Document:

Exhibit 10.2

Exhibit 10.2

Intercreditor Agreement

This Intercreditor Agreement is made and entered into between Summit Financial Resources,
L.P., a Hawaii limited partnership (“Summit”), Alpha Capital Anstalt, a company organized and
existing under the laws of Liechtenstein (“Alpha”), Longview Fund L.P., a California limited
partnership (“Longview”), and Michael S. Rudolph, an individual and as collateral agent for Alpha
and Longview (“Collateral Agent”) (Alpha, Longview, and Collateral Agent are collectively referred
to as “Lender”), and is acknowledged and consented to by Irvine Sensors Corporation, a Delaware
corporation (“Client”).

RECITALS

1. Summit is entering into a financing agreement with Client (the “Summit
Financing”).

2. Lender is currently providing certain financing to Client (the “Lender
Financing”).

3. Summit and Lender desire to enter into this Intercreditor Agreement in order to
(i) agree to and confirm the relative rights and payment of their respective indebtedness and
(ii) agree to certain other rights, priorities, and interests.

AGREEMENT

For good and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, Summit and Lender hereby agree as follows:

1. Definitions. Terms used in the singular shall have the same meaning when used in
the plural and vice versa. In addition to the terms defined above, as used herein, the term:

a. “Default Rights and Remedies” means any and all rights and remedies
granted in, arising from, or relating to any agreement, instrument, or document and any and
all rights and remedies now or hereafter existing by statute, at law, or in equity, which may be
exercised only upon the occurrence of a breach or event of default.

b. “Encumbrance” means any and all security interests, liens, mortgages,
deeds of trust, assignments, and any other right, title or interest in, to, or on any property
of Client and/or any guarantor (whether obtained by agreement or by judicial process), including
real property, personal property, intellectual property, and intangible property.

c. “Summit Collateral” means (i) any and all collateral securing the Summit
Financing, wherever located, now owned or hereafter acquired, presently existing or created in
the future, including real property, personal property, intellectual property, and intangible
property, and (ii) any and all balances, deposits, debts, or any other amount of obligations
of Summit owing to Client, including, without limitation, any reserve, whether or not due.

Irvine
Sensors Corporation

6/11/2009

 

 

 

2. Consent to Loans. Lender hereby consents to Client entering into the agreements
evidencing the Summit Financing. Lender waives any provision in any agreement between
Lender and Client which prohibits, restricts, or limits the right of Client to enter into the
agreements evidencing the Summit Financing.

3. Lender Payment.

a. Summit agrees, in connection with the initial funding under the Summit
Financing, to tender to Lender the sum of two hundred forty-five thousand two hundred nine and
50/100 dollars ($245,209.50) (the “Lender Payment”) by wire transfer as follows:

Citibank, N.A.

ABA# 021-000-089

A/C Credit Suisse

A/C# 4080-4003

F/F/C Longview Fund, L.P A/C 706940

Attn: Equity Finance/Prime Broker Services

b. Lender agrees to apply the Lender Payment to the obligations owing under
the Lender Financing. Lender further agrees and acknowledges that in the event the Summit
Financing does not close for any reason, or the amount available to pay to Lender from the
initial
funding under the Summit Financing is not sufficient to pay the full amount of the Lender
Payment, Summit shall be excused from any obligation to tender the Lender Payment to Lender
and the subordinations provided in Section 4 below shall be of no effect until Lender receives
the full amount of the Lender payment.

c. Client hereby authorizes and instructs Summit to disburse all amounts
under the Summit Financing directly to Lender as necessary to pay to Lender the Lender Payment.
Client acknowledges and agrees that such payment by Summit shall constitute an advance under the
Summit Financing for which Client is obligated to repay pursuant to the terms and conditions of
the Summit Financing.

4. Priority of Encumbrances. Upon Lender’s receipt of the Lender Payment from Summit
or otherwise, and irrespective of the time, order, manner, or method of creation, attachment or
perfection of the Encumbrances granted to Summit or Lender, the time, place or manner of the
filing of their respective financing statements or other method of perfection, the time, place or
manner of recording of any instrument, whether Summit or Lender or any bailee or agent thereof
holds possession of any or all of the property or assets of Client, the dating, execution or
delivery of any agreement, documents or instrument granting Summit or Lender the Encumbrance, the
giving or failure to give notice of the acquisition or expected acquisition of any purchase money
security interest or other Encumbrance, and any provision of the Uniform Commercial Code or any
other applicable statute or common law to the contrary:

a. Any and all Encumbrances in favor of Summit in or on any Summit Collateral, now existing
or hereafter created, shall have priority over any and all Encumbrances in favor of Lender in or
on any Summit Collateral, now existing or hereafter created. Lender hereby subordinates any and
all Encumbrances in favor of Lender in or on any Summit
Collateral, now existing or hereafter created, to any and all Encumbrances in favor of Summit in
or on any Summit Collateral, now existing or hereafter created.

Irvine
Sensors Corporation

6/11/2009

 

2

 

5. Limitation of Subordination. The subordination of Lender’s Encumbrances in or
on any Summit Collateral to any and all Encumbrances in favor of Summit in or on any Summit
Collateral, as provided in Section 4 above, shall only be effective up to the maximum
principal
amount of two million dollars ($2,000,000.00), plus the amount of all interest, fees, costs,
and
expenses owing by Client under the Summit Financing.

6. Exercise of Default Rights and Remedies. Lender agrees that it will not exercise
any Default Rights and Remedies concerning the Lender Financing, including any Default
Rights and Remedies against any of the Summit Collateral, without first giving Summit at least
thirty (30) days written notice of the default on the Lender Financing, which notice shall
specify
the nature and terms of the default on the Lender Financing.

7. Prohibition of Prepayment of Lender Financing. Lender covenants and agrees
that it will not receive or accept any prepayment of the Lender Financing so long as any
amount
is outstanding and unpaid on the Summit Financing, without the prior written consent of
Summit,
which consent shall not be unreasonably withheld. Lender acknowledges that the agreements
evidencing the Summit Financing will prohibit Client from making any such prepayment.
However, if Lender receives any prepayment in violation of this covenant, such payments shall
be received in trust for Summit and shall be immediately tendered to Summit to be applied
toward payment of the Summit Financing. Subject to Section 8 below, the foregoing
prohibitions of prepayment of the Lender Financing shall not prohibit or in any way restrict
or limit Client from making the regularly scheduled principal and interest payments under the
Lender Financing.

8. Subordination of Payment upon Default. Upon the occurrence of an event of
default or breach under the Summit Financing or the occurrence of an event which, with the
passage of time or giving of notice or both, would constitute an event of default or breach
under
the Summit Financing, and the giving of written notice of such event of default or breach to

Lender by Summit, then:

a. The right of Lender to receive any payment, whether of principal or
interest, on the Lender Financing shall thereupon be subordinated to the right of Summit to
receive payment on the Summit Financing.

b. Lender covenants that it will not receive or accept any payments from or
on behalf of Client, any guarantor, or any other obligor on the Lender Financing without the
prior written consent of Summit. However, if Lender receives any payments from or on behalf
of Client, any guarantor, or any other obligor in violation of this covenant, such payments
shall
be received in trust for Summit and shall be immediately tendered to Summit to be applied
toward payment of the Summit Financing.

9. No Waiver of Other Rights. This Intercreditor Agreement is intended solely for
the purpose of defining the relative rights of Summit and Lender and nothing contained herein
is
intended to nor shall impair the obligations of Client, any guarantor, or any other obligors,
to pay
Summit or Lender, as the case may be, the principal and interest on the Summit Financing and the
Lender Financing as and when the same shall become due and payable in accordance with their terms,
subject to the rights of Summit created by this Intercreditor Agreement.

Irvine Sensors Corporation

6/11/2009

 

3

 

10. Nonavoidability and Perfection. The subordinations and priorities provided herein
are applicable regardless of whether the Encumbrance to which another Encumbrance is subordinated
is perfected or is voidable for any reason. Lender acknowledges that Summit may not initially
perfect its security interest in titled motor vehicles and may not do so in the future.

11 . Non-Reliance, No Duty to Notify. Summit and Lender each expressly acknowledge
that, except as expressly provided in this Intercreditor Agreement, neither they nor any of their
officers, directors, partners, employees, representatives, agents, attorneys or affiliates, has
made any representations or warranties to each other and that no act by Summit or Lender hereafter
taken, including any review of the affairs of Client, shall be deemed to constitute any
representation or warranty by Summit or Lender. Summit and Lender each represent that they have,
independently and without reliance upon the other and based on such documents and information as
each has deemed appropriate, made its own appraisal of and investigation into the business,
operations, property, financial and other condition and creditworthiness of Client and made its
own decision to enter into this Intercreditor Agreement. Summit and Lender each also represent
that it will, independently and without reliance upon the other and based on the documents and
information as each shall deem appropriate at the time, continue to make its own credit analysis,
appraisals and decisions in taking or not taking action under this Intercreditor Agreement, and in
regard to the Summit Financing and the Lender
Financing, and to make such investigation as it deems necessary to inform itself as to the
business, operations, property, financial and other condition and creditworthiness of Client.
Neither Summit nor Lender shall have any duty or responsibility to provide the other with any
credit or other information concerning the business, operations, property, financial and other
condition or creditworthiness of Client that may come into their possession.

Neither Summit nor Lender shall have any duty or obligation to notify the other of any event
of default or breach on the Summit Financing or the Lender Financing nor of any material adverse
change affecting the Summit Financing, the Lender Financing, Client, any guarantor, or any other
obligor. Summit and Lender will attempt to notify each other of the occurrence of an event of
default under the Summit Financing or Lender Financing but failure to do so shall not constitute a
breach or default under this Intercreditor Agreement and no liability shall result from failure to
provide such notice.

12. Notices. All notices hereunder shall be in writing and may be sent by certified
mail, return receipt requested. Notices so mailed shall be deemed received when deposited in a
United States post office box, postage prepaid, properly addressed to Summit or Lender at the
mailing address stated herein or to such other address as Summit or Lender may from time to time
specify in writing. Any notice so addressed and otherwise delivered shall be deemed given when
actually received by the addressee.

Irvine Sensors Corporation

6/11/2009

 

4

 

Mailing Addresses:

Summit:

Summit Financial Resources, L.P.

2455 East Parley’s Way, Suite 200

Salt Lake City, Utah 84109

Attention: Senior Portfolio Manager

Lender:

Michael S. Rudolph

Transamerica Pyramid 600

Montgomery Street, 44th Floor

San Francisco, California 94111

With a copy to:

Grushko & Mittman

551 Fifth Avenue, Suite 1601

New York, New York 10176

Attention: Edward Grushko

13. Indemnification. Client shall indemnify Summit and Lender for any and all claims and
liabilities, and for damages which may be awarded against or incurred by Summit and/or Lender, and
for all reasonable attorneys’ fees, legal expenses, and other out-of-pocket expenses incurred in
defending such claims, arising from or related in any manner to the
negotiation, execution, or performance by Summit and/or Lender of this Intercreditor Agreement
or any of the agreements, documents, obligations, or transactions contemplated by this
Intercreditor Agreement.

Summit and Lender shall have the sole and complete control of the defense of any such claim
involving Summit and Lender respectively. Summit and Lender are hereby authorized to settle or
otherwise compromise any such claims as Summit or Lender in good faith determines shall be in its
best interests.

14. Binding Effect. This Intercreditor Agreement shall apply to and govern all
renewals, amendments, restatements, and replacements of any and all agreements, instruments,
and documents evidencing or relating to the Summit Financing and the Lender Financing,
including any which increase the amount of the financing or loan, increase the interest rate
thereon, and/or extend or modify the payment terms.

15. No Agency or Joint Venture. Nothing in this Intercreditor Agreement shall be
construed to create any agency relationship between Summit and Lender. Neither Summit nor
Lender shall have any authority to act for or bind the other. Nothing in this Intercreditor
Agreement shall be construed to create any joint venture, partnership, or fiduciary
relationship
between Summit and Lender.

16. Attorney’s Fees in the Event of Default. Upon the occurrence of an event of
default or breach hereunder, the non-defaulting party shall be entitled to recover reasonable
attorneys fees and legal expenses incurred as a result of such default or breach and in exercising
any rights and remedies.

Irvine Sensors Corporation
6/11/2009

 

5

 

17. Governing Law. This Intercreditor Agreement shall be governed by and
construed in accordance with the laws of the State of Utah.

18. Jury Waiver, Exclusive Jurisdiction of Utah Courts. THE PARTIES HERETO
HEREBY IRREVOCABLY WAIVE ALL RIGHTS TO TRIAL BY JURY IN ANY ACTION,
PROCEEDING, CLAIM OR COUNTERCLAIM, WHETHER IN CONTRACT OR IN TORT,
AT LAW OR IN EQUITY, ARISING OUT OF OR IN ANY WAY RELATED TO THIS
INTERCREDITOR AGREEMENT.

Lender acknowledges that by execution and delivery of this Intercreditor Agreement, Lender
has transacted business in the State of Utah and Lender voluntarily submits to, consents to, and
waives any defense to the jurisdiction of courts located in the State of Utah as to all matters
relating to or arising from this Intercreditor Agreement. EXCEPT AS EXPRESSLY AGREED IN WRITING BY
SUMMIT, THE STATE AND FEDERAL COURTS LOCATED IN THE STATE OF UTAH SHALL HAVE SOLE AND EXCLUSIVE
JURISDICTION OF ANY AND ALL CLAIMS, DISPUTES, AND CONTROVERSIES, ARISING UNDER OR RELATING TO THIS
INTERCREDITOR AGREEMENT AND/OR THE TRANSACTIONS CONTEMPLATED HEREBY. NO LAWSUIT, PROCEEDING, OR
ANY OTHER ACTION RELATING TO OR ARISING UNDER THIS INTERCREDITOR AGREEMENT AND/OR THE TRANSACTIONS
CONTEMPLATED HEREBY MAY BE COMMENCED OR PROSECUTED IN ANY OTHER FORUM EXCEPT AS EXPRESSLY AGREED
IN WRITING BY SUMMIT.

19. Severability of Invalid Provisions. Any provision of this Intercreditor Agreement
which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction only, be
ineffective only to the extent of such prohibition or unenforceability without invalidating the
remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction
shall not invalidate or render unenforceable such provision in any other jurisdiction.

20. Warranty of Signing Representative. The representative signing this Intercreditor
Agreement on behalf of Summit and Lender each represents and warrants that he or she has been
duly authorized to execute and deliver this Intercreditor Agreement and that upon execution
and
delivery hereof by all parties hereto, this Intercreditor Agreement will be binding and
enforceable in accordance with its terms against such party for whom such representative has
signed.

21. Duplicate Originals. Two or more duplicate originals of this Intercreditor
Agreement may be signed by the parties, each duplicate of which shall be an original but all
of which together shall constitute one and the same agreement.

22. Integrated Agreement and Subsequent Amendment. This Intercreditor Agreement
constitutes the entire agreement between Summit and Lender and may not be altered or amended
except by written agreement signed by Summit and Lender. All other prior and
contemporaneous agreements, arrangements, and understandings between the parties hereto as to
the subject matter hereof are rescinded.

Irvine Sensors Corporation

6/11/2009

 

6

 

Dated: June 16, 2009.

	 	 	 	 	 
	 	Summit Financial Resources, L.P.

 	 
	 	By:  	/s/ Mark J. Picillo
 	 
	 	 	Name:  	Mark J. Picillo 	 
	 	 	Title:  	Senior Vice President 	 
	 
	 	Alpha Capital Anstalt

 	 
	 	By:  	                                                      /s/ Konrad Ackerman
 	 
	 	 	Name:  	Konrad Ackerman  	 
	 	 	Title:  	Director 	 
	 
	 	Longview Fund L.P.

 	 
	 	By:  	/s/ S. Michael Rudolph
 	 
	 	 	Name:  	S. Michael Rudolph 	 
	 	 	Title:  	Chief Financial Officer — Investment Adviser 	 
	 	 	 
	 	                                                           /s/ Michael S. Rudolph
 	 
	 	                                                           Michael S. Rudolph
 

Consented and agreed to as of June 16, 2009:

Irvine Sensors Corporation

	 	 	 	 	 	 	 
	By:	 	/s/ John J. Stuart, Jr.	 	 
	 	 	 	 	 
	 

	 	Name:
	 	John J. Stuart, Jr.	 	 
	 

	 	Title:
	 	Senior Vice President and Chief Financial Officer
	 	 

Irvine Sensors Corporation

6/11/2009

 

7exv4w1

Exhibit 4.1

RAMBUS INC.,

as Issuer

 

U.S. BANK NATIONAL ASSOCIATION,

as Trustee

 

% CONVERTIBLE SENIOR NOTES DUE 2014

 

INDENTURE

 

DATED AS OF JUNE      , 2009

 

 

TABLE OF CONTENTS

 

	 	 	 	 	 
	 	 	Page	 
	ARTICLE 1

	Definitions and Incorporation by Reference

	 
	 	 	 	 
	Section 1.01. Definitions
	 	 	1	 
	Section 1.02. TIA Provisions
	 	 	9	 
	Section 1.03. Rules of Construction
	 	 	9	 
	 
	 	 	 	 
	ARTICLE 2

	The Securities

	 
	 	 	 	 
	Section 2.01. Title and Terms; Principal and Interest
	 	 	10	 
	Section 2.02. Denominations
	 	 	11	 
	Section 2.03. Form and Dating
	 	 	11	 
	Section 2.04. Execution and Authentication
	 	 	12	 
	Section 2.05. Registrar, Paying Agent and Conversion Agent
	 	 	13	 
	Section 2.06. Paying Agent to Hold Money and Securities in Trust
	 	 	14	 
	Section 2.07. Holder Lists
	 	 	14	 
	Section 2.08. Transfer and Exchange
	 	 	14	 
	Section 2.09. Replacement Securities
	 	 	15	 
	Section 2.10. Outstanding Securities
	 	 	16	 
	Section 2.11. Treasury Securities
	 	 	17	 
	Section 2.12. Temporary Securities
	 	 	17	 
	Section 2.13. Cancellation
	 	 	17	 
	Section 2.14. Additional Transfer and Exchange Requirements
	 	 	18	 
	Section 2.15. CUSIP Numbers
	 	 	19	 
	Section 2.16. Persons Deemed Owners
	 	 	20	 
	Section 2.17. Ranking
	 	 	20	 
	 
	 	 	 	 
	ARTICLE 3

	Redemption

	 
	 	 	 	 
	Section 3.01. Optional Redemption
	 	 	20	 
	Section 3.02. Selection of Securities to Be Redeemed
	 	 	21	 
	Section 3.03. Notice of Redemption
	 	 	21	 
	Section 3.04. Effect of Notice of Redemption
	 	 	22	 
	Section 3.05. Deposit of Redemption Price
	 	 	22	 
	Section 3.06. Securities Redeemed in Part
	 	 	23	 

i

 

	 	 	 	 	 
	 	 	Page	 
	ARTICLE 4

	Put Option upon Fundamental Change

	 
	 	 	 	 
	Section 4.01. Repurchase of Securities at Option of Holders Upon a Fundamental Change
	 	 	23	 
	Section 4.02. Effect of Fundamental Change Repurchase Notice; Withdrawal

	 	 	28	 
	
Section 4.03. Deposit of Fundamental Change Repurchase Price
	 	 	29	 
	Section 4.04. Securities Repurchased in Part
	 	 	29	 
	Section 4.05. Repayment to the Company
	 	 	29	 
	Section 4.06. Compliance with Securities Laws upon Repurchase of Securities
	 	 	30	 
	 
	 	 	 	 
	ARTICLE 5

	Conversion

	 
	 	 	 	 
	Section 5.01. Conversion Privilege
	 	 	30	 
	Section 5.02. Conversion Procedures
	 	 	33	 
	Section 5.03. Payment upon Conversion
	 	 	34	 
	Section 5.04. Taxes on Conversion
	 	 	35	 
	Section 5.05. Company to Provide Stock
	 	 	35	 
	Section 5.06. Adjustment of Conversion Rate
	 	 	36	 
	Section 5.07. No Adjustment
	 	 	42	 
	Section 5.08. Adjustment for Tax Purposes
	 	 	43	 
	Section 5.09. Notice of Adjustment
	 	 	43	 
	Section 5.10. Adjustment to Conversion Rate upon
Certain Fundamental Changes
	 	 	43	 
	Section 5.11. Notice of Certain Transactions
	 	 	45	 
	Section 5.12. Effect of Reclassification,
Consolidation, Merger or Sale on Conversion Privilege
	 	 	46	 
	Section 5.13. Trustee’s Disclaimer
	 	 	47	 
	Section 5.14. Stockholder Rights Plan
	 	 	47	 
	Section 5.15. Exchange in Lieu of Conversion.
	 	 	47	 
	Section 5.16. Company Determination Final
	 	 	48	 
	 
	 	 	 	 
	ARTICLE 6

	Covenants

	 
	 	 	 	 
	Section 6.01. Payment of Securities
	 	 	48	 
	Section 6.02. Reports and Certain Information
	 	 	49	 
	Section 6.03. Compliance Certificates
	 	 	49	 
	Section 6.04. Maintenance of Corporate Existence
	 	 	49	 
	Section 6.05. Stay, Extension and Usury Laws
	 	 	49	 
	Section 6.06. Maintenance of Office or Agency of the Trustee, Registrar,
Paying Agent and Conversion Agent
	 	 	50	 

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	 	 	Page	 
	ARTICLE 7

	Consolidation, Merger, Conveyance, Transfer or Lease

	 
	 	 	 	 
	Section 7.01. Company May Consolidate, Etc., Only on Certain Terms
	 	 	50	 
	Section 7.02. Successor Substituted
	 	 	50	 
	 
	 	 	 	 
	ARTICLE 8

	Default and Remedies

	 
	 	 	 	 
	Section 8.01. Events of Default
	 	 	51	 
	Section 8.02. Acceleration
	 	 	52	 
	Section 8.03. Other Remedies
	 	 	52	 
	Section 8.04. Sole Remedy for Failure to Report
	 	 	53	 
	Section 8.05. Waiver of Defaults and Events of Default
	 	 	54	 
	Section 8.06. Control by Majority
	 	 	54	 
	Section 8.07. Limitations on Suits
	 	 	54	 
	Section 8.08. Rights of Holders to Receive Payment and to Convert
	 	 	55	 
	Section 8.09. Collection Suit by Trustee
	 	 	55	 
	Section 8.10. Trustee May File Proofs of Claim
	 	 	55	 
	Section 8.11. Priorities
	 	 	56	 
	Section 8.12. Undertaking for Costs
	 	 	56	 
	Section 8.13. Notice of Defaults
	 	 	56	 
	 
	 	 	 	 
	ARTICLE 9

	Trustee

	 
	 	 	 	 
	Section 9.01. Certain Duties and Responsibilities of Trustee
	 	 	57	 
	Section 9.02. Certain Rights of Trustee
	 	 	58	 
	Section 9.03. Trustee Not Responsible for Recitals or Issuance or Securities
	 	 	59	 
	Section 9.04. May Hold Securities
	 	 	60	 
	Section 9.05. Moneys Held in Trust
	 	 	60	 
	Section 9.06. Compensation and Reimbursement
	 	 	60	 
	Section 9.07. Reliance on Officer’s Certificate
	 	 	61	 
	Section 9.08. Disqualification; Conflicting Interests
	 	 	61	 
	Section 9.09. Corporate Trustee Required; Eligibility
	 	 	61	 
	Section 9.10. Resignation and Removal; Appointment of Successor
	 	 	61	 
	Section 9.11. Acceptance of Appointment by Successor
	 	 	63	 
	Section 9.12. Merger, Conversion, Consolidation or Succession to Business
	 	 	63	 
	Section 9.13. Preferential Collection of Claims against the Company
	 	 	64	 
	Section 9.14. Reports By Trustee To Holders
	 	 	64	 
	 
	 	 	 	 
	ARTICLE 10

	Amendments, Supplements and Waivers

	 
	 	 	 	 
	Section 10.01. Without Consent of Holders
	 	 	64	 
	Section 10.02. With Consent of Holders
	 	 	65	 
	Section 10.03. Compliance with TIA
	 	 	66	 
	Section 10.04. Revocation and Effect of Consents
	 	 	66	 
	Section 10.05. Notation on or Exchange of Securities
	 	 	66	 

iii

 

	 	 	 	 	 
	 	 	Page	 
	Section 10.06. Trustee to Sign Amendments, Etc
	 	 	66	 
	Section 10.07. Effect of Supplemental Indentures
	 	 	67	 
	 
	 	 	 	 
	ARTICLE 11

	[Reserved]

	 
	 	 	 	 
	ARTICLE 12

	Satisfaction and Discharge
	 
	 	 	 	 
	Section 12.01. Satisfaction and Discharge of the Indenture
	 	 	67	 
	Section 12.02. Repayment to the Company
	 	 	68	 
	 
	 	 	 	 
	ARTICLE 13

	Miscellaneous

	 
	 	 	 	 
	Section 13.01. TIA Controls
	 	 	68	 
	Section 13.02. Notices
	 	 	68	 
	Section 13.03. Communications by Holders with Other Holders
	 	 	69	 
	Section 13.04. Certificate and Opinion as to Conditions Precedent
	 	 	69	 
	Section 13.05. Record Date for Vote or Consent of Holders
	 	 	70	 
	Section 13.06. Rules by Trustee, Paying Agent, Registrar and Conversion Agent
	 	 	70	 
	
Section 13.07. Legal Holidays
	 	 	70	 
	Section 13.08. Governing Law
	 	 	70	 
	Section 13.09. No Adverse Interpretation of Other Agreements
	 	 	70	 
	Section 13.10. No Recourse Against Others
	 	 	70	 
	Section 13.11. Successors
	 	 	71	 
	Section 13.12. Multiple Counterparts
	 	 	71	 
	Section 13.13. Separability
	 	 	71	 
	Section 13.14. Calculations in Respect of the Securities
	 	 	71	 
	Section 13.15. Table of Contents, Headings, Etc
	 	 	71	 
	 
	 	 	 	 
	Exhibit A Form of Note:
	 	 	 	 
	- Assignment Form
	 	 	 	 
	- Form of Conversion Notice
	 	 	 	 
	- Form of Fundamental Change Repurchase Notice
	 	 	 	 

iv

 

CROSS-REFERENCE TABLE*

	 	 	 
	TIA INDENTURE SECTION	 	SECTION
	Section 310(a)(1)
	 	9.09
	(a)(2)
	 	9.09
	(a)(3)
	 	N.A.**
	(a)(4)
	 	N.A.
	(a)(5)
	 	9.09
	(b)
	 	9.08; 9.10
	(c)
	 	N.A.
	Section 311(a)
	 	9.13
	(b)
	 	9.13
	(c)
	 	N.A.
	Section 312(a)
	 	2.07
	(b)
	 	13.03
	(c)
	 	13.03
	Section 313(a)
	 	9.14
	(b)(1)
	 	N.A.
	(b)(2)
	 	9.14
	(c)
	 	8.13; 9.14
	(d)
	 	9.14
	Section 314(a)
	 	6.02; 6.03; 8.04
	(b)
	 	N.A.
	(c)(1)
	 	13.04(a)
	(c)(2)
	 	13.04(a)
	(c)(3)
	 	N.A.
	(d)
	 	N.A.
	(e)
	 	13.04(b)
	(f)
	 	N.A.
	Section 315(a)
	 	9.01(b); 9.02(b)
	(b)
	 	8.13; 13.02
	(c)
	 	9.01(a)
	(d)
	 	9.01(b)
	(e)
	 	8.12
	Section 316(a)(last sentence)
	 	2.11
	(a)(1)(A)
	 	8.06
	(a)(1)(B)
	 	8.05
	(a)(2)
	 	N.A.
	(b)
	 	8.08

 

			
	*	 	This Cross-Reference Table shall not, for any
purpose, be deemed a part of this Indenture.
	 
	**	 	N.A. means Not Applicable.

v

 

	 	 	 
	TIA INDENTURE SECTION	 	SECTION
	(c)
	 	13.05
	Section 317(a)(1)
	 	8.09
	(a)(2)
	 	8.10
	(b)
	 	2.06
	Section 318(c)
	 	13.01

vi

 

     THIS INDENTURE, dated as of June  , 2009, is between Rambus Inc., a Delaware corporation
(the “Company”), and U.S. Bank National Association, a national banking association, as trustee
(the “Trustee”).

Recitals

     The Company has duly authorized the creation of an issue of its      % Convertible Senior Notes
due 2014 (herein called the “Initial Securities” and together with any Additional Securities, the
“Securities”) of substantially the tenor and amount hereinafter set forth, and to provide the terms
and conditions upon which the Securities are to be authenticated, issued and delivered, the Company
has duly authorized the execution and delivery of this Indenture.

     All things necessary to make the Securities, when executed by the Company and authenticated
and delivered as provided herein and duly issued by the Company, the valid obligations of the
Company, and to make this Indenture a valid agreement of the Company, in accordance with their and
its terms, have been done.

     NOW, THEREFORE, THIS INDENTURE WITNESSETH:

     For and in consideration of the premises and the purchase of the Securities by the Holders
thereof, it is mutually agreed, for the equal and proportionate benefit of all Holders of the
Securities, as follows:

ARTICLE 1

Definitions and Incorporation by Reference

     Section 1.01. Definitions.

     “Additional Interest” has the meaning specified in Section 8.04.

     “Additional Securities” means an unlimited maximum aggregate principal amount of Securities
(other than the Initial Securities) issued under this Indenture.

     “Additional Shares” has the meaning specified in Section 5.10.

     “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
purposes of this definition, “control” (including, with correlative meanings, the terms
“controlling,” “controlled by” and “under common control with”), as used with respect to any
Person, shall mean the possession, directly or indirectly, of the power to direct or cause the
direction of
the management or policies of such Person, whether through the ownership of voting securities,
by agreement or otherwise.

 

 

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

     “Agent Members” has the meaning set forth in Section 2.03(c).

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

     “Bankruptcy Law” means Title 11 of the United States Code (or any successor thereto) or any
similar federal or state law for the relief of debtors.

     “beneficially own” and “beneficially owned” have the meanings set forth in Section 4.01(a).

     “beneficial owner” has the meaning set forth in Section 4.01(a).

     “Bid Solicitation Agent” means a nationally-recognized securities dealer, or an Affiliate
thereof, selected by the Company in its sole discretion to solicit bids as contemplated by Section
5.01(b) and, initially, the Trustee.

     “Board
of Directors” means, with respect to any Person, either the
board of directors of such Person or any duly authorized
committee of such board of directors.

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

     “Business Day” means each day that is not a Legal Holiday.

     “Capital Stock” has the meaning set forth in Section 4.01(a).

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

     “Certificated Security” means a Security that is in substantially the form attached hereto as
Exhibit A and that does not include the information or the schedule called for by footnotes
1 and 2 thereof.

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

     “Closing Sale Price” of the Common Stock on any Trading Day means the reported last sale price
per share (or, if no last sale price is reported, the average of the bid and ask prices per share
or, if more than one in either case, the
average of the average bid and the average ask prices per share) on such date reported by the
NASDAQ Global Select Market or, if the Common Stock is not quoted or listed for trading on the
NASDAQ Global Select Market, as reported by

2

 

the principal U.S. national or regional securities
exchange on which the Common Stock is listed.

     “Common Stock” means any stock of any class of the Company which has no preference in respect
of dividends or of amounts payable in the event of any voluntary or involuntary liquidation,
dissolution or winding-up of the Company and which is not subject to redemption by the Company.
Subject to the provisions of Section 5.12, however, shares issuable on conversion of Securities
shall include only shares of the class designated as Common Stock, par value $0.001, of the Company
at the date of this Indenture or shares of any class or classes resulting from any reclassification
or reclassifications thereof and which have no preference in respect of dividends or of amounts
payable in the event of any voluntary or involuntary liquidation, dissolution or winding-up of the
Company and which are not subject to redemption by the Company; provided, however, that if at any
time there shall be more than one such resulting class, the shares of each such class then so
issuable shall be substantially in the proportion which the total number of shares of such class
resulting from all such reclassifications bears to the total number of shares of all such classes
resulting from all such reclassifications.

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

     “Company Order” has the meaning specified in Section 2.04(d).

     “Conversion Agent” has the meaning set forth in Section 2.05.

     “Conversion Date” has the meaning set forth in Section 5.02(a).

     “Conversion Notice” has the meaning set forth in Section 5.02(a).

     “Conversion Price” means, per share of Common Stock, at any time, $1,000 divided by the
then-applicable Conversion Rate, rounded to the nearest cent, subject to adjustment as set forth
herein.

     “Conversion Rate” means initially            shares of Common Stock per $1,000 principal amount of
Securities, subject to adjustment as set forth herein.

     “Conversion Reference Period” means (a) for Securities that are converted on or after March
15, 2014, the 20 consecutive Trading Days beginning on the 22nd Scheduled Trading Day prior to the
Maturity Date; and (b) in all other instances, the 20 consecutive Trading Days beginning on the
third Trading Day following the Conversion Date.

     “Conversion Trigger Price” has the meaning set forth in Section 5.01(a).

     “Corporate Trust Office” means the office of the Trustee at which at any time the trust
created by this Indenture shall be administered, which office at the

3

 

date of the execution of this
Indenture is located at U.S. Bank National Association, Corporate Trust Services, 633 West Fifth
Street, 24th Floor, LM-CA-T24T, Los Angeles, CA 90071, except that whenever a provision herein
refers to an office or agency of the Trustee in the Borough of Manhattan, The City of New York,
such office is located, at the date hereof, at the office of U.S. Bank Trust National Association,
an affiliate of the Trustee at 100 Wall Street, Suite 1600, New York, NY 10005, attention:
Corporate Trust Services, Mail Station: EX-NY-WALL.”

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

     “Daily Conversion Value” means, for each of the 20 consecutive Trading Days during the
Conversion Reference Period, one-twentieth (1/20th) of the product of (i) the Conversion Rate on
such day and (ii) the Daily VWAP of the Common Stock on such day.

     “Daily Settlement Amount” has the meaning set forth in Section 5.03(a).

     “Daily Share Amount” has the meaning set forth in Section 5.03(a)(i).

     “Daily VWAP” means, for each of the 20 consecutive Trading Days during the Conversion
Reference Period, the per share volume-weighted average price as displayed under the heading
“Bloomberg VWAP” on Bloomberg page RMBS.UQ <EQUITY> AQR <GO> (or its equivalent
successor if such page is not available) in respect of the period from 9:30 a.m. to 4:00 p.m., New
York City time, 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), provided that after the occurrence or effectiveness of a Fundamental
Change in which the holders of Common Stock receive only cash the Daily VWAP will be determined to
be the cash price per share received by holders of the Common Stock in such Fundamental Change.

     “Default” or “default” means, when used with respect to the Securities, any event which is or,
after notice or passage of time or both, would be an Event of Default.

     “Depositary” has the meaning set forth in Section 2.03(b).

     “Designated Institution” has the meaning set forth in Section 5.15(a).

     “Effective Date Notice” has the meaning set forth in Section 4.01(b).

     “Event of Default” has the meaning set forth in Section 8.01.

     “Ex Date” has the meaning set forth in Section 5.01(a)(iii).

4

 

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

     “Final Prospectus” means the final prospectus dated June  , 2009, relating to the
Securities and filed by the Company with the SEC pursuant to Rule 424(b) promulgated under the
Securities Act on June  , 2009.

     “Fundamental Change” has the meaning set forth in Section 4.01(a).

     “Fundamental Change Company Notice” has the meaning set forth in Section 4.01(b).

     “Fundamental Change Repurchase Date” has the meaning set forth in Section 4.01(a).

     “Fundamental Change Repurchase Notice” has the meaning set forth in Section 4.01(c).

     “Fundamental Change Repurchase Price” has the meaning set forth in Section 4.01(a).

     “GAAP” means generally accepted accounting principles set forth in the opinions and
pronouncements of the Public Company Accounting Oversight Board and statements and pronouncements
of the Financial Accounting Standards Board or in such other statements by such other entity as
have been approved by a significant segment of the accounting profession, which are in effect from
time to time and consistently applied.

     “Global Security” means a permanent Global Security that is in substantially the form attached
hereto as Exhibit A and that includes the information and schedule called for by footnotes
1 and 2 thereof and which is deposited with the Depositary or its custodian and registered in the
name of the Depositary or its nominee.

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

     “Indenture” means this Indenture as amended or supplemented from time to time pursuant to the
terms of this Indenture, including the provisions of the TIA that are explicitly incorporated in
this Indenture by reference to the TIA.

     “Initial Securities” has the meaning set forth in the Recitals.

     “Interest Payment Date” means June 15 and December 15 of each year, beginning December 15,
2009.

     “Legal Holiday” has the meaning set forth in Section 13.07.

5

 

     “Make-Whole Effective Date” has the meaning set forth in Section 5.10(b).

     “Make-Whole Fundamental Change” has the meaning set forth in Section 5.10(a).

     “Market Disruption Event” means (a) a failure by the primary U.S. exchange or quotation system
on which the Common Stock trades or is quoted 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 Trading Day
for the Common Stock of an aggregate one half-hour period, of any 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 traded in the United States.

     “Material Subsidiary” means a Subsidiary that is a significant subsidiary as defined under
Rule 1-02(w) of Regulation S-X under the Exchange Act; provided that, in the case of a Subsidiary
that meets the criteria of clause (3) of the definition thereof but not clause (1) or (2) thereof,
such Subsidiary shall not be deemed to be a Material Subsidiary unless the Subsidiary’s income from
continuing operations before income taxes, extraordinary items and cumulative effect of a change in
accounting principle exclusive of amounts attributable to any non-controlling interests for the
last completed fiscal year prior to the date of such determination exceeds $9,000,000.

     “Maturity Date” means June 15, 2014.

     “Measurement Period” has the meaning set forth in Section 5.01(a)(ii).

     “Merger Event” has the meaning set forth in Section 5.12.

     “Notice of Default” means written notice provided to the Company by the Trustee or the Holders
of not less than 25% in aggregate principal amount of Securities then outstanding of a Default by
the Company, which notice must specify the Default, demand that it be remedied and expressly state
that such notice is a “Notice of Default.”

     “Officer” means, with respect to any Person, the Chairman of the Board, the Chief Executive
Officer, the President, the Chief Operating Officer, the Chief Financial Officer, the Treasurer,
any Assistant Treasurer, the Controller, the Secretary, Assistant Secretary or any Vice President
of such Person.

     “Officer’s Certificate” means a certificate signed by at least one Officer of the Company;
provided, however, that for purposes of Sections 5.12 and 6.03, “Officer’s Certificate” means a
certificate signed by the principal executive officer, principal financial officer or principal
accounting officer of the Company.

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

6

 

     “Opinion of Counsel” means a written opinion from legal counsel. The counsel may be an
employee of or counsel to the Company or the Trustee.

     “Paying Agent” has the meaning set forth in Section 2.05.

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

     “Record Date” means, with respect to the payment of interest on the Securities, the June 1
(whether or not a Business Day) next preceding an Interest Payment Date on June 15 and the December
1 (whether or not a Business Day) next preceding an Interest Payment Date on December 15.

     “Redemption Date” means the date specified for redemption of the Securities in accordance with
the terms of the Securities and Article 3 hereof.

     “Redemption Price” has the meaning specified in Section 3.01(b).

     “Reference Property” has the meaning set forth in Section 5.12.

     “Register” has the meaning set forth in Section 2.05.

     “Registrar” has the meaning set forth in Section 2.05.

     “Reporting Obligations” has the meaning set forth in Section 8.04.

     “Scheduled Trading Day” means any day that is scheduled to be a Trading Day on the primary
U.S. exchange or quotation system on which the Common Stock is listed or admitted for trading, or
if the Common Stock is not so listed or admitted for trading, “Scheduled Trading Day” means a
Business Day.

     “SEC” means the United States Securities and Exchange Commission, as from time to time
constituted, created under the Exchange Act, or, if at any time after the execution of this
Indenture the SEC is not existing and performing the duties now assigned to it under the TIA, then
the body performing such duties at such time.

     “Security” and “Securities” have the meaning set forth in the Recitals and include the Initial
Securities and any Additional Securities. The Initial Securities and Additional Securities shall be
treated as a single series for all purposes under this Indenture.

     “Securities Act” means the United States Securities Act of 1933, as amended, and the rules and
regulations promulgated thereunder, as in effect from time to time.

     “Securities Custodian” means the Trustee, as custodian with respect to the Global Securities,
or any successor thereto.

7

 

     “Settlement Amount” has the meaning set forth in Section 5.03(a).

     “Spin-Off” has the meaning set forth in Section 5.06(c).

     “Stock Price” has the meaning set forth in Section 5.10(b).

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

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

     “Trading Day” means a day on which (i) trading in the Common Stock generally occurs on the
NASDAQ Global Select Market or, if the Common Stock is not then listed on the NASDAQ Global Select
Market, on the primary 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 primary other market on which the Common Stock is then traded and (ii)
there is no Market Disruption Event. If the Common Stock is not so listed or traded, “Trading Day”
shall mean a Business Day

     “Trading Price” means, on any date of determination, the average of the secondary market bid
quotations per $1,000 principal amount of the Securities obtained by the Bid Solicitation Agent for
$2,000,000 aggregate principal amount of the Securities at approximately 3:30 p.m., New York City
time, on such determination date from three independent nationally
recognized securities dealers that
the Company selects, which may include any of the underwriters; provided that if three such bids
cannot reasonably be obtained by the Bid Solicitation Agent, but two such bids are obtained, then
the average of the two bids shall be used, and if only one such bid can reasonably be obtained by
the Bid Solicitation Agent, that one bid shall be used. If the Bid Solicitation Agent cannot
reasonably obtain at least one bid for $2,000,000 principal amount of the Securities from a
nationally recognized securities dealer, then the Trading Price per $1,000 principal amount of the
Securities will be deemed to be less than 98% of the product of the Closing Sale Price of the
Common Stock for such Trading Day and the applicable Conversion Rate for such date of
determination.

     “Trigger Event” has the meaning set forth in Section 5.06(b).

8

 

     “Trustee” means the party named as such in the first paragraph of this Indenture until a
successor replaces it pursuant to the applicable provisions of this Indenture, and thereafter
“Trustee” should mean such successor Trustee.

     “Trust Officer” means, with respect to the Trustee, any officer assigned to the Corporate
Trust Office, and also, with respect to a particular matter, any other officer to whom such matter
is referred because of such officer’s knowledge of and familiarity with the particular subject.

     “Valuation Period” has the meaning set forth in Section 5.06(c).

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

     “Voting Stock” has the meaning set forth in Section 4.01(a).

     Section 1.02. TIA Provisions. Whenever this Indenture refers to a provision of the TIA, that
provision is incorporated by reference in and made a part of this Indenture. The Indenture shall
also include those provisions of the TIA required to be included herein by the provisions of the
Trust Indenture Reform Act of 1990. The following TIA terms used in this Indenture have the
following meanings:

     “Commission” means the SEC.

     “indenture securities” means the Securities;

     “indenture security holder” means a Holder;

     “indenture to be qualified” means this Indenture;

     “indenture trustee” or “institutional trustee” means the Trustee; and

     “obligor” on the indenture securities means the Company and any successor obligor on the
Securities.

     All other terms used in this Indenture that are defined in the TIA, defined by TIA reference
to another statute or defined by any SEC rule and not otherwise defined herein have the meanings
assigned to them therein.

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

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

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

9

 

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

     (d) provisions apply to successive events and transactions;

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

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

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

     (h) “herein,” “hereof,” “hereunder,” “hereinafter” and other words of similar import refer to
this Indenture as a whole and not to any particular Article, Section or other subdivision; and

     (i) unless the context otherwise requires, any reference to an “Article” or a “Section” refers
to an Article or Section, as the case may be, of this Indenture.

ARTICLE 2

The Securities

     Section 2.01. Title and Terms; Principal and Interest. The aggregate principal amount of
Initial Securities which may be authenticated and delivered under this Indenture is limited to
$150,000,000 and the aggregate amount of Additional Securities is unlimited, except for Securities
authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of,
other Securities pursuant to Sections 2.08, 2.09, 2.12, 2.14, 3.06, 4.04 and 5.02.

     The Initial Securities and the Additional Securities, if any, shall be known and designated as
the “      % Convertible Senior Notes due 2014” of the Company.

     The Securities shall mature June 15, 2014.

     The Securities shall bear interest at the rate of      % per annum, from June  , 2009 or
from the most recent Interest Payment Date to which interest has been paid or duly provided for, as
the case may be, semi-annually in arrears, on June 15 and December 15 of each year, commencing on
December 15, 2009, until the principal thereof is paid or made available for payment. Interest
(including Additional Interest, if any) will be computed on the basis of a 360-day year comprised
of twelve 30-day months. Interest will cease to accrue on a Security upon the Maturity Date,
conversion, redemption or repurchase by the Company at the option of the Holder pursuant to Section
4.01.

     Principal and interest (including Additional Interest, if any) on Global Securities shall be
payable in the manner set forth in Section 6.01.

10

 

     The Securities shall be convertible as provided in Article 5.

     Section 2.02. Denominations. The Securities shall be issuable only in registered form
without coupons and only in denominations of $1,000 and any multiple thereof.

     Section 2.03. Form and Dating. (a) The Securities and the corresponding Trustee’s
certificate of authentication shall be substantially in the respective forms set forth in
Exhibit A, which Exhibit is incorporated in and made part of this Indenture. The
Securities may have notations, legends or endorsements required by law, exchange rule, Applicable
Procedures or usage. The Company shall provide any such notations, legends or endorsements to the
Trustee in writing. Each Security shall be dated the date of its authentication.

     The terms and provisions contained in the Securities shall constitute, and are hereby
expressly made, a part of this Indenture and the Company and the Trustee, by their execution and
delivery of this Indenture, expressly agree to such terms and provisions and to be bound thereby;
provided, however, to the extent permitted by applicable law, if any provision of any Security
conflicts with the express provisions of this Indenture, the provisions of this Indenture shall
govern and be controlling.

     (b) Global Securities.

     (i) All of the Securities shall be issued initially in the form of one or more Global
Securities, which shall be deposited on behalf of the purchasers of the Securities
represented thereby with the Trustee, at its Corporate Trust Office, as custodian for the
depositary, The Depository Trust Company (such depositary, or any successor thereto, being
hereinafter referred to as the “Depositary”), and registered in the name of its nominee,
Cede & Co., or as otherwise instructed by the Depositary duly executed by the Company and
authenticated by the Trustee as hereinafter provided. The aggregate principal amount of
the Global Securities may from time to time be increased or decreased by adjustments made
on the records of the Securities Custodian and the Depositary as hereinafter provided,
subject in each case to compliance with the Applicable Procedures and the provisions of
this Indenture.

     (ii) Each Global Security shall represent such of the outstanding Securities as shall
be specified therein and each shall provide that it shall represent the aggregate amount
of outstanding Securities from time to time endorsed thereon and that the aggregate amount
of outstanding Securities represented thereby may from time to time be reduced or
increased, as appropriate, to reflect exchanges, purchases or conversions of such
Securities. Any adjustment of the aggregate principal amount of a Global Security to
reflect the amount of any increase or decrease in the amount of outstanding Securities
represented thereby shall
be made by the Trustee in accordance with instructions given by the

11

 

Holder thereof as
required by Section 2.14 hereof and shall be made on the records of the Trustee and the
Depositary.

     (iii) The Company shall issue and the Trustee shall, upon receipt of a Company Order
(which the Company agrees to deliver without unreasonable delay), authenticate and deliver
in accordance with Section 2.04, initially one or more Global Securities that (i) shall be
registered in the name of Cede & Co. or as otherwise instructed by the Depositary, (ii)
shall be delivered by the Trustee to the Depositary or to the Securities Custodian
pursuant to the Depositary’s instructions and (iii) shall bear legends required for Global
Securities as set forth on Exhibit A hereto.

     (c) Book Entry Provisions. Members of, or participants in, the Depositary (“Agent
Members”) shall have no rights under this Indenture with respect to any Global Security held on
their behalf by the Depositary or under the Global Security, and the Depositary (including, for
this purpose, its nominee) may be treated by the Company, the Trustee and any agent of the Company
or the Trustee as the absolute owner and Holder of such Global Security for all purposes
whatsoever. Notwithstanding the foregoing, nothing herein shall (i) prevent the Company, the
Trustee or any agent of the Company or the Trustee from giving effect to any written certification,
proxy or other authorization furnished by the Depositary, or such nominee, as the case may be, or
(ii) impair, as between the Depositary and its Agent Members, the Applicable Procedures or the
operation of customary practices governing the exercise of the rights of a Holder of any Security.

     (d) Certificated Securities. Certificated Securities will be issued only under the
limited circumstances provided in Section 2.14(a)(i).

     Section 2.04. Execution and Authentication. (a) An Officer of the Company shall sign the
Securities for the Company by manual or facsimile signature. Typographic and other minor errors or
defects in any such facsimile signature shall not affect the validity or enforceability of any
Security that has been authenticated and delivered by the Trustee.

     (b) If an Officer of the Company whose signature is on a Security no longer holds that office
at the time the Trustee authenticates the Security, the Security shall be valid nevertheless.

     (c) A Security shall not be valid until an authorized signatory of the Trustee manually signs
the certificate of authentication on the Security. The signature shall be conclusive evidence that
the Security has been authenticated under this Indenture.

     (d) The Trustee shall initially authenticate and make available for delivery Securities for
original issue in the aggregate principal amount of up to $150,000,000 upon receipt of a written
order or orders of the Company signed by an Officer of the Company (a “Company Order”). Each
Company Order shall

12

 

specify the amount of Securities to be authenticated, shall provide that all
such Securities be represented by a Global Security and the date on which each original issue of
Securities is to be authenticated. The Company may, without the consent of the Holders, issue
Additional Securities with the same terms and with the same CUSIP number as the Initial Securities
in an unlimited aggregate principal amount; provided, however that no such Additional Securities
may be issued unless fungible with the Initial Securities for U.S. federal income tax purposes.
The Trustee shall authenticate Additional Securities thereafter in unlimited aggregate principal
amount (so long as permitted by the terms of this Indenture) for original issue upon a Company
Order of the Company in aggregate principal amount as specified in such Company Order (except as
provided in Section 2.09). Such Additional Securities shall have identical terms to the Initial
Securities except for issuance dates and prices and with respect to interest accruing prior to
their date of issuance, and will constitute the same series as the Initial Securities for all
purposes hereunder, including, without limitation, waivers, amendments and offers to purchase.

     (e) The Trustee shall act as the initial authenticating agent. Thereafter, the Trustee may
appoint an authenticating agent acceptable to the Company to authenticate Securities. An
authenticating agent may authenticate Securities whenever the Trustee may do so. Each reference in
this Indenture to authentication by the Trustee includes authentication by such agent. An
authenticating agent shall have the same rights as an Agent to deal with the Company or an
Affiliate of the Company.

     Section 2.05. Registrar, Paying Agent and Conversion Agent. The Company shall maintain an
office or agency where Securities may be presented for registration of transfer or for exchange
(the “Registrar”), an office or agency where Securities may be presented for purchase or payment
(the “Paying Agent”), an office or agency where
Securities may be presented for conversion (the “Conversion
Agent”) and an office or agency where notices and demands to or upon the Company in respect of the
Securities and this Indenture may be served. Pursuant to Section 6.06, the Company shall at all
times maintain a Paying Agent, Conversion Agent and Registrar and an office or agency where notices
and demands to or upon the Company in respect of the Securities and this Indenture may be served.
The Registrar shall keep a register of the Securities (the “Register”) and of their transfer and
exchange.

     The Company may have one or more co-registrars, one or more additional paying agents and one
or more additional conversion agents. The term Registrar includes any co-registrar, including any
named pursuant to Section 6.06. The term Paying Agent includes any additional paying agent,
including any named
pursuant to Section 6.06. The term Conversion Agent includes any additional conversion agent,
including any named pursuant to Section 6.06.

     The Company shall enter into an appropriate agency agreement with any Agent not a party to
this Indenture. The agreement shall implement the provisions of this Indenture that relate to such
Agent. The Company shall notify

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the Trustee of the name and address of any Agent not a party to
this Indenture. If the Company fails to maintain a Registrar, Paying Agent, Conversion Agent or
agent for service of notices and demands in any place required by this Indenture, or fails to give
the foregoing notice, the Trustee shall act as such. The Company or any Affiliate of the Company
may act as Paying Agent.

     The Company hereby initially appoints the Trustee as Registrar, Paying Agent and Conversion
Agent in connection with the Securities.

     Section 2.06. Paying Agent to Hold Money and Securities in Trust. Prior to 10:00 a.m., New
York City time, on each due date of payments in respect of, or delivery of cash or a combination of
cash and shares of Common Stock, as applicable, upon conversion of, any Security, the Company shall deposit
with the Paying Agent cash (in immediately available funds if deposited on the due date) and/or
with the Conversion Agent such number of shares of Common Stock sufficient to make such payments or
deliveries when so becoming due. The Company shall require each Paying Agent or Conversion Agent,
as applicable (other than the Trustee), to agree in writing that such Agent shall hold in trust for
the benefit of Holders or the Trustee all cash or shares of Common Stock, as applicable, held by
such Agent for the making of payments or deliveries in respect of the Securities and shall notify
the Trustee of any default by the Company in making any such payment or delivery. If the Company
or an Affiliate of the Company acts as Paying Agent or Conversion Agent, as applicable, it shall
segregate the cash and shares of Common Stock, as applicable, held by it as Paying Agent or Conversion Agent,
as applicable, and hold it as a separate trust fund.

     The Company at any time may require a Paying Agent or Conversion Agent, as applicable, to pay
all cash or shares of Common Stock held by it to the Trustee, and the Trustee may at any time
during the continuance of any default, upon written request to the Paying Agent or the Conversion
Agent, as applicable, require such Paying Agent or Conversion Agent, as applicable, to pay
forthwith to the Trustee all cash or shares of Common Stock, as applicable, so held in trust by
such Paying Agent or Conversion Agent. Upon doing so, the Paying Agent or the Conversion Agent, as
applicable, shall have no further liability for the cash or shares of Common Stock, as applicable.

     Section 2.07. Holder Lists. The Trustee shall preserve in as current a form as is reasonably
practicable the most recent list available to it of the names and addresses of the Holders. If the
Trustee is not the Registrar, the Company shall furnish to the Trustee on or before each Interest
Payment Date, and at such other times as the Trustee may request in writing, a list of the names
and addresses of the Holders in such form and as of such date as the Trustee may reasonably
request.

     Section 2.08. Transfer and Exchange.

     (a) Subject to compliance with any applicable additional requirements contained in Section
2.14, when a Security is presented to a Registrar with a request to register a transfer thereof or
to exchange such Security for an equal

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principal amount of Securities of other authorized
denominations, the Registrar shall register the transfer or make the exchange as requested;
provided, however, that every Security presented or surrendered for registration of transfer or
exchange shall be duly endorsed or accompanied by an assignment form, in the form included in
Exhibit A attached hereto, and in form satisfactory to the Registrar duly executed by the
Holder thereof or its attorney duly authorized in writing. To permit registration of transfers and
exchanges, upon surrender of any Security for registration of transfer or exchange at an office or
agency maintained pursuant to Section 2.05, the Company shall execute and the Trustee shall
authenticate Securities of a like aggregate principal amount at the Registrar’s request. Any
exchange or transfer shall be without charge, except that the Company or the Registrar may require
payment of a sum sufficient to cover any tax, assessment or other governmental charge that may be
imposed in relation thereto.

     None of the Company, any Registrar or the Trustee shall be required to register a transfer or
exchange of any Securities for which the Holder has delivered, and not validly withdrawn, a
Fundamental Change Repurchase Notice, except, in the case of a partial repurchase, with respect to
that portion of the Securities not being repurchased.

     All Securities issued upon any transfer or exchange of Securities shall be valid obligations
of the Company, evidencing the same debt and entitled to the same benefits under this Indenture, as
the Securities surrendered upon such transfer or exchange.

     (b) Any Registrar appointed pursuant to Section 2.05 hereof shall provide to the Trustee such
information as the Trustee may reasonably request in connection with the delivery by such Registrar
of Securities upon transfer or exchange of Securities.

     (c) Each Holder of a Security agrees to indemnify the Company, the Registrar and the Trustee
against any liability that may result from the transfer, exchange or assignment of such Holder’s
Security in violation of any provision of this Indenture and/or applicable U.S. federal or state
securities law.

     The Trustee shall have no obligation or duty to monitor, determine or inquire as to compliance
with any applicable federal or state or other securities
and tax laws (including with respect to any transfers between or among Agent Members or other
beneficial owners of interests in any Global Security) and shall have no duty to obtain
documentation relating to any transfers or exchanges other than as specifically required hereunder.

     Section 2.09. Replacement Securities. If (a) any mutilated Security is surrendered to the
Company, a Registrar or the Trustee, or (b) the Company, the Registrar and the Trustee receive
evidence to their satisfaction of the destruction, loss or theft of any Security, and, in either
case, there is delivered to the Company, the Registrar and the Trustee such security or indemnity
as shall be required by them to save each of them harmless, then, in the absence of notice to

15

 

the Company, such Registrar or the Trustee that such Security has been acquired by a bona fide or
protected purchaser, the Company shall issue, and the Trustee shall, upon receipt of a Company
Order (which the Company agrees to deliver without unreasonable delay), authenticate and deliver,
in exchange for any such mutilated Security or in lieu of any such destroyed, lost or stolen
Security, a new Security of like tenor and principal amount, bearing a number not contemporaneously
outstanding.

     In case any such mutilated, destroyed, lost or stolen Security has become or is about to
become due and payable, or is about to be purchased by the Company pursuant to Article 4, the
Company in its discretion (but subject to any conversion rights) may, instead of issuing a new
Security, pay or purchase such Security, as the case may be.

     Upon the issuance of any new Securities under this Section 2.09, the Company may require the
payment of a sum sufficient to cover any tax, assessment or other governmental charge that may be
imposed in relation thereto and any other reasonable expenses (including the reasonable fees and
expenses of the Trustee or the Registrar) in connection therewith.

     Every new Security issued pursuant to this Section 2.09 in lieu of any mutilated, destroyed,
lost or stolen Security shall constitute an original additional contractual obligation of the
Company, whether or not the mutilated, destroyed, lost or stolen Security shall be at any time
enforceable by anyone, and shall be entitled to all benefits of this Indenture equally and
proportionately with any and all other Securities duly issued hereunder.

     The provisions of this Section 2.09 are (to the extent lawful) exclusive and shall preclude
(to the extent lawful) all other rights and remedies with respect to the replacement or payment of
mutilated, destroyed, lost or stolen Securities.

     Section 2.10. Outstanding Securities. Securities outstanding at any time are all Securities
authenticated by the Trustee, except for those canceled by it, those paid or purchased pursuant to
Section 2.09, those delivered to it for cancellation and those described in this Section 2.10 as
not outstanding.

     If a Security is replaced pursuant to Section 2.09, it ceases to be outstanding unless the
Trustee receives, subsequent to the new Security’s authentication, proof satisfactory to the
Company that the replaced Security is held by a bona fide or protected purchaser.

     If the Paying Agent holds, in accordance with the terms of this Indenture, prior to 10:00
a.m., New York City time, on the Maturity Date, the Redemption Date or the Business Day immediately following a
Fundamental Change Repurchase Date, as the case may be, cash or securities, sufficient to pay
Securities payable, then immediately after such Maturity Date,
Redemption Date or Fundamental Change Repurchase
Date, as the case may be, such Securities shall cease to be outstanding and interest (including
Additional Interest, if any) shall cease to accrue.

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     If a Security is converted in accordance with Article 5, then from and after the Close of
Business on the Conversion Date, such Security shall cease to be outstanding and interest
(including Additional Interest, if any) shall cease to accrue, unless there shall be a default in
the delivery of the consideration payable hereunder upon such conversion.

     Subject to the restrictions contained in Section 2.11, a Security does not cease to be
outstanding because the Company or an Affiliate of the Company holds the Security.

     Section 2.11. Treasury Securities. In determining whether the Holders of the required
principal amount of Securities have given or concurred in any notice, request, demand,
authorization, direction, waiver or consent, Securities owned by the Company or any other obligor
on the Securities or by any Affiliate of the Company or of such other obligor shall be disregarded
and deemed not to be outstanding, except that, for purposes of determining whether the Trustee
shall be protected in relying on any such notice, direction, waiver or consent, only Securities
which a Trust Officer actually knows are so owned shall be so disregarded. Securities so owned
which have been pledged in good faith shall not be disregarded if the pledgee establishes to the
satisfaction of the Trustee the pledgee’s right so to act with respect to the Securities and that
the pledgee is not the Company or any other obligor on the Securities or any Affiliate of the
Company or of such other obligor.

     Section 2.12. Temporary Securities. Until definitive Securities are ready for delivery, the
Company may prepare and execute, and, upon receipt of a Company Order, the Trustee shall
authenticate and deliver, temporary Securities. Temporary Securities shall be substantially in the
form of definitive Securities but may have variations that the Company with the consent of the
Trustee considers appropriate for temporary Securities. After the preparation of definitive
Securities, the temporary Securities shall be exchangeable for definitive Securities upon surrender
of the temporary Securities at the office or agency of the Company designated for such purpose
pursuant to Section 2.05, without charge to the Holder. Upon surrender for cancellation of
any one or more temporary Securities the Company shall execute and the Trustee shall, upon receipt
of a Company Order (which the Company agrees to deliver without unreasonable delay), authenticate
and deliver in exchange therefor a like principal amount of definitive Securities of authorized
denominations. Until so exchanged the temporary Securities shall in all respects be entitled to
the same benefits under this Indenture as definitive Securities.

     Section 2.13. Cancellation. The Company at any time may deliver Securities to the Trustee
for cancellation. The Registrar, the Paying Agent and the Conversion Agent shall forward to the
Trustee or its agent any Securities surrendered to them for transfer,
exchange, payment, redemption, repurchase, conversion or cancellation. The Trustee and no one else shall cancel, in accordance with its standard procedures,
all Securities surrendered for transfer, exchange, payment,
redemption, repurchase, conversion or cancellation and shall
deliver the cancelled Securities to the Company.

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     All
Securities that are redeemed pursuant to Article 3, repurchased pursuant to Article 4 or otherwise acquired by the Company
shall be delivered to the Trustee for cancellation. If the Company shall acquire any of the
Securities, such acquisition shall not operate as a repurchase or satisfaction of the indebtedness
represented by such Securities unless and until the same are delivered to the Trustee for
cancellation.

     Section 2.14. Additional Transfer and Exchange Requirements.

     (a) Transfer and Exchange of Global Securities.

     (i) Certificated Securities may be issued in exchange for interests in the Global
Securities only (x) if the Depositary notifies the Company that it is unwilling or unable
to continue as Depositary for the Global Securities or if it at any time ceases to be a
“clearing agency” registered under the Exchange Act, if so required by applicable law or
regulation, and a successor Depositary is not appointed by the Company within 90 days, (y)
if an Event of Default has occurred and is continuing, or (z) by the Company in accordance
with the Applicable Procedures. In any such case, the Company shall execute, and the
Trustee shall, upon receipt of a Company Order (which the Company agrees to deliver
without unreasonable delay), authenticate and deliver Certificated Securities in an
aggregate principal amount equal to the principal amount of such Global Securities in
exchange therefor. Certificated Securities issued in exchange for beneficial interests in
Global Securities shall be registered in such names and shall be in such authorized
denominations as the Depositary, pursuant to instructions from its Agent Members or
otherwise in accordance with the Applicable Procedures, shall instruct the Trustee. The
Trustee shall deliver or cause to be delivered such
Certificated Securities to the Persons in whose name such Securities are so
registered. Such exchange shall be effected in accordance with the Applicable Procedures.

     (ii) Notwithstanding any other provisions of this Indenture other than the provisions
set forth in Section 2.14(a)(i), a Global Security may not be transferred except as a
whole by the Depositary to a nominee of the Depositary or by a nominee of the Depositary
to the Depositary or another nominee of the Depositary or by the Depositary or any such
nominee to a successor Depositary or a nominee of such successor Depositary.

     (b) Transfer and Exchange of Certificated Securities. If Certificated Securities are
issued in exchange for beneficial interests in Global Securities in accordance with Section
2.14(a)(i), and, on or after such event, Certificated Securities are presented by a Holder to the
Registrar with a request:

     (i) to register the transfer of the Certificated Securities to a Person who will take
delivery thereof in the form of Certificated Securities only; or

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     (ii) to exchange such Certificated Securities for an equal principal amount of
Certificated Securities of other authorized denominations,

such Registrar shall register the transfer or make the exchange as requested; provided, however,
that the Certificated Securities presented or surrendered for register of transfer or exchange
shall be duly endorsed or accompanied by a written instrument of transfer in accordance with the
proviso to Section 2.08(a).

     (c) Transfers of Certificated Securities for Beneficial Interest in Global Securities.
If Certificated Securities are issued in exchange for beneficial interests in Global Securities
and, thereafter, the events or conditions specified in Section 2.14(a)(i) which required such
exchange shall cease to exist, the Company shall mail notice to the Trustee and to the Holders
stating that Holders may exchange Certificated Securities for interests in Global Securities by
complying with the procedures set forth in this Indenture and briefly describing such procedures
and the events or circumstances requiring that such notice be given. Thereafter, if Certificated
Securities are presented by a Holder to a Registrar with a request:

     (i) to register the transfer of such Certificated Securities to a Person who will
take delivery thereof in the form of a beneficial interest in a Global Security, or

     (ii) to exchange such Certificated Securities for an equal principal amount of
beneficial interests in a Global Security, which beneficial interests will be owned by the
Holder transferring such Certificated Securities,

the Registrar shall register the
transfer or make the
exchange as requested by cancelling such Certificated Security and causing the
aggregate principal amount of the applicable Global Security to be increased accordingly
and, if no such Global Security is then outstanding, the Company shall issue and the
Trustee shall, upon receipt of a Company Order (which the Company agrees to deliver
without unreasonable delay) authenticate and deliver a new Global Security;
provided, however, that the Certificated Securities presented or surrendered for registration of
transfer or exchange shall be duly endorsed or accompanied by a written instrument of transfer in
accordance with the proviso to Section 2.08(a).

     (d) Transfers to the Company. Nothing contained in this Indenture or in the
Securities shall prohibit the sale or other transfer of any Securities (including beneficial
interests in Global Securities) to the Company or any of its Subsidiaries.

     Section 2.15. CUSIP Numbers. The Company in issuing the Securities may use one or more
“CUSIP” numbers (if then generally in use), and, if so, the Trustee shall use “CUSIP” numbers in
notices of purchase as a convenience to Holders; provided, however, that any such notice may state
that no representation is made as to the correctness of such numbers either as printed on the
Securities or as contained in any notice of a purchase and that reliance may be placed only on

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the other identification numbers printed on the Securities, and any such purchase shall not be affected
by any defect in or omission of such numbers. The Company shall without unreasonable delay notify
the Trustee of any change in the “CUSIP” numbers.

     Section 2.16. Persons Deemed Owners. Prior to due presentment of a Security 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 Security is registered as the owner of such Security for the purpose of
receiving payment of principal of, and interest (including Additional Interest, if any) on such
Security, for the purpose of receiving cash or a combination of cash
and shares of Common Stock, as applicable, upon
conversion and for all other purposes whatsoever, whether or not such Security is overdue, and none
of the Company, the Trustee nor any agent of the Company or the Trustee shall be affected by notice
to the contrary.

     Section 2.17. Ranking. The obligations of the Company arising under or in connection with
this Indenture and every outstanding Security issued under this Indenture from time to time
constitute and shall constitute a general unsecured senior obligation of the Company, ranking
equally with existing and future senior unsecured indebtedness of the Company and ranking senior in
right of payment to any future indebtedness of the Company that is expressly made subordinate to
the Securities by the terms of such indebtedness.

ARTICLE 3

Redemption

     Section 3.01. Optional Redemption. (a) The Securities may be redeemed in whole or in part at
the option of the Company at any time on or after June 15, 2012, if the Closing Sale Price of the
Company’s Common Stock has been greater than or equal to 130% of the Conversion Price then in
effect for at least 20 Trading Days during the 30 consecutive Trading
Day period immediately prior to any date
on which the Company provides notice of redemption.

     (b) The redemption price at which the Securities are redeemable (the “Redemption Price”) shall
be payable in cash and shall be, if any equal to 100% of the principal amount of Securities being redeemed,
together with accrued and unpaid interest (including Additional
Interest, if any), if any to, but
excluding, the Redemption Date; provided, however, that if Securities are redeemed after a Record
Date and on or prior to the corresponding Interest Payment Date, the interest (including Additional
Interest, if any) payable in respect of such Interest Payment Date shall be payable to the Holders
of record at the Close of Business on the corresponding Record Date.

     (c) The Company may not redeem any Securities unless all accrued and unpaid interest
(including Additional Interest, if any) thereon has been or is simultaneously paid for all
semi-annual periods or portions thereof terminating prior to the Redemption Date.

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     (d) Notwithstanding any other provision of this Indenture, the Company shall make at least six
semi-annual payments of interest to the Holders (including interest payments on December 15, 2009
and June 15, 2012) in the full amount required hereunder before any redemption of the Securities
pursuant to this Section 3.01.

     (e) Except as provided in this Section 3.01, the Securities shall not be redeemable by the
Company.

     Section 3.02. Selection of Securities to Be Redeemed. (a) If fewer than all the Securities
are to be redeemed, the Trustee shall select the Securities to be redeemed pro rata or by lot or by
any other method the Trustee considers fair and appropriate (so long as such method is not
prohibited by the rules of the NASDAQ Global Select Market or any stock exchange on which the
Securities are then listed, as applicable). The Trustee shall make the selection within 7 days
from its receipt of the notice from the Company delivered pursuant to Section 3.03 from outstanding
Securities not previously called for redemption.

     (b) Securities and portions thereof that the Trustee selects shall be in principal amounts of
$1,000 or multiples of $1,000. Provisions of this Indenture that apply to Securities called for
redemption in whole also apply to Securities called for redemption in part. The Trustee shall
notify the Company promptly of the Securities or portions of Securities to be redeemed.

     (c) If any Security is selected for partial redemption, a new Security in principal amount
equal to the unredeemed principal portion will be issued to the Holder. If any Security selected
for partial redemption is converted in part before termination of the conversion right with respect
to the portion of the Security so selected, the converted portion of such Security shall be deemed
(so far as may be) to be the portion selected for redemption. Securities which have been converted
during a selection of Securities to be redeemed may be treated by the Trustee as outstanding for
the purpose of such selection.

     Section 3.03. Notice of Redemption. Not less than 20 days but not more than 60 days before a
Redemption Date, the Company shall, or shall cause the Trustee to, mail a notice of redemption by
first-class mail, postage prepaid, to the Trustee, the Paying Agent and each Holder of Securities
to be redeemed.

     The notice shall specify the Securities to be redeemed and shall state:

     (i) the Redemption Date;

     (ii) the Redemption Price;

     (iii) the applicable Conversion Price;

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

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

     (vi) that Holders who want to convert Securities must satisfy the requirements set
forth therein and in this Indenture;

     (vii) that Securities called for redemption must be surrendered to the Paying Agent
for cancellation to collect the Redemption Price;

     (viii) if fewer than all the outstanding Securities are to be redeemed, the
certificate numbers (if such Securities are held other than in global form) and principal
amounts of the particular Securities to be redeemed;

     (ix) that, unless the Company defaults in making payment of such Redemption Price,
interest (including Additional Interest, if any) will cease to accrue on and after the
Redemption Date; and

     (x) the CUSIP number of the Securities.

     If any of the Securities to be redeemed is in the form of a Global Security, then the Company
shall modify such notice to the extent necessary to accord with
the procedures of the Depositary applicable to redemptions. At the Company’s written request
delivered at least 15 days prior to the date such notice is to be given (unless a shorter time
period shall be acceptable to the Trustee), the Trustee shall give the notice of redemption to each
Holder of Securities to be redeemed in the Company’s name and at the Company’s expense.

     Section 3.04. Effect of Notice of Redemption. Once notice of redemption is given, Securities
called for redemption become due and payable on the Redemption Date and at the Redemption Price
stated in the notice except for Securities that are converted in accordance with the terms of this
Indenture. Upon surrender to the Paying Agent, such Securities shall be paid at the Redemption
Price stated in the notice.

     Section 3.05. Deposit of Redemption Price. Prior to 10:00 a.m., New York City time, on a
Redemption Date, the Company shall deposit with the Paying Agent (or if the Company or a Subsidiary
or an Affiliate of either of them is the Paying Agent, shall segregate and hold in trust) money
sufficient to pay the Redemption Price of all Securities to be redeemed on that date other than
Securities or portions of Securities called for redemption which on or prior thereto have been
delivered by the Company to the Trustee for cancellation or have been converted. The Paying Agent
shall as promptly as practicable return to the Company any money not required for that purpose
because of conversion of Securities pursuant to Article 5. If such money is then held by the
Company in trust and is not required for such purpose it shall be discharged from such trust.

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     If the Paying Agent holds money sufficient to pay the Redemption Price with respect to the
Securities to be redeemed on the Redemption Date in accordance with the terms of this Indenture
then, immediately on and after the Redemption Date, interest on such Securities shall cease to
accrue, whether or not the Securities are delivered to the Paying Agent, and all other rights of
the Holders of such Securities shall terminate, other than the right to receive the Redemption
Price upon delivery of such Security.

     Section 3.06. Securities Redeemed in Part. In case of any redemption of Securities in part,
the Company shall not be required to (a) issue, register the transfer of or exchange any Security
during a period of 15 days before the mailing of the Redemption Notice; or (b) register the
transfer of or exchange any Security so selected for redemption, in whole or in part, except the
unredeemed portion of any Security being redeemed in part. Any Security which is to be redeemed
only in part shall be surrendered at the office of the Paying Agent (with, if the Company or the
Trustee so requires, due endorsement by, or a written instrument of transfer in form satisfactory
to the Company and the Trustee duly executed by, the Holder thereof or such Holder’s attorney duly
authorized in writing) and, upon presentation and surrender of a Security that is redeemed in part,
the Company shall execute and, upon the Company’s written request, the Trustee shall authenticate
and deliver to the Holder, at the expense of the Company, a new Security equal in principal amount
to the unredeemed portion of the Security surrendered.

ARTICLE 4

Put Option upon Fundamental Change

     Section 4.01. Repurchase of Securities at Option of Holders Upon a Fundamental Change. (a) In
the event of a Fundamental Change at any time that Securities remain outstanding, Securities shall
be repurchased by the Company, at the option of any Holder thereof, on a date specified by the
Company that is not less than 20 nor more than 45 Business Days after the date the Company mails or
deposits with an overnight delivery service the Fundamental Change Company Notice (as defined
below) to the Holders (the “Fundamental Change Repurchase Date”), at a purchase price in cash for
each $1,000 principal amount of such Securities equal to 100% of the principal amount of the
Securities tendered for purchase, plus accrued and unpaid interest thereon, including Additional
Interest, if any, to, but excluding, the Fundamental Change Repurchase Date (the “Fundamental
Change Repurchase Price”), subject to satisfaction by or on behalf of any Holder of the
requirements set forth in Section 4.01(c); provided, however, that if any Security is repurchased
pursuant to this Section 4.01 between a regular Record Date and any Interest Payment Date, the
interest, including Additional Interest, if any, payable with respect to such Security on such
Interest Payment Date shall be payable to the Holder of record as of the corresponding Record Date.

     A “Fundamental Change” shall be deemed to have occurred upon the occurrence of any of the
following:

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     (1) any person or group (other than the Company, any Subsidiary of the Company or any
employee benefit plan of the Company or any of its Subsidiaries) files a Schedule 13D or
Schedule TO, or any successor schedule, form or report under the Exchange Act, disclosing,
or the Company otherwise becomes aware, that such person is or has become the beneficial
owner, directly or indirectly, of shares of the Company’s Voting Stock representing 50% or
more of the total voting power of all outstanding classes of the Company’s Voting Stock or
has the power, directly or indirectly, to elect a majority of the members of the Board of Directors of the Company;

     (2) the Company consolidates with, or merges with or into, another Person or the
Company sells, assigns, conveys, transfers, leases or otherwise disposes of all or
substantially all of the Company’s assets, or any Person consolidates with, or merges with
or into, the Company, in any such event other than pursuant to a transaction in which (a)
the Common Stock is not changed or exchanged except to the extent necessary to reflect a
change in the jurisdiction of organization or (b) the Persons that beneficially owned,
directly or indirectly, shares of the Company’s Voting Stock immediately prior to such
transaction beneficially own, directly or indirectly, shares of Voting Stock representing
a majority of the total
voting power of all outstanding classes of Voting Stock of the surviving or
transferee Person;

     (3) the Common Stock, or other common stock into which the Securities are then
convertible, ceases to be listed on the NASDAQ Global Select Market, the New York Stock
Exchange or another U.S. national securities exchange and is not then quoted on an
established automated over-the-counter trading market in the United States; or

     (4) the adoption of any plan relating to the liquidation or dissolution of the
Company.

     Notwithstanding anything to the contrary set forth in this Section 4.01, a Fundamental Change
as a result of clause (2) of the definition thereof shall not be deemed to have occurred if at
least 90% of the consideration (excluding cash payments for fractional shares and cash payments
pursuant to dissenters’ appraisal rights) in the merger or consolidation otherwise constituting the
Fundamental Change consists of common stock or depositary receipts traded or quoted on a U.S. national
securities exchange (or which shall be
so traded when issued or exchanged in connection with such Fundamental Change) and as a result of
such transaction or transactions the Securities become convertible solely into shares of such
common stock.

     For purposes of this Section 4.01(a):

     (1) a “beneficial owner” shall be determined in accordance with Rule 13d-3 under the Exchange
Act, as in effect on the date of this Indenture;

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     (2) “beneficially own” and “beneficially owned” have meanings correlative to that of
beneficial owner;

     (3) “Capital Stock” means: (i) in the case of a corporation, corporate stock; (ii) in the
case of an association or business entity, any and all shares, interests, participations, rights or
other equivalents (however designated) of corporate stock; (iii) in the case of a partnership or
limited liability company, partnership interests (whether general or limited) or membership
interests; or (iv) any other interest or participation that confers on a Person the right to
receive a share of the profits and losses of, or distributions of assets of, the issuing Person;

     (4) “person”
and “group” shall have the meanings given to them for purposes of Sections 13(d)
and 14(d) of the Exchange Act or any successor provisions, and the term “group” includes any group
acting for the purpose of acquiring, holding or disposing of securities within the meaning of Rule
13d-5(b)(1) under the Exchange Act, or any successor provision; and

     (5) “Voting Stock” means any class or classes of Capital Stock or other interests then
outstanding and normally entitled (without regard to the occurrence of any contingency) to vote in
the election of the Board of Directors, managers or trustees of a
Person.

     (b) Notice of Fundamental Change. The Company shall provide notice to the Trustee and
each Holder (and, in the case of a Fundamental Change Company Notice pursuant to clause (y) of this
Section 4.01(b), each beneficial owner if required by applicable law) in accordance with Section
13.02 (x) as soon as practicable and in any event at least 25 Scheduled Trading Days prior to the
anticipated effective date of a Fundamental Change (without giving effect to the exception
regarding publicly traded securities contained in the paragraph immediately following the
definition of Fundamental Change in Section 4.01(a)), in the
case of a Fundamental Change that is known to the Company, or if not known
to the Company prior to such 25th Scheduled Trading Day, then within two Trading Days after the
Company becomes aware of such Fundamental Change (the
“Effective Date Notice”), and (y) within 15
Business Days after the effective date of a Fundamental Change (the “Fundamental Change Company
Notice”). The Fundamental Change Company Notice delivered to each Holder (and each beneficial
owner, if applicable) pursuant to clause (y) of this Section 4.01(b) shall include the form of a
Fundamental Change Repurchase Notice to be completed by the Holder and shall state, as applicable:

     (1) the events causing a Fundamental Change;

     (2) the effective date of such Fundamental Change;

     (3) that the Holder has a right to require the Company to purchase the Holder’s Securities;

25

 

     (4) the date by which the Fundamental Change Repurchase Notice must be delivered to the Paying
Agent in order for a Holder to exercise the Fundamental Change repurchase right;

     (5) the Fundamental Change Repurchase Price;

     (6) the Fundamental Change Repurchase Date;

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

     (8) that the Securities must be surrendered to the Paying Agent to collect payment of the
Fundamental Change Repurchase Price;

     (9) that the Fundamental Change Repurchase Price for any Security as to which a Fundamental
Change Repurchase Notice has been duly given and not withdrawn shall be paid promptly following the
later of the Fundamental Change Repurchase Date and the time of surrender of such Security;

     (10) the applicable Conversion Rate and any adjustments to the Conversion Rate that will
result from the Fundamental Change;

     (11) that the Securities with respect to which a Fundamental Change Repurchase Notice has been
given may be converted pursuant to Article 5 of this Indenture only if the Fundamental Change
Repurchase Notice has been withdrawn in accordance with the terms of this Indenture;

     (12) the procedures that the Holder must follow to exercise its Fundamental Change repurchase
right under this Section 4.01;

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

     (14) that, unless the Company defaults in making payment of such Fundamental Change Repurchase
Price interest, including Additional Interest, if any, on Securities surrendered for purchase by
the Company, if any, shall cease to accrue on and after the Fundamental Change Repurchase Date; and

     (15) the CUSIP number(s) of the Securities.

     If any of the Securities is in the form of a Global Security, then the Company shall modify
such notice to the extent necessary to accord with the Applicable Procedures applicable to
repurchases.

     At the Company’s request, the Trustee shall give notice of such Fundamental Change on behalf
of the Company and at the Company’s expense; provided, however, that the Company makes such request
at least three Business Days (unless a shorter period shall be satisfactory to the Trustee) prior
to the date by which such Fundamental Change Company Notice must be given to the

26

 

Holders in accordance with this Section 4.01(b); provided further, however, that the text of such notice shall
be prepared by the Company.

     No failure of the Company to give the foregoing notices and no defect therein shall limit any
Holder’s repurchase rights or affect the validity of the proceedings for the repurchase of the
Securities pursuant to this Section 4.01.

     (c) Fundamental Change Repurchase Notice. A Holder may exercise its right specified
in Section 4.01(a) upon delivery of a written notice (which shall be in substantially the form
included in Exhibit A hereto and which may be delivered by letter, overnight courier, hand
delivery, facsimile transmission or in any other written form and, in the case of Global
Securities, may be delivered electronically or by other means in accordance with the Applicable
Procedures) of the exercise of such rights (a “Fundamental Change Repurchase Notice”), to a Paying
Agent, and such Fundamental Change Repurchase Notice must be received by the Paying Agent, at any
time prior to the Close of Business on the Business Day immediately preceding the Fundamental
Change Repurchase Date. The Fundamental Change Repurchase Notice must state:

	 	(1)	 	if Certificated Securities are to be delivered, the certificate numbers of
the Securities that the Holder shall deliver to be purchased;
	 
	 	(2)	 	the portion of the principal amount of the Securities that the Holder shall
deliver to be purchased, which portion must be in principal amounts of $1,000 or a
multiple thereof; and
	 
	 	(3)	 	that such Securities shall be purchased by the Company on the Fundamental
Change Repurchase Date pursuant to the terms and conditions specified in this Indenture.

     The delivery of such Security to any Paying Agent (together with all necessary endorsements)
at the office of such Paying Agent shall be a condition to the receipt by the Holder of the
Fundamental Change Repurchase Price; provided, however, that such Fundamental Change Repurchase
Price shall be paid pursuant to this Section 4.01 only if the Security so delivered to the Paying
Agent shall conform in all respects to the description thereof in the related Fundamental Change
Repurchase Notice.

     The Company shall purchase from the Holder thereof, pursuant to this Section 4.01, a portion
of a Security if the principal amount of such portion is $1,000 or a multiple of $1,000.
Provisions of this Article 4 that apply to the purchase of all of a Security also apply to the
purchase of such portion of such Security.

     Notwithstanding anything herein to the contrary, any Holder delivering to the Paying Agent the
Fundamental Change Repurchase Notice contemplated by

27

 

this Section 4.01(c) shall have the right to withdraw such Fundamental Change Repurchase Notice in
accordance with Section 4.02(b).

     A Paying Agent shall promptly notify the Company of the receipt by it of any Fundamental
Change Repurchase Notice or written notice of withdrawal thereof.

     (d) Notwithstanding anything herein to the contrary, in the case of Global Securities, any
Fundamental Change Repurchase Notice must be delivered or withdrawn and such Securities must be
surrendered or delivered for purchase in accordance with the Applicable Procedures.

     Section 4.02. Effect of Fundamental Change Repurchase Notice; Withdrawal. (a) Upon receipt
by any Paying Agent of the Fundamental Change Repurchase Notice specified in Section 4.01(c) and
the delivery to any Paying Agent of the Security in respect of which such Fundamental Change
Repurchase Notice was given, in the manner required by Section 4.01(c), the Holder of such Security
shall (unless such Fundamental Change Repurchase Notice is withdrawn as specified below) thereafter
be entitled to receive the Fundamental Change Repurchase Price with respect to such Security. Such
Fundamental Change Repurchase Price shall be paid to such Holder promptly following the later of
(i) the Fundamental Change Repurchase Date with respect to such Security (provided the conditions
in Section 4.01(c) have been satisfied) and (ii) the time of delivery of such Security to a Paying
Agent by the Holder thereof in the manner required by Section 4.01(c). Securities in respect of
which a Fundamental Change Repurchase Notice has been given by the Holder thereof may not be
converted into shares of Common Stock pursuant to Article 5 hereof on or after the date of the
delivery of such Fundamental Change Repurchase Notice, unless such Fundamental Change Repurchase
Notice has first been validly withdrawn in accordance with Section 4.02(b).

     (b) A Fundamental Change Repurchase Notice may be withdrawn (in whole or in part) upon
delivery of a written notice of withdrawal (which may be delivered by mail, overnight courier, hand
delivery, facsimile transmission or in any other written form and, in the case of Global
Securities, must be delivered electronically or by other means in accordance with the Applicable
Procedures) to a Paying Agent, and such written notice of withdrawal must be received by the Paying
Agent, at any time prior to the Close of Business on the Business Day immediately preceding the
Fundamental Change Repurchase Date, specifying:

     (i) if Certificated Securities are to be withdrawn, the certificate numbers of the
Securities in respect of which such notice of withdrawal is being submitted;

     (ii) the principal amount of the Securities in respect of which such notice of
withdrawal is being submitted; and

28

 

     (iii) the principal amount, if any, of the Securities that remains subject to the
original Fundamental Change Repurchase Notice and that has been or shall be delivered for
purchase by the Company.

     Section 4.03. Deposit of Fundamental Change Repurchase Price. Prior to 10:00 a.m., New York
City time, on the Fundamental Change Repurchase Date, the Company shall deposit with the Paying
Agent (or if the Company or an Affiliate is acting as the Paying Agent, shall segregate and hold in
trust as provided in Section 2.06) an amount in cash (in immediately available funds if deposited
on such Fundamental Change Repurchase Date) sufficient to pay the aggregate Fundamental Change
Repurchase Price of all the Securities or portions thereof that are to be purchased on that
Fundamental Change Repurchase Date.

     If a Paying Agent holds, in accordance with the terms hereof, at 10:00 a.m., New York City
time, on the applicable Fundamental Change Repurchase Date, cash sufficient to pay the Fundamental
Change Repurchase Price of any Security for which a Fundamental Change Repurchase Notice has been
delivered and not validly withdrawn in accordance with Section 4.02(b) of this Indenture, then,
immediately after such Fundamental Change Repurchase Date, such Securities shall cease to be
outstanding and interest (including Additional Interest, if any) shall cease to accrue thereon,
whether or not such Securities are delivered to the Paying Agent, and the rights of the Holders in
respect thereof shall terminate (other than the right to receive the Fundamental Change Repurchase
Price upon delivery of such Securities by their Holders to the Paying Agent).

     Section 4.04. Securities Repurchased in Part. Any Certificated Security that is to be
purchased only in part shall be surrendered at the office of a Paying Agent (with, if the Company
or the Trustee so requires, due endorsement by, or a written instrument of transfer in form
satisfactory to the Company and the Trustee duly executed by, the Holder thereof or such Holder’s
attorney duly authorized in writing), and promptly after the Fundamental Change Repurchase Date,
the Company shall issue and the Trustee shall, upon receipt of a Company Order (which the Company
agrees to deliver without unreasonable delay), authenticate and deliver to the Holder of such
Security, without service charge, a new Security or Securities, of such authorized denomination or
denominations as may be requested by such Holder, in aggregate principal amount equal to, and in
exchange for, the portion of the principal amount of the Security so surrendered that is not
purchased.

     Section 4.05. Repayment to the Company. To the extent that the aggregate amount of cash
deposited by the Company pursuant to Section 4.03 exceeds the aggregate Fundamental Change
Repurchase Price of the Securities or portions thereof that the Company is obligated to purchase on
the Fundamental Change Repurchase Date, then,
promptly after the Fundamental Change Repurchase Date, the Paying Agent shall return any such
excess cash to the Company.

29

 

     Section 4.06. Compliance with Securities Laws upon Repurchase of Securities. When complying
with the provisions of Section 4.01 hereof, the Company shall to the extent applicable:

	 	(a)	 	comply with the provisions of Rule 13e-4, Rule 14e-1 and any other
tender offer rules under the Exchange Act that may then be applicable; and
	 
	 	(b)	 	otherwise comply with all federal and state securities laws so as to
permit the rights and obligations in connection with any purchase pursuant to a
Fundamental Change to be exercised in the time and in the manner specified therein.

ARTICLE 5

Conversion

     Section 5.01. Conversion Privilege. (a) Subject to and upon compliance with the further
provisions of this Article 5 and Paragraph 7 of the Securities, a Holder may convert its Securities
(or any portion thereof equal to $1,000 principal amount or a multiple of $1,000 principal amount
in excess thereof) at the Conversion Rate, subject to adjustments as set forth in this Article 5,
(x) on or after March 15, 2014, without regard to the conditions described in clauses (i) through
(v) below and (y) prior to March 15, 2014, only upon the satisfaction of any of the conditions
described in clauses (i) through (v) below; provided that, in the case of any conversion pursuant
to this Article 5, the Holder must deliver a Conversion Notice (as defined below) no later than the
Close of Business on the third Business Day immediately preceding the Maturity Date.

     (i) A Holder may surrender its Securities for conversion during any calendar quarter
beginning after September 30, 2009, and only during such calendar quarter, if the Closing
Sale Price of the Common Stock for 20 or more Trading Days in a period of 30 consecutive
Trading Days ending on the last Trading Day of the immediately preceding calendar quarter
is greater than 130% of the Conversion Price on the last Trading Day of such preceding
calendar quarter (the “Conversion Trigger Price”). The Conversion Agent will, on the
Company’s behalf, determine at the beginning of each calendar quarter commencing at any
time after September 30, 2009 whether the Securities are convertible as the result of the
satisfaction of this condition in the preceding calendar quarter and shall notify the
Company and the Trustee accordingly.

     (ii) A Holder may surrender its Securities for conversion during the five Business
Day period following any 10 consecutive Trading Day period (the “Measurement Period”) in
which the Trading Price per $1,000 principal amount of Securities, all as determined by
the Bid Solicitation Agent following a request by the Company in accordance with this
Section 5.01(a)(ii), for each Trading Day of such Measurement Period was less than 98% of
the product of the Closing Sale Price of the Common

30

 

Stock for such Trading Day and the
applicable Conversion Rate. In connection with any conversion in accordance with this
Section 5.01(a)(ii), the Bid Solicitation Agent shall have no obligation to determine the
Trading Price of the Securities unless requested by the Company to do so in writing; and
the Company shall have no obligation to make such request unless a Holder of at least
$2,000,000 principal amount of Securities provides the Company with reasonable evidence
that the Trading Price per $1,000 principal amount of Securities would be less than 98% of
the product of the Closing Sale Price of the Common Stock and the applicable Conversion
Rate on such date and such Holder requests that the Company request the Bid Solicitation
Agent to determine the Trading Prices of the Securities. Promptly after receiving such
evidence, the Company shall instruct the Bid Solicitation Agent to determine the Trading
Price of the Securities beginning on the next Trading Day and on each successive Trading
Day until the Trading Price per $1,000 principal amount of Securities is greater than or
equal to 98% of the product of the Closing Sale Price of the Common Stock and the
applicable Conversion Rate on such date. If the Company does not, when obligated to,
instruct the Bid Solicitation Agent to determine the Trading Price of the Securities as
provided in the preceding sentence, then the Trading Price per $1,000 principal amount of
Securities will be deemed to be less than 98% of the product of the Closing Sale Price of
the Common Stock and the applicable Conversion Rate on each day the Company fails to so
instruct the Bid Solicitation Agent. If the Trading Price condition set forth above has
been met, the Company shall so notify the Holders in the manner set forth in Section
13.02. If, at any time after the Trading Price condition set forth above has been met,
the Trading Price per $1,000 principal amount of Securities is greater than or equal to
98% of the product of the Closing Sale Price of the Common Stock and the applicable
Conversion Rate, the Company shall so notify the Holders in the manner set forth in
Section 13.02.

     (iii) If the Company elects to:

     (A) distribute, to all or substantially all holders of Common Stock,
rights, warrants or options (other than pursuant to the Company’s preferred
stock rights plan or any successor plan thereto) entitling such holders to, for
a period of not more than 60 calendar days from the record date of such
distribution, subscribe for or purchase shares of Common Stock at a price per
share less
than the average of the Closing Sale Prices of Common Stock for each of the
10 consecutive Trading Days immediately preceding the date that such
distribution was first publicly announced; or

     (B) distribute, to all or substantially all holders of Common Stock, cash
or other assets, debt securities or certain rights or warrants to purchase the
Company’s securities, which distribution has a per share value exceeding 15% of
the average of

31

 

the Closing Sale Prices of the Common Stock for the 10
consecutive Trading Days immediately preceding the date that such distribution
was first publicly announced,

then, in each case, the Company shall notify the Holders in the manner set forth in
Section 13.02 at least 25 Scheduled Trading Days prior to the first date on which the
shares of 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 (the “Ex Date”). Once the Company has given the notice, Holders may surrender
their Securities for conversion at any time until the earlier of (x) the Close of Business
on the Business Day immediately prior to the Ex Date and (y) the Company’s announcement
that such distribution will not take place. Notwithstanding the foregoing, Holders may
not surrender their Securities for conversion under this Section 5.01(a)(iii) if they
are otherwise able to participate in such distribution due to the participation of Holders in such distribution.

     (iv) If a transaction or event that constitutes a Fundamental Change (without giving
effect to the exception regarding publicly traded securities contained in the paragraph
immediately following the definition of Fundamental Change in Section 4.01(a)) occurs, the
Company shall notify the Holders (i) in the manner set forth in Section 13.02 as soon as
practicable and in any event at least 25 Scheduled Trading Days prior to the anticipated
effective date of such transaction, in the case of a transaction that is known to the Company prior to such 25th Scheduled Trading
Day, or within two Trading Days after the Company becomes aware of such transaction, in the case of a transaction that is not known to the
Company prior to such 25th Scheduled Trading Day and (ii) within 15 Business Days after
the effective date of such transaction. Once the Company has given the notice, Holders
may surrender their Securities for conversion under this Section 5.01(a)(iv) at any time
beginning 10 Trading Days before the anticipated effective date of such transaction until
35 calendar days after the actual effective date of such transaction (or if such
transaction also constitutes a Fundamental Change, until the Close of Business on the
Business Day immediately preceding the related Fundamental Change Repurchase Date, if
later).

     (v) A Holder may surrender its Securities for conversion if the Company calls such
Securities for redemption as provided in Article 3, at any time prior to the Close of
Business on the Business Day immediately preceding the Redemption Date, even if the
Securities are not otherwise convertible at such time, after which time the Holder’s right
to convert its Securities pursuant to this Section 5.01(a)(v) will expire unless the
Company defaults in the payment of the Redemption Price. If the Holder already has
delivered a Fundamental Change Repurchase Notice with respect to a Security, the Holder
may not surrender that Security for conversion until the Holder has withdrawn the
Fundamental Change Repurchase Notice in accordance with this Indenture.

32

 

     (b) The cash payable, and the number of shares of Common Stock issuable, if any, on conversion
of a Security shall be determined as set forth in Section 5.03.

     Section 5.02. Conversion Procedures. (a) The right of conversion attaching to any Security
may be exercised (i) if such Security is represented by a Global Security, by book-entry transfer
to the Conversion Agent through the facilities of the Depositary in accordance with the Applicable
Procedures, or (ii) if such Security is represented by a Certificated Security, by delivery of such
Security at the specified office of the Conversion Agent, accompanied, in either case, by: (1) a
duly signed and completed conversion notice, in the form as set forth on the reverse of Security
attached hereto as Exhibit A (a “Conversion Notice”), which once delivered, shall be
irrevocable; (2) if such Certificated Security has been lost, stolen, destroyed or mutilated, a
notice to the Conversion Agent in accordance with Section 2.09 regarding the loss, theft,
destruction or mutilation of the Security; (3) appropriate endorsements and transfer documents if
required by the Registrar or the Conversion Agent; (4) payment of any tax or duty, in accordance
with Section 5.04; and (5) payment of any interest (including Additional Interest, if any) payable
on the Securities in accordance with Section 5.03(c). The date on which the Holder satisfies all of
the requirements specified in this Section 5.02 shall be the “Conversion Date.”

     (b) Each Conversion Notice shall state the name or names (with address or addresses) of the
Person or Persons in which any certificate or certificates for shares of Common Stock which shall
be issuable on such conversion shall be issued. All such Securities surrendered for conversion
shall, unless the shares of Common Stock issuable on conversion are to be issued in the same name
as the registered Holder of such Securities, be duly endorsed by, or be accompanied by instruments
of transfer in form satisfactory to the Company duly executed by, the registered Holder or its duly
authorized attorney.

     (c) Except as otherwise provided by Section 5.10, upon conversion of the Securities, the
Company shall deliver and shall issue to such Holder at the office of the Conversion Agent, the
cash amounts payable in respect of such conversion and a certificate or certificates for the number
of full shares of Common Stock issuable in respect of such conversion, if any, in accordance with
the provisions of this Article 5, no later than the third Business Day after the expiration of the
Conversion Reference Period. In case any Securities of a denomination greater than $1,000 shall be
surrendered for partial conversion, the Company shall execute and the Trustee shall authenticate
and deliver to the Holder of the Securities so surrendered, without charge to such Holder, new
Securities in authorized denominations in an aggregate principal amount equal to the
unconverted portion of the surrendered Securities.

     Each conversion shall be deemed to have been effected as to any such Securities (or portion
thereof) immediately prior to the Close of Business on the Conversion Date, and the Person in whose
name any certificate or certificates for shares of Common Stock shall be issuable upon such
conversion shall be deemed

33

 

to have become on said date the holder of record of the shares of Common
Stock represented thereby; provided, however, that in case of any such surrender on any date when
the stock transfer books of the Company shall be closed, the Person or Persons in whose name the
certificate or certificates for such shares of Common Stock are to be issued shall be deemed to
have become the record holder or holders thereof for all purposes on the next day on which such
stock transfer books are open, but such conversion shall be at the Conversion Rate in effect on the
date upon which such Securities shall be surrendered.

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

     (e) No Conversion Notice with respect to any Securities may be delivered by a Holder thereof
if such Holder also has delivered a Fundamental Change Repurchase Notice and not validly withdrawn
such Fundamental Change Repurchase Notice in accordance with the applicable provisions of Section
4.01.

     Section 5.03. Payment upon Conversion. (a) If a Holder surrenders its Securities for
conversion, the Company shall deliver, in respect of each $1,000 principal amount of Securities
surrendered for conversion, a “Settlement Amount” equal to the sum of the Daily Settlement Amounts
for each of the 20 Trading Days during the Conversion Reference Period for such Security. The
“Daily Settlement Amount” for each of the 20 Trading Days during the Conversion Reference Period
shall consist of:

     (i) cash equal to the lesser of (x) $50 and (y) the Daily Conversion Value, and

     (ii) to the extent the Daily Conversion Value exceeds $50, a number of shares of
Common Stock (the “Daily Share Amount”) equal to (x) the difference between the Daily
Conversion Value and $50, divided by (y) the Daily VWAP for such day.

     (b) Upon conversion, Holders shall not receive any separate cash payment for accrued and
unpaid interest, including Additional Interest, if any, unless such conversion occurs between a
Record Date and the Interest Payment
Date to which it relates in which case such payment shall be payable to the Holder of
converted Securities as of the Record Date.

     (c) Securities surrendered for conversion during the period from the Close of Business of any
Record Date to 9:00 a.m., New York City time, on the immediately following Interest Payment Date,
must be accompanied by funds equal to the amount of interest (including any Additional Interest, if
any) payable on the Securities being converted; provided further, however, that such payment is not
required to be made (i) if the conversion is in connection with a redemption pursuant to Article 3
hereof and the Company has specified a Redemption Date

34

 

that is after a Record Date and on or prior
to the corresponding Interest Payment Date; (ii) if the conversion is in connection with a
Fundamental Change and the Company has specified a Fundamental Change Repurchase Date that is after
a Record Date and prior to the corresponding Interest Payment Date; (iii) with respect to any
Securities converted after the Record Date immediately preceding the Maturity Date of the
Securities; or (iv) to the extent of any overdue interest (including overdue Additional Interest,
if any), if overdue interest exists at the time of conversion with respect to the Securities being
converted.

     (d) The Company shall not issue fractional shares of Common Stock upon conversion of
Securities. If multiple Securities shall be surrendered for conversion at one time by the same
Holder, the number of full shares which shall be issuable upon conversion shall be computed on the
basis of the aggregate principal amount of the Securities (or specified portions thereof to the
extent permitted hereby) so surrendered. If any fractional share of Common Stock would be issuable
upon the conversion of any Securities, the Company shall make payment therefor in cash equal to the
fraction of a share of Common Stock otherwise issuable multiplied by the Daily VWAP for the final
Trading Day of the applicable Conversion Reference Period.

     Section 5.04. Taxes on Conversion. If a Holder converts a Security, the Company shall pay
any documentary, stamp or similar issue or transfer taxes or duties relating to the issuance or
delivery of shares of Common Stock, if any, upon exercise of such conversion rights. However, the
Holder shall pay any tax or duty which may be payable relating to any transfer involved in the
issuance or delivery of the Common Stock in a name other than the Holder’s name. The Conversion
Agent may refuse to deliver the certificate representing the Common Stock being issued in a name
other than the Holder’s name until the Conversion Agent receives a sum sufficient to pay any tax or
duties which will be due because the shares are to be issued in a name other than the Holder’s
name. Nothing herein shall preclude any tax withholding required by law or regulation.

     Section 5.05. Company to Provide Stock. (a) The Company shall, prior to the issuance of any
Securities hereunder, and from time to time as may be necessary, reserve at all times and keep
available, free from preemptive rights, out of its authorized but unissued Common Stock, a
sufficient number of shares of Common Stock to permit delivery upon conversion of all of the
Securities.

     (b) All shares of Common Stock that may be issued upon conversion of the Securities shall be
newly issued shares or shares held in the treasury of the Company, shall be duly authorized,
validly issued, fully paid and nonassessable and shall be free of any preemptive rights and free of
any lien or adverse claim.

     (c) The Company shall endeavor to comply with all applicable securities laws regulating the
offer and delivery of shares of Common Stock, if any, upon conversion of Securities and shall list
or cause to have quoted such shares of Common Stock on the NASDAQ Global Select Market, the New
York Stock Exchange or any other U.S. national securities exchange or in the

35

 

established automated
over-the-counter trading market in the United States on which the Common Stock is then listed or
quoted; provided, however, that, if the rules of such automated quotation system or exchange permit
the Company to defer the listing of such Common Stock until the first conversion of the Securities
into Common Stock in accordance with the provisions of this Indenture, the Company covenants to
list such Common Stock issuable upon conversion of the Securities in accordance with the
requirements of such automated quotation system or exchange at such time.

     Section 5.06. Adjustment of Conversion Rate. The Conversion Rate shall be adjusted from time
to time by the Company if any of the following events occurs, except that the Company will not make
any adjustment if Holders of Securities may participate, as a result of holding the Securities, in
the transactions described in this Section 5.06 without having to convert their Securities:

     (a) If the Company issues shares of Common Stock as a dividend or distribution on shares of
Common Stock, which dividend or distribution consists exclusively of shares of Common Stock, or
subdivides or combines of the outstanding Common Stock, the Conversion Rate will be adjusted based on
the following formula:

	 	 	 
	 
	CR1 = CR0 x 	OS1
OS0

where

	 	 	 	 	 	 	 
	 

	 	CR0
	 	=
	 	the Conversion Rate in effect immediately prior to the Opening of
Business on the Ex Date of such dividend or distribution, or the effective date of
such share split or share combination, as applicable;
	 
	 	 	 	 	 	 
	 

	 	CR1
	 	=
	 	the Conversion Rate in effect immediately after the Opening of Business
on such Ex Date or effective date;
	 
	 	 	 	 	 	 
	 

	 	OS0
	 	=
	 	the number of shares of Common Stock outstanding immediately prior to
such Ex Date or effective date; and
	 
	 	 	 	 	 	 
	 

	 	OS1
	 	=
	 	the number of shares of Common Stock outstanding immediately after the
Opening of Business on such Ex Date or effective date after giving effect to such
dividend, distribution, subdivision or share combination.

     Any adjustment made pursuant to this Section 5.06(a) shall become effective immediately after
the Opening of Business on the Ex Date for such dividend or distribution, or the effective date for
such subdivision or combination. If any dividend or distribution of the type described in this
Section 5.06(a) is declared but not paid or made, or the outstanding shares of Common Stock are not
subdivided or combined, as the case may be, the Conversion Rate shall be immediately readjusted,
effective as of the date the Board of Directors of the Company determines

36

 

not to pay such dividend or
distribution, or to effect such subdivision or combination to the Conversion Rate that would then
be in effect if such dividend, distribution, or subdivision or combination had not been declared or
announced.

     (b) If the Company issues to all or substantially all holders of the Common Stock rights,
warrants or options (other than pursuant to the Company’s preferred stock rights plan or any
successor plan thereto) entitling such holders for a period of not more than 60 calendar days after
the announcement of such issuance to subscribe for or purchase shares of Common Stock, at a price
per share or a Conversion Price per share less than the average of the Closing Sale Prices of the
Common Stock for the 10 consecutive Trading Days immediately preceding the date that such
distribution was first publicly announced, the Conversion Rate will be adjusted based on the
following formula:

	 	 	 
	 
	CR1 = CR0 x  	OS0 + X
OS0 + Y

     where

	 	 	 	 	 	 	 
	 

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

	 	CR1
	 	=
	 	the Conversion Rate in effect immediately after the Opening of Business
on such Ex Date for such issuance;
	 
	 	 	 	 	 	 
	 

	 	OS0
	 	=
	 	the number of shares of Common Stock outstanding immediately prior to the
Opening of Business on the Ex Date;
	 
	 	 	 	 	 	 
	 

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

	 	Y
	 	=
	 	the number of shares of Common Stock equal to the aggregate price payable
to exercise such rights or warrants divided by the average of the Closing Sale Prices
of the Common Stock for the 10 consecutive Trading Days immediately preceding the
date that the distribution of such rights, warrants or options was first publicly
announced.

     The adjustment described in this Section 5.06(b) shall be successively made whenever any such
rights, warrants or options are distributed and shall become effective immediately after the
Opening of Business on the Ex Date for such issuance. If such rights, warrants or options are not
so issued, the Conversion Rate shall be adjusted to be the Conversion Rate that would then be in
effect if such Ex Date for such issuance had not been fixed. In addition, to the extent that
shares of Common Stock are not delivered after the expiration of such rights, warrants or options,
the Conversion Rate shall be readjusted to the Conversion Rate that would then be in effect had the
adjustments made upon the

37

 

issuance of such rights, warrants or options been made on the basis of
only the number of shares of Common Stock actually delivered.

     In determining whether any rights, warrants or options entitle the Holders to subscribe for or
purchase shares of Common Stock at less than such average of the Closing Sale Prices, and in
determining the aggregate offering price of such shares of Common Stock, there shall be taken into
account any consideration received by the Company for such rights, warrants or options and any
amount payable on exercise or conversion thereof, with the value of such consideration, if other than
cash, to be determined by the Board of Directors of the Company.

     For the purposes of this Section 5.06(b), rights, warrants or options distributed by the
Company to all or substantially all holders of its Common Stock entitling them to subscribe for or
purchase shares of the Company’s Capital Stock (either initially or under certain circumstances),
which rights, warrants or options, until the occurrence of a specified event or events (a “Trigger
Event”): (1) are deemed to be transferred with such shares of Common Stock; (2) are not
exercisable; and (3) also are issued in respect of future issuances of Common Stock, shall be
deemed not to have been distributed for purposes of this Section 5.06(b) and no adjustment to the
Conversion Rate under this Section 5.06(b) shall be required until the occurrence of the earliest
Trigger Event, whereupon such rights, warrants and options shall be deemed to have been distributed
and an appropriate adjustment (if any is required) to the Conversion Rate shall be made under this
Section 5.06(b).

     (c) If
the Company distributes to all or substantially all holders of the
Common Stock shares of Capital Stock of the Company, evidences of indebtedness or other non-cash assets,
including securities, rights or warrants, but excluding:

     (i) dividends or distributions referred to in Section 5.06(a);

     (ii) rights, warrants or options referred to in Section 5.06(b);

     (iii) rights issued pursuant to the Company’s preferred stock rights plan or any
successor plan thereto, or the detachment of such rights under the terms of any such plan;

     (iv) dividends or distributions referred to in Section 5.06(d); and

     (v) Spin-Offs to which the provisions of this Section 5.06(c) apply,

     then the Conversion Rate shall be adjusted based on the following formula:

	 	 	 
	 
	CR1 = CR0 x  	SP0
SP0 – FMV

38

 

   where

	 	 	 	 	 	 	 
	 

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

	 	CR1
	 	=
	 	the Conversion Rate in effect immediately after the Opening of Business
on Ex Date for such distribution;
	 
	 	 	 	 	 	 
	 

	 	SP0
	 	=
	 	the average of the Closing Sale Prices of the Common Stock over the 10
consecutive Trading Day period ending on the Trading Day immediately preceding the Ex
Date for such distribution; and
	 
	 	 	 	 	 	 
	 

	 	FMV
	 	=
	 	the Fair Market Value (as
determined by the Board of Directors of the Company) of the
shares of Capital Stock, evidences of indebtedness, assets, or property distributed
with respect to each outstanding share of Common Stock on the Ex Date for such
distribution.

     If the Board of Directors of the Company determines the Fair Market Value of any distribution for purposes of
this Section 5.06(c) by reference to the actual or when issued trading market for any securities,
it must in doing so consider the prices in such market over the same period used in computing the
average of the Closing Sale Prices of the Common Stock.

     With respect to an adjustment pursuant to this Section 5.06(c) where there has been a payment
of a dividend or other distribution on the Common Stock or shares of Capital Stock of any class or
series, or similar equity interest, of or
relating to a Subsidiary or other business unit (a “Spin-Off”), the Conversion Rate in effect
immediately before the Close of Business, New York City time, on the effective date of such
Spin-Off shall be increased based on the following formula:

	 	 	 
	 
	CR1 = CR0 x  	FMV0 + MP0
MP0

   where

	 	 	 	 	 	 	 
	 

	 	CR0
	 	=
	 	the Conversion Rate in effect immediately prior to the end of the
Valuation Period (as defined below);
	 
	 	 	 	 	 	 
	 

	 	CR1
	 	=
	 	the Conversion Rate in effect immediately after the end of the Valuation
Period;
	 
	 	 	 	 	 	 
	 

	 	FMV0
	 	=
	 	the average of the Closing Sale Prices of the Capital Stock or similar
equity interest distributed to holders of Common Stock over the first 10 consecutive
Trading Days after, and including, the effective date of the Spin-Off (the “Valuation
Period”); and

39

 

	 	 	 	 	 	 	 
	 

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

     The adjustment to the Conversion Rate under the preceding paragraph will occur on the last day
of the Valuation Period; provided, that in respect of any conversion during the Valuation Period,
references within this Section 5.06(c) to 10 Trading Days shall be deemed replaced with such lesser
number of Trading Days as have elapsed between the effective date of such spin-off and the
Conversion Date in determining the applicable adjustment to the Conversion Rate.

     If any dividend or distribution described in this Section 5.06(c) is not so paid or made, the
Conversion Rate shall again be adjusted to the Conversion Rate that would then be in effect if such
dividend or distribution had not been declared.

     (d) If the Company pays any dividend or makes any distribution (other than in connection with
a liquidation, dissolution or winding up of the Company) consisting exclusively of cash to all or
substantially all holders of the Common Stock, the Conversion Rate will be adjusted based on the
following formula:

	 	 	 
	 
	CR1 = CR0 x  	SP0
SP0 – C

   where

	 	 	 	 	 	 	 
	 

	 	CR0
	 	=
	 	the Conversion Rate in effect immediately prior to the Ex Date for such
dividend or distribution;
	 
	 	 	 	 	 	 
	 

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

	 	SP0
	 	=
	 	the Closing Sale Price of a share of Common Stock on the Trading Day
immediately preceding the Ex Date for such dividend or distribution; and
	 
	 	 	 	 	 	 
	 

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

     The adjustment to the Conversion Rate described in this Section 5.06(d) will become effective
immediately after the Opening of Business on the Ex Date for such dividend or distribution. If
such dividend or distribution is not so paid or made, the Conversion Rate shall again be adjusted
to be the Conversion Rate that would then be in effect if such dividend or distribution had not
been declared.

     (e) If
the Company or any of its Subsidiaries purchases shares of Common Stock pursuant to a tender offer
or exchange offer made at a price per share in excess of the Closing Sale Price for one share of
Common Stock on the Trading Day next succeeding the last date on which tenders or exchanges may be
made

40

 

pursuant to such tender or exchange offer, the Conversion Rate will be increased based on the
following formula:

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

   where

	 	 	 	 	 	 	 
	 

	 	CR0
	 	=
	 	the Conversion Rate in effect immediately prior to the effective date of
the adjustment;
	 
	 	 	 	 	 	 
	 

	 	CR1
	 	=
	 	the Conversion Rate in effect immediately after the effective date of the
adjustment;
	 
	 	 	 	 	 	 
	 

	 	AC
	 	=
	 	the aggregate value of all cash and any other consideration (as
determined by the Board of Directors of the Company) 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
date such tender or exchange offer expires;
	 
	 	 	 	 	 	 
	 

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

	 	SP1
	 	=
	 	the average of the Closing Sale Prices of Common Stock over the 10
consecutive Trading Day period commencing on the Trading Day next succeeding the date
such tender or exchange offer expires.

The adjustment to the Conversion Rate under this Section 5.06(e) shall occur at the Close of
Business on the 10th Trading Day from, and including the Trading Day next succeeding the date such
tender or exchange offer expires; provided, that in respect of any conversion within 10 Trading
Days immediately following, and including, the expiration date of any tender or exchange offer,
references within this Section 5.06(e) to 10 Trading Days shall be deemed replaced with such lesser
number of Trading Days as have elapsed between the expiration date of such tender or exchange offer
and the Conversion Date in determining the applicable adjustment to the Conversion Rate.

     (f) Except as set forth in Sections 5.06(a), 5.06(b), 5.06(c), 5.06(d) or 5.06(e), no
adjustment to the Conversion Rate shall be made for the issuance of shares of Common Stock or any
securities convertible into or exchangeable for shares of Common Stock or the right to purchase
shares of Common Stock or such convertible or exchangeable securities. If, however, application of
the formulas provided in Sections 5.06(a), 5.06(b), 5.06(c), 5.06(d) or 5.06(e) would

41

 

result in a
decrease in the Conversion Rate, no adjustment to the Conversion Rate shall be made except in the
case of a subdivision, split or combination of the Common Stock.

     (g) To the extent permitted by applicable law and subject to Section 5.08 below, the Company
from time to time may increase the Conversion Rate by any amount for any period of time for a
period of at least 20 days if the Board of Directors of the
Company determines that such increase would be in the
best interest of the Company.

     (h) For purposes of this Section 5.06, the number of shares of Common Stock at any time
outstanding shall not include shares held in the treasury of the Company so long as the Company
does not pay any dividend or make any distribution on shares of Common Stock held in the treasury
of the Company.

     Section 5.07. No Adjustment. (a) No adjustment in the Conversion Rate shall be required
unless the adjustment would result in a change in the Conversion Rate of at least 1.0%; provided,
however, that any adjustment which by reason of this Section 5.07(a) is not required to be made
shall be carried forward and taken into account in determining any
subsequent adjustment or in connection with any conversion of
Securities.
Adjustments to the applicable Conversion Rate under this Article 5 shall be calculated to the
nearest 1/10,000th of a share.

     (b) Except as otherwise provided for in this Article 5, (i) the Company shall not be required
to adjust the Conversion Rate for the issuance of its Common Stock or any securities convertible or
exchangeable for its Common Stock or the right to purchase its Common Stock or such convertible or
exchangeable securities, and (ii) no separate payment or adjustment will be made for dividends or
distribution on any Common Stock issued upon conversion of Securities. By delivering to the Holder
the cash and shares, if any, of Common Stock issuable upon conversion, together with a cash payment
in lieu of fractional shares, if any, the Company will satisfy its obligation with respect to the
conversion of the Securities. Upon conversion of Securities, all accrued but unpaid interest,
including Additional Interest, if any, with respect to the converted Securities will be deemed to
be paid in full rather than cancelled, extinguished or forfeited, unless such conversion occurs
between a Record Date and the Interest Payment Date to which it relates in which case such payment
shall be payable to the Holder of converted Securities as of the Record Date.

     (c) No adjustment to the Conversion Rate shall be made (i) upon the issuances of any shares of
Common Stock pursuant to any existing or future Company plan for reinvestment of dividends or
interest payable on the Company’s Securities or the investment of additional optional amounts
thereunder in shares of Common Stock, (ii) upon the issuance of any shares of Common Stock or
options or rights to purchase shares of Common Stock 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 outstanding as of the date the

42

 

Securities were first issued; (iv) upon a change in the par value of the Common Stock; or (v) for
accrued and unpaid interest (including Additional Interest, if any) .

     Section 5.08. Adjustment for Tax Purposes. The Company shall be entitled to make such
increases in the Conversion Rate, in addition to those required by Section 5.06, as it in its
discretion shall determine to be advisable in order to avoid or diminish any tax to stockholders in
connection with any stock dividends, subdivisions of shares, distributions of rights to purchase
stock or securities or distributions of securities convertible into or exchangeable for stock
hereafter made by the Company to its stockholders.

     Section 5.09. Notice of Adjustment. (a) Whenever the Conversion Rate or conversion privilege
is adjusted, the Company shall promptly mail to Holders a notice of the adjustment in
accordance with Section 13.02, and file with the Trustee an Officer’s Certificate briefly
stating the facts requiring the adjustment and the manner of computing it. Unless and until the
Trustee shall receive an Officer’s Certificate setting forth an adjustment of the Conversion Price,
the Trustee may assume without inquiry that the Conversion Rate has not been adjusted and that the
last Conversion Rate of which it has knowledge remains in effect.

     (b) The Company shall provide the Holders 15 days’ prior notice of any increase in the
Conversion Rate pursuant to Section 5.06(g).

     Section 5.10. Adjustment to Conversion Rate upon Certain Fundamental Changes. (a) If a
Holder elects to convert its Securities in connection with a Fundamental Change described under
clause (1) or (2) of the definition of Fundamental Change in Section 4.01 (each such Fundamental
Change, a “Make-Whole Fundamental Change”), then the Conversion Rate of such Securities shall be
increased by an additional number of shares of Common Stock (the “Additional Shares”) as described
below. A conversion shall be deemed to be in connection with a Make-Whole Fundamental Change if
the Conversion Notice is received by the Conversion Agent during the period that begins on (and
includes) the first public announcement of an event constituting a Make-Whole Fundamental Change
and ends at the Close of Business on the Business Day immediately preceding the related Fundamental
Change Repurchase Date.

     (b) The number of Additional Shares shall be determined by reference to the table attached as
Schedule A hereto, which Schedule is incorporated in and made part of this Indenture, based
on the date on which the Make-Whole Fundamental Change becomes effective (the “Make-Whole Effective
Date”) and the price (the “Stock Price”) paid, or deemed to be paid, per share of Common Stock in
such transaction or series of related transactions constituting the Fundamental Change, subject to
adjustment as described in Section 5.10(c). If the holders of Common Stock receive only cash in
such Fundamental Change, the Stock Price shall be the cash amount paid per share. Otherwise, the
Stock Price will be the average of the Closing Sale Prices of Common Stock on the five

43

 

Trading Days
prior to but excluding the Make-Whole Effective Date. The Company shall notify the Holders and the
Trustee of the anticipated Make-Whole Effective Date of a Make-Whole Fundamental Change resulting
in an Adjustment to the Conversion Rate as soon as practicable and if possible at least 10 Trading
Days prior to the Make-Whole Effective Date.

     (c) The Stock Prices set forth in the first row of the table in Schedule A hereto
shall be adjusted in the same manner as and as of any date on which the Conversion Rate of the
Securities is adjusted as described in Section 5.06. The adjusted Stock Prices shall equal the
Stock Prices applicable immediately prior to such adjustment, multiplied by a fraction, the
numerator of which is the Conversion Rate immediately prior to the adjustment and the denominator
of which is the Conversion Rate as so adjusted.

     (d) If the exact Stock Prices and Make-Whole Effective Dates relating to a Make-Whole
Fundamental Change are not set forth in the table in Schedule A, then:

     (i) If the Stock Price is between two Stock Price amounts in the table of the
Make-Whole Effective Date is between two Make-Whole Effective Dates in the table, the
number of Additional Shares will be determined by straight-line interpolation between the
number of Additional Shares set forth for the higher and lower Stock Price amounts and the
two Make-Whole Effective Dates, as applicable, based on a 360-day year.

     (ii) If the Stock Price is greater than $  per share (subject to adjustment in
the same manner as the Conversion Rate as set forth in Section 5.06), no Additional
Shares will be issued upon conversion.

     (iii) If the Stock Price is less than $  per share (subject to adjustment in
the same manner as the Conversion Rate as set forth in Section 5.06), no Additional
Shares will be issued upon conversion.

     (e) Notwithstanding
the foregoing, in no event will the total number of Additional Shares
issuable upon conversion
exceed            per $1,000 principal amount of Securities (subject to adjustment in the same manner
as set forth in Section 5.06).

     (f) If the Company is required to increase the Conversion Rate by the Additional Shares as a
result of a Make-Whole Fundamental Change pursuant to this Section 5.10, Securities surrendered for
conversion will be settled as follows (subject in all respects to the provisions set forth in
Section 5.03):

     (i) If the last day of the applicable Conversion Reference Period related to
Securities surrendered for conversion is prior to the third Scheduled Trading Day
preceding the anticipated Make-Whole Effective Date, the Company will settle such
conversion as described in Section 5.03 by delivering the amount of consideration due (as
described in Section 5.03, based on the Conversion Rate without regard to the number

44

 

of
Additional Shares to be added to the Conversion Rate as provided in this Section 5.10) on
the third Trading Day immediately following the last day of the applicable Conversion
Reference Period. In addition, as soon as practicable following the Make-Whole Effective
Date, the Company will deliver the increase in such amount of cash, shares of Common Stock
or a combination of cash and shares of Common Stock or Reference Property, if any, as the
case may be, as if the Conversion Rate had been increased by such number of Additional
Shares during the related Conversion Reference Period (and based upon the relevant Daily
Conversion Value during such Conversion Reference Period). The Company shall not increase
the Conversion Rate by the number of Additional Shares, or otherwise deliver any increase
to such amount of cash, shares of Common Stock or Reference Property if the Fundamental
Changes does not become effective; or

     (ii) If the last day of the applicable Conversion Reference Period related to the
Securities surrendered for conversion is on or following the third Scheduled Trading Day
preceding the anticipated effective date of the Make-Whole Fundamental Change, the Company
will settle such conversion as described in Section 5.03 (based on the Conversion Rate as
increased by the Additional Shares as provided in this Section 5.10) on the later to occur
of (i) the Make-Whole Effective Date and (ii) the third Trading Day immediately following
the last day of the applicable Conversion Reference Period.

     (g) For the avoidance of doubt, the increases provided for in this Section 5.10 shall only be
made with respect to the Securities being converted in connection with such Make-Whole Fundamental
Change and shall not be effective as to any Securities not so converted.

     Section 5.11. Notice of Certain Transactions. If not otherwise required in connection with a
Fundamental Change, if:

     (a) the Company takes any action which would require an adjustment in the Conversion Price;

     (b) the Company consolidates or merges with, or transfers all or substantially all of its
property and assets to, another corporation and stockholders of the Company must approve the
transaction; or

     (c) there is a dissolution or liquidation of the Company,
the Company shall mail to Holders and file with the Trustee a notice stating the proposed record or
effective date, as the case may be. The Company shall mail the notice at least ten days before
such date. Failure to mail such notice or any defect therein shall not affect the validity of any
transaction referred to in subsection (a), (b) or (c) of this Section 5.11.

45

 

     Section 5.12. Effect of Reclassification, Consolidation, Merger or Sale on Conversion
Privilege. In the event of: (a) any reclassification of the Company’s Common Stock (other than a
change in par value, or from par value to no par value, or from no par value to par value, or as a
result of a subdivision or combination, or any other change for which an adjustment is provided in
Section 5.06); (b) any consolidation, merger or combination involving the Company other than a
merger in which the Company is the continuing corporation and which does not result in any
reclassification of, or change (other than in par value, or from par value to no par value, or from
no par value to par value, or as a result of a subdivision or combination) in, outstanding shares
of Common Stock; (c) a sale or conveyance of all or substantially all of the property and assets of
the Company, directly or indirectly, to another Person; or (d) a statutory share exchange (any such
event a “Merger Event”), in which holders of Common Stock would be entitled to
receive shares of stock, or other securities, property, assets or cash (or combination
thereof) for their shares of Common Stock, then, at the effective time of any such Merger Event,
the Company, or such successor, purchasing or transferee Person, as the case may be, shall execute
and deliver to the Trustee a supplemental indenture providing that the Holder of each Security then
outstanding shall have the right to convert such Security into a right to the kind and amount of
shares of stock, or other securities, property, assets or cash (or combination thereof) that a
holder of a number of shares of Common Stock equal to the Conversion Rate prior to such Merger
Event would have owned or been entitled to receive (the “Reference Property”) in connection with
such Merger Event. However, at and after the effective time of such Merger event, (x) the amount
otherwise payable in cash upon conversion of the Securities pursuant to Section 5.03 will continue
to be payable in cash, (y) the number of shares of Common Stock otherwise deliverable upon the
conversion of the Securities pursuant to Section 5.03 will instead be deliverable in the amount and
type of Reference Property that a holder of that number of shares of Common Stock would have
received in such Merger Event and (z) the Daily VWAP will be calculated based on the value of a
unit of Reference Property that a holder of one share of Common Stock would have received in such
Merger Event. If the Merger Event causes the Common Stock to be converted into the right to
receive more than a single type of consideration (determined based in part upon any form of
stockholder election), the Reference Property into which the Securities will be convertible will be
deemed to be the weighted average of the types and amounts of consideration received by the holders
of Common Stock that affirmatively make such election. The provisions of this Section 5.12 shall
similarly apply to successive Merger Events.

     If the Company shall execute a supplemental indenture pursuant to this Section 5.12, the
Company shall promptly file with the Trustee (x) an Officer’s Certificate briefly stating the
reasons therefor, the kind or amount of shares of stock or other securities or property (including
cash) receivable by Holders of the Securities upon the conversion of their Securities after any
such Merger Event, any adjustment to be made with respect thereto and that all conditions precedent
have been satisfied and (y) an Opinion of Counsel that all conditions precedent have been
satisfied, and shall promptly mail notice thereof to all Holders.

46

 

     Section 5.13. Trustee’s Disclaimer. The Trustee shall have no duty to determine when an
adjustment under this Article 5 should be made, how it should be made or what such adjustment
should be, but may accept as conclusive evidence of that fact or the correctness of any such
adjustment, and shall be protected in relying upon, an Officer’s Certificate, including the
Officer’s Certificate with respect thereto which the Company is obligated to file with the Trustee
pursuant to Section 5.09. The Trustee makes no representation as to the validity or value of any
securities or assets issued upon conversion of Securities, and the Trustee shall not be responsible
for the Company’s failure to comply with any provisions of this Article 5.

     The Trustee shall not be under any responsibility to determine the correctness of any
provisions contained in any supplemental indenture executed pursuant to Section 5.12, but may
accept as conclusive evidence of the correctness thereof, and shall be fully protected in relying
upon, the Officer’s Certificate with respect thereto which the Company is obligated to file with
the Trustee pursuant to Section 5.12.

     Section 5.14. Stockholder Rights Plan. Each share of Common Stock issued upon conversion of
Securities pursuant to this Article 5 shall be entitled to receive the appropriate number of
rights, if any, and the certificates representing the Common Stock issued upon such conversion
shall bear such legends, if any, in each case as may be provided by the terms of any stockholder
rights plan of the Company that may be in effect at such time. If at the time of conversion,
however, the rights pursuant to an effective stockholder rights plan have separated from the shares
of Common Stock in accordance with the provisions of the applicable stockholder rights agreement so
that the Holders of the Securities would not be entitled to receive any rights in respect of Common
Stock issuable upon conversion of the Securities, in which case, and only in such case, the
Conversion Rate will be adjusted at the time of separation as if the Company issued rights,
warrants or options to all or substantially all holders of Common Stock as provided in Section
5.06(b), subject to readjustment in the event of the expiration, termination or redemption of such
rights.

     Section 5.15. Exchange in Lieu of Conversion.

     (a) If at any time when a Holder surrenders Securities for conversion prior to the Maturity
Date of the Securities the Company:

     (i)
has designated a financial institution, which shall be a direct or
indirect DTC participant, (a “Designated
Institution”), to accept
such Securities in exchange for cash and shares of Common Stock, if any, equal to the
consideration due upon conversion as provided in Section 5.03; and

     (ii) notifies the Holder surrendering such Securities for conversion by the second
Trading Day after the applicable Conversion Date, that it has directed the Designated
Institution to make an exchange in lieu of conversion,

47

 

then, notwithstanding anything in this Indenture to the contrary, the Company may direct the
Conversion Agent to surrender such Securities, on or prior to the commencement of the applicable
Conversion Reference Period, to the Designated Institution for exchange in lieu of conversion.

     (b) If the Designated Institution accepts Securities surrendered for exchange, it shall
deliver cash and shares of Common Stock, if any, to the Conversion Agent and the Conversion Agent
will deliver such cash and shares of Common Stock, if any, to such Holder on the third Business Day
immediately following the last day of the applicable Conversion Reference Period. Any
Securities so exchanged by such Designated Institution shall remain outstanding for all
purposes under this Indenture.

     (c) If the Designated Institution agrees to accept any Securities for exchange but does not
timely deliver the related consideration to the Conversion Agent, or if the Designated Institution
does not accept such Securities for exchange, the Company shall, within the time period specified
in Section 5.02(c), convert such Securities into cash and shares of Common Stock, if any, in
accordance with the provisions of Section 5.02 and Section 5.03.

     For the avoidance of doubt, in no event will the Company’s designation of a financial
institution pursuant to this Section 5.15 require such financial institution to accept any
Securities for exchange.

     Section 5.16. Company Determination Final. Any determination that the Company or its Board
of Directors must make pursuant to this Article 5 shall be conclusive if made in good faith and in
accordance with the provisions of this Article 5, absent manifest error, and set forth in a Board
Resolution.

ARTICLE 6

Covenants

     Section 6.01. Payment of Securities. The Company shall promptly make all payments in respect
of the Securities on the dates and in the manner provided in the Securities and this Indenture,
including payments of cash and if applicable, shares of Common Stock upon conversion. Principal
amount and accrued and unpaid interest (including Additional Interest, if any) shall be considered
paid on the date it is due if the Paying Agent holds by 10:00 a.m., New York City time, on such
date, in accordance with this Indenture, cash or securities designated and sufficient for the
payment of all such amounts then due.

     Payment of the principal of the Securities shall be made at the Corporate Trust Office of the
Trustee in such coin or currency of the United States of America as at the time of payment is legal
tender for payment of public and private debts. Payment of accrued and unpaid interest, including
Additional Interest, if any, on Certificated Securities shall be made by check mailed to the
address of the Holder entitled thereto as such address appears in the Register; provided, however,
that Holders with Securities in an aggregate principal amount

48

 

in excess of $2.0 million shall be
paid, at their written election, by wire transfer of immediately available funds. Notwithstanding
the foregoing, so long as the Securities are registered in the name of a Depositary or its nominee,
all payments with respect to the Securities shall be made by wire transfer of immediately available
funds to the account of the Depositary or its nominee.

     Section 6.02. Reports and Certain Information. The Company shall file with the Trustee, within 30 days after it is required to file them
with the SEC pursuant to Section 13 or 15(d) of the Exchange Act, copies of its annual report and
the information, documents and other reports which the Company is required to file with the SEC
pursuant to Section 13 or 15(d) of the Exchange Act; provided, however, that any such reports,
information or documents filed with the SEC pursuant to its Electronic Date Gathering, Analysis and
Retrieval (or EDGAR) system shall be deemed filed with the Trustee. Notwithstanding anything to
the contrary herein, the Trustee shall have no duty to review such documents for purposes of
determining compliance with any provisions of this Indenture or any applicable law.

     Section 6.03. Compliance Certificates. The Company will deliver to the Trustee, within 120
days after the end of each fiscal year of the Company ending after the date hereof, an Officer’s
Certificate signed by the principal executive officer, principal financial officer or principal
accounting officer, as to his or her knowledge (i) of the Company’s compliance with all conditions
and covenants under the Indenture (without regard to any period of grace or requirement of notice
provided hereunder) and, (ii) if the Company shall be in default, specifying all such defaults and
the nature and status thereof of which they may have knowledge.

     Section 6.04. Maintenance of Corporate Existence. Subject to Article 7, the Company shall do
or cause to be done all things necessary to preserve and keep in full force and effect its
corporate existence.

     Section 6.05. Stay, Extension and Usury Laws. The Company covenants, to the extent it may
lawfully do so, that it shall not at any time insist upon, plead, or in any manner whatsoever claim
or take the benefit or advantage of, any stay, extension or usury law or other law which would
prohibit or forgive the Company from paying all or any portion of the principal amount or
Fundamental Change Repurchase Price in respect of Securities or any interest (including Additional
Interest, if any) on the Securities as contemplated herein, wherever enacted, now or at any time
hereafter in force, or which may affect the covenants or the performance of this Indenture, and the
Company, to the extent it may lawfully do so, hereby expressly waives all benefit or advantage of
any such law and covenants that it shall not, by resort to any such law, hinder, delay or impede
the execution of any power herein granted to the Trustee or any Agent, but shall suffer and permit
the execution of every such power as though no such law had been enacted.

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     Section 6.06. Maintenance of Office or Agency of the Trustee, Registrar, Paying Agent and
Conversion Agent. The Company shall maintain an office or agency of the Trustee, Registrar, Paying
Agent and Conversion Agent where Securities may be presented or surrendered for payment, where
Securities may be surrendered for
registration of transfer, exchange, purchase or conversion and where notices and demands to or
upon the Company in respect of the Securities and this Indenture may be served. The Company hereby
designates the Corporate Trust Office as one such office or agency for all of the aforesaid
purposes. The Company shall give prompt written notice to the Trustee of the location, and of any
change in the location, of any such office or agency (other than a change in the location of the
office of the Trustee). If at any time the Company shall fail to maintain any such required office
or agency or shall fail to furnish the Trustee with the address thereof, such presentations,
surrenders, notices and demands may be made or served at the address of the Trustee set forth in
Section 13.02.

ARTICLE 7

Consolidation, Merger, Conveyance, Transfer or Lease

     Section 7.01. Company May Consolidate, Etc., Only on Certain Terms. The Company shall not,
in a single transaction or a series of related transactions, consolidate with or merge into any
other Person or sell, convey, transfer or lease all or substantially all of its properties and
assets to any successor Person, unless:

     (a) the Company is the surviving Person, or the resulting, surviving or transferee Person is
organized and validly existing under the laws of the United States of America, any State thereof or
the District of Columbia and shall expressly assume, by an indenture supplemental hereto, executed
and delivered to the Trustee all of the obligations of the Company under the Securities and this
Indenture;

     (b) immediately after giving effect to such transaction, no Default or Event of Default shall
have occurred and be continuing; and

     (c) the Company has delivered to the Trustee an Officer’s Certificate and an Opinion of
Counsel, each stating that such consolidation, merger, conveyance, transfer or lease and, if a
supplemental indenture is required in connection with such transaction, such supplemental indenture
comply with this Article 7 and that all conditions precedent herein provided for relating to such
transaction have been complied with.

     Section 7.02. Successor Substituted. Upon any consolidation of the Company with, or merger
of the Company into, any other Person or any conveyance, transfer or lease of all or substantially
all of the properties and assets of the Company in accordance with Section 7.01, the successor
Person formed by such consolidation or into which the Company is merged or to which such
conveyance, transfer or lease is made shall succeed to, and be substituted for, and may exercise
every right and power of, the Company under this Indenture with the same effect as if such
successor Person had been named as the Company

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herein, and thereafter, except in the case of a
lease, the predecessor Person shall be relieved of all obligations and covenants under this
Indenture and the Securities.

ARTICLE 8

Default and Remedies

     Section 8.01. Events of Default. An “Event of Default” shall occur if:

     (a) the Company defaults in the payment of any principal of any of the Securities when the
same becomes due and payable (whether at the Maturity Date or Redemption Date, upon a Fundamental
Change Repurchase Date or otherwise);

     (b) the Company defaults in the payment of any interest (including Additional Interest, if
any) on any of the Securities, when due and payable under the Securities, and such default
continues for a period of 30 days;

     (c) the Company fails to deliver cash or cash and shares of Common Stock, if any (including
any Additional Shares payable as a result of a conversion in connection with a Make-Whole
Fundamental Change), when required to be delivered upon the Conversion of any Security;

     (d) the
Company fails to provide a Fundamental Change Company Notice when required by clause
(y) of Section 4.02(b);

     (e) the Company fails to comply with any of its other agreements contained in the Securities
or in this Indenture (other than those referred to in clauses (a) through (d) above) for 60 days
after receipt by the Company of a Notice of Default;

     (f) the Company fails to pay when due the principal of, or acceleration of, any indebtedness
for money borrowed by the Company or any of its Subsidiaries in excess of $30,000,000 principal
amount, if such indebtedness is not discharged, or such acceleration is not annulled, by the end of
a period of 10 days after receipt by the Company of a Notice of Default;

     (g) the Company or any of its Material Subsidiaries pursuant to or within the meaning of any
Bankruptcy Law:

     (i) commences a voluntary case or proceeding;

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

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

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

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

     (i) is for relief against the Company or any of its Material Subsidiaries in an
involuntary case or proceeding;

     (ii) appoints a Custodian of the Company or any of its Material Subsidiaries for all
or substantially all of the property of the Company; or

     (iii) orders the winding up or liquidation of the Company or any of its Material
Subsidiaries;

and in each case of this clause (h) the order or decree remains unstayed and in effect for 60
consecutive days.

     The Trustee shall not be charged with knowledge of any Event of Default unless written notice
thereof shall have been given to a Trust Officer at the Corporate Trust Office of the Trustee by
the Company, a Paying Agent or any Holder.

     Section 8.02. Acceleration. If an Event of Default (other than an Event of Default specified
in clause (g) or (h) of Section 8.01 involving the Company) occurs and is continuing, the Trustee
may, by notice to the Company, or the Holders of at least 25% in aggregate principal amount of the
Securities then outstanding may, by notice to the Company and the Trustee, declare all unpaid
principal of plus accrued and unpaid interest (including Additional Interest, if any), if any, on
all the Securities then outstanding to be due and payable upon any such declaration, and the same
shall become and be immediately due and payable.

     If an Event of Default specified in clause (g) or (h) of Section 8.01 occurs with respect to
the Company, all unpaid principal of plus accrued and unpaid interest (including Additional
Interest, if any), if any, on all the Securities then outstanding shall ipso facto become and be
immediately due and payable without any declaration or other act on the part of the Trustee or any
Holder.

     The Holders of a majority in aggregate principal amount of the Securities then outstanding by
notice to the Trustee may rescind and annul an acceleration of Securities and its consequences
before a judgment or decree for the payment of money has been obtained by the Trustee if (a) all
existing Events of Default, other than the nonpayment of the principal of plus accrued and unpaid
interest (including Additional Interest, if any), if any, on the Securities that has become due
solely by such declaration of acceleration, have been cured or waived and (b) all payments due to
the Trustee and any predecessor Trustee under Section 9.06 have been made. No such rescission
shall affect any subsequent Default or impair any right consequent thereto.

     Section 8.03. Other Remedies. If an Event of Default occurs and is continuing, the Trustee
may, but shall not be obligated to, pursue any available remedy by proceeding at law or in
equity to collect the payment of the principal

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of or accrued and unpaid interest (including
Additional Interest, if any) on the Securities or to enforce the performance of any provision of
the Securities or this Indenture.

     The Trustee may maintain a proceeding even if it does not possess any of the Securities or
does not produce any of them in the proceeding. A delay or omission by the Trustee or any Holder
in exercising any right or remedy accruing upon an Event of Default shall not impair the right or
remedy or constitute a waiver of or acquiescence in the Event of Default. No remedy is exclusive
of any other remedy. All available remedies are cumulative to the extent permitted by law.

     Section 8.04. Sole Remedy for Failure to Report. Notwithstanding anything to the contrary in
this Indenture, to the extent elected by the Company, the sole remedy for an Event of Default
relating to the Company’s failure to comply with the covenant set forth in Section 6.02 hereof, for
the failure to file any documents or reports that the Company is required to file with the SEC
pursuant to Section 13 or 15(d) of the Exchange Act, after taking into account any grace period
afforded by Rule 12b-25 of the Exchange Act, or for any failure to comply with the requirements of
Section 314(a)(1) of the TIA (any such obligation, the “Reporting Obligations”), shall (i) for the
first 120 days after the occurrence of such an Event of Default consist exclusively of the right to
receive additional interest on the Securities at an annual rate amount equal to 0.25% of the
principal amount of the Securities and (ii) for the next 90 days after the expiration of such 120
day period consist exclusively of the right to receive additional interest on the Securities at an
annual rate equal to 0.50% of the principal amount of Securities (such amounts under each of clause
(i) and (ii), “Additional Interest”). If the Company so elects, such Additional Interest will be
payable on all outstanding Securities from and including the date on which the Event of Default
first occurs to but excluding the 210th day thereafter (or such earlier date on which
such Event of Default has been cured or waived). On the 210th day after such Event of
Default (or such earlier date on which such Event of Default has been cured or waived), Additional
Interest will cease to accrue and, if the Event of Default relating to failure to comply with
Reporting Obligations has not been cured or waived ), the Securities will be subject to
acceleration as provided above. The provisions set forth in this paragraph will not affect the
rights of Holders of Securities in the event of the occurrence of any other Event of Default. To
the extent that the Company elects to pay Additional Interest, it shall be payable at the same time
and in the same manner as ordinary interest. If the Company does not elect to pay the Additional
Interest in accordance with this paragraph, the Securities will be subject to acceleration as
provided in Section 8.02. In order to elect to pay the Additional Interest as the sole remedy in
respect of the first 210 days after the occurrence of an Event of Default relating to failure to
comply with the Reporting Obligations, the Company must (i) notify the Trustee and the Paying Agent
in writing of such election and (ii) pay all such Additional Interest as described above, in the
case of the first extension period, on or before the Close of Business on the date on which such
Event of Default first occurs and, in the case of the second extension period, on or before the
120th day

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after such Event of Default first occurs. Upon the Company’s failure to timely give such
notice or pay the Additional Interest, the Securities will be subject to acceleration as provided
above.

     Section 8.05. Waiver of Defaults and Events of Default. Subject to Section 8.08 and 10.02,
the Holders of a majority in aggregate principal amount of the Securities then outstanding by
notice to the Trustee may waive an existing Default or Event of Default and its consequence, except
a Default or Event of Default in the payment of the principal amount of, accrued and unpaid
interest (including Additional Interest, if any) on any Security, the payment of any applicable
Redemption Price, the payment of any applicable Fundamental Change Repurchase Price, or a failure
by the Company to deliver cash and, if applicable, shares of Common Stock upon conversion in
accordance with Article 5 or any Default or Event of Default in respect of any provision of this
Indenture or the Securities that, under Section 10.02, cannot be modified or amended without the
consent of the Holder of each Security affected. When a Default or Event of Default is waived, it
is deemed cured, but no such waiver shall extend to any subsequent or other Default or impair any
consequent right. This Section 8.05 shall be in lieu of Section 316(a)1(B) of the TIA and such
Section 316(a)1(B) is hereby expressly excluded from this Indenture, as permitted by the TIA.

     Section 8.06. Control by Majority. The Holders of a majority in aggregate principal amount
of the Securities then outstanding may direct the time, method and place of conducting any
proceeding for any remedy available to the Trustee or exercising any trust or power conferred on it
with respect to the Securities. However, the Trustee may refuse to follow any direction that
conflicts with law or this Indenture, that the Trustee determines may be unduly prejudicial to the
rights of another Holder or the Trustee, or that may involve the Trustee in personal liability
unless the Trustee is offered indemnity or security reasonably satisfactory to Trustee against any
loss, liability or expense to the Trustee to institute such proceeding as Trustee ; provided that
the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with
such direction. This Section 8.06 shall be in lieu of Section 316(a)1(A) of the TIA and such
Section 316(a)1(A) is hereby expressly excluded from this Indenture, as permitted by the TIA.

     Section 8.07. Limitations on Suits. A Holder of a Security may not pursue any remedy with
respect to this Indenture or the Securities unless:

     (a) the Holder gives to the Trustee written notice of a continuing Event of Default;

     (b) the Holders of at least 25% in aggregate principal amount of the then outstanding
Securities make a written request to the Trustee to pursue the remedy;

     (c) such Holder or Holders offer to the Trustee reasonable indemnity to the Trustee against
any loss, liability or expense;

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     (d) the Trustee does not comply with the request within 60 days after receipt of the request
and the offer of indemnity; and

     (e) no direction inconsistent with such written request has been given to the Trustee during
such 60-day period by the Holders of a majority in aggregate principal amount of the Securities
then outstanding.

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

     Section 8.08. Rights of Holders to Receive Payment and to Convert. Notwithstanding any other
provision of this Indenture, the right of any Holder of a Security to receive payment of the
principal amount of, interest (including Additional Interest, if any) on and Fundamental Change
Repurchase Price with respect to any Security, on or after the respective due dates expressed in
the Security and this Indenture, to convert such Security in accordance with Article 5 and to bring
suit for the enforcement of any such payment on or after such respective dates or the right to
convert, is absolute and unconditional and shall not be impaired or affected without the consent of
the Holder.

     Section 8.09. Collection Suit by Trustee. If an Event of Default in the payment of principal
or interest (including Additional Interest, if any) specified in clause (a) or (b) of Section 8.01
occurs and is continuing, the Trustee may recover judgment in its own name and as trustee of an
express trust against the Company or another obligor on the Securities for the whole amount owing
with respect to the Securities and the amounts provided for in Section 9.06.

     Section 8.10. Trustee May File Proofs of Claim. The Trustee may file such proofs of claim
and other papers or documents as may be necessary or advisable in order to have the claims of the
Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances
of the Trustee, its agents and counsel) and the Holders allowed in any judicial proceedings
relative to the Company (or any other obligor on the Securities), its creditors or its property and
shall be entitled and empowered to collect and receive any money or other property payable or
deliverable on any such claims and to distribute the same, and any Custodian in any such judicial
proceeding is hereby authorized by each Holder to make such payments to the Trustee and, if the
Trustee shall consent to the making of such
payments directly to the Holders, to pay to the Trustee any amount due to it for the
reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and
counsel, and any other amounts due the Trustee under Section 9.06, and to the extent that such
payment of the reasonable compensation, expenses, disbursements and advances in any such
proceedings shall be denied for any reason, payment of the same shall be secured by a lien on, and
shall be paid out of, any and all distributions, dividends, money, securities and other property
which the Holders may be entitled to receive in such proceedings, whether in liquidation or under
any plan of reorganization or arrangement or otherwise. Nothing herein contained shall be deemed
to authorize the Trustee to authorize or consent to, or, on behalf of any Holder, to authorize,

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accept or adopt any plan of reorganization, arrangement, adjustment or composition affecting the
Securities or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of
the claim of any Holder in any such proceeding.

     Section 8.11. Priorities. If the Trustee collects any money pursuant to this Article 8, it
shall pay out the money in the following order:

     First, to the Trustee for amounts due under Section 9.06;

     Second, to Holders for amounts due and unpaid on the Securities for the
principal amount, accrued interest (including Additional Interest, if
any), Redemption Price or Fundamental
Change Repurchase Price, as the case may be, ratably, without preference or priority of
any kind, according to such amounts due and payable on the Securities; and

     Third, the balance, if any, to the Company.

     The Trustee may fix a record date and payment date for any payment to Holders pursuant to this
Section 8.11. At least 15 days before such record date, the Trustee shall mail to each Holder and
the Company a notice that states the record date, the payment date and the amount to be paid.

     Section 8.12. 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 8.12 does not apply to a suit made by the Trustee, a suit by a Holder
pursuant to Section 8.08, or a suit by Holders of more than 10% in aggregate principal amount of
the Securities then outstanding. This Section 8.12 shall be in lieu of Section 315(e) of the TIA
and such Section 315(e) is hereby expressly excluded from this Indenture, as permitted by the TIA.

     Section 8.13. Notice of Defaults. If an Event of Default occurs and is continuing with
respect to the Securities and if it is actually known to a Trust Officer of the Trustee, the
Trustee shall mail to each Holder of such Securities notice of the Event of Default within 90 days
after it occurs. The Trustee may withhold notice to the Holders of the Securities of any Event of
Default, except defaults in payment of principal amount or interest, including Additional Interest,
if any, on the Securities, if and so long as a committee of the Trust Officers of the Trustee in
good faith determines that the withholding of such notice is in the interest of the Holders of the
Securities.

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ARTICLE 9

Trustee

     Section 9.01. Certain Duties and Responsibilities of Trustee. (a) The Trustee, prior to the
occurrence of an Event of Default with respect to the Securities and after the curing of all Events
of Default with respect to the Securities that may have occurred, shall undertake to perform with
respect to the Securities such duties and only such duties as are specifically set forth in this
Indenture, and no implied covenants shall be read into this Indenture against the Trustee. In case
an Event of Default with respect to the Securities has occurred (that has not been cured or
waived), the Trustee shall exercise with respect to Securities such of the rights and powers vested
in it by this Indenture, and use the same degree of care and skill in their exercise, as a prudent
person would exercise or use under the circumstances in the conduct of his or her own affairs.

     (b) No provision of this Indenture shall be construed to relieve the Trustee from liability
for its own negligent action, its own negligent failure to act, or its own willful misconduct,
except that:

     (i) prior to the occurrence of an Event of Default with respect to the Securities and
after the curing or waiving of all such Events of Default that may have occurred:

     (A) the duties and obligations of the Trustee shall with respect to the
Securities be determined solely by the express provisions of this Indenture, and
the Trustee shall not be liable with respect to the Securities except for the
performance of such duties and obligations as are specifically set forth in this
Indenture, and no implied covenants or obligations shall be read into this
Indenture against the Trustee; and

     (B) in the absence of bad faith on the part of the Trustee, the Trustee may
with respect to the Securities conclusively rely, as to the truth of the
statements and the
correctness of the opinions expressed therein, upon any certificates or
opinions furnished to the Trustee and conforming to the requirements of this
Indenture; but in the case of any such certificates or opinions that by any
provision hereof are specifically required to be furnished to the Trustee, the
Trustee shall be under a duty to examine the same to determine whether or not
they conform to the requirement of this Indenture;

     (ii) the Trustee shall not be liable for any error of judgment made in good faith by
a Trust Officer or Trust Officers of the Trustee, unless it shall be proved that the
Trustee, was negligent in ascertaining the pertinent facts;

     (iii) the Trustee shall not be liable with respect to any action taken or omitted to
be taken by it in good faith in accordance with the

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direction of the Holders of not less
than a majority in principal amount of the Securities at the time outstanding (determined
as provided in Section 2.10) relating to the time, method and place of conducting any
proceeding for any remedy available to the Trustee, or exercising any trust or power
conferred upon the Trustee under this Indenture with respect to the Securities; and

     (iv) None of the provisions contained in this Indenture shall require the Trustee to
expend or risk its own funds or otherwise incur personal financial liability in the
performance of any of its duties or in the exercise of any of its rights or powers, if
there is reasonable ground for believing that the repayment of such funds or liability is
not reasonably assured to it under the terms of this Indenture or adequate indemnity
against such risk is not reasonably assured to it.

     Section 9.02. Certain Rights of Trustee. Except as otherwise provided in Section 10.01:

     (a) The Trustee may conclusively rely and shall be protected in acting or refraining from
acting upon any resolution, certificate, statement, instrument, opinion, report, notice, request,
consent, order, approval, bond, security or other paper or document believed by it to be genuine
and to have been signed or presented by the proper party or parties;

     (b) Any request, direction, order or demand of the Company mentioned herein shall be
sufficiently evidenced by a resolution of the Board of Directors of the Company or an instrument
signed in the name of the Company, by one or more Officers thereof (unless other evidence in
respect thereof is specifically prescribed herein);

     (c) The Trustee may consult with counsel and the written advice of such counsel or any Opinion
of Counsel shall be full and complete authorization and
protection in respect of any action taken or suffered or omitted hereunder in good faith and
in reliance thereon;

     (d) The Trustee shall be under no obligation to exercise any of the rights or powers vested in
it by this Indenture at the request, order or direction of any of the Holders, pursuant to the
provisions of this Indenture, unless such Holders shall have offered to the Trustee reasonable
security or indemnity against the costs, expenses and liabilities that may be incurred therein or
thereby; nothing contained herein shall, however, relieve the Trustee of the obligation, upon the
occurrence of an Event of Default with respect to the Securities (that has not been cured or
waived) to exercise with respect to the Securities such of the rights and powers vested in it by
this Indenture, and to use the same degree of care and skill in their exercise, as a prudent man
would exercise or use under the circumstances in the conduct of his own affairs;

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     (e) The Trustee shall not be liable for any action taken or omitted to be taken by it in good
faith and believed by it to be authorized or within the discretion or rights or powers conferred
upon it by this Indenture;

     (f) The Trustee shall not be bound to make any investigation into the facts or matters stated
in any resolution, certificate, statement, instrument, opinion, report, notice, request, consent,
order, approval, bond, security, or other papers or documents, unless requested in writing so to do
by the Holders of not less than a majority in principal amount of the outstanding Securities
affected thereby (determined as provided in Section 2.10); provided, however, that if the payment
within a reasonable time to the Trustee of the costs, expenses or liabilities likely to be incurred
by it in the making of such investigation is, in the opinion of the Trustee, not reasonably assured
to the Trustee by the security afforded to it by the terms of this Indenture, the Trustee may
require reasonable indemnity against such costs, expenses or liabilities as a condition to so
proceeding. The reasonable expense of every such examination shall be paid by the Company or, if
paid by the Trustee, shall be repaid by the Company upon demand;

     (g) The Trustee may execute any of the trusts or powers hereunder or perform any duties
hereunder either directly or by or through agents or attorneys and the Trustee shall not be
responsible for any misconduct or negligence on the part of any agent or attorney appointed with
due care by it hereunder;

     (h) Except with respect to Section 6.01, the Trustee shall have no duty to inquire as to the
performance of the Company with respect to the covenants contained in Article 6. In addition, the
Trustee shall not be deemed to have knowledge of an Event of Default except (i) any Default or
Event of Default occurring pursuant to Section 8.01(a) or 8.01(b) or any Default of Event of
Default of which a Trust Officer of the Trustee shall have received written notification or
obtained actual knowledge; and (ii) delivery of reports, information and documents to the Trustee
under Sections 6.02 and 6.03 for informational purposes only and the Trustee’s receipt of the
foregoing shall not constitute
constructive notice of any information contained therein or determinable from information
contained therein, including the Company’s compliance with any of their covenants hereunder (as to
which the Trustee is entitled to rely exclusively on Officer’s Certificates).

     Section 9.03. Trustee Not Responsible for Recitals or Issuance or Securities.

     (a) The recitals contained herein and in the Securities shall be taken as the statements of
the Company, and the Trustee assumes no responsibility for the correctness of the same.

     (b) The Trustee makes no representations as to the validity or sufficiency of this Indenture
or of the Securities.

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     (c) The Trustee shall not be accountable for the use or application by the Company of any of
the Securities or of the proceeds of such Securities, or for the use or application of any moneys
paid over by the Trustee in accordance with any provision of this Indenture or for the use or
application of any moneys received by any paying agent other than the Trustee.

     Section 9.04. May Hold Securities.

     The Trustee or any Agent, in its individual or any other capacity, may become the owner or
pledgee of Securities with the same rights it would have if it were not Trustee or Agent.

     Section 9.05. Moneys Held in Trust.

     All moneys received by the Trustee shall, until used or applied as herein provided, be held in
trust for the purposes for which they were received, but need not be segregated from other funds
except to the extent required by law. The Trustee shall be under no liability for interest on any
moneys received by it hereunder except such as it may agree with the Company to pay thereon.

     Section 9.06. Compensation and Reimbursement.

     (a) The Company covenants and agrees to pay to the Trustee, and the Trustee shall be entitled
to, such compensation (which shall not be limited by any provision of law in regard to the
compensation of a trustee of an express trust), as the Company, and the Trustee may from time to
time agree in writing, for all services rendered by it in the execution of the trusts hereby
created and in the
exercise and performance of any of the powers and duties hereunder of the Trustee, and, except
as otherwise expressly provided herein, the Company will pay or reimburse the Trustee upon its
request for all reasonable expenses, disbursements and advances incurred or made by the Trustee in
accordance with any of the provisions of this Indenture (including the reasonable compensation and
the expenses and disbursements of its counsel and of all Persons not regularly in its employ)
except any such expense, disbursement or advance as may arise from its negligence or bad faith.
The Company also covenants to indemnify the Trustee (and its officers, agents, directors and
employees) for, and to hold it harmless against, any loss, liability or expense incurred without
negligence or bad faith on the part of the Trustee and arising out of or in connection with the
acceptance or administration of this trust, including the reasonable costs and expenses of
defending itself against any claim of liability in the premises. The Trustee shall notify the
Company promptly of any claim asserted against the Trustee for which it may seek indemnity. The
Company need not pay for any settlement without its written consent, which shall not be
unreasonably withheld.

     (b) The obligations of the Company under this Section 9.06 to compensate and indemnify the
Trustee and to pay or reimburse the Trustee for reasonable expenses, disbursements and advances
shall constitute additional indebtedness hereunder. Such additional indebtedness shall be secured
by a lien prior to that of the Securities upon all property and funds held or collected by the

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Trustee as such, except funds held in trust for the benefit of the Holders of particular
Securities.

     Section 9.07. Reliance on Officer’s Certificate. Except as otherwise provided in Section
10.01, whenever in the administration of the provisions of this Indenture the Trustee shall deem it
necessary or desirable that a matter be proved or established prior to taking or suffering or
omitting to take any action hereunder, such matter (unless other evidence in respect thereof be
herein specifically prescribed) may, in the absence of negligence or bad faith on the part of the
Trustee, be deemed to be conclusively proved and established by an Officer’s Certificate delivered
to the Trustee and such certificate, in the absence of negligence or bad faith on the part of the
Trustee, shall be full warrant to the Trustee for any action taken, suffered or omitted to be taken
by it under the provisions of this Indenture upon the faith thereof.

     Section 9.08. Disqualification; Conflicting Interests. If the Trustee has or shall acquire
any “conflicting interest” within the meaning of Section 310(b) of the TIA, the Trustee and the
Company shall in all respects comply with the provisions of Section 310(b) of the TIA.

     Section 9.09. Corporate Trustee Required; Eligibility. There shall at all times be a Trustee
with respect to the Securities issued hereunder which shall at all times be a corporation organized
and doing business
under the laws of the United States of America or any State or Territory thereof or of the
District of Columbia, or a corporation or other Person permitted to act as trustee by the SEC,
authorized under such laws to exercise corporate trust powers, having a combined capital and
surplus, or being a member of a bank holding company with a combined capital and surplus, of at
least 50 million U.S. dollars ($50,000,000), and subject to supervision or examination by Federal,
State, Territorial, or District of Columbia authority. If such corporation publishes reports of
condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or
examining authority, then for the purposes of this Section 9.09, the combined capital and surplus
of such corporation shall be deemed to be its combined capital and surplus as set forth in its most
recent report of condition so published. The Company may not, nor may any Person directly or
indirectly controlling, controlled by, or under common control with the Company, serve as Trustee.
In case at any time the Trustee shall cease to be eligible in accordance with the provisions of
this Section 9.09, the Trustee shall resign immediately in the manner and with the effect specified
in Section 9.10.

     Section 9.10. Resignation and Removal; Appointment of Successor.

     (a) The Trustee or any successor hereafter appointed, may at any time resign with respect to
the Securities by giving written notice thereof to the Company and by transmitting notice of
resignation by mail, first class postage prepaid, to the Holders, as their names and addresses
appear upon the Register. Upon receiving such notice of resignation, the Company shall promptly
appoint a successor trustee with respect to Securities by or pursuant
to a resolution of its

61

 

Board
of Directors. If no successor trustee shall have been so appointed and have accepted appointment
within 30 days after the mailing of such notice of resignation, the resigning Trustee may petition
any court of competent jurisdiction for the appointment of a successor trustee with respect to
Securities, or any Holder who has been a bona fide Holder of a Security or Securities for at least
six months may on behalf of himself and all others similarly situated, petition any such court for
the appointment of a successor trustee. Such court may thereupon after such notice, if any, as it
may deem proper and prescribe, appoint a successor trustee.

     (b) In case at any time any one of the following shall occur:

     (i) the Trustee shall fail to comply with the provisions of Section 9.08 after
written request therefor by the Company or by any Holder who has been a bona fide Holder
of a Security or Securities for at least six months; or

     (ii) the Trustee shall cease to be eligible in accordance with the provisions of
Section 9.09 and shall fail to resign after written request therefor by the Company or by
any such Holder; or

     (iii) the Trustee shall become incapable of acting, or shall be adjudged a bankrupt
or insolvent, or commence a voluntary bankruptcy proceeding, or a receiver of the Trustee
or of its property shall be appointed or consented to, or any public officer shall take
charge or control of the Trustee or of its property or affairs for the purpose of
rehabilitation, conservation or liquidation, then, in any such case, the Company may
remove the Trustee with respect to the Securities and appoint a successor trustee by or
pursuant to a Resolution of the Board of Directors of the Company, or, unless the
Trustee’s duty to resign is stayed as provided herein, any Holder who has been a bona fide
Holder of a Security or Securities for at least six months may, on behalf of that Holder
and all others similarly situated, petition any court of competent jurisdiction for the
removal of the Trustee and the appointment of a successor trustee. Such court may
thereupon after such notice, if any, as it may deem proper and prescribe, remove the
Trustee and appoint a successor trustee.

     (c) The Holders of a majority in aggregate principal amount of the Securities at the time
outstanding may at any time remove the Trustee by so notifying the Trustee and the Company and may
appoint a successor Trustee with the written consent of the Company.

     (d) Any resignation or removal of the Trustee and appointment of a successor trustee with
respect to the Securities pursuant to any of the provisions of this Section 9.10 shall become
effective upon acceptance of appointment by the successor trustee as provided in Section 9.11.

62

 

     (e) At any time there shall be only one Trustee with respect to the Securities.

     Section 9.11. Acceptance of Appointment by Successor.

     (a) In case of the appointment hereunder of a successor trustee with respect to the
Securities, every such successor trustee so appointed shall execute, acknowledge and deliver to the
Company and to the retiring Trustee an instrument accepting such appointment, and thereupon the
resignation or removal of the retiring Trustee shall become effective and such successor trustee,
without any further act, deed or conveyance, shall become vested with all the rights, powers,
trusts and duties of the retiring Trustee; but, on the request of the Company or the successor
trustee, such retiring Trustee shall, upon payment of its charges, execute and deliver an
instrument transferring to such successor trustee all the rights, powers, and trusts of the
retiring Trustee and shall duly assign, transfer and deliver to such successor trustee all property
and money held by such retiring Trustee hereunder.

     (b) Upon request of any such successor trustee, the Company shall execute any and all
instruments for more fully and certainly vesting in and
confirming to such successor trustee all such rights, powers and trusts referred to in
paragraph (a) of this Section 9.11.

     (c) No successor trustee shall accept its appointment unless at the time of such acceptance
such successor trustee shall be qualified and eligible under this Article 9.

     (d) Upon acceptance of appointment by a successor trustee as provided in this Section 9.11,
the Company shall transmit notice of the succession of such trustee hereunder by mail, first class
postage prepaid, to the Holders, as their names and addresses appear upon the Register. If the
Company fails to transmit such notice within ten days after acceptance of appointment by the
successor trustee, the successor trustee shall cause such notice to be transmitted at the expense
of the Company.

     Section 9.12. Merger, Conversion, Consolidation or Succession to Business. Any corporation
into which the Trustee may be merged or converted or with which it may be consolidated, or any
corporation resulting from any merger, conversion or consolidation to which the Trustee shall be a
party, or any corporation succeeding to all or substantially all of the corporate trust business of
the Trustee (including the administration of the trust created by this Indenture), shall be the
successor of the Trustee hereunder, provided that such corporation shall be qualified under the
provisions of Section 9.08 and eligible under the provisions of Section 9.09, without the execution
or filing of any paper or any further act on the part of any of the parties hereto, anything herein
to the contrary notwithstanding. In case any Securities shall have been authenticated, but not
delivered, by the Trustee then in office, any successor by merger, conversion or consolidation to
such authenticating Trustee may adopt such authentication
and

63

 

deliver the Securities so
authenticated with the same effect as if such successor Trustee had itself authenticated such
Securities.

     Section 9.13. Preferential Collection of Claims against the Company. The Trustee shall
comply with Section 311(a) of the TIA, excluding any creditor relationship described in Section
311(b) of the TIA. A Trustee who has resigned or been removed shall be subject to Section 311(a)
of the TIA to the extent included therein.

     Section 9.14.
Reports By Trustee To Holders. Within 60 days after each
June 15, beginning
with June 15, 2010, the Trustee will mail to each Holder, as provided in TIA Section 313(c), a brief
report dated as of such June 15, if required by TIA Section 313(a), and file such reports with each
stock exchange, if any, upon which the Securities are listed and with the SEC as required by TIA
Section 313(d).

ARTICLE 10

Amendments, Supplements and Waivers

     Section 10.01. Without Consent of Holders. The Company and the Trustee may amend or
supplement this Indenture or the Securities without notice to, or consent of, any Holder to:

     (a) provide for conversion rights of Holders of the Securities and the Company’s repurchase
obligations in connection with a Fundamental Change, in the event of any reclassification of the
Common Stock, merger or consolidation, or sale, conveyance, transfer or lease of the Company’s
properties and assets substantially as an entirety;

     (b) secure the Securities;

     (c) provide for the assumption of the Company’s obligations to Holders of Securities in the
event of a merger or consolidation or sale, conveyance, transfer or lease of all or substantially
all of the Company’s properties and assets;

     (d) surrender any right or power conferred upon the Company;

     (e) add to the Company’s covenants for the benefit of the Holders of the Securities;

     (f) cure any ambiguity or correct or supplement any inconsistent or otherwise defective
provision contained in this Indenture, so long as such modification or amendment does not adversely
affect the interests of the Holders of the Securities in any material respect; provided that any
such modification or amendment made solely to conform the provisions of this Indenture to the
section of the Final Prospectus captioned “Description of the Notes” shall be deemed not to
adversely affect the interests of the Holders;

64

 

     (g) make any provision with respect to matters or questions arising under this Indenture that
the Company may deem necessary or desirable and that shall not be inconsistent with provisions of
this Indenture; provided that such change or modification does not, in the good faith opinion of
the Board of Directors of the Company, adversely affect the interests of the Holders of the Securities in any
material respect; provided, further, that any amendment made solely to conform the provisions of
this Indenture to the section of the Final Prospectus captioned “Description of the Notes” shall be
deemed not to adversely affect the interests of the Holders;

     (h) increase the Conversion Rate;

     (i) comply with the requirements of the SEC in order to effect or maintain the qualifications
of the Indenture under the TIA;

     (j) comply with the rules of any applicable securities depositary, including the Depositary;

     (k) add guarantees of obligations under the Securities; and

     (l) provide for a successor Trustee in accordance with the terms of this Indenture or to
otherwise comply with any requirement of this Indenture.

     Section 10.02. With Consent of Holders. The Company and the Trustee may amend or supplement
the Securities or this Indenture with the consent of the Holders of at least a majority in
aggregate principal amount of the Securities then outstanding. The Holders of at least a majority
in aggregate principal amount of the Securities then outstanding may waive compliance in any
instance by the Company with any provision of the Securities or this Indenture without notice to
any Holder. However, notwithstanding the foregoing but subject to Section 10.04, without the
consent of the Holders of each Security then outstanding, an amendment, supplement or waiver may
not:

     (a) change the Maturity Date of the principal of the Securities;

     (b) reduce the rate or extend the time for payment of interest, including any Additional
Interest, if any on any Securities;

     (c) reduce the principal amount of any Securities;

     (d) reduce any amount payable upon redemption or repurchase of any Securities;

     (e) impair the right of a Holder to institute suit for payment of any Securities;

     (f) change the currency of payment of principal of, Redemption Price, Fundamental Change
Repurchase Price or rate of interest (including Additional Interest, if any), if any, of the
Securities;

65

 

     (g) change the Company’s obligation to repurchase any Securities at the option of the Holder
after the occurrence of a Fundamental Change in a manner adverse to the Holders;

     (h) affect the right of a Holder to convert any Securities into shares of Common Stock or
reduce the number of shares of Common Stock receivable upon conversion pursuant to the terms of
this Indenture; or

     (i) modify any of the provisions of Section 8.02 or this Section 10.02, or reduce the
percentage of the Securities required for consent to any modification of this Indenture that does
not require the consent of each affected Holder.

     It shall not be necessary for the consent of the Holders under this Section 10.02 to approve
the particular form of any proposed amendment, supplement or waiver, but it shall be sufficient if
such consent approves the substance thereof.

     After an amendment, supplement or waiver under this Section 10.02 becomes effective, the
Company shall mail to the Holders affected thereby a notice briefly describing the amendment,
supplement or waiver. Any failure of the Company to mail such notice, or any defect therein, shall
not, however, in any way impair or affect the validity of any such amendment, supplement or waiver.

     Section 10.03. Compliance with TIA. Every amendment to or supplement of this Indenture or
the Securities shall comply with the TIA as in effect at the date of such amendment or supplement.

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

     After an amendment, supplement or waiver becomes effective, it shall bind every applicable
Holder.

     Section 10.05. Notation on or Exchange of Securities. If an amendment, supplement or waiver
changes the terms of a Security, the Trustee may require the Holder of the Security to deliver it
to the Trustee. The Trustee may place an appropriate notation on the Security about the changed
terms and return it to the Holder. Alternatively, if the Company or the Trustee so determines, the
Company in exchange for the Security shall issue and the Trustee shall authenticate a new Security
that reflects the changed terms.

     Section 10.06. Trustee to Sign Amendments, Etc. The Trustee shall sign any amendment or
supplemental indenture authorized pursuant to this Article 10 if the amendment or supplemental
indenture does not adversely affect the rights,

66

 

duties, liabilities or immunities of the Trustee.
If it does, the Trustee may, in its sole discretion, but need not sign it. In signing or refusing
to sign such amendment or supplemental indenture, the Trustee shall be entitled to receive and,
subject to Section 9.01, shall be fully protected in relying upon, an Officer’s Certificate and an
Opinion of Counsel stating that such amendment or supplemental indenture is authorized or permitted
by this Indenture.

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

ARTICLE 11

[Reserved]

ARTICLE 12

Satisfaction and Discharge

     Section 12.01. Satisfaction and Discharge of the Indenture. This Indenture shall cease to be
of further effect (except as to any surviving rights of registration of transfer or exchange of
Securities herein expressly provided for), and the Trustee, on demand of and at the expense of the
Company, shall execute proper instruments acknowledging satisfaction and discharge of this
Indenture, when

     (a) either

     (i) all Securities theretofore authenticated and delivered (other than Securities
that have been destroyed, lost or stolen and which have been replaced or paid as provided
in Section 2.09) have been delivered to the Trustee for cancellation; or

     (ii) all such Securities not theretofore delivered to the Trustee for cancellation
have become due and payable or shall become due and payable within one year, in each case
whether at the Maturity Date or with respect to any Redemption Date or Fundamental Change
Repurchase Date or by delivery of a Conversion Notice or otherwise, and the Company
deposits with the Paying Agent or Conversion Agent, as the case may be, cash or a
combination of cash and Common Stock, as applicable, sufficient to pay all amounts due and
owing on all outstanding Securities (other than Securities replaced pursuant to Section
2.09);

     (b) the Company has paid or caused to be paid all other sums payable hereunder by the Company;
and

     (c) the Company has delivered to the Trustee an Officer’s Certificate and an Opinion of
Counsel, each stating that all conditions precedent herein

67

 

provided for relating to the
satisfaction and discharge of this Indenture have been complied with.

     Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the
Company as to conversion of the Securities under Article 5 of this Indenture and to the Trustee
under Section 9.06 and, if money shall have been deposited with the Trustee pursuant to Section
12.01(a)(ii), the obligations of the Trustee under Section 12.02 shall survive.

     Section 12.02. Repayment to the Company. The Trustee and the Paying Agent shall return to
the Company upon written request any cash or securities held by them for the payment of any amount
with respect to the Securities that remains unclaimed for two years, subject to applicable
unclaimed property law. After return to the Company, Holders entitled to the cash or securities
must look to the Company for payment as general creditors unless an applicable abandoned property
law designates another Person and the Trustee and the Paying Agent shall have no further liability
to the Holders with respect to such cash or securities for that period commencing after the return
thereof.

ARTICLE 13

Miscellaneous

     Section 13.01. TIA Controls. If any provision of this Indenture limits, qualifies or
conflicts with the duties imposed by any of Sections 310 to 317, inclusive, of the TIA through
operation of Section 318(c) thereof, such imposed duties shall control.

     Section 13.02. Notices. Any demand, authorization notice, request, consent or communication
shall be given in writing and delivered in person or mailed by first-class mail, postage prepaid,
addressed as follows or transmitted by facsimile transmission (confirmed by delivery in person or
mail by first-class mail, postage prepaid, or by guaranteed overnight courier) to the following
facsimile numbers:

If to the Company, to:

Rambus Inc.

4440 El Camino Real

Los Altos, CA 94022

Attention: Thomas R. Lavelle

                    General Counsel

Facsimile No.: (650) 947-5001

if to the Trustee, to:

U.S. Bank National Association

633 West Fifth Street, 24th Floor

LM-CA-T24T

68

 

Los Angeles, CA 90071

Attention: Corporate Trust Services

(Rambus Inc.      % Convertible Senior Notes due 2014)

Facsimile No.: (213) 615-6197

     Such notices or communications shall be effective when received.

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

     Any notice or communication mailed to a Holder shall be mailed by first-class mail, postage
prepaid, or delivered by an overnight delivery service to it at its address shown on the Register.

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

     Section 13.03. Communications by Holders with Other Holders. Holders may communicate
pursuant to TIA Section 312(b) with other Holders with respect to their rights under this Indenture
or the Securities. The Company, the Trustee, the Registrar and any other Person shall have the
protection of TIA Section 312(c).

     Section 13.04. Certificate and Opinion as to Conditions Precedent.

     (a) Upon any request or application by the Company to the Trustee to take any action under
this Indenture, the Company shall furnish to the Trustee at the request of the Trustee:

     (i) an Officer’s Certificate stating that, in the opinion of the signers, all
conditions precedent (including any covenants, compliance with which constitutes a
condition precedent), if any, provided for in this Indenture relating to the proposed
action have been complied with; and

     (ii) an Opinion of Counsel stating that, in the opinion of such counsel, all such
conditions precedent (including any covenants, compliance with which constitutes a
condition precedent) have been complied with.

     (b) Each Officer’s Certificate and Opinion of Counsel with respect to compliance with a
condition or covenant provided for in this Indenture shall include:

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

69

 

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

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

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

provided that with respect to matters of fact an Opinion of Counsel may rely on an Officer’s
Certificate or certificates of public officials.

     Section 13.05. Record Date for Vote or Consent of Holders. The Company may set a record date
for purposes of determining the identity of Holders entitled to vote or consent to any action by
vote or consent authorized or permitted under this Indenture, which record date shall not be more
than 30 days prior to the date of the commencement of solicitation of such action. Notwithstanding
the provisions of Section 10.04, if a record date is fixed, those Persons who were Holders of
Securities at the Close of Business on such record date (or their duly designated proxies), and
only those Persons, shall be entitled to take such action by vote or consent or to revoke any vote
or consent previously given, whether or not such Persons continue to be Holders after such record
date.

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

     Section 13.07. Legal Holidays. A “Legal Holiday” is a Saturday, Sunday or a day on which
state or federally chartered banking institutions in New York, New York and the state in which the
Corporate Trust Office is located are not required to be open. If a payment date is a Legal
Holiday, payment shall be made on the next succeeding day that is not a Legal Holiday, and no
interest (including Additional Interest, if any) shall accrue for the intervening period.

     Section 13.08. Governing Law. This Indenture and the Securities shall be
governed by, and construed in accordance with,
the laws of the State of New York.

     Section 13.09. No Adverse Interpretation of Other Agreements. This Indenture may not be used
to interpret another indenture, loan or debt agreement of the Company or a Subsidiary of the
Company. Any such indenture, loan or debt agreement may not be used to interpret this Indenture.

     Section 13.10. No Recourse Against Others All liability described in paragraph 14 of the
Securities of any incorporator or past, present or future

70

 

director, officer, employee or
stockholder, as such, of the Company and any successor is waived and released.

     Section 13.11. Successors. All agreements of the Company in this Indenture and the
Securities shall bind its successors. All agreements of the Trustee in this Indenture shall bind
its successor.

     Section 13.12. Multiple Counterparts. The parties may sign multiple counterparts of this
Indenture. Each signed counterpart shall be deemed an original, but all of them together represent
the same agreement.

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

     Section 13.14. Calculations in Respect of the Securities. The Company or its agents shall
make all calculations under this Indenture and the Securities in good faith. In the absence of
manifest error, such calculations shall be final and binding on all Holders. The Company or its
agents shall provide a copy of such calculations to the Trustee as required hereunder, and the
Trustee shall be entitled to conclusively rely on the accuracy of any such calculation without
independent verification.

     Section 13.15. Table of Contents, Headings, Etc. The table of contents, cross-reference
sheet and headings of the Articles and Sections of this Indenture have been inserted for
convenience of reference only, are not to be considered a part hereof, and shall in no way modify
or restrict any of the terms or provisions hereof.

[Signature Page Follows]

71

 

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

	 	 	 	 	 
	 	RAMBUS INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	U.S. BANK NATIONAL ASSOCIATION,
      as Trustee

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

 

SCHEDULE A

     The following table sets forth an indicative number of additional shares to be received per
$1,000 principal amount of notes:

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Stock Price
	Make-Whole	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Effective Date	 	$	 	$	 	$	 	$	 	$	 	$	 	$	 	$	 	$	 	$	 	$	 	$	 	$	 	$
	June  , 2009
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	June 15, 2010
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	June 15, 2011
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	June 15, 2012
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	June 15, 2013
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	June 15, 2014
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

 

EXHIBIT A

[FORM OF FACE OF SECURITY]

     [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER,
EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH
OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE
& CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. THIS SECURITY IS A
GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN
THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY IS EXCHANGEABLE FOR SECURITIES
REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE ONLY IN THE LIMITED
CIRCUMSTANCES DESCRIBED IN THE INDENTURE AND, UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART
FOR SECURITIES IN DEFINITIVE FORM, THIS SECURITY MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE
DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR
ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR
DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY.]1

 

			
	1	 	This legend is to be included only if the Security is a
Global Security.

A-1

 

Rambus Inc.

% Convertible Senior Notes due 2014

			
	 	 	 
	No. [                    ]
	 	U.S. $[     ]

CUSIP: [      
                ]

ISIN: [                    ]

     Rambus Inc., a Delaware corporation (the “Company”, which term shall include any successor
Person under the Indenture referred to on the reverse hereof), for value received, promises to pay
to Cede & Co., or registered assigns, the principal amount of                      Dollars ($      ), or such
greater or lesser amount as is indicated on the Schedule of Exchanges of Securities on the reverse
side of this Security on June 15, 2014 unless earlier converted, redeemed or repurchased, and to
pay interest thereon as set forth in the manner, at the rates and to the Persons set forth in the
Indenture and the reverse hereof. Payment of the principal of this Security shall be made in the
form and manner set forth in the Indenture and the reverse hereof.

     Reference is hereby made to the further provisions of this Security set forth on the reverse
side of this Security, including, without limitation, provisions giving the Holder the right to
convert this Security into shares of Common Stock of the Company and to require the Company to
repurchase this Security upon certain events, in each case, on the terms and subject to the
limitations referred to on the reverse hereof and as more fully specified in the Indenture. Such
further provisions shall for all purposes have the same effect as though fully set forth at this
place. Capitalized terms used but not defined herein shall have such meanings as are ascribed to
such terms in the Indenture.

     This Security shall be deemed to be a contract made under the laws of the State of New York,
and for all purposes shall be construed in accordance with and governed by the laws of said State.

     This Security shall not be valid or become obligatory for any purpose until the certificate of
authentication hereon shall have been manually signed by the Trustee or a duly authorized
authenticating agent under the Indenture.

[Signature page follows]

A-2

 

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

	 	 	 	 	 
	 	RAMBUS INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 	Date:	 	 
	 

	 	 	 	 	 
	TRUSTEE’S CERTIFICATION OF 

AUTHENTICATION	 	 
	 
	 	 	 	 
	U.S. BANK NATIONAL ASSOCIATION, as

Trustee, certifies that this is one
of the
 Securities described in the
within-mentioned 
Indenture.	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

Name:
	 	 
	 

	 	Authorized Signatory	 	 
	Date:
	 	 	 	 

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[FORM OF REVERSE SIDE OF SECURITY]

Rambus Inc.

% Convertible Senior Notes due 2014

     This Security is one of a duly authorized issue of      % Convertible Senior Notes due 2014
(the “Securities”) of the Company issued under an Indenture, dated as of June  , 2009 (the
“Indenture”), between the Company and U.S. Bank National Association, as trustee (the “Trustee”).
The terms of the Security include those stated in the Indenture, those made part of the Indenture
by reference to the Trust Indenture Act of 1939, as amended (the “TIA”), and those set forth in
this Security. This Security is subject to all such terms, and Holders are referred to the
Indenture and the TIA for a statement of all such terms. To the extent permitted by applicable
law, if any provision of this Security conflicts with the express provisions of the Indenture, the
provisions of the Indenture shall govern and be controlling. Capitalized terms used but not
defined herein have the meanings assigned to them in the Indenture unless otherwise indicated.

     1. Interest.

     Subject to adjustment under Section 8.04 of the Indenture, this Security shall bear interest
at a rate of      % per annum on the principal amount. Interest on this Security shall accrue from
the most recent date to which interest has been paid or, if no interest has been paid, from June
        , 2009. Interest will be payable semi-annually, in arrears, on each June 15 and December 15,
beginning on December 15, 2009, to holders of record at the Close of Business on the immediately
preceding June 1 and December 1, respectively. Interest will be computed on the basis of a 360-day
year comprised of twelve 30-day months. If a payment date is not a Business Day, payment will be
made on the next succeeding Business Day, and no interest (including Additional Interest, if any)
will accrue for the intervening period.

     Interest (including Additional Interest, if any) will cease to accrue on the Securities upon
the Maturity Date, their redemption by the Company or their conversion or repurchase by the Company at the option of the Holder.

     2. Method of Payment.

     Payment of the principal of the Securities shall be made at the Corporate Trust Office of the
Trustee in such coin or currency of the United States of America as at the time of payment is legal
tender for payment of public and private debts. The Holder must surrender this Security to a
Paying Agent to collect payment of principal. Payment of interest including Additional Interest,
if any, on Certificated Securities shall be made by check mailed to the address of the Person
entitled thereto as such address appears in the Register; provided,

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however, that Holders with Securities in an aggregate principal amount in excess of $2.0
million shall be paid, at their written election, by wire transfer of immediately available funds.
Notwithstanding the foregoing, so long as the Securities are registered in the name of a Depositary
or its nominee, all payments with respect to the Securities shall be made by wire transfer of
immediately available funds to the account of the Depositary or its nominee.

     3. Paying Agent, Registrar and Conversion Agent.

     Initially, the Trustee will act as Paying Agent, Registrar and Conversion Agent. The Company
or any Affiliate of the Company may act as Paying Agent, Registrar or Conversion Agent.

     4. Indenture.

     The Securities are general unsecured senior obligations of the Company. The Indenture does
not limit the ability of the Company to incur other debt, secured or unsecured.

     5. Redemption at the Option of the Company.

     The Securities are redeemable in whole, or from time to time in part, at any time on or after
June 15, 2012 at the option of the Company if the Closing Sale Price of the Common Stock has been
greater than or equal to 130% of the Conversion Price then in effect for at least 20 Trading Days
during the 30 consecutive Trading Day period immediately prior to any date on which the Company provides notice
of redemption. The redemption price at which the Securities are redeemable (the “Redemption
Price”) shall be payable in cash and shall be equal to 100% of the principal amount of Securities
being redeemed, together with accrued and unpaid interest (including Additional Interest), if any
to, but excluding, the Redemption Date. No sinking fund is provided for the Securities.

	     6.	 	Purchase by the Company at the Option of the Holder Upon a Fundamental
Change.

     Subject to the terms and conditions of the Indenture, the Company shall become obligated to
purchase, at the option of any Holder, all or any portion of the Securities held by such Holder
upon a Fundamental Change in principal amounts of $1,000 or multiples of $1,000 at the Fundamental
Change Repurchase Price. To exercise such right, a Holder shall deliver to the Paying Agent, and
the Paying Agent must receive, a Fundamental Change Repurchase Notice containing the information
set forth in the Indenture, at any time prior to the Close of Business on the Business Day
immediately preceding the Fundamental Change Repurchase Date, and shall deliver the Securities to
the Paying Agent as set forth in the Indenture.

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     Holders have the right to withdraw (in whole or in part) any Fundamental Change Repurchase
Notice by delivering to the Paying Agent a written notice of withdrawal in accordance with the
provisions of the Indenture.

     If cash sufficient to pay the Fundamental Change Repurchase Price of all Securities or
portions thereof to be purchased with respect to a Fundamental Change Repurchase Date is deposited
with the Paying Agent by 10:00 a.m., New York City time, on the Fundamental Change Repurchase Date,
then, immediately after such Fundamental Change Repurchase Date, such Securities shall cease to be
outstanding and interest (including Additional Interest, if any) on such Securities shall cease to
accrue, whether or not such Securities are delivered by their Holders to the Paying Agent, and the
Holders thereof shall have no other rights as such (other than the right to receive the Fundamental
Change Repurchase Price upon delivery of such Securities by their Holders to the Paying Agent).

     7. Conversion.

     Subject to the provisions of the Indenture (including without limitation the conditions of
conversion of Securities set forth in Article 5 thereof), the Holder hereof has the right, at its
option, to convert the principal amount hereof or any portion of such principal which is $1,000 or
a multiple thereof, into cash and shares of Common Stock, at the Conversion Rate specified in the
Indenture. The initial Conversion Rate is            shares of Common Stock per $1,000 principal amount
of Securities (equivalent to a Conversion Price of approximately $  per share of Common Stock),
subject to adjustment in certain events described in the Indenture.

     Upon conversion, the Company will pay cash and shares of Common Stock, if any, based on a
Settlement Amount calculated on a proportionate basis for each day of the Conversion Reference
Period, as set forth in the Indenture. No fractional shares will be issued upon any conversion,
but an adjustment and payment in cash will be made, as provided in the Indenture, in respect of any
fraction of a share which would otherwise be issuable upon the surrender of any Securities for
conversion. Securities in respect of which a Holder is exercising its right to require repurchase
on a Fundamental Change Repurchase Date may be converted only if such Holder withdraws its election
to exercise such right in accordance with the terms of the Indenture;

     8. Denominations; Transfer; Exchange.

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

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     9. Persons Deemed Owners.

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

     10. Unclaimed Money or Securities.

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

     11. Amendment, Supplement and Waiver.

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

     12. Additional Securities.

     Subject to the terms of the Indenture, Additional Securities may be issued by the Company,
without the consent of the Holders, with the same terms and with the same CUSIP number as the
Securities in an unlimited aggregate principal amount; provided, however, that no such Additional
Securities may be issued unless fungible with this Security for United States Federal income tax
purposes.

     13. Defaults and Remedies.

     If any Event of Default other than as a result of certain events of bankruptcy, insolvency or
reorganization of the Company occurs and is continuing, the principal of all the Securities then
outstanding plus accrued and unpaid interest (including Additional Interest, if any), may be
declared due and payable in the manner and with the effect provided in the Indenture. If an Event
of Default occurs as a result of certain events of bankruptcy, insolvency or reorganization of the
Company, the principal amount of the Securities plus accrued and unpaid interest (including
Additional Interest, if any) shall become

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due and payable immediately without any declaration or other act on the part of the Trustee or
any Holder, all to the extent provided in the Indenture.

     14. No Recourse Against Others.

     No recourse under or upon any obligation, covenant or agreement contained in the Indenture, or
in this Security, or because of any indebtedness evidenced thereby or hereby, shall be had against
any incorporator, as such, or against any past, present or future employee, stockholder, officer or
director, as such, of the Company or of any successor, either directly or through the Company or
any successor, under any rule of law, statute or constitutional provision or by the enforcement of
any assessment or by any legal or equitable proceeding or otherwise, all such liability being
expressly waived and released by the acceptance of the Securities by the Holders and as part of the
consideration for the issuance of the Securities.

     15. Trustee Dealings with the Company.

     Subject to certain limitations imposed by the TIA and the Indenture, the Trustee under the
Indenture, in its individual or any other capacity, may become the owner or pledgee of Securities
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.

     16. Authentication.

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

     17. Abbreviations.

     Customary abbreviations may be used in the name of the Holder or an assignee, such as: TEN
COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with
right of survivorship and not as tenants in common), CUST (= Custodian) and UGMA (= Uniform Gifts
to Minors Act).

     18. Indenture to Control; Governing Law.

     To the extent permitted by applicable law, if any provision of this Security conflicts with
the express provisions of the Indenture, the provisions of the Indenture shall govern and be
controlling. This Security shall be governed by, and construed in accordance with, the laws of the
State of New York.

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     19. Copies of Indenture.

     The Company will furnish to any Holder, upon written request and without charge, a copy of the
Indenture. Requests may be made to: Rambus Inc., 4440 El Camino Real, Los Altos, CA 94022,
Facsimile No. (650) 947-5001, Attention: General Counsel.

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SCHEDULE OF EXCHANGES OF SECURITIES2

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

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	Principal
	 	 	 	 	 	 	 	 	 	 	Amount of this
	 	 	 	 	Authorized	 	Decrease in	 	Increase in	 	Global Security
	 	 	Date of	 	Signatory of	 	Principal	 	Principal	 	Following Such
	 	 	Decrease or	 	Securities	 	Amount of this	 	Amount of this	 	Decrease or
	 	 	Increase	 	Custodian	 	Global Security	 	Global Security	 	Increase
	 
	 	 	 	 	 	 	 	 

 

			
	2	 	This schedule is to be included only if the Security is
a Global Security.

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ASSIGNMENT FORM

     To assign this Security, fill in the form below:

     I or we assign and transfer this Security to

 

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

 

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

and irrevocably appoint agent to transfer this Security on the books of the Company. The agent may
substitute another to act for him.

	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Your Signature
	 
	 	 	 	 	 	 
	Date:
	 	 	 	 	 	 
	 

	 	 
	 	 	 	 
	 

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

	 	 	 	 	 
	Signature Guaranteed	 	 
	 
	 	 	 	 
	 	 	 
	Participant in a Recognized Signature	 	 
	Guarantee Medallion Program	 	 
	 
	 	 	 	 
	By
	 	 	 	 
	 

	 	 

	 	 
	Authorized Signatory	 	 

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FORM OF CONVERSION NOTICE

     To convert this Security into the Settlement Amount, check the box o

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

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

 

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

 

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

	 	 	 	 	 	 	 
	Dated 
	 	 	 	 	 	 
	 	 	 	 
	 
	 	 	 	 	 	 
	Your Signature:	 	 	 	 
	 	 	 	 	 
	 	 	 	 	(Sign exactly as your name appears on the other side of this Security)

	 	 	 	 	 
	Signature Guaranteed	 	 
	 
	 
	 	 	 
	Participant in a Recognized Signature	 	 
	Guarantee Medallion Program	 	 
	 
	 	 	 	 
	By
	 	 	 	 
	 

	 	 

	 	 
	Authorized Signatory	 	 

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FORM OF FUNDAMENTAL CHANGE REPURCHASE NOTICE

U.S. Bank National Association

633 West Fifth Street, 24th Floor

LM-CA-T24T

Los Angeles, CA 90071

Attention: Corporate Trust Services

			
	     Re:	 	Rambus Inc. (the “Company”)

       % Convertible Senior Notes due 2014

     This is a Fundamental Change Repurchase Notice as defined in Section 4.01(c) of the Indenture,
dated as of June  , 2009 (the “Indenture”), between the Company and U.S. Bank National
Association, as Trustee. Terms used but not defined herein shall have the meanings ascribed to
them in the Indenture.

	 	 	 
	Certificate No(s). of Securities:
	 	 
	 

	 	 

     I intend to deliver the following aggregate principal amount of Securities for purchase by the
Company pursuant to Article 4 of the Indenture (in multiples of $1,000):

$

     I hereby agree that the Securities will be purchased on the Fundamental Change Repurchase Date
pursuant to the terms and conditions specified in the Securities and in the Indenture.

	 	 	 
	Signed:
	 	 
	 

	 	 

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