THE PURCHASE PRICE REFLECTS AND TAKES INTO ACCOUNT THAT THE ASSETS ARE BEING SOLD “AS IS”. THE TERMS AND PROVISIONS OF THIS SECTION 6.5 SHALL SURVIVE THE CLOSING AND/OR THE TERMINATION OF THIS AGREEMENT.
ARTICLE VII.
REPRESENTATIONS AND WARRANTIES OF PURCHASER
7.1    Representations and Warranties of Purchaser.  Purchaser represents and warrants to each Seller that the following matters are true and correct as of the Effective Date.

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7.1.1    Authority.  Purchaser is a limited liability company, duly organized, validly existing and in good standing under the laws of Delaware.  This Agreement has been duly authorized, executed and delivered by Purchaser, is the legal, valid and binding obligation of Purchaser subject to the Enforceability Exceptions, and does not violate any provision of any agreement or judicial order to which Purchaser is a party or to which Purchaser is subject.  All documents to be executed by Purchaser which are to be delivered at Closing will, at the time of Closing, be duly authorized, executed and delivered by Purchaser, be legal, valid and binding obligations of Purchaser subject to the Enforceability Exceptions, and will not violate any provision of any agreement or judicial order to which Purchaser is a party or to which Purchaser is subject.

7.1.2    Bankruptcy or Debt of Purchaser.  Purchaser has not made a general assignment for the benefit of creditors, filed any voluntary petition in bankruptcy or suffered the filing of an involuntary petition by Purchaser’s creditors, suffered the appointment of a receiver to take possession of all, or substantially all, of Purchaser’s assets, suffered the attachment or other judicial seizure of all, or substantially all, of Purchaser’s assets, admitted in writing its inability to pay its debts as they come due or made an offer of settlement, extension or composition to its creditors generally.

7.1.3    No Financing Contingency.  It is expressly acknowledged by Purchaser that this transaction is not subject to any financing contingency and that no financing for this transaction shall be provided by any Seller.  Purchaser has or will have at the Closing Date, sufficient cash, available lines of credit or other sources of immediately good funds to enable it to make payment of the Purchase Price and any other amounts to be paid by it hereunder.

7.1.4    Patriot Act.

7.1.4.1    Purchaser (i) is in compliance with the Office of Foreign Assets Control sanctions and regulations promulgated under the authority granted by the Trading with the Enemy Act, 12 U.S.C. § 95 (a) et seq., and the International Emergency Economic Powers Act, 50 U.S.C. § 1701, et seq., as the same apply to it or its activities; (ii) is in compliance with  the Patriot Act and all rules and regulations promulgated under such Act applicable to Purchaser; and (iii) (A) is not now, nor has ever been, under investigation by any Governmental Authority for, nor has been charged with or convicted of a crime under, 18 U.S.C. §§ 1956 or 1957 or any predicate offense thereunder; (B) has never been assessed a civil penalty under any anti-money laundering laws or predicate offenses thereunder; (C) has not had any of its funds seized, frozen or forfeited in any action relating to any anti-money laundering laws or predicate offenses thereunder; (D) has taken such steps and implemented such policies as are reasonably necessary to ensure that it is not promoting, facilitating or otherwise furthering, intentionally or unintentionally, the transfer, deposit or withdrawal of criminally-derived property, or of money or monetary instruments which are (or which Purchaser suspects or has reason to believe are) the proceeds of any illegal activity or which are intended to be used to promote or further any illegal activity; and (E) has taken such steps and implemented such policies as are reasonably necessary to ensure that it is in compliance with all laws and regulations applicable to its business for the prevention of money laundering and with anti-terrorism laws and regulations, with respect both to the source of funds from its investors and from its operations, and that such steps include the development and implementation of an anti-money laundering compliance program within the meaning of Section 352 of the Patriot Act, to the 

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extent such a party is required to develop such a program under the rules and regulations promulgated pursuant to Section 352 of the Patriot Act.

7.1.4.2    Neither Purchaser nor any other person owning a direct or indirect, legal or beneficial interest in Purchaser is in violation of the Executive Order or the Patriot Act (provided that no representation is made with respect to any shareholder of publicly traded shares in Parkway Properties, Inc.).

7.1.4.3    Neither Purchaser nor any of its constituents, investors (direct or indirect and whether or not holding a legal or beneficial interest) or affiliates, acting or benefiting, directly or indirectly, in any capacity in connection with the Properties, this Agreement, or any of the transactions contemplated hereby, is a Prohibited Person or is owned or controlled by or acting on behalf of a Prohibited Person (provided that no representation is made with respect to any shareholder of publicly traded shares in Parkway Properties, Inc.).

7.1.4.4    None of the funds or other assets of Purchaser constitute property of, or are beneficially owned, directly or indirectly, by an Embargoed Person (provided that no representation is made with respect to any shareholder of publicly traded shares in Parkway Properties, Inc.).  No Embargoed Person has any interest of any nature whatsoever in Purchaser (whether directly or indirectly); and none of the funds of any Purchaser have been derived from any unlawful activity with the result that an investment in Purchaser (whether directly or indirectly) or sale to Purchaser, is prohibited by law or that execution, delivery and performance of this Agreement or any of the transactions contemplated hereby is in violation of law (provided that no representation is made with respect to any shareholder of publicly traded shares in Parkway Properties, Inc.).

7.1.5    No Consents.  No consent, license, approval, order, permit or authorization of, or registration, filing or declaration with, any court, administrative agency or commission or other Governmental Authority or instrumentality, domestic or foreign, is required to be obtained or made in connection with the execution, delivery and performance of this Agreement by Purchaser or any of the transactions required or contemplated hereby.

7.1.6    No Conflicts.  The execution, delivery and compliance with, and performance of the terms and provisions of, this Agreement, and the purchase of the Assets, will not (i) conflict with or result in any violation of Purchaser’s organizational documents, (ii) conflict with or result in any violation of any provision of any bond, note or other instrument of indebtedness, contract, indenture, mortgage, deed of trust, loan agreement, lease or other agreement or instrument to which Purchaser is a party in its individual capacity, or (iii) violate any existing term or provision of any order, writ, judgment, injunction, decree, statute, law, rule or regulation applicable to Purchaser or its assets or properties.

7.1.7    Litigation.  There are no litigations, actions, suits, arbitrations, orders, decrees, claims, writs, injunctions, government investigations, proceedings pending or, to Sellers’ knowledge, threatened in writing against Purchaser or affecting Purchaser which, if determined adversely to such entity, would adversely affect the ability of Purchaser to perform its obligations hereunder. Purchaser is not a party to or subject to the provision of any judgment, order, writ, 

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injunction, decree or award of any Governmental Authority which would adversely affect the ability of Purchaser to perform its obligations hereunder.

7.2    Purchaser’s Acknowledgment.  Purchaser acknowledges and agrees that, except for the representations and warranties expressly set out in this Agreement, no Seller has made, and each Seller does not make and specifically disclaims any representations, warranties, promises, covenants, agreements or guaranties of any kind or character whatsoever, whether express or implied, oral or written, past, present or future, of, as to, concerning or with respect to (a) the nature, quality or condition of the Assets, including, without limitation, the water, soil and geology, (b) the income to be derived from the Assets, (c) the suitability of the Assets for any and all activities and uses which Purchaser may conduct thereon, (d) the compliance of or by the Assets or its operation with any laws, rules, ordinances, designations or regulations of any applicable Governmental Authority or body, including, without limitation, the Americans with Disabilities Act, any applicable federal, state or local landmark designations, and any rules and regulations promulgated under or in connection with any of the foregoing, (e) the habitability, merchantability or fitness for a particular purpose of the Assets, (f) the current or future real estate tax liability, assessment or valuation of the Assets, (g) the availability or non-availability or withdrawal or revocation of any benefits or incentives conferred by any federal, state or municipal authorities, (h) any other matter with respect to the Assets, and specifically that each Seller has not made, does not make and specifically disclaims any representations regarding solid waste, as defined by the U.S. Environmental Protection Agency regulations at 40 C.F.R., Part 261, or the disposal or existence, in or on the Property, of any hazardous substance, as defined by the Comprehensive Environmental Response Compensation and Liability Act of 1980, as amended, and applicable state laws, and regulations promulgated thereunder or (i) the assignability of Sellers’ ground leasehold interests under the Ground Leases.  Purchaser further acknowledges and agrees that having been given the opportunity to inspect the Assets, Purchaser is relying solely on its own investigation of the Assets and not on any information provided or to be provided by, or on behalf of, any Seller.  Purchaser further acknowledges and agrees that any information provided or to be provided with respect to the Assets was obtained from a variety of sources and that each Seller, except as otherwise expressly provided herein, has not made any independent investigation or verification of such information.  PURCHASER FURTHER ACKNOWLEDGES AND AGREES THAT, EXCEPT AS EXPRESSLY PROVIDED IN THIS AGREEMENT, AND AS A MATERIAL INDUCEMENT TO SELLERS’ EXECUTION AND DELIVERY OF THIS AGREEMENT, THE SALE OF THE ASSETS AS PROVIDED FOR HEREIN IS ON AN “AS IS, WHERE IS” CONDITION AND BASIS.  Purchaser acknowledges, represents and warrants that Purchaser is not in a significantly disparate bargaining position with respect to Sellers in connection with the transaction contemplated by this Agreement; that Purchaser freely and fairly agreed to this waiver as part of the negotiations for the transaction contemplated by this Agreement; and that Purchaser is represented by legal counsel in connection with this transaction and Purchaser has conferred with such legal counsel concerning this waiver.  The terms and provisions of this Section 7.2 shall survive the Closing and/or termination of this Agreement.  PURCHASER FURTHER ACKNOWLEDGES AND AGREES THAT SELLERS, UNLESS OTHERWISE REQUIRED BY APPLICABLE LAW, ARE UNDER NO DUTY TO MAKE ANY AFFIRMATIVE DISCLOSURES REGARDING ANY MATTER WHICH MAY BE KNOWN TO SELLERS.  Except as expressly set forth in this Agreement, Purchaser hereby agrees that Sellers, and each of Sellers’ partners, members, trustees, directors, officers, employees, 

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representatives, property managers, asset managers, agents, attorneys, affiliates and related entities, heirs, successors, and assigns (collectively, the “Releasees”) shall be, and are hereby, fully and forever released and discharged from any and all liabilities, losses, claims (including third party claims), demands, damages (of any nature whatsoever), causes of action, costs, penalties, fines, judgments, reasonably attorneys’ fees, consultants’ fees and costs and experts’ fees (collectively, the “Claims”) with respect to any and all Claims, whether direct or indirect, known or unknown, foreseen or unforeseen, that may arise on account of or in any way be connected with the Assets including, without limitation, the physical, environmental and structural condition of the Assets or any law or regulation applicable thereto, including, without limitation, any Claim or matter (regardless of when it first appeared) relating to or arising from (a) the presence of any environmental problems, or the use, presence, storage, release, discharge, or migration of Hazardous Materials on, in, under or around the Assets regardless of when such Hazardous Materials were first introduced in, on or about the Assets, (b) any patent or latent defects or deficiencies with respect to the Assets, (c) any and all matters related to the Assets or any portion thereof, including without limitation, the condition and/or operation of the Assets and each part thereof, (d) any and all matters related to the current or future zoning or use of the Assets, and (e) the presence, release and/or remediation of asbestos and asbestos containing materials in, on or about the Assets regardless of when such asbestos and asbestos containing materials were first introduced in, on or about the Assets.  Purchaser hereby waives and agrees not to commence any action, legal proceeding, cause of action or suits in law or equity, of whatever kind or nature, including, but not limited to, a private right of action under the federal Superfund laws, 42 U.S.C. Sections 9601 et seq., the Resource Conservation and Recovery Act, 42 U.S.C. § 6901 et seq., the Federal Water Pollution Control Act, 33 U.S.C. § 2601 et seq., the Toxic Substances Control Act, 15 U.S.C. § 2601 et seq., the Clean Water Act, 33 U.S.C. § 1251 et seq., the Clean Air Act, 42 U.S.C. § 7401 et seq., the Hazardous Materials Transportation Act, 49 U.S.C. § 1801 et seq., the Occupational Safety and Health Act, 29 U.S.C. § 651 et seq. and similar state environmental laws (as such laws and statutes may be amended, supplemented or replaced from time to time), or any applicable laws which regulate or control Hazardous Materials, pollution, contamination, noise, radiation, water, soil, sediment, air or other environmental media, or an actual or potential spill, leak, emission, discharge, release or disposal of any Hazardous Materials or other materials, substances or waste into water, soil, sediment, air or any other environmental media, directly or indirectly, against the Releasees or their agents in connection with Claims described above. “Hazardous Materials” means (A) those substances included within the definitions of any one or more of the terms “hazardous substances”, “toxic pollutants”, “hazardous materials”, “toxic substances”, and “hazardous waste” in the Comprehensive Environmental Response, Compensation and Liability Act, 42 U.S.C. § 9601 et seq. (as amended), the Hazardous Materials Transportation Act, as amended, 49 U.S.C. Sections 1801 et seq., the Resource Conservation and Recovery Act of 1976, as amended, 42 U.S.C. Section 6901 et seq., Section 311 of the Clean Water Act, 15 U.S.C. § 2601 et seq., 33 U.S.C. § 1251 et seq., 42 U.S.C. 7401 et seq., and the regulations and publications issued under any such laws, (B) petroleum, radon gas, lead based paint, asbestos or asbestos containing material and polychlorinated biphenyls and (C) mold or water conditions which may exist at the Properties or other substances, wastes or materials listed or defined by any state or local statutes, regulations and ordinances pertaining to the protection of human health and the environment.

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7.3    Purchaser’s Agreement Regarding Seller’s Representations.  Purchaser agrees that in the event that Purchaser shall obtain actual knowledge of any information that is contradictory to, and would constitute the basis of a breach of, any representation or warranty or failure to satisfy any condition on the part of any Seller, then Purchaser shall promptly deliver to each Seller written notice of such information specifying the representation, warranty or condition to which such information relates.

7.4    Purchaser’s Breach of Representation. (x) Any breach by Purchaser of the foregoing representations and warranties in Section 7.1 shall be deemed a material default by Purchaser under Section 12.2 of this Agreement and (y) the representations and warranties contained in Section 7.1 shall be continuing in nature and shall survive the expiration or earlier termination of this Agreement for a period of nine (9) months (provided, that the representations and warranties in Sections 7.1.1, 7.1.2 and 7.1.4 shall survive for the applicable statute of limitations).  The terms and provisions of this Section 7.4 shall survive Closing and/or termination of this Agreement.
ARTICLE VIII.
SELLERS' INTERIM OPERATING COVENANTS
8.1    Operations.  Except as may be expressly provided in this Agreement, each Seller agrees, at its cost and expense (but subject to the prorations herein set forth), to operate the Property owned by such Seller through the Closing Date or earlier termination of this Agreement in a substantially similar manner as it is operating such Property as of the Effective Date and in a manner that will not knowingly violate any applicable law, statute, ordinance or code in any material respect, subject to ordinary wear and tear and further subject to Article XI of this Agreement.  Notwithstanding the foregoing, except in the case of an emergency (as determined by each such Seller in its sole and absolute discretion), such Seller shall have no right to make any capital repairs to the Improvements (other than Landlord TI Work set forth on Schedule 7 or as otherwise permitted in this Agreement) from and after the Effective Date without obtaining Purchaser’s prior written consent (such consent not to be unreasonably withheld or delayed).

8.2    Maintain Insurance.  Each Seller covenants to keep, at its sole cost and expense, until the earlier of the Closing or the termination of this Agreement, the Insurance Policies in relation to the Property owned by such Seller; provided, however, that such Seller may make commercially reasonable modifications to such Insurance Policies provided that such modifications do not materially reduce the insurance coverage existing as of the Effective Date.

8.3    Tenant Leases.  During the period of time commencing on the Effective Date and continuing until the earlier to occur of the Closing or the termination of this Agreement, no Seller shall have the right without obtaining the Chief Investment Officer of the Purchaser’s prior written consent (which (i) Purchaser shall grant or withhold without undue delay in its reasonable discretion and (ii) such consent, if granted, shall be delivered by return email to the sender of the request), which request for such consent may be delivered by email, to (i) amend, modify, renew, grant any consent or waive any material rights under the Existing Leases, (ii) cancel or terminate any Existing Lease except where a Tenant is in material default thereunder or on expiry of any Existing Lease 

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upon the end of its term, (iii) enter into a new lease (a “New Lease”), or (iv) accept a surrender or consent to the early termination or cancellation of any Existing Lease by the Tenant thereunder.

8.4    Tax Appeal Proceedings.  If any Tax Proceedings in respect of any taxes for the year of Closing or prior years for any Property are pending at the time of Closing, the applicable Seller who owns such Property shall have the right to continue to conduct such Tax Proceedings prior to and from and after the Closing Date without the consent of Purchaser, and such Seller shall continue to control all such Tax Proceedings, provided that Seller shall not withdraw, settle or otherwise compromise any Tax Proceedings affecting taxes binding on any Property for the year of Closing or subsequent years without the prior written consent of Purchaser.  Any proceeds related to any Tax Proceeding collected by Purchaser after the Closing Date but relating to period(s) prior to the Closing Date shall be paid by Purchaser to Sellers in cash promptly, and in any event within three (3) Business Days of receipt of such proceeds by Purchaser.  The provisions of this Section 8.4 shall survive the Closing.

8.5    Notices of Violation.  Each Seller shall promptly notify Purchaser of, and shall promptly deliver to Purchaser a copy of, any notice such Seller may receive, from and after the Effective Date and prior to the Closing, from any Governmental Authority, concerning a violation of laws at the Property owned by such Seller that has not been previously disclosed to Purchaser.

8.6    Access.  Each Seller agrees to afford Purchaser and its employees and authorized agents access to the Properties under its control from time to time prior to the Closing, at reasonable times and upon reasonable advance notice, provided that (i) neither Purchaser nor any of its employees or agents shall enter any portion of any Property unless accompanied by a representative of the relevant Seller and (ii) no Seller shall be required to incur any cost or expense to afford Purchaser such access. Purchaser specifically agrees that neither it nor any of its employees or agents shall communicate directly with any Tenants or employees of any Seller other than the manager of the Property, without the relevant Seller’s prior written consent, which consent may be withheld in such Seller’s sole and absolute discretion; provided, that, Purchaser shall (i) inform Sellers in advance of any proposed contact with any employee or Tenant of any Seller and shall give Sellers reasonable opportunity to participate in, or join, any interaction (including by phone, email or any other electronic means) with such persons and (ii) provide Sellers with copies of all communications with such persons.

8.7    Casualty and Condemnation.  A Seller shall promptly deliver to Purchaser notice of any fire or other material casualty occurring at a Property owned by such Seller between the Effective Date and the date of Closing.  A Seller shall promptly deliver Purchaser notice of any actual or threatened condemnation of all or any part of the Property owned by such Seller of which Seller obtains knowledge.

8.8    Estoppel Certificates.  Sellers shall deliver a request for an estoppel certificate to each Tenant under an Existing Lease (substantially in the form attached hereto as Part 1 of Schedule 4 or, at the option of Sellers, in a form which otherwise certifies as to those matters which are specifically required to be certified by such Tenant pursuant to the provisions of such Tenant’s Lease), and during the period between the Effective Date and the Closing shall use commercially reasonable efforts to cause such Tenants to execute and return such estoppel certificates to the 

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relevant Seller and Purchaser on or prior to the date that is three (3) Business Days prior to the Closing Date.  Sellers shall deliver a request for an estoppel certificate to each ground lessor under each Ground Lease (only with respect to the matters required to be certified by the ground lessors under paragraph 22 of the Ground Leases), and shall use commercially reasonable efforts to cause such ground lessors to execute and return such estoppel certificates to the relevant Seller and Purchaser on or prior to the date that is three (3) Business Days prior to the Closing Date.  Sellers shall deliver a request for an estoppel certificate to each of the associations and/or entities set forth on Schedule 12 (the “Additional Estoppel Parties”) (substantially in the form attached hereto as Part 3 of Schedule 4), and during the period between the Effective Date and the Closing shall use commercially reasonable efforts to cause such Additional Estoppel Parties to execute and return such estoppel certificates to the relevant Seller and Purchaser on or prior to the date that is three (3) Business Days prior to the Closing Date.  Sellers shall promptly provide Purchaser with a copy of any of the foregoing estoppels received by any Seller, regardless of whether it is in the form attached to Schedule 4.
ARTICLE IX.
CLOSING CONDITIONS
9.1    Conditions to Obligations of Seller.  The obligations of Sellers under this Agreement to sell the Assets and consummate the other transactions contemplated hereby shall be subject to the satisfaction of the following conditions on or before the Closing Date, except to the extent that any of such conditions may be waived by each Seller in writing at or prior to Closing in each Seller’s sole and absolute discretion.

9.1.1    Representations, Warranties and Covenants of Purchaser. All representations and warranties of Purchaser contained in Article VII of this Agreement shall be true and correct in all material respects as of the Closing Date (except for any representations and warranties of Purchaser that are already qualified by materiality, which such representations and warranties of Purchaser must be true and correct in all respects as of the Closing Date), with the same force and effect as if such representations and warranties were made anew as of the Closing Date, and Purchaser shall have performed and complied with all covenants and agreements required by this Agreement to be performed or complied with by Purchaser on or prior to the Closing Date.  Seller shall have received a certificate signed by an authorized officer of Purchaser to such effect.

9.1.2    Conditions. Purchaser shall have delivered the documents and instruments (including the Balance of the Purchase Price) required to be delivered by Purchaser pursuant to Section 10.2 of this Agreement.

9.1.3    Termination.  Subject to Article XII and further subject to Purchaser’s right to adjourn the Closing hereunder, in the event Sellers shall elect not to close due to the failure of any one or more of the conditions precedent to Sellers’ obligation to sell set forth in this Section 9.1 which has not been waived by each of Sellers in writing in each Seller’s sole and absolute discretion, Sellers shall so notify Purchaser by 11:30 a.m. Eastern time on the day of Closing in writing specifying the unfulfilled conditions, and Purchaser shall direct the Escrow Agent to promptly deliver the Deposit to Sellers, and this Agreement shall terminate, and neither party shall have any further obligation under this Agreement (except the Surviving Termination Obligations). 

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Provided, that if Sellers fails to notify Purchaser by 11:30 a.m. Eastern time on the day of Closing of any unfulfilled conditions, such conditions shall be deemed to have been waived by Sellers and the parties will proceed to Closing (subject to any other applicable provisions of this Agreement).

9.2    Conditions to Obligations of Purchaser.  The obligations of Purchaser under this Agreement to purchase the Assets and consummate the other transactions contemplated hereby shall be subject to the satisfaction of the following conditions on or before the Closing Date, except to the extent that any of such conditions may be waived by Purchaser in writing at or prior to Closing in Purchaser’s sole and absolute discretion.

9.2.1    Representations, Warranties and Covenants of Seller. All representations and warranties of Sellers contained this Agreement (disregarding any references therein to materiality), other than the representations and warranties of Sellers set forth in Sections 6.1.1, 6.1.2, 6.1.13, 6.1.14 hereof (the “Seller Fundamental Representations”), shall be true and correct as of the Closing Date (other than any variations that arise from any changes in circumstances, events or actions occurring or taken from and after the Effective Date that have occurred in the operation of the Assets in the ordinary course of business, consistent with past practice and are not expressly prohibited by the terms hereof), with the same force and effect as if such representations and warranties were made anew as of the Closing Date (with such variations that arise from any changes in circumstances, events or actions occurring or taken from and after the Effective Date that have occurred in the operation of the Assets in the ordinary course of business, consistent with past practice and are not expressly prohibited by the terms hereof), in each case except for breaches as to matters that, individually or in the aggregate, would not reasonably be expected to have a material adverse effect on the financial condition or value of the Assets taken as a whole, and Sellers shall have performed and complied, in all material respects, with all covenants and agreements required by this Agreement to be performed or complied with by Sellers on or prior to the Closing Date.  The Seller Fundamental Representations (disregarding any references therein to materiality) shall be true and correct in all material respects as of the Closing Date, with the same force and effect as if such representations and warranties were made anew as of the Closing Date.  Purchaser shall have received a certificate (the “Sellers Bring-Down Certificate”) signed by an authorized officer of Sellers to the effect of the provisions of this Section.  For the avoidance of doubt, notwithstanding anything in this Section 9.2.1, Purchaser shall be entitled to deliver a Notice of Breach to Sellers for any breach of a representation or warranty of Sellers (other than any variations that are both (a) disclosed in the Sellers Bring-Down Certificate and (b) arise from any changes in circumstances, events or actions occurring or taken from and after the Effective Date that have occurred in the operation of the Assets in the ordinary course of business, consistent with past practice and are not expressly prohibited by the terms hereof), regardless of whether such breach is material, has a material adverse effect or was known or disclosed to Purchaser prior to Closing.   

9.2.2    Conditions.  Sellers shall have delivered the documents and instruments required to be delivered by Sellers pursuant to Section 10.1 of this Agreement.

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9.2.3    Required Tenant Estoppel Certificates. Purchaser shall have received an estoppel certificate dated no more than thirty (30) days prior to Closing (provided that if either Purchaser or Sellers exercise its right to extend the Closing Date set forth in Section 4.1.3 hereof, then such estoppel certificates may be dated no more than sixty (60) days prior to Closing) (“Tenant Estoppel”) from Tenants under Leases covering seventy-five percent (75%) of the gross Leased area (as of the Effective Date) of all of the Properties (excluding from such calculation of the gross Leased area any Leases set forth on Schedule 19 attached hereto (collectively, the “Immaterial Leases”) and the Progressive Lease) and from any Tenant under any Lease of a portion of any Property in excess of 30,000 square feet (collectively, the “Required Tenant Estoppels”) substantially in the form attached hereto as Part 1 of Schedule 4 (with such other modification as may be reasonably agreed by Purchaser) or in a form which otherwise certifies as to those matters which are specifically required to be certified by such Tenant pursuant to the provisions of such Tenant’s Lease, without material adverse modifications, defaults or reservations of rights alleged on the part of the Tenant under the applicable Lease (an “Acceptable Form”) (for the avoidance of doubt, the following shall not be considered material adverse modifications to a Tenant Estoppel: (a) a Tenant making note of items which constitute Permitted Exceptions or items which Sellers otherwise agrees to discharge (in their sole discretion), (b) modifications to conform the same to the applicable Lease or other information delivered to Purchaser and (c) a Tenant limiting its statements other than with respect to (i) Tenant’s compliance with its Lease, (ii) the premises demised under its Lease and (iii) the term of and rental due under its Lease “to tenant’s knowledge” (or words of similar import)); provided that Purchaser’s closing condition as set forth in this subparagraph shall be deemed satisfied and irrevocably waived by Purchaser if the Required Tenant Estoppels have been delivered to Purchaser at any time after the Effective Date and Purchaser does not object in a written notice to Sellers specifying Purchaser’s objections to the form of the Tenant Estoppel within five (5) Business Days after receipt thereof. If requested by Purchaser, Sellers shall request updates within thirty (30) days of the Closing Date to any Required Tenant Estoppel, and Sellers shall reasonably cooperate with Purchaser (at no out-of pocket cost to Sellers) to obtain same, but the delivery of such updates to the Required Tenant Estoppels shall not be a condition to Closing.  Notwithstanding anything to the contrary, if Sellers fail to deliver the Required Tenant Estoppels at the Closing after using commercially reasonable efforts, Sellers may (but shall not be obligated to) deliver certificates executed by a Seller in the form attached as Part 2 of Schedule 4 hereto (the “Seller Estoppels”) for up to a maximum of five percent (5%) of the gross Leased area (as of the Effective Date) of all of the Properties (excluding from such calculation of the gross Leased area any Immaterial Leases and the Progressive Lease) for any Lease of a portion of any Property equal to or less than 30,000 square feet,  any such Seller Estoppel shall be dated as of the Closing Date and such Seller Estoppels shall be treated as Tenant Estoppels for purposes of calculating Sellers’ obligation deliver Tenant Estoppels from Tenants under Leases covering seventy-five percent (75%) of the gross Leased area (as of the Effective Date) of all of the Properties (excluding from such calculation of the gross Leased area any Immaterial Leases and the Progressive Lease).  In addition, Sellers shall be released from any liability with respect to any Seller Estoppel upon the delivery to Purchaser of an executed Tenant Estoppel in Acceptable Form from such tenant for which a Seller has delivered such Seller Estoppel.  Other than as set forth in this Section 9.2.3, the receipt of any Tenant Estoppel or any matter raised in any Tenant Estoppel shall not be a condition to Closing.  Notwithstanding anything to the contrary in this Section or any other provision of this Agreement, Sellers shall not be required to seek or obtain a Tenant Estoppel for Progressive Insurance’s lease 

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of space in Corporate Centre III (the “Progressive Lease”) and the Progressive Lease shall not constitute a Required Tenant Estoppel.

9.2.4    Required Ground Lease Estoppels.  Purchaser shall have received an estoppel certificate dated no more than thirty (30) days prior to Closing (“Ground Lessor Estoppel”) from the ground lessors under the Ground Leases certifying as to those matters which are specifically required to be certified by such ground lessors pursuant to the provisions of such Ground Lease without material adverse modifications, defaults or reservations of rights alleged on the part of the ground lessor under the applicable Ground Lease.

9.2.5    Termination.  Subject to Article XII and further subject to Sellers’ right to adjourn the Closing hereunder, in the event Purchaser shall elect not to close due to the failure of any one or more of the conditions precedent to Purchaser’s obligation to consummate this transaction set forth in this Section 9.2 which has not been waived by Purchaser in writing in Purchaser’s sole and absolute discretion, Purchaser shall so notify Sellers by 11:30 a.m. Eastern time on the day of Closing in writing specifying the unfulfilled conditions and this Agreement shall terminate and, so long as Purchaser is not in material default or breach of its obligations under this Agreement, Purchaser shall be entitled to receive the Deposit, provided that if Purchaser fails to notify Sellers by 11:30 a.m. Eastern time on the day of Closing of any unfulfilled conditions, such conditions shall be deemed to have been waived by Purchaser and the parties will proceed to Closing (subject to any other applicable provisions of this Agreement).

9.3    Conditions to Obligations of Purchaser and Seller.  The obligations of Purchaser and Sellers under this Agreement to purchase and sell the Assets and consummate the other transactions contemplated hereby shall be subject to the absence of any order, writ, injunction or decree (collectively, “Order”) having been entered and be in effect by any court of competent jurisdiction or any authority, and the absence of any requirement of any Governmental Authority having been promulgated or enacted and be in effect, that restrains, enjoins or invalidates the transactions contemplated hereby (a “Restrictive Order”).  If any Restrictive Order is in effect at Closing, either Purchaser or Sellers may terminate this Agreement by written notice  to the other party and to the Escrow Agent, at which point, so long as Purchaser is not in material default or material breach of its obligations under this Agreement, the Deposit shall be promptly paid to and retained by Purchaser; provided that if any Restrictive Order shall be in effect as a direct or indirect result of any of Purchaser’s or its affiliates’ acts or omissions and Purchaser or Sellers terminate this Agreement, such termination shall constitute a material default by Purchaser hereunder, entitling Sellers to all rights and remedies provided under Section 12.2 hereof (and Purchaser shall not be entitled to the Deposit).
ARTICLE X.
CLOSING
10.1    Sellers’ Closing Obligations.  Sellers shall execute, acknowledge (where applicable) and deliver or cause to be delivered to Purchaser at Closing the following:

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10.1.1    Sale deeds for each Property (other than each Property owned by a Seller subject to a Ground Lease) substantially in the form of the relevant State or Commonwealth sale deeds set out on Exhibits D-1 through D-6 attached hereto, conveying to Purchaser or its permitted assignees or designees each Seller’s right, title and interest in the Properties, subject only to the Permitted Exceptions (the “Deeds”) together with any transfer tax forms as may be required in connection therewith (assuming the provision by Purchaser of any information or signatures needed to complete such forms);

10.1.2    If not already provided to Purchaser, whether in hard copy or electronic form, copies of all Existing Leases and New Leases (if any) in effect on such date and an assignment and assumption of Leases in substantially the form set out in Part 1 of Schedule 6;

10.1.3    Assignment and assumptions of the Assumed Service Contracts in substantially the form set out in Part 2 of Schedule 6;

10.1.4    Assignments of Assigned Property in substantially the form set out in Exhibit J attached hereto;

10.1.5    Bills of sale substantially in the form of Exhibit E attached hereto conveying, transferring and selling to Purchaser or its permitted assignees or designees (with no value separate from the other Assets) all right, title and interest of Sellers in and to the Personal Property;

10.1.6    Certificates substantially in the form of Exhibit F attached hereto certifying that each Seller is not a “foreign person” as defined in Section 1445 of the Code;

10.1.7    An owner’s title affidavit in the form attached hereto as Schedule 22;

10.1.8    An original certificate signed by an authorized senior officer of each Seller attaching a true, complete and correct copy of the resolutions of Sellers authorizing the execution by each Seller of this Agreement;

10.1.9    Letters to each Tenant under the Leases in the form of Exhibit K hereto, notifying Tenants of the conveyance of the Properties to Purchaser and advising them that, following the Closing Date, all future payments of rent are to be made in the manner set forth therein;

10.1.10  A rent roll for the Properties dated as of the Closing Date;

10.1.11  The final Closing Statement signed by an authorized senior officer of each Seller;

10.1.12  Transfer documentation necessary to transfer (if possible) any letters of credit held by Sellers in connection with the Leases;

10.1.13  A ground lease assignment for each Property owned by a Seller subject to a Ground Lease assigning such Seller’s ground leasehold interest to Purchaser in the form attached 

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hereto as Exhibit I (as applicable, a “Ground Lease Assignment”), as well as a notice of assignment of each Ground Lease in recordable form;

10.1.14  Evidence of the termination of all agreements for the property management of any portion of the Properties and all brokerage leasing agreements for any portion of the Properties effective as on or before the Closing Date;

10.1.15  Possession of the Properties, subject only to the Leases (but excluding the Excluded Leases) and Permitted Exceptions; and

10.1.16  All other instruments as are reasonably requested by Purchaser and are customarily executed by sellers in the states where the Properties are located to effectuate the conveyance of property similar to the Properties.

10.2    Purchaser’s Closing Obligations.  Purchaser, at its sole cost and expense, shall deliver or cause to be delivered to Sellers at Closing the following:

10.2.1    The Balance of the Purchase Price, after all adjustments are made at the Closing as herein provided, by Federal Reserve wire transfer of immediately available funds;

10.2.2    An original certificate signed by an authorized senior officer of Purchaser attaching a true, complete and correct copy of the resolution of Purchaser authorizing the execution by Purchaser of this Agreement; and

10.2.3    A counterpart original of each Ground Lease Assignment.

10.2.4    All other instruments as are reasonably requested by Sellers and are customarily executed by purchasers in the states where the Properties are located to effectuate the conveyance of property similar to the Properties.
ARTICLE XI.
RISK OF LOSS
11.1    Casualty. Notwithstanding any other provision of this Agreement, if all or any part any Property is damaged by fire or other casualty occurring following the Effective Date and prior to the Closing, if such damage affects less than 25% of the rentable square feet of any Property, no party shall have the right to terminate this Agreement, and the parties shall nonetheless consummate this transaction in accordance with this Agreement, without any abatement of the Purchase Price or any liability or obligation on the part of any Seller by reason of said destruction or damage.  In such event, or in the event that all or any part of any Property is damaged by fire or other casualty occurring following the Effective Date and prior to the Closing (regardless whether or what portion of any Property is rendered unusable) and this Agreement is not terminated pursuant to the terms hereof, the relevant Seller shall, on the Closing Date (and subject to the Closing having occurred), assign to Purchaser, and Purchaser shall have the right to make a claim for and to retain casualty insurance proceeds (less any costs or expenses incurred by the Sellers prior to Closing with respect to any repairs or rebuilding approved by Purchaser in its reasonable discretion 

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(provided that no such approval shall be required for Sellers to take any action reasonably required pursuant to Leases or any documentation related to any indebtedness over the Properties), which such amounts shall not be assigned and shall be remitted to Sellers) received under, the casualty insurance policies in effect with respect to such Property on account of said physical damage or destruction as shall be necessary to perform repairs to the Improvements and/or to rebuild the Improvements to substantially the same condition as the same existed prior to the occurrence of such fire or other casualty, and Purchaser shall receive a credit against the cash due at Closing for the amount of the deductible on such casualty insurance policy.  If such damage renders, or is reasonably expected to render, 25% or more of the rentable square feet of any Property, other than those Properties set forth on Schedule 18 hereof (collectively, the “Casualty Properties”), unusable for a period of more than six months, Purchaser shall have the right, in its sole discretion to terminate this Agreement by written notice to the Sellers and the Escrow Agent, at which point a portion of the Deposit equal to $3,000,000.00 shall be promptly paid to and retained by Sellers as compensation for the time, costs, expenses and other burdens associated with the negotiation and attempted execution of the transactions described herein and the balance of the Deposit shall be promptly paid to and retained by the Purchaser and the parties shall have no further obligations under this Agreement (except for the Surviving Termination Obligations).

11.2    Condemnation.  Notwithstanding any other provision of this Agreement, if, prior to the Closing Date, any part of any Property is taken (other than a temporary taking), or if a Seller shall receive an official notice from any Governmental Authority having eminent domain power over a Property of its intention to take, by eminent domain proceeding, any part of a Property (a “Taking”), no party shall have any right to terminate this Agreement, and the parties shall nonetheless consummate this transaction in accordance with this Agreement, without any abatement of the Purchase Price or any liability or obligation on the part of any Seller by reason of such Taking; provided, however, that the relevant Seller who owned the Property subject to the Taking shall, on the Closing Date (and subject to the Closing having occurred), (i) assign and remit to Purchaser, and Purchaser shall be entitled to receive and keep, the net proceeds of any award or other proceeds of such Taking which may have been collected by such Seller as a result of such Taking less the reasonable expenses incurred by such Seller in connection with such Taking, or (ii) if no award or other proceeds shall have been collected, deliver to Purchaser, an assignment of Seller’s right to any such award or other proceeds which may be payable to such Seller as a result of such Taking, and Purchaser shall reimburse such Seller on an indemnity basis for the reasonable expenses incurred by such Seller in connection with such Taking.

11.3    General Obligations Law.  For the avoidance of doubt, the provisions of ARTICLE XI are intended to supersede the application to this Agreement of Section 5-1311 of the New York General Obligations Law and any similar provision of Law in any other jurisdiction that establishes a default rule for the allocation of risk of loss following a casualty or condemnation.
ARTICLE XII.
PRE-CLOSING DEFAULT AND INDEMNIFICATION

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12.1    Default by a Seller.  Except as set forth below, in the event of a material default hereunder by any Seller on or prior to Closing, and provided that Purchaser is not also in material breach or material default of its obligations under this Agreement, Purchaser may elect, as its sole and exclusive remedy prior to Closing to (i) terminate this Agreement and receive the Deposit from the Escrow Agent in accordance with the terms and provisions of Section 3.1 hereof, and in such event, Sellers shall not have any liability whatsoever to Purchaser hereunder other than with respect to the Surviving Termination Obligations or (ii) specifically enforce the terms and conditions of this Agreement.  Notwithstanding the foregoing, if Sellers willfully sell, convey or otherwise transfer or dispose of (whether or not for consideration or of record) any Property to any person or entity other than Purchaser (or Purchaser’s designee(s) or assignee(s)) such that specific performance of the Agreement is not available (the “Liquidated Damages Right”), Purchaser shall receive the Deposit from the Escrow Agent in accordance with the terms and provisions of Section 3.1 hereof and Sellers shall pay to Purchaser Thirty Five Million and No/100 Dollars ($35,000,000.00) as liquidated damages (“Liquidated Damages”) to compensate Purchaser for its damages in connection with such breach and thereupon, and this Agreement shall terminate, and neither any Seller nor Purchaser shall have any further rights or obligations hereunder except with respect to the Surviving Termination Obligations.  Purchaser and each Seller agree it would be impractical and extremely difficult to fix the damages which Purchaser may suffer.  Therefore, Purchaser and each Seller hereby agree a reasonable estimate of the total net detriment Purchaser would suffer in the event Sellers trigger the Liquidated Damages Right is and shall be, as Purchaser’s sole and exclusive remedy (whether at law or in equity), a sum equal to the Liquidated Damages.   THE AMOUNT OF SUCH LIQUIDATED DAMAGES SHALL BE THE FULL, AGREED AND LIQUIDATED DAMAGES FOR SELLERS TRIGGERING  THE LIQUIDATED DAMAGES RIGHT, AND ALL OTHER CLAIMS TO DAMAGES OR OTHER REMEDIES FOR SUCH FAILURE TO COMPLY AND FRUSTRATION BEING HEREBY EXPRESSLY WAIVED BY PURCHASER.

NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED HEREIN, PURCHASER HEREBY IRREVOCABLY WAIVES ANY RIGHT TO FILE A LIS PENDENS OR OTHER LIEN AGAINST ANY ASSET (OR ANY PORTION THEREOF) IN THE EVENT OF AN ALLEGED OR ACTUAL DEFAULT BY A SELLER HEREUNDER.  PURCHASER ACKNOWLEDGES AND AGREES THAT (1) PURCHASER HAS HAD THE ADVICE OF COUNSEL OF ITS OWN SELECTION WHO HAS REVIEWED THIS SECTION 12.1 IN CONNECTION WITH THE EXECUTION AND DELIVERY OF THIS AGREEMENT, (2) THE TERMS OF THIS AGREEMENT WERE NEGOTIATED AT ARMS LENGTH AND (3) THE WAIVERS BY PURCHASER CONTAINED IN THIS SECTION 12.1 ARE MADE ON A FULLY INFORMED BASIS AND (4) PURCHASER UNDERSTANDS THE EFFECT OF SUCH WAIVERS.
12.2    Default by Purchaser.  In the event of a material default hereunder by Purchaser on or prior to Closing, Purchaser and each Seller agree it would be impractical and extremely difficult to fix the damages which Sellers may suffer.  Therefore, Purchaser and each Seller hereby agree a reasonable estimate of the total net detriment Sellers (in aggregate) would suffer in the event Purchaser materially defaults is and shall be, as Sellers’ sole and exclusive remedy in respect of any such material default (whether at law or in equity), a sum equal to the Deposit.  Upon such material default by Purchaser, Sellers (acting together) shall have the right to promptly receive the 

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Deposit from the Escrow Agent, in accordance with the terms and provisions of Section 3.1 hereof, as its sole and exclusive remedy prior to Closing in respect of any such material default, and thereupon, this Agreement shall terminate, and neither any Seller nor Purchaser shall have any further rights or obligations hereunder except with respect to the Surviving Termination Obligations.  THE AMOUNT OF THE DEPOSIT SHALL BE THE FULL, AGREED AND LIQUIDATED DAMAGES FOR PURCHASER’S MATERIAL DEFAULT AND FAILURE TO COMPLETE THE PURCHASE OF THE ASSETS, ALL OTHER CLAIMS TO DAMAGES OR OTHER REMEDIES FOR SUCH MATERIAL DEFAULT BEING HEREBY EXPRESSLY WAIVED BY EACH SELLER.
    
12.3    Indemnification.

12.3.1    Indemnification by Sellers. Following the Closing and subject to Sections 12.3.3 through 12.3.7, Sellers, jointly and severally, shall save, protect, defend, indemnify and hold Purchaser harmless from and against any and all out of pocket costs, fees, expenses, damages, deficiencies, interest and penalties (including, without limitation, reasonable outside attorneys’ fees and disbursements) suffered or incurred by Purchaser in connection with any and all losses, liabilities, claims, damages and out of pocket expenses (“Losses”), arising out of (a) any breach of any representation or warranty of Sellers contained in this Agreement and (b) any breach of any covenant of Sellers which survives the Closing contained in this Agreement.

12.3.2    Indemnification by Purchaser. Following the Closing and subject to Sections 12.3.3 through 12.3.7, Purchaser shall save, protect, defend, indemnify and hold Sellers harmless from any and all Losses arising out of (a) any breach of any representation or warranty by Purchaser contained in this Agreement, (b) any breach of any covenant of Purchaser which survives the Closing contained in this Agreement and (c) any liability under any Ground Lease (if any obligation or liability of a Seller under a Ground Lease is not released concurrently with the Ground Lease Assignment, notwithstanding Purchaser’s reasonable best efforts pursuant to Section 5.5 until such time as a release of the relevant Sellers from each Ground Lease has been obtained).

12.3.3    Limitation on Indemnification. Notwithstanding anything to the contrary or inconsistent in this Agreement or in any of the agreements, certificates or affidavits delivered by any Seller pursuant to this Agreement, (i) no Seller shall have any liability for any Losses suffered or incurred by Purchaser as a result of any default or breach by any Seller of any provision of this Agreement or the inaccuracy of any of the representations or warranties of any Seller set forth in Section 6.1 hereof (“Purchaser’s Damages”) unless and until the aggregate sum of such obligations of all Sellers shall have a monetary value of $500,000.00 or more (the “Liability Basket”) (provided that if  Purchaser’s Damages, in the aggregate, meet or exceed the Liability Basket, then Sellers shall be liable for the full amount of Purchaser’s Damages, including the Liability Basket, subject to clause (ii) hereof) and (ii) the aggregate liability of each Seller arising pursuant to or in connection with any default or breach by such Seller of any provision of this Agreement or the inaccuracy of any of the representations or warranties of such Seller set forth in Section 6.1 hereof shall not exceed an amount equal to $10,000,000.00 (the “Liability Cap”).  Provided however, notwithstanding anything to the contrary, in no event shall either the Liability Basket or the Liability Cap apply to any Losses and/or claims arising from or in connection with (a) fraud by any Seller, (b) Section 13.1 hereof, (c) Section 4.2.2, and/or 4.4 (d) any misrepresentation contained in or omission from 

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any Seller Estoppel, (e) a breach of  the representations and warranties of the Sellers set forth in Sections 6.1.1, 6.1.2, 6.1.13, 6.1.14, 6.1.15 and/or 6.1.17, and (f) any other breach by Sellers of any covenant set forth in this Agreement.

12.3.4    Notification.  In the event that any indemnified party (“Indemnified Party”) becomes aware of any claim or demand for which an indemnifying party (an “Indemnifying Party”) may have liability to such Indemnified Party hereunder (an “Indemnification Claim”), such Indemnified Party shall promptly, but in no event more than 30 days following such Indemnified Party’s having become aware of such Indemnification Claim, notify the Indemnifying Party in writing of such Indemnification Claim, the amount or the estimated amount of damages sought thereunder to the extent then ascertainable (which estimate shall not be conclusive of the final amount of such Indemnification Claim), any other remedy sought thereunder, any relevant time constraints relating thereto and, to the extent practicable, any other material details pertaining thereto (a “Claim Notice”); provided, that no delay on the part of the Indemnified Party in giving any such notice of a Indemnification Claim shall relieve the Indemnifying Party of any indemnification obligations hereunder except to the extent that the Indemnifying Party is prejudiced by such delay.  If the claim or demand set forth in the Claim Notice is related to a claim or demand asserted by a third party, the Indemnifying Party shall have fifteen (15) days after the date on which Claim Notice is given to notify the Indemnified Party in writing of its election to defend such third party claim or demand on behalf of (and in the name of) the Indemnified Party.  If the Indemnifying Party notice elects to defend such third party claim or demand, the Indemnified Party shall make available to the Indemnifying Party and its agents and representatives all records and other materials which are reasonably required in the defense of such third party claim or demand and shall otherwise cooperate with, and assist the Indemnifying Party in the defense of, such third party claim or demand.  So long as the Indemnifying Party, is defending such third party claim in good faith, the Indemnified Party shall not pay, settle or compromise such third party claim or demand.  The Indemnifying Party may, if they elect to defend a third party claim, pay, settle or compromise such third party claim or demand (i) with the written consent of the Indemnified Party or (ii) without such consent, so long as such settlement includes (A) an unconditional release of the Indemnified Party from all Losses in respect of such claim or litigation, (B) does not subject the Indemnified Parties to any injunctive relief or other equitable remedy, and (C) does not include a statement or admission of fault, culpability or failure to act by or on behalf of the Indemnified Party.

12.3.5    Survival. The express representations and warranties made in this Agreement by Sellers shall not merge into any instrument of conveyance delivered at the Closing and all of the representations and warranties made in this Agreement by Sellers shall survive the Closing for a period of nine (9) months (provided, that, the representations and warranties in Sections 6.1.1, 6.1.2, 6.1.11, 6.1.12, 6.1.13, 6.1.14 and 6.1.15 shall survive for the statutory period set out in the applicable statute of limitations) (the “Survival Period”).  An Indemnified Party shall not be entitled to assert any indemnification pursuant to Section 12.3 after the date the Survival Period expires (or, in relation to Purchaser’s representations and warranties, the relevant time period set out in Section 7.4) in respect of the relevant representation and warranty; provided, that if on or prior to the date on which such representation or warranty ceases to survive, a Claim Notice shall have been given by the Indemnified Party pursuant to Section 12.3.4 for such indemnification, the Indemnified Party shall continue to have the right to be indemnified with respect to such indemnification claim until such claim for indemnification has been satisfied or otherwise resolved as provided in this Section12.3.

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12.3.6    Indemnification as Sole Remedy. If the Closing has occurred, the sole and exclusive remedy available to a party in the event of a breach by the other party to this Agreement of any representation, warranty, covenant or other provision of this Agreement which survives the Closing shall be the indemnifications provided for under this Section 12.3. The terms and provisions of this Section 12.3 shall survive the Closing.

12.3.7    The terms and provisions of this Section 12.3 shall survive Closing and/or termination of this Agreement.
ARTICLE XIII.
BROKERS
13.1    Brokerage Indemnity.

13.1.1    Each Seller and Purchaser each represents and warrants to the other that it has not dealt or negotiated with any broker in connection with the sale of the Assets as provided by this Agreement other than Holliday Fenoglio Fowler, L.P. (the “Broker”), who represents Sellers.

13.1.2    Each of (a) Purchaser, and (b) Sellers jointly and severally, shall indemnify, defend and hold harmless Sellers and Purchaser (respectively) and each of their affiliates, and its and their partners, members, trustees, advisors, officers, and directors, against all losses, damages, costs, expenses (including reasonable fees and expenses of attorneys), causes of action, suits or judgments of any nature arising out of any claim, demand or liability to or asserted by any broker, agent or finder, licensed or otherwise, claiming to have dealt with Purchaser or Sellers (respectively) in connection with this transaction other than the Broker.

13.1.3    Sellers shall pay the Broker in connection with the consummation of the transactions contemplated by this Agreement pursuant to a separate agreement between Sellers and the Broker.  The provisions of this Article XIII shall survive the Closing and/or termination of this Agreement.
ARTICLE XIV.
PUBLICATION
14.1    Publication; Audit Rights.

(a)    Prior to Closing, neither Purchaser nor Sellers shall disclose the existence of this Agreement or the negotiations leading to or of any of the terms hereof, or issue any press release or other information to the public regarding the transaction contemplated herein, except as may be expressly approved in writing in advance by the other party hereto.  Notwithstanding the foregoing, either party shall be permitted to make such disclosures solely to the extent as are required in order to avoid a violation of applicable law, including the securities laws and laws relating to financial reporting, in which case the party required to make the disclosure shall allow the other party reasonable time to comment on such release or announcement in advance of such public disclosure.  Provided further, that Purchaser shall not to disclose the name of, or any information related to, any 

39

affiliate of Sellers (other than each Seller) (whether prior to or after Closing) except to the extent required by applicable law.  Sellers specifically acknowledges that Parkway Properties, Inc., an affiliate of Purchaser, is a publicly traded company on the New York Stock Exchange and is subject to the listing requirements thereof, as well as the reporting requirements of the United States Securities and Exchange Commission.

(b)Sellers understand that Purchaser may be required to complete an audit of the Assets in accordance with U.S. generally accepted accounting principles and that such audit may be required to be filed with the U.S. Securities and Exchange Commission. Sellers agrees to retain all existing books and records relating to the Assets for no less than eighteen (18) months after Closing and to make the same to the extent relating to the Assets available to Purchaser for inspection, copying, audit, and filing to the extent required by the United States Securities and Exchange Commission, or pursuant to other applicable federal or state securities laws, rules or regulations and to cooperate, at Purchaser’s cost and expense, in all reasonable respects with Purchaser and its auditors to complete any such audit, provided that such cooperation does not unreasonably interfere with the conduct of the business of Sellers or its affiliates.  This Section 14.1 shall survive Closing.
ARTICLE XV.
MISCELLANEOUS
15.1    Notices.  Any and all notices, requests, demands or other communications hereunder (before or after Closing) shall be given in writing and by hand delivery, by facsimile delivery (with confirmation by hard copy), by overnight courier, by electronic mail in the form of a .pdf file (with telephone confirmation within one Business Day following) or by registered or certified mail, return receipt requested, first class postage prepaid addressed as follows (or to such new address as the addressee of such a communication may have notified the sender thereof):

To Sellers:            Interventure Advisors, LP
810 Seventh Avenue, Suite 3601
New York, NY 10019 
Attn: Teresa Tsai
Fax No:  (646) 376-4684

With a copy to:        Sullivan & Cromwell LLP
125 Broad Street
New York, New York 10004 
Attn: Robert Schlein, Esq.
Fax No:  +1 212 558 3588

40

To Purchaser:            390 North Orange Avenue, Suite 2400
Orlando, Florida  32801
Attention: Jason A. Bates 
Fax No.:  407.650.0597

With a copy to:        390 North Orange Avenue, Suite 2400
Orlando, Florida  32801
Attention: General Counsel
Fax No.:  407.650.0597

With a copy to:        Bilzin Sumberg
1450 Biscayne Boulevard, Suite 2300
Miami, Florida  33131
Attention:  James W. Shindell, Esq.
Fax No.  305.351.2256

To Escrow Agent:         Chicago Title Insurance Company
711 Third Avenue, 5th Floor
New York, NY 10017 
Attention: Yosi (Joe) Benlevi
Fax No.: (212) 880-9635

Purchaser’s counsel may give any notices or other communications hereunder on behalf of Purchaser, and Sellers’ counsel may give any notices or other communications hereunder on behalf of each Seller, and each notice so given shall have the same force and effect as if sent by such party.  Any notice hereunder shall be deemed given on the date of receipt by the addressee or the date receipt would have been effectuated if delivery were not refused.  The inability to deliver a notice because of a changed address of which proper notice was not given shall be deemed a refusal of such notice.
15.2    Governing Law; Venue.

15.2.1    This Agreement was negotiated in the State of New York and was executed and delivered by each Seller and Purchaser in the State of New York, which State the parties agree has a substantial relationship to the parties and to the underlying transactions embodied hereby, and in all respects, including, without limiting the generality of the foregoing, matters of construction, validity, enforcement and performance, this Agreement and the obligations arising hereunder shall be governed by and construed in accordance with the laws of the State of New York except where a specific provision is required by the applicable law of the State where an Asset is located to be governed by the law of such State. To the fullest extent permitted by law (but subject to the provision in the preceding sentence), the parties hereby unconditionally and irrevocably waive and release any claim that the law of any other jurisdiction governs this Agreement, and this Agreement shall be governed and construed in accordance with the laws of the State of New York as aforesaid pursuant to Section 5-1401 of the New York General Obligations Law.

41

15.2.2    To the maximum extent permitted by applicable law, any legal suit, action or proceeding against any of the parties hereto arising out of or relating to this Agreement shall be instituted in any federal or state court in New York, New York, pursuant to Section 5-1402 of the New York General Obligations Law, and each party hereby irrevocably submits to the exclusive jurisdiction of any such court in any such suit, action or proceeding.  Each party hereby agrees to venue in such courts and hereby waives, to the fullest extent permitted by law, any claim that any such action or proceeding was brought in an inconvenient forum.

15.3    Headings.  The captions and headings herein are for convenience and reference only and in no way define or limit the scope or content of this Agreement or in any way affect its provisions.

15.4    Business Days.  If any date herein set forth for the performance of any obligations of a Seller or Purchaser or for the delivery of any instrument or notice as herein provided should be on a Saturday, Sunday or legal holiday, the compliance with such obligations or delivery shall be deemed acceptable on the next business day following such Saturday, Sunday or legal holiday.  As used herein, the term “legal holiday” means any state or Federal holiday for which financial institutions or post offices are generally closed in the State of New York.  As used herein, the term “Business Day” means any day that is not Saturday, Sunday or legal holiday.

15.5    Counterpart Copies.  This Agreement may be executed in two or more counterpart copies, all of which counterparts shall have the same force and effect as if all parties hereto had executed a single copy of this Agreement.  Counterparts executed and delivered by electronic means, including but not limited to facsimile or .pdf, shall be fully effective and binding and shall constitute originals.

15.6    Binding Effect.  This Agreement shall not become a binding obligation upon any Seller or Purchaser unless and until the same has been fully executed by Purchaser and each Seller and a fully executed counterpart has been delivered by Sellers to Purchaser and by Purchaser to Sellers.

15.7    Successors and Assigns.  This Agreement shall be binding upon, and inure to the benefit of, the parties hereto and their respective successors and permitted assigns.

15.8    Assignment.  This Agreement may be assigned in whole or part by Purchaser to any entity wholly owned and controlled by Parkway Properties, Inc. so long as (i) Purchaser remains liable for all obligations hereunder and each such assignee is jointly and severally liable for all obligations hereunder of Purchaser along with Purchaser and each other assignee of Purchaser, (ii) any such assignment does not increase the liability or obligations of any Seller and (iii) Purchaser promptly thereafter provides Sellers with written notice of such assignment.  Other than as set forth in the previous sentence, this Agreement may not be assigned by Purchaser and any assignment or attempted assignment by Purchaser shall constitute a default hereunder and shall be deemed null and void and of no force or effect.  Any transfer of 50% or more of the membership interests in Purchaser or Parkway Properties, Inc. in one or a series of related transfers (or any change in control in the management of Purchaser or Parkway Properties, Inc.) shall constitute an assignment of this Agreement.  Purchaser may direct Sellers to execute the Deeds and other 

42

conveyance documentation, and have the final Title Policy issued, to any assignees or designees of Purchaser permitted by the foregoing or Section 15.22, at Purchaser's sole discretion, so long as (i) Purchaser advises Sellers of the same in writing at least five (5) Business Days prior to the Closing and (ii) such action does not increase the liability of any Seller.

15.9    Interpretation.  This Agreement shall not be construed more strictly against one party than against the other merely by virtue of the fact that it may have been prepared by counsel for one of the parties, it being recognized that Sellers and Purchaser have contributed substantially and materially to the preparation of this Agreement.

15.10    Entire Agreement.  This Agreement and the Exhibits and Schedules attached hereto (which are incorporated herein in full) contain the final and entire agreement between the parties hereto with respect to the sale and purchase of the Assets and are intended to be an integration of all prior negotiations and understandings.  Purchaser, each Seller and their respective agents shall not be bound by any terms, conditions, statements, warranties or representations, oral or written, not contained herein.  No change or modifications to this Agreement shall be valid unless the same is in writing and signed by each of the parties hereto.  Each party reserves the right to waive any of the terms or conditions of this Agreement which are for their respective benefit and to consummate the transactions contemplated by this Agreement in accordance with the terms and conditions of this Agreement which have not been so waived.  Any such waiver must be in writing signed by the party benefited by the applicable provision.

15.11    Severability.  If any one or more of the provisions hereof shall for any reason be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provision hereof, and this Agreement shall be construed as if such invalid, illegal or unenforceable provision had never been contained herein, unless and to the extent that the invalidation of any such term or provision materially alters the intent of the parties hereto.

15.12    Survival.  Except for those provisions of this Agreement which expressly provide that any obligation, representation, warranty or covenant contained therein shall survive the Closing or the termination of this Agreement (collectively, the “Surviving Termination Obligations”), the provisions of this Agreement and the representations and warranties herein shall not survive after the conveyance of title and payment of the Balance of the Purchase Price or the earlier termination of this Agreement.

15.13    Exhibits.  Each of the Exhibits and Schedules attached hereto are incorporated herein by reference.

15.14    Limitation of Liability.  The obligations of Sellers and Purchaser are intended to be binding only on Sellers and Purchaser and each of such party’s assets (including, with respect to Purchaser, the Deposit), and shall not be personally binding upon, nor shall any resort be had to, any of the members, partners, officers, directors, shareholders, advisors, trustees, agents, or employees of a Seller or Purchaser, or any of their respective affiliates or any of their respective properties.

43

15.15    Prevailing Party.  Should either party employ an attorney to enforce any of the provisions hereof (whether before or after Closing, and including any claims or actions involving amounts held in escrow), the nonprevailing party in any final judgment agrees to pay the other party’s reasonable attorneys’ fees and expenses in or out of litigation and, if in litigation, trial, appellate, bankruptcy or other proceedings, expended or incurred in connection therewith, as determined by a court of competent jurisdiction.  The provisions of this Section 15.15 shall survive Closing and/or any termination of this Agreement.

15.16    Real Estate Reporting Person.  Escrow Agent is hereby designated the “real estate reporting person” for purposes of Section 6045 of the Code and Treasury Regulation 1.6045-4 and any instructions or settlement statement prepared by Escrow Agent shall so provide.  Upon the consummation of the transaction contemplated by this Agreement, Escrow Agent shall file Form 1099 information return and send the statement to each Seller as required under the aforementioned statute and regulation.  The parties shall reasonably cooperate with Escrow Agent in connection with Escrow Agent’s duties as real estate reporting person.

15.17    No Recording.  Neither this Agreement nor any memorandum or short form hereof shall be recorded or filed in any public land or other public records of any jurisdiction, by any party hereto and any attempt to do so may be treated by the other party as a breach of this Agreement.

15.18    No Other Parties.  This Agreement is not intended, nor shall it be construed, to confer upon any person or entity, except the parties hereto and their respective heirs, successors and permitted assigns, any rights or remedies under or by reason of this Agreement.

15.19    Waiver of Trial by Jury.  IN ANY LAWSUIT OR OTHER PROCEEDING INITIATED BY PURCHASER OR ANY SELLER UNDER OR WITH RESPECT TO THIS AGREEMENT, PURCHASER AND EACH SELLER WAIVES ANY RIGHT IT MAY HAVE TO TRIAL BY JURY.  IN ADDITION, PURCHASER AND EACH SELLER WAIVE ANY RIGHT TO SEEK RESCISSION OF THE TRANSACTION PROVIDED FOR IN THIS AGREEMENT.

15.20    State Specific Provisions.  The following provisions shall apply to Assets located in the following states, and in the event of any inconsistency between the provisions of this Section 15.20 and the remainder of this Agreement, the provisions of this Section 15.20 shall control.

15.20.1    Florida.  RADON GAS: Radon is a naturally occurring radioactive gas that, when it has accumulated in a building in sufficient quantities, may present health risks to persons who are exposed to it over time. Levels of Radon that exceed federal and state guidelines have been found in buildings in Florida. Additional information regarding Radon and Radon testing may be obtained from your County Health Department.

15.20.2    Texas.  Purchaser (“Indemnitor”) shall indemnify and save harmless Sellers (whether one or more, “Indemnitee”) from all suits, litigation, arbitrations, actions, investigations, inquiries, administrative or other proceedings, injuries, loses, damages, claims, or liability of any character, type, or description, which are caused by or arise out of, in whole or part, any actual or alleged breach of the type set out in Section 12.3.2(c), including all expenses of litigation, court costs, and attorney’s fees, and further including injury, loss, damage, claim, or 

44

liability which arise in whole or in part from any degree of negligent, intentional, or other conduct or fault of Indemnitee, whether that negligence or other conduct or fault is active or passive, or whether it is the sole, joint, concurrent or contributory cause.

15.21    Bulk Transfer Laws.  Except as expressly set forth in Section 4.5 hereof, Purchaser and Sellers acknowledge that Sellers and/or Purchaser may not comply with the provisions of any bulk transfer notification or other similar laws relating to the creation of successor or derivative liability upon the failure to give notice or seek clearance prior to the consummation of a transaction outside of the ordinary course of business (each a “Bulk Transfer Law”), of one or more jurisdictions in connection with the transactions contemplated by this Agreement, (ii) Purchaser and Sellers waive any requirement of compliance with Bulk Transfer Laws and (iii) Purchaser and Sellers agree that any non-compliance with any Bulk Transfer Law does not constitute a breach of any representation, warranty or covenant of Purchaser or Sellers contained in this Agreement.

15.22    1031 Exchange.  Sellers acknowledge that Purchaser may desire to effectuate a tax-deferred exchange (also known as a “1031” exchange) in connection with the Closing.  Therefore, Sellers, at no additional cost or liability, shall cooperate, to the extent commercially reasonable, with Purchaser in connection with a potential 1031 exchange, including executing such documents as may reasonably be required for Purchaser to qualify this transaction for treatment under Section 1031 of the Internal Revenue Code.  The Closing is not conditioned on the closing (in escrow or otherwise) of the sale of relinquished property by Purchaser.  Nothing contained in this Section or the exchange agreements shall in any way (a) limit any party’s covenants and obligations under this Agreement, including, but not limited to, any of same which survive Closing or the termination of this Agreement pursuant to its terms, or (b) result in a delay in Closing.

[SIGNATURE PAGE TO FOLLOW]

45

IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the date first written above.
PURCHASER:

PKY SUSP, LLC,
a Delaware limited liability company

By:      /s/ David R. O’Reilly            
Name: David R. O'Reilly
Title: Executive Vice President and Chief Financial
Officer

By:      /s/ Jeremy R. Dorsett                
Name: Jeremy R. Dorsett
Title: Executive Vice President and General
Counsel

Signature Page - Purchase and Sale Agreement

CORPORATE CENTER ONE OWNER LLC 
a Delaware limited liability company

By: Corporate Center One Owner Corp.,
a Delaware corporation, its sole member

By:/s/ Teresa Tsai            
Name:  Teresa Tsai
Title: President

CORPORATE CENTER TWO OWNER LLC 
a Delaware limited liability company

By: Corporate Center Two Owner Corp.,
a Delaware corporation, its sole member

By: /s/ Teresa Tsai            
Name:  Teresa Tsai
Title: President

CORPORATE CENTER THREE OWNER LLC 
a Delaware limited liability company

By: Corporate Center Three Owner Corp.,
a Delaware corporation, its sole member

By: /s/ Teresa Tsai            
Name:  Teresa Tsai
Title: President

DEERFIELD ONE OWNER CORP.
a Delaware corporation

By: /s/ Teresa Tsai            
Name:  Teresa Tsai
Title:     President

SIGNATURE PAGES

DEERFIELD TWO OWNER CORP.
a Delaware corporation

By: /s/ Teresa Tsai            
Name:  Teresa Tsai
Title:  President

GREENS CROSSING II OWNER LP
a Delaware limited partnership

By: Greens Crossing II Owner LLC
a Delaware limited liability company, its general partner

By: Greens Crossing II Owner Corp.,
a Delaware corporation, its sole member

By: /s/ Teresa Tsai            
Name:    Teresa Tsai
Title:  President

H. RIVER ONE OWNER LLC
a Delaware limited liability company

By: H. River One Owner Corp.
a Delaware corporation, its sole member

By: /s/ Teresa Tsai            
Name:  Teresa Tsai
Title:  President

H. RIVER TWO OWNER LLC
a Delaware limited liability company

By: H. River Two Owner Corp.
a Delaware corporation, its sole member

By: /s/ Teresa Tsai            
Name:    Teresa Tsai
Title:  President

SIGNATURE PAGES

H. RIVER THREE OWNER LLC
a Delaware limited liability company

By: H. River Three Owner Corp.
a Delaware corporation, its sole member

By: /s/ Teresa Tsai            
Name:    Teresa Tsai
Title:  President

LAKESIDE I OWNER CORP.
a Delaware corporation

By: /s/ Teresa Tsai            
Name:  Teresa Tsai
Title:  President

LAKESIDE II OWNER CORP.
a Delaware corporation

By: /s/ Teresa Tsai            
Name:  Teresa Tsai
Title:  President

PARAGON OWNER CORP.
a Delaware corporation

By: /s/ Teresa Tsai            
Name:  Teresa Tsai
Title:  President

RESOURCE SQUARE ONE OWNER LLC
a Delaware limited liability company

By: Resource Square One Owner Corp.,
a Delaware corporation, its sole member

By: /s/ Teresa Tsai            
Name:    Teresa Tsai
Title:  President

SIGNATURE PAGES

RESOURCE SQUARE TWO OWNER LLC
a Delaware limited liability company

By: Resource Square Two Owner Corp.,
a Delaware corporation, its sole member

By: /s/ Teresa Tsai            
Name:    Teresa Tsai
Title:  President

RESOURCE SQUARE THREE OWNER LLC
a Delaware limited liability company

By: Resource Square Three Owner Corp.,
a Delaware corporation, its sole member

By: /s/ Teresa Tsai            
Name:    Teresa Tsai
Title:  President

SATELLITE 300 OWNER CORP.
a Delaware corporation

By: /s/ Teresa Tsai            
Name:  Teresa Tsai
Title:  President

SATELLITE 400 OWNER CORP.
a Delaware corporation

By: /s/ Teresa Tsai            
Name:  Teresa Tsai
Title:  President

SATELLITE 600 OWNER CORP.
a Delaware corporation

By: /s/ Teresa Tsai            
Name:  Teresa Tsai
Title:  President

SIGNATURE PAGES

SATELLITE 800 OWNER CORP.
a Delaware corporation

By: /s/ Teresa Tsai            
Name:  Teresa Tsai
Title:  President

STONY POINT II OWNER CORP.
a Delaware corporation

By: /s/ Teresa Tsai            
Name:  Teresa Tsai
Title:  President

TIMBERWAY ONE OWNER LP
a Delaware limited partnership

By: Timberway One Owner LLC
a Delaware limited liability company, its general partner

By: Timberway One Owner Corp.,
a Delaware corporation, its sole member

By: /s/ Teresa Tsai            
Name:    Teresa Tsai
Title:  President

SIGNATURE PAGES

The Escrow Agent hereby executes this Agreement for the sole purpose of acknowledging its responsibilities hereunder and to evidence its consent to serve as Escrow Agent in accordance with the terms of this Agreement.

ESCROW AGENT:

Chicago Title Insurance Company

By:  /s/ Yosi (Joe) Benlevi                
Name:  Yosi (Joe) Benlevi
Title:  V.P. & Senior Underwriting Counsel
Phone:  (212) 880-1304

Signature Page - Purchase and Sale Agreement

Exhibit A-1 to A-21

Legal Descriptions

Attached.  

		
	1.
	2801 SLATER ROAD, MORRISVILLE, NC

CONCOURSE LAKESIDE I

LEGAL DESCRIPTION

Lying and being situated in Wake County, North Carolina, and being more particularly described as follows: 

ALL that tract or parcel of land lying and being in Cedar Forks Township, Wake County, North Carolina, being a portion of the property recorded in Book of Maps 1997, Page 1120, Wake County Registry, North Carolina, and being more particularly described as follows:

BEGINNING at an iron pipe set located on the northwestern right-of-way line of Sorrells Grove Church Road (aka State Route No. 1640 and having a 60-foot right-of-way width), said point being the southernmost corner of property as recorded in Book of Maps 1997, Page 1120, aforesaid Registry; thence leaving the northwestern right-of-way line of Sorrells Grove Church Road, run along the northern, northeastern, eastern and southeastern boundary lines of property now or formerly known as Sorrells Grove Reservoir Crabtree Creek Watershed Project the following ten (10) courses and distances: (1) South 85 degrees 00 minutes 34 seconds West a distance of 147.35 feet to an iron pipe set; (2) North 27 degrees 46 minutes 59 seconds West a distance of 25.70 feet to an iron pipe set; (3) North 02 degrees 20 minutes 21 seconds East a distance of 92.58 feet to an iron pipe set; (4) North 27 degrees 07 minutes 26 seconds East a distance of 175.98 feet to an iron pipe set; (5) North 59 degrees 37 minutes 53 seconds West a distance of 221.16 feet to an iron pipe set; (6) North 14 degrees 03 minutes 15 seconds West a distance of 84.98 feet to an iron pipe set; (7) North 30 degrees 17 minutes 03 seconds East a distance of 104.24 feet to a point; (8) North 29 degrees 10 minutes 27 seconds East a distance of 123.85 feet to an iron pipe set; (9) North 49 degrees 53 minutes 28 seconds West a distance of 70.95 feet to an iron pipe set; and (10) North 29 degrees 12 minutes 55 seconds West a distance of 32.52 feet to an iron pipe set located on the southeastern boundary line of property now or formerly owned by Copley Capital I Partners; thence leaving the northeastern boundary line of the aforesaid Sorrells Grove Reservoir, run along the southeastern boundary line of the aforesaid Copley Capital I property, North 61 degrees 06 minutes 02 seconds East a distance of 324.57 feet to an iron pipe set located on the southwestern right-of-way line of Slater Road (aka State Route No. 1641 and having a variable right-of-way width); thence leaving the southeastern boundary line of the aforesaid Copley Capital I property, run along the southwestern right-of-way line of Slater Road the following four (4) courses and distances and following the curvature thereof: (1) South 28 degrees 58 minutes 37 seconds East a distance of 204.49 feet to an iron pipe set; (2) along the arc of a 2.526.42-foot radius curve to the left having an arc distance of 118.16 feet to an iron pipe set (said arc being subtended by a chord lying to the northeast thereof bearing South 30 degrees 18 minutes 59 seconds East and being 118.15 feet in length); (3) South 31 degrees 39 minutes 22 seconds East a distance of 148.55 feet to an iron pipe set; and (4) along the arc of a 25.00-foot radius curve to the right having an arc distance of 28.62 feet to an iron pipe set located on the northwestern right-of-way line of Sorrells Grove Church Road (said arc being subtended by a chord lying to the west thereof bearing South 01 degrees 05 minutes 32 seconds West and being 27.08 feet in length); thence leaving the southwestern right-of-way line of Slater Road, run along the northwestern right-of-way line of Sorrells Grove Church Road the following two (2) courses and distances and following the curvature thereof: (1) South 33 degrees 51 minutes 13 seconds West a distance of 211.87 feet to an iron pipe set; and (2) along the arc of a 2.529.97-foot radius curve to the left having an arc distance of 315.23 feet to an iron pipe set located on the northeastern boundary line of the aforesaid Sorrells Grove Reservoir (said arc being subtended by a chord lying to the southeast thereof bearing South 30 degrees 17 minutes 03 seconds West and being 315.03 feet in length), said iron pipe being the POINT OF BEGINNING.

		
	1.
	2801 SLATER ROAD, MORRISVILLE, NC

CONCOURSE LAKESIDE I

THE above-described property contains 6.519 acres more or less and is shown on and described according to that certain Subdivision Plat prepared by Copley/Capital I Partners, Concourse Lakeside I, LLC, dated April 20, 1997 and recorded in Wake County Book of Maps 1997, Page 1360.

TOGETHER WITH all right, title and interest in and to that certain Easement Agreement by and between Concourse Lakeside I, LLC and Copley/ Capital I Partners, dated September 1997, recorded herewith.

		
	2.
	2803 SLATER ROAD, MORRISVILLE, NC

CONCOURSE LAKESIDE II

LEGAL DESCRIPTION

Lying and being situated in Wake County, North Carolina, and being more particularly described as follows: 

ALL that tract or parcel of land lying and being in Cedar Forks Township,  Wake County, North Carolina, as recorded in Book of Maps 1997, Page 1360, Wake County, North Carolina Public Registry, and being more particularly described as follows:

TO FIND the true POINT OF BEGINNING at a point located at the intersection of the northwestern right-of-way line of Sorrells Grove Church Road (aka State Route No. 1640 and having a 60-foot right-of-way width) with the southwestern right-of-way line of Slater Road (aka State Route No. 1641 and having a variable right-of-way width), said point also being the southeastern corner of property now or formerly owned by Concourse Lakeside I, LLC); thence leaving the northwestern right-of-way line of Sorrells Grove Church Road, run along the southwestern right-of-way line of Slater Road and the northeastern boundary line of the aforesaid Concourse Lakeside I property the following four (4) courses and distances and following the curvature thereof: (1) along the arc of a 25.00 foot radius curve to the left have an arc distance of 28.58 feet to a point (said arc being subtended by a chord lying to the northwest thereof bearing North 00 degrees 58 minutes 22 seconds East and being 27.05 feet in length); (2) North 31 degrees 39 minutes 22 seconds West a distance of 148.55 feet to a point; (3) along the arc of a 2,526.42 foot radius curve to the right having an arc distance of 118.16 feet to a point (said arc being subtended by a chord lying to the northeast thereof bearing North 30 degrees 18 minutes 59 seconds West and being 118.15 feet in length); and (4) North 28 degrees 58 minutes 37 seconds West a distance of 204.49 feet to a point located at the northeastern corner of the aforesaid Concourse Lakeside I property, said point also being the TRUE POINT OF BEGINNING; from the TRUE POINT OF BEGINNING, as thus established, thence leaving the southwestern right-of-way line of Slater Road, run along the northwestern boundary line of the aforesaid Concourse Lakeside I property South 61 degrees 06 minutes 02 seconds West a distance of 324.57 feet to a point located on the northeastern boundary line of property now or formerly owned by the County of Wake (aka Site #1 of Sorrells Grove Reservoir Crabtree Creek Watershed Project); thence leaving the northwestern boundary line of the aforesaid Concourse Lakeside I property, run along the generally northeastern boundary line of the aforesaid County of Wake property the following seven (7) courses and distances: (1) North 29 degrees 12 minutes 55 seconds West a distance of 70.84 feet to a point; (2) South 74 degrees 03 minutes 16 seconds West a distance of 94.67 feet to a point; (3) North 22 degrees 14 minutes 31 seconds West a distance of 144.16 feet to a point; (4) South 85 degrees 16 minutes 16 seconds West a distance of 163.18 feet to a point; (5) North 15 degrees 59 minutes 18 seconds West a distance of 261.87 feet to a point; (6) North 15 degrees 49 minutes 26 seconds West a distance of 92.59 feet to a point; and (7) North 09 degrees 28 minutes 41 seconds West a distance of 110.37 feet to a point located on the southeastern boundary line of property now or formerly owned by Ransdale; thence leaving the northwestern boundary line of the aforesaid County of Wake property, run along the southeastern boundary line of the aforesaid Ransdale property North 72 degrees 00 minutes 33 seconds East a distance of 240.79 feet to a point located on the southwestern boundary line of property now or formerly owned by J.J. Watkins; thence leaving the southeastern boundary line of the aforesaid Ransdale property, run along the southwestern and southeastern boundary lines of the aforesaid J.J. Watkins property the following two (2) courses and distances: (1) South 28 degrees 24 minutes 19 seconds East a distance of 209.98 feet to a point; and (2) North 72 degrees 01 minutes 10 seconds East a distance of 204.29 feet to a point located on the southwestern right-of-way line of Slater Road; thence leaving the southeastern boundary line of the aforesaid J.J. Watkins property, run along the southwestern right-of-way line of Slater Road the following four (4) courses and distances: (1) South 29 degrees 11 minutes 07 seconds East a distance of 65.70 feet to a point; (2) South 

		
	2.
	2803 SLATER ROAD, MORRISVILLE, NC

CONCOURSE LAKESIDE II

28 degrees 58 minutes 37 seconds East a distance of 351.34 feet to a point;  (3) South 61 degrees 01 minutes 23 seconds West a distance of 5.00 feet to a point; and (4) South 28 degrees 58 minutes 37 seconds East a distance of 58.37 feet to a point located at the northeastern corner of property now or formerly owned by Concourse Lakeside I, said point being the POINT OF BEGINNING.

THE above-described property contains 6.732 acres more or less and is shown on and designated as “Phase II” according to that certain Boundary Survey prepared by Withers & Ravenel Engineering & Surveying, Inc. (Jimmy E. Bass, NCRLS No. L-2710), dated February 23, 1999, which survey is incorporated herein by this reference and made a part of this description.

TOGETHER WITH the Easement Agreement recorded in Book 7684, Page 516, Wake County Registry.

		
	3.
	2202 N. WESTSHORE BLVD., TAMPA, FL

CORPORATE CENTER I

4917094 -NBU 14003129
LEGAL DESCRIPTION
Leasehold estate created under that certain Lease Agreement by and between Hillsborough County Aviation Authority, and Crescent Resources, Inc., recorded September 10, 1998, in Official Records Book 9230, Page 1246, as assigned to Crescent Brookdale Associates, LLC, by Ground Lease Assignment recorded October 1, 2001, in Official Records Book 11106, Page 254, and as amended In Official Records Book 12347, Page 1856 and assigned to Corporate Center One Owner LLC, by Assignment, recorded May 20, 2005 in Official Records Book 15530, Page 1151, Public Records of Hillsborough County, Florida, demising the following described lands; 

Commence at the Southwest corner of the Northeast 1/4 of Section 17, Township 29 South, Range 18 East, Hillsborough County, Florida; thence along the centerline of said Section 17, North 00° 29' 49" East for 170.00 feet to the Point of Beginning on the Northerly right-of-way line of Spruce Street; thence along said right-of-way line North 88° 53' 07" West, for 212.03 feet; thence leaving said right-of-way line North 01° 58' 40" East, for 1,078.56 feet; thence North 40° 00' 00" East, for 113.12 feet; thence South 88° 45' 51" East, for 720.69 feet to the Westerly right-of-way line of Westshore Boulevard (State Road 587); thence along said right-of-way line the following 3 courses; thence South 00° 32' 03" West, 10.15 feet; thence South 88° 46' 41" East, for 26.92 feet; thence South 00° 28' 20" West, 75.03 feet to a point of intersection with the North boundary line extended of the Tampa Bay Buccaneer Training Facility as shown on a survey prepared by West Central Florida Surveyors, Incorporated, dated December 29, 1975; thence along said boundary extension North 88° 56' 29" West, for 5.86 feet to a found 4" x 4" concrete monument, being the Northeast corner of said Tampa Bay Buccaneer Training Facility; thence along the boundary of said Tampa Bay Buccaneer Training Facility, for the following 3 courses; North 88° 56' 29" West, for 579.76 feet, to a found 4" x 4" concrete monument, being the Northwest corner of said Tampa Bay Buccaneer Training Facility; thence South 00° 21' 16" West, for 419.89 feet, to a found 4" x 4" concrete monument being the Southwest corner of said Tampa Bay Buccaneer Training Facility; thence South 88 ° 55' 51" East, for 579.88 feet to a found 4" x 4" concrete monument, being the Southeast corner of said Tampa Bay Buccaneer Training Facility; continue thence South 88° 55' 51" East, for 4.89 feet to the point of intersection with said Westerly right-of-way line of Westshore Blvd; thence along said right-of-way line the following 5 courses; thence South 00° 28' 20" West, for 245.69 feet; thence South 01° 46' 20" West, for 253.70 feet to the point of curvature of a curve concave to the Southeast; thence Southerly along the arc of said curve having a central angle of 00° 16' 44", a radius of 22,958.32 feet, an arc length of 111.76 feet and a chord, bearing South 01° 37' 58" West, for 111.76 feet; thence North 88° 45' 49" West, for 31.66 feet; thence South 01° 14' 31" West, for 50.00 feet to said Northerly right-of-way line of Spruce Street; thence along said right-of-way line North 88° 45' 49" West, for 595.56 feet to the Point of Beginning. 

LESS AND EXCEPT THE FOLLOWING DESCRIBED PROPERTY: 

Commence at the Southwest corner of the Northeast 1/4 of Section 17, Township 29 South, Range 18 East, Hillsborough County, Florida; thence along the centerline of said Section 17, North 00° 29' 49" East, for 170.00 feet to the Northerly right-of-way line of Spruce Street; thence along said right-of-way line North 88° 53' 07" West, for 212.03 feet; thence leaving said right-of-way line North 01° 58' 40" East, for 1078.56 feet; thence North 40° 00' 00" East, for 113.12 feet; thence South 88° 45' 51" East, for 161.78 feet to the Point of Beginning; thence South 88° 45' 51" East, for 558.91 feet; thence South 00° 32' 03" West, for 10.15 feet; thence South 88° 46' 41" East, for 26.92 feet; thence South 00° 28' 20" West for 75.03 feet; thence North 88° 56' 29" West, for 585.62 feet; thence North 00° 21' 16" East, for 86.99 feet to the Point of Beginning. 

WHICH PROPERTY IS ALSO DESCRIBED AS: 

		
	3.
	2202 N. WESTSHORE BLVD., TAMPA, FL

CORPORATE CENTER I

Being a parcel of land in Section 17, Township 29 South, Range 18 East, Hillsborough County, Florida, more particularly described as follows: 

Commencing at the Southwest corner of the Northeast 1/4 of said Section 17; thence North 00° 29' 49" East, a distance of 170.00 feet to a point, said point being on the Northerly right-of-way line of Spruce Street and the Point of Beginning; thence with said right-of-way line, North 88° 53' 07" West, a distance of 212.03 feet; thence departing said line, North 01° 58' 40" East, a distance of 1078.56 feet; thence North 40° 00' 00" East, a distance of 113.12 feet; thence South 88° 45' 51" East, a distance of 161.78 feet; thence South 00° 21' 16" West, a distance of 86.99 feet; thence South 00° 21' 16" West, a distance of 419.89 feet; thence South 88° 55' 51" East, a distance of 579.88 feet to a point on the Westerly right-of-way line of Westshore Boulevard, a private street; thence with same South 88° 55' 51" East, a distance of 4.89 feet; thence South 00° 28' 20" West, a distance of 245.69 feet; thence South 01° 46' 20" West, a distance of 253.70 feet to the beginning of a curve; thence 111.76 feet Southerly along the arc of said curve, concave Easterly, having a radius of 22958.32 feet and subtended by a chord bearing South 01° 37' 58" West, a distance of 111.76 feet to a point, said point being the end of said curve and on the Northerly right-of-way line of Spruce Street aforementioned; thence with same North 88° 45' 49" West, a distance of 31.66 feet; thence South 01 ° 14' 31" West, a distance of 50.00 feet; thence North 88° 45' 49" West, a distance of 595.56 feet to the Point of Beginning. 

TOGETHER WITH: 

ACCESS AND UTILITY EASEMENT AREA "A": 

Being an Easement over a portion of Section 17, Township 29 South. Range 18 East, Hillsborough County, Florida, more particularly described as follows: 

Commencing at the Southwest corner of the Northeast 1/4 of said Section 17; thence North 00° 29' 49" East, a distance of 170.00 feet to a point. Said point being on the Northerly right-of-way line of Spruce Street; thence with said right-of-way line, South 88° 45' 49" East, a distance of 595.56 feet; thence North 01° 14' 31" East, a distance of 50.00 feet; thence South 88° 45' 49" East, a distance of 31.66 feet to the Point of Beginning; thence departing said right-of-way line 111.76 feet Northerly along the arc of a curve, concave Easterly, having a radius of 22,958.32 feet and subtended by a chord bearing North 01° 37' 58" East, a distance of 111.76 feet to the curve's end; thence North 01° 46' 20" East, a distance of 253.70 feet; thence North 00° 28' 20" East, a distance of 245.69 feet; thence running Easterly and across a strip of land formerly known as West Shore Boulevard, described in Official Records Book 5577, Page 486, of the Public Records of Hillsborough County, Florida, South 88° 55' 51" East, a distance of 85.32 feet, more or less, to a point on the Westerly boundary of lands described in Exhibit "D", Official Records Book 7555, Page 6, of the aforesaid Public Records; thence with the Westerly boundary line of same, Southerly 109.54 feet along the arc of a curve, concave Westerly said curve having a radius of 22,958.32 feet and subtended by a chord bearing South 01° 38' 08" West, a chord distance of 109.54 feet to the curves end, thence continue with said line South 01° 46' 20" West, a distance of 390.82 feet to the beginning of a curve; thence 111.03 feet Southerly along the arc of said curve, concave Easterly, having a radius of 22,878.32 feet and subtended by a chord bearing South 01° 38' 00" West, a distance of 111.03 feet to a point on the Northerly right-of-way line of Spruce Street aforementioned: thence with said Northerly right-of-way line North 88° 45' 49" West, a distance of 80.00 feet, more or less, to the Point of Beginning. 

TOGETHER WITH: 

		
	3.
	2202 N. WESTSHORE BLVD., TAMPA, FL

CORPORATE CENTER I

ACCESS EASEMENT AREA "B": 

Being an Easement over a portion of Section 17, Township 29 South, Range 18 East, Hillsborough County, Florida, more particularly described as follows: 

Commencing at the Southwest corner of the Northeast 1/4 of said Section 17; thence North 00° 29' 49" East, a distance of 170.00 feet to a point, said point being on the Northerly right-of-way line of Spruce Street; thence with said right-of-way line, North 88° 53' 07" West, a distance of 212.03 feet; thence departing said line North 01° 58' 40" East, a distance of 236.86 feet to the Point of Beginning; thence North 81° 54' 47" West, a distance of 197.99 feet to the West edge of existing pavement of a roadway which provides access to and from nearby Spruce Street aforementioned; thence North 33° 11' 10" East, a distance of 80.48 feet; thence South 81 ° 54' 47" East, a distance of 156.05 feet; thence South 01 ° 58' 40" East, a distance of 73.30 feet to the Point of Beginning. 

TOGETHER WITH: 

DEVELOPMENT AGREEMENT EASEMENTS: 

Non-exclusive easements in, on, over and across those portions of the Infrastructure Roadways located on the Master Ground Lease Premises for the purposes of vehicular and pedestrian access, passage and circulation and for ingress to and egress from the Master Ground Lease Premises (and all portions thereof) and the streets and highways adjacent to the Master Ground Lease Premises and non-exclusive easements to use any and all Infrastructure Utility Facilities that may be constructed or installed within the Master Ground Lease Premises, in particular the right and easement to connect to, tap into and use any and all Infrastructure Utility Facilities that may be constructed or installed in the Infrastructure Easement Areas abutting or adjacent to the portion of the Master Ground Lease Premises in which Crescent has an interest, all as created in that Development, Use and Reciprocal Easement dated February 17, 1994, recorded in Official Records Book 7555, Page 6, as amended and restated by that Amended and Restated Development, Use and Reciprocal Easement Agreement dated September 3, 1998, recorded in Official Records Book 9227, Page 556, and that certain First Amendment to Amended and Restated Development, Use and Reciprocal Easement Agreement, recorded September 14, 2000, in Official Records Book 10372, Page 1, and that Second Amendment to Amended and Restated Development, Use and Reciprocal Easement Agreement, recorded in Official Records Book 10372, Page 7, as affected by Release of Liens, recorded in Official Records Book 10372, Page 26, as accepted by the Hillsborough County Aviation Authority in Paragraph 34 of that Second Restated and Amended Lease between Hillsborough County Aviation Authority, and Concorde Companies, dated May 5, 1994, recorded in Official Records Book 7453, Page 79, of the Public Records of Hillsborough County, Florida, as amended by that First Amendment recorded in Official Records Book 8127, Page 582, and Second Amendment recorded in Official Records Book 8999, Page 212, and Third Amendment recorded in Official Records Book 9230, Page 1238, all of the Public Records of Hillsborough County, Florida, and in Paragraph 34 of that Lease Agreement between Hillsborough County Aviation Authority, and Crescent Resources, Inc., recorded September 10, 1998, in Official Records Book 9230, Page 1246, of the Public Records of Hillsborough County, Florida.

		
	4.
	4221 W. BOYSCOUT RD, TAMPA, FL

CORPORATE CENTER II

4917132 - NBU 14003130
LEGAL DESCRIPTION
PARCEL 1: 

Leasehold estate created under that certain Lease by and between Hillsborough County Aviation Authority, as Lessor, and Crescent Resources, Inc., as Lessee, recorded in Official Records Book 10372, Page 30, and in Official Records Book 11038, Page 236, as assigned to Crescent Brookdale Associates, LLC in Official Records Book 12170, Page 1810, and as amended in Official Records Book 12797, Page 644, and as assigned to Corporate Center Two Owner LLC, a Delaware limited liability Company, by Assignment, recorded September 20, 2005 in Official Records Book 15530, Page 1511, of the Public Records of Hillsborough County, Florida, demising the following described lands: 

A portion of the Northwest 1/4 of Section 16, Township 29 South, Range 18 East, Hillsborough County, Florida, more particularly described as follows: 

Commence at the Northwest corner of said Section 16; thence along the Westerly boundary of said Section 16, South 00° 20' 48" West, 50.00 feet to a point of intersection with the former South right-of-way line, of vacated Columbus Drive; thence along said former South right-of-way line, South 89° 28' 10" East, 640.98 feet to the Point of Beginning; thence continue along said former right-of-way, South 89° 28' 10" East, 125.00 feet; thence South 00° 01' 16" West, 352.36 feet; thence South 89° 58' 44" East, 33.74 feet; thence South 00° 01' 16" West, 25.83 feet; thence South 89° 58' 44" East, 107.18 feet; thence South 29° 52' 56" East, 128.01 feet; thence North 60° 07' 04" East, 66.82 feet; thence South 29° 52' 56" East, 68.17 feet; thence South 48° 51' 33" East, 60.40 feet to a point of intersection with the Northerly right-of-way line of Boy Scout Boulevard (State Road No. 589); thence 56.64 feet along said Northerly right-of-way by the arc of a curve, concave Southeasterly, having a radius of 2009.86 feet, a central angle of 01° 36' 53" and a chord bearing and distance of South 40° 19' 52" West, 56.64 feet to a point of tangency; thence continue along said right-of-way line South 39° 31' 26" West, 496.72 feet; thence North 50° 28' 34" West, 148.27 feet; thence North 00° 00' 46" East, 417.85 feet; thence North 89° 59' 14" West, 25.00 feet; thence North 00° 00' 46" East, 420.42 feet; thence South 89° 59' 14" East, 25.00 feet; thence North 00° 00' 46" East, 49.65 feet to the Point of Beginning. 

PARCEL 2: 
DEVELOPMENT AGREEMENT EASEMENTS: 

Non-exclusive easements in, on, over and across those portions of the Infrastructure Roadways located on the Master Ground Lease Premises for the purposes of vehicular and pedestrian access, passage and circulation and for Ingress to and Egress from the Master Ground Lease Premises (and all portions thereof) and the streets and highways adjacent to the Master Ground Lease Premises and non-exclusive easements to use any and all Infrastructure Utility Facilities that may be constructed or installed within the Master Ground Lease Premises, in particular the right and easement to connect to, tap into and use any and all Infrastructure Utility Facilities that may be constructed or installed in the Infrastructure Easement Area abutting or adjacent to the portion of the Master Ground Lease Premises in which Crescent has an interest, all as created in that Development, Use and Reciprocal Easement Agreement dated February 17, 1994, recorded in Official Records Book 7555, Page 6; as amended and restated by that Amended and Restated Development, Use and Reciprocal Easement Agreement, dated September 3, 1998, in Official Records Book 9227, Page 556, and that certain First Amendment to Amended and Restated Development, Use and Reciprocal Easement Agreement, recorded September 14, 2000, in Official Records Book 10372, Page 1; and that Second Amendment to Amended and Restated Development, Use and Reciprocal Easement Agreement, recorded in Official Records Book 10372, Page 7; as affected by Partial Release of Liens, 

		
	4.
	4221 W. BOYSCOUT RD, TAMPA, FL

CORPORATE CENTER II

recorded September 14, 2000 in Official Records Book 10372, Page 26, and as accepted by Crescent Resources, Inc., in Paragraph 34 of that certain Lease between Hillsborough County Aviation Authority and Crescent Resources, Inc., recorded in Official Records Book 10372, Page 30 and Official Records Book 11038, Page 236, and as affected by Partial Release, recorded in Official Records Book 16455, Page 336, as affected by Partial Release of Easement Rights, recorded April 20, 2007 in Official Records Book 17689, Page 1895, and as amended by Third Amendment to Amended and Restated Development, Use and Reciprocal Easement Agreement, recorded January 17, 2008 in Official Records Book 18386, Page 26, Public Records of Hillsborough County, Florida. 

PARCEL 3: 
ACCESS DRIVE EASEMENT: 

Non-exclusive easement over the Access Drive Easement Area, described on Exhibit "D" of that certain Access Drive Easement Agreement (Concorde Property), recorded in Official Records Book 10372, Page 282, of the Public Records of Hillsborough County, Florida, for the purpose of vehicular and pedestrian ingress, egress and access over and across the land described as follows: 

A portion of the Northwest 1/4 of Section 16, Township 29 South, Range 18 East, Hillsborough County, Florida, being more particularly described as follows: 

Commence at the Northwest corner of said Section 16; thence along the Westerly boundary of said Section 16, South 00° 20' 48" West, 50.00 feet to a point of intersection with the former South right-of-way line of vacated Columbus Drive; thence along the former South right-of-way line of vacated Columbus Drive, South 89° 26' l0" East, 640.98 feet; thence departing said former right-of -way, South 00° 00' 46" West, 470.07 feet to the Point of Beginning; thence continue South 00° 00' 46" West, 45.00 feet; thence North 89° 59' l4" West, 396.11 feet to a point of Intersection with the Westerly boundary of those lands described in Official Records Book 9230, Page 1170, of the Public Records of Hillsborough County, Florida; thence North 00° 21' 44" East, along said Westerly boundary, 45.00 feet; thence departing said Westerly boundary, South 89° 59' l4" East, 395.84 feet to the Point of Beginning. 

PARCEL 4: 

Non-exclusive perpetual easements in, on, over and across the Property, as defined in the Declaration referenced below, including but not limited to Access Easement, Parking Easement, Stormwater Easement, Construction Easement, Encroachment Easement, Potable Water Easement, Sewer Easement, Common Areas and Facilities Easement and Utilities Easement, all as created in that certain Declaration of Covenants, Restrictions and Easements for Corporate Center Two and Corporate Center Three dated December 11, 2002 ("Declaration"), and recorded on December 11, 2002, in Official Records Book 12170, Page 1775, of the Public Records of Hillsborough County, Florida.

		
	5.
	 4221 W. BOYSCOUT RD, TAMPA, FL

CORPORATE CENTER III

4917149 - NBU 14003131
LEGAL DESCRIPTION

PARCEL 1: 

Leasehold estate created under that certain Lease by and between, Hillsborough County Aviation Authority, as "Lessor", and Crescent Resources, Inc., as "Lessee", recorded in Official Records Book 10372, Page 99 and Official Records Book 11038, Page 305, as amended in Official Records Book 11426, Page 1665 and Official Records Book 12797, Page 650, and as assigned in Official Records Book 14377, Page 764, and as Assigned in Official Records Book 15530, Page 1794 to Corporate Center Three Owner LLC, a Delaware limited liability company, of the Public Records of Hillsborough County, Florida demising the following described lands: 

A portion of the Northwest 1/4 of Section 16, Township 29 South, Range 18 East, Hillsborough County, Florida, being more particularly described as follows: 

Commence at the Northwest corner of said Section 16; thence along the Westerly boundary of said Section 16, South 00° 20' 48" West, 50.00 feet to a point of intersection with the former South right-of-way line of vacated Columbus Drive; thence along said former South right-of-way line, South 89° 28' 10" East, 765.98 feet to the Point of Beginning; thence continue along said former right-of-way, South 89° 28' 10" East, 816.39 feet; thence South 00° 31' 50" West, 14.00 feet; thence South 81°  38' 12" East, 102.71 feet; thence South 68° 27' 00" East, 75.29 feet to a point of intersection with the Northerly right-of-way line of Boy Scout Boulevard (State Road No. 589); thence 816.74 feet along said Northerly right-of-way by the arc of a curve, concave Southeasterly, having a radius of 2009.86 feet, a central angle of 23° 16' 59" and a chord bearing and distance of South 52° 46' 48" West, 811.13 feet; thence North 48° 51' 33" West, 60.40 feet; thence North 29° 52' 56" West, 68.17 feet; thence South 60° 07' 04" West, 66.82 feet; thence North 29° 52' 56" West, 128.01 feet; thence North 89° 58' 44" West, 107.18 feet; thence North 00° 01' 16" East, 25.83 feet; thence North 89° 58' 44" West, 33.74 feet; thence North 00° 01' 16" East, 352.36 feet to the Point of Beginning. 

PARCEL 2: 

DEVELOPMENT AGREEMENT EASEMENTS: Non-exclusive easements in, on, over and across those portions of the Infrastructure Roadways located on the Master Ground Lease Premises for the purposes of vehicular and pedestrian access, passage and circulation and for Ingress to and Egress from the Master Ground Lease Premises (and all portions thereof) and the streets and highways adjacent to the Master Ground Lease Premises and non-exclusive easements to use any and all Infrastructure Utility Facilities that may be constructed or installed within the Master Ground Lease Premises, in particular the right and easement to connect to, tap into and use any and all Infrastructure Utility Facilities that may be constructed or installed in the Infrastructure Easement Area abutting or adjacent to the portion of the Master Ground Lease Premises in which Crescent has an interest, all as created in that Development, Use and Reciprocal Easement Agreement dated February 17, 1994, recorded in Official Records Book 7555, Page 6; as amended and restated by that Amended and Restated Development, Use and Reciprocal Easement Agreement dated September 3, 1998, in Official Records Book 9227, Page 556, and that certain First Amendment to Amended and Restated Development, Use and Reciprocal Easement Agreement recorded September 14, 2000, in Official Records Book 10372, Page 1: and that Second Amendment to Amended and Restated Development, Use and Reciprocal Easement Agreement recorded in Official Records Book 10372, Page 7, as affected by Release of Liens recorded in Official Records Book 10372, Page 26; and as accepted by Crescent Resources, Inc., in Paragraph 34 of that certain Lease between Hillsborough County Aviation Authority and Crescent 

		
	5.
	 4221 W. BOYSCOUT RD, TAMPA, FL

CORPORATE CENTER III

Resources, Inc., recorded in Official Records Book 10372, Page 99 and Official Records Book 11038, Page 305, as amended in Official Records Book 11426, Page 1665 and Official Records Book 12797, Page 650, and as assigned in Official Records Book 14377, Page 764 and in Official Records Book 15530, Page 1794, and as affected by Partial Release, recorded in Official Records Book 16455, Page 336, as affected by Partial Release of Easement Right, recorded April 20, 2007 in Official Records Book 17689, Page 1895, and as amended by Third Amendment to Amended and Restated Development, Use and Reciprocal Easement Agreement, recorded January 17, 2008 in Official Records Book 18386, Page 26, of the Public Records of Hillsborough County, Florida. 

PARCEL 3: 

ACCESS DRIVE EASEMENT: Non-exclusive easement over the Access Drive Easement Area, described on Exhibit "D" of that certain Parcel II Access Drive Easement Agreement (Crescent Parcel II) recorded in Official Records Book 10372, Page 216, of the Public Records of Hillsborough County, Florida, for the purpose of vehicular and pedestrian ingress, egress and access over and across the land described therein. 

PARCEL 4:

ACCESS DRIVE EASEMENT: Non-exclusive easement over the Access Drive Easement Area, described on Exhibit "D" of that certain Access Drive Easement Agreement (Concorde Property) recorded in Official Records Book 10372, Page 282, of the Public Records of Hillsborough County, Florida, for the purpose of vehicular and pedestrian ingress, egress and access over and across the land described therein. 

PARCEL 5: 

Non-exclusive perpetual easements in, on, over and across the Property, as defined in the Declaration referenced below, including but not limited to Access Easement, Parking Easement, Stormwater Easement, Construction Easement, Encroachment Easement, Potable Water Easement, Sewer Easement, Common Areas and Facilities Easement and Utilities Easement, all as created in that certain Declaration of Covenants, Restrictions and Easements for Corporate Center Two and Corporate Center Three dated December 11, 2002 ("Declaration"), and recorded on December 11, 2002, in Official Records Book 12170, Page 1775, of the Public Records of Hillsborough County, Florida.

		
	6.
	13010 MORRIS ROAD, ALPHARETTA, GA

DEERFIELD I

LEGAL DESCRIPTION

ALL THAT TRACT OR PARCEL OF LAND LYING AND BEING IN LAND LOTS 1045, 1046, 1115 AND 1116 OF THE 2ND DISTRICT, 2ND SECTION OF FULTON COUNTY, GEORGIA AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS;
TO FIND THE POINT OF BEGINNING commence at the northernmost point of the mitered intersection of Webb Road (right of way varies) and Deerfield Parkway (100 foot right of way); thence run South 52 degrees 05 minutes 08 seconds West a distance of 121.48 feet to a point on the eastern right of way of Deerfield Parkway; thence run along said eastern right of way of Deerfield Parkway the following courses and distances: South 06 degrees 42 minutes 26 seconds West a distance of 15.61 feet to a point; along a curve to the right an arc distance of 295.75 feet, said curve having a radius of 750.00 feet and being subtended by a chord bearing South 18 degrees 00 minutes 15 seconds East a chord distance of 293.84 feet to a point, which point is the TRUE POINT OF BEGINNING; from said TRUE POINT OF BEGINNING AS THUS ESTABLISHED, and leaving said right of way run thence South 32 degrees 01 minutes 31 seconds East a distance of 10.97 feet to a point; thence run South 57 degrees 44 minutes 43 seconds East a distance of 29.05 feet to a point; thence run South 70 degrees 29 minutes 46 seconds East a distance of 36.12 feet to a point; thence run South 80 degrees 53 minutes 27 seconds East a distance of 35.36 feet to a point; thence North 89 degrees 53 minutes 52 seconds East a distance of 23.04 feet to a point; thence run North 81 degrees 52 minutes 39 seconds East a distance of 33.52 feet to a point; thence run North 69 degrees 40 minutes 29 seconds East a distance of 54.98 feet to a point; thence run North 83 degrees 21 minutes 31 seconds East a distance of 41.22 feet to a point; thence run South 62 degrees 25 minutes 26 seconds East a distance of 15.64 feet to a point; thence run South 18 degrees 52 minutes 54 seconds East a distance of 12.58 feet to a point; thence run South 14 degrees 43 minutes 06 seconds West a distance of 12.46 feet to a point; thence run South 41 degrees 50 minutes 30 seconds West a distance of 15.37 feet to a point; thence run South 40 degrees 20 minutes 17 seconds East a distance of 16.08 feet to a point; thence run along the arc of a 246.66-foot radius curve to the left an arc distance of 157.08 feet (said arc being subtended by a chord bearing South 26 degrees 53 minutes 02 seconds West a distance of 154.44 feet) to a point; thence run South 86 degrees 40 minutes 57 seconds East a distance of 82.67 feet to a point; thence run South 03 degrees 00 minutes 50 seconds West a distance of 37.01 feet to a point; thence run North 89 degrees 30 minutes 00 seconds East a distance of 254.98 feet to a point; thence run South 45 degrees 56 minutes 12 seconds East a distance of 526.69 feet to a point on the northwestern right of way of Morris Road (100 foot right of way); thence run in a generally southwesterly direction along said right of way of the following courses and distances; along a 2131.98-foot radius curve to the right an arc distance of 7.60 feet (said arc being subtended by a chord bearing South 40 degrees 18 minutes 58 seconds West a distance of 7.60 feet) to a point; South 40 degrees 25 minutes 06 seconds West a distance of 110.62 feet to a point; South 49 degrees 06 minutes 50 seconds West a distance of 57.23 feet; South 40 degrees 31 minutes 23 seconds West a distance of 136.82 feet to a point; South 49 degrees 34 minutes 54 seconds East a distance of 8.75 feet to a point; along a 2,322.05-foot radius curve to the right an arc distance of 140.94 feet (said arc being subtended by a chord bearing South 42 degrees 48 minutes 33 seconds West a distance of 140.92 feet) to a point; South 44 degrees 32 minutes 53 seconds West a distance of 49.40 feet to a point; along a 4,668.17-foot radius curve to the right an arc distance of 141.52 feet (said arc being subtended by a chord bearing South 43 degrees 40 minutes 46 seconds West a distance of 141.51 feet) to a point; thence leaving said right of way run thence North 47 degrees 11 minutes 20 seconds West a distance of 30.72 feet to a point; thence run North 51 degrees 12 minutes 43 seconds East a distance of 19.41 feet to a point; thence run North 13 degrees 02 minutes 42 seconds East a distance of 19.98 feet to a point; thence run North 10 degrees 57 minutes 24 seconds West a distance of 13.89 feet to a point; thence run North 31 degrees 43 minutes 47 seconds West a distance of 14.22 feet to a point; thence run North 51 degrees 42 minutes 05 seconds West a distance of 10.38 feet to a point; thence run North 81 degrees 52 minutes 52 seconds West a distance of 26.04 feet to 

		
	6.
	13010 MORRIS ROAD, ALPHARETTA, GA

DEERFIELD I

a point; thence run North 72 degrees 41 minutes 32 seconds West a distance of 26.33 feet to a point; thence run North 40 degrees 09 minutes 18 seconds West a distance of 35.76 feet to a point; thence run North 43 degrees 38 minutes 25 seconds West a distance of 37.19 feet to a point; thence run North 37 degrees 32 minutes 19 seconds West a distance of 106.66 feet to an iron pin set; thence run North 00 degrees 31 minutes 00 seconds East a distance of 40.05 feet to an iron pin found; thence run South 67 degrees 28 minutes 54 seconds West a distance of 32.74 feet to an iron pin found; thence run North 40 degrees 53 minutes 17 seconds West a distance of 41.50 feet to an iron pin found; thence run North 71 degrees 01 minutes 17 seconds West a distance of 11.51 feet to an iron pin found; thence run South 69 degrees 27 minutes 26 seconds West a distance of 21.18 feet to an iron pin found; thence run North 35 degrees 43 minutes 56 seconds West a distance of 266.19 feet to an iron pin found; thence run North 02 degrees 19 minutes 19 seconds East a distance of 400.42 feet to a point; thence run North 51 degrees 07 minutes 55 seconds West a distance of 198.83 feet to an iron pin found on the western right of way of Deerfield Parkway; thence run along said western right of way of Deerfield Parkway along a 750.00-foot radius curve to the left an arc distance of 71.61 feet (said arc being subtended by a chord bearing North 32 degrees 02 minutes 10 seconds East a distance of 71.58 feet) to a point, which is the TRUE POINT OF BEGINNING.
The above described property contains 11.3560 acres or 494,669 square feet.

		
	7.
	13010 MORRIS ROAD, ALPHARETTA, GA

DEERFIELD II 

LEGAL DESCRIPTION

ALL THAT TRACT OR PARCEL OF LAND LYING AND BEING IN LAND LOTS 1045 AND 1116 OF THE 2ND DISTRICT, 2ND SECTION OF FULTON COUNTY, GEORGIA AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS; TO FIND THE POINT OF BEGINNING, commence at a point known as the Fulton County Monument F-313 located within the intersection of Webb Road (having a 60 foot right-of-way), and Morris Road (having a 100 foot right-of-way width); thence leaving the aforesaid monument, run North 87 degrees 23 minutes 31 seconds West a distance of 593.86 feet, to an iron pin found, located on the southern right-of-way of Webb Road, said point being the TRUE POINT OF BEGINNING; from the TRUE POINT OF BEGINNING, as thus established; thence leaving the southern right of way of Webb Road: South 25 degrees 51 minutes 59 seconds East a distance of 575.14 feet to a point; said point being on the northwesterly right of way of Morris Road ( 100 foot right of way) thence run along said northwesterly right of way of Morris Road, in a southwesterly direction the following courses and distances: South 31 degrees 21 minutes 25 seconds West a distance of 119.87 feet to a point; thence with a curve to right having a radius of 2131.98 feet, an arc length of 329.56 feet, subtended by a chord bearing South 34 degrees 47 minutes 08 seconds West a chord distance of 329.24 feet to a point; thence leaving the northwesterly right of way of Morris Road; North 45 degrees 56 minutes 12 seconds West a distance of 526.69 feet to a point; thence run North 07 degrees 14 minutes 35 seconds East, a distance of 205.91 feet to a point; thence run North 30 degrees 07 minutes 23 seconds East, a distance of 79.49 feet to a point; thence run North 04 degrees 40 minutes 53 seconds West, a distance of 80.02 feet to a point; thence run North 10 degrees 55 minutes 06 seconds East, a distance of 199.74 feet to a point; thence South 82 degrees 30 minutes 35 seconds East, along the southern right-of-way of Webb Road, a distance of 36.51 feet to a point; thence North 43 degrees 18 minutes 03 seconds East, a distance of 9.22 feet to a point; thence South 82 degrees 54 minutes 52 seconds East, a distance of 244.63 feet to an iron pin, which is the TRUE POINT OF BEGINNING. The above described property contains 8.37 acres, more or less.

		
	8.
	8800 GRAND OAK CIRCLE, TAMPA, FL

HIDDEN RIVER I

4917165 - NBU 14003132
LEGAL DESCRIPTON

PARCEL 1:

Lots 4 and 9, HIDDEN RIVER CORPORATE PARK PHASE I, according to plat thereof, as recorded in Plat Book 66, Page 3, of the Public Records of Hillsborough County, Florida.

PARCEL 2:

Non-exclusive easement appurtenant to PARCEL 1, as created by Declaration recorded in Official Records Book 5407, Page 1394, restated in Official Records Book 10682, Page 1471, of the Public Records of Hillsborough County, Florida.

		
	9.
	14025 RIVEREDGE DR., TAMPA, FL

HIDDEN RIVER II

4917174 - NBU 14003133
LEGAL DESCRIPTION
PARCEL 1:

Lots 10, 11 and 12, HIDDEN RIVER CORPORATE PARK PHASE I, according to plat thereof, as recorded in Plat Book 66, Page 3, of the Public Records of Hillsborough County, Florida.

LESS AND EXCEPT a parcel of land being a portion of Lot 10, HIDDEN RIVER CORPORATE PARK, PHASE 1, as recorded in Plat Book 66, Page 3, of the Public Records of Hillsborough County, Florida, being more particularly described as follows:

Begin at the Westernmost corner of Lot 10, said point also being the intersection of the centerline of Laurel Haven Way with the East right-of-way of Riveredge Drive; thence along said East right-of-way by following four (4) courses: 1) North 41°27'07" East, a distance of 59.45 feet; 2) North 25°45' 15" East, a distance of 62.62 feet to the beginning of a curve; 3)110.08 feet along the arc of said curve, concave Northwesterly, having a central angle of 17°46'02", a radius of 355.00 feet, a chord bearing of North 23°53'29" East, and a chord distance of 109.64 feet to the curve's end; 4) North 15°00'28" East, a distance of 98.33 feet, thence departing said East right-of-way, South 45°33'52" East, a distance of 439.17 feet; thence South 44°26'08" West, a distance of 140.00 feet to the Northernmost corner of Lot 9; thence South 44°26'08" West along the common boundary line between said Lots 9 and 10, a distance of 167.00 feet to a point on intersection with the centerline of Laurel Haven Way; thence along said centerline, North 45°33'52" West, a distance of 329.23 feet to the Point of Beginning.

PARCEL 2:

Non-exclusive easement appurtenant to PARCEL 1, as created by Declaration recorded in Official Records Book 5407, Page 1394, restated in Official Records Book 10682, Page 1471, of the Public Records of Hillsborough County, Florida.

		
	10.
	14055 RIVEREDGE DR., TAMPA, FL

HIDDEN RIVER III
    
4917192  - NBU 14003134

LEGAL DESCRIPTION

PARCEL 1:

Lot 13, HIDDEN RIVER CORPORATE PARK, PHASE I, according to the plat thereof as recorded in Plat Book 66, Page 3, of the Public Records of Hillsborough County, Florida.

AND

Lots 1, 2 and 3, HIDDEN RIVER CORPORATE PARK, PHASE 4, according to the plat thereof as recorded in Plat Book 86, Page 77, of the Public Records of Hillsborough County, Florida.

PARCEL2:

Non-exclusive easement appurtenant to PARCEL 1, as created by Declaration recorded in Official Records Book 5407, Page 1394, restated in Official Records Book 10682, Page 1471, of the Public Records of Hillsborough County, Florida.

		
	11.
	9100 Shelbyville Road, Louisville, KY

PARAGON PLACE

LEGAL DESCRIPTION

Located in Jefferson County, Kentucky:

Being all of Tract 1 as shown on plat attached to deed recorded in Deed Book 4692, page 478, in the office of the Clerk of Court of Jefferson County, Kentucky; said tract being part of Revised Lot 2 of Hurstbourne, Section 5, as shown on "Revision of Lots 1, 2, 3A, 3B, 4, 5, 6A, 6B, 6C, 6D and 6E, Hurstbourne, Section 5", recorded in Plat and Subdivision Book 29, page 89, said records.

Being the same property conveyed to Paragon Owner Corp., by Deed dated August 30, 2005, recorded in Deed Book 8690, Page 574, in the Office of the Clerk of Jefferson County, Kentucky.

		
	12.
	11310 & 11410 GREENS CROSSING, HOUSTON, TX

RESERVE AT GREENS CROSSING II

LEGAL DESCRIPTION

Metes and bounds description for 16.01 acres (697,330 square feet) of land out of Restricted Reserve "C" Greens Crossing, Section Four, a subdivision recorded in Volume 308, Page 2, Harris County Map Records (H.C.M.R.) and being in the W.C.R.R. Co. Survey, Section 17, A-889, City of Houston, Harris County, Texas:

Commencing at an "X" in concrete at the westerly cutback corner for the west line of Greens Parkway, Right-of-Way (R.O.W.) varies, and the north line of Gears Road, 90-foot R.O.W., said point also being on the south line of said Restricted Reserve "C", also being the south line of a 4.985 acre tract conveyed to Corporate Reinvestments, Inc. under Harris County Clerk's File No. T360662 and the point of curvature of a curve to the left;

Thence along the north line of Gears Road and the south line of said Reserve "C" in a northwesterly direction along said curve to the left having a central angle of 05 deg. 33 min. 11 sec., a radius of 2,045.00 feet, an arc length of 198.20 feet, a chord bearing of North 89 deg. 31 min. 14 sec. West and a chord distance of 198.12 feet to the point of tangency of said curve and a found 5/8-inch iron rod;

Thence South 87 deg. 42 min. 11 sec. West, continuing along the north line of Gears Road and the south line of said Reserve "C" at 15.18 feet passing a found 5/8-inch iron rod, in all a total distance of 141.26 feet to a set 5/8-inch iron rod with cap, the POINT OF BEGINNING and southeast corner of the herein described tract of land;

Thence continuing along the north line of Gears Road and the south line of said Reserve "C", South 87 deg. 42 min. 11 sec. West, a distance of 869.65 feet to a set 5/8-inch iron rod with cap, the most easterly end of a 10-foot cutback corner, being the intersection of the north line of Gears Road and the east line of Greens Crossing Boulevard, 90-foot R.O.W., the most southerly southwest corner of the herein described tract of land;

Thence North 47 deg. 34 min. 24 sec. West, along said cutback line, a distance of 14.21 feet to a found 5/8-inch iron rod, a point for the most westerly southwest corner of the herein described tract of land;

Thence North 02 deg. 50 min. 58 sec. West, along the east line of Greens Crossing Boulevard and the west line of said Reserve "C", a distance of 886.69 feet to a found "X" cut in concrete, a point in the most southerly end of a 10-foot cutback corner of the east line of Greens Crossing Boulevard and the south line of West Greens Road, 100-foot R.O.W., the most westerly northwest corner of the herein described tract;

Thence North 42 deg. 17 min. 07 sec. East, along the cutback line, a distance of 14.11 feet to a found "X" cut in concrete, a point for the most northerly northwest corner of the herein described tract of land;

Thence North 87 deg. 25 min. 13 sec. East, along the south line of West Greens Road and the north line of said Reserve "C", a distance of 647.28 feet to a found 5/8-inch iron rod, the northeast corner of the herein described tract, said point also being the northwest corner of Restricted Reserve "G" Greens Crossing, Section Four, recorded in Volume 308, Page 2, H.C.M.R. and the northwest corner of a 5.9267 acre tract conveyed to Parkway Portfolio I, LLC recorded under Harris County Clerk's File No. S879875;

		
	12.
	11310 & 11410 GREENS CROSSING, HOUSTON, TX

RESERVE AT GREENS CROSSING II

Thence departing the south line of West Greens Road, South 02 deg. 34 min. 47 sec. East along the common line being the east line of said Reserve "C" and the west line of said Reserve "G", to a found 5/8-inch iron rod, a distance of 112.38 feet to a point for corner of the herein described tract of land;

Thence South 28 deg. 08 min. 30 sec. East, along said common line, a distance of 108.90 feet to a set 5/8-inch iron rod with cap, a point for corner of the herein described tract of land;

Thence South 02 deg. 34 min. 47 sec. East along said common line, a distance of 121.97 feet to a found 5/8-inch iron rod, a point for corner of the herein described tract of land;

Thence South 87 deg. 25 min. 13 sec. West, along said common line, a distance of 16.75 feet to a found 5/8-inch iron rod, a point for corner of the herein described tract;

Thence South 02 deg. 34 min. 47 sec. East, along said common line, a distance of 186.50 feet to a found 5/8-inch iron rod and a point for corner of the herein described tract of land;

Thence North 87 deg. 25 min. 13 sec. East, along said common line, a distance of 196.39 feet to a set 5/8-inch iron rod with cap, for an interior corner of the herein described tract of land;

Thence South 02 deg. 34 min. 47 sec. East, departing said common line, a distance of 391.93 feet to the POINT OF BEGINNING and containing 16.01 acres or 697,330 square feet of land, more or less.

		
	13.
	13501 INGENUITY DR., ORLANDO, FL

RESOURCE CENTER I

4917203 - NBU 14003135

LEGAL DESCRIPTION
PARCEL ONE:

Lots 1 and 2, Block 19, CENTRAL FLORIDA RESEARCH PARK SECTION III, according to the plat thereof as recorded in Plat Book 19, Pages 24 through 28, inclusive, Public Records of Orange County, Florida.

PARCEL TWO:

TOGETHER WITH non-exclusive easements for ingress and egress and road purposes for the benefit of Parcel One set forth in Third Amended and Restated Declaration of Covenants, Conditions, Restrictions, Reservations and Easements for Central Florida Research Park, recorded in Official Records Book 4294, Page 3790, as amended, Public Records of Orange County, Florida.

		
	14.
	12000 RESEARCH PARKWAY, ORLANDO, FL

RESOURCE SQUARE II

4917219 - NBU 14003136

LEGAL DESCRIPTION

PARCEL ONE:

A tract of land being a portion of Lot 1, Block 9, CENTRAL FLORIDA RESEARCH PARK SECTION-1, according to the plat thereof as recorded in Plat Book 12, pages 123 through 126 of the Public Records of Orange County, Florida being described as follows:

Commence at the Southwest corner of said Lot 1, Block 9 for a Point of Reference, thence run North 00° 09' 52" East, along the West line of said Lot 1, Block 9, 1083.78 feet to the Easterly terminus of the South line of said Lot 1, Block 9 and the Point of Beginning; thence run North 89° 28' 34" West, along said South line of Lot 1, Block 9, a distance of 989.06 feet to the Southeast corner of Lot 2, of said Block 9; thence run North 00° 31' 24" East, along the West line of said Lot 1, Block 9, a distance of 337.40 feet to a point on the Southerly right-of-way line of Research Parkway, according to the aforementioned Plat of Central Florida Research Park Section - 1, said point lying on a non-tangent right-of-way curve concave Northerly; thence run Easterly along said right-of-way curve, having a radius of 1684.42 feet, a central angle of 02° 20' 02" an arc length of 68.61 feet, a chord bearing of North 84° 21' 26" East and a chord length of 68.61 feet to a point of tangency; thence, continuing along said Southerly right-of-way, run North 83° 11' 25" East, 242.90 feet to a point of a curvature of a curve concave Northerly; thence continue along said Southerly right-of-way line, run Easterly along said curve having a radius of 897.42 feet, a central angle of 24° 00' 00", an arc length of 375.91 feet, a chord bearing of North 71° 11' 25" East and a chord length of 373.17 feet to a point of tangency; thence run North 59° 11' 24" East, along said right-of-way line, 59.49 feet to a point of curvature of a curve concave Southerly; thence run Easterly along said curve and along said right-of-way line having a radius of 994.63 feet, a central angle of 17° 07' 02", an arc length of 297.15 feet, a chord bearing of North 67° 44' 57" East, and a chord length of 296.04 feet to the intersection with the Northerly extension of the West line of said Lot 1, Block 9 from the aforesaid point of reference and the West line of the lands described as Parcel 1 recorded in Official Records Book 5082, page 1611 of said public records, thence run South 00° 09' 52" West along said extension, 644.88 feet to the Point of Beginning of the herein described lands.

PARCEL TWO:

TOGETHER WITH non-exclusive easements for ingress and egress and road purposes for the benefit of Parcel One set forth in Third Amended and Restated Declaration of Covenants, Conditions, Restrictions, Reservations and Easements for Central Florida Research Park, recorded in Official Records Book 4294, Page 3790, as amended, Public Records of Orange County, Florida.

		
	15.
	12000 RESEARCH PARKWAY, ORLANDO, FL

RESOURCE SQUARE III

4917244 -NBU 14003137

LEGAL DESCRIPTION

PARCEL ONE:

A portion of Block - 1, CENTRAL FLORIDA RESEARCH PARK SECTION - I, as recorded in Plat Book 12, pages 123 through 126, Public Records of Orange County, Florida, more particularly described as follows:

Commence at the Northwest corner of Block - 1, CENTRAL FLORIDA RESEARCH PARK SECTION - I, as recorded in Plat Book 12, pages 123 through 126, Public Records of Orange County, Florida; thence run North 88° 59' 01" East, along the North line of said Block 1, a distance of 488.81 feet for a Point of Beginning; thence continue along said North line, North 88° 59' 01" East, a distance of 288.17 feet; thence departing said North line, run South 27° 16' 26" East, a distance of 494.32 feet; thence North 72° 23' 02" East, 224.50 feet; thence South 00° 00' 00" East, a distance of 2.60 feet; thence North 90° 00' 00" East, 16.64 feet; thence run South 14° 23' 33" East, 30.19 feet to a point on a curve concave Southerly, having a central angle of 06° 54' 11" and a radius of 1307.17 feet; thence from a chord bearing of North 79° 03' 25" East, run Easterly along the arc of said curve, 157.49 feet; thence South 00° 00' 00" East, 195.97 feet to a curve concave Southerly, having a central angle of 22° 00' 00" and a radius of 1114.63 feet; thence from a chord bearing of South 70° 11' 24" West, run Westerly along the arc of said curve, a distance of 427.99 feet to the point of tangency; thence run South 59° 11' 24" West, a distance of 59.49 feet; to the point of curvature of a curve concave Northwesterly; having a central angle of 24° 00' 00" and a radius of 777.42 feet; thence run Southwesterly along the arc of said curve, a distance of 325.64 feet to the point of tangency; thence run South 83° 11' 25" West, a distance of 115.56 feet; to the point of curvature of a curve concave Northerly having a central angle of 17° 13' 44" and a radius of 592.89 feet; thence run Westerly along the arc of said curve a distance of 178.28 feet; thence departing said curve and said South line, run North 32° 37' 40" West, a distance of 28.08 feet; thence North 12° 22' 20" East, a distance of 252.42 feet; to the point of curvature of a curve concave Northwesterly having a central angle of 12° 33' 24" and a radius of 217.00 feet; thence run Northeasterly along the arc of said curve, a distance of 47.56 feet to the point of tangency; thence run North 00° 11' 04" West, a distance of 38.57 feet; thence North 89° 48' 56" East, a distance of 100.00 feet; thence North 00° 11' 04" West, a distance of 494.92 feet to the Point of Beginning.

TOGETHER WITH Non-Exclusive Ingress-Egress Easement dated January 23, 1998, by and between LA QUINTA INNS, INC., a Texas corporation (together with its successors and assigns, "La Quinta"), John M. Hofmann as Successor Trustee of the Cheryl Kim Fitzgerald Irrevocable Trust dated December 27, 1980, and as Successor Trustee of the James Mahlon Fitzgerald Irrevocable Trust dated March 27, 1980, and as Successor Trustee of the John Anthony Fitzgerald Irrevocable Trust dated March 27, 1980, and as Successor Trustee of the Karen Lea Fitzgerald Irrevocable Trust dated March 27, 1980, recorded January 29, 1998 in Official Records Book 5405, page 422, Public Records of Orange County, Florida.

		
	15.
	12000 RESEARCH PARKWAY, ORLANDO, FL

RESOURCE SQUARE III

PARCEL TWO:

TOGETHER WITH non-exclusive easements for ingress and egress and road purposes for the benefit of Parcel One set forth in Third Amended and Restated Declaration of Covenants, Conditions, Restrictions, Reservations and Easements for Central Florida Research Park, recorded in Official Records Book 4294, Page 3790, as amended, Public Records of Orange County, Florida.

		
	16.
	3237 SATELLITE BLVD., DULUTH, GA

SATELLITE 300

LEGAL DESCRIPTION

All that tract or parcel of land lying and being in Land Lots 206 & 233 of the 6th Land District, Gwinnett County, Georgia and being more particularly described as follows:

TO FIND THE TRUE POINT OF BEGINNING, commence at the intersection of the northeast right-of-way of Satellite Boulevard (right-of-way varies) and the westerly right-of-way of Commerce Avenue, if extended to form a point; THENCE run in a westerly direction along the northeast right-of-way of Satellite Boulevard the following four (4) courses and distances:

North 66 degrees 16 minutes 57 seconds West for a distance of 43.78 feet to a point;
North 66 degrees 16 minutes 57 seconds West for a distance of 217.81 feet to a point;
North 52 degrees 47 minutes 12 seconds West for a distance of 51.42 feet to a point, 
North 66 degrees 16 minutes 57 seconds West for a distance of 218.06 feet to a point, said
point being THE TRUE POINT OF BEGINNING.  FROM SAID TRUE POINT OF BEGINNING AS THUS ESTABLISH, continuing along said right-of-way the following seven (7) courses and distance:

North 66 degrees 16 minutes 57 seconds West for a distance of 15.00 feet to a point;
South 23 degrees 43 minutes 03 seconds West for a distance of 12.00 feet to a point;
North 66 degrees 16 minutes 57 seconds West for a distance of 179.61 feet to a point;
North  52 degrees 47 minutes 12 seconds West for a distance of 51.42 feet to a point;
North 66 degrees 16 minutes 57 seconds West for a distance of 153.29 feet to a point;
North 23 degrees 43 minutes 03 seconds East for a distance of 11.00 feet to a point;
along a curve to the left having a radius of 5,825.00 feet and an arc length of 91.62
feet (said arc being subtended by a chord bearing North 66 degrees 43 minutes 59 seconds West
for a distance of 91.62 feet) to an iron pin set; THENCE leaving said right-of-way run North 22 degrees 53 minutes 28 seconds East for a distance of 205.05 feet to an iron pin set; THENCE
along a curve to the left having a radius of 6,027.17 feet and an arc length of 169.39 feet (said arc being subtended by a chord bearing North 68 degrees 00 minutes 32 seconds West for a 
distance of 169.39 feet) to an iron pin set; THENCE run North 21 degrees 21 minutes 48 seconds East for a distance of 325.71 feet to a point, THENCE run South 68 degrees 38 minutes 12 seconds  East for a distance of 33.46 feet to a point; THENCE run South 34 degrees 23 minutes 49 seconds East for a distance of 45.33 feet to a point; THENCE run South 12 degrees 35 minutes 18 seconds East for a distance of 125.40 feet to a point; THENCE run North 77 degrees 24 minutes 42 seconds East for a distance of 341.00 feet to a point; THENCE run South 12 degrees 35 minutes 18 seconds East for a distance of 95.00 feet to a point; THENCE run North 77 degrees 24 minutes 42 seconds East for a distance of 22.90 feet to a point; THENCE run South 66 degrees 17 minutes 21 seconds East for a distance of 206.85 feet to a point; THENCE run South 24 degrees 07 minutes 28 seconds West for a distance of 315.52 feet to a point; THENCE run South 50 degrees 45 minutes 00 seconds West for a distance of 55.49 feet to a point; THENCE run South 23 degrees 41 minutes 03 seconds West for a distance of 186.01 feet to a point on the northeasterly right-of-way of Satellite Boulevard, said point being THE TRUE POINT OF BEGINNING

The above described property contains 7.431 acres, more or less, and is shown on and described according to that certain ALTA/ACSM Land Title Survey dated July 23, 2001, last revised September 26, 2001, prepared for Security Life of Denver Insurance Company, its successors and/or assigns. Crescent Brookdale Associates, LLC, Crescent Resources, LLC, Brookdale

		
	16.
	3237 SATELLITE BLVD., DULUTH, GA

SATELLITE 300

Investors Four, L.P., Chicago Title Insurance Company and Fidelity National Title Insurance Company by Precision Planning, Inc., which survey is hereby incorporated by this reference and made a part of this legal description.

TOGETHER with, the right to natural water runoff and other surface water runoff within and along existing conduits, culverts, pipes, ponds and other facilities constructed for such surface water runoff on (a) that certain real property owner in fee for Crescent Resources, LLC, successor by merger to Crescent Resources, Inc. pursuit to the document recorded with the 
Clerk of the Superior Court of Gwinnett County, Georgia in Deed Book 12992 at Page 171 which is contiguous with and immediately adjacent to the northern property line of the below described property and (b) that certain real property more particularly described below:

LEGAL DESCRIPTION TRACT THREE

All that tract or parcel of land lying and being in Land Lots 206 and 233 of the 6th Land District, Gwinnett County, Georgia and being more particularly described as follows:

To find the true point of beginning, commence at the intersection of the
northeast right-of-way of Satellite Boulevard (right-of-way varies) and the
westerly right-of-way of Commerce Avenue, If extended to form a point;
THENCE traveling on the westerly right-of-way of Commerce Avenue
North 23 degrees 43 minutes 03 seconds East for a distance of 228.27 feet
to a point, said point marked by a 1/2 inch rebar pin set; THENCE
continuing along said right-of-way North 23 degrees 43 minutes 03 seconds
East for a distance of 325.84 feet to a point; THENCE on said right of 
way along a curve to the left having a radius of 1041.35 feet and an arc
length of 371.63 feet, being subtended by a chord of North 13 degrees 29 minutes
38 seconds East for a distance of 369.66 feet to a point; said point being the
TRUE POINT OF BEGINNING.

THENCE from said point as thus established, leaving said right-of-way
and traveling North 73 degrees 20 minutes 15 seconds West for a distance
of 78.77 feet to a point; THENCE along a curve to the right having a
radius of 222.00 feet and an arc length of 208.34 feet, being subtended by a
chord of South 42 degrees 24 minutes 36 seconds West for a distance 200.78
feet to a point; THENCE North 25 degrees 47 minutes 34 seconds West for
a distance of 17.70 feet to a point; THENCE South 68 degrees 36 minutes 10 
seconds West for a distance of 113.17 feet to a point; THENCE North 89 
degrees 01 minutes 33 seconds West for a distance of 75.75 feet to a point;
THENCE South 59 degrees 51 minutes 56 seconds West for a distance of
70.73 feet to a point; THENCE North 66 degrees 17 minutes 21 seconds 
West for a distance of 89.27 feet to a point; THENCE North 66 degrees
17 minutes 21 seconds West for a distance of 206.85 feet to a point;
THENCE South 77 degrees 24 minutes 42 seconds West for a distance of
22.90 feet to a point; THENCE North 12 degrees 35 minutes 18 seconds
West for a distance of 95.00 feet to a point; THENCE South 77 degrees
24 minut5es 42 seconds West for a distance of 341.00 feet to a
point; THENCE North 12 degrees 35 minutes 18 seconds West 

		
	16.
	3237 SATELLITE BLVD., DULUTH, GA

SATELLITE 300
    
for a distance of 125.40 feet to a point; THENCE North 34 degrees
23 minutes 49 seconds West for a distance of 45.33 feet to a
point; THENCE North 68 degrees 38 minutes 12 seconds West for 
a distance of 33.46 feet to a point; THENCE North 21 degrees
21 minutes 48 seconds East for a distance of 243.07 feet to a
point; said point marked by a 1/2 inch rebar pin set; THENCE
South 29 degrees 52 minutes 26 seconds East for a distance
of 232.58 feet to a point, said point marked by a 1/2 inch rebar,
THENCE North 82 degrees 51 minutes 04 seconds East for a
distance of 976.23 feet to a point on the westerly right-of-way of Commerce
Avenue, said point marked by a 1/2 inch rebar pin set; THENCE
traveling on said right-of-way along a curve to the right having
a radius of 1041.35 feet and an arc length of 266.81 feet, being
subtended by a chord of South 04 degrees 04 minutes 12 seconds
East for a distance of 266.08 feet to a point; said point being THE
TRUE POINT OF BEGINNING.

Said property contain 7.625 acres more or less.

		
	17. 
	3237 SATELLITE BLVD., DULUTH, GA

SATELLITE 400 

LEGAL DESCRIPTION

All tract or parcel of land lying and being in Land Lot 206 of the 6th Land District, Gwinnett County, Georgia and being more particularly described as follows:

TO FIND THE TRUE POINT OF BEGINNING, commence at the intersection of the  northeast right-of-way of Satellite Boulevard (right-of-way varies) and the westerly right-of-way of Commerce Avenue (100 ROW), if extended to form a point; THENCE run along the northeast right-of-way of Satellite Boulevard North 66 degrees 16 minutes 57 seconds West for a distance of 43.78 feet to a point, said point being THE TRUE POINT OF BEGINNING; FROM SAID TRUE POINT OF BEGINNING AS THUS ESTABLISHED, continue along said right-of-way in a westerly direction the following three (3) courses and distance:  North 66 degrees 16 minutes 57 seconds West for a distance of 217.81 feet to a point; North 52 degrees 47 minutes 12 seconds West for a distance of 51.42 feet to a point; North 66 degrees 16 minutes 57 seconds West for a distance of 218.06 feet to a point; THENCE leaving said right-of-way run North 23 degrees 41 minutes 03 seconds East for a distance of 186.01 feet to a point; THENCE run North 50 degrees 45 minutes 00 seconds East for a distance of 55.49 feet to a point; THENCE run North 24 degrees 07 minutes 28 seconds East for a distance of 315.52 feet to a point; THENCE  run South 66 degrees 17 minutes 21 seconds East for a distance of 89.27 feet to a point; THENCE run North 59 degrees 51 minutes 56 seconds East for a distance of 70.73 feet to a point; THENCE run South 89 degrees 01 minutes 33 seconds East for a distance of 75.75 feet to a point; THENCE run North 68 degrees 36 minutes 10 seconds East for a distance of 113.17 feet to a point; THENCE run South 25 degrees 47 minutes 34 seconds East for a distance of 17.70 feet to a point; THENCE run along a curve to the left having a radius of 222.00 feet and an arc length of 208.34 feet, being subtended by a chord of North 42 degrees 24 minutes 36 seconds East for a distance of 200.77 feet to a point; THENCE run South 73 degrees 20 minutes 15 seconds East for a distance of 78.77 to a point; said point lying on the westerly right-of-way of Commerce Avenue (100 foot right-of-way); THENCE run along the westerly right-of-way of Commerce Avenue in a generally southwesterly direction the following courses and distances:  along a curve to the right having a radius of 1,041.35 feet and an arc length of 371.63 feet, being subtended by a chord of South 13 degrees 29 minutes 38 seconds West for a distance of 369.66 feet to a point; South 23 degrees 43 minutes 03 seconds West for a distance of 464.63 feet to a point; South 49 degrees 47 minutes 23 seconds West for a distance of 99.62 feet to a point, said pointe being THE TRUE POINT OF BEGINNING

The above described property contains 8.321 acres, more or less, and is shown on and described according to that certain ALTA/ACSM Land Title Survey prepared Chicago Title Insurance Company and Crescent Brookdale Associates, LLC, made by Precisions Planning, Inc., bearing the seal and signature of Randall W. Dixon, Ga. R.L.S. No. 1678, dated May 20, 2005, which survey is incorporated herein by this reference and made a part of this legal description.

LESS AND EXCEPT:

Right-of-way Deed between Satellite 400 Owner Corp., and Gwinnett County, a political subdivision of the State of Georgia dated November 6, 2007, recorded February 13, 2008 in Deed Book 48634, Page 424, aforesaid records.  (sketch provided within Record Description is one and same description shown at Deed Book 48634, Page 424) 

		
	18.
	3175 SATELLITE BLVD., DULUTH, GA 

SATELLITE 600

LEGAL DESCRIPTION

All that tract or parcel of land lying and being in Land Lot 206 of the 6th Land District of Gwinnett County, Georgia, and being more particularly described as follows:

TO FIND THE TRUE POINT OF BEGINNING, commence at a point at the intersection of the northerly right-of-way of Satellite Boulevard (right-of-way varies) and the northeasterly right-of-way of Commerce Avenue Extension (100 foot right-of-way) if extended to form a point; THENCE run along said right-of-way of Commerce Avenue Extension north 23 degrees 43 minutes 03 seconds east, for a distance of 94.31 feet to a point, said point being the TRUE POINT OF BEGINNING, FROM SAID TRUE POINT OF BEGINNING AS THUS ESTABLISHED, run thence n a generally northeasterly direction along the northeasterly right-of-way of Commerce Avenue the following courses and distances:  North 23 degrees 43 minutes 03 seconds East for a distance of 153.57 feet to a point; North 38 degrees 03 minutes 04 seconds East for a distance of 40.39 feet to a point; North 23 degrees 43 minutes 03 seconds East for a distance of 203.13 feet to a point; North 66 degrees 16 minutes 57 seconds West for a distance of 10.00 feet to a point; North 23 degrees 43 minutes 03 seconds East for a distance of 51.71 feet to a point; along a curve to the left having a radius of 1141.358 feet and an arc length of 330.98 feet (said curve being subtended by a chord bearing North 15 degrees 24 minutes 36 seconds East for a distance of 329.82 feet) to a point; North 60 degrees 02 minutes 35 seconds East for a distance of 40.62 feet to a point on the southwesterly right-of-way of Old Norcross Extension (100 foot right-of-way); thence run in a generally southeasterly direction along the southwesterly right-of-way of Old Norcross Extension the following courses and distances:  along a curve to the right having a radius of 465.24 feet and an arc length of 237.80 feet (said arc being subtended by a chord bearing South 54 degrees 1 minutes 09 seconds East for a distance of 235.22 feet) to a point; South 23 degrees 49 minutes 40 seconds East for a distance of 44.04 feet to a point; along a curve to the right having a radius of 455.24 feet and an arc length of 36.73 feet (said arc being subtended by a chord bearing South 31 degrees 57 minutes 23 seconds East for a distance of 36.72 feet) to a point; along a curve to the right having a radius of 561.26 feet and an arc length of 120.51 feet (said arc being subtended by a chord of South 23 degrees 29 minutes 37 seconds East for a distance of 120.28 feet) to a point; North 72 degrees 39 minutes 26 seconds East for a distance of 10.00 feet to a point; along a curve to the right having a radius of 571.26 feet and an arc length of 229.07 feet (said arc being subtended by a chord bearing South 05 degrees 51 minutes18 seconds East for a distance of 227.54 feet) to a point; along a curve to the left  having a radius of 590.88 feet and an arc length of 253.69 feet (said arc being subtended by a chord of South 06 degrees 40 minutes 03 seconds East for a distance of 251.75 feet) to a point; South 18 degrees 58 minutes 04 seconds East for a distance of 55.25 feet to a point, South 29 degrees 19 minutes 16 seconds West for a distance of 44.79 feet to a point on the northerly right-of-way of Satellite Boulevard Extension (right-of-way varies); thence run in a generally westerly direction along the northerly right-of-way of Satellite Boulevard Extension the following courses and distance:  South 71 degrees 48 minutes 26 seconds West for a distance of 36.92 feet to a point; North 88 degrees 55 minutes 26 seconds West for a distance of 24.89 feet to a point; along a curve to the right having a radius of 1,066.00 feet and an arc length of 346.64 feet (said arc being subtended by a chord of South 88 degrees 05 minutes 50 seconds West for a distance of 345.11 feet) to a point; along a curve to the right having a radius of 1066.00 feet and an arc length of 178.88 feet (said arc being subtended by a chord bearing North 77 degrees 46 minutes 48 seconds West for a distance of 178.67 feet) to a point; North 25 degrees 28 minutes 13 seconds West for a distance of 133.58 feet to the TRUE POINT OF BEGINNING.

		
	18.
	3175 SATELLITE BLVD., DULUTH, GA 

SATELLITE 600

The above described property contains 9.00 acres, more or less, and is shown on and described according to that certain ALTA/ACSM Land Title Survey for Brookport Owners Corp.; Eurohypo AG New York Branch, and its successors and assigns; Chicago Title Insurance Company; Satellite 300 Owners Corp.; and Satellite 400 Corp., made by Precision Planning, Inc. bearing the seal and signature of Randall W. Dixon, Ga., R.L.S. No. 1678, dated August 1, 2005.

TOGETHER WITH rights acquired by virtue of Master Declaration of Covenants, Easements, Restrictions and Association for Satellite Place by Crescent Resources, LLC, dated and filed December 5, 2001, recorded in Deed Book 25422, Page 60, aforesaid records; as amended by Amendment dated December 21, 2001, filed December 26, 2001, recorded in Deed Book 25709, Page 162, aforesaid records; as further amended by Agreement dated December 21, 2001, filed December 26, 2001, recorded in Deed Book 25709, Page 193, aforesaid records, as further amended by Seconds Amendment dated November 20, 2002, filed November 21, 2002, recorded in Deed Book 29819, Page 67, aforesaid records.

		
	19.
	3095 SATELLITE BLVD., DULUTH, GA

SATELLITE 800

LEGAL DESCRIPTION

ALL TRACT OR PARCEL OF LAND lying and being in Land Lot 206 of the 6th Land District of Gwinnett County, Georgia, being more particularly described as follows:

BEGINNING at an iron pin set at the northerly right-of-way of Satellite Boulevard (right-of-way varies) and the easterly right-of-way of Old Norcross Road Extension (100’ right-of-way), said point being a mitered corner; THENCE along said right-of-way of Satellite Boulevard the following four (4) courses and distance:  THENCE along a curve to the left having a radius of 1066.00 feet, and an arc length of 131.50 feet, being subtended by a chord of North 62 degrees 38 minutes 20 seconds East for a distance of 131.42 feet to a point; THENCE along a curve to the right, having a radius of 9651.94 feet and an arc length of 154.79 feet, being subtended by a chord of North 59 degrees 33 minutes 51 seconds East; for a distance of 154.79 feet to a point; THENCE North 65 degrees 51 minutes 51 seconds East for a distance of 31.26 feet to a point; THENCE along the arc of a curve to the right having a radius of 1041.34 feet and an arc length of 94.61 feet, being subtended by a chord of North 53 degrees 51 minutes 29 seconds East for a distance of 94.58 feet to a point, said point being the TRUE POINT OF BEGINNING; THENCE from said point as thus established and leaving said right-of-way, North 26 degrees 02 minutes 34 seconds West, for a distance of 37.96 feet to a point; THENCE North 21 degrees 31 minutes 18 seconds West for a distance of 28.09 feet to a point; THENCE North 26 degrees 02 minutes 34 seconds West for a distance of 36.00 feet to a point; THENCE North 27 degrees 26 minutes 30 seconds West for a distance of 200.27 feet to a point; THENCE North 22 degrees 03 minutes 20 seconds West for a distance of 256.37 feet to a point; THENCE North 11 degrees 05 minutes 26 seconds West for a distance of 133.46 feet to a point; THENCE North 10 degrees 47 minutes 38 seconds West for a distance of 49.73 feet to a point; THENCE North 25 degrees 56 minutes 34 seconds West for a distance of 38.00 feet to a point; THENCE North 22 degrees 24 minutes 37 seconds West for a distance of 302.19 feet to a point; THENCE North 67 degrees 35 minutes 26 seconds East for a distance of 51.36 feet to an iron pin set; THENCE South 22 degrees 24 minutes 34 seconds East for a distance of 74.78 feet to an iron pin set; THENCE North 64 degrees 53 minutes 43 seconds East for a distance of 350.00 feet to an iron pin set; THENCE South 22 degrees 24 minutes 34 seconds East for a distance of 470.00 feet to an iron pin set; THENCE South 26 degrees 02 minutes 17 seconds East for a distance of 512.86 feet to an iron pin set on the aforesaid right-of-way of Satellite Boulevard; THENCE along said right-of-way, South 63 degrees 57 minutes 24 seconds West for a distance of 312.67 feet to a point; THENCE continuing along said right-of-way along a curve to the left having a radius of 1041.34 feet and an arc length of 136.24 feet, and being subtended by a chord of South 60 degrees 12 minutes 31 seconds West for a distance of 136.14 feet to a point, said point being the TRUE POINT OF BEGINNING.

Said property contains 9.807 acres, more or less, and being shown and depicted as Tract Two on ALTA/ACSM Land Title Survey for Bookport Owners Corp.; Eurohypo AG New York Branch, and its successors and assigns, Chicago Title Insurance Company; Satellite 300 Owner Corp.; and Satellite 400 Corp., made by Precision Planning, Inc., bearing the seal and signature of Randall W. Dixon, Ga. R.L.S. No. 1678, dated August 1, 2005.

		
	19.
	3095 SATELLITE BLVD., DULUTH, GA

SATELLITE 800

TOGETHER WITH easement rights set forth in Master Declaration of Covenants, Easements, Restrictions and Association for Satellite Place by Crescent Resources, LLC, dated and filed December 5, 2001, recorded in Deed Book 25422, page 60, Gwinnett County records; as amended by Amendment dated December 21, 2001, filed December 26, 2001, recorded in Deed Book 25709, page 162, aforesaid records; as further amended by Agreement dated December 21, 2001, filed December 26, 2001, recorded in Deed Book 25709, page 193, aforesaid records; as further amended by Second Amendment dated November 20, 2002, recorded in Deed Book 29819, page 67, aforesaid records.

20.  9201 FOREST HILL AVENUE, RICHMOND, VA
STONY POINT II

LEGAL DESCRIPTION 
All that certain lot or parcel of land together with all improvements thereon located and being in the City of Richmond, Virginia and being more particularly described as follows:
All that parcel of land with the improvements thereon and appurtenances thereunto belonging, in the City of Richmond, Virginia, and designated as Lot 7B, Block A, Stony Point, on a certain plat entitled "Stony Point Subdivision of Lot 7, Block A, City of Richmond, Virginia", made by Balzer & Associates, Inc., dated September 3, 1985, and recorded July 18, 1986, in the Clerk's Office, Circuit Court, City of Richmond, Virginia, in Plat Book 37 at page 83, and more particularly shown on a certain plat entitled, "Improvements on Lot 7B, Block "A", Resubdivision on Lot 7, Block A, Stony Point, City of Richmond, Virginia", dated June 27, 1986, revised July 21, 1986, a copy of which is recorded in the Clerk's Office in Plat Book 37 at page 85, reference to which is made for a more particular description of the property conveyed hereby.
The above is more particularly described by metes and bounds as follows:
BEGINNING AT A POINT ON THE WEST LINE OF STONY POINT ROAD BEING SOUTHEAST 502.35 FEET FROM THE INTERSECTION OF THE WEST LINE OF STONY POINT ROAD AND THE SOUTH LINE OF FOREST HILL AVENUE THENCE; LEAVING THE WEST LINE OF STONY POINT ROAD SOUTH 54°30'40" WEST A DISTANCE OF 521.28 FEET TO A POINT THENCE; NORTH 33°36'21" WEST A DISTANCE OF 386.90 FEET TO A FOUND ROD THENCE; NORTH 16° 38'06" WEST A DISTANCE OF 129.01 FEET TO A FOUND ROD THENCE; ALONG A CURVE TO THE RIGHT HAVING A RADIUS OF 160.53 FEET, A LENGTH OF 46.61 FEET, A DELTA ANGLE OF 16°38'06", A CHORD BEARING OF NORTH 08°19'03" WEST AND A CHORD DISTANCE OF 46.44 FEET TO A FOUND NAIL IN ASPHALT THENCE; DUE NORTH A DISTANCE OF 79.15 FEET TO A FOUND NAIL IN THE CONCRETE CURB THENCE; DUE EAST A DISTANCE OF 18.00 FEET TO A FOUND LEAD HUB AND TACK IN ASPHALT THENCE; ALONG A CURVE TO THE LEFT HAVING A RADIUS OF 560.00 FEET, A LENGTH OF 339.78 FEET, A DELTA ANGLE OF 34°45'52", A CHORD BEARING OF NORTH 72°37'04" EAST AND A CHORD DISTANCE OF 334.59 FEET TO A FOUND ROD THENCE; ALONG A CURVE TO THE RIGHT HAVING A RADIUS OF 25.00 FEET, A LENGTH OF 35.49 FEET, A DELTA ANGLE OF 81 °20'30", A CHORD BEARING OF SOUTH 84°05'37" EAST AND A CHORD DISTANCE OF 32.59 FEET TO A FOUND ROD THENCE; SOUTH 43°25'22" EAST A DISTANCE OF 128.62 FEET TO A FOUND ROD THENCE; ALONG A CURVE TO THE RIGHT HAVING A RADIUS OF 2305.00 FEET, A LENGTH OF 234.36 FEET. A DELTA ANGLE OF 05°49'32", A CHORD BEARING OF SOUTH 40°30'36" EAST AND A CHORD DISTANCE OF 234.26 FEET TO A FOUND ROD THENCE; SOUTH 37°35'50" EAST A DISTANCE OF 111.37 FEET TO A FOUND ROD THENCE; ALONG A CURVE TO THE RIGHT HAVING A RADIUS OF 17,015.00 FEET, A LENGTH OF 6.52 FEET, A DELTA ANGLE OF 0° 01'19", A CHORD BEARING OF SOUTH 37°35'10" EAST AND A CHORD DISTANCE OF 6.52 FEET TO A SET ROD BEING THE POINT OF BEGINNING AND CONTAINING 262,933 SQUARE FEET OR 6.036 ACRES OF LAND, MORE OR LESS.
TOGETHER with (1) easement and right of way 29 feet wide across Lot 7A for ingress and egress from Lot 7B to Forest Hill Avenue; (2) an easement of variable width across Lot 7A for purposes of installing, constructing, maintaining, operating, repairing, altering, replacing, relocating, and removing pipes and other appurtenant facilities for purposes of transmitting sewage waste from Lot 7B through underground facilities to Forest Hill Avenue; and (3) an easement 16 feet wide for purposes of installing, constructing, maintaining, operating, repairing, altering, replacing, and removing drainage pipes and other appurtenant facilities for the purpose of transmitting surface drainage water from Lot 7B through underground facilities in and under Lot 7A, all of which were granted by Agreement between Stony Point Office Park Associates, 

20.  9201 FOREST HILL AVENUE, RICHMOND, VA
STONY POINT II

a Virginia limited partnership, and W & I Associates, a Virginia general partnership, dated June 25, 1986, recorded July 18, 1986, in the Clerk's Office, Circuit Court, City of Richmond, Virginia, in Deed Book 86 at page 1937.
Together with a non-exclusive easement for pedestrian ingress, egress, access and passage through, over and across the Lakes, shorelines of the Lakes and walking trails for recreational uses only, as set forth in Article VIII, Section 8.06 of Stony Point Protective Covenants, made by Stony Point Investment Company, dated August 9, 1984, recorded August 17, 1984, in Deed Book 14 at page 1808.

21.    15990 N. BARKERS LANDING, HOUSTON, TX
TIMBERWAY ONE

LEGAL DESCRIPTION

Being a tract of land 3.403 acres and being all of Restricted Reserve "A" of Barker's Landing, Section Four, as recorded in Volume 302, Page 27 of the Harris County Map Records, all in Joel Wheaton Survey, A- 80, Harris County, Texas. Said 3.403 acre tract being more particularly described as follows:

Beginning at a 5/8 inch iron rod set being the intersection of the north line of North Barker's Landing Road with the east line of Addicks-Howell Drive; said point also being the most northerly southwest corner of the herein described tract of land;

Thence North 02 deg. 46 min. 56 sec. East, along the east line of Addicks-Howell Drive, 342.94 feet to a found angle iron for a point for corner; said point being the northeast corner of Barker's Landing, Section Four (4) and Restricted Reserve "A" of Barker's Landing, Section Four (4); said point also being the southwest corner of the tract of land conveyed to Kaufman-Meeks, Inc., recorded under Harris County Clerk's File No. J588606 and Film Code No. 087-91-0032 and the northwest corner of the herein described tract of land;

Thence North 87 deg. 16 min. 40 sec. East, along a common line being the north line of Restricted Reserve "A" of Barker's Landing, Section Four (4) and the south line of Kaufman-Meeks, Inc. Tract, 400.28 feet to a 3-inch metal fence post on corner in the east line of Restricted Reserve "A" of Barker's Landing, Section Four (4); said point also being the northeast corner of the herein described tract of land;

Thence South 02 deg. 46 min. 56 sec. West, along the east line of Restricted Reserve "A", 391.33 feet to a 5/8 inch iron rod found for corner in the south line of Restricted Reserve "A" of Barker's Landing Road, Section Four (4) and in the north line of North Barker's Landing Road, a 60-foot right-of-way width, as recorded in Barker's Landing Section Three, Volume 292, Page 111 of the Harris County Map Records; said point being the southeast corner of the herein described tract of land;

Thence North 87 deg. 13 min. 04 sec. West, along the north line of North Barker's Landing Road and the south line of Restricted Reserve "A", 388.43 feet to a 5/8-inch iron rod for corner; said point being the most southerly southwest corner of the herein described tract of land;

Thence North 42 deg. 13 min. 04 sec. West, along the north line of North Barker's Landing Road and the south line of Restricted Reserve "A", 14.14 feet to the POINT OF BEGINNING and containing 3.403 acres of land, more or less, which property is shown on that certain survey prepared by Tri-Star Surveying, dated October 18, 1996, which survey is incorporated herein by this reference and made a part of this description.

Exhibit B

Intentionally Omitted

Exhibit C

Intentionally Omitted.

Exhibit D-1 through D-6

Sales Deeds

Attached.  

	
		
	NOTE: The form of Special Warranty Deed to be issued by separately by Lakeside I Owner Corp.  and by Lakeside II Owner Corp
	 

	Excise Tax $ 
	Recording Time, Book and Page

Parcel No. ___________________________ 
	
								
	Verified By:
	 
	County on the
	 
	day of
	 
	, 2014

	by
	 

Mail after recording to: Johnston, Allison & Hord, PA, 1065 East Morehead, Charlotte, NC 28204
This instrument was prepared by:  Johnston, Allison & Hord, P.A., (BJS)

	
			
	Brief description for the index 
	Concourse Lakeside [I]/[II]
	 

NORTH CAROLINA SPECIAL WARRANTY DEED
THIS DEED made this ___ day of ________ 2014, by and between

	
		
	GRANTOR 
	GRANTEE

	[Lakeside I Owner Corp. a Delaware corporation (which took title as Lakeside One Owner Corp.)] / [Lakeside II Owner Corp. a Delaware corporation (which took title as Lakeside Two Owner Corp.)]

Address:
c/o Interventure Advisors, LP
810 Seventh Avenue, Suite 3601
New York, NY 10019
	[•]
a [•]company  

Address:
[•]

	Enter in appropriate block for each party: name, address, and, if appropriate, character of entity, e.q. corporation or partnership.

The designation Grantor and Grantee as used herein shall include said parties, their heirs, successors, and assigns, and shall include singular, plural, masculine, feminine or neuter as required by context.

WITNESSETH, that the Grantor, for a valuable consideration paid by the Grantee, the receipt of which is hereby acknowledged, has and by these presents does grant, bargain, sell and convey unto the Grantee in fee simple, all that certain lot or parcel of land situated in Morrisville, Wake County, North Carolina and more particularly described as follows:

See Exhibit “A” attached hereto and incorporated herein by reference. 

. 

The property is not the primary residence of the Grantor (N.C.G.S Section 105-317-2).

The property hereinabove described was acquired by Grantor by instrument recorded in [•]  

A map showing the above described property is recorded in [•]

TO HAVE AND TO HOLD the aforesaid lot or parcel of land and all privileges and appurtenances thereto belonging to the Grantee in fee simple.

Grantor will warrant and defend the title against the lawful claims of all persons claiming by, under or through Grantor, other than the following exceptions:

All such valid and enforceable easements, restrictions and rights of way of record, zoning and subdivision ordinances and the lien of ad valorem taxes for the current year and the permitted exceptions set out in Exhibit B hereto.

IN WITNESS WHEREOF, the Grantor has hereunto set their hand and seal the day and year first above written.

[•[Lakeside I Owner Corp. a Delaware corporation (which took title as Lakeside One Owner Corp.)] / [Lakeside II Owner Corp. a Delaware corporation (which took title as Lakeside Two Owner Corp.)]]

By:_____________________________________
Print Name:______________________________
Title:____________________________________    
                    

                    
State of North Carolina
County of ________________

I, the undersigned Notary Public of the County and State aforesaid, certify that __________________, personally came before me this day and acknowledged that she/he is the _____________ of [•], a Delaware corporation a/k/a Lakeside [One] [Two] Owner Corp., a Delaware corporation and that by authority duly given and as the act of such corporation, he/she signed the foregoing instrument in its name on its behalf as its act and deed. 

Witness my hand and official seal, this the _____ day of ________________, 2014. 

______________________________________
SEAL-STAMP                    Notary Public
Printed Notary Name:_____________________

My Commission Expires:__________________

The foregoing Certificate(s) of                                              
is/are certified to be correct.  This instrument and this certificate are duly registered at the date and time and in the Book and Page shown on the first page hereof.
                                                                           REGISTER OF DEEDS FORM WAKE COUNTY
By                                                                                                                           Deputy/Assistant-Register of Deeds.

EXHIBIT “A”

Legal Description

THIS INSTRUMENT WAS PREPARED BY
AND SHOULD BE RETURNED TO:

Michael A. Ryan, Esquire
Lowndes, Drosdick, Doster, Kantor & Reed, P.A.
Post Office Box 2809
Orlando, FL  32802-2809
(407) 843-4600

    
TAX PARCEL ID. NO.: _________________

SPECIAL WARRANTY DEED

THIS SPECIAL WARRANTY DEED, is made and executed as of the _____ day of ____________________, 2014, by [•], a [Delaware limited liability company], whose address is [810 Seventh Avenue, Suite 3601, New York, NY 1001]9 (hereinafter referred to as the “Grantor”) to [•], a [•], whose address is [•] (hereinafter referred to as the “Grantee”);
W I T N E S S E T H:
That the Grantor, for and in consideration of the sum of TEN DOLLARS ($10.00) and other valuable considerations, the receipt and sufficiency of which are hereby acknowledged by these presents does grant, bargain, sell, alien, remise, release, convey, and confirm unto the Grantee that certain piece, parcel or tract of land situated in [Hillsborough County], Florida more particularly described on EXHIBIT “A” attached hereto and made a part hereof by this reference (hereinafter referred to as the “Subject Property”);
TOGETHER WITH all the tenements, hereditaments, easements and appurtenances, including riparian rights, if any, thereto belonging or in anywise appertaining;
TO HAVE AND TO HOLD the Subject Property in fee simple forever.
AND the Grantor does hereby covenant with and warrant to the Grantee that the Grantor has good right and lawful authority to sell and convey the Subject Property; and that the Grantor will defend the same against the lawful claims of all persons claiming by, through or under the Grantor, but against none other.
THE conveyance made herein, however, is expressly made SUBJECT TO ad valorem real property taxes and assessments for the year 2014 and thereafter, and those exceptions to title set forth in EXHIBIT “B” attached hereto.

IN WITNESS WHEREOF, the Grantor has caused these presents to be executed in manner and form sufficient to bind it as of the day and year first above written.
	
		
	Signed, sealed and delivered in the
presence of the following two (2) witnesses:

______________
Signature of Witness #1
______________
Printed Name of Witness #1

______________
Signature of Witness #2
______________
Printed Name of Witness #2

	GRANTOR:

[•], a [•]

By:__________________________________
Printed Name:_________________________
Title:________________________________

Address:  [810 Seventh Avenue, Suite 3601
    New York, NY 10019]

STATE OF ______________
COUNTY OF ____________

The foregoing instrument was acknowledged before me this _____ day of ___________, 2014, by ________________________________, as ____________ of [•], a [•], on behalf of the company, who o is personally known to me or o has produced ___________________________ as identification.

(NOTARY SEAL)        
______________________________
Notary Public Signature

    
______________________________
(Name typed, printed or stamped)

_____________________________________________________________________________

EXHIBIT “A”
Legal Description of Subject Property
[To Be Inserted from Title Commitment]
_____________________________________________________________________________
EXHIBIT “B”
List of Permitted Exceptions
[To Be Inserted From Title Commitment]

SPECIAL WARRANTY DEED

THIS SPECIAL WARRANTY DEED made and entered into this the ___ day of September, 2014, by and between [•], a Delaware corporation, whose mailing address is c/o Interventure Advisors, LP, 810 Seventh Avenue, Suite 3601, New York, NY 10019 ("Grantor") and [•], a [•], whose mailing address is [•] ("Grantee"), with the in-care of tax mailing address for the current tax year to be in c/o PKY SUSP, LLC, a Delaware limited liability company, whose mailing address is 390 North Orange Ave., Suite 2400, Orlando, Florida 32801.
WITNESSETH:

THAT for and in consideration of the sum of ______________________________  ____________and 00/100 ($__________.00) Dollars, the receipt of which is hereby acknowledged, the Grantor does hereby grant and convey unto the Grantee, in fee simple, its successors and assigns, forever, all of the following property located in [Jefferson  County], Kentucky, and more fully described as follows, to-wit:
[Being all of Tract 1 as shown on plat attached to deed recorded in Deed Book 4692, Page 478, in the office of the Clerk of Court of Jefferson County, Kentucky; said tract being part of Revised Lot 2 of Hurstbourne, Section 5, as shown on “Revision of Lots 1, 2, 3A, 3B, 4, 5, 6A, 6B, 6C, 6D and 6E, Hurstborne, Section 5”, recorded in Plat and Subdivision Book 29, Page 89, said records.
Being the same property conveyed to Paragon Owner Corp., a Delaware corporation, by deed dated August 30, 2005, of record in Deed Book 8690, Page 574, in the Jefferson County Clerk’s Office.]
TO HAVE AND TO HOLD the above property together with all rights, privileges, appurtenances and improvements thereunto belonging unto the Grantee, in fee simple, its successors and assigns, forever and with covenants of Special Warranty; 
AND the Grantor will warrant and forever defend all of its right, title and interest in and to the above property against the claims of all persons  claiming by, through or under the Grantor (but against none other), except for the taxes for 2014 and thereafter, which the Grantee assumes and agrees to pay.
PROVIDED, HOWEVER, there is excepted from the foregoing warranty and covenants of title and this conveyance is made subject to any restrictions, easements and agreements of record in the aforesaid Clerk's Office affecting the subject property and the permitted exceptions set forth in Exhibit A hereto.
The undersigned Grantor and Grantee hereby certify, swear and affirm that the consideration stated herein is the full actual consideration paid for the property transferred herein.  The Grantee signs this deed for the sole purpose of certifying the consideration pursuant to KRS 382.

IN TESTIMONY WHEREOF, the Grantor and Grantee have hereunto set their hands this the day and year first above written.                                                        
                        

GRANTOR:

[•], 
a Delaware corporation

By: ____________________________________
       Print Name:__________________________
                                                                           Title: _______________________________
                        

STATE OF _________________    
COUNTY OF _______________

The foregoing instrument was subscribed, sworn to and acknowledged before me this _______ day of September, 2014, by ___________________, as ________________ of [•], a Delaware corporation, for and on behalf of said corporation.

My Commission Expires:___                              __

{SEAL}                                                
______________________________
Notary Public, State at Large

GRANTEE:

[•], 
a [•]        
                                                                       
By: ____________________________________
       Print Name:__________________________
                                                                           Title: _______________________________

STATE OF _________________    
COUNTY OF _______________

The foregoing instrument was subscribed, sworn to and acknowledged before me this _______ day of September, 2014, by ___________________, as ________________ of [•], a [•], for and on behalf of said company.

My Commission Expires: _____                      _

{SEAL}                    ______________________________
Notary Public, State at Large

Prepared By:

DINSMORE & SHOHL, LLP
200 West Main Street, Suite 1400 
Lexington, Kentucky 40507            

By: __________________________
       Kermin E. Fleming

After recording, return to:
Bilzin Sumberg
Attn: James W. Shindell, Esq.
1450 Biscayne Boulevard, Suite 2300
Miami, Florida 33131

LIMITED WARRANTY DEED

STATE OF _____________    )
) SS:
COUNTY OF ___________    )

THIS INDENTURE, made as of the __ day of _______________, 2014, between [•], a [Delaware corporation] (“Grantor”), and [•], a [Delaware limited liability company] (“Grantee”), whose mailing address is [•], Attention: Jason A. Bates.
WITNESSETH:
That Grantor, for the sum of Ten Dollars ($10.00) and other good and valuable consideration, in hand paid at and before the sealing and delivery of these presents, the receipt and sufficiency of which are hereby acknowledged, has granted, bargained, sold, aliened, conveyed and confirmed and by these presents does grant, bargain, sell, alien, convey and confirm unto Grantee, all of those tracts or parcels of land described on Exhibit A attached hereto and made a part hereof (herein called the “Land”), together with the buildings and improvements thereon (collectively, the “Property”).
TO HAVE AND TO HOLD the said Property, together with all and singular the rights, members, easements and appurtenances thereof, to the same being, belonging or in any wise appertaining to the Land, to the only proper use, benefit and behoof of Grantee, forever, IN FEE SIMPLE.

This Deed and the warranty of title contained herein are made expressly subject to each of the matters set forth in Exhibit B, attached hereto and incorporated herein by reference (collectively, the “Permitted Exceptions”).
Except as to any claims arising from or with respect to the Permitted Exceptions, Grantor will warrant and forever defend the right and title to the Property unto Grantee against the lawful claims of all persons owning, holding or claiming by, through or under Grantor, but not otherwise.
(The words “Grantor” and “Grantee” include all genders, plural and singular, and their respective heirs, successors and assigns where the context requires or permits.)

[signature appears on following page]

IN WITNESS WHEREOF, Grantor has signed and sealed this deed, the day and year first above written.
GRANTOR:

[•], 
a [Delaware corporation]

By:    ______________________,
          ______________________,
its ____________________
		
	Signed, sealed and delivered 
	 

in the presence of:                                                       By:________________________    
Name:_____________________
Title: ______________________    
______________________________
Unofficial Witness
    

_______________________
Notary Public

(NOTARY SEAL)

My Commission Expires:

______________________________

    

NOTICE OF CONFIDENTIALITY RIGHTS:  IF YOU ARE A NATURAL PERSON, YOU MAY REMOVE OR STRIKE ANY OR ALL OF THE FOLLOWING INFORMATION FROM THIS INSTRUMENT BEFORE IT IS FILED FOR RECORD IN THE PUBLIC RECORDS:  YOUR SOCIAL SECURITY NUMBER OR YOUR DRIVER’S LICENSE NUMBER.

SPECIAL WARRANTY DEED

STATE OF TEXAS        §
§    KNOW ALL MEN BY THESE PRESENTS:
COUNTY OF HARRIS    §

THAT [•], a                                             limited partnership ("Grantor"), for and in consideration of the sum of Ten Dollars ($10.00) and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged and confessed, has GRANTED, BARGAINED, SOLD and CONVEYED and by these presents does GRANT, BARGAIN, SELL and CONVEY unto [•], a [•] company ("Grantee"), whose address for the purposes hereof is [•], that certain tract or parcel of land located in [•] County, Texas, and being more particularly described in Exhibit A attached hereto and incorporated herein by this reference for all purposes, together with all and singular the improvements, buildings, structures and fixtures located thereon or attached thereto (all of such land, improvements and property are collectively referred to herein as the "Property"); provided, however, that this conveyance is made and accepted subject to all those certain easements, covenants, restrictions and other matters more particularly described in Exhibit B attached hereto and incorporated herein by this reference for all purposes, to the extent that same are valid and subsisting and affect the Property (the "Permitted Exceptions").

TO HAVE AND TO HOLD the Property, together with all and singular the rights and appurtenances thereto in anywise belonging owned by Grantor unto Grantee, its successors and assigns forever; and Grantor does hereby bind itself, its successors and assigns to WARRANT AND FOREVER DEFEND all and singular the title to the Property unto Grantee, its successors and assigns, against every person whomsoever lawfully claiming or to claim the Property or any part thereof, by, through or under Grantor, but not otherwise; subject, however, to the Permitted Exceptions.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK.
SIGNATURE PAGE FOLLOWS.]

EXECUTED effective as of the _____ day of     , 2014.

GRANTOR:

[•],  a          limited partnership

By:                        
Name:                        
Its:                        

THE STATE OF     §
§
COUNTY OF                §
The foregoing instrument was acknowledged before me this ______ day of ___________ 2014, by             , the             of [•] LP, a          [limited partnership], on behalf of the company.

__________________________________
Notary Public

My commission expires:______________
(SEAL)

After Recording Return To:

            
            
            
            

Exhibit A

Legal Description 

[To be Attached]

Exhibit B

Permitted Exceptions

[To be Attached]

Prepared By and File To:                    Consideration: $___________
Jeffrey P. Geiger, Esquire VSB#72960                Assessed Value:  $__________
Hirschler Fleischer
P.O. Box 500
Richmond, Virginia  23218-0500

Parcel ID. C0011105030

Title Company:  ___________________

SPECIAL WARRANTY DEED
THIS SPECIAL WARRANTY DEED is made and executed as of the ____ day of __________ 2014, by [•], a Delaware corporation (“Grantor”), to [•], a Delaware limited liability company (“Grantee”), having a mailing address of [•], Attention:  Jason A. Bates.
W I T N E S S E T H:
For and in consideration of the sum of TEN DOLLARS ($10.00), cash in hand paid by Grantee to Grantor, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Grantor by these presents does hereby grant, bargain, sell and convey with Special Warranty of Title unto the Grantee in fee simple the real property more particularly described on Exhibit A attached hereto and incorporated herein by reference (the “Property”).
This conveyance is made expressly subject to: (i) ad valorem real estate taxes for the year of the closing and subsequent years not yet a lien on the Property, (ii) all easements and rights of ways, covenants, agreements, restrictions, development agreements, or other matters affecting the Property which are of record in the Clerk’s Office Circuit Court of the City of Richmond, Virginia (iii) all site plans, development plans, zoning ordinances, regulations and any other plans, ordinances or regulations affecting the Property, (iv) all easements, rights of way, encroachments and boundary line disputes and other matters which would be disclosed by an accurate survey or inspection of the Property, (v) rights of way of streets and (vi) those additional permitted exceptions set out on Exhibit A hereto.

IN WITNESS WHEREOF, the Grantor has caused these presents to be executed in manner and form sufficient to bind it as of the day and year first above written.
	
		
	 
	[•], 
a Delaware corporation

By:___________________________________
Name:  ________________________________
Title:  _________________________________

STATE OF  _____________________ )
) 
CITY/COUNTY OF______________  ), to-wit:

The foregoing instrument was acknowledged before me, _________________________, a Notary Public in and for the State of _________________, at Large, this ____ day of __________________, 2014, by  _____________________________, who (i) is personally known to me or (ii) has presented identification of ______________________________ (a United States Passport, a certificate of United States citizenship, a certificate of naturalization, an unexpired foreign passport, an alien registration card with photograph, a state issued driver’s license or a state issued identification card or a United States military card), and voluntarily acknowledged this instrument as _____________________ of [•], a Delaware corporation, on its behalf.  

                    

______________________________
Notary Public

My commission expires:  _________________________
Notary Registration No.   _________________________

Notary Seal (sharp, legible, reproducible)

EXHIBIT A
PROPERTY DESCRIPTION

Exhibit E

Bill of Sale

Attached.  

BILL OF SALE

THIS BILL OF SALE, made this [_____________] day of [_____________] , 2014, by and among the undersigned [Seller] at [Address] (“Owner”) [Purchaser] [Purchaser’s permitted assignee or designee] (“Purchaser”).

W I T N E S S E T H

WHEREAS, pursuant to that certain Purchase and Sale Agreement, dated as of the date hereof, between Owners and Purchaser (the “PSA”), Owners are selling to Purchaser, and Purchaser is purchasing from Owners, certain real property (the “Property”) more particularly described in the PSA.  Capitalized terms not otherwise defined herein shall have the meaning set forth in the PSA.

NOW, THEREFORE, for Ten Dollars ($10.00) and other good and valuable consideration, the receipt and sufficiency whereof is hereby acknowledged, Owners do hereby grant, bargain, sell, transfer, quitclaim and deliver to Purchaser, all of Owners’ right, title and interest, in and to the Personal Property.

TO HAVE AND TO HOLD Owners’ interest in the Personal Property unto Purchaser, its successors and assigns, forever.

OWNERS MAKE NO EXPRESS OR IMPLIED WARRANTY OF ANY KIND WHATSOEVER WITH RESPECT TO THE PERSONAL PROPERTY HEREIN CONVEYED, INCLUDING, BUT NOT LIMITED TO, THE MERCHANTABILITY OF SUCH PROPERTY, ITS FITNESS FOR ANY PARTICULAR PURPOSE, OR ITS CONDITION OR QUALITY. AS TO OWNERS, PURCHASER TAKES SUCH PERSONAL PROPERTY "AS IS", "WHERE IS" AND “WITH ALL FAULTS”. OWNERS SHALL, IN NO EVENT, BE LIABLE TO PURCHASER FOR ANY DIRECT OR INDIRECT, SPECIAL OR CONSEQUENTIAL DAMAGES CAUSED, DIRECTLY OR INDIRECTLY, BY THE PERSONAL PROPERTY BEING CONVEYED OR ANY INADEQUACY THEREOF OR ANY DEFICIENCY OR DEFECT THEREIN. OWNER AND PURCHASER AGREE THAT NOTHING IN THE BILL OF SALE SHALL BE DEEMED TO MODIFY OR AMNED, OR LIMIT ANY RECOURSE UNDER, THE PSA IN ACCORDANCE WITH ITS TERMS.

[NO FURTHER TEXT ON THIS PAGE]

Exhibit F

FIRPTA Certificate

Attached. 

FOREIGN INVESTMENT IN REAL PROPERTY TAX ACT CERTIFICATION
PURSUANT TO SECTION 1445 OF THE INTERNAL REVENUE CODE
Transferor’s Certification of Non-Foreign Status

Section 1445 of the Internal Revenue Code provides that a transferee of a U.S. real property interest must withhold tax if the transferor is a foreign person.  For U.S. tax purposes (including Section 1445), the owner of a disregarded entity (which has legal title to a U.S. real property interest under local law) will be the transferor of the property and not the disregarded entity.  To inform [PKY SUSP, LLC, a Delaware limited liability company] [ANY PERMITTED ASSIGNEE OR DESIGNEE OF PURCHASER] ("Transferee"), that withholding of tax is not required upon the disposition of a U.S. real property interest by [Seller], a [•] [(the "Transferor"), the undersigned hereby certifies the following on behalf of the Transferor:] [that is a disregarded entity as defined in Treasury Regulations § 1.1445-2(b)(2)(iii), the undersigned hereby certifies the following on behalf of [Owner of Seller for U.S. tax purposes], a [•] (the "Transferor") that wholly owns [Seller] for U.S. federal income tax purposes:]

1.    The Transferor is not a foreign corporation, foreign partnership, foreign trust, or foreign estate (as those terms are defined in the Internal Revenue Code and Income Tax Regulations);

2.    The Transferor is not a disregarded entity as defined in Treasury Regulations § 1.1445-2(b)(2)(iii);

3.    The Transferor's U.S. employer identification number is:  [•]; and

4.    The Transferor's office address is:

[•]
[•]
[•]

The Transferor understands that this certification may be disclosed to the Internal Revenue Service by Transferee and that any false statement contained herein could be punished by fine, imprisonment, or both.

Under penalties of perjury, I declare that I have examined this certification and, to the best of my knowledge and belief, it is true, correct, and complete, and I further declare that I have authority to sign this document on behalf of the Transferor.

IN WITNESS WHEREOF, the undersigned, being a duly authorized officer of the Transferor, has executed this certification as of [•].

[Transferor]

By:  __________________________
Name:
Title:

Exhibit G

Intentionally Omitted. 

Exhibit H

Ground Leases

Attached.  

EXHIBIT H
GROUND LEASES

Office Center Lease between Hillsborough County Aviation Authority (as Lessor) and Crescent Resources, Inc., (as Lessee) dated September 9, 1998 (as amended by the First Amendment to Parcel I Office Center Lease between Hillsborough County Aviation Authority (as Lessor) and Crescent Brookdale Associates, LLC (as Lessee) dated November 11, 2002), as assigned by the Ground Lease Assignments dated September 27, 2001 and August 30, 2005.

Parcel II Office Center Lease between Hillsborough County Aviation Authority (as Lessor) and Crescent Resources, Inc., (as Lessee) dated September 13, 2000 (as amended by the First Amendment to Parcel II Office Center Lease between Hillsborough County Aviation Authority (as Lessor) and Crescent Brookdale Associates, LLC (as Lessee) dated March, 2003), as assigned by the Ground Lease Assignments dated December 11, 2002 and August 30, 2005.

Parcel III Office Center Lease between Hillsborough County Aviation Authority (as Lessor) and Crescent Resources, Inc., (as Lessee) dated September 13, 2000 (as amended by the First Amendment to Parcel III Office Center Lease between Hillsborough County Aviation Authority (as Lessor) and Crescent Brookdale Associates, LLC (as Lessee) dated December 6, 2001 and the Second Amendment to Parcel III Office Center Lease between Hillsborough County Aviation Authority (as lessor) and Crescent Resources, LLC (as lessee) dated March 2003),  as assigned by the Ground Lease Assignments dated November 3, 2004 and August 30, 2005.

Exhibit I

Ground Lease Assignment

Attached.  

This instrument was prepared 
by and should be returned to:

Michael A. Ryan, Esq.
Lowndes, Drosdick, Doster, 
Kantor & Reed, P.A.
215 North Eola Drive
Orlando, Florida 32801

ASSIGNMENT AND ASSUMPTION OF GROUND LEASE AND QUITCLAIM OF
IMPROVEMENTS

THIS ASSIGNMENT AND ASSUMPTION OF GROUND LEASE AND QUITCLAIM OF IMPROVEMENTS (this "Assignment") is made as of the ____day of [month], 2014, by [•] ("Assignor"), whose address for purposes of this instrument is __________________________ ______________________________ in favor of [PKY SUSP, LLC, a Delaware limited liability company,] OR [Purchaser's permitted assignee or designee] ("Assignee") whose address for purposes of this instrument is    ______________________________________________________ __________.

W I T N E S S E T H 

WHEREAS, Assignor is party to a certain ground leases, described more particularly on Exhibit A attached hereto (the "Ground Lease"); and
WHEREAS, in connection with the sale and purchase of certain real property (and related assets) pursuant to a purchase and sale agreement between Assignor and Assignee (the "PSA"), (i) Assignor desires to assign its interest as tenant under the Ground Lease to Assignee as of the date of this Assignment, (ii) Assignee desires to assume the obligations of the tenant under the Ground Lease from and after the date of this Assignment and (iii) Assignor desires to quitclaim and assign to Assignee all of Assignor's right, title and interest in and to the building and other fixture improvements located on the leased premises subject to the Ground Lease that are the subject of the Ground Lease.
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound, the parties agree as follows:
1.    Assignor hereby assigns and transfers to Assignee to have and to hold from and after the date hereof, all right, title and interest of the Assignor as lessee in, to and under the Ground Lease and Assignee hereby accepts the within assignment and assumes and agrees to perform and comply with and be bound by, from and after the date hereof, all the terms, covenants, agreements, provisions and conditions of the Ground Lease on the part of the lessee thereunder to be performed from and after the date hereof. This Assignment (including the quitclaim set forth in paragraph 2 below) is subject to any applicable provisions and exclusion in the PSA including, but not limited to, Section 4.2 of the PSA (proration), the Permitted Exceptions (as defined in the PSA) and Section 7.2 of the PSA (disclaimers).
 
2.    Assignor does hereby remise, release, assign and quit-claim to Assignee all right, title, interest, claim and demand of Assignor in and to the buildings, structures and other fixed improvements which are constructed or installed on the leased premises described in the Ground Lease TO HAVE AND TO HOLD the same, together with all and singular the appurtenances thereunto belonging or in anywise appertaining, to the only proper use, benefit and behalf of the Assignee forever.

3.    This Assignment is made without representation, guaranty or warranty by, or recourse to, Assignor (provided that this statement is made without prejudice to the parties rights and obligations pursuant to the PSA). In addition, but without prejudice, to the foregoing sentence, the limitations on liability in Section 12.3.3 of the PSA shall apply to this Assignment mutatis mutandis.

4.    Promptly upon request of the other party, Assignor and Assignee shall each execute, acknowledge (as appropriate) and deliver to the other such further assurances and take such further actions as may be reasonably required to carry out the intent and purpose of the PSA (as it relates to the subject matter of this Assignment) and this Assignment, provided that neither party shall incur any material additional cost, expense or obligation in connection with any act that the other party may request.

5.    This Assignment shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns and shall not be modified except by agreement in writing executed by all the parties hereto.

6.    This Assignment may be executed by one or more parties to this Assignment in any number of counterparts and all said counterparts taken together shall be deemed to constitute one and the same instrument.

7.    THIS ASSIGNMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF FLORIDA.

[Signature Page Follows]

IN WITNESS WHEREOF, Assignor and Assignee have caused this Assignment to be executed as of this _____ day of [•], 2014.
	
		
	WITNESSES:

________________________
Print Name: ______________

________________________
Print Name: ______________

	ASSIGNOR:

______________
a ______________

By:______________
Name:______________
Title:______________

STATE OF ______________
COUNTY OF ____________

The foregoing instrument was acknowledged before me this ______ day of [•] 2014, by _____________________________________, as ___________ of ________________________ _________________, a _________________________________, on behalf of the ___________ _________________________________, who is personally known to me or who produced _________________________________________ as identification.

 (NOTARY SEAL)                _______________________________________
Notary Public Signature

________________________________________
(Name typed, printed or stamped)
Notary Public, State of _____________________        
Commission No.: _____________
My Commission Expires: ______________
                
 

	
		
	

________________________
Print Name: ______________

________________________
Print Name: ______________

	ASSIGNOR:

______________
a ______________

By:______________
Name:______________
Title:______________

STATE OF ______________
COUNTY OF ____________

The foregoing instrument was acknowledged before me this ______ day of [•] 2014, by _____________________________________, as ___________ of ________________________ _________________, a _________________________________, on behalf of the ___________ _________________________________, who is personally known to me or who produced _________________________________________ as identification.

 (NOTARY SEAL)                _______________________________________
Notary Public Signature

________________________________________
(Name typed, printed or stamped)
Notary Public, State of _____________________        
Commission No.: _____________
My Commission Expires: ______________
                
 

 

	
		
	

________________________
Print Name: ______________

________________________
Print Name: ______________

	ASSIGNEE:

[•]

By:______________
Name:______________
Title:______________

STATE OF ______________
COUNTY OF ____________

The foregoing instrument was acknowledged before me this ______ day of [•] 2014, by _____________________________________, as ___________ of [•], a Delaware limited liability company, on behalf of the company, who is personally known to me or who produced _________________________________________ as identification.

 (NOTARY SEAL)                _______________________________________
Notary Public Signature

________________________________________
(Name typed, printed or stamped)
Notary Public, State of _____________________        
Commission No.: _____________
My Commission Expires: ______________
                
 

 

EXHIBIT "A"
Ground Lease

Exhibit J

Assignment of Assigned Property

Attached.  

ASSIGNMENT AND ASSUMPTION OF ASSIGNED PROPERTY

THIS ASSIGNMENT OF ASSIGNED PROPERTY (this "Assignment") is made as of the __ day of [•], 2014, by the undersigned Sellers (collectively "Assignor") in favor of [PKY SUSP, LLC, a Delaware limited liability company] [Purchaser's Permitted Assignee or Designee] ("Assignee"). 

WHEREAS, Assignor and Assignee entered into that certain Purchase and Sale Agreement dated [•], 2014 (the "Agreement"), pursuant to which Assignor has agreed, among other things, to sell, assign, transfer and convey to Assignee the Assets (as defined in the Agreement).  Unless otherwise defined herein, all capitalized terms used in this Assignment shall have the meaning given to such term in the Agreement; and

WHEREAS, in connection with the sale and purchase of the Assets, Assignor has agreed to assign to Assignee, the Assigned Property (as defined below).  

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound, the parties agree as follows: 

1.Assignment.  Assignor hereby transfers, conveys and assigns to Assignee, without representation or warranty of any kind, the entire right, title and interest of Assignor in and to:

		
	a)
	any guarantees, licenses, approvals, certificates, permits, consents, authorizations, variances, development rights, and warranties relating to the Properties to the extent assignable without (x) any third party consent or (y) any cost or liability to Assignors that is not reimbursed or prorated pursuant to the Agreement; 

		
	b)
	the Assumed Service Contracts, if and to the extent transferable without third party consent, or cost or liability to Assignors that is not reimbursed or prorated pursuant to the Agreement; and 

		
	c)
	all Construction Contracts, to the extent assignable,

 (together the items in (a), (b) and (c) above the "Assigned Property"). 

2.Assumption. Assignee hereby assumes the entire right, title and interest of Assignor in and to the Assigned Property as of the date of this Assignment, including all liabilities and obligations of Assignor thereunder.  Assignee shall indemnify, defend and hold Assignor harmless from any claim, liability, cost or expense (including without limitation reasonable attorney’s fees) arising out of the Assigned Property from and after the date of this Assignment.

3.Further Assurances. Promptly upon request of the other party, Assignor and Assignee shall each execute, acknowledge (as appropriate) and deliver to the other such further assurances and take such further actions as may be reasonably required to carry out the intent and purpose of the Agreement (as it relates to the subject matter of this Assignment) and this Assignment, provided that neither party shall incur any material additional cost, expense or obligation in connection with any act that the other party may request.

4.Successors and Assigns. This Assignment shall be binding upon and inure to the benefit of Assignor and Assignee and their respective successors and permitted assigns under the Agreement. This Assignment shall not confer any rights or remedies upon any person other than the Assignor and Assignee.

5.Entire Agreement; Amendments to Assignment. This Assignment (including the recitals to this Assignment, which are incorporated herein) and the Agreement set forth the entire understanding and agreement of the parties hereto, and shall supersede any other agreements and understandings (written or oral) between Assignor and Assignee on or prior to the date hereof with respect to the matters set forth herein. No amendment or modification to any terms of this Assignment, waiver of any covenant obligation, breach or default under this Assignment or termination of this Assignment shall be valid unless in writing and executed and delivered by Assignor and Assignee. This Assignment is made without any covenant, warranty or representation by, or recourse against, Assignor, except as expressly set forth in the Agreement.  In the event of any inconsistency between this Assignment and the Agreement, the terms of the Agreement shall prevail. The limitations on liability in Section 12.3.3 of the Agreement shall apply to this Assignment mutatis mutandis. 

6.Governing Law. This Assignment shall be governed in all respects by the laws of the State of New York.

7.Counterparts. This Assignment may be executed in any number of counterparts, each of which shall be deemed an original and all of which counterparts together shall constitute one agreement with the same effect as if the parties had signed the same signature page.

[Signature Page Follows]

Exhibit K

Letter to Tenants

Attached.

[Seller and Purchaser Addresses]

[•], 2014

		
	Re:
	Lease, dated [__________________], by and between [__________________], as landlord, and [__________________], a [__________________], as tenant (the “Lease”), at Unit/Suite No. [__________] (the “Premises”)    

Dear Tenant:

[•] ("Original Landlord"), has assigned, transferred and conveyed the Lease (and sold and conveyed the Premises) to [•] ("New Landlord"), pursuant to that certain Assignment and Assumption of Leases Agreement, dated [•], 2014, and a Purchase and Sale Agreement, dated [•], 2014.

RENT PAYMENTS:

The undersigned New Landlord hereby directs and authorizes you to make all rental payments and other amounts payable by you pursuant to your lease as follows:

If the payment is made by rent check delivered via regular mail, you shall mail the
rent check to the following address: [•]

If the payment is made by rent check delivered via overnight mail, you shall mail the rent check to the following address, referencing "[•]"  (failure to indicate the account name and number may result in delayed processing of payment): [•]

If the payment is made by wire transfer or ACH, you shall transfer the applicable funds to the following account:

Bank:
Bank Address:
Account Name:
Account No.:
ABA No.:
Contact:

Other than as set out above, rent is due and payable as per the Lease. 

MANAGEMENT TEAM:

Your property management team will, from the date of this letter, consist of [•].

OFFICIAL NOTICES:

Pursuant to the Notice section of the Lease, please accept this letter as notice of change of address for the landlord. Please use the following address for all official correspondence under the Lease:

[•]
Attn: [•]

INSURANCE:

To the extent relevant under your Lease, please provide an updated insurance certificate showing the New Landlord as an additional insured under your applicable insurance policy as set forth in your lease.

Please update your files to include the above information. Thank you in advance for your cooperation and if you have any questions, please call [•] at [•].

*           *           *

[Signatures from Seller and Purchaser]EX-4.1

 Exhibit 4.1 

EXECUTION VERSION 
  

 
 VIOLIN
MEMORY, INC. 
 AS ISSUER 

4.25% CONVERTIBLE SENIOR NOTES DUE 2019 
  

 
 INDENTURE

 DATED AS OF SEPTEMBER 24, 2014 

 
  

WILMINGTON TRUST, NATIONAL ASSOCIATION 

AS TRUSTEE 
  

 
  

 

 TABLE OF CONTENTS 

 

									
	 	 	 	  	 	  	Page	 
		
	 ARTICLE 1 DEFINITIONS AND INCORPORATION BY REFERENCE
	  	 	1	  
				
		 	 Section 1.01
	  	Definitions	  	 	1	  
		 	 Section 1.02
	  	Other Definitions	  	 	12	  
		 	 Section 1.03
	  	Rules of Construction	  	 	13	  
		 	 Section 1.04
	  	Acts of Holders	  	 	14	  
		
	 ARTICLE 2 THE NOTES
	  	 	15	  
				
		 	 Section 2.01
	  	Designation, Amount and Issuance of Notes	  	 	15	  
		 	 Section 2.02
	  	Form of Notes	  	 	15	  
		 	 Section 2.03
	  	Denomination of Notes	  	 	17	  
		 	 Section 2.04
	  	Payments	  	 	17	  
		 	 Section 2.05
	  	Execution and Authentication	  	 	19	  
		 	 Section 2.06
	  	Registrar, Paying Agent and Conversion Agent	  	 	20	  
		 	 Section 2.07
	  	Money and Securities Held in Trust	  	 	22	  
		 	 Section 2.08
	  	Holder Lists	  	 	22	  
		 	 Section 2.09
	  	Transfer and Exchange	  	 	22	  
		 	 Section 2.10
	  	Transfer Restrictions.	  	 	26	  
		 	 Section 2.11
	  	Replacement Notes	  	 	29	  
		 	 Section 2.12
	  	Temporary Notes	  	 	29	  
		 	 Section 2.13
	  	Cancellation	  	 	30	  
		 	 Section 2.14
	  	Outstanding Notes	  	 	30	  
		 	 Section 2.15
	  	Persons Deemed Owners	  	 	30	  
		 	 Section 2.16
	  	Repurchases	  	 	30	  
		 	 Section 2.17
	  	CUSIPs	  	 	30	  
		
	 ARTICLE 3 REPURCHASE AT THE OPTION OF THE HOLDER
	  	 	31	  
				
		 	 Section 3.01
	  	Fundamental Change Permits Holders to Require the Company to Repurchase the Notes	  	 	31	  
		 	 Section 3.02
	  	Fundamental Change Notice	  	 	32	  
		 	 Section 3.03
	  	Fundamental Change Repurchase Notice	  	 	33	  
		 	 Section 3.04
	  	Withdrawal of Fundamental Change Repurchase Notice	  	 	34	  
		 	 Section 3.05
	  	Effect of Fundamental Change Repurchase Notice	  	 	35	  
		 	 Section 3.06
	  	Notes Repurchased in Part	  	 	36	  
		 	 Section 3.07
	  	Covenant to Comply With Securities laws Upon Repurchase of Notes	  	 	36	  
		 	 Section 3.08
	  	Deposit of Fundamental Change Repurchase Price	  	 	36	  
		 	 Section 3.09
	  	Covenant Not to Repurchase Notes Upon Certain Events of Default	  	 	36	  

  
 i 

									
		
	ARTICLE 4 COVENANTS	  	 	37	  
				
		 	 Section 4.01
	  	Payment of Notes.	  	 	37	  
		 	 Section 4.02
	  	144A Information	  	 	37	  
		 	 Section 4.03
	  	Reports	  	 	37	  
		 	 Section 4.04
	  	Additional Interest	  	 	38	  
		 	 Section 4.05
	  	Compliance Certificate	  	 	39	  
		 	 Section 4.06
	  	Restriction on Purchases by the Company and by Affiliates of the Company	  	 	39	  
		 	 Section 4.07
	  	Corporate Existence	  	 	40	  
		 	 Section 4.08
	  	Par Value Limitation.	  	 	40	  
		 	 Section 4.09
	  	Stay, Extension and Usury Laws	  	 	40	  
		 	 Section 4.10
	  	Further Instruments and Acts	  	 	40	  
		 	 Section 4.11
	  	Limitation on Incurrence of Additional Indebtedness	  	 	41	  
		 	 Section 4.12
	  	Liens	  	 	41	  
		
	 ARTICLE 5 CONSOLIDATION, MERGER AND SALE OF ASSETS
	  	 	41	  
				
		 	 Section 5.01
	  	Company May Consolidate, Merge or Sell Its Assets Only on Certain Terms	  	 	41	  
		 	 Section 5.02
	  	Successor Substituted	  	 	42	  
		
	 ARTICLE 6 DEFAULTS AND REMEDIES
	  	 	42	  
				
		 	 Section 6.01
	  	Events of Default	  	 	42	  
		 	 Section 6.02
	  	Acceleration	  	 	44	  
		 	 Section 6.03
	  	Other Remedies	  	 	44	  
		 	 Section 6.04
	  	Sole Remedy for Failure to Report	  	 	45	  
		 	 Section 6.05
	  	Waiver of Past Defaults	  	 	46	  
		 	 Section 6.06
	  	Control by Majority	  	 	46	  
		 	 Section 6.07
	  	Limitation on Suits	  	 	46	  
		 	 Section 6.08
	  	Rights of Holders To Receive Payment	  	 	47	  
		 	 Section 6.09
	  	Collection Suit by Trustee	  	 	47	  
		 	 Section 6.10
	  	Trustee May File Proofs of Claim	  	 	47	  
		 	 Section 6.11
	  	Priorities	  	 	48	  
		 	 Section 6.12
	  	Undertaking for Costs	  	 	48	  
		
	 ARTICLE 7 TRUSTEE
	  	 	48	  
				
		 	 Section 7.01
	  	Duties of Trustee	  	 	48	  
		 	 Section 7.02
	  	Rights of Trustee	  	 	49	  
		 	 Section 7.03
	  	Individual Rights of Trustee	  	 	51	  
		 	 Section 7.04
	  	Trustee’s Disclaimer	  	 	51	  
		 	 Section 7.05
	  	Notice of Defaults	  	 	51	  
		 	 Section 7.06
	  	Compensation and Indemnity	  	 	51	  
		 	 Section 7.07
	  	Replacement of Trustee	  	 	52	  
		 	 Section 7.08
	  	Successor Trustee by Merger	  	 	53	  

  
 ii 

									
		 	Section 7.09	  	Eligibility; Disqualification	  	 	53	  
		 	 Section 7.10
	  	Trustee’s Application for Instructions from the Company	  	 	53	  
		
	 ARTICLE 8 SATISFACTION AND DISCHARGE
	  	 	54	  
				
		 	 Section 8.01
	  	Discharge of Liability on Notes	  	 	54	  
		 	 Section 8.02
	  	Repayment to the Company	  	 	54	  
		
	 ARTICLE 9 AMENDMENTS, SUPPLEMENTS AND WAIVERS
	  	 	55	  
				
		 	 Section 9.01
	  	Without Consent of Holders	  	 	55	  
		 	 Section 9.02
	  	With Consent of Holders	  	 	56	  
		 	 Section 9.03
	  	Execution of Supplemental Indentures	  	 	56	  
		 	 Section 9.04
	  	Notices of Supplemental Indentures	  	 	56	  
		 	 Section 9.05
	  	Effect of Supplemental Indentures	  	 	57	  
		 	 Section 9.06
	  	Revocation and Effect of Consents, Waivers and Actions	  	 	57	  
		 	 Section 9.07
	  	Notation on, or Exchange of, Notes	  	 	57	  
		
	 ARTICLE 10 CONVERSIONS
	  	 	58	  
				
		 	 Section 10.01
	  	Right To Convert	  	 	58	  
		 	 Section 10.02
	  	Conversion Procedures	  	 	60	  
		 	 Section 10.03
	  	Settlement Upon Conversion.	  	 	62	  
		 	 Section 10.04
	  	Common Stock Issued Upon Conversion.	  	 	65	  
		 	 Section 10.05
	  	Adjustment of Conversion Rate	  	 	65	  
		 	 Section 10.06
	  	Voluntary Adjustments	  	 	76	  
		 	 Section 10.07
	  	Adjustments Upon Certain Fundamental Changes	  	 	76	  
		 	 Section 10.08
	  	Effect of Recapitalization, Reclassification, Consolidation, Merger or Sale	  	 	78	  
		 	 Section 10.09
	  	No Responsibility of Trustee or Conversion Agent	  	 	81	  
		
	 ARTICLE 11 REDEMPTION AT THE OPTION OF THE COMPANY
	  	 	82	  
				
		 	 Section 11.01
	  	No Sinking Fund	  	 	82	  
		 	 Section 11.02
	  	Right To Redeem the Notes.	  	 	82	  
		 	 Section 11.03
	  	Redemption Notice.	  	 	82	  
		 	 Section 11.04
	  	Effect of Redemption Notice	  	 	83	  
		 	 Section 11.05
	  	Deposit of Redemption Price	  	 	83	  
		 	 Section 11.06
	  	Effect of Deposit	  	 	84	  
		 	 Section 11.07
	  	Covenant Not to Redeem Notes Upon Certain Events of Default	  	 	84	  
		 	 Section 11.08
	  	Repayment to the Company	  	 	84	  
		
	 ARTICLE 12 MISCELLANEOUS
	  	 	85	  
				
		 	 Section 12.01
	  	Reserved	  	 	85	  
		 	 Section 12.02
	  	Notices	  	 	85	  
		 	 Section 12.03
	  	Certificate and Opinion as to Conditions Precedent	  	 	86	  
		 	 Section 12.04
	  	Statements Required in Certificate or Opinion	  	 	86	  

  
 iii 

									
		 	Section 12.05	  	Separability Clause	  	 	86	  
		 	 Section 12.06
	  	Rules by Trustee	  	 	86	  
		 	 Section 12.07
	  	Governing Law and Waiver of Jury Trial	  	 	86	  
		 	 Section 12.08
	  	No Recourse Against Others	  	 	87	  
		 	 Section 12.09
	  	Calculations	  	 	87	  
		 	 Section 12.10
	  	Successors	  	 	87	  
		 	 Section 12.11
	  	Multiple Originals	  	 	87	  
		 	 Section 12.12
	  	Table of Contents; Headings	  	 	87	  
		 	 Section 12.13
	  	Force Majeure	  	 	88	  
		 	 Section 12.14
	  	Submission to Jurisdiction	  	 	88	  
		 	 Section 12.15
	  	Legal Holidays	  	 	88	  
		 	 Section 12.16
	  	No Security Interest Created	  	 	88	  
		 	 Section 12.17
	  	Benefits of Indenture	  	 	88	  
		 	 Section 12.18
	  	U.S.A. Patriot Act	  	 	88	  
		
	 Form of Note
	  	 	A-1	  
	 Form of Transfer Certificate
	  	 	B-1	  
	 Form of Restricted Stock Legend
	  	 	C-1	  

  
 iv 

 INDENTURE, dated as of September 24, 2014, between Violin Memory, Inc., a Delaware
corporation (“Company”), and Wilmington Trust, National Association, a national banking association, as trustee (“Trustee”). 

Each party agrees as follows for the benefit of the other party and for the equal and ratable benefit of the Holders (as defined below) of the
Company’s 4.25% Convertible Senior Notes due 2019: 
 ARTICLE 1 

DEFINITIONS AND INCORPORATION BY REFERENCE 

Section 1.01 Definitions. 

“Affiliate” of any specified Person means any other Person, directly or indirectly, controlling or controlled by or
under direct or indirect common control with such specified Person. For the purposes of this definition, “control,” when used with respect to any specified Person, means the power to direct or cause the direction of the management
and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the
foregoing. 
 “Applicable Procedures” means, with respect to any transfer or transaction involving a Global
Note or any beneficial interest therein, the rules and procedures of the Depositary for such Note, in each case to the extent applicable to such transfer or transaction and as in effect from time to time. 

“Bankruptcy Law” means Title 11, United States Code, or any similar U.S. federal, state or non-U.S. law for the relief
of debtors. 
 “Bid Solicitation Agent” means the Person who shall solicit and obtain bids for the Trading
Price in accordance with Section 10.01(b)(ii) and the definition of Trading Price set forth herein. The initial Bid Solicitation Agent shall be the Company, and the Company shall have the right to thereafter appoint any other Person to be the
Bid Solicitation Agent without prior notice. 
 “Board of Directors” means the board of directors of the
Company or a committee of such board duly authorized to act for it. 
 “Board Resolution” means a written
copy of one or more resolutions certified by the Secretary or an Assistant Secretary of the Company to have been duly adopted by the Board of Directors and to be in full force and effect on the date of such certification, and delivered to the
Trustee. 
 “Business Day” means any day other than a Saturday, a Sunday or a day on which the Federal
Reserve Bank of New York is authorized or required by law or executive order to close or be closed. 

  
 - 1 - 

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

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

“Common Stock” means the shares of the common stock of the Company, $0.0001 par value per share, or any other shares
of Capital Stock of the Company into which such shares of common stock will be reclassified or changed. 

“Company” means the party named as such in the first paragraph of this Indenture until a successor or assignee
replaces it pursuant to the applicable provisions hereof and, thereafter, means the successor or assignee. 
 “Company
Order” means a written request or order signed in the name of the Company by any Officer. 
 “Consolidated
EBITDA” means, for any period, an amount equal to Consolidated Net Income for such period plus: 
 (a) the following to the
extent deducted in calculating such Consolidated Net Income: 
 (i) Consolidated Interest Charges for such period; 

(ii) the provision for Federal, state, local and foreign taxes based on income, profits or capital (including interest and penalties) payable
by the Company and the Subsidiaries for such period; 
 (iii) depreciation and amortization expense; 

(iv) non-cash expenses and amortization related to the granting of stock appreciation or similar rights, stock options, restricted shares or
restricted stock units pursuant to equity-incentive programs of the Company and the Subsidiaries; 
 (v) other expenses or charges of the
Company and the Subsidiaries reducing such Consolidated Net Income which do not represent a cash item in such period or any future period; 

(vi) any non-recurring charges, costs, fees and expenses directly incurred or paid directly as a result of discontinued operations (other
than such charges, costs, fees and expenses to the extent constituting losses arising from discontinued operations); 
 (vii) restructuring
expenses and charges and any costs, charges, fees and expenses incurred in connection with any acquisition, investment or any non-ordinary course disposition of assets; and 

  
 - 2 - 

 (viii) impairment charges, including the write down of investments, and minus 

(b) the following to the extent included in calculating such Consolidated Net Income: 

(i) federal, state, local and foreign income tax credits of the Company and the Subsidiaries for such period; and 

(ii) all non-cash items increasing Consolidated Net Income for such period. 

In addition, Consolidated EBITDA shall be adjusted on a pro forma basis, as of the first day of any applicable period, for any expenses related to
acquisitions and dispositions of assets by the Company or the Subsidiaries during or subsequent to the applicable period that the Company determines in good faith are outside the ordinary course of business, calculated consistent with GAAP and
Regulation S-X promulgated under the Exchange Act; provided that notwithstanding Regulation S-X, pro forma adjustments may include net operating expense reductions for such period resulting from the transaction or transactions which is being given
pro forma effect that are reasonably expected to be realized in the Company’s good faith judgment within the twelve months following the transaction. 

“Consolidated Funded Indebtedness” means, as of any date of determination, for the Company and the Subsidiaries on a
consolidated basis, the sum of all of the Company’s and the Subsidiaries’ Indebtedness determined on a consolidated basis. 

“Consolidated Interest Charges” means, for any period, for the Company and the Subsidiaries on a consolidated basis,
the sum of (a) all interest, premium payments, debt discount, fees, charges and related expenses of the Company and the Subsidiaries in connection with borrowed money (including capitalized interest) or in connection with the deferred purchase
price of assets, in each case to the extent treated as interest in accordance with GAAP, and (b) the portion of rent expense of the Company and the Subsidiaries with respect to such period under capital leases that is treated as interest in
accordance with GAAP. 
 “Consolidated Leverage Ratio” means, as of any date of determination, the ratio of:
(a) Consolidated Funded Indebtedness as of such date to (b) Consolidated EBITDA for the period of the four consecutive fiscal quarters most recently ended. 

“Consolidated Net Income” means, for any period, the consolidated net income (or loss) of the Company and the
Subsidiaries for such period as determined in accordance with GAAP, adjusted to the extent included in calculating such net income, by excluding, without duplication: 

(a) all extraordinary gains or losses; 

(b) any gain or loss realized as a result of the cumulative effect of a change in accounting principles; 

  
 - 3 - 

 (c) any unrealized gains or losses in respect of hedging obligations (including swap contracts);
and 
 (d) any gains or losses resulting from non-ordinary course dispositions of assets or discontinued operations. 

“Conversion Price” means, at any time, (i) $1,000 divided by (ii) the Conversion Rate
in effect at such time. 
 “Conversion Rate” means, initially, 177.8489 shares of Common Stock per $1,000
principal amount of Notes, subject to adjustment as provided herein. 
 “Corporate Trust Office” means the
corporate trust office of the Trustee at which the trust created by this Indenture will be administered, which office, as of the Issue Date, is located at Wilmington Trust, National Association, Global Corporate Capital Markets, 50 South Sixth
Street, Suite 1290, Minneapolis, MN 55402, Attention: Violin Memory Administrator, and may later be located at such other address as the Trustee, upon delivering notice to the Holders, the Paying Agent, the Conversion Agent, the Registrar and the
Company, designates. 
 “Custodian” means any receiver, trustee, assignee, liquidator, custodian or similar
official under any Bankruptcy Law. 
 “Daily Conversion Value” means, for any Trading Day, (1) the
product of (x) the Conversion Rate on such Trading Day and (y) the Daily VWAP on such Trading Day, divided by (2) forty (40). 

“Daily Settlement Amount” means, with respect to each of the 40 consecutive Trading Days during an Observation Period,
(i) cash equal to the lesser of (x) the Specified Dollar Amount applicable to such conversion, divided by forty (40) (such quotient, the “Daily Measurement Value”); and (y) the Daily
Conversion Value on such Trading Day (the lesser of such preceding clauses (x) and (y), the “Daily Cash Amount”); and (ii) if such Daily Conversion Value exceeds such Daily Measurement Value, a number of shares of Common
Stock (such number, the “Daily Share Amount”) equal to (x) the difference between such Daily Conversion Value and such Daily Measurement Value, divided by (y) the Daily VWAP for such Trading Day.

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

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

  
 - 4 - 

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

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

“DTC” means The Depository Trust Company. 

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

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

“Freely Tradable” means, with respect to any Notes or any shares of the Common Stock issuable upon conversion of the
Notes, that such Notes or such shares of Common Stock, as the case may be, (i) are eligible to be offered, sold or otherwise transferred pursuant to Rule 144 or otherwise by a Person that is not an affiliate (as defined in Rule 144) of the
Company and that has not been an affiliate (as defined in Rule 144) of the Company during the immediately preceding three-month period without any volume or manner of sale restrictions under the Securities Act and, (ii) on and after the Free
Trade Date, (A) in the case of the Notes, do not bear the Restricted Notes Legend and, in the case of shares of the Common Stock, do not bear the Restricted Stock Legend, and (B) with respect to Global Notes only, are identified by an
unrestricted CUSIP number in the facilities of the applicable depositary. 
 “Fundamental Change” means an
event that will be deemed to occur if any of the following occurs: 
 (a) a “person” or “group” within the
meaning of Section 13(d) of the Exchange Act other than the Company or the Subsidiaries files a Schedule TO or any schedule, form or report under the Exchange Act disclosing that such person or group has become the direct or indirect
“beneficial owner” (as defined below) of shares of the Company’s common equity representing more than 50% of the voting power of the Company’s common equity; 

(b) the consummation of: 
 (i)
any sale, lease or other transfer in one transaction or a series of transactions of all or substantially all of the consolidated assets of the Company and the Subsidiaries, taken as a whole, to any person other than one of the Company’s
wholly-owned Subsidiaries; or 
 (ii) any transaction or series of related transactions in connection with which (whether by means of
exchange, liquidation, consolidation, merger, combination, reclassification, recapitalization, acquisition or otherwise) all of the Common Stock is exchanged for, converted into, acquired for, or constitutes solely the right to receive, other
securities, other property, assets or cash, but excluding any merger, consolidation, share exchange or acquisition of the Company with or by another Person pursuant to which the Persons that “beneficially owned” (as defined below),
directly or indirectly, the shares of the Company’s Voting Stock immediately prior to such transaction beneficially own, directly or indirectly, immediately after 

  
 - 5 - 

 
such transaction, shares of the surviving, continuing or acquiring corporation’s Voting Stock representing more than 50% of the total outstanding voting power of all outstanding classes of
Voting Stock of the surviving, continuing or acquiring corporation in substantially the same proportions vis-à-vis each other as immediately prior to such transaction; 

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

(d) the Common Stock (or other common stock or depositary shares or receipts in respect thereof into which the Notes are then convertible,
assuming Physical Settlement) ceases to be listed or quoted on any of The New York Stock Exchange, The NASDAQ Global Market or The NASDAQ Global Select Market (or any of their respective successors). 

A transaction or event described in clause (b) above will not constitute a Fundamental Change, however, if at least 90% of the
consideration received or to be received by the holders of the Common Stock, excluding cash payments for fractional shares or dissenters rights, in connection with the transaction or transactions, consists of shares of common stock or depositary
shares or receipts in respect thereof traded on any of the New York Stock Exchange, The NASDAQ Global Market or The NASDAQ Global Select Market (or any of their respective successors) or which will be so traded or quoted when issued or exchanged in
connection with such transaction or event and as a result of such transaction or event, the Notes become convertible or exchangeable (assuming Physical Settlement) solely into such consideration (excluding cash payable in lieu of any fractional
share) in accordance with Section 10.08 hereof. For the purposes of this definition of “Fundamental Change,” any transaction or event that constitutes a Fundamental Change under both clause (a) and clause (b) above will be
deemed to constitute a Fundamental Change solely under clause (b) of this definition of “Fundamental Change.” 
 For
the purposes of this definition of “Fundamental Change,” whether a person is a “beneficial owner” or whether shares are “beneficially owned” will be determined in accordance with Rule 13d-3 under the
Exchange Act. 
 “GAAP” means generally accepted accounting principles in the United States as in effect on
the date of this Indenture. 
 “Global Note” means a permanent global note that is in the form of the Note
attached hereto as Exhibit A and that is registered in the name of the Depositary or the nominee of the Depositary and deposited with the Depositary, the nominee of the Depositary or a custodian appointed by the Depositary or the nominee of
the Depositary. 
 “Global Notes Legend” means the legend identified as such in Exhibit A hereto.

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

  
 - 6 - 

 “Indebtedness” means, as to any Person at a particular time, without
duplication, all of the following, whether or not included as indebtedness or liabilities in accordance with GAAP: 
 (a) all
obligations of such Person for borrowed money and all obligations of such Person evidenced by bonds, debentures, notes, loan agreements or other similar instruments; and 

(b) all guarantees of such Person in respect of any of the foregoing. 

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

 “Intellectual Property” means all patents, patent rights, licenses, inventions, copyrights, know-how
(including trade secrets and other unpatented and/or unpatentable proprietary or confidential information, systems or procedures), trademarks, service marks, domain names and trade names that the Company and the Subsidiaries own, or is licensed
under, and have the right to use. 
 “Issue Date” means September 24, 2014. 

“Last Original Issue Date” means the last date of original issuance of the Notes, which shall be the last date of
issuance of any additional Notes that the Initial Purchaser purchases pursuant to its option to purchase additional Notes set forth in Section 3(b) of the Purchase Agreement, which date, for the avoidance of doubt, shall be no later than 30
days after the date of the Purchase Agreement; provided, however, that Notes originally issued hereunder pursuant to the Purchase Agreement (or any Notes issued in exchange therefor or in substitution
thereof) shall have a separate Last Original Issue Date (determined as aforesaid) than any other additional Notes originally issued hereunder pursuant to Section 2.01(b) (or any Notes issued in exchange therefor or in substitution thereof).

 “Last Reported Sale Price” of the Common Stock on any date means the closing sale or trading price per share
(or, if no closing sale or trading price is reported, the average of the last bid and ask prices or, if more than one in either case, the average of the average last bid and the average last ask prices) on such date as reported in composite
transactions for the principal U.S. national or regional securities exchange on which the Common Stock is traded. If the Common Stock is not listed for trading on a U.S. national or regional securities exchange on such date, the “Last Reported
Sale Price” of the Common Stock will be the last quoted bid price per share for the Common Stock in the over-the-counter market on such date as reported by OTC Markets Group Inc. or a similar organization. If the Common Stock is not so quoted,
the “Last Reported Sale Price” will be the average of the mid-point of the last bid and ask prices per share for the Common Stock on the relevant date from each of at least three nationally recognized independent investment banking firms
selected by the Company for this purpose. 
 “Lien” means, with respect to any asset, any mortgage, lien,
pledge, charge, security interest or encumbrance of any kind in respect of such asset, whether or not filed, recorded or otherwise perfected under applicable law, including any conditional sale or other title retention agreement, any lease in the
nature thereof, any option or other agreement to sell or give a security interest in and any filing of or agreement to give any financing statement under the Uniform Commercial Code (or equivalent statutes) of any jurisdiction. For purposes of
clarity, a license to Intellectual Property shall not be deemed to be a Lien. 

  
 - 7 - 

 “Market Disruption Event” means, (i) for purposes of determining
whether the Notes will be convertible pursuant to Section 10.01(b), the occurrence or existence during the one-half hour period ending on the scheduled close of trading on the principal U.S. national or regional securities exchange on which the
Common Stock is listed for trading of any material suspension or limitation imposed on trading (by reason of movements in price exceeding limits permitted by the stock exchange or otherwise) in the Common Stock or in any options contracts or future
contracts relating to the Common Stock; and (ii) for purposes of determining any Observation Period, (A) a failure by the primary U.S. national or regional securities exchange or market on which the Common Stock is listed or admitted for
trading to open for trading during its regular trading session or (B) the occurrence or existence prior to 1:00 p.m., New York City time, on any Scheduled Trading Day for the Common Stock for more than one half-hour period in the aggregate
during regular trading hours of any suspension or limitation imposed on trading (by reason of movements in price exceeding limits permitted by the relevant stock exchange or otherwise) in the Common Stock or in any options, contracts or future
contracts relating to the Common Stock. 
 “Notes” means any of the Company’s 4.25% Convertible Senior
Notes due 2019 issued under this Indenture. 
 “Observation Period” means, with respect to any Note
surrendered for conversion, (i) if the Conversion Date for such conversion is before April 1, 2019, the forty (40) consecutive Trading Day period beginning on, and including, the second Trading Day after such Conversion Date; and
(ii) if such Conversion Date occurs on or after April 1, 2019, the forty (40) consecutive Trading Days beginning on, and including, the forty second (42nd) Scheduled Trading Day immediately preceding the Maturity Date.

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

“Officers’ Certificate” means a written certificate containing the information specified in Sections 12.03 and
12.04 hereof, signed in the name of the Company by any two Officers, and delivered to the Trustee; provided, that, if such certificate is given pursuant to Section 4.05 hereof, (i) one of the Officers signing such
certificate must be the principal financial or accounting Officer of the Company and (ii) such certificate need not contain the information specified in Sections 12.03 and 12.04 hereof. 

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

“Opinion of Counsel” means a written opinion containing the information specified in Sections 12.03 and 12.04 hereof,
from legal counsel. The counsel may be an employee of, or counsel to, the Company who is satisfactory to the Trustee. 

“Option” means the option of the Initial Purchasers, pursuant to Section 3(b) of the Purchase Agreement, to
purchase up to $15,000,000 aggregate principal amount of additional Notes from the Company. 

  
 - 8 - 

 “Permitted Debt” means, without duplication, each of the following:

 (a) revolving Indebtedness secured by the Company’s or the Subsidiaries’ accounts receivable and the proceeds thereof
entered into by the Company and/or any of the Subsidiaries in an aggregate principal amount not to exceed $50,000,000 outstanding at any time; 

(b) unsecured Indebtedness incurred by the Company (including the Notes) in an aggregate principal amount not to exceed (when combined with
any Indebtedness incurred under clause (c) of this definition) $150,000,000 outstanding at any time; 
 (c) secured Indebtedness
incurred by the Company secured by a Lien on the Company’s and/or the Subsidiaries’ Intellectual Property in an aggregate principal amount not to exceed (when combined with any Indebtedness incurred under clause (b) of this
definition) $150,000,000 outstanding at any time after giving effect to Section 4.12 (i.e., including the Notes); 
 (d) unsecured
Subordinated Indebtedness incurred by the Company in an aggregate principal amount not to exceed $50,000,000 outstanding at any time; and 

(e) intercompany Indebtedness among the Company and any of the Subsidiaries. 

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

“Preliminary Offering Memorandum” means the Preliminary Offering Memorandum relating to the offering of the Notes
dated September 18, 2014. 
 “Pricing Term Sheet” means the Pricing Term Sheet attached to the Purchase
Agreement as Schedule II thereto. 
 “Purchase Agreement” means the purchase agreement, dated
September 18, 2014, between the Company and Jefferies LLC, as initial purchaser (the “Initial Purchaser”). 

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

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

  
 - 9 - 

 “Scheduled Trading Day” means a day that is scheduled to be a Trading Day
on the principal U.S. national or regional securities exchange or market on which the Common Stock is listed or admitted for trading; provided, however, that if the Common Stock is not so listed or admitted
for trading, then “Scheduled Trading day” means a Business Day. 
 “SEC” means the Securities and
Exchange Commission. 
 “Securities Act” means the Securities Act of 1933, as amended. 

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

“Significant Subsidiary” means any Subsidiary that is a “significant subsidiary” of the Company within the
meaning of Rule 1-02(w) of Regulation S-X promulgated under the Exchange Act. 
 “Specified Dollar Amount”
means, with respect to the conversion of any Note with respect to which Combination Settlement applies, the maximum cash amount per $1,000 principal amount of such Note being converted to be received upon such conversion (excluding cash in lieu of
any fractional share of Common Stock), as specified in the notice specifying the Company’s elected Settlement Method for such conversion or as deemed to be so specified pursuant to Sections 10.03(a)(i)(E) and 10.03(a)(i)(F). 

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

“Subordinated Indebtedness” means (a) any Indebtedness of the Company that is by its terms expressly subordinated
in right of payment to the Notes, and (b) any Indebtedness of any of the Subsidiaries that has expressly guaranteed the payment and performance of the Company’s obligations under the Notes provided such Indebtedness is expressly
subordinated in right of payment to such guarantee, in each case with a scheduled maturity after the 91st day immediately following the Maturity Date. 

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

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

  
 - 10 - 

 “Trading Day” means a day on which (i) trading in the Common Stock
(or other security for which a closing sale price must be determined) generally occurs the New York Stock Exchange or, if the Common Stock (or such other security) is not then listed on the New York Stock Exchange, on the principal other U.S.
national or regional securities exchange on which the Common Stock (or such other security) is then listed or, if the Common Stock (or such other security) is not then listed on a U.S. national or regional securities exchange, on the principal other
market on which the Common Stock (or such other security) is then listed or admitted for trading; (ii) there is no Market Disruption Event; and (iii) a closing price for the Common Stock (or such other security) is available on such
securities exchange; provided, however, that if the Common Stock (or such other security) is not so listed or traded, then “Trading Day” means a Business Day; provided,
further, that, notwithstanding the foregoing, solely for purposes of determining the Conversion Consideration due upon any conversion of a Note, (x) “Trading Day” means a day on which (A) there is no Market
Disruption Event and (B) trading in the Common Stock generally occurs on the New York Stock Exchange or, if the Common Stock is not then listed on the New York Stock Exchange, on the principal other U.S. national or regional securities exchange
on which the Common Stock is then listed or, if the Common Stock is not then listed on a U.S. national or regional securities exchange, on the principal other market on which the Common Stock is then listed or admitted for trading; and (y) if
the Common Stock is not so listed or admitted for trading, “Trading Day” means a Business Day. 
 “Trading
Price” means, with respect to the Notes on any date of determination, the average of the secondary market bid quotations obtained by the Bid Solicitation Agent for $2,000,000 principal amount of Notes at approximately 3:30 p.m., New York
City time, on such determination date from three independent nationally recognized securities dealers selected by the Company; provided, however, that if three such bids cannot reasonably be obtained by the
Bid Solicitation Agent but two such bids are obtained, then the average of the two bids shall be used, and if only one such bid can reasonably be obtained by the Bid Solicitation Agent, that one bid shall be used. If the Bid Solicitation Agent
cannot reasonably obtain at least one bid for $2,000,000 principal amount of the Notes from a nationally recognized securities dealer on any Trading Day, then the Trading Price per $1,000 principal amount of the Notes on such Trading Day will be
deemed to be less than 98% of the product of the Last Reported Sale Price of the Common Stock and the Conversion Rate on such Trading Day. If (x) the Company is not acting as Bid Solicitation Agent, and the Company does not, when the Company is
required to, instruct the Bid Solicitation Agent in writing to obtain bids, or if the Company gives such written instruction to the Bid Solicitation Agent, and the Bid Solicitation Agent fails to make such determination or (y) the Company is
acting as Bid Solicitation Agent, and the Company fails to make such determination, then, in either case, the Trading Price per $1,000 principal amount of Notes will be deemed to be less than 98% of the product of the Last Reported Sale Price of the
Common Stock and the Conversion Rate on each Trading Day of such failure. 
 “Transfer” means, with respect
to any Restricted Note or share of Common Stock that bears, or is required to bear, the Restricted Stock Legend, any sale, pledge, transfer, loan, hypothecation or other disposition of such Restricted Note or share of Common Stock, as the case may
be. 

  
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 “Transfer Agent” means, initially, American Stock Transfer &
Trust Company, LLC, in its capacity as the transfer agent for the Common Stock, and any successor entity acting in such capacity. 

“Trust Officer” means any officer within the corporate trust department of the Trustee (or any successor group of the
Trustee) with direct responsibility for the administration of this Indenture and also means, with respect to a particular corporate trust matter with respect to this Indenture, any other officer of the Trustee to whom such matter is referred because
of his or her knowledge of and familiarity with the particular subject. 
 “Trustee” means the party named as the
“Trustee” in the first paragraph of this Indenture until a successor replaces it pursuant to the applicable provisions of this Indenture and, thereafter, means such successor. The foregoing sentence will likewise apply to any such
subsequent successor or successors. 
 “Uniform Commercial Code” means the New York Uniform Commercial Code as in
effect on the Issue Date. 
 “Voting Stock” of a Person means Capital Stock of such Person of the class or
classes pursuant to which the holders thereof have the general voting power under ordinary circumstances to elect at least a majority of the board of directors, managers or trustees of such Person (irrespective of whether or not at the time Capital
Stock of any other class or classes will have or might have voting power by reason of the happening of any contingency). 

Section 1.02 Other Definitions. 
  

			
	 Term Section:
	  	 Defined in:

	“Act”	  	1.04
	“Additional Interest”	  	4.04(a)
	“Additional Shares”	  	10.07(a)
	“Agent Members”	  	2.02(c)
	“Averaging Period”	  	10.05(e)
	“Cash Settlement”	  	10.03(a)
	“Clause A Distribution”	  	10.05(c)
	“Clause B Distribution”	  	10.05(c)
	“Clause C Distribution”	  	10.05(c)
	“Combination Settlement”	  	10.03(a)
	“Conversion Agent”	  	2.06(a)
	“Conversion Consideration”	  	10.03(a)(iii)
	“Conversion Date”	  	10.02(a)
	“Conversion Notice”	  	10.02(a)
	“Defaulted Amount”	  	2.04(d)
	“Default Interest”	  	2.04(d)
	“Effective Date”	  	10.05(n)
	“Event of Default”	  	6.01(a)
	“Ex-Dividend Date”	  	10.05(n)
	“Expiration Time”	  	10.05(e)

  
 - 12 - 

			
	 Term Section:
	  	 Defined in:

	“Extension Fee”	  	6.04(a)
	“Fundamental Change Notice”	  	3.02(a)
	“Fundamental Change Notice Date”	  	3.02(a)
	“Fundamental Change Repurchase Date”	  	3.01(c)
	“Fundamental Change Repurchase Notice”	  	3.03(a)(A)
	“Fundamental Change Repurchase Price”	  	3.01(b)
	“Interest Payment Date”	  	2.04(a)
	“Make-Whole Fundamental Change”	  	10.07(a)
	“Make-Whole Fundamental Change Effective Date”	  	10.07(b)
	“Maturity Date”	  	2.04(a)
	“Measurement Period”	  	10.01(b)(ii)
	“Multi-Clause Distribution”	  	10.05(c)
	“Paying Agent”	  	2.06(a)
	“Physical Settlement”	  	10.03(a)
	“Redemption”	  	11.02(a)
	“Redemption Date”	  	11.02(c)
	“Redemption Notice”	  	11.03
	“Redemption Notice Date”	  	11.03
	“Redemption Price”	  	11.02(b)
	“Reference Property”	  	10.08(a)
	“Register”	  	2.06(a)
	“Registrar”	  	2.06(a)
	“Regular Record Date”	  	2.04(a)
	“Reorganization Event”	  	5.01
	“Reorganization Successor Corporation”	  	5.01(a)(ii)
	“Reporting Event of Default”	  	6.04(a)
	“Restricted Note”	  	2.10(a)
	“Share Exchange Event”	  	10.08(a)
	“Special Regular Record Date”	  	2.04(d)(i)
	“Spin-Off”	  	10.05(c)
	“Stockholder Approval”	  	10.03(a)(i)
	“Temporary Notes”	  	2.12
	“Trading Price Condition”	  	10.01(b)(ii)
	“Unit of Reference Property”	  	10.08(a)
	“Valuation Period”	  	10.05(c)

 Section 1.03 Rules of Construction. 

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

(2) an accounting term not otherwise defined has the meaning assigned to it and will be construed in accordance with U.S. generally accepted
accounting principles; 
 (3) “or” is not exclusive; 

  
 - 13 - 

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

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

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

(7) unless the context requires otherwise, all references to interest on the Notes (a) will include any Additional Interest payable
pursuant to Section 4.04 hereof and any Extension Fee payable pursuant to Section 6.04 hereof, (b) but, for the avoidance of doubt, will not include any Default Interest payable on a Defaulted Amount pursuant to the terms of
Section 2.04 hereof. 
 Section 1.04 Acts of Holders. Any request, demand, authorization, direction, notice,
consent, waiver or other action provided by this Indenture to be given or taken by Holders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Holders in person or by an agent duly appointed in
writing; and, except as herein otherwise expressly provided, such action will become effective when such instrument or instruments are delivered to the Trustee and to the Company. Such instrument or instruments (and the action embodied therein and
evidenced thereby) are herein sometimes referred to as the “Act” of Holders signing such instrument or instruments. Proof of execution of any such instrument or of a writing appointing any such agent will be sufficient for any
purpose of this Indenture and conclusive in favor of the Trustee and the Company, if made in the manner provided in this Section 1.04. 

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

Any request, demand, authorization, direction, notice, consent, waiver or other Act of the Holder of any Note will bind every future Holder of
the same Note and the Holder of every Note issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof in respect of anything done, omitted or suffered to be done by the Trustee, the Company, the Paying Agent, the
Conversion Agent or the Registrar in reliance thereon, whether or not notation of such action is made upon such Note. 
 If the Company will
solicit from the Holders any request, demand, authorization, direction, notice, consent, waiver or other Act, the Company may, at its option, by or pursuant to a Board Resolution, fix in advance a record date for the determination of Holders
entitled to give such request, demand, authorization, direction, notice, consent, waiver or other Act, but the Company will have no obligation to do so. If such a record date is fixed, such request, demand,

  
 - 14 - 

 
authorization, direction, notice, consent, waiver or other Act may be given before or after such record date, but only the Holders of record at the Close of Business on such record date will be
deemed to be Holders for the purposes of determining whether Holders of the requisite proportion of outstanding Notes have authorized or agreed or consented to such request, demand, authorization, direction, notice, consent, waiver or other Act,
and, for that purpose, the outstanding Notes will be computed as of such record date; provided that no such authorization, agreement or consent by the Holders on such record date will be deemed effective unless it will become effective
pursuant to the provisions of this Indenture not later than six months after the record date. 
 ARTICLE 2 

THE NOTES 

Section 2.01 Designation, Amount and Issuance of Notes. 

(a) The Notes will be designated as “4.25% Convertible Senior Notes due 2019.” The initial aggregate principal amount of Notes to be
issued, authenticated and delivered on the Issue Date under this Indenture is $105,000,000. From time to time, the Company may issue and execute, and the Trustee may authenticate, Notes delivered upon registration of transfer of, or in exchange for,
or in lieu of, other Notes pursuant to Sections 2.09, 2.11, 2.12, 3.06 and 10.02 hereof. In addition, the Company may issue an unlimited aggregate principal amount of additional Notes in accordance with clause (b) of this Section 2.01.

 (b) Without the consent of any Holder, and notwithstanding anything to the contrary in Sections 2.01(a) or 2.05 hereof, the
Company may increase the aggregate principal amount of the Notes issued under this Indenture by reopening this Indenture and issuing additional Notes with the same terms as the initial Notes (except, to the extent applicable, with respect to the
issue price, the date as of which interest shall begin to accrue on such additional Notes and as to the Last Original Issue Date with respect to such additional Notes as provided in the proviso to the definition thereof), which Notes will, subject
to the foregoing, be considered to be part of the same series of Notes as those initially issued hereunder; provided, however, that if any such additional Notes are not fungible with other Notes issued hereunder for federal income tax
purposes, then such additional Notes shall have a separate CUSIP number. Prior to issuing any such additional Notes, the Company will deliver to the Trustee a Company Order, an Officers’ Certificate and an Opinion of Counsel, which
Officers’ Certificate and Opinion of Counsel will address any matters required to be addressed under Section 12.04 hereof. 

Section 2.02 Form of Notes. 

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

  
 - 15 - 

 Each Note will bear a Trustee’s certificate of authentication substantially in the form set
forth in Exhibit A hereto. 
 Notes that are Global Notes will bear the Global Notes Legend and the “Schedule of Increases and
Decreases of Global Note” attached thereto. 
 Notes that are Restricted Notes will bear the Restricted Notes Legend. 

The terms and provisions contained in the Notes will constitute, and are hereby expressly made, a part of this Indenture and, to the extent
applicable, the Company and the Trustee, by their execution and delivery of this Indenture, expressly agree to such terms and provisions and to be bound thereby. However, to the extent that any provision of any Note conflicts with the express
provisions of this Indenture, the provisions of this Indenture will govern and control. 
 (b) Initial and Subsequent Notes.
The Notes initially will be issued in global form, registered in the name of Cede & Co., as the nominee of the Depositary, and deposited with the Trustee, as custodian for the Depositary. Except to the extent provided in
Section 2.09(c) hereof, all Notes will be represented by one or more Global Notes. 
 (c) Global Notes. Each
Global Note will represent the aggregate principal amount of then outstanding Notes endorsed thereon and provide that it represents such aggregate principal amount of then outstanding Notes, which aggregate principal amount may, from time to time,
be reduced or increased to reflect transfers, exchanges, conversions, redemptions or repurchases by the Company. 
 Only the Trustee,
or the custodian holding such Global Note for the Depositary, at the direction of the Trustee, may endorse a Global Note to reflect the amount of any increase or decrease in the aggregate principal amount of then outstanding Notes represented
thereby, and whenever the Holder of a Global Note delivers instructions to the Trustee to increase or decrease the aggregate principal amount of then outstanding Notes represented by a Global Note in accordance with Section 2.09 hereof, the
Trustee, or the custodian holding such Global Note for the Depositary, at the direction of the Trustee, will endorse such Global Note to reflect such increase or decrease in the aggregate principal amount of then outstanding Notes represented
thereby. None of the Trustee, the Company or any agent of the Trustee or the Company will have any responsibility or bear any liability for any aspect of the records relating to, or payments made on account of, the ownership of any beneficial
interest in a Global Note or with respect to maintaining, supervising or reviewing any records relating to such beneficial interest. 

Neither any member of, or participant in, the Depositary (collectively, the “Agent Members”) nor any other Person on
whose behalf an Agent Member may act will have any rights under this Indenture with respect to any Global Note or under such Global Note, and the Company, the Trustee and any agent of the Company or the Trustee, may, for all purposes, treat the
Depositary, or its nominee, if any, as the absolute owner and Holder of such Global Note. 
 The Holder of a Global Note may grant
proxies and otherwise authorize any Person, including Agent Members and Persons that may hold interests through Agent Members, to take any action that such Holder is entitled to take under this Indenture or the Notes with respect to such Global
Note, and, notwithstanding the foregoing, nothing herein will prevent the Company, 

  
 - 16 - 

 
the Trustee, the Paying Agent or any agent of the Company, the Trustee or the Paying Agent from giving effect to any written certification, proxy or other authorization furnished by such Holder
or impair, as between the Depositary, its Agent Members and any other Person on whose behalf an Agent Member may act, the operation of their respective customary practices governing the exercise of the rights of a Holder of any interest in any
Global Note. 
 Section 2.03 Denomination of Notes. The Notes will be issuable in registered form without coupons in minimum
denominations of $1,000 principal amount and in integral multiples of $1,000 in excess thereof. 
 Section 2.04 Payments. 

(a) General. 
 (i)
Payment at Maturity. Unless earlier paid or deemed paid pursuant to any of Sections 3.05, 10.03 or 11.06 hereof, the Notes will mature on October 1, 2019 (the “Maturity Date”) and, on the Maturity Date, the
Company will pay each Holder of Notes $1,000 in cash for each $1,000 principal amount of Notes held, together with accrued and unpaid interest to, but not including, the Maturity Date on such Notes. 

(ii) Payment of Interest. Each Note will accrue interest at a rate equal to 4.25% per annum from the most recent date to
which interest has been paid or duly provided for, or, if no interest has been paid or duly provided for, the Issue Date (or such other date provided for in Section 2.01(b) with respect to Notes issued in accordance with such Section) until,
subject to the provisions of clause (d) of this Section 2.04, the date the principal amount of such Note is paid or deemed paid, as the case may be, pursuant to clause (i) of this Section 2.04(a) or any of Sections 3.05, 10.03 or
11.06 hereof. 
 Interest will be payable semi-annually in arrears on April 1 and October 1 of each year (each, an
“Interest Payment Date”), beginning April 1, 2015, to the Holder of each such Note as of the Close of Business on the March 15 and September 15, as the case may be, and whether or not on a Business Day, immediately
preceding the applicable Interest Payment Date (each such date, a “Regular Record Date”), regardless of whether such Note is converted, repurchased or redeemed after such Regular Record Date. Interest will be computed on the basis
of a 360-day year comprised of twelve 30-day months and, for partial months, on the basis of the number of days actually elapsed in a 30-day month. 

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

The Company will pay, or cause the Paying Agent to pay, the principal of, the Fundamental Change Repurchase Price or Redemption Price for, and
any interest due on the Maturity Date on, any Definitive Note in cash to the applicable Holder of such Note at the office of the Paying Agent on the relevant payment date. 

  
 - 17 - 

 The Company will pay, or cause the Paying Agent to pay, interest due, on an Interest Payment
Date, on any Definitive Note (except interest due on the Maturity Date) to the applicable Holder of such Note (i) if such Holder holds $5,000,000 or less aggregate principal amount of Notes, by check mailed to such Holder’s registered
address, and (ii) if such Holder holds more than $5,000,000 aggregate principal amount of Notes, (A) by check mailed to such Holder’s registered address or (B) if such Holder delivers, not later than the Regular Record Date
relating to such Interest Payment Date, a written request to the Registrar that the Company make such payments by wire transfer to an account of such Holder within the United States, by wire transfer of immediately available funds to such account,
which request shall remain in effect until such Holder notifies, in writing, the Registrar to the contrary. 
 (b) Interest Rights
Preserved. Subject to the provisions of Section 2.04(d) hereof, and, to the extent applicable, Sections 2.09 and 2.11 hereof, each Note delivered under this Indenture upon registration of transfer of, or in exchange for, or in lieu of, any
other Note will carry any rights to the payment and accrual of interest that were carried by the relevant surrendered Note, Notes, or portion(s) thereof. 

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

(d) Defaulted Amounts. Whenever any amount payable on a Note (including, the principal of, the Fundamental Change Repurchase
Price or Redemption Price for, and interest on, such Note) has become due and payable, but the Company fails to punctually pay or duly provide for such amount (any such amount, a “Defaulted Amount”), such Defaulted
Amount will forthwith cease to be payable to the Holder of such Note on the relevant payment date by virtue of its having been due such payment on such payment date, but will instead, to the extent permitted under applicable law, accrue interest
(“Default Interest”) at a rate equal to 4.25% per annum from, and including, such payment date and to, but excluding, the date on which such Defaulted Amount is paid by the Company in accordance with either clause
(i) or (ii) below. 
 (i) The Company may elect to pay any Defaulted Amount and Default Interest on such Defaulted Amount
to the Persons in whose names the Notes (or their respective predecessor Notes) are registered at the Close of Business on a special record date for the payment of such Defaulted Amount and Default Interest (a “Special Regular Record
Date”) fixed in accordance with the following procedures: 
 (A) At least 25 days (or such lesser period as
to which the Trustee may agree) before the date on which the Company proposes to pay such Defaulted Amounts and Default Interest thereon, the Company will deliver to the Trustee written notice of (I) the proposed payment date for such Defaulted
Amounts and Default Interest thereon and (II) the aggregate amount of such Defaulted Amounts and Default Interest thereon. 

  
 - 18 - 

 (B) Simultaneously with delivering such notice to the Trustee, the Company will
either (I) deposit with the Trustee an amount of money, in immediately available funds, equal to the aggregate amount of such Defaulted Amounts and Default Interest thereon, or (II) take other actions that the Trustee deems satisfactory to
ensure that an amount of money, in immediately available funds, equal to the aggregate of such Defaulted Amounts and Default Interest thereon will be deposited with the Trustee by 11:00 a.m., New York City time, on or prior to the proposed payment
date, and in either case, upon receipt of such money, the Trustee will hold such money in trust for the benefit of the Persons entitled to such Defaulted Amounts and Default Interest pursuant to this Section 2.04(d)(i). 

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

(D) After such notice has been delivered by the Trustee, such Defaulted Amounts and Default Interest thereon will be paid to
the Persons in whose names the Notes (or their respective predecessor Notes) are registered at the Close of Business on the Special Regular Record Date specified in such notice and such Defaulted Amounts and Default Interest thereon will no longer
be payable pursuant to the following clause (ii) of this Section 2.04(d)(i). 
 (ii) The Company may pay any Defaulted Amounts and
Default Interest on such Defaulted Amounts in any other lawful manner that is not inconsistent with the requirements of any securities exchange or automated quotation system on which the Notes are then listed (or, if applicable, have been approved
for listing) or designated for issuance, and upon such notice as may be required by such exchange or automated quotation system, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of
payment will be deemed practicable by the Trustee. 
 Section 2.05 Execution and Authentication. 

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

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

  
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 (c) Authentication. A Note will be deemed authenticated when an authorized
signatory of the Trustee manually signs the certificate of authentication on such Note. An authorized signatory of the Trustee will manually sign the certificate of authentication on a Note only if (i) the Company delivers such Note to the
Trustee, (ii) such Note is validly executed by the Company in accordance with Section 2.05(b) hereof, and (iii) the Company delivers, before or with such Note, a Company Order setting forth (A) a request that the Trustee
authenticate such Note; (B) the principal amount of such Note; (C) the name of the Holder of such Note, (D) the date on which such Note is to be authenticated; and (E) any insertions, omissions or other variations, notations,
legends or endorsements permitted under Section 2.02 hereof and applicable to such Note. If the Company Order also specifies that the Trustee must deliver such Note to the Holder or the Depositary, the Trustee will promptly deliver such Note in
accordance with such Company Order. 
 The Trustee may appoint an authenticating agent. If the Trustee appoints an authenticating
agent and such authenticating agent is reasonably acceptable to the Company, such authenticating agent may authenticate a Note whenever the Trustee may authenticate such Note. For purposes of this provision, each reference in this Indenture to
authentication by the Trustee will be deemed to include authentication by an authenticating agent, and an authenticating agent will have the same rights to deal with the Company as the Trustee would have if it were performing the duties that the
authentication agent was validly appointed to undertake. 
 Section 2.06 Registrar, Paying Agent and Conversion Agent. 

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

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

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

  
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to this Indenture. The term Paying Agent includes any additional paying agent named pursuant to this Indenture. The term Conversion Agent includes any additional conversion agent named pursuant
to this Indenture. Upon the occurrence of any Event of Default under Section 6.01(a)(ix) or 6.01(a)(x) with respect to the Company, the Trustee shall be the Paying Agent. 

(b) Initial Designations. The Company initially appoints the Trustee as each of the Registrar, the Paying Agent, Conversion
Agent, and the Notes initially may be presented for registration of transfer or for exchange, payment, repurchase, redemption and conversion to the Trustee, in its capacity as the Registrar, Paying Agent or Conversion Agent, as the case may be, at
the Corporate Trust Office. Notices and demands to, or upon, the Company with respect to the Notes and this Indenture may be served at the office of the Company identified in Section 12.02.  

(c) Removal, Resignation and Replacement. The Company may remove any Registrar, Paying Agent or Conversion Agent by delivering
written notice to the Trustee and to such Registrar, Paying Agent or Conversion Agent; provided, however, that no such removal will become effective unless (i) after such removal, at least one Registrar, Paying Agent and
Conversion Agent will remain; (ii) a successor has accepted appointment as Registrar, Paying Agent or Conversion Agent, as the case may be, the Company and such successor have entered into an agency agreement in accordance with
Section 2.06(a) hereof, and the Company has delivered written notice of such appointment and a copy of such agency agreement to the Trustee, or (iii) the Company has delivered written notice to the Trustee that the Trustee will serve as
the successor Registrar, Paying Agent or Conversion Agent, as the case may be, in accordance with Section 2.06(d) hereof; and provided, further, that the right to effect any such change or removal in no way relieves the Company of
its obligation to maintain a Registrar, Paying Agent and Conversion Agent in the continental United States. The Company may also change the place where notices and demands to, or upon, the Company with respect to the Notes and this Indenture may be
served, or reduce the number of such places; provided, however, that the right to effect any such change or reduction in no way relieves the Company of its obligation to maintain a place in the continental United States where notices
and demands to, or upon, the Company with respect to the Notes and this Indenture may be served. 
 In addition, the
Registrar, Paying Agent or Conversion Agent may resign at any time by delivering written notice of such resignation to each of the Company and the Trustee; provided, however, that if the Trustee is serving as Registrar, Paying Agent or
Conversion Agent, the Trustee may resign from such capacity only if it also resigns as Trustee in accordance with Section 7.07 hereof. If, after any such resignation, at least one Registrar, Paying Agent and Conversion Agent does not remain,
the Trustee will immediately be deemed to serve such empty office or agency in accordance with Section 2.06(d) hereof. 

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

  
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 (e) Notices. Promptly upon the effectiveness of any removal or appointment of a
Registrar, Paying Agent or Conversion Agent, or upon any change in the location of the office of any Registrar, Paying Agent or Conversion Agent, or of the place where notices and demands to, or upon, the Company with respect to the Notes and this
Indenture may be served, the Company will deliver to each Holder notice of such removal, appointment or change in location, as the case may be, which notice will include a brief description of the removal, appointment or change in location, as the
case may be, and list the name and address of each continuing (and newly appointed, if applicable) Registrar, Paying Agent and Conversion Agent and place where notices and demands to, or upon, the Company with respect to the Notes and this Indenture
may be served. 
 Section 2.07 Money and Securities Held in Trust. 

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

The Company will require that each Paying Agent (other than the Trustee, if the Trustee is a Paying Agent) agree in writing that it will
(i) segregate all money and securities it holds for making payments with respect to the Notes; (ii) hold such money and securities in trust for the benefit of Holders; and (iii) notify the Trustee, in writing, as promptly as
practicable, if the Company defaults in making any payment on the Notes. 
 If any such default has occurred and is continuing, the Paying
Agent will, upon receiving a written request from the Trustee, promptly pay to the Trustee all of the money and securities it holds in trust. In addition, at any time, the Company may require a Paying Agent to pay all money and securities that it
holds for making payments with respect to the Notes to the Trustee and to account for any money and securities it has disbursed. After delivering all of such money and securities to the Trustee pursuant to this Section 2.07, the Paying Agent
(in its capacity as such) will have no further liability for such money and securities. 
 Section 2.08 Holder Lists. 

The Trustee will preserve in as current a form as is reasonably practicable the most recent list available to it of the names and addresses of
Holders. If the Trustee is not the Registrar, the Company will furnish to the Trustee, (i) within five Business Days after each Regular Record Date, a list of the names and addresses of Holders as of such Regular Record Date, and (ii) at
such other times as the Trustee may request in writing, within 30 days after receipt by the Company of such request, a list of the names and addresses of Holders as of no more than 15 days immediately prior to the date such list is furnished, in
each case, in such form as the Trustee may reasonably require. 
 Section 2.09 Transfer and Exchange. 

(a) Provisions Applicable to All Transfers and Exchanges. 

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

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

(iii) No service charge will be imposed on any Holder of a Definitive Note or any owner of a beneficial interest in a Global Note for any
exchange or registration of transfer, but each of the Company, the Trustee or the Registrar may require such Holder or owner of a beneficial interest to pay a sum sufficient to cover any transfer tax, assessment or other governmental charge imposed
in connection with such registration of transfer or exchange. 
 (iv) Unless the Company specifies otherwise, none of the Company, the
Trustee, the Registrar or any co-registrar will be required to exchange or register a transfer of any Note (i) surrendered for conversion, except to the extent that any portion of such Note has not been surrendered for conversion,
(ii) subject to a Fundamental Change Repurchase Notice validly delivered pursuant to Section 3.03 hereof, except to the extent any portion of such Note is not subject to a Fundamental Change Repurchase Notice or the Company fails to pay
the applicable Fundamental Change Repurchase Price when due, or (iii) after the Company has delivered a Redemption Notice pursuant to Section 11.03 hereof, except to the extent the Company fails to pay the applicable Redemption Price when
due. 
 (v) Nothwithstanding anything to the contrary herein, the Trustee will have no obligation or duty to monitor, determine or inquire
as to compliance with any restrictions on Transfer imposed under this Indenture or under applicable law with respect to any transfer of any interest in any Note (including any transfers between or among Depositary participants or beneficial owners
of interests in any Global Note) other than to require delivery of such transfer certificates (in the form attached hereto as Exhibit B) as are expressly required by, and to do so if and when expressly required by the terms of this Indenture, and to
examine the same to determine substantial compliance as to form with the express requirements hereof. 
 (b) In General; Transfer
and Exchange of Beneficial Interests in Global Notes. So long as the Notes are eligible for book-entry settlement with the Depositary (unless otherwise required by law and except to the extent required by Section 2.09(c) hereof):

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

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

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

  
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 (c) Transfer and Exchange of Global Notes. 

(i) Notwithstanding any other provision of this Indenture, each Global Note will be exchanged for Definitive Notes if the Depositary delivers
written notice to the Company that: 
 (I) the Depositary is unwilling or unable to continue to act as Depositary; or 

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

and, in each case, the Company promptly delivers a copy of such notice to the Trustee and the Company fails to appoint a successor Depositary within 90 days
after receiving notice from the Depositary. 
 In each such case, (1) each Global Note will be deemed surrendered to the Trustee for
cancellation, (2) the Trustee will promptly cancel each such Global Note in accordance with the Applicable Procedures, (3) the Company, (x) in accordance with Section 2.05 hereof, will promptly execute, for each beneficial
interest in each Global Note so cancelled, an aggregate principal amount of Definitive Notes equal to the aggregate principal amount of such beneficial interest, registered in such name and authorized denominations as the Depositary specifies in
writing, and bearing such legends as such Definitive Notes are required to bear under Section 2.02 and Section 2.10 hereof, and, (y) as provided in Section 2.05(c) hereof, will promptly deliver to the Trustee such Definitive
Notes and a Company Order including the information specified in Section 2.05(c) hereof with respect to such Definitive Notes, and (4) the Trustee, upon receipt of such Definitive Notes and such Company Order, in accordance with
Section 2.05 hereof, will promptly authenticate, and deliver to the Holder specified in such Company Order, such Definitive Notes. 

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

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

In each case, (1) upon receipt of such request, the Registrar will promptly deliver written notice of such request to the Company and the
Trustee, which notice must identify the owner of the beneficial interest to be exchanged, the aggregate principal amount of such beneficial interest and the CUSIP number of the relevant Global Note; (2) the Trustee, upon receipt of such notice,

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

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

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

  
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to be exchanged), and bearing a unique registration number not contemporaneously outstanding and such legends as such Definitive Note is required to bear under Sections 2.02 and 2.10 hereof, and
(y) as provided in Section 2.05(c) hereof, will promptly deliver to the Trustee each such Definitive Note and a Company Order including the information specified in Section 2.05(c) with respect to each such Definitive Note, and
(2) the Trustee, upon receipt of each such Definitive Note and such Company Order, will promptly, in accordance with Section 2.05 hereof, authenticate, and deliver to the Holder specified in such Company Order, each such Definitive Note.

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

(i) General. Each Note (and every security issued in exchange therefor or substitution thereof, except any shares
of Common Stock issued upon conversion thereof, which may bear the Restricted Stock Legend) that bears, or that is required under this Section 2.10 to bear, the Restricted Notes Legend will be deemed a “Restricted Note,” and
will be subject to the restrictions on Transfer set forth in this Indenture (including in the Restricted Notes Legend)  

  
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unless such restrictions on Transfer are eliminated or otherwise waived by written consent of the Company, and each Holder of a Restricted Note, by such Holder’s acceptance of such
Restricted Note, will be deemed to be bound by the restrictions on Transfer applicable to such Note. 
 (ii) When
Restrictions Apply. Except as provided elsewhere in this Indenture (including clause (iii) of this Section 2.10(a)), until the Free Trade Date of a Note, every certificate evidencing such Note (and every security issued in exchange
therefor or substitution thereof, except any shares of Common Stock issued upon the conversion thereof, which may be required to bear the Restricted Stock Legend) will bear the Restricted Notes Legend unless: 

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

(B) such Note is being Transferred to a person (other than (x) the Company or (y) an affiliate (as defined in Rule
144) of the Company) pursuant to an available exemption from the registration requirements of the Securities Act (including Rule 144) and, after such Transfer, such Note will no longer constitute “a restricted security” (within the meaning
of Rule 144), 
 and, in case (B), the Holder effecting such Transfer delivers to the Trustee, the Company and the Registrar any documents or evidence
required pursuant to the Restricted Notes Legend or this Indenture (including, in the case of Definitive Notes, clause (iii) of this Section 2.10(a)). 

(iii) Termination of Transfer Restrictions. 

(I) Except as otherwise provided in this Indenture (including clause (II) of this Section 2.10(a)(iii)) or as permitted under the terms
of the Restricted Notes Legend, if a Holder requests that the Company remove the Restricted Notes Legend from a Definitive Note that is a Restricted Note, the Restricted Notes Legend will not be removed from such Restricted Note unless such Holder
delivers, (1) to each of the Company and the Registrar a transfer certificate in the form attached as Exhibit B hereto and, (2) to each of the Company, the Registrar and the Trustee, any evidence that each of the Company, the
Registrar and the Trustee, as the case may be, reasonably require, that (x) neither the Restricted Notes Legend nor the Transfer restrictions set forth therein are required to ensure that Transfers of such Restricted Note will comply with
applicable law and (y) after such Transfer, such Restricted Note will not be a “restricted security” (within the meaning of Rule 144); provided, however, that, upon provision of such required transfer certificate and
evidence, the Company will permit such Restricted Note to be exchanged in accordance with Section 2.09(d)(ii) hereof for one or more new Definitive Notes that do not bear the Restricted Notes Legend. In addition, upon receipt by the Trustee and
the Registrar of a Company Order specifying that a Note need not bear the Restricted Notes Legend to comply with applicable law, each of the Trustee and the Registrar will permit such Note to be exchanged in accordance with Section 2.09(d)(ii)
hereof for one or more new Definitive Notes that do not bear the Restricted Notes Legend. 

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

(1) providing written notice to the Trustee and the Registrar that the Free Trade Date has occurred and instructing the Trustee to remove the
Restricted Notes Legend from such Global Notes or to deem the Restricted Notes Legend removed; 
 (2) providing written notice to each
owner of a beneficial interest in any of such Global Notes, which notice will state that the Restricted Notes Legend has been removed or has been deemed removed from the applicable Global Note and include the unrestricted CUSIP that will thereafter
apply to such applicable Global Note; 
 (3) providing written notice to the Trustee and the Depositary that the CUSIP number for each such
Global Note will be changed to an unrestricted CUSIP number, which unrestricted CUSIP number will be listed in such notice; 
 (4)
complying with any Applicable Procedures for legend removal; and 
 (5) providing written notice to the Transfer Agent that the Free Trade
Date has occurred, 
 whereupon the Restricted Notes Legend will be deemed removed from such Global Notes. 

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

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

(A) such shares of Common Stock are being issued to a person (other than (x) the Company or (y) an affiliate (as
defined in Rule 144) of the Company) pursuant to a registration statement that is effective under the Securities Act at the time of such issuance; 

(B) such shares of Common Stock are being issued to a person (other than (x) the Company or (y) an affiliate (as
defined in Rule 144) of the Company) pursuant to an available exemption from the registration requirements of the Securities Act such that, upon issuance, such shares of Common Stock will not constitute “restricted securities” (within the
meaning of Rule 144); or 
 (C) the Company delivers written notice to the Transfer Agent stating that the certificate
representing such shares of Common Stock need not bear the Restricted Stock Legend to comply with applicable law. 

  
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 Section 2.11 Replacement Notes. 

If (a)(i) a mutilated Note is surrendered to the Registrar or (ii) the Holder of a Note claims that such Note has been lost, destroyed or
stolen and provides the Company and the Trustee with (A) evidence of such loss, theft or destruction that is reasonably satisfactory to the Company and the Trustee and (B) any amount or kind of security or indemnity that either of the
Company or the Trustee request to protect itself from any loss that it may suffer upon replacement of such Note, and, in either case, (b) such Holder satisfies any other reasonable requirements of the Trustee, including the payment of any tax
or other governmental charge that may be imposed in connection with the replacement of such Note, then, unless the Company or the Trustee receives notice that such Note has been acquired by a bona fide purchaser, the Company will, in accordance with
Section 2.05 hereof, promptly execute and deliver to the Trustee, and the Trustee, upon receipt of a Company Order, in accordance with Section 2.05 hereof, and the documents required by Sections 12.03 and 12.04 hereof, will promptly
authenticate and deliver, in the name of such Holder, a replacement Note having the same aggregate principal amount as the Note that was mutilated or claimed to be lost, destroyed or stolen, bearing any restrictive legends required by
Section 2.02 or 2.10 hereof and with a certificate number not contemporaneously outstanding. 
 Every new Note issued pursuant to this
Section 2.11 in exchange for any mutilated Note, or in lieu of any destroyed, lost or stolen Note, will constitute an original contractual obligation of the Company and any other obligor upon the Notes, regardless of whether the mutilated,
destroyed, lost or stolen Note will be at any time enforceable by anyone, and will be entitled to all benefits of (and will be subject to all the limitations set forth in) this Indenture equally and proportionately with any and all other Notes duly
issued hereunder. 
 Section 2.12 Temporary Notes. Until Definitive Notes are ready for delivery, the Company may
execute and the Trustee or an authenticating agent appointed by the Trustee will, upon receipt of a Company Order, authenticate and deliver temporary Notes (printed or lithographed) (“Temporary Notes”). Temporary Notes will be
issuable in any authorized denomination, and substantially in the form of Definitive Notes, but with such omissions, insertions and variations as may be appropriate for Temporary Notes, all as may be determined by the Company. Every such Temporary
Note will be executed by the Company and authenticated by the Trustee or such authenticating agent upon the same conditions and in substantially the same manner, and with the same effect, as the Definitive Notes. Without unreasonable delay the
Company will prepare, execute and deliver to the Trustee or such authenticating agent Definitive Notes (other than any Global Note) and thereupon any or all Temporary Notes (other than any Global Note) may be surrendered in exchange therefor, at
each office or agency maintained by the Company pursuant to Section 2.06 hereof and the Trustee or such authenticating agent will authenticate and deliver in exchange for such Temporary Notes Definitive Notes having an aggregate principal
amount equal to such Temporary Notes. Such exchange will be made by the Company at its own expense and without any charge therefor. Until so exchanged, the Temporary Notes will, in all respects, be entitled to the same benefits and subject to the
same limitations under this Indenture as Definitive Notes authenticated and delivered hereunder. 

  
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 Section 2.13 Cancellation. At any time, the Company may deliver Notes to the Trustee
for cancellation. Whenever any Note is surrendered to the Registrar, Conversion Agent or Paying Agent for registration of transfer, exchange, conversion, repurchase, redemption or payment, the Registrar, Conversion Agent or Paying Agent, as the case
may be, will promptly forward such Note to the Trustee. Upon receipt of any such Note, the Trustee, in its customary manner, will promptly cancel and dispose of such Note. The Company may not issue new Notes to replace Notes that it has repurchased,
redeemed, paid or delivered to the Trustee for cancellation or that a Holder has converted pursuant to Article 10 hereof. 

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

(a) If a Note is replaced pursuant to Section 2.11 hereof, such Note will cease to be outstanding at the time of its replacement unless
the Trustee and the Company receive proof satisfactory to them that such Note is held by a bona fide purchaser. 
 (b) In addition, if the
Company, any other obligor or an Affiliate of the Company or an Affiliate of such other obligor holds a Note, such Note will be disregarded and deemed not to be outstanding for purposes of determining whether the Holders of the requisite aggregate
principal amount of Notes have given or concurred in any request, demand, authorization, direction, notice, consent, waiver or other action hereunder, except that, in determining whether the Trustee shall be protected in relying upon any such
request, demand, authorization, direction, notice, consent or waiver, only Notes that a Trust Officer of the Trustee actually knows to be so owned shall be so disregarded. Subject to the foregoing, only Notes outstanding at the time of any such
determination will be considered in such determination (including determinations pursuant to Article 6 and Article 9 hereof). 

Section 2.15 Persons Deemed Owners. Prior to due presentment of a Note for registration of transfer, the Company, the Trustee and
any agent of the Company or the Trustee may treat the Person in whose name such Note is registered in the Register as the owner of such Note for the purpose of receiving the payment of the principal, Fundamental Change Repurchase Price or Redemption
Price of, and interest, if any, on, such Note, for the purpose of conversion of such Note and for all other purposes whatsoever with respect to such Note, and none of the Company, the Trustee or any agent of the Company or the Trustee will be
affected by any notice to the contrary. 
 Section 2.16 Repurchases. The Company may, from time to time, repurchase Notes in
open market purchases or in negotiated transactions without delivering prior notice to Holders. 
 Section 2.17 CUSIPs. 

(a) Whenever “CUSIP” and “ISIN” numbers are generally in use, the Company will use CUSIP and ISIN numbers with
respect to the Notes, which CUSIP and ISIN numbers (i) for Restricted Notes, will be restricted numbers, and (ii) for Notes that are not Restricted Notes, will be unrestricted numbers. Whenever the Company uses CUSIP and ISIN numbers, the
Trustee will also use CUSIP and ISIN numbers in each notice it delivers to the Holders; provided, that  

  
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neither the Company nor the Trustee will be responsible for any defect in any CUSIP or ISIN number that appears on any Note, check, advice of payment or notice, including any notice delivered
pursuant to Section 11.03. The Company will promptly notify the Trustee in writing in the event of any change in the CUSIP or ISIN numbers. 

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

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

ARTICLE 3 
 REPURCHASE AT
THE OPTION OF THE HOLDER 
 Section 3.01 Fundamental Change Permits Holders to Require the Company to Repurchase the Notes.

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

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

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

  
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 Section 3.02 Fundamental Change Notice. 

(a) General. On or before the 15th calendar day immediately following the effective date of a Fundamental Change,
the Company will deliver to each Holder (and to any beneficial owners of a Global Note, as required by applicable law), the Trustee, the Coversion Agent and the Paying Agent written notice of such Fundamental Change and the resulting repurchase
right (the “Fundamental Change Notice,” and the date of such mailing, the “Fundamental Change Notice Date”). Simultaneously with mailing any Fundamental Change Notice to the Holders, the Trustee and the Paying
Agent, the Company will publish a notice containing the same information as the Fundamental Change Notice in a newspaper of general circulation in The City of New York and on its website or through such other public medium as the Company may use at
such time. 
 For any Fundamental Change, the Fundamental Change Notice corresponding to such Fundamental Change will specify: 

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

(B) the effective date of such Fundamental Change; 

(C) the last date on which a Holder may exercise its right to require the Company to repurchase its Notes as a result of such
Fundamental Change under this Article 3; 
 (D) the procedures that a Holder must follow to require the Company to repurchase
a Note; 
 (E) the Fundamental Change Repurchase Price for each $1,000 principal amount of Notes for such Fundamental Change;

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

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

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

(I) the Conversion Rate in effect on the Fundamental Change Notice Date for such Fundamental Change and the Last Reported Sale
Price of the Common Stock on the Trading Day immediately preceding the Fundamental Change Notice Date; 
 (J) if applicable,
any adjustments that will be made to the Conversion Rate as a result of such Fundamental Change, including any Additional Shares by which the Conversion Rate will be increased pursuant to Section 10.07 hereof for a Holder that converts a Note
“in connection with” such Fundamental Change; 

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

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

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

(b) Failure or Defect. Notwithstanding anything provided elsewhere in this Indenture, neither the failure of the Company to
deliver a Fundamental Change Notice nor a defect in a Fundamental Change Notice delivered by the Company will limit the repurchase rights of any Holder under this Article 3 or impair or otherwise affect the validity of any proceedings relating to
the repurchase of any Note pursuant to this Article 3. 
 (c) Third Party Offer. Notwithstanding the other provisions
of this Article 3, the Company will not be required to make an offer to purchase the Notes upon a Fundamental Change if a third party makes such an offer in the manner, at the times and otherwise in compliance with the requirements in this Indenture
and such third party purchases all Notes properly tendered and not validly withdrawn under its offer in the same manner as the Company would have been required to pursuant to this Indenture. 

Section 3.03 Fundamental Change Repurchase Notice. 

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

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

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

  
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 (b) Contents of Fundamental Change Repurchase Notice. The Fundamental Change
Repurchase Notice for any Note must state: 
 (i) if such Note is to be repurchased in part, the principal amount of such Note to be
repurchased, which principal amount must equal $1,000 or an integral multiple of $1,000 in excess thereof; 
 (ii) that such Note will be
repurchased by the Company pursuant to the provisions of this Article 3 hereof; and 
 (iii) if such Note is a Definitive Note, the
certificate number of such Note. 
 If the Notes to be repurchased are Global Notes, the Fundamental Change Repurchase Notice for such Notes
must comply with the Applicable Procedures. 
 (c) Notice to Company. If any Holder validly delivers to the Paying Agent a
Fundamental Change Repurchase Notice with respect to a Note or any portion of a Note, the Paying Agent will promptly deliver to the Company a copy of such Fundamental Change Repurchase Notice. 

(d) Effect of Improper Notice. Unless and until the Paying Agent receives a validly endorsed and delivered Fundamental Change
Repurchase Notice with respect to a Note, together with such Note, in a form that conforms in all material aspects with the description contained in such Fundamental Change Repurchase Notice, the Holder submitting the Notes will not be entitled to
receive the Fundamental Change Repurchase Price for such Note. 
 Section 3.04 Withdrawal of Fundamental Change Repurchase
Notice. 
 (a) General. After a Holder delivers a Fundamental Change Repurchase Notice with respect to a Note, such Holder
may withdraw such Fundamental Change Repurchase Notice with respect to such Note or any portion of such Note in principal amount equal to $1,000 or an integral multiple of $1,000 in excess thereof by delivering to the Paying Agent a written notice
of withdrawal prior to the Close of Business on the second Business Day immediately preceding the Fundamental Change Repurchase Date to the Paying Agent. Any such withdrawal notice must state: 

(A) the principal amount of the Notes with respect to which such notice of withdrawal pertains, which must equal $1,000 or an
integral multiple of $1,000 in excess thereof; 
 (B) the principal amount of the Notes that remains subject to the original
Fundamental Change Repurchase Notice, which portion must have a principal amount equal to $1,000 or an integral multiple of $1,000 in excess thereof; and 

(C) if the Notes subject to such Fundamental Change Repurchase Notice were Definitive Notes, the certificate numbers of the
Notes to be withdrawn and the Notes that will remain subject to the Fundamental Change Repurchase Notice. 
 If the Notes to be withdrawn
are Global Notes, a Holder must deliver its notice of withdrawal in compliance with the Applicable Procedures. 

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

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

Section 3.05 Effect of Fundamental Change Repurchase Notice. 

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

(b) Timing of Payment. Upon the Paying Agent’s receipt of (i) a valid Fundamental Change Repurchase Notice (together
with all necessary endorsements) and (ii) the Notes to which such Fundamental Change Repurchase Notice pertains, the Holder of the Notes to which such Fundamental Change Repurchase Notice pertains will be entitled, except to the extent such
Holder has validly withdrawn such Fundamental Change Repurchase Notice in accordance with Section 3.04 hereof to receive the Fundamental Change Repurchase Price with respect to such Notes on the later of the following (subject to extension to
comply with applicable law) (i) the Fundamental Change Repurchase Date and (ii)(A) if such Notes are Definitive Notes, the date of delivery of such Notes to the Paying Agent, duly endorsed, or (B) if such Notes are Global Notes, the date
of book-entry transfer of such Notes to the Paying Agent, or, if such later date is not a Business Day, the Business Day immediately following such later date. 

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

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

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

  
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 Section 3.06 Notes Repurchased in Part. If any Definitive Note is to be repurchased
only in part, the Holder must surrender such Note at the office of the Paying Agent, whereupon the Company, in accordance with Section 2.05 hereof, will promptly execute, and the Trustee, in accordance with Section 2.05 hereof, will
promptly authenticate and deliver, to the surrendering Holder, a new Note or Notes of any authorized denomination or denominations equal to the portion of the principal amount of the Note so surrendered which is not repurchased. If any Global Note
is repurchased in part, the Company will instruct the Trustee to decrease the principal amount of such Global Note by the principal amount repurchased. Any Notes that are repurchased or owned by the Company, whether or not in connection with a
Fundamental Change, will be submitted to the Trustee for cancellation and will be duly retired by the Company. 
 Section 3.07
Covenant to Comply With Securities Laws Upon Repurchase of Notes. In connection with any repurchase offer pursuant to a Fundamental Change Repurchase Notice under this Article 3, the Company will, to the extent applicable, (i) comply
with Rule 13e-4 and any other tender offer rules under the Exchange Act that may be applicable at the time of the offer to repurchase the Notes, (ii) file the related Schedule TO (or any successor schedule, form or report) under the Exchange
Act, and (iii) otherwise comply with any applicable United States federal and state securities laws so as to permit Holders to exercise their rights and obligations under Section 3.01 hereof in the time and in the manner specified in
Sections 3.01 and 3.03 hereof. 
 Section 3.08 Deposit of Fundamental Change Repurchase Price. Prior to 11:00 a.m., New York
City time, on the Fundamental Change Repurchase Date, the Company will deposit with the Trustee or with the Paying Agent (or, if the Company or a Subsidiary or an Affiliate of either of them is acting as the Paying Agent, will segregate and hold in
trust as provided in Section 2.07 hereof) an amount of immediately available funds sufficient to pay the Fundamental Change Repurchase Price of all the Notes or portions thereof that the Company is required to repurchase on such Fundamental
Change Repurchase Date. 
 Section 3.09 Covenant Not to Repurchase Notes Upon Certain Events of Default. 

(a) General. Notwithstanding anything to the contrary in this Article 3, the Company will not purchase any Notes under this
Article 3 if, as of the Fundamental Change Repurchase Date, the principal amount of the Notes has been accelerated, such acceleration has not been rescinded and such acceleration did not result from a Default that would be cured by the
Company’s payment of the Fundamental Change Repurchase Price. 
 (b) Deemed Withdrawals. If, on any Fundamental
Change Repurchase Date, (i) a Fundamental Change Repurchase Notice for a Note has been validly tendered in accordance with Section 3.03 hereof and has not been validly withdrawn in accordance with Section 3.04 hereof, and
(ii) pursuant to this Section 3.09, the Company is not permitted to purchase Notes, the Paying Agent, upon receipt of written notice from the Company stating that the Company, pursuant to this Section 3.09, is not permitted to
purchase Notes, will deem such Fundamental Change Repurchase Notice withdrawn. 

  
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 (c) Return of Notes. If a Holder tenders a Note for purchase pursuant to this
Article 3 and, on the Fundamental Change Repurchase Date, pursuant to this Section 3.09, the Company is not permitted to purchase such Note, the Paying Agent will (i) if such Note is a Definitive Note, return such Note to such Holder, and
(ii) if such Note is held in book-entry form, in compliance with the Applicable Procedures, deem to be cancelled any instructions for book-entry transfer of such Note. 

ARTICLE 4 
 COVENANTS

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

 Section 4.02 144A Information. Whenever the Company is not subject to Section 13 or Section 15(d) of the Exchange
Act, if any Notes or shares of Common Stock, if any, issuable upon the conversion of the Notes constitute “restricted securities” within the meaning of Rule 144, the Company will, upon the request of a Holder or beneficial owner of the
Notes, or a holder or beneficial owner of the Common Stock, if any, issuable upon the conversion of the Notes, promptly furnish or cause to be furnished to the applicable Holder, beneficial owner, or any prospective purchaser designated by the
applicable Holder or beneficial owner, of the Notes, or any holder, beneficial owner, or any prospective purchaser designated by the applicable holder or beneficial owner, of the Common Stock, as the case may be, all of the information that a
prospective purchaser of the Notes or the Common Stock, as the case may be, is required to receive under Rule 144A(d)(4) of the Securities Act for the Notes or shares of Common Stock, as the case may be, to be resold to such prospective purchaser
pursuant the exemption from registration provided by Rule 144A. 
 Section 4.03 Reports. The Company will deliver to Holders,
with a copy to the Trustee, copies of all quarterly and annual reports that the Company is required to deliver to the SEC on Forms 10-Q and 10-K, and any other documents, information or other reports that the Company is required to file with the SEC
under Sections 13 or 15(d) of the Exchange Act no later than 15 days after the time that the Company is required to file such quarterly and annual reports, other documents, information or other reports with the SEC (after giving effect to any grace
period provided by Rule 12b-25 under the Exchange Act). Any document filed by the Company with the SEC via the EDGAR system (or any successor thereto) will be deemed to be delivered to Holders and the Trustee at the time such document is filed via
the EDGAR system (or such 

  
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successor); provided, however, that the Trustee will have no responsibility whatsoever to determine whether the Company has made any filing via the EDGAR system (or any successor thereto).
Notwithstanding anything to the contrary in the foregoing, nothing in this paragraph shall require the Company to deliver to any Holder or the Trustee any material for which the Company has sought and received, or is seeking and has not been denied,
confidential treatment by the SEC. 
 Delivery of such quarterly and annual reports, and such other documents, information and other reports
to the Trustee will be for informational purposes only, and the Trustee’s receipt of such will not constitute constructive notice of any information contained therein or determinable from information contained therein, including the
Company’s compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely conclusively on Officers’ Certificates). 

Section 4.04 Additional Interest. 

(a) General. If, at any time during the period beginning on, and including, the date that is six months after the
Last Original Issue Date and ending on, but not including, the Free Trade Date, the Company fails to timely file (after giving effect to any grace period provided by Rule 12b-25) any document or report that it is required to file with the SEC
pursuant to Sections 13 or 15(d) of the Exchange Act, as applicable (after giving effect to all applicable grace periods thereunder and other than current reports on Form 8-K), the Company will pay additional interest (the “Additional
Interest”) on the principal amount of then outstanding Notes. The Additional Interest will accrue from the due date of each such missed filing until the earlier of (i) the Free Trade Date and (ii) the date such failure to file is
corrected. 
 In addition, if either the Notes or the Common Stock, if any, issued upon the conversion of the Notes are not Freely
Tradable at all times as of the 10th day after the Free Trade Date (or the next succeeding Business Day if the Free Trade Date is not a Business Day), the Company will pay Additional Interest on the Notes. Such Additional Interest will accrue on
each day during such period on which the Notes or the Common Stock issued upon conversion of the Notes are not Freely Tradable. The accrual of Additional Interest will be the exclusive remedy available to Holders for the failure of the Notes or the
Common Stock, if any, issued upon the conversion of the Notes to become Freely Tradable. 
 In each case, the Additional Interest will be
payable on the same dates and in the same manner as the stated interest on the Notes and will initially accrue at the rate of 0.25% per annum on the principal amount of then outstanding Notes. If the Additional Interest accrues for more than 90
consecutive days, the rate at which the Additional Interest accrues will increase to 0.50% per annum on the principal amount of then outstanding Notes beginning on the 91st consecutive day on
which it accrues and ending on the last consecutive day on which it continues to accrue. The Company shall provide written notice to the Holders and the Trustee of the commencement of any period which Additional Interest shall accrue. 

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

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

Section 4.05 Compliance Certificate. 

(a) Annual Compliance Certificate. Within 90 days after the end of each fiscal year of the Company, beginning with the fiscal
year ending on January 31, 2015, the Company will deliver to the Trustee an Officers’ Certificate, which Officers’ Certificate will state (i) that the Officers signing such Officers’ Certificate have supervised a review of
the activities of the Company and the Subsidiaries with a view to determining whether the Company has kept, observed, performed and fulfilled its obligations under this Indenture during the preceding fiscal year, and (ii) to the best knowledge
of each of the Officers signing such Officers’ Certificate, (A) whether the Company has kept, observed, performed and fulfilled each and every covenant contained in this Indenture and is not in default in the performance or observance of
any of the terms, provisions and conditions of this Indenture (without regard to any period of grace or requirement of notice provided under this Indenture) or, if one or more Defaults or Events of Default have occurred, what events triggered such
Defaults or Events of Default and what actions the Company is taking or proposes to take with respect to such Defaults or Events of Default, and (B) whether any event has occurred and remains in existence by reason of which any payment of the
principal of, the Fundamental Change Repurchase Price or the Redemption Price for, or interest on, or any delivery of any of the consideration due upon conversion of, a Note is prohibited, and, if any such event has occurred and remains in
existence, a description, in reasonable detail, of such event or events and what actions the Company is taking or proposes to take with respect to such event or events. 

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

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

  
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 Section 4.07 Corporate Existence. Subject to Article 5 hereof, the Company will do or
cause to be done all things necessary to preserve and keep in full force and effect: 
 (a) its corporate existence, and the corporate,
partnership or other existence of each of the Subsidiaries, in accordance with the respective organizational documents (as the same may be amended from time to time) of the Company or any such Subsidiary; and 

(b) the rights (charter and statutory), licenses and franchises of the Company and the Subsidiaries; 

provided, however, that the Company will not be required to preserve or keep in full force and effect any such right, license or franchise, or the
corporate, partnership or other existence of any of the Subsidiaries, if the Board of Directors determines that the preservation thereof is no longer desirable in the conduct of the business of the Company and the Subsidiaries, taken as a whole, and
that the loss thereof is not adverse in any material respect to the Holders. 
 Section 4.08 Par Value Limitation. 

The Company will not take any action that, after giving effect to any adjustment pursuant to Section 10.05 or 10.07, would result in the
Conversion Price becoming less than the par value of one share of Common Stock. In addition, the Company will not adjust the Conversion Rate pursuant to Section 10.06 such that the Conversion Price would be less than the par value of one share
of Common Stock. 
 Section 4.09 Stay, Extension and Usury Laws. The Company covenants that, to the extent that it may lawfully
do so, it will not at any time insist upon, plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay, extension or usury law wherever enacted, now or at any time hereafter in force, that may affect the covenants or the
performance of this Indenture; and the Company, to the extent that it may lawfully do so, hereby expressly waives all benefit or advantage of any such law, and covenants that it will not, by resort to any such law, hinder, delay or impede the
execution of any power herein granted to the Trustee, but will instead suffer and permit the execution of every such power as though no such law has been enacted. 

Section 4.10 Further Instruments and Acts. Upon request of the Trustee, the Company will execute and deliver such further
instruments and do such further acts as may be reasonably necessary or proper to carry out more effectively the terms of this Indenture. 

  
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 Section 4.11 Limitation on Incurrence of Additional Indebtedness. For so long as any
Notes are outstanding, the Company will not, nor will the Company permit any of the Subsidiaries to, directly or indirectly, incur any Indebtedness other than Permitted Debt; provided, however, that the Company may, and may permit any of the
Subsidiaries to, incur Indebtedness if: 
 (a) no Default or Event of Default shall have occurred and be continuing at the time of such
incurrence or would occur as a consequence of such incurrence; and 
 (b) after giving pro forma effect to such incurrence and the receipt
and application of the proceeds therefrom, the Consolidated Leverage Ratio would not exceed 5.00 to 1.00. 
 Section 4.12 Liens.
The Company will not and will not permit any of the Subsidiaries to, create, incur, assume or otherwise cause or become effective any consensual Lien on the Intellectual Property of any kind unless all payments due under the Notes are secured on an
equal and ratable basis with the obligations so secured until such time as such obligations are no longer secured by a Lien. 
 ARTICLE 5

 CONSOLIDATION, MERGER AND SALE OF ASSETS 

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

 (a) either: 
 (i) the
Company is the surviving corporation; or 
 (ii) the resulting, surviving or transferee Person (if other than the Company) of such
Reorganization Event (the “Reorganization Successor Corporation”): 
 (I) is a corporation organized and validly
existing under the laws of the United States of America, any State thereof or the District of Columbia; and 
 (II) expressly assumes, by
executing and delivering a supplemental indenture to the Trustee that is reasonably satisfactory in form to the Trustee in accordance with Section 9.03 hereof, all of the obligations of the Company under the Notes and this Indenture; 

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

(c) prior to the effective date of such Reorganization Event, the Company delivers to the Trustee an Officers’ Certificate and an Opinion
of Counsel, each stating that: 
 (i) such Reorganization Event and such supplemental indenture comply with Section 5.01(a) hereof; and

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

  
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 Section 5.02 Successor Substituted. If any Reorganization Event occurs that complies
with Sections 5.01(a)(ii) and 5.01(b) hereof, and the Company has complied with Section 5.01(c) hereof: 
 (a) from and after the date
of such Reorganization Event, the Reorganization Successor Corporation for such Reorganization Event will succeed to, and be substituted for, and may exercise every right and power of, the Company under this Indenture with the same effect as if such
Reorganization Successor Corporation had been named as the Company herein; and 
 (b) except in the case of a Reorganization Event that is a
conveyance, transfer or lease of all or substantially all of the Company’s assets, the Person named as the “Company” in the first paragraph of this Indenture or any successor (other than such Reorganization Successor Corporation) that
will thereafter have become such in the manner prescribed in this Article 5 will be released from its obligations under this Indenture and may be dissolved, wound up and liquidated at any time. 

ARTICLE 6 
 DEFAULTS AND
REMEDIES 
 Section 6.01 Events of Default. 

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

(i) the Company fails to pay the principal of the Notes (including any Fundamental Change Repurchase Price or Redemption Price) when due at
maturity, upon Redemption, repurchase upon a Fundamental Change, declaration of acceleration or otherwise; 
 (ii) the Company fails to pay
any interest when due and such failure continues for a period of 30 days after the applicable due date; 
 (iii) the Company fails to give
any Fundamental Change Notice, Redemption Notice or notice of a Make-Whole Fundamental Change, in each case, when due; 
 (iv) the Company
fails to comply with its obligation to convert a Note in accordance with Article 10 hereof upon a Holder’s exercise of its conversion rights with respect to such Note and such failure continues for a period of five Business Days; 

(v) the Company fails to comply with its obligations under Article 5 hereof; 

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

  
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there may be secured or evidenced, any indebtedness for money borrowed by the Company and/or any Subsidiary in excess of $10,000,000 in the aggregate, whether such indebtedness exists as of the
Issue Date or is later created, if that default: 
 (A) results in such indebtedness becoming or being declared due and
payable (prior to its express maturity); or 
 (B) constitutes a failure to pay the principal of, or interest on, such
indebtedness when due and payable at its stated maturity, upon required repurchase, upon declaration or otherwise; 
 (viii) a final
judgment for the payment of $10,000,000 or more (excluding any amounts covered by insurance) is rendered against the Company or any Subsidiary, and such judgment is not discharged or stayed within 60 days after (i) the date on which all rights
to appeal such judgment have expired if no appeal has commenced, or (ii) the date on which all rights to appeal have been extinguished; 

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

(A) commences a voluntary case; 

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

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

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

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

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

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

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

(B) appoints a Custodian of the Company or any Significant Subsidiary, or for any substantial part of the property of the
Company or any Significant Subsidiary; 
 (C) orders the winding up or liquidation of the Company or any Significant
Subsidiary; or 

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

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

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

Section 6.02 Acceleration. 

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

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

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

Section 6.03 Other Remedies. If an Event of Default occurs and is continuing, the Trustee may pursue any available remedy to
collect the payment of principal, accrued and unpaid interest, if any, or payment of the Fundamental Change Repurchase Price or Redemption Price for, the Notes or to enforce the performance of any provision of the Notes or this Indenture regarding
any other matter. 
 The Trustee may maintain a proceeding even if it does not possess any of the Notes or does not produce any of the Notes
in the proceeding. A delay or omission by the Trustee or any Holder in exercising any right or remedy accruing upon an Event of Default will not impair the right or remedy or constitute a waiver of or acquiescence in the Event of Default. No remedy
is exclusive of any other remedy. All available remedies are cumulative. 

  
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 Section 6.04 Sole Remedy for Failure to Report. 

(a) General. Notwithstanding anything to the contrary in the Notes or in this Indenture, the Company may elect
that the sole remedy for any Event of Default specified in Section 6.01(a)(vi) hereof relating to the Company’s failure to comply with Section 4.03 hereof (a “Reporting Event of Default”) will, for the period
beginning on the date on which such Reporting Event of Default first occurred and ending on the earlier of (A) the date on which such Reporting Event of Default is cured or validly waived in accordance with Section 6.05 hereof and
(B) the 180th calendar day immediately following the date on which such Reporting Event of Default first occurred, consist exclusively of the right to receive additional interest (the “Extension Fee”) on the Notes at a rate
equal to 0.25% per annum of the principal amount of the Notes outstanding for each day during the first 90 days after the occurrence of such Reporting Event of Default and 0.50% per annum on the principal amount of the then-outstanding
Notes for each day during the period from the 91st day through, and including, the 180th day following the occurrence of such Reporting Event Default during which such Reporting Event Default is continuing. Any Extension Fee will be payable in the
same manner and on the same dates as the stated interest payable on the Notes and will accrue in addition to any Additional Interest that the Company is obligated to pay under Section 4.04 hereof. 

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

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

If a Reporting Event of Default occurs and the Company fails to timely deliver such notice for such Reporting Event of Default, the Notes will
be subject to acceleration under Section 6.02(a) hereof on account of such Reporting Event of Default. 
 (d) Other Events of
Default. Notwithstanding anything to the contrary herein, if the Company elects to pay the Extension Fee with respect to any Reporting Event of Default, the Company’s election will not affect the rights of any Holder with respect to any
other Event of Default, including with respect to any other Reporting Event of Default; provided, that, for the avoidance of doubt, in no event will the Company be obligated to pay the Extension Fee at a rate greater than 0.50% per annum
on the principal amount of then outstanding Notes. 
 Notwithstanding the foregoing, in no event will any Extension Fee that may
accrue pursuant to this Section 6.04, together with any Additional Interest that may accrue pursuant to 

  
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Section 4.04(a), accrue, in the aggregate, at a rate in excess of 0.50% per annum, regardless of the number of events or circumstances giving rise to the requirement to pay such
Extension Fee and/or Additional Interest. 
 Section 6.05 Waiver of Past Defaults. If an Event of Default described in Sections
6.01(a)(i), 6.01(a)(ii), 6.01(a)(iv) or 6.01(a)(vi) (which, in the case of Section 6.01(a)(vi) only, relates to a covenant that cannot be amended without the consent of each affected Holder) or a Default that would lead to such an Event of
Default occurs and is continuing, such Event of Default or Default may be waived only with the consent of each affected Holder. Every other Event of Default or Default may be waived by the Holders of a majority of the aggregate principal amount of
then outstanding Notes (including consents obtained in connection with a repurchase of, or tender offer or exchange offer for, Notes). Whenever any Event of Default is so waived, it will cease to exist, and whenever any Default is so waived, it will
be deemed cured and any Event of Default arising therefrom will be deemed not to occur. However, no such waiver will extend to any subsequent or other Default or Event of Default or impair any consequent right. 

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

Section 6.07 Limitation on Suits. Except to enforce (i) its rights to receive the principal of, the Fundamental Change
Repurchase Price or the Redemption Price for, interest, if any, on, a Note, or (ii) the failure of the Company to comply with its obligations under Article 10 to convert any Note, no Holder may pursue a remedy with respect to this Indenture or
the Notes unless: 
 (a) such Holder has previously delivered to the Trustee written notice that an Event of Default has occurred and is
continuing; 
 (b) the Holders of at least 25% of the aggregate principal amount of then-outstanding Notes deliver to the Trustee a written
request that the Trustee pursue a remedy with respect to such Event of Default; 
 (c) such Holder or Holders have offered and, if
requested, provided, to the Trustee security or indemnity satisfactory to the Trustee against any loss, liability or other expense of compliance with such written request; 

  
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 (d) the Trustee has not complied with such written request within 60 days after receipt of such
written request and offer of security or indemnity; and 
 (e) during such 60-day period, the Holders of a majority of the aggregate
principal amount of then outstanding Notes did not deliver to the Trustee a direction inconsistent with such written request. 
 A Holder
may not use this Indenture to prejudice the rights of any other Holder or to obtain a preference or priority over any other Holder, it being understood that the Trustee does not have any affirmative duty to ascertain whether any usage of this
Indenture by a Holder is unduly prejudicial to such other Holders. 
 Section 6.08 Rights of Holders To Receive Payment.
Notwithstanding any other provision of this Indenture, the right of any Holder to receive payment of the principal of, the Fundamental Change Repurchase Price or the Redemption Price for, accrued and unpaid interest, if any, on, and any
consideration due under Article 10 upon conversion of, its Note, on or after the respective due date, or to bring suit for the enforcement of any such payment and/or delivery on or after the respective due date, will not be impaired or affected
without the consent of such Holder and will not be subject to the requirements of Section 6.07 hereof. 
 Section 6.09
Collection Suit by Trustee. If an Event of Default specified in Sections 6.01(a)(i), 6.01(a)(ii), or 6.01(a)(iv) hereof occurs and is continuing, the Trustee is authorized to recover judgment in its own name and as trustee of an express trust
against the Company for the whole amount of principal of, the Fundamental Change Repurchase Price or the Redemption Price for, interest, if any, on, and the Conversion Consideration, if any, due upon conversion of, the Notes, and, to the extent
lawful, any Default Interest on any Defaulted Amounts, and such further amount as is sufficient to cover the costs and expenses of collection provided for under Section 7.06 hereof. 

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

  
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reorganization, arrangement, adjustment or composition affecting the Notes or the rights of any Holder, or to authorize the Trustee to vote in respect of the claim of any Holder in any such
proceeding. 
 Section 6.11 Priorities. If the Trustee collects any money or property pursuant to this Article 6, it will pay
out the money or property in the following order: 
 FIRST: to the Trustee, its agents and attorneys for amounts due under Section 7.06
hereof, including payment of all fees, compensation, expenses and liabilities incurred, and all advances made, by the Trustee and the costs and expenses of collection; 

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

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

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

Section 6.12 Undertaking for Costs. In any suit for the enforcement of any right or remedy under this Indenture or in any suit
against the Trustee for any action taken or omitted by it as Trustee, a court in its discretion may require the filing by any party litigant in the suit of an undertaking to pay the costs of the suit, and the court in its discretion may assess
reasonable costs, including reasonable attorneys’ fees and expenses, against any party litigant in the suit, having due regard to the merits and good faith of the claims or defenses made by the party litigant. This Section 6.12 does not
apply to a suit by the Trustee, a suit by a Holder pursuant to Section 6.08 hereof or a suit by Holders of more than 10% in aggregate principal amount of the then outstanding Notes. 

ARTICLE 7 
 TRUSTEE

 Section 7.01 Duties of Trustee. 

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

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

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

(c) The Trustee may not be relieved from liabilities for its own negligent action, its own negligent failure to act, or its own willful
misconduct, except that: 
 (i) this paragraph does not limit the effect of Section 7.01(b) hereof; 

(ii) the Trustee will 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 
 (iii) the Trustee will not be liable with respect to any action it takes or omits to
take in good faith in accordance with a direction received by it pursuant to Sections 6.06, 12.03 or 12.04 hereof. 
 (d) Whether herein
expressly so provided, every provision of this Indenture that in any way relates to the Trustee is subject to this Section 7.01. 
 (e)
The Trustee will not be liable for interest on any money received by it or risk or expend any of its own funds. 
 (f) Money held in trust
by the Trustee need not be segregated from other funds except to the extent required by law. 
 (g) No provision of this Indenture will
require the Trustee to expend or risk its own funds or otherwise incur financial liability in the performance of any of its duties hereunder or in the exercise of any of its rights or powers. 

(h) Every provision of this Indenture relating to the conduct or affecting the liability of or affording protection to the Trustee will be
subject to the provisions of this Article 7, and the provisions of this Article 7 will apply to the Trustee, Registrar, Paying Agent and Conversion Agent. 

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

Section 7.02 Rights of Trustee. 

(a) The Trustee may conclusively rely upon any document believed by it to be genuine and to have been signed or presented by the proper
person. The Trustee need not investigate any fact or matter stated in the document. The Trustee may, however, in its 

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

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

(c) The Trustee may act through agents, attorneys or custodians and will not be responsible for the misconduct or negligence of any agent,
attorney or custodian appointed with due care. 
 (d) So long as the Trustee’s conduct does not constitute willful misconduct or
negligence, the Trustee will not be liable for any action it takes or omits to take in good faith that it believes to be authorized or within the rights or powers conferred upon it by this Indenture. 

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

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

 (g) The Trustee will be under no obligation to exercise any of the rights 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 have offered to the Trustee security or indemnity satisfactory to the Trustee against the costs, expenses and liabilities that might be incurred by it in compliance with
such request or direction. 
 (h) The rights, privileges, protections, immunities and benefits given to the Trustee, including its right to
be indemnified, are extended to, and will be enforceable by, the Trustee in each of its capacities hereunder, and each agent, custodian and other Person employed to act hereunder, including the Registrar, Paying Agent and Conversion Agent. 

(i) The Trustee may request that the Company deliver an Officers’ Certificate setting forth the names of individuals and/or titles of
officers authorized at such time to take specified actions pursuant to this Indenture, which Officers’ Certificate may be signed by any Person authorized to sign an Officers’ Certificate, including any Person specified as so authorized in
any such certificate previously delivered and not superseded. 
 (j) In no event will the Trustee be responsible or liable for special,
indirect, punitive or consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and regardless of the form of
action. 

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

Section 7.04 Trustee’s Disclaimer. The Trustee will not be responsible for and makes no representation as to the validity,
priority or adequacy of this Indenture or the Notes, it will not be accountable for the Company’s use of the proceeds from the Notes, and it will not be responsible for any statement of the Company in this Indenture or in any document issued in
connection with the sale of the Notes or in the Notes other than the Trustee’s certificate of authentication. 

Section 7.05 Notice of Defaults. If a Default occurs and is continuing and is actually known to the Trustee, the Trustee
will send to each Holder notice of the Default within 90 days after such Default first occurs, or, if it is not known to the Trustee at such time, promptly (and in any event within 10 days) after it is known to the Trustee; provided,
however, that except in the case of a Default that is, or would lead to, an Event of Default described in Sections 6.01(a)(i), 6.01(a)(ii), 6.01(a)(iii) or 6.01(a)(iv) hereof, the Trustee may withhold the notice if and so long as a committee
of its Trust Officers in good faith determines that withholding the notice is in the interests of Holders. 
 Section 7.06
Compensation and Indemnity. 
 (a) The Company will pay to the Trustee, from time to time, such compensation as will be agreed upon,
from time to time, in writing for its services. The Trustee’s compensation will not be limited by any law on compensation of a trustee of an express trust. The Company will reimburse the Trustee upon request for all reasonable out-of-pocket
fees and expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses will include the reasonable compensation, fees and expenses, disbursements and advances of the Trustee’s
agents, counsel, accountants and experts. The Company will fully indemnify the Trustee and hold it harmless against any and all loss, liability, claims (including those between the parties to this Indenture), damages or expenses (including
reasonable attorneys’ fees and expenses) incurred by it in connection with the acceptance and administration of this trust and the performance of its duties hereunder, including the costs and expenses of defending itself against any claim
(whether asserted by the Company, any Holder or any other Person). The Trustee will notify the Company promptly of any claim for which it may seek indemnity. Failure by the Trustee to so notify the Company of any claim for which it may seek
indemnity of which a Trust Officer has actually received written notice will not relieve the Company of its obligations hereunder except to the extent such failure is adjudicated by a court of competent jurisdiction to have materially prejudiced the
Company. The Company will defend the claim and the Trustee will cooperate in the defense. If the Trustee is advised by counsel that it may have available to it defenses that are in conflict with the defenses available to the Company or that there is
an actual or potential conflict of interest, then the Trustee may have separate counsel, and the Company will pay the reasonable fees and expenses of such counsel. The Company will pay the reasonable fees and expenses of counsel to the Trustee
incurred in 

  
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evaluating whether such defense and/or conflict exists. The Company need not reimburse any expense or indemnify against any loss, liability or expense incurred by the Trustee through the
Trustee’s own willful misconduct or negligence. The Company need not pay for any settlement made by the Trustee without the Company’s consent, such consent not to be unreasonably withheld. All indemnifications and releases from liability
granted hereunder to the Trustee will extend to its officers, directors, employees, agents, attorneys, custodians, successors and assigns. In no event shall the Company have the right, without the related Trustee’s written consent, to settle
any such claim if such settlement (i) arises from or is part of any criminal action, suit or proceeding, (ii) contains a stipulation to, confession of judgment with respect to, or admission or acknowledgement of, any liability or
wrongdoing on the part of such the Trustee, (iii) provides for injunctive relief or specific performance on the part of the Trustee or any other relief other than monetary damages payable in full by the Company or (iv) does not contain an
unconditional release of the Trustee from all liability on all claims that are the subject matter of the related dispute or proceeding. 

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

 (c) The Company’s payment obligations pursuant to this Section 7.06 will survive the resignation or removal of the Trustee and
the discharge of this Indenture. If the Trustee incurs expenses after the occurrence of a Default specified in Sections 6.01(a)(ix) or 6.01(a)(x) hereof with respect to the Company, the expenses are intended to constitute expenses of administration
under the Bankruptcy Law. 
 Section 7.07 Replacement of Trustee. 

(a) The Trustee may resign at any time by notifying the Company, in writing, at least 30 days prior to the proposed resignation. The Holders
of a majority in aggregate principal amount of then outstanding Notes may remove the Trustee by notifying the Trustee, in writing. The Company may remove the Trustee if: 

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

(ii) the Trustee is adjudged bankrupt or insolvent; 

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

(iv) the Trustee otherwise becomes incapable of acting. 

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

  
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 (c) A successor Trustee will deliver a written acceptance of its appointment to the retiring
Trustee and to the Company. Thereupon, the resignation or removal of the retiring Trustee will become effective, and the successor Trustee will have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee will
send a notice of its succession to Holders. The retiring Trustee will, upon payment of all of its costs and the costs of its agents and counsel, promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien
provided for in Section 7.06 hereof. 
 (d) If a successor Trustee does not take office within 60 days after the retiring Trustee
resigns or is removed, the retiring Trustee, the Company or the Holders of at least 10% of the aggregate principal amount of the Notes then outstanding may petition, at the expense of the Company, any court of competent jurisdiction for the
appointment of a successor Trustee. 
 (e) If the Trustee, after written request by any Holder, fails to comply with Section 7.09
hereof, such Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. 

(f) Notwithstanding the replacement of the Trustee pursuant to this Section 7.07, the Company’s obligations under Section 7.06
hereof will continue for the benefit of the retiring Trustee. 
 Section 7.08 Successor Trustee by Merger. 

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

(b) In case at the time such successor or successors by merger, conversion or consolidation to the Trustee succeeds to the trusts created by
this Indenture, any of the Notes have been authenticated, but not delivered, any such successor to the Trustee may adopt the certificate of authentication of any predecessor Trustee, and deliver such Notes so authenticated; and, in case at that time
any of the Notes have not been authenticated, any such successor to the Trustee may authenticate such Notes, either in the name of any predecessor Trustee hereunder or in the name of the successor to the Trustee. 

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

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

  
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Officer actually receives such application, unless any such Officer has consented in writing to any earlier date), unless prior to taking any such action (or the effective date in the case of any
omission), the Trustee has received written instructions in response to such application specifying the action to be taken or omitted. 

ARTICLE 8 
 SATISFACTION
AND DISCHARGE 
 Section 8.01 Discharge of Liability on Notes. When (a)(i) the Company delivers to the Registrar all
outstanding Notes (other than Notes replaced pursuant to Section 2.11 hereof) for cancellation or (ii) all outstanding Notes have become due and payable, and the Company irrevocably deposits with the Trustee or delivers to the Holders, as
applicable, cash and/or shares of Common Stock (or, if applicable, Reference Property) and cash (in lieu of fractional shares of Common Stock or, if applicable, Reference Property Units) (solely to satisfy amounts due and owing as a result of
conversions of the Notes), sufficient to pay all amounts due and owing on all outstanding Notes (other than Notes replaced pursuant to Section 2.11 hereof), (b) the Company pays all other sums payable by it under this Indenture and
(c) the Company delivers to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all of the applicable conditions precedent to the discharge of this Indenture described in this section have been satisfied,
then, subject to Section 7.06 hereof, this Indenture will cease to be of further effect with respect to the Notes and the Holders and the Trustee will acknowledge the satisfaction and discharge of this Indenture with respect to the Notes. 

Notwithstanding the satisfaction and discharge of this Indenture, (i) any obligation of the Company to any Holder under Article 10 hereof
with respect to the conversion of any Note or to the Trustee under Article 7 hereof with respect to compensation or indemnity, and (ii) any obligation of the Trustee with respect to money deposited with the Trustee under this Article 8 and
Section 12.02 hereof will survive. 
 Section 8.02 Repayment to the Company. Subject to any applicable unclaimed property
law, the Trustee and the Paying Agent, upon receiving a written request from the Company, will promptly turn over to the Company any cash, securities, including shares of Common Stock, or other property held for payment on the Notes that remains
unclaimed two years after the date on which such payment was due. After the Trustee and the Paying Agent return such cash and securities, including shares of the Common Stock, to the Company, the Trustee and the Paying Agent will have no further
liability to any Holder with respect to such cash, securities, including shares of Common Stock, or other property, and any Holder entitled to the payment of such cash, securities, including shares of Common Stock, or other property under the Notes
or this Indenture must look to the Company for payment as a general creditor of the Company. 

  
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 ARTICLE 9 

AMENDMENTS, SUPPLEMENTS AND WAIVERS 

Section 9.01 Without Consent of Holders. The Company and the Trustee may amend or supplement this Indenture or the Notes without
the consent of any Holder: 
 (a) to add guarantees with respect to the Company’s obligations under this Indenture or the Notes; 

(b) to secure the Notes; 
 (c)
to provide for the assumption of the Company’s obligations under this Indenture and under the Notes by a Reorganization Successor Corporation as described in Article 5 hereof; 

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

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

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

(g) to cure any ambiguity or correct any inconsistency or defect in this Indenture or in the Notes that does not adversely affect Holders;

 (h) to comply with any requirement of the SEC in connection with any qualification of this Indenture or a supplement hereto under the
TIA; 
 (i) if the Company obtains Stockholder Approval as described in Section 10.03 to irrevocably elect a Settlement Method or a
Specified Dollar Amount; 
 (j) to evidence the acceptance of appointment by a successor Trustee with respect to this Indenture; 

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

(l) to conform the provisions of this Indenture to the “Description of Notes” section of the Preliminary Offering Memorandum, as
supplemented by the Pricing Term Sheet; or 
 (m) to make any other change; provided that such change individually, or in the
aggregate with all other such changes, does not have, and will not have, an adverse effect on the interest of the Holders. 

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

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

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

(c) reduce the Fundamental Change Repurchase Price or the Redemption Price of any Note or change the time at which, or the circumstances under
which, the Notes may, or will be, redeemed or repurchased; 
 (d) impair the right of any Holder to institute suit for any payment on any
Note, including with respect to any consideration due upon conversion of a Note; 
 (e) make any Note payable in a currency other than that
stated in the Note; 
 (f) make any change that impairs or adversely affects the conversion rights of any Holder under Article 10 hereof or
otherwise reduces the number of shares of Common Stock, amount of cash or any other property receivable by a Holder upon conversion; 
 (g)
change the ranking of the Notes; 
 (h) reduce any voting requirements included in this Indenture; 

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

 (j) reduce the percentage of the aggregate principal amount of then outstanding Notes whose Holders must consent to an amendment of this
Indenture or a waiver of a past Default. 
 It will not be necessary for the consent of the Holders under this Section 9.02 to approve
the particular form of any proposed amendment, but it will be sufficient if such consent approves the substance of such proposed amendment. 

Section 9.03 Execution of Supplemental Indentures. Upon the request of the Company, the Trustee will sign any supplemental
indenture authorized pursuant to this Article 9 if the amendment contained therein does not affect the rights, duties, liabilities or immunities of the Trustee under this Indenture. If the supplemental indenture adversely affects the Trustee’s
rights, duties, liabilities or immunities under this Indenture, then the Trustee may, but need not, sign such supplemental indenture. In executing any such supplemental indenture, the Trustee will be provided with, and, subject to the provisions of
Section 7.01 hereof, will be fully protected in conclusively relying upon, an Officers’ Certificate and an Opinion of Counsel stating that such supplemental indenture is authorized and permitted under this Indenture and that all conditions
precedent thereto have been satisfied and that the supplement is legal, valid and binding. 
 Section 9.04 Notices of Supplemental
Indentures. After an amendment or supplement to this Indenture or the Notes pursuant to Sections 9.01 or 9.02 hereof becomes effective, the Company will promptly deliver notice, or the Trustee, at the direction of the Company, will promptly
deliver notice, to each Holder, which notice will briefly describe the substance of such 

  
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amendment or supplement to this Indenture in reasonable detail and state the effective date of such amendment or supplement. The failure to deliver such notice to each Holder, or any defect in
such notice, will not impair or affect the validity of such amendment or supplement to this Indenture. 
 Section 9.05 Effect of
Supplemental Indentures. Upon the execution of any supplemental indenture under this Article 9: 
 (a) this Indenture will be modified
in accordance therewith; 
 (b) such supplemental indenture will form a part of this Indenture for all purposes; and 

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

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

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

(b) Special Record Dates. The Company may, but is not obligated to, fix a record date for the purpose of determining the Holders
entitled to give their consent or take any other action described above or required, or permitted, to be taken pursuant to this Indenture. If a record date is fixed, then those Persons who were Holders at such record date (or their duly designated
proxies), and only those Persons, will be entitled to give such consent, to revoke any consent previously given or to take any such action, regardless of whether such Persons continue to be Holders after such record date. No such consent will be
valid or effective for more than 120 days after such record date. 
 (c) Binding Effect. After an amendment, supplement
or waiver becomes effective, it will bind every applicable Holder. Any amendment or supplement will become effective in accordance with the terms of the supplemental indenture relating thereto, which will become effective upon the execution thereof
by the Trustee. 
 Section 9.07 Notation on, or Exchange of, Notes. If any amendment, supplement or waiver changes the
terms of a Note, the Trustee may require the Holder of such Note to deliver such Note to the Trustee. The Trustee may place an appropriate notation on such Note about the changed terms and return it to the Holder. Alternatively, if the Company or
the Trustee so determines, the Company, in exchange for the Note, will issue and the Trustee will authenticate a new Note that reflects the changed terms. 

  
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 ARTICLE 10 

CONVERSIONS 

Section 10.01 Right To Convert. 

(a) In General. Subject to, and upon compliance with, the provisions of this Article 10, a Holder may, at its option, convert
all of its Notes, or any portion of its Notes having a principal amount equal to $1,000 or an integral multiple of $1,000 in excess thereof, (i) subject to satisfaction of the conditions set forth in Section 10.01(b), at any time prior to
the Close of Business on the Business Day immediately preceding April 1, 2019, under the circumstances and during the periods set forth in Section 10.01(b), and (ii) irrespective of the conditions set forth in Section 10.01(b),
on or after April 1, 2019, and prior to the Close of Business on the second Scheduled Trading Day immediately preceding the Maturity Date, in each case, into Conversion Consideration, as provided in this Article 10, based on the Conversion
Rate. Notes may not be converted after the Close of Business on the second Scheduled Trading Day immediately preceding the Maturity Date. 

(b) Conditions to Conversions Prior to the Close of Business on the Business Day Immediately Preceding April 1, 2019. Prior
to the Close of Business on the Business Day immediately preceding April 1, 2019, no Notes may be converted except under the circumstances and during the periods set forth below in this Section 10.01(b). 

(i) Conversion Upon Satisfaction of Sale Price Condition. Prior to the Close of Business on the Business Day immediately
preceding April 1, 2019, a Holder may present its Notes for conversion during any fiscal quarter commencing after the fiscal quarter ending on January 31, 2015 (and only during such fiscal quarter), if the Last Reported Sale Price per
share of the Common Stock for each of at least 20 Trading Days (whether or not consecutive) during the 30 consecutive Trading days ending on, and including, the last Trading Day of the immediately preceding fiscal quarter is greater than 130% of the
Conversion Price on such Trading Day. 
 (ii) Conversion Upon Satisfaction of Trading Price Condition. Prior to the
Close of Business on the Business Day immediately preceding April 1, 2019, a Holder may convert its Notes during the five consecutive Business Day period immediately after any five consecutive Trading Day period (such five consecutive Trading
Day period, the “Measurement Period”) in which the Trading Price per $1,000 principal amount of the Notes, as determined following a written request by a Holder in accordance with the procedures set forth below, for
each Trading Day of the Measurement Period was less than 98% of the product of the Last Reported Sale Price of the Common Stock and the Conversion Rate on such Trading Day. The condition set forth in the preceding sentence is herein referred to as
the “Trading Price Condition.” 
 The Trading Price shall be determined by the Bid Solicitation Agent
pursuant to this Section 10.01(b)(ii) and the definition of Trading Price set forth herein. The Bid Solicitation Agent (if other than the Company) shall have no obligation to determine the Trading Price per $1,000 principal amount of the Notes
unless the Company has requested such determination in writing, and the Company will have no obligation to make such request (or seek bids itself) 

  
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unless a Holder of at least $2,000,000 aggregate principal amount of Notes provides the Company with reasonable evidence that the Trading Price per $1,000 principal amount of the Notes would be
less than 98% of the product of the Last Reported Sale Price of the Common Stock and the Conversion Rate. At such time, the Company shall, or shall instruct the Bid Solicitation Agent to, determine the Trading Price per $1,000 principal amount of
the Notes beginning on the next Trading Day and on each successive Trading Day until the Trading Price per $1,000 principal amount of the Notes is greater than or equal to 98% of the product of the Last Reported Sale Price of the Common Stock and
the Conversion Rate. If the Trading Price condition has been met, the Company will so notify the Holders, the Trustee and the Conversion Agent (if other than the Trustee) in writing. If, on any Trading Day after the Trading Price Condition has been
met, the Trading Price per $1,000 principal amount of Notes is greater than or equal to 98% of the product of the Last Reported Sale Price of the Common Stock and the Conversion Rate for such Trading Day, the Company will so notify the Holders, the
Trustee and the Conversion Agent (if other than the Trustee) in writing. 
 (iii) Conversion Upon Specified Corporate
Events. 
 (A) Certain Distributions. If the Company elects to: 

(I) issue, to all or substantially all holders of the Common Stock, any rights, options or warrants entitling them, for a period of not more
than 60 calendar days after the record date of such issuance, to subscribe for or purchase shares of the Common Stock at a price per share less than the average of the Last Reported Sale Prices of the Common Stock for the 10 consecutive Trading Day
period ending on, and including, the Trading Day immediately preceding the date of announcement of such issuance; or 
 (II) distribute, to
all or substantially all holders of the Common Stock, the Company’s assets, debt securities or rights to purchase the Company’s securities, which distribution has a per share value, as reasonably determined by the Board of Directors,
exceeding 10% of the Last Reported Sale Price of the Common Stock on the Trading Day immediately preceding the date of announcement for such distribution, 

then, in either case, (x) the Company must notify Holders (with a copy to the Trustee and the Paying Agent) at least 30 Scheduled Trading Days prior to
the Ex-Dividend Date for such issuance or distribution; and (y) once the Company has given such notice, Holders may convert their Notes at any time until the earlier of the Close of Business on the Business Day immediately preceding such
Ex-Dividend Date and the Company’s announcement that such issuance or distribution will not take place. 
 (B)
Certain Corporate Events. If, either (i) a transaction or event that constitutes a Fundamental Change occurs; (ii) a transaction or event that constitutes a Make-Whole Fundamental Change occurs; or (iii) the Company is a party
to a consolidation, merger, binding share exchange, or a transfer or lease of all or substantially all of the Company’s assets, or any other transaction, in each case pursuant to which the Common Stock would be converted into or exchanged for,
or would constitute solely the right to receive, cash, securities or other property, then the Notes may be converted at any time from and after the effective date of the transaction or event 

  
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until the earlier of (x) 35 Trading Days after the actual effective date of such transaction or event (or, if later, the date on which the Company provides notice of such transaction or
event) or, if such transaction or event also constitutes a Fundamental Change, the related Fundamental Change Repurchase Date; and (y) the Close of Business on the second Scheduled Trading Day immediately preceding the Maturity Date. No later
than the Business Day after the date the Company publicly announces such transaction or event, the Company shall notify the Holders, the Trustee and the Conversion Agent (if other than the Trustee) in writing of such transaction, its effective date
and the related right to convert Notes. 
 (iv) Conversion Based on Redemption. If the Company calls a Note for
Redemption, then the Holder of such Note may surrender the Note for conversion at any time before the Close of Business on the second Business Day immediately preceding the Redemption Date. 

(c) Closed Periods. Notwithstanding anything to the contrary in this Indenture, (i) if the Company calls the Notes for
redemption in accordance with Article 11 hereof, a Holder may not convert its Notes after the Close of Business on the Business Day immediately preceding the applicable Redemption Date except to the extent the Company fails to pay the Redemption
Price for such Notes in accordance with Section 11.05 hereof, and (ii) if a Holder tenders a Repurchase Notice with respect to its Notes in accordance with Article 3 hereof, such Notes may not be converted except to the extent
(A) such Notes are not subject to such Repurchase Notice; (B) such Repurchase Notice is withdrawn in accordance with Article 3 hereof; or (C) the Company fails to pay the Fundamental Change Repurchase Price for such Notes in
accordance with Section 3.08 hereof. 
 Section 10.02 Conversion Procedures. 

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

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

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

The conversion of any Note will be deemed to occur at the Close of Business on the Conversion Date for such Note, and any converted Note or
portion thereof will cease to be outstanding upon conversion. 
 (b) Holder of Record. If a Holder surrenders the entire
principal amount of a Note for conversion, such Person will no longer be the Holder of such Note as of the Close of Business on the Conversion Date for such Note. 

The Person in whose name any shares of Common Stock shall be issuable upon conversion of any Note will become the holder of record of such
shares as of the Close of Business on the Conversion Date for such conversion, in the case of Physical Settlement, or the last Trading Day of the relevant Observation Period, in the case of Combination Settlement. 

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

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

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

  
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the Holder converts its Note after the Close of Business on such Regular Record Date and on or prior to the Open of Business on such Interest Payment Date; (C) if the Company has
specified a Redemption Date that is after a Regular Record Date and on or prior to the Business Day immediately following the Interest Payment Date corresponding to such Regular Record Date and such Holder surrenders such Note for conversion after
such Regular Record Date and prior to the Open of Business on such Interest Payment Date; or (D) to the extent of any overdue interest, if any overdue interest exists at the time of conversion with respect to such Note. 

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

(f) Notices. Whenever a Conversion Date occurs with respect to a Note, the Conversion Agent will, as promptly as possible, and
in no event later than the Business Day immediately following such Conversion Date, deliver to the Company and the Trustee notice that a Conversion Date has occurred, which notice will state such Conversion Date, the principal amount of Notes
converted on such Conversion Date and the names of the Holders that converted Notes on such Conversion Date. 
 Section 10.03
Settlement Upon Conversion. 
 (a) Conversion Obligation. 

(i) Settlement Method. Except as provided in Section 10.07, upon conversion of any Note, if the Company has
not received the requisite approval from its stockholders in accordance with Rule 312.03 of the New York Stock Exchange Listed Company Manual (the “Stockholder Approval”) to issue 20% or more of its Common Stock upon conversion of
the Notes prior to the relevant Conversion Date (or, if earlier, the 45th Scheduled Trading Day immediately preceding the Maturity Date), the Company shall deliver to the converting Holder, in respect of each $1,000 principal amount of Notes being
converted, a number of shares of its Common Stock equal to the Conversion Rate in effect on the Conversion Date, together with a cash payment in lieu of any fractional share of Common Stock issuable upon conversion based on the Daily VWAP on the
relevant Conversion Date. For the avoidance of doubt, any settlement of conversions pursuant to this Section 10.03(a)(i) shall be considered “Physical Settlement” for all purposes hereunder, unless the context otherwise requires

 (ii) The provisions of this Section 10.03(a)(ii), whether or not expressly stated therein, will only apply if the Company has
received Stockholder Approval prior to the relevant Conversion Date (or, if earlier, the 45th Scheduled Trading Day immediately preceding the Maturity Date). 

(A) Except as provided in Section 10.07, upon conversion of any Note, if the Company has received Stockholder
Approval prior to the relevant Conversion Date (or, if 

  
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earlier, the 45th Scheduled Trading Day immediately preceding the Maturity Date), the Company may choose to pay or deliver, as the case may be, to the converting Holder cash in accordance
with Section 10.03(a)(iii)(B) (“Cash Settlement”), shares of Common Stock, together with cash, if applicable, in lieu of any fractional share of Common Stock in accordance with Section 10.03(a)(iii)(A) (“Physical
Settlement”) or a combination of cash and shares of Common Stock, together with cash, if applicable, in lieu of any fractional share of Common Stock in accordance with Section 10.03(a)(iii)(C) (“Combination
Settlement”), at the Company’s election (each of these settlement methods a “Settlement Method”); 

(B) all conversions of Notes whose Conversion Date occurs on or after April 1, 2019 will be settled using the same
Settlement Method, and the Company shall send written notice of such Settlement Method to Holders and the Trustee and Conversion Agent, no later than the Close of Business on the Scheduled Trading Day immediately preceding April 1, 2019; 

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

(D) if the Company elects a Settlement Method with respect to the conversion of any Note whose Conversion Date occurs before
April 1, 2019, the Company shall send written notice of such Settlement Method to the Holder of such Note,, and the Trustee and Conversion Agent, no later no later than the Close of Business on the Trading Day immediately following such
Conversion Date; 
 (E) if the Company has received Stockholder Approval and does not timely elect a Settlement Method with
respect to the conversion of a Note, then the Company will be deemed to have elected Combination Settlement with a Specified Dollar Amount per $1,000 principal amount of such Note equal to $1,000; and 

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

(iii) Conversion Consideration. With respect to any conversions after obtaining Stockholder Approval, the type and amount of
consideration (the “Conversion Consideration”) due in respect of each $1,000 principal amount of a Note to be converted shall be as follows: 

(A) if Physical Settlement applies to such conversion, (I) a whole number of shares of Common Stock equal to the
Conversion Rate in effect on the Conversion Date for such conversion (which, if not a whole number, shall be rounded down to the nearest whole number); and (II) if such Conversion Rate is not a whole number, cash in lieu of

  
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the related fractional share in an amount equal to the product of (x) the Daily VWAP on such Conversion Date (or if such Conversion Date is not a Trading Day, the immediately preceding
Trading Day) and (y) the fractional portion of such Conversion Rate; 
 (B) if Cash Settlement applies to such
conversion, cash in an amount equal to the sum of the Daily Conversion Values for each of the 40 consecutive Trading Days in the Observation Period for such conversion; or 

(C) if Combination Settlement applies to such conversion, a settlement amount equal to (I) the sum of the Daily Settlement
Amounts for each of the 40 consecutive Trading Days in the Observation Period for such conversion (which, for the avoidance of doubt, shall consist of a number of whole shares of Common Stock equal to the sum of the Daily Share Amounts for each of
the Trading Days in such Observation Period (which, if such sum is not a whole number, shall be rounded down to the nearest whole number) and cash in an amount equal to the sum of the Daily Cash Amounts for each of the Trading Days in such
Observation Period); and (II) if the sum of the Daily Share Amounts for each of the Trading Days in such Observation Period is not a whole number, cash in lieu of the related fractional share in an amount equal to the product of (x) the Daily
VWAP on the last Trading Day of such Observation Period and (y) the fractional portion of such sum. 
 With respect to any conversion
of Notes to which Cash Settlement or Combination Settlement applies, the Company shall determine the Conversion Consideration due thereupon promptly following the last day of the applicable Observation Period and shall promptly thereafter notify the
Trustee and the Conversion Agent (if other than the Trustee) in writing of the same and the calculation thereof in reasonable detail. Neither the Trustee nor the Conversion Agent (if other than the Trustee) shall have any responsibility for any such
determination. 
 (iv) Delivery of Conversion Consideration. Except as set forth in Sections 10.05, 10.07 and 10.08 hereof,
the Company shall pay or deliver, as the case may be, the Conversion Consideration due upon the conversion of any Note to the Holder thereof as follows: (i) if Cash Settlement or Combination Settlement applies to such conversion, on the third
Business Day immediately following the last Trading Day of the Observation Period for such conversion; and (ii) if Physical Settlement applies to such conversion, on the third Business Day immediately following the Conversion Date for such
conversion. 
 (b) Conversion of Multiple Notes by a Single Holder. If a Holder converts more than one Note on a single
Conversion Date, the Conversion Consideration due in respect of such conversion will be computed based on the total principal amount of Notes converted on such Conversion Date by such Holder. 

(c) Settlement of Accrued Interest and Deemed Payment of Principal. If a Holder converts a Note, the Company will not adjust the
Conversion Rate to account for any accrued and unpaid interest on the Note, and the Company’s delivery of the Conversion Consideration due upon such conversion will be deemed to satisfy and discharge in full the Company’s obligation to pay
the principal of such Note and accrued and unpaid interest, if any, on, such  

  
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Note to, but excluding the Conversion Date; provided, however, that if a Holder converts a Note after a Regular Record Date and prior to the Open of Business on the
corresponding Interest Payment Date, the Company will still be obligated to pay the interest due on such Interest Payment Date to the Holder of such Note as of the Close of Business on such Regular Record Date. As a result, except as otherwise
provided in the proviso to the immediately preceding sentence, any accrued and unpaid interest with respect to a converted Note will be deemed to be paid in full rather than cancelled, extinguished or forfeited. In addition, if both cash and shares
of the Common Stock are delivered upon the conversion of a Note, accrued and unpaid interest will be deemed to be paid first out of the amount of cash so delivered. 

(d) If the Company receives Stockholder Approval on any day, the Company shall so notify Holders, the Trustee and the Conversion Agent
prior to the Close of Business on the fourth Business Day following such day; provided that such notice requirement shall be satisfied if the Company discloses such Stockholder Approval in a Current Report on Form 8-K filed by the Company on
or prior to the fourth Business Day following the day of such Stockholder Approval. 
 Section 10.04 Common Stock Issued Upon
Conversion. 
 (a) Prior to issuing of any shares of Common Stock under this Article 10, and from time to time thereafter as may be
necessary, the Company will reserve out of its authorized but unissued shares of Common Stock a number of shares of Common Stock sufficient to permit the conversion of all then-outstanding Notes under Physical Settlement. 

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

(c) If any shares of the Common Stock issued upon conversion will, upon delivery as part of the conversion obligation, be “restricted
securities” (within the meaning of Rule 144 or any successor provision in effect at such time), such shares of Common Stock (i) will be issued in physical, certificated form; (ii) will not be held in book-entry form through the
facilities of the Depositary; and (iii) will bear any restrictive legends the Company or the Transfer Agent deem necessary to comply with applicable law. 

Section 10.05 Adjustment of Conversion Rate. The Company will adjust the Conversion Rate from time to time as described in this
Section 10.05, except that the Company will not make an adjustment to the Conversion Rate if each Holder participates (other than in a share split or 

  
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share combination), at the same time and upon the same terms as holders of the Common Stock, and solely as a result of holding the Notes, in the relevant transaction described in this
Section 10.05 without having to convert its Notes and as if it held number of shares of the Common Stock equal to the product of (i) the Conversion Rate in effect on the applicable record date, Effective Date or expiration date, and
(ii) the aggregate principal amount of Notes held by such Holder (express in thousands) on such date, rounded up to the nearest whole number. 

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

 
 where 
  

					
	CR0	  	=	 	the Conversion Rate in effect immediately prior to the Open of Business on the Ex-Dividend Date of such dividend or distribution, or immediately prior to the Open of Business on the Effective Date of such share split or share
combination, as applicable;
			
	CR1	  	=	 	the Conversion Rate in effect immediately after the Open of Business on such Ex-Dividend Date or the Open of Business on such Effective Date, as the case may be;
			
	OS0	  	=	 	the number of shares of Common Stock outstanding immediately prior to the Open of Business on such Ex-Dividend Date or Effective Date, as the case may be; and
			
	OS1	  	=	 	the number of shares of Common Stock outstanding immediately after giving effect to such dividend, distribution, share split or share combination.

 If any dividend, distribution, share split or share combination of the type described in this Section 10.05(a) is
declared, but not so paid or made, the Conversion Rate will be immediately readjusted, effective as of the date the Board of Directors determines not to pay such dividend or distribution or to effect such share split or share combination, to the
Conversion Rate that would then be in effect if such dividend, distribution, share split or share combination had not been declared or announced. 

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

 
 where 
  

					
	CR0	  	=	  	the Conversion Rate in effect immediately prior to the Open of Business on the Ex-Dividend Date for such issuance;
			
	CR1	  	=	  	the Conversion Rate in effect immediately after the Open of Business on such Ex-Dividend Date;
			
	OS0	  	=	  	the number of shares of Common Stock outstanding immediately prior to the Open of Business on such Ex-Dividend Date;
			
	X	  	=	  	the total number of shares of Common Stock issuable pursuant to such rights, options or warrants; and
			
	Y	  	=	  	the number of shares of Common Stock equal to the quotient of (i) the aggregate price payable to exercise such rights, options or warrants, over (ii) the average of the Last Reported Sale Prices of the Common Stock over the 10
consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the date of announcement of the issuance of such rights, options or warrants.

 To the extent that shares of Common Stock are not delivered after the expiration of such rights, options or warrants,
including because the issued rights, options or warrants were not exercised, the Conversion Rate will be readjusted to the Conversion Rate that would then be in effect had the increase with respect to the issuance of such rights, options or warrants
been made on the basis of delivery of only the number of shares of Common Stock actually delivered. If such rights, options or warrants are not so issued, the Conversion Rate will be readjusted to the Conversion Rate that would then be in effect if
the Ex-Dividend Date for such issuance had not occurred. 
 For purposes of this Section 10.05(b), in determining whether any rights,
options or warrants entitle holders of the Common Stock to subscribe for, or purchase, shares of Common Stock at a price per share less than the average of the Last Reported Sale Prices of Common Stock for the 10 consecutive Trading Day period
ending on, and including, the Trading Day immediately preceding the date of announcement for an issuance, and in determining the aggregate price payable to exercise such rights, options or warrants, there will be taken into account any consideration
received by the Company for such rights, options or warrants and any amount payable on exercise thereof, the value of such consideration, if other than cash, to be determined by the Board of Directors. 

(c) Spin-Offs and Other Distributed Property. 

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

(A) dividends, distributions, rights, options or warrants for which an adjustment was effected pursuant to
Section 10.05(a) hereof or Section 10.05(b) hereof, as applicable; 
 (B) dividends or distributions paid
exclusively in cash for which an adjustment was effected pursuant to Section 10.05(d) hereof; and 
 (C) Spin-Offs for
which the provisions set forth in Section 10.05(c)(ii) hereof will apply, 
 then the Conversion Rate will be increased based on the following formula:

  
 

 
 where 
  

					
	CR0	  	=	  	the Conversion Rate in effect immediately prior to the Open of Business on the Ex-Dividend Date for such distribution;
			
	CR1	  	=	  	the Conversion Rate in effect immediately after the Open of Business on such Ex-Dividend Date;
			
	SP0	  	=	  	the average of the Last Reported Sale Prices of the Common Stock over the 10 consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the Ex-Dividend Date for such distribution; and
			
	FMV	  	=	  	the fair market value (as determined by the Company’s Board of Directors) of the shares of Capital Stock, evidences of indebtedness, assets, property, rights, options or warrants distributed with respect to each outstanding
share of Common Stock on the Ex-Dividend Date for such distribution.

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

  
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 If any distribution of the type described in this Section 10.05(c)(i) is not so paid or
made, or if any rights, options or warrants are not exercised before their expiration date, the Conversion Rate will be readjusted to be the Conversion Rate that would then be in effect if such distribution had not been declared. 

(ii) With respect to an adjustment pursuant to this Section 10.05(c) where there has been a payment of a dividend or other
distribution on the Common Stock of shares of Capital Stock of any class or series, or similar equity interest, of or relating to an Affiliate, a Subsidiary or other business unit of the Company, and such Capital Stock or similar equity interest is
listed or quoted (or will be listed or quoted upon the consummation of the transaction) on a national securities exchange or a reasonably comparable non-U.S. equivalent (a “Spin-Off”), the Conversion Rate will be increased based on
the following formula: 
  
 

 
 where 
  

					
	CR0	  	=	  	the Conversion Rate in effect immediately prior to the Open of Business on the Ex-Dividend Date for such Spin-Off;
			
	CR1	  	=	  	the Conversion Rate in effect immediately after the Open of Business on such Ex-Dividend Date;
			
	FMV0	  	=	  	the average of the Last Reported Sale Prices of the Capital Stock or similar equity interest distributed to holders of the Common Stock applicable to one share of Common Stock (determined for purposes of the definition of Last
Reported Sale Price as if such Capital Stock or similar equity interest were the Common Stock) over the first 10 consecutive Trading Day period after, and including, the Ex-Dividend Date of the Spin-Off (the “Valuation Period”);
and
			
	MP0	  	=	  	the average of the Last Reported Sale Prices of the Common Stock over the Valuation Period.

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

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

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

(d) Cash Dividends or Distributions. If any cash dividend or distribution (other than a distribution as to which an adjustment
to the Conversion Rate was effected pursuant to Section 10.05(e)) is made to all or substantially all holders of the Common Stock, the Conversion Rate will be increased based on the following formula: 

 
 

 
 where 
  

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

  
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	CR1	  	=	  	the Conversion Rate in effect immediately after the Open of Business on the Ex-Dividend Date for such dividend or distribution;
			
	SP0	  	=	  	the Last Reported Sale Price of the Common Stock on the Trading Day immediately preceding the Ex-Dividend Date for such dividend or distribution; and
			
	C	  	=	  	the amount in cash per share the Company distributes to holders of Common Stock.

 Notwithstanding the foregoing, if “C” (as defined above) is equal to or greater than “SP0” (as defined above), in lieu of the foregoing increase, each Holder will receive, for each $1,000 principal amount of Notes held on the record date for such cash dividend or distribution, at
the same time and upon the same terms as holders of the Common Stock, the amount of cash that such Holder would have received if such Holder had owned a number of shares of Common Stock equal to the Conversion Rate in effect on such record date. If
any dividend or distribution of the type described in this Section 10.05(d) is declared but not so paid or made, the Conversion Rate will be readjusted to the Conversion Rate that would then be in effect if such dividend or distribution had not
been declared. 
 (e) Tender Offers or Exchange Offers. If the Company or any Subsidiary makes a payment in respect of a
tender offer or exchange offer for the Common Stock, to the extent that the cash and value of any other consideration included in the payment per share of Common Stock exceeds the Last Reported Sale Price of the Common Stock on the Trading Day next
succeeding the last date on which tenders or exchanges may be made pursuant to such tender offer or exchange offer (as it may be amended), the Conversion Rate will be increased based on the following formula: 

 
 

 
 where 
  

					
	CR0	  	=	  	the Conversion Rate in effect immediately prior to the Expiration Time;
			
	CR1	  	=	  	the Conversion Rate in effect immediately after the Expiration Time;
			
	AC	  	=	  	the aggregate value of all cash and any other consideration (as determined by the Board of Directors) paid or payable for shares purchased in such tender or exchange offer;
			
	OS0	  	=	  	the number of shares of Common Stock outstanding immediately prior to the time (the “Expiration Time”) on the date such tender or exchange offer expires (prior to giving effect to the purchase of all shares accepted
for purchase or exchange in such tender or exchange offer);

  
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	OS1	  	=	  	the number of shares of Common Stock outstanding immediately after the Expiration Time (after giving effect to the purchase of all shares accepted for purchase or exchange in such tender or exchange offer); and
			
	SP1	  	=	  	the average of the Last Reported Sale Prices of the Common Stock over the 10 consecutive Trading Day period (the “Averaging Period”) commencing on the Trading Day next succeeding the date such tender or exchange
offer expires.

 The adjustment to the Conversion Rate pursuant to this Section 10.05(e) will be calculated as of the
Close of Business on the last Trading Day of the Averaging Period but will be given effect as of immediately after the Expiration Time, provided that (i) if the Company has not obtained Stockholder Approval, the Company will delay the
settlement of any conversion of Notes where the Conversion Date occurs during the Averaging Period until the third Business Day after the last day of the Averaging Period or (ii) if the Company has obtained Stockholder Approval, the Company
shall delay the settlement of any conversion of Notes where the Conversion Date (in the case of Physical Settlement) or any Trading Day of the applicable Observation Period (in the case of Cash Settlement or Combination Settlement) occurs during the
Averaging Period until the third Business Day after the last day of the Averaging Period. 
 (f) Successive Adjustments. After
an adjustment to the Conversion Rate under this Article 10, any subsequent event requiring an adjustment under this Article 10 will cause an adjustment to the Conversion Rate as so adjusted, without duplication. 

(g) Adjustments Not Yet Effective. If a Holder converts a Note and, as of the Conversion Date for such Note, any distribution or
transaction that requires an adjustment to the Conversion Rate pursuant to Sections 10.05(a) through (e) hereof has occurred but has not yet resulted in an adjustment to the Conversion Rate and the shares of Common Stock, if any, that such
Holder will receive upon settlement of its converted Note are not entitled to participate in the relevant distribution or transaction (because they were not held on a related record date or otherwise), then the Company will adjust the number of
shares of Common Stock that it delivers to such Holder to reflect the relevant distribution or transaction. 
 (h)
Conversion Rate Adjustments where Converting Holders Participate in the Relevant Dividend, Distribution or other Transaction. Notwithstanding anything to the contrary herein or in the Notes, if a Conversion Rate adjustment becomes effective
on any Ex-Dividend Date pursuant to Section 10.05, and a Holder that has converted its Notes on or after such Ex-Dividend Date and on or prior to the related record date would be treated, on such record date, as the record holder of the shares
of Common Stock, if any, issuable upon such conversion based on an adjusted Conversion Rate for such Ex-Dividend Date, then the Conversion Rate adjustment relating to such Ex-Dividend Date will not be made for such converting holder. Instead, such
Holder will be treated as if such Holder were, as of such record date, the record owner of such shares of Common Stock on an unadjusted basis and will participate in the related dividend, distribution or other event giving rise to such adjustment.
 

  
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 (i) Special Settlement Provisions. Notwithstanding anything to the contrary herein,
if the Company obtains Stockholder Approval and if a Holder converts a Note and: 
 (i) Combination Settlement is applicable to such
Note; 
 (ii) the Record Date, Effective Date or Expiration Date for any event that requires adjustment to the Conversion Rate pursuant to
Sections 10.05(a) through (e) occurs: 
 (A) on or after the first Trading Day of the applicable Observation Period; and

 (B) on or prior to the last Trading Day of such Observation Period; and 

(iii) the Daily Settlement Amount for any Trading Day in such Observation Period that occurs on or prior to such Record Date, Effective Date
or Expiration Date: 
 (A) includes shares of Common Stock that do not entitle their Holder to participate in such event; and

 (B) is calculated based on a Conversion Rate that is not adjusted on account of such event; 

then, on account of such conversion, the Company will, on such Record Date, Effective Date or Expiration Date, treat such Holder, as having converted such
Notes, as though it were the Record Holder of a number of shares of Common Stock equal to the total number of shares of Common Stock that: 

(i) are deliverable as part of the Daily Settlement Amount; 

(A) for a Trading Day in such Observation Period that occurs on or prior to such Record Date, Effective Date or Expiration
Date; and 
 (B) is calculated based on a Conversion Rate that is not adjusted for such event; and 

(ii) if not for this Section 10.05(i), would not entitle such Holder to participate in such event. 

(j) Shareholder Rights Plans. If the Company has a rights plan in effect when a Holder converts a Note, the Company will deliver
to such Holder, to the extent, if at all, such Holder receives any shares of Common Stock upon such conversion of such Note, any rights that, under the rights plan, would be applicable to a share of Common Stock, unless prior to the Conversion Date
for such Note, the rights have separated from the Common Stock, in which case, and only in such case, the Conversion Rate will be adjusted pursuant to Section 10.05(c)(i) as if, at the time of such separation, the Company had distributed to all
holders of the Common Stock shares of its Capital Stock, evidences of its indebtedness, other assets or property of the Company or rights, options or warrants to acquire its Capital Stock, subject to readjustment in the event of the expiration,
termination or redemption of such rights. 
 (k) Other Adjustments. Whenever any provision of this Indenture requires
the calculation of the Last Reported Sale Price or a function thereof over a period of multiple days (including any Observation Period and the Stock Price for purposes of a Make-Whole  

  
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Fundamental Change), the Company will make appropriate adjustments to the Last Reported Sale Price or such function thereof to account for any adjustment to the Conversion Rate that becomes
effective, or any event requiring an adjustment to the Conversion Rate where the Ex-Dividend Date, Effective Date or expiration date of the event occurs, at any time during such period. 

(l) Restrictions on Adjustments. Except as a result of a reverse share split or share combination subject to
Section 10.05(a), and except for readjustments pursuant to the last paragraph of Section 10.05(a), readjustments pursuant to the penultimate paragraph of Section 10.05(b), readjustments pursuant to the last paragraph of
Section 10.05(c)(i), readjustments pursuant to the penultimate paragraph of Section 10.05(c)(ii) and readjustments pursuant to the last paragraph of Section 10.05(d), in no event will the Conversion Rate be adjusted downward pursuant
to Sections 10.05(a), (b), (c), (d) or (e) hereof. 
 In addition, notwithstanding anything to the contrary elsewhere in this
Indenture, the Conversion Rate will not be adjusted: 
 (i) upon the issuance of any shares of Common Stock pursuant to any present or
future plan providing for the reinvestment of dividends or interest payable on the Company’s securities and the investment of additional optional amounts in shares of Common Stock under any plan; 

(ii) upon the issuance of any shares of Common Stock or options or rights to purchase those shares pursuant to any present or future employee,
director or consultant benefit plan or program of, or assumed by, the Company or any of its Subsidiaries; 
 (iii) upon the issuance of any
shares of Common Stock pursuant to any option, warrant, right or exercisable, exchangeable or convertible security not described in the preceding clause and outstanding as of the date of the Issue Date; 

(iv) upon the repurchase of any shares of Common Stock pursuant to an open-market share repurchase program or other buy-back transaction that
is not a tender offer or exchange offer subject to Section 10.05(e). 
 (v) for a change in the par value of the Common Stock; or 

(vi) for accrued and unpaid interest. 

(m) Deferral of Adjustments. The Company may defer any adjustment to the Conversion Rate unless such adjustment would increase
or decrease the Conversion Rate by at least 1% of the Conversion Rate in effect at the time the Company would otherwise be required to make such adjustment; provided, however, that if the Company defers an adjustment pursuant to this
Section 10.05(m), then the Company must carry forward such adjustment and take it into account in any future adjustment. Notwithstanding the foregoing, (i) on each Conversion Date (in the case of Physical Settlement) or on each Trading Day
of any Observation Period (in the case of Cash Settlement or Combination Settlement), (ii) on the occurrence of any Fundamental Change or Make-Whole Fundamental Change and (iii) on every one-year anniversary of the Issue Date, the Company
will give effect to all Conversion Rate adjustments that have otherwise been deferred pursuant to this Section 10.05(m), and such adjustments will no longer be carried forward and taken into account in any future adjustment. 

  
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 (n) Miscellaneous. 

(i) Certain Definitions. 

(I) For purposes of this Section 10.05, (1) the number of shares outstanding at any time will include shares issuable in respect of
scrip certificates issued in lieu of fractions of shares of Common Stock, but, (2) so long as the Company does not pay any dividend or make any distribution on shares of Common Stock held in the treasury of the Company, will not include shares
of Common Stock held in the treasury of the Company. 
 (II) For purposes of this Section 10.05, the term “Effective
Date” will mean the first date on which the Common Stock trades on the applicable exchange or in the applicable market, regular way, reflecting the relevant share split or share combination, as applicable. 

(III) For purposes of this Article 10, the term “Ex-Dividend Date” will mean the first date on which the shares of
the Common Stock trade on the applicable exchange or in the applicable market, regular way, without the right to receive the issuance, dividend or distribution in question. 

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

Whenever the Company adjusts the Conversion Rate pursuant to this Section 10.05, the Company will promptly deliver to each Holder a
written notice, which notice will include (i) a brief description of the event requiring adjustment to the Conversion Rate pursuant to this Section 10.05, (ii) the effective time of such adjustment, (iii) the Conversion Rate in
effect immediately after such adjustment is made and (iv) a schedule explaining, in reasonable detail, how the Company calculated such adjustment. On the same day the Company delivers such notice to each Holder, the Company will deliver to the
Trustee, the Paying Agent and the Conversion Agent an Officers’ Certificate that includes all of the information contained in such notice, which Officers’ Certificate each of the Trustee, the Paying Agent and the Conversion Agent may treat
as conclusive evidence that the adjustment specified in such Officers’ Certificate is correct and will be in effect as of the effective time specified in such Officers’ Certificate. The failure to deliver such notice will not affect the
legality or validity of any such adjustment. 

  
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 (iii) All calculations and other determinations in respect of the Conversion Rate shall be made
by the Company to the nearest 1/10000th of a share, with five-one-hundred-thousandths rounded upward. 
 Section 10.06 Voluntary
Adjustments. 
 (a) Best Interest Increases. The Company may, from time to time, to the extent permitted by law and the
rules of the New York Stock Exchange or any other securities exchange on which the Common Stock is then listed, increase the Conversion Rate by any amount if (i) the Board of Directors determines that such increase is in the best interest of
the Company, (ii) such increase is in effect for a period of at least 20 Business Days, and (iii) during such period, such increase is irrevocable. 

(b) Tax-Related Increases. The Company may (but is not required to) increase the Conversion Rate if the Board of Directors
determines that such increase is advisable to avoid, or diminish, any income tax imposed on holders of the Common Stock or rights to purchase the Common Stock as a result of any dividend or distribution of shares (or rights to acquire shares) or
similar event treated as such for U.S. federal income tax purposes. 
 (c) Notices. Whenever the Board of Directors determines
that the Company will increase the Conversion Rate pursuant to this Section 10.06, the Company will mail to the Trustee, Conversion Agent and to each Holder notice of such increase at least 15 Business Days before such increase will take
effect, which notice will state the increase to be made and the period during which such increase will be in effect. 
 Section 10.07
Adjustments Upon Certain Fundamental Changes. 
 (a) General. If (i) a Fundamental Change
(determined after giving effect to the paragraph immediately following clause (d) of the definition thereof, but without regard to the exclusion in clause (b)(ii) of the definition thereof) occurs or (ii) the Company calls the Notes for
redemption pursuant to Article 11 (either such event, a “Make-Whole Fundamental Change”), and a Holder converts its Notes in connection with such Make-Whole Fundamental Change, the Company will, in the circumstances described in
this Section 10.07, increase the Conversion Rate for such Notes by the number of additional shares of Common Stock (the “Additional Shares”) set forth in this Section 10.07. For purposes of this Section 10.07, a
conversion of Notes will be deemed to be “in connection with”: 
 (i) a Make-Whole Fundamental Change described in clause
(i) of the definition of “Make-Whole Fundamental Change” if (A) for Conversion Dates prior to April 1, 2019, the applicable Conversion Date occurs during the period when the Notes are convertible on account of such
Make-Whole Fundamental Change pursuant to Section 10.01(b)(iii)(B) and (B) for Conversion Dates on or after April 1, 2019 if the applicable Conversion Date occurs during the period from, and including, the effective date of the
Make-Whole Fundamental Change up to, and including, the Business Day immediately prior to the related Fundamental Change Repurchase Date (or, in the case of a Make-Whole Fundamental Change that would have been a Fundamental Change but for the
exclusion in clause (b)(ii) of the definition thereof, the 35th Trading Day immediately following the effective date of such Make-Whole Fundamental Change). 

  
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 (ii) a Make-Whole Fundamental Change described in clause (ii) of the definition of
“Make-Whole Fundamental Change” if the Conversion Notice for such Notes is received by the Conversion Agent during the period beginning on, and including, the Redemption Notice Date and ending on the Close of Business on the Business Day
immediately preceding the Redemption Date. 
 No later than one Business Day immediately after the effective date of a Make-Whole
Fundamental Change described in clause (i) of the definition of Make-Whole Fundamental Change contained in this Section 10.07, the Company will notify the Holders (with a copy to the Trustee and the Conversion Agent) of such effective date
and issue a press release announcing such effective date. 
 (b) Determination of Additional Shares. The number
of Additional Shares by which the Conversion Rate will be increased if a Holder converts a Note in connection with a Make-Whole Fundamental Change will be determined by reference to the table below, and will be based on the Make-Whole Fundamental
Change Effective Date and the Stock Price for such Make-Whole Fundamental Change. For any Make-Whole Fundamental Change, the “Make-Whole Fundamental Change Effective Date” will mean, (i) if such Make-Whole Fundamental Change is
of the type described in clause (i) of the definition of Make-Whole Fundamental Change contained in Section 10.07(a) hereof, the date on which such Make-Whole Fundamental Change occurs or becomes effective, and (ii) if such Make-Whole
Fundamental Change is of the type described in clause (ii) of the definition of Make-Whole Fundamental Change contained in Section 10.07(a) hereof, the applicable Redemption Notice Date. 

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

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

																																									
	 	  	Stock Price	 
	 Effective Date
	  	$4.41	 	  	$4.75	 	  	$5.62	 	  	$6.25	 	  	$7.31	 	  	$8.50	 	  	$10.00	 	  	$12.50	 	  	$15.00	 	  	$20.00	 
	 September 24, 2014
	  	 	48.9084	  	  	 	48.0621	  	  	 	43.5657	  	  	 	36.3735	  	  	 	27.8132	  	  	 	21.4370	  	  	 	16.1551	  	  	 	10.8927	  	  	 	7.8251	  	  	 	4.4941	  
	 October 1, 2015
	  	 	48.9084	  	  	 	45.7610	  	  	 	41.6671	  	  	 	34.2519	  	  	 	25.6039	  	  	 	19.3323	  	  	 	14.2861	  	  	 	9.4343	  	  	 	6.7004	  	  	 	3.8111	  
	 October 1, 2016
	  	 	48.9084	  	  	 	42.8615	  	  	 	38.8557	  	  	 	31.1959	  	  	 	22.5177	  	  	 	16.4711	  	  	 	11.8191	  	  	 	7.5847	  	  	 	5.3204	  	  	 	3.0121	  
	 October 1, 2017
	  	 	48.9084	  	  	 	39.7997	  	  	 	34.2418	  	  	 	26.3799	  	  	 	17.8898	  	  	 	12.3723	  	  	 	8.4561	  	  	 	5.2255	  	  	 	3.6411	  	  	 	2.0901	  
	 October 1, 2018
	  	 	48.9084	  	  	 	35.4624	  	  	 	26.0443	  	  	 	18.1879	  	  	 	10.6039	  	  	 	6.4617	  	  	 	4.0661	  	  	 	2.4863	  	  	 	1.8011	  	  	 	1.0986	  
	 October 1, 2019
	  	 	48.9084	  	  	 	29.9476	  	  	 	0.0000	  	  	 	0.0000	  	  	 	0.0000	  	  	 	0.0000	  	  	 	0.0000	  	  	 	0.0000	  	  	 	0.0000	  	  	 	0.0000	  

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

(A) if the Stock Price is between two Stock Prices in the table or the Make-Whole Fundamental Change Effective Date is between
two Make-Whole Fundamental Change Effective Dates in the table, the number of Additional Shares by which the Conversion Rate will be increased for a Holder that converts a Note in connection with such Make-Whole Fundamental Change will be determined
by a straight-line interpolation between the numbers of Additional Shares set forth for the higher and lower Stock Prices listed in the table and the earlier and later Make-Whole Fundamental Change Effective Dates listed in the table, as applicable,
based on a 365- or 366-day year, as applicable; 
 (B) if the Stock Price is greater than $20.00, subject to adjustment in
the same manner as the Stock Prices set forth in the column headings of the table, no Additional Shares will be added to the Conversion Rate; and 

(C) if the Stock Price is less than $4.41 per share, subject to adjustment in the same manner as the Stock Prices set forth in
the column headings of the table, no Additional Shares will be added to the Conversion Rate. 
 Notwithstanding the foregoing, in no event will the
Conversion Rate be increased as a result of this Section 10.07 to exceed 226.7573 shares of Common Stock per $1,000 principal amount of Notes, subject to adjustment in the same manner, at the same time and for the same events for which the
Conversion Rate must be adjusted as set forth in Section 10.05 hereof. 
 (f) Settlement or Conversion. If a Holder
converts a Note in connection with a Make-Whole Fundamental Change, the Company will settle such conversion by delivering Conversion Consideration in accordance with Section 10.03 hereof; provided, however, that notwithstanding
anything to the contrary in Section 10.03 hereof, if a Holder converts a Note in connection with a Make-Whole Fundamental Change described in clause (b)(ii) of the definition of Fundamental Change in which the holders of the Common Stock
receive only cash in consideration for their shares of Common Stock, the Company will settle such conversion by delivering to such Holder, on the third Business Day immediately following the Conversion Date for such Note, an amount of cash, for each
$1,000 principal amount of such Note converted, equal to the product of (i) the Conversion Rate on the Conversion Date applicable to such Note (including any Additional Shares added to such Conversion Rate pursuant to this Section 10.07)
and (ii) the Stock Price for such Make-Whole Fundamental Change. 
 Section 10.08 Effect of Recapitalization,
Reclassification, Consolidation, Merger or Sale. 

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

 

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

 

	 	(2)	any consolidation, merger, combination or similar transaction involving the Company; 

  

	 	(3)	any sale, lease or other transfer to a third party of substantially all of the consolidated assets of the Company and its Subsidiaries substantially as an entirety; or 

 

	 	(4)	any statutory share exchange, 

 and, in each case, as a result of which the Common Stock would be
converted into, or exchanged for, stock, other securities, other property or assets (including cash or any combination thereof) (any such event, a “Share Exchange Event” and any such stock, other securities or other property or
assets, “Reference Property,” and the amount of Reference Property that a holder of one share of Common Stock immediately prior to such Share Exchange Event would have been entitled to receive upon the occurrence of such Share
Exchange Event, “Unit of Reference Property”), then the Company or the successor or purchasing company, as the case may be, shall execute with the Trustee a supplemental indenture providing that, at and after the effective time of
such transaction, the Notes will become convertible into Reference Property. However, at and after the effective time of such Share Exchange Event, (i) if the Company has not obtained Stockholder Approval prior to the relevant Conversion Date
(or, if earlier, the 45th Scheduled Trading Day immediately preceding the Maturity Date), for each share of Common Stock that the Company would otherwise be obligated to deliver with respect to such conversion, the Company will instead deliver a
Unit of Reference Property and (ii) if the Company has obtained Stockholder Approval prior to the relevant Conversion Date (or, if earlier, the 45th Scheduled Trading Day immediately preceding the Maturity Date), the amount of cash (if any) and
the number of Units of Reference Property (if any) that the Company will deliver will be determined in accordance with Section 10.03(a)(iii) (and the definitions contained therein), except that for any Trading Day during the relevant
Observation Period in the case of Cash Settlement or Combination Settlement, (a) the Daily VWAP for such Trading Day shall be calculated based on the value of a Unit of Reference Property on such Trading Day; and (b) for each share of
Common Stock that the Company would otherwise be obligated to deliver on such Trading Day, will instead deliver a Unit of Reference Property. 

If a Share Exchange Event causes the Common Stock to be converted into, or exchanged for, the right to receive more than a single type of
consideration (determined based in part upon any form of stockholder election), then (i) the Reference Property shall be deemed to be (a) the weighted average of the types and amounts of consideration received by the holders of Common
Stock that affirmatively make such an election or (b) if no holders of the Common Stock affirmatively make such an election, the types and amounts of consideration actually received by the holders of the Common Stock, and (ii) the Unit of
Reference Property for purposes of the immediately preceding paragraph shall refer to the consideration referred to in clause (i) attributable to one share of Common Stock. The Company shall notify Holders, the Trustee and the Conversion Agent
(if other than the Trustee) of such weighted average (if applicable) as soon as practicable after such determination is made. 

  
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 Such supplemental indenture described in the second immediately preceding paragraph shall provide
(i) to the extent the Reference Property is comprised, in whole or in part, of Common Equity securities, for anti-dilution and other adjustments that are as nearly equivalent as possible to the adjustments provided for in this Article 10 and
(ii) with respect to any Reference Property other than Common Equity securities and cash, such anti-dilution adjustments (if any) that the Company reasonably considers appropriate in its good faith determination. If the Reference Property in
respect of any Share Exchange Event includes shares of stock, securities or other property or assets of a Person other than the Company or the successor or purchasing company, as the case may be, in such Share Exchange Event, 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 Notes, including the right of Holders to require the Company to purchase their Notes upon a Fundamental
Change pursuant to Article 3, as the Company shall reasonably consider necessary by reason of the foregoing. 
 If the Company executes a
supplemental indenture pursuant to this Section 10.08, as promptly as practicable, the Company shall file with the Trustee an Officer’s Certificate briefly describing such Share Exchange Event, the composition of a Unit of Reference
Property for such Share Exchange Event, any adjustment to be made with respect thereto and that all conditions precedent to such Share Exchange Event under this Indenture have been complied with. Any failure to deliver such Officer’s
Certificate shall not affect the legality or validity of such supplemental indenture. 
 None of the foregoing provisions shall affect the
right of a Holder to convert its Notes as set forth in Section 10.01 and Section 10.02 prior to the effective date of such Share Exchange Event. 

(b) Notices. 
 (i) As
soon as practicable upon learning the anticipated or actual effective date of any Share Exchange Event, the Company will deliver written notice of such Share Exchange Event to each Holder and the Trustee and Conversion Agent, if not the Trustee.
Such Notice will include: 
 (A) a brief description of such Share Exchange Event; 

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

(C) the anticipated effective date for the Share Exchange Event; 

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

  
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 (E) the composition of the Reference Property Unit for such Share Exchange Event.

 (ii) As promptly as practicable after executing a supplemental indenture in accordance with Section 10.08(a) hereof, the Company
will: 
 (A) file with the Trustee an Officers’ Certificate briefly describing the reasons therefor, the composition of
the Reference Property Unit for such Share Exchange Event, any adjustment to be made with respect thereto and that all conditions precedent under this Indenture to such Share Exchange Event have been complied with; and 

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

(c) Successive Share Exchange Events. If more than one Share Exchange Event occurs, this Section 10.08 will apply
successively to each Share Exchange Event. 
 (d) Compliance Covenant. The Company will not become a party to any Share
Exchange Event unless its terms are consistent with this Section 10.08. 
 Section 10.09 No Responsibility of Trustee or
Conversion Agent. The Trustee and the Conversion Agent will not have any duty or responsibility to any Holder to determine whether any facts exist that require an adjustment of the Conversion Rate, or with respect to the nature or extent or
calculation of any such adjustment when made, or with respect to the method employed in making the same. Neither the Trustee nor the Conversion Agent will be responsible for any failure of the Company to deliver the Conversion Consideration due upon
the surrender of any Notes for the purpose of conversion or to comply with any of the duties, responsibilities or covenants of the Company contained in this Article 10. Without limiting the generality of the foregoing, neither the Trustee nor the
Conversion Agent will be under any responsibility to determine the correctness of any provisions contained in any supplemental indenture entered into pursuant to Section 10.08 hereof, including with respect to the calculation of the amount of
Conversion Consideration receivable by Holders upon the conversion of their Notes after any Share Exchange Event, and each, subject to the provisions of Article 7, may accept as conclusive evidence of the correctness of any such provisions, and will
be protected in relying upon, the Officers’ Certificate (which the Company will be obligated to file with the Trustee prior to the execution of any such supplemental indenture) with respect thereto. The Conversion Agent (if other than the
Company or an Affiliate of the Company) shall have the same protection under this Section 10.09 as the Trustee. Neither the Trustee nor the Conversion Agent shall be responsible for determining whether any event contemplated by
Section 10.01(b) has occurred that makes the Notes eligible for conversion or no longer eligible therefor until the Company has delivered to the Trustee and the Conversion Agent written notice thereof with respect to the commencement or
termination of such conversion rights, on which notices the Trustee and the Conversion Agent may conclusively rely, and the Company agrees to deliver such notices to the Trustee and the Conversion Agent as soon as reasonably practicable after the
occurrence of any such event or at such other times as shall be provided for in Section 10.01(b), or in the case of Section 10.01(b)(i), after the Company has actual knowledge thereof. 

  
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 ARTICLE 11 

REDEMPTION AT THE OPTION OF THE COMPANY 

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

Section 11.02 Right To Redeem the Notes. 

(a) General. Prior to October 1, 2017, the Company may not redeem the Notes. On or after October 1,
2017, and prior to the Maturity Date, the Company may redeem (a “Redemption”) all, but not less than all, of the Notes on the Redemption Date for an amount of cash equal to the Redemption Price for such Redemption Date if the Last
Reported Sale Price of the Common Stock equals or exceeds 130% of the Conversion Price in effect on each of at least 20 Trading Days during the 30 consecutive Trading Day period ending on the Trading Day immediately preceding the date on which the
Company delivers the Redemption Notice for such redemption pursuant to Section 11.03 hereof. 
 (b) The
“Redemption Price” means, for any Notes to be redeemed on a Redemption Date, a price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest, if any, on such Notes to, but excluding, such
Redemption Date; provided, however, that if a Redemption Date occurs after a Regular Record Date, but on or prior to the Interest Payment Date corresponding to such Regular Record Date, the Redemption Price
for any Notes to be redeemed will equal 100% of the principal amount of such Notes, and accrued and unpaid interest, if any, on such Notes to, but excluding, such Interest Payment Date will be payable, on such Interest Payment Date, to the Holder of
such Notes at the Close of Business on such Regular Record Date. 
 (c) The “Redemption Date” means, for any
redemption, the date specified as such on the Redemption Notice for such redemption, which date must be a Business Day and must be not less than 45 Scheduled Trading Days, nor more than 60 Scheduled Trading Days, immediately following the date on
which the Company delivers such Redemption Notice. 
 Section 11.03 Redemption Notice. At least 45
Scheduled Trading Days but not more than 60 Scheduled Trading Days prior to any Redemption Date, the Company will send to each Holder (with a copy to the Trustee) a written notice of redemption (the “Redemption Notice,” and the date
of such sending, the “Redemption Notice Date”) and, substantially contemporaneously therewith, the Company will issue a press release announcing such redemption. 

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

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

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

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

(E) that Notes called for redemption may be converted at any time before the Close of Business on the Business Day immediately
preceding the Redemption Date; 
 (F) the Conversion Rate in effect on the Redemption Notice Date for such redemption and the
Last Reported Sale Price of the Common Stock on the Trading Day immediately preceding the Redemption Notice Date; 
 (G) any
Additional Shares by which the Conversion Rate will be increased pursuant to Section 10.07 hereof for a Holder that converts a Note “in connection with” the Company’s election to redeem the Notes; 

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

(I) that, unless the Company defaults in paying the Redemption Price on the Redemption Date, interest, if any, on a Note will
cease to accrue on and after the Redemption Date; and 
 (J) the CUSIP and ISIN number(s) of the Notes. 

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

Section 11.04 Effect of Redemption Notice. After the Company has delivered a Redemption Notice, each Holder will have the
right to receive payment of the Redemption Price for its Notes on the later of (i) the Redemption Date and (ii)(a) if the Notes are Definitive Notes, delivery of its Notes to the Paying Agent or (b) if the Notes are Global Notes,
compliance with the Applicable Procedures relating to the redemption and delivery of the beneficial interests to be redeemed to the Paying Agent; provided, however, that, until the Close of Business on the second Business Day
immediately preceding such Redemption Date, Holders may convert their Notes, regardless of whether they have been delivered to the Paying Agent for redemption, by complying with the requirements for conversion set forth in Article 10. 

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

  
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 Section 11.06 Effect of Deposit. If, as of 11:00 a.m., New York City time, on any
Redemption Date, the Company, in accordance with Section 11.05 hereof, has deposited with the Paying Agent money sufficient to pay the Redemption Price for every Note validly delivered in accordance with Section 11.04 hereof (and not
converted before such Redemption Date), then, on such Redemption Date: 
 (A) every Note outstanding on such Redemption Date
will cease to be outstanding and interest, if any, on such Notes will cease to accrue (regardless of whether such Notes were delivered to the Paying Agent or book-entry transfer has been made, as applicable), except to the extent provided in the
proviso to Section 11.02(b); and 
 (B) all other rights of the Holders of such Notes with respect to such Notes (other
than the right to receive payment of the Redemption Price or, in the case of Notes surrendered for conversion in accordance with Article 10 hereof, the right to receive the Conversion Consideration due upon conversion of such Notes, and other than
as provided in the proviso to Section 11.02(b)) will terminate. 
 Section 11.07 Covenant Not to Redeem Notes Upon Certain
Events of Default. 
 (a) General. Notwithstanding anything to the contrary in this Article 11, the Company will not
redeem any Notes under this Article 11 if the principal amount of the Notes has been accelerated and such acceleration has not been rescinded on, or prior to, the Redemption Date (except in the case of an acceleration resulting from a default by the
Company that would be cured by the Company’s payment of the Redemption Price for such Notes). 
 (b) Return of
Notes. If a Holder delivers a Note for redemption pursuant to Section 11.04 and, on the Redemption Date, pursuant to this Section 11.07, the Company is not permitted to redeem such Note, the Paying Agent will (i) if such Note is a
Definitive Note, return such Note to such Holder, and (ii) if such Note is held in book-entry form, in compliance with the Applicable Procedures, deem to cancel any instructions for book-entry transfer of such Note. 

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

  
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 ARTICLE 12 

MISCELLANEOUS 

Section 12.01 Reserved. 

Section 12.02 Notices. Any request, demand, authorization, notice, waiver, consent or communication will be in writing and
delivered in Person or mailed by first-class mail, postage prepaid, addressed as follows or transmitted by electronic transmission or other similar means of unsecured electronic methods to the following: 

if to the Company: 
 Violin
Memory, Inc. 
 4555 Great America Parkway 

Santa Clara, California 

Facsimile: [—] 

Attn: General Counsel 
 with a
copy to (which shall not constitute notice): 
 Pillsbury Winthrop Shaw Pittman LLP 

2550 Hanover Street 
 Palo Alto,
California 94304 
 Facsimile: (650) 233-4545 

Attention: James J. Masetti 
 if
to the Trustee, Registrar, Paying Agent or Conversion Agent: 
 Wilmington Trust, National Association 

Global Corporate Capital Markets 

50 South Sixth Street, Suite 1290 

Minneapolis, MN 55402 
 Facsimile:
(612) 217-5651 
 Attn: Violin Memory Administrator 

The Company or the Trustee, by notice given to the other in the manner provided above, may designate additional or different addresses for
subsequent notices or communications. Any notice, direction, request or demand hereunder to or upon the Trustee shall be deemed to have been sufficiently given or made, for all purposes, if it is in writing and actually received by the Trustee,
addressed as provided above or sent electronically in PDF format. 
 Any notice or communication given to a Holder will be mailed to
the Holder, by first class mail, postage prepaid, at the Holder’s address as it appears on the registration books of the Registrar and will be deemed given on the date of such mailing; provided, however, that with respect to any
Global Note, such notice or communication will be sent to the Holder thereof pursuant to the Applicable Procedures. 
 Failure to
mail or send a notice or communication to a Holder or any defect in it will not affect its sufficiency with respect to other Holders. If a notice or communication is mailed or sent in the manner provided above, it is duly given, whether or not
received by the addressee. 
 If the Company mails or sends a notice or communication to the Holders, it will, at the same time, mail a copy
to the Trustee and each of the Registrar, Paying Agent and Conversion Agent. 
 If the Company is required under this Indenture to give a
notice to the Holders, in lieu of delivering such notice to the Holders, the Company may deliver such notice to the Trustee and 

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

Section 12.03 Certificate and Opinion as to Conditions Precedent. Upon any request or application by the Company to the Trustee to
take any action under this Indenture other than the authentication of the initial Global Note on the Issue Date, the Company will furnish to the Trustee: 

(a) an Officers’ Certificate stating that, in the judgment or opinion of the signers, all conditions precedent, if any, provided for in
this Indenture relating to the proposed action have been complied with; and 
 (b) an Opinion of Counsel stating that, in the judgment or
opinion of such counsel, all such conditions precedent relating to the proposed action (to the extent of legal conclusions and subject to reasonable assumptions and exclusions) have been complied with. 

Section 12.04 Statements Required in Certificate or Opinion. Each Officers’ Certificate or Opinion of Counsel with respect to
compliance with a covenant or condition (except for such Officers’ Certificate required to be delivered pursuant to Section 4.05 hereof) provided for in this Indenture will include: 

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

(b) a brief statement as to the nature and scope of the examination or investigation upon which the statements, judgments or opinions
contained in such Officers’ Certificate or Opinion of Counsel are based; 
 (c) a statement that, in the judgment or opinion of each
such Person, he has made such examination or investigation as is necessary to enable such Person to express an informed judgment or opinion to whether or not such covenant or condition has been complied with; and 

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

Section 12.05 Separability Clause. In case any provision in this Indenture or in the Notes will be invalid, illegal or
unenforceable, the validity, legality and enforceability of the remaining provisions will not in any way be affected or impaired thereby. 

Section 12.06 Rules by Trustee. The Trustee may make reasonable rules for action by, or a meeting of, Holders. 

Section 12.07 Governing Law and Waiver of Jury Trial. THE INDENTURE AND EACH NOTE WILL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE
WITH, THE LAWS OF THE STATE OF NEW YORK. EACH OF THE COMPANY AND THE 

  
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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
NOTES OR THE TRANSACTION CONTEMPLATED HEREBY. 
 Section 12.08 No Recourse Against Others. A director, officer, employee or
stockholder, as such, of the Company will not have any liability for any obligations of the Company under the Notes or this Indenture or for any claim based on, in respect of or by reason of such obligations or their creation. By accepting a Note,
each Holder will waive and release all such liability. The waiver and release will be part of the consideration for the issuance of the Notes. 

Section 12.09 Calculations. Except as otherwise provided in this Indenture, the Company will be responsible for making all
calculations called for under the Notes and this Indenture. These calculations include, but are not limited to, determinations of the Last Reported Sale Price of the Common Stock or any other security, the Daily Settlement Amounts, the Daily
Conversion Values, accrued interest payable on the Notes and the Conversion Rate in effect on any Conversion Date. 
 The Company will make
all calculations in good faith and, absent manifest error, its calculations will be final and binding on all Holders. The Company will provide a schedule of its calculations to each of the Trustee and the Conversion Agent, and each of the Trustee
and Conversion Agent is entitled to rely conclusively upon the accuracy of the Company’s calculations without independent verification. If any Holder requests in writing from the Trustee a copy of such schedule, the Trustee will promptly
forward a copy of such schedule to such Holder. 
 All calculations will be made to the nearest cent or to the nearest 1/10,000th of a
share, as the case may be, with 5/100,000ths rounded upward. 
 Section 12.10 Successors. All agreements of the Company, the
Trustee, the Registrar, the Paying Agent and the Conversion Agent in this Indenture and the Notes will bind their respective successors. 

Section 12.11 Multiple Originals. The parties may sign any number of copies of this Indenture. Each signed copy will be an
original, but all of them together represent the same agreement. One signed copy is enough to prove this Indenture. The exchange of copies of this Indenture and of signature pages by facsimile or PDF transmission will constitute effective execution
and delivery of this Indenture as to the parties hereto and may be used in lieu of the original Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile or PDF will be deemed to be their original signatures for all
purposes. 
 Section 12.12 Table of Contents; Headings. The table of contents and headings of the articles and sections of this
Indenture have been inserted for convenience of reference only, are not intended to be considered a part hereof, and will not modify or restrict any of the terms or provisions hereof. 

  
 - 87 - 

 Section 12.13 Force Majeure. The Trustee, Registrar, Paying Agent and Conversion
Agent will not incur any liability for not performing any act or fulfilling any duty, obligation or responsibility hereunder by reason of any occurrence beyond the control of such Person (including, but not limited to, any act or provision of any
present or future law or regulation or governmental authority, any act of God or war, civil unrest, local or national disturbance or disaster, any act of terrorism, or the unavailability of the Federal Reserve Bank wire or facsimile or other wire or
communication facility). 
 Section 12.14 Submission to Jurisdiction. The Company: (a) agrees that any suit, action or
proceeding against it arising out of or relating to this Indenture or the Notes, as the case may be, may be instituted in any U.S. federal court with applicable subject matter jurisdiction sitting in The City of New York; (b) waives, to the
fullest extent permitted by applicable law, any objection which it may now or hereafter have to the laying of venue of any such suit, action or proceeding, and any claim that any suit, action or proceeding in such a court has been brought in an
inconvenient forum; and (c) submits to the nonexclusive jurisdiction of such courts in any suit, action or proceeding. 

Section 12.15 Legal Holidays. If the Maturity Date or any Interest Payment Date, Fundamental Change Repurchase Date, Redemption
Date or Conversion Date is not a Business Day (which, solely for the purposes of any payment required to be made on any such date shall also not include days in which the office where the place of payment is authorized or required by law to close),
then any action to be taken on such date need not be taken on such date, but may be taken on the immediately following Business Day with the same force and effect as if taken on such date, and no interest will accrue for the period from and after
such date. 
 Section 12.16 No Security Interest Created. Except as provided in Section 7.06 or 9.01(b) hereof, nothing in
this Indenture or in the Notes, expressed or implied, will be construed to constitute a security interest under the Uniform Commercial Code or similar legislation, as now or hereafter enacted and in effect, in any jurisdiction. 

Section 12.17 Benefits of Indenture. Nothing in this Indenture or in the Notes, expressed or implied, will give to any Person,
other than the parties hereto, any Paying Agent, Conversion Agent, Registrar, and their successors hereunder, and the Holders any benefit or any legal or equitable right, remedy or claim under this Indenture. 

Section 12.18 U.S.A. Patriot Act. The parties hereto acknowledge that in accordance with Section 326 of the U.S.A. Patriot
Act, the Trustee, like all financial institutions, in order to help fight the funding of terrorism and money laundering, is required to obtain, verify and record information that identifies each person or legal entity that establishes a relationship
or opens an account with the Trustee. The parties to this Indenture agree that they will provide the Trustee with such information as it may request in order for the Trustee to satisfy the requirements of the U.S.A. Patriot Act. 

[Signature Pages Follow] 

  
 - 88 - 

 IN WITNESS WHEREOF, Violin Memory, Inc. has executed this Indenture as of the day and year first
written above. 
  

			
	VIOLIN MEMORY, INC., as Issuer
		
	By:	 	  

		 	Name:
		 	Title:

  
 Signature Page –
Violin Memory, Inc. 4.25% Convertible Senior Notes Indenture 

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

			
	WILMINGTON TRUST, NATIONAL ASSOCIATION, as Trustee
		
	By:	 	  

		 	Name:
		 	Title:

  
 Signature Page –
Violin Memory, Inc. 4.25% Convertible Senior Notes Indenture 

 EXHIBIT A 

FORM OF NOTE 
 [FORM OF FACE
OF NOTE] 
 NO AFFILIATE (AS DEFINED IN RULE 144 UNDER THE SECURITIES ACT) OF THE COMPANY, OTHER THAN A SUBSIDIARY OF THE COMPANY, MAY
PURCHASE OR OTHERWISE ACQUIRE THIS NOTE OR ANY BENEFICIAL INTEREST HEREIN. 
 [Include the following legend for Global
Notes only (the “Global Notes Legend”):] 
 THIS IS A GLOBAL NOTE WITHIN THE MEANING OF THE
INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF THE DEPOSITARY OR A NOMINEE OF THE DEPOSITARY, WHICH MAY BE TREATED BY THE COMPANY, THE TRUSTEE AND ANY AGENT THEREOF AS OWNER AND HOLDER OF THIS NOTE FOR ALL PURPOSES. 

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY TO THE COMPANY OR ITS AGENT FOR
REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (AND ANY PAYMENT HEREON
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE
REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 TRANSFERS OF THIS GLOBAL NOTE WILL BE LIMITED TO TRANSFERS IN
WHOLE, BUT NOT IN PART, TO NOMINEES OF THE DEPOSITORY TRUST COMPANY, OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE, AND TRANSFERS OF PORTIONS OF THIS GLOBAL NOTE WILL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET
FORTH IN ARTICLE 2 OF THE INDENTURE REFERRED TO ON THE REVERSE HEREOF. 
 [Include the following legend on all Notes that
are Restricted Notes (the “Restricted Notes Legend”):] 
 THE SALE OF THIS NOTE HAS NOT BEEN REGISTERED
UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, PRIOR TO THE RESALE RESTRICTION TERMINATION DATE (AS DEFINED BELOW), THIS NOTE (AND ANY BENEFICIAL INTEREST HEREIN) MAY NOT BE OFFERED, RESOLD OR
OTHERWISE TRANSFERRED, EXCEPT: 
  

	 	(A)	TO THE COMPANY OR ANY SUBSIDIARY THEREOF; 

  
 A-1 

	 	(B)	PURSUANT TO A REGISTRATION STATEMENT THAT HAS BECOME EFFECTIVE UNDER THE SECURITIES ACT; 

  

	 	(C)	TO A PERSON THAT YOU REASONABLY BELIEVE TO BE A QUALIFIED INSTITUTIONAL BUYER AND IN COMPLIANCE WITH RULE 144A UNDER THE SECURITIES ACT; OR 

 

	 	(D)	UNDER ANY OTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT (INCLUDING, IF AVAILABLE, THE EXEMPTION PROVIDED BY RULE 144 UNDER THE SECURITIES ACT). 

THE “RESALE RESTRICTION TERMINATION DATE” MEANS THE DATE: (A) THAT IS AT LEAST ONE YEAR AFTER THE LAST ORIGINAL ISSUE DATE OF THE
COMPANY’S 4.25% CONVERTIBLE SENIOR NOTES DUE 2019; AND (B) ON WHICH THE COMPANY HAS INSTRUCTED THE TRUSTEE THAT THIS LEGEND WILL NO LONGER APPLY, IN ACCORDANCE WITH THE PROCEDURES DESCRIBED IN THE INDENTURE FOR THE NOTES. 

PRIOR TO ANY TRANSFER PURSUANT TO THE FOREGOING CLAUSE (D), THE COMPANY AND THE TRUSTEE RESERVE THE RIGHT TO REQUIRE THE DELIVERY OF SUCH CERTIFICATIONS,
LEGAL OPINIONS OR OTHER INFORMATION AS THEY MAY REASONABLY REQUIRE AND MAY RELY UPON 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
AND APPLICABLE SECURITIES LAWS OF ANY OTHER JURISDICTION. NO REPRESENTATION IS MADE AS TO THE AVAILABILITY OF ANY EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. 

  
 A-2 

			
	 No.:
  
	 	[            ]
	 CUSIP:
  
	 	[            ]*
	ISIN:	 	[            ]*

 Principal Amount $[            ] 

[as revised by the Schedule of Increases 

and Decreases of Global Note attached hereto]1 

Violin Memory, Inc. 

4.25% Convertible Senior Notes due 2019 

Violin Memory, Inc., a Delaware corporation, promises to pay to
[            ],2 or registered assigns, the principal amount of
$[            ] [(as revised by the Schedule of Increases and Decreases of Global Note attached hereto)]3 on
October 1, 2019. 
 Interest Payment Dates: April 1 and October 1 of each year, beginning [April 1, 2015]. 

Regular Record Dates: March 15 and September 15 of each year, beginning [March 15, 2015]. 

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

 

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

 

	1 	Include for Global Notes only. 

	2 	Insert Cede & Co. for Global Notes. 

	3 	Include for Global Notes only. 

  
 A-3 

 
			
	VIOLIN MEMORY, INC.
		
	By:	 	  

		 	Name:
		 	Title:
		 	Dated:

  
 Signature Page –
Violin Memory, Inc. 4.25% Convertible Senior Note 

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

WILMINGTON TRUST, NATIONAL ASSOCIATION, as Trustee, certifies that this is one of
the Notes referred to in the within-mentioned Indenture. 
  

			
	By:	 	  

		 	Authorized Signatory
		 	Dated:

  
 Certificate of
Authentication – Violin Memory, Inc. 4.25% Convertible Senior Note 

 [FORM OF REVERSE OF NOTE] 

VIOLIN MEMORY, INC. 
 4.25%
Convertible Senior Notes due 2019 
 This Note is one of a duly authorized issue of notes of Violin Memory, Inc. (the
“Company”), designated as its 4.25% Convertible Senior Notes due 2019 (the “Notes”), all issued or to be issued under and pursuant to an indenture dated as of the Issue Date (the “Indenture”),
between the Company and Wilmington Trust, National Association (the “Trustee”), to which Indenture and all indentures supplemental thereto reference is hereby made for a description of the rights, limitations of rights, obligations,
duties and immunities thereunder of the Trustee, the Company and the Holders. Capitalized terms used herein and not defined herein have the meanings ascribed to them in the Indenture, and the terms of the Notes include those stated in the Indenture
and those incorporated into the Indenture. Notwithstanding anything herein to the contrary, to the extent that any provision of this Note conflicts with the express provisions of the Indenture, the provisions of the Indenture will govern and
control. 
  

	1.	Interest. 

 This Note will bear interest at a rate equal to 4.25% per annum.
Interest on this Note will accrue from the most recent date to which interest has been paid or provided for, or, if no interest has been paid or provided for, the Issue Date. Interest will be payable semiannually in arrears on April 1 and
October 1 of each year, beginning on [April 1, 2015]. Each payment of cash interest on this Note will include interest accrued for the period commencing on and including the immediately preceding Interest Payment Date (or, if none, the Issue
Date) through, and including, the day before the applicable Interest Payment Date. 
 Pursuant to Section 4.04 of the Indenture, in
certain circumstances, the Company will pay Additional Interest on this Note. 
 Pursuant to Section 6.04 of the Indenture, in certain
circumstances, the Company will pay an Extension Fee on this Note. 
 Pursuant to Section 2.04 of the Indenture, in certain
circumstances, the Company will pay Default Interest on Defaulted Amounts with respect to this Note. 
  

	2.	Method of Payment. 

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

  
 A-6 

	3.	Paying Agent, Conversion Agent and Registrar. 

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

 

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

 At the
option of the Holder, and subject to the terms and conditions of the Indenture, upon the occurrence of a Fundamental Change, each Holder will have the right, at its option, to require the Company to repurchase for cash all of its Notes, or any
portion of its Notes having a principal amount equal to $1,000 or an integral multiple of $1,000 in excess thereof, at a Fundamental Change Repurchase Price equal to 100% of the principal amount of Notes to be purchased plus accrued and unpaid
interest, if any, to but excluding, the Fundamental Change Repurchase Date, unless the Fundamental Change Repurchase Date occurs after a Regular Record Date and on or prior to the Interest Payment Date corresponding to such Regular Record Date, in
which case the Company will pay the accrued and unpaid interest on such Notes, on such Interest Payment Date, to the Holder of such Notes as of the Close of Business on such Regular Record Date, and the Fundamental Change Repurchase Price shall not
include such accrued and unpaid interest. To exercise its purchase right, a Holder must comply with the procedures set forth in Article 3 of the Indenture. 
  

	5.	Redemption at the Option of the Company. 

 Prior to October 1, 2017, the Company may
not redeem the Notes. Subject to the terms of the Indenture, on or after October 1, 2017, and prior to the Maturity Date, the Company may redeem all, but not less than all, of the Notes if the Last Reported Sale Price of the Common Stock equals
or exceeds 130% of the Conversion Price in effect on each of at least 20 Trading Days during the 30 consecutive Trading Day period ending on the Trading Day immediately prior to the date the Company delivers the Redemption Notice for such
redemption. Any Redemption Date must be at least 45 Scheduled Trading Days, but not more than 60 Scheduled Trading Days, after the date on which the Company delivers the applicable Redemption Notice. The Redemption Price that the Company will pay
for any Notes that it redeems will equal to 100% of the principal amount of Notes to be purchased plus accrued and unpaid interest, if any, to but excluding, the Redemption Date, unless the Redemption Date occurs after a Regular Record Date and on
or before the Interest Payment Date corresponding to such Regular Record Date, in which case the Redemption Price for any Notes to be redeemed will equal 100% of the principal amount of such Notes, and accrued and unpaid interest, if any, on such
Notes to, but excluding, such Interest Payment Date will be payable, on such Interest Payment Date, to the Holder of such Notes at the Close of Business on such Regular Record Date. 

  
 A-7 

	6.	Conversion. 

 Subject to, and upon compliance with, the provisions of Article 10 of the
Indenture, a Holder may, at its option, convert all of its Notes, or any portion of its Notes having a principal amount equal to $1,000 or an integral multiple of $1,000 in excess thereof, (i) subject to satisfaction of the conditions set forth
in Section 10.01(b) of the Indenture, at any time prior to the Close of Business on the Business Day immediately preceding April 1, 2019, under the circumstances and during the periods set forth in Section 10.01(b) of the Indenture,
and (ii) irrespective of the conditions set forth in Section 10.01(b) of the Indenture, on or after April 1, 2019, and prior to the Close of Business on the second Scheduled Trading Day immediately preceding the Maturity Date, in each
case, into Conversion Consideration, as provided in Article 10 of the Indenture, based on the Conversion Rate. Notes may not be converted after the Close of Business on the second Scheduled Trading Day immediately preceding the Maturity Date. 

 

	7.	Denominations; Transfer; Exchange. 

 The Notes are in fully registered form, without
coupons, in minimum denominations of $1,000 of principal amount and in integral multiples of $1,000 in excess thereof. A Holder may transfer or exchange Notes in accordance with the Indenture. The Registrar may require a Holder, among other things,
to furnish appropriate endorsements and transfer documents and to pay any taxes and fees required by law or permitted by the Indenture. The Registrar need not transfer or exchange any Notes in respect of which a Fundamental Change Repurchase Notice
has been given and not withdrawn (except, in the case of a Note to be repurchased in part, the portion of the Note not to be repurchased), after the Company has delivered a Redemption Notice (except to the extent that Notes are converted or the
Company fails to pay the Redemption Price in accordance with Article 11 of the Indenture) or in respect of which a Conversion Notice has been given (except, in the case of a Note to be converted in part, the portion of the Note not to be converted).

  

	8.	Amendment, Supplement and Waiver. 

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

	9.	Defaults and Remedies. 

 Subject to the immediately following paragraph, if an Event of
Default specified in the Indenture occurs and is continuing, the Trustee, by delivering a written notice to the Company, or the Holders of at least 25% in aggregate principal amount of the Notes then outstanding, by delivering a written notice to
the Company and the Trustee, may declare all the Notes to be due and payable immediately by delivering notice to the Company. In addition, certain specified Events of Default will cause the Notes to become immediately due and payable without the
Trustee or Holders taking any action. 

  
 A-8 

 If the Company so elects, the sole remedy for an Event of Default relating to the Company’s
failure to comply with the reporting obligations under Section 4.03 of the Indenture will, for the first 180 days after the occurrence of such Event of Default, consist exclusively of the right to receive an Extension Fee on the principal
amount of the Notes then outstanding. 
 Holders may not enforce the Indenture or the Notes except as provided in the Indenture. The Trustee
may refuse to enforce the Indenture or the Notes unless it receives indemnity or security satisfactory to it. Holders of a majority of the principal amount of the then outstanding Notes may direct the Trustee in its exercise of any trust or power,
subject to certain limitations set forth in the Indenture. Subject to certain exceptions, the Trustee may withhold from Holders notice of any continuing Event of Default or Default if it determines that withholding notice is in their interest. 

 

	10.	Persons Deemed Owners. 

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

	11.	Unclaimed Money or Notes. 

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

	12.	Trustee Dealings with the Company. 

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

	13.	Calculations in Respect of Notes. 

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

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

  
 A-9 

	14.	No Recourse Against Others. 

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

	15.	Authentication. 

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

	16.	Abbreviations. 

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

 

	17.	GOVERNING LAW. 

 THE INDENTURE AND THE NOTES WILL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
  

	18.	CUSIP Numbers. 

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

The Company will furnish to any Holder, upon written request and without charge, a copy of the Indenture which has in it the text of this
Note. Requests may be made to: 
 Violin Memory, Inc. 
 4555
Great America Parkway 
 Santa Clara, California 95054 
 Attn:
General Counsel 

  
 A-10 

 CONVERSION NOTICE 

VIOLIN MEMORY, INC. 
 4.25%
CONVERTIBLE SENIOR NOTES DUE 2019 
 To convert this Note, check the box   ̈ 

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

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

			
	$	 	  

	Signature Guaranteed
	
	  

	Participant in a Recognized Signature
	Guarantee Medallion Program

			
		
	By:	 	  

		 	    Authorized Signatory

  
 A-11 

 FUNDAMENTAL CHANGE REPURCHASE NOTICE 

Wilmington Trust, National Association 
 Global Corporate Capital
Markets 
 50 South Sixth Street, Suite 1290 
 Minneapolis, MN
55402 
 Attention: Violin Memory Administrator 

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

			
	Signature Guaranteed
	
	  

	Participant in a Recognized Signature
	
	Guarantee Medallion Program
		
	By:	 	  

	Authorized Signatory

  
 A-12 

 [Include for Global Note] 

SCHEDULE OF INCREASES AND DECREASES OF GLOBAL NOTE 

Initial Principal Amount of Global Note: $[            ] 

 

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

  
 A-13 

 EXHIBIT B 

FORM OF TRANSFER CERTIFICATE 

VIOLIN MEMORY, INC. 
 4.25%
CONVERTIBLE SENIOR NOTES DUE 2019 
 Transfer Certificate 

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

 ̈ The Transfer of the Surrendered Note is being made to a person that the undersigned
reasonably believes to be a qualified institutional buyer in compliance with Rule 144A under the Securities Act; or 
  ̈ The Transfer of the Surrendered Note is being made pursuant to an effective registration statement under the Securities Act; or 

 ̈ The Transfer of the Surrendered Note is being made pursuant to another available exemption
from the registration requirement of the Securities Act. 
  

			
	Date:	 	  

		
	By:	 	  

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

			
	Signature Guaranteed
	
	  

	Participant in a Recognized Signature
	
	Guarantee Medallion Program
		
	By:	 	  

		 	Authorized Signatory

  
 B-1 

 EXHIBIT C 

[FORM OF RESTRICTED STOCK LEGEND] 
 THE
SALE OF THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”) OR ANY STATE SECURITIES LAWS, AND, ACCORDINGLY, PRIOR TO THE RESALE RESTRICTION TERMINATION DATE (AS DEFINED BELOW),
THIS SECURITY (AND ANY BENEFICIAL INTEREST HEREIN) MAY NOT BE OFFERED, RESOLD OR OTHERWISE TRANSFERRED, EXCEPT: 
  

	 	(A)	TO THE COMPANY OR ANY SUBSIDIARY THEREOF; 

  

	 	(B)	PURSUANT TO A REGISTRATION STATEMENT THAT HAS BECOME EFFECTIVE UNDER THE SECURITIES ACT; 

  

	 	(C)	TO A PERSON THAT YOU REASONABLY BELIEVE TO BE A QUALIFIED INSTITUTIONAL BUYER AND IN COMPLIANCE WITH RULE 144A UNDER THE SECURITIES ACT; OR 

 

	 	(D)	UNDER ANY OTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT (INCLUDING, IF AVAILABLE, THE EXEMPTION PROVIDED BY RULE 144 UNDER THE SECURITIES ACT). 

THE “RESALE RESTRICTION TERMINATION DATE” MEANS THE DATE: (A) THAT IS AT LEAST ONE YEAR AFTER THE LAST ORIGINAL ISSUE DATE OF THE
COMPANY’S 4.25% CONVERTIBLE SENIOR NOTES DUE 2019; AND (B) SUCH LATER DATE, IF ANY, AS MAY BE REQUIRED BY APPLICABLE LAW. 
 PRIOR TO ANY TRANSFER
PURSUANT TO THE FOREGOING CLAUSE (D), THE COMPANY AND THE TRANSFER AGENT RESERVE THE RIGHT TO REQUIRE THE DELIVERY OF SUCH CERTIFICATIONS, LEGAL OPINIONS OR OTHER INFORMATION AS THEY MAY REASONABLY REQUIRE AND MAY RELY UPON 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 AND APPLICABLE SECURITIES LAWS OF ANY OTHER JURISDICTION. NO REPRESENTATION IS MADE AS TO THE AVAILABILITY
OF ANY EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. 

  
 C-1

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