Document:

merion_ex102.htm

EXHIBIT 10.2

 

SECURITIES PURCHASE AGREEMENT

 

This Securities Purchase Agreement (this “Agreement”) is dated as of March 21, 2018 (the “Effective Date”) by and between Merion, Inc., a Nevada corporation (the “Company”) and YING, YUANQIANG (the “Purchaser”).

 

RECITALS

 

WHEREAS, subject to the terms and conditions set forth in this Agreement and pursuant to an exemption from the registration requirements of Section 5 of the Securities Act contained in Section 4(a)(2) thereof and/or Regulations D and S thereunder, the Company desires to issue and sell to the Purchaser, and the Purchaser desires to purchase from the Company, certain securities of the Company as more fully described in this Agreement.

 

NOW, THEREFORE, IN CONSIDERATION of the mutual covenants contained in this Agreement, and for other good and valuable consideration the receipt and adequacy of which are hereby acknowledged, the Company and the Purchaser agree as follows:

 

ARTICLE I.

DEFINITIONS

 

1.1 Definitions. In addition to the terms defined elsewhere in this Agreement, the following terms have the meanings set forth in this Section 1.1:

 

“Affiliate” means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common control with a Person as such terms are used in, and construed, under Rule 405 under the Securities Act.

 

“Board of Directors” means the board of directors of the Company.

 

“Business Day” means any day except any Saturday, any Sunday, any day which is a federal legal holiday in the United States or any day on which banking institutions in the State of New York are authorized or required by law or other governmental action to close.

 

“Closing” means the closing of the purchase and sale of the Shares pursuant to Section 2.1.

 

“Closing Date” means the day on which all of the Transaction Documents have been executed and delivered by the applicable parties thereto, and all conditions precedent to (i) the Purchaser’s obligations to pay the Subscription Amount and (ii) the Company’s obligations to deliver the Shares, in each case, have been satisfied or waived, but in no event later than April 30, 2018.

 

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

 

“Common Stock” means the common stock of the Company, par value $0.001 per share, and any other class of securities into which such securities may hereafter be reclassified or changed. 

 
	 
	Page 1 of 11
	

 
	 

 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 

“Exchange Rules” shall mean the listing rules of The OTCQB Marketplace.

 

“Liens” means a lien, charge, pledge, security interest, encumbrance, right of first refusal, preemptive right or other restriction.

 

“Per Share Purchase Price” equals $0.90 per share of Common Stock, subject to adjustment for reverse and forward stock splits, stock combinations and other similar transactions of the Common Stock that may occur after the date of this Agreement.

 

“Person” means an individual, corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

 

“Required Approvals” shall have the meaning ascribed to such term in Section 3.1(c).

 

“Rule 144” means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended or interpreted from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same purpose and effect as such Rule. 

 

“SEC Reports” shall have the meaning ascribed to such term in Section 3.1(f).

 

“Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

 

“Securities Laws” means, collectively, the Sarbanes-Oxley Act of 2002, as amended (“Sarbanes-Oxley”), the Securities Act, the Exchange Act, the Rules and Regulations, the auditing principles, rules, standards and practices applicable to auditors of “issuers” (as defined in Sarbanes-Oxley) promulgated or approved by the Public Company Accounting Oversight Board, the Exchange Rules and applicable state securities laws and regulations. 

 

“Shares” means an aggregate of 11,112 shares of Common Stock to be issued to the Purchaser pursuant to this Agreement (the “Shares”).

 

“Short Sales” means all “short sales” as defined in Rule 200 of Regulation SHO under the Exchange Act (but shall not be deemed to include the location and/or reservation of borrowable shares of Common Stock).

 

“Subscription Amount” means, an aggregate amount of $10,000 to be paid for Shares purchased by the Purchaser in United States dollars and in immediately available funds.

 

“Subsidiary” means any subsidiary of the Company and shall, where applicable, also include any direct or indirect subsidiary of the Company formed or acquired after the date hereof.

 

“Trading Day” means a day on which the principal Trading Market is open for trading.

 

	 
	Page 2 of 11
	

 
	 

 

“Trading Market” means any of the following markets or exchanges on which the Common Stock is listed or quoted for trading on the date in question: the OTCQB or the OTC Pink Open Market (or any successors to any of the foregoing).

 

“Transaction Documents” means this Agreement, and any other documents or agreements executed between the Company and the Purchaser in connection with the transactions contemplated hereunder.

 

“Transfer Agent” means Worldwide Stock Transfer, LLC, the current transfer agent of the Company, with a mailing address of One University Plaza, Suite 505.Hackensack, NJ 07601, and any successor transfer agent of the Company.

 

ARTICLE II.

PURCHASE AND SALE

 

2.1 Closing. On the Closing Date, upon the terms and subject to the conditions set forth herein, the Company agrees to sell, and the Purchaser agrees to purchase, up to an aggregate of 11,112 of Shares. Upon receiving the Purchaser’s Subscription Amount on the Closing Date and the delivery by the Purchaser of the other items set forth in Section 2.2 deliverable at the Closing, the Company shall deliver the Shares to the Purchaser as determined pursuant to Section 2.2(a). 

 

2.2 Deliveries.

 

(a) On or prior to the Closing Date, the Company shall deliver or cause to be delivered to the Purchaser each of the following:

 

(i) this Agreement duly executed by the Company;

 

(ii) subject to the last sentence of Section 2.1, a copy of the irrevocable instructions to the Transfer Agent instructing the Transfer Agent to deliver the Shares equal to the Purchaser’s Subscription Amount divided by the Per Share Purchase Price, in the name of the Purchaser.

 

(b) On or prior to the Closing Date, the Purchaser shall deliver or cause to be delivered to the Company, as applicable, the following:

 

(i) this Agreement duly executed by the Purchaser; and

 

(ii) the Purchaser’s Subscription Amount by wire transfer to the bank account directed by the Company.

 

2.3 Closing Conditions.

 

(a) The obligations of the Company hereunder in connection with the Closing are subject to the following conditions being met:

 
	 
	Page 3 of 11
	

 
	 

 

(i) the accuracy when made and on the Closing Date of the representations and warranties of the Purchaser contained herein (unless as of a specific date therein in which case they shall be accurate as of such date); 

 

(ii) all obligations, covenants and agreements of the Purchaser required to be performed at or prior to the Closing Date shall have been performed; and

 

(iii) the delivery by the Purchaser of the items set forth in Section 2.2(b) of this Agreement on or prior to the Closing Date.

 

(b) The obligations of the Purchaser hereunder in connection with the Closing are subject to the following conditions being met:

 

(i) the accuracy when made and on the Closing Date of the representations and warranties of the Company contained herein (unless as of a specific date therein in which case they will be accurate as of such date); 

 

(ii) all obligations, covenants and agreements of the Company required to be performed at or prior to the Closing Date shall have been performed; 

 

(iii) the delivery by the Company of the items set forth in Section 2.2(a) of this Agreement on or prior to the Closing Date; and

 

(iv) there shall have been no material adverse effect with respect to the Company since the date hereof.

 

ARTICLE III.

REPRESENTATIONS AND WARRANTIES

 

3.1 Representations and Warranties of the Company. Except as indicated in the SEC Reports, the Company hereby represents and warrants to the Purchaser as of the date of this Agreement and as of the Closing Date as follows:

 

(a) Organization and Qualification. The Company and each of the Subsidiaries, if any, is an entity duly incorporated or otherwise organized and validly existing under the laws of each jurisdiction in which it owns or leases properties or conducts any business so as to require such qualification, with the requisite power and authority to own and use its properties and assets and to carry on its business as currently conducted. 

 

(b) Authorization; Enforcement. The Company has the requisite corporate power and authority to enter into and to consummate the transactions contemplated by this Agreement and each of the other Transaction Documents and otherwise to carry out its obligations hereunder and thereunder. The execution and delivery of this Agreement and each of the other Transaction Documents by the Company and the consummation by it of the transactions contemplated hereby and thereby have been duly authorized by all necessary action on the part of the Company and no further action is required by the Company, the Board of Directors or the Company’s stockholders in connection herewith or therewith other than in connection with the Required Approvals (as defined below).

 
	 
	Page 4 of 11
	

 
	 

 

(c) Filings, Consents and Approvals. The Company is not required to obtain any consent, waiver, authorization or order of, give any notice to, or make any filing or registration with, any governmental authority or any court or other federal, state, local or other governmental authority or other Person in connection with the execution, delivery and performance by the Company of the Transaction Documents or the offer, issue and sale of the Shares, other than: (i) the disclosure filing required for this Agreement, (ii) such filings as are required to be made under applicable state securities laws, and (iii) such consents, waivers and authorizations that shall be obtained prior to the Closing (collectively, the “Required Approvals”).

 

(d) Authorization of the Shares. The Shares to be sold by the Company and their issue and sale are duly authorized and, when issued and paid for in accordance with the applicable Transaction Documents, will be duly and validly issued, fully paid and free and clear of all Liens imposed by the Company.

 

(e) Capitalization. Except as may be described in the SEC Reports, all of the issued share capital of the Company has been duly and validly authorized and issued, is fully paid and non-assessable. 

 

(f) SEC Reports. The Company has filed all reports, schedules, forms, statements and other documents required to be filed by the Company under the Securities Act and the Exchange Act, including pursuant to Section 13(a) or 15(d) thereof, for the two years preceding the date hereof (or such shorter period as the Company was required by law or regulation to file such material) (the foregoing materials, including the exhibits thereto, documents incorporated by reference therein, being collectively referred to herein as the “SEC Reports”). 

 

(g) Investment Company. The Company is not, and is not an Affiliate of, and immediately after receipt of payment for the Shares, will not be or be an Affiliate of, an “investment company” within the meaning of the Investment Company Act of 1940, as amended. 

 

(h) No Broker. The Company has not employed any broker, finder or agent, nor become obligated in any way to pay any broker’s, finder’s or agent’s or similar fee with respect to the purchase and sale of the Shares.

 

3.2 Representations and Warranties of the Purchaser. The Purchaser hereby represents and warrants as of the date hereof and as of the Closing Date to the Company as follows (unless as made of a specific date stated therein, in which case they shall be accurate as of such date):

 

(a) Organization; Authority. The Purchaser is either an individual or an entity duly incorporated or formed, validly existing and in good standing under the laws of the jurisdiction of its incorporation or formation with full right, corporate, partnership, limited liability company or similar power and authority to enter into and to consummate the transactions contemplated by the Transaction Documents and otherwise to carry out its obligations hereunder and thereunder. The execution and delivery of the Transaction Documents and performance by the Purchaser of the transactions contemplated by the Transaction Documents have been duly authorized by all necessary corporate, partnership, limited liability company or similar action, as applicable, on the part of the Purchaser. Each Transaction Document to which it is a party has been duly executed by the Purchaser, and when delivered by the Purchaser in accordance with the terms hereof, will constitute the valid and legally binding obligation of the Purchaser, enforceable against it in accordance with its terms.

 
	 
	Page 5 of 11
	

 
	 

 

(b) Understandings or Arrangements. The Purchaser is acquiring the Shares for its own account and has no direct or indirect arrangement or understandings with any other persons to distribute or regarding the distribution of the Shares (this representation and warranty not limiting the Purchaser’s right to sell the Shares in compliance with applicable federal and state securities laws). The Purchaser is acquiring the Shares as principal, not as nominee or agent, and not with a view to or for distributing or reselling the Shares or any part thereof in violation of the Securities Act or any applicable state securities law.

 

(c) Foreign Investors.  The Purchaser hereby represents that it has satisfied itself as to the full observance by the Purchaser of the laws of its jurisdiction applicable to the Purchaser in connection with the purchase of the Shares or the execution and delivery by the Purchaser of this Agreement and the Transaction Documents, including (i) the legal requirements within its jurisdiction for the purchase of the Shares, (ii) any foreign exchange restrictions applicable to the purchase, (iii) any governmental or other consents that may need to be obtained, and (iv) the income tax and other tax consequences, if any, that may be relevant to the Purchaser’s purchase, holding, redemption, sale, or transfer of the Shares. The Purchaser’s subscription and payment for, and continued beneficial ownership of, the Shares will not violate any securities or other laws of the Purchaser’s jurisdiction applicable to the Purchaser.

 

(d) Experience of Purchaser. The Purchaser, either alone or together with its representatives, has such knowledge, sophistication and experience in business and financial matters so as to be capable of evaluating the merits and risks of the prospective investment in the Shares, and has so evaluated the merits and risks of such investment. The Purchaser is able to bear the economic risk of an investment in the Shares and, at the present time, is able to afford a complete loss of such investment.

 

(e) Access to Information. The Purchaser acknowledges that it has had the opportunity to review the Transaction Documents and the SEC Reports and has been afforded (i) the opportunity to ask such questions as it has deemed necessary of, and to receive answers from, representatives of the Company concerning the terms and conditions of the offering of the Shares and the merits and risks of investing in the Shares; (ii) access to information about the Company and its financial condition, results of operations, business, properties, management and prospects sufficient to enable it to evaluate its investment; and (iii) the opportunity to obtain such additional information that the Company possesses or can acquire without unreasonable effort or expense that is necessary to make an informed investment decision with respect to the investment. 

 

(f) Regulation S. The Purchaser is a non-U.S. person (as such term is defined in Rule 902 of Regulation S under the Securities Act) and is not acquiring the Shares for the account or benefit of a U.S. person. The Purchaser will not, within six (6) months of the date of the transfer of the Shares to the Purchaser, (i) make any offers or sales of the Shares in the United States or to, or for the benefit of, a U.S. person (in each case, as defined in Regulation S) other than in accordance with Regulation S or another exemption from the registration requirements of the Securities Act, or (ii) engage in hedging transactions with regard to the Shares unless in compliance with the Securities Act. Neither the Purchaser nor any of the Purchaser’s Affiliates or any person acting on his/her or their behalf has engaged or will engage in directed selling efforts (within the meaning of Regulation S) with respect to the Shares, and all such persons have complied and will comply with the offering restriction requirements of Regulation S in connection with the offering of the Shares outside of the United States. 

 
	 
	Page 6 of 11
	

 
	 

 

(g) Certain Transactions and Confidentiality. Other than consummating the transactions contemplated hereunder, the Purchaser has not, nor has any Person acting on behalf of or pursuant to any understanding with the Purchaser, directly or indirectly executed any purchases or sales, including Short Sales, of the securities of the Company during the period commencing as of the time that the Purchaser first discussed the transaction with the Company or any other Person representing the Company setting forth the material terms of the transactions contemplated hereunder and ending on the date when this Agreement is publicly disclosed by the Company. The Purchaser has maintained the confidentiality of all disclosures made to it in connection with this transaction (including the existence and terms of this transaction).

 

(h) Purchaser Status. At the time the Purchaser was offered the Shares, it was, and as of the date hereof it is, an “accredited investor” as defined in Rule 501(a) under the Securities Act.

 

(i) No Registration. The Purchaser understands that the Shares have not been, and will not be, registered under the Securities Act or applicable securities laws of any state or country and therefore the Shares cannot be sold, pledged, assigned or otherwise disposed of unless they are subsequently registered under the Securities Act and applicable state securities laws or exemptions from such registration requirements are available. The Company shall be under no obligation to register the Shares under the Securities Act and applicable state securities laws, and any such registration shall be in the Company’s sole discretion.

 

(j) No General Solicitation. The Purchaser is not purchasing the Shares as a result of any advertisement, article, notice or other communication regarding the Shares published in any newspaper, magazine or similar media or broadcast over television or radio or presented at any seminar or any other general solicitation or general advertisement.

 

(k) Brokers or Finders. The Purchaser has not engaged any brokers, finders or agents, and the Company has not, nor will, incur, directly or indirectly, as a result of any action taken by the Purchaser, any liability for brokerage or finders’ fees or agents’ commissions or any similar charges in connection with this Agreement.

 

ARTICLE IV.

OTHER AGREEMENTS OF THE PARTIES

 

4.1 Reservation of Securities. As of the date hereof, the Company has reserved and the Company shall continue to reserve and keep available at all times, free of preemptive rights, a sufficient number of shares of Common Stock for issuance pursuant to the Transaction Documents in such amount as may then be required to fulfill its obligations in full under the Transaction Documents. 

 

4.2 Certain Transactions and Confidentiality. The Purchaser covenants that neither it nor any Affiliate acting on its behalf or pursuant to any understanding with it will execute any purchases or sales, including Short Sales of any of the Company’s securities during the period commencing with the execution of this Agreement and ending on the date when this Agreement is publicly disclosed by the Company. The Purchaser also covenants that until such time as the transactions contemplated by this Agreement are publicly disclosed by the Company, the Purchaser will maintain the confidentiality of the existence and terms of this transaction. 

 
	 
	Page 7 of 11
	

 
	 

 

4.3 Legends. The Shares may only be disposed of in compliance with state and federal securities laws. In connection with any transfer of Shares other than pursuant to an effective registration statement or Rule 144, to the Company or to an Affiliate of the Purchaser or in connection with a pledge as contemplated in this Section 4.3, the Company may require the transferor thereof to provide to the Company an opinion of counsel selected by the transferor and reasonably acceptable to the Company, the form and substance of which opinion shall be reasonably satisfactory to the Company, to the effect that such transfer does not require registration of such transferred Shares under the Securities Act. The Purchaser agrees to the imprinting, so long as is required by this Section 4.3, of a legend on all of the certificates evidencing the Shares in the following form:

 

THIS SECURITY HAS NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS.

 

ARTICLE V.

MISCELLANEOUS

 

5.1 Termination. This Agreement may be terminated by the Company or the Purchaser by written notice to the other party if the Closing has not been consummated on or before April 30, 2018; provided, however, that no such termination will affect the right of any party to sue for any breach by any other party (or parties).

 

5.2 Fees and Expenses. Except as expressly set forth in the Transaction Documents to the contrary, each party shall pay the fees and expenses of its advisers, counsel, accountants and other experts, if any, and all other expenses incurred by such party incident to the negotiation, preparation, execution, delivery and performance of this Agreement. 

 

5.3 Entire Agreement. The Transaction Documents contain the entire understanding of the parties with respect to the subject matter hereof and thereof and supersede all prior agreements and understandings, oral or written, with respect to such matters, which the parties acknowledge have been merged into such documents, exhibits and schedules.

 

5.4 Notices. Any and all notices or other communications or deliveries required or permitted to be provided hereunder shall be in writing and shall be deemed given and effective on the earliest of: (a) the date of transmission, if such notice or communication is delivered via facsimile at or prior to 5:30 p.m. (New York City time) on a Trading Day, (b) the next Trading Day after the date of transmission, if such notice or communication is delivered via facsimile on a day that is not a Trading Day or later than 5:30 p.m. (New York City time) on any Trading Day, (c) the second (2nd) Trading Day following the date of mailing, if sent by U.S. nationally recognized overnight courier service or (d) upon actual receipt by the party to whom such notice is required to be given. The address for such notices and communications shall be as set forth on the signature pages attached hereto.

 
	 
	Page 8 of 11
	

 
	 

 

5.5 Amendments; Waivers. No provision of this Agreement may be waived, modified, supplemented or amended except in a written instrument signed, in the case of an amendment, by the Company and the Purchaser, in the case of a waiver, by the party against whom enforcement of any such waived provision is sought. No waiver of any default with respect to any provision, condition or requirement of this Agreement shall be deemed to be a continuing waiver in the future or a waiver of any subsequent default or a waiver of any other provision, condition or requirement hereof, nor shall any delay or omission of any party to exercise any right hereunder in any manner impair the exercise of any such right.

 

5.6 Headings. The headings herein are for convenience only, do not constitute a part of this Agreement and shall not be deemed to limit or affect any of the provisions hereof.

 

5.7 Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their successors and permitted assigns. No party hereto may assign this Agreement or any rights or obligations hereunder without the prior written consent of the Company and the Purchaser. 

 

5.8 No Third-Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective successors and permitted assigns and is not for the benefit of, nor may any provision hereof be enforced by, any other Person, except as otherwise set forth in this Section 5.8.

 

5.9 Governing Law. All questions concerning the construction, validity, enforcement and interpretation of the Transaction Documents shall be governed by and construed and enforced in accordance with the internal laws of the State of Nevada, without regard to the principles of conflicts of law thereof. Each party agrees that all legal proceedings concerning the interpretations, enforcement and defense of the transactions contemplated by this Agreement and any other Transaction Documents (whether brought against a party hereto or its respective affiliates, directors, officers, shareholders, partners, members, employees or agents) shall be commenced exclusively in the state and federal courts sitting in the Clark County, Nevada. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in Clark County, Nevada, for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein (including with respect to the enforcement of any of the Transaction Documents), and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is improper or is an inconvenient venue for such proceeding. Each party hereby irrevocably waives personal service of process and consents to process being served in any such suit, action or proceeding by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under this Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any other manner permitted by law. 

 
	 
	Page 9 of 11
	

 
	 

 

5.10 Survival. The representations and warranties contained herein shall survive the Closing and the delivery of the Shares. The terms of this Article V shall survive any termination of the Agreement pursuant to Section 5.1. 

 

5.11 Execution. This Agreement may be executed in two or more counterparts, all of which when taken together shall be considered one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to each other party, it being understood that the parties need not sign the same counterpart. In the event that any signature is delivered by facsimile transmission or by e-mail delivery of a “.pdf” format data file, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as if such facsimile or “.pdf” signature page were an original thereof.

 

5.12 Severability. If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction to be invalid, illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full force and effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall use their commercially reasonable efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated by such term, provision, covenant or restriction. It is hereby stipulated and declared to be the intention of the parties that they would have executed the remaining terms, provisions, covenants and restrictions without including any of such that may be hereafter declared invalid, illegal, void or unenforceable.

 

5.13 Saturdays, Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any right required or granted herein shall not be a Business Day, then such action may be taken or such right may be exercised on the next succeeding Business Day.

 

5.14 Construction. The parties agree that each of them and/or their respective counsel have reviewed and had an opportunity to revise the Transaction Documents and, therefore, the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of the Transaction Documents or any amendments thereto. In addition, each and every reference to share prices and shares of Common Stock in any Transaction Document shall be subject to adjustment for reverse and forward stock splits, stock combinations and other similar transactions of the Common Stock that occur after the date of this Agreement. The English version of this Agreement, regardless of whether a translation in any other language is or will be made, shall be the only authentic version.

 

5.15 WAIVER OF JURY TRIAL. IN ANY ACTION, SUIT, OR PROCEEDING IN ANY JURISDICTION BROUGHT BY ANY PARTY AGAINST ANY OTHER PARTY, THE PARTIES EACH KNOWINGLY AND INTENTIONALLY, TO THE GREATEST EXTENT PERMITTED BY APPLICABLE LAW, HEREBY ABSOLUTELY, UNCONDITIONALLY, IRREVOCABLY AND EXPRESSLY WAIVES FOREVER TRIAL BY JURY. 

 

(Signature Pages Follow)

  

	 
	Page 10 of 11
	

 
	 

 

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Securities Purchase Agreement to be duly executed by their respective authorized signatories as of the date first indicated above.

 

COMPANY

 

MERION, INC.

 

By:_______________________________________

 

Name: DING HUA WANG

Title: CEO

 

Address for Notice:

9550 Flair Dr, Suite 302

El Monte CA 91731

Fax:: 626-448-2163

Email: info@merionus.com

 

PURCHASER

 

By:______________________________________ 

Name: YING, YUANQIANG

   
Address: 

Tel: 

Fax: 

Email:

 

 

	Page 11 of 11EX-4.2

 Exhibit 4.2 

EXECUTION VERSION 
 HELIX
ENERGY SOLUTIONS GROUP, INC. 
 4.125% Convertible Senior Notes Due 2023 

 
  

SECOND SUPPLEMENTAL INDENTURE 

Dated as of March 20, 2018 

to the 
 BASE INDENTURE 

Dated as of November 1, 2016 
  

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

 

 TABLE OF CONTENTS 

 

							
	 	  	Page	 
	 ARTICLE 1 ESTABLISHMENT OF NEW SERIES
	  	 	1	 
			
	 Section 1.01
	 	 Establishment of New Series
	  	 	1	 
		
	 ARTICLE 2 DEFINITIONS AND INCORPORATION BY REFERENCE
	  	 	2	 
			
	 Section 2.01
	 	 Definitions
	  	 	2	 
	 Section 2.02
	 	 Other Definitions
	  	 	9	 
	 Section 2.03
	 	 Incorporation by Reference of Trust Indenture Act
	  	 	10	 
	 Section 2.04
	 	 Rules of Construction
	  	 	10	 
		
	 ARTICLE 3 THE NOTES
	  	 	11	 
			
	 Section 3.01
	 	 Form and Dating
	  	 	11	 
	 Section 3.02
	 	 Execution and Authentication
	  	 	12	 
	 Section 3.03
	 	 Conversion Agent
	  	 	12	 
	 Section 3.04
	 	 Debt Tax Treatment
	  	 	12	 
		
	 ARTICLE 4 REDEMPTION AND REPURCHASES
	  	 	12	 
			
	 Section 4.01
	 	 Company’s Right to Redeem; Notices to Trustee
	  	 	12	 
	 Section 4.02
	 	 Selection of Notes to Be Redeemed
	  	 	13	 
	 Section 4.03
	 	 Notice of Redemption
	  	 	14	 
	 Section 4.04
	 	 Effect of Notice of Redemption
	  	 	15	 
	 Section 4.05
	 	 Deposit of Conversion Price Trigger Redemption Price
	  	 	15	 
	 Section 4.06
	 	 Notes Redeemed in Part
	  	 	15	 
	 Section 4.07
	 	 Repurchase of Notes at Option of the Holder Upon a Fundamental Change
	  	 	16	 
	 Section 4.08
	 	 Effect of Fundamental Change Repurchase Notice
	  	 	20	 
	 Section 4.09
	 	 Deposit of Fundamental Change Repurchase Price
	  	 	21	 
	 Section 4.10
	 	 Notes Purchased in Part
	  	 	21	 
	 Section 4.11
	 	 Covenant to Comply with Securities Laws upon Purchase of Notes
	  	 	21	 
	 Section 4.12
	 	 Repayment to the Company
	  	 	22	 
		
	 ARTICLE 5 COVENANTS
	  	 	22	 
			
	 Section 5.01
	 	 Payment of Notes
	  	 	22	 
	 Section 5.02
	 	 Maintenance of Office or Agency
	  	 	22	 
	 Section 5.03
	 	 Exchange Act Reports
	  	 	22	 
		
	 ARTICLE 6 SUCCESSOR PERSON
	  	 	22	 
			
	 Section 6.01
	 	 When Company May Merge or Transfer Assets
	  	 	22	 

  
 - i - 

							
	 ARTICLE 7 DEFAULTS AND REMEDIES
	  	 	24	 
			
	 Section 7.01
	 	 Events of Default
	  	 	24	 
	 Section 7.02
	 	 Acceleration
	  	 	25	 
	 Section 7.03
	 	 Other Remedies
	  	 	25	 
	 Section 7.04
	 	 Special Interest
	  	 	26	 
		
	 ARTICLE 8 AMENDMENTS
	  	 	26	 
			
	 Section 8.01
	 	 Without Consent of Holders
	  	 	26	 
	 Section 8.02
	 	 With Consent of Holders
	  	 	28	 
	 Section 8.03
	 	 Satisfaction and Discharge
	  	 	29	 
		
	 ARTICLE 9 CONVERSIONS
	  	 	30	 
			
	 Section 9.01
	 	 Conversion Privilege
	  	 	30	 
	 Section 9.02
	 	 Conversion Procedure and Payment Upon Conversion
	  	 	32	 
	 Section 9.03
	 	 Cash In Lieu Of Fractional Shares
	  	 	36	 
	 Section 9.04
	 	 Taxes On Conversion
	  	 	36	 
	 Section 9.05
	 	 Company to Provide Common Stock
	  	 	36	 
	 Section 9.06
	 	 Adjustment Of Conversion Rate
	  	 	36	 
	 Section 9.07
	 	 No Adjustment
	  	 	44	 
	 Section 9.08
	 	 Other Adjustments
	  	 	45	 
	 Section 9.09
	 	 Adjustments For Tax Purposes
	  	 	45	 
	 Section 9.10
	 	 Notice Of Adjustment
	  	 	45	 
	 Section 9.11
	 	 Notice Of Certain Transactions
	  	 	45	 
	 Section 9.12
	 	 Effect Of Reclassifications, Consolidations, Mergers, Binding Share Exchanges Or Sales On
Conversion Privilege
	  	 	46	 
	 Section 9.13
	 	 Trustee’s Disclaimer
	  	 	48	 
	 Section 9.14
	 	 Rights Distributions Pursuant To Shareholders’ Rights Plans
	  	 	48	 
	 Section 9.15
	 	 Increased Conversion Rate Applicable To Certain Notes Surrendered In Connection With Make-Whole
Fundamental Changes
	  	 	48	 
		
	 ARTICLE 10 MISCELLANEOUS
	  	 	51	 
			
	 Section 10.01
	 	 Trust Indenture Act Controls
	  	 	51	 
	 Section 10.02
	 	 Notices
	  	 	51	 
	 Section 10.03
	 	 Communication by Holders with Other Holders
	  	 	52	 
	 Section 10.04
	 	 Separability Clause
	  	 	52	 
	 Section 10.05
	 	 Rules by Trustee, Paying Agent, Conversion Agent and Registrar
	  	 	52	 
	 Section 10.06
	 	 Execution as Supplemental Indenture
	  	 	52	 
	 Section 10.07
	 	 Responsibility for Recitals, Etc.
	  	 	52	 
	 Section 10.08
	 	 Governing Law
	  	 	53	 
	 Section 10.09
	 	 Counterparts
	  	 	53	 
	 Section 10.10
	 	 Tax Matters
	  	 	53	 

  
 - ii - 

 Exhibits: 
  

			
		
	Exhibit A –	 	Form of Global Note
		
	Exhibit B –	 	Form of Certificated Note
		
	Exhibit C –	 	Form of Notice of Redemption
		
	Exhibit D –	 	Notice of Occurrence of Fundamental Change
		
	Exhibit E –	 	Form of Conversion Notice

  
 - iii - 

 SECOND SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), dated as of
March 20, 2018 between HELIX ENERGY SOLUTIONS GROUP, INC., a Minnesota corporation (the “Company”), and THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., a national banking association, as trustee (the
“Trustee”). 
 RECITALS 

WHEREAS, the Company has entered into an Indenture, dated as of November 1, 2016 (the “Base Indenture”), with the
Trustee; 
 WHEREAS, pursuant to Sections 2.01, 3.01 and 9.01(g) of the Base Indenture, the form and terms of a new series of Securities may
at any time be established by a supplemental indenture executed by the Company and the Trustee, without the consent of Holders; 
 WHEREAS,
the Base Indenture, as supplemented by this Supplemental Indenture, is herein called the “Indenture”; 
 WHEREAS, the
Company proposes to create under the Indenture a new series of Securities; 
 WHEREAS, the Company has requested and hereby requests that
the Trustee execute and deliver this Supplemental Indenture and the Company has provided the Trustee with a Board Resolution authorizing the execution of and approving this Supplemental Indenture; 

WHEREAS, all conditions necessary to authorize the execution and delivery of this Supplemental Indenture and to make it a valid and binding
obligation of the Company have been done or performed; and 
 WHEREAS, pursuant to Section 9.01 of the Base Indenture, the Trustee is
authorized to execute and deliver this Supplemental Indenture; 
 NOW, THEREFORE, for and in consideration of the agreements and obligations
set forth herein and for other good and valuable consideration the sufficiency of which is hereby acknowledged, each party agrees as follows for the benefit of the other party and for the equal and ratable benefit of the Holders (as defined below),
as follows: 
 ARTICLE 1 

ESTABLISHMENT OF NEW SERIES 

Section 1.01    Establishment of New Series. 

(a)    There is hereby established a new series of Securities to be issued under the Indenture, designated as the
Company’s 4.125% Convertible Senior Notes Due 2023 (the “Notes”) 
 (b)    There are to be
authenticated and delivered $125,000,000 principal amount of Notes on the Issue Date, and from time to time thereafter, there may be authenticated and delivered an unlimited principal amount of Additional Notes. 

  
 - 1 - 

 (c)    The Notes shall be issued initially in the form of one or more Global
Notes in substantially the form attached as Exhibit A hereto. The Depositary with respect to the Notes shall be The Depository Trust Company. 

(d)    Each Note shall be dated the date of authentication hereof and shall bear interest as provided in paragraph 1 of
the form of Global Note attached as Exhibit A hereto. 
 (e)    If and to the extent that the provisions
of the Base Indenture are duplicative of, or in contradiction with, the provisions of this Supplemental Indenture, the provisions of this Supplemental Indenture shall govern. 

ARTICLE 2 
 DEFINITIONS
AND INCORPORATION BY REFERENCE 
 Section 2.01    Definitions. 

All capitalized terms used herein and not otherwise defined below shall have the meanings ascribed to them in the Base Indenture. The following
are additional definitions used in the Supplemental Indenture: 
 “Bid Solicitation Agent” means the agent of the Company
appointed to obtain quotations for the Notes as set forth under the definition of Trading Price. The Company will act as the initial Bid Solicitation Agent. The Company may, from time to time, change the Bid Solicitation Agent. 

“Capital Stock” for any corporation means any and all shares, interests, rights to purchase, warrants, options,
participations or other equivalents of or interests in (however designated) stock issued by that corporation. 
 “Certificated
Notes” means Notes that are in the form of the Notes attached hereto as Exhibit B. 
 “Change of
Control” shall be deemed to have occurred at such time as: 
 (1)    any “person” or
“group” (as such terms are used in Sections 13(d) and 14(d) of the Exchange Act) other than the Company, its wholly owned Subsidiaries and its and their employee benefit plans, files a Schedule TO or any schedule, form or report with the
SEC that discloses that such person or group has become the “beneficial owner” (as such term is used in Rule 13d-3 under the Exchange Act), directly or indirectly, of fifty percent (50%) or more of
the Company’s Voting Stock; 
 (2)    (a) there occurs a sale, transfer, lease, conveyance or other disposition of
all or substantially all of the consolidated property or assets of the Company to any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Exchange Act), including any group acting for the purpose of
acquiring, holding, voting or disposing of securities within the meaning of Rule 13d-5(b)(1) under the Exchange Act, other than one of the Company’s wholly owned Subsidiaries; or (b) the Company
consolidates with, or merges, or combines pursuant to a binding statutory share exchange, with or into, another Person or any Person consolidates with, 

  
 - 2 - 

 
or merges, or combines pursuant to a binding statutory share exchange, with or into, the Company, or any other transaction or series of transactions (other than changes resulting solely from a
subdivision or combination of the outstanding Common Stock) occurs pursuant to which the Common Stock would be converted into or exchanged for, or would constitute solely the right to receive, cash, securities or other property, including any
combination thereof; provided, however, that (i) a transaction described in clause (b) above in which the Persons that “beneficially owned” (as such term is used in Rule 13d-3
under the Exchange Act), directly or indirectly, the shares of the Company’s Voting Stock immediately prior to such transaction, “beneficially own,” directly or indirectly, immediately after such a consolidation, merger or binding
statutory share exchange, shares of the surviving or continuing corporation’s Voting Stock representing at least a majority of the total outstanding voting power of all outstanding classes of the Voting Stock of the surviving or continuing
corporation (or its parent entity) in substantially the same proportion as such ownership immediately prior to such a consolidation, merger or binding statutory share exchange will not constitute a Change of Control pursuant to this clause (2) (such
a consolidation, merger, combination or binding statutory share exchange described in this proviso, a “Non-Ownership Change of Control”); and (ii) a transaction described in clause
(b) above that is effected solely to change the jurisdiction of the Company’s organization and that satisfies the proviso immediately following paragraph (3) below will not constitute a Change of Control pursuant to this clause (2);
or 
 (3)    The company is liquidated or dissolved or holders of the Company’s Capital Stock approve any plan or
proposal for the Company’s liquidation or dissolution; 
 provided, however, that a transaction or event described in clauses (1) or
(2) above will not constitute a Change of Control (and for the avoidance of doubt, the Company is not required to deliver the notice incidental thereto) if at least 90% of the consideration received or to be received by the holders of the Common
Stock (excluding cash payments for fractional shares or pursuant to statutory dissenters’ or appraisal rights), in connection with such transaction or event, consists of common equity listed (or depositary receipts representing common equity,
which depositary receipts are listed) on any of The New York Stock Exchange, The NASDAQ Global Market or The NASDAQ Global Select Market (or any of their respective successors), or that will be so listed when issued or exchanged in connection with
such transaction or event, and such transaction or event constitutes a Common Stock Change Event whose Reference Property consists of such consideration. 

For the purposes of this definition, any transaction or event described in both clause (1) and in clause (2)(i) or (2)(ii) above will be
deemed to occur solely pursuant to clause (2) above. 
 The term “close of business” means 5:00 p.m. (New York City
time). 
 “Closing Sale Price” on any date means, as determined by the Company, the per share price of the referenced
security on such date, determined (i) on the basis of the closing per share sale price (or if no closing per share 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 prices per share and the average ask prices per share) on such date on the principal U.S. national or regional securities exchange on which the referenced security is listed; or (ii) if the referenced security is not listed on a
U.S. national or regional securities exchange, as reported by OTC Markets Group Inc. or a 

  
 - 3 - 

 
similar organization; provided, however, that in the absence of any such report or quotation, the closing sale price shall be the price determined by a nationally recognized
independent investment banking firm retained by the Company for such purpose as most accurately reflecting the per share price that a fully informed buyer, acting on his own accord, would pay to a fully informed seller, acting on his own accord in
an arms-length transaction, for a share of the referenced security. 
 “Code” means the Internal Revenue Code of 1986, as
amended from time to time. 
 “Common Stock” means the common stock, no par value, of the Company existing on the date of
the Indenture, subject to Section 9.12. 
 “Conversion Date” with respect to a Note means the date on which a Holder
satisfies all the requirements for such conversion specified in Section 9.02(a). 
 “Conversion Notice” means the
“Conversion Notice” attached to the Form of Note attached hereto as Exhibit E. 
 “Conversion
Price” as of any date means $1,000 divided by the Conversion Rate as of such date. 
 “Conversion Rate”
shall initially be 105.6133 shares of Common Stock per $1,000 principal amount of Notes, subject to adjustment as provided in Article 9. 

“Conversion Value” means, as of any Trading Day in the Security Measurement Period, the product of the Closing Sale Price of
the Common Stock and the Conversion Rate per $1,000 principal amount of Notes in effect on such Trading Day. 
 “Conversion Trigger
Price” means, as of any date of determination, the dollar amount derived by multiplying the Conversion Price in effect on such date by 130%. 

“Daily Conversion Value” shall mean, for each of the forty (40) consecutive VWAP Trading Days in the Observation Period,
one fortieth (1/40th) of the product of (i) the Conversion Rate in effect on such VWAP Trading Day and (ii) the Volume-Weighted Average Price per share of Common Stock on such VWAP Trading Day. 

“Daily Settlement Amount” per $1,000 principal amount of Notes to be converted will consist of the following for each of the
forty (40) consecutive VWAP Trading Days in the relevant Observation Period: (x) cash equal to the lesser of (i) the applicable Specified Cash Amount per $1,000 principal amount, divided by forty (40) (such quotient being
referred to as the “Daily Measurement Value”) and (ii) the Daily Conversion Value for such VWAP Trading Day; and (y) to the extent such Daily Conversion Value for such VWAP Trading Day exceeds such Daily Measurement Value,
a number of shares of Common Stock equal to (i) the difference between such Daily Conversion Value and such Daily Measurement Value, divided by (ii) the Volume-Weighted Average Price of the Common Stock on such VWAP Trading Day.

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

  
 - 4 - 

 “Default Settlement Method” means Physical Settlement. The Company may, from
time to time, change the Default Settlement Method to any Settlement Method that the Company is then permitted to elect, by sending notice of the New Default Settlement Method to the Holders and the Trustee. 

“Ex-Dividend Date” means (i) when used with respect to any issuance or distribution, means the first date on
which the shares of Common Stock trade the regular way on the relevant exchange or in the relevant market from which the Closing Sale Price of the Common Stock was obtained without the right to receive such issuance or distribution from the Company
or, if applicable, from the seller of Common Stock on such exchange or market (in the form of due bills or otherwise) as determined by such exchange or market, (ii) when used with respect to any subdivision or combination of Common Stock, means
the first date on which the shares of Common Stock trade the regular way on such exchange or in such market after the time at which such subdivision or combination becomes effective and (iii) when used with respect to any tender offer or
exchange offer means the first date on which the shares of Common Stock trade the regular way on such exchange or in such market after the expiration time of such tender offer or exchange offer (as it may be amended or extended). For purposes of
determining the Ex-Dividend Date with respect to an issuance or distribution under this Supplemental Indenture, unless it has knowledge to the contrary, the Company may conclusively assume (and such assumption
shall be binding upon the Holders) that purchases and sales of the relevant security with respect to which such issuance or distribution is being made will settle based on the customary settlement cycle for purchases or sales of such security. 

“Fair Market Value” or “fair market value” means the amount that a willing buyer would pay a willing seller
in an arm’s-length transaction. 
 “Fundamental Change” means either a Change
of Control or a Termination of Trading. 
 “Global Note” means a permanent Global Note in the form of the Note attached
hereto as Exhibit A, and that is deposited with and registered in the name of the Depositary. 
 “Holder” or
“Securityholder” means a person in whose name a Note is registered on the Registrar’s books. 
 “Holder
Repurchase Notice” means a notice from Holders delivered pursuant to Section 4.07. 
 “Indenture” shall have
the meaning stated in the Recitals, as amended or supplemented from time to time in accordance with the terms thereof, including the provisions of the TIA that are deemed to be a part thereof. 

“Interest” means interest payable on each Note pursuant to Section 1 of the Notes. 

“Interest Payment Date” means March 15 and September 15 of each year, commencing September 15, 2018 (or such
other date as may be set forth in the certificate representing the applicable Note). 
 “Interest Record Date” means
March 1 and September 1 of each year. 

  
 - 5 - 

 “Issue Date” of any Note means the date on which the Note was originally issued
or deemed issued as set forth on the face of the Note. 
 “Make-Whole Premium” means, in respect of any Notes called for a
Conversion Price Trigger Redemption, the amount equal to the present value of the remaining scheduled payments of Interest that would have been made on such Notes to be redeemed had such Notes remained outstanding from the relevant Redemption Date
to the Stated Maturity (excluding interest accrued to, but excluding, such Redemption Date, which shall otherwise be payable pursuant to clause (ii) of the definition of Conversion Price Trigger Redemption Price set forth in Section 4.01),
with such present value of the remaining Interest payments computed using a discount rate per annum equal to the Reference Discount Rate plus 50 basis points. 

“Market Disruption Event” means, with respect to a referenced security on any date such reference security is listed for
trading or quotation on or by any exchange, bureau or other organization, the occurrence or existence, during the one-half hour period ending at the scheduled close of trading on such date on the principal
U.S. national or regional securities exchange or other market on which such referenced security is listed for trading or trades, of any material suspension or limitation imposed on trading (by reason of movements in price exceeding limits permitted
by the relevant exchange or otherwise) in such referenced security or in any options, contracts or futures contracts relating to such referenced security. 

“Notes” means any of the Company’s 4.125% Convertible Senior Notes due 2023, as amended or supplemented from time to
time, issued under the Indenture. 
 “NYSE” means The New York Stock Exchange, Inc. 

“Observation Period” shall mean, (i) subject to the immediately following clause (ii), with respect to any Conversion
Date occurring on or after the forty-fifth (45th) Scheduled Trading Day immediately preceding the Stated Maturity, the forty (40) consecutive VWAP Trading Day period beginning on, and including, the forty-second (42nd) Scheduled Trading Day
immediately before the Stated Maturity; (ii) with respect to any Conversion Date for a Note occurring on or after the date the Company has sent a redemption notice calling such Note for redemption and before the related Redemption Date, the
forty (40) consecutive VWAP Trading Days beginning on, and including, the forty-second (42nd) Scheduled Trading Day immediately before such Redemption Date; or (ii) in all other cases, the forty (40) consecutive VWAP Trading Day
period beginning on, and including, the third (3rd) VWAP Trading Day immediately following the relevant Conversion Date. 

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

“Record Date” shall mean, with respect to any dividend, distribution or other transaction or event in which the holders of
Common Stock have the right to receive any cash, securities or other property or in which the Common Stock (or other applicable security) is exchanged for or converted into any combination of cash, securities or other property, the date fixed for
determination of stockholders entitled to receive such cash, securities or other property (whether such date is fixed by the Board of Directors or by statute, contract or otherwise). 

  
 - 6 - 

 “Redemption Date” means the date specified in a notice of redemption on which
the Notes may be redeemed in accordance with the terms of the Notes and the Indenture. 
 “Reference Discount Rate” means,
in respect of any Make-Whole Premium, the yield to maturity of United States Treasury securities with a constant maturity (as compiled and published in the most recent Federal Reserve Statistical Release H.15 (519) that has become publicly available
at least two (2) Business Days prior to the relevant Redemption Date (or, if such Statistical Release is no longer published, any publicly available source of similar market data)) most nearly equal to the period from such Redemption Date to
the Stated Maturity; provided, however, that if the period from such Redemption Date to the Stated Maturity is less than one year, the weekly average yield on actively traded United States Treasury securities adjusted to a constant
maturity of one year will be used. Any such Reference Discount Rate shall be obtained by the Company. 
 “Register” and
“Registrar” with respect to the Notes, refer to and have the meanings of, “Security Register” and “Security Registrar” respectively, in the Base Indenture. 

“Relevant Exchange” means the NYSE or, if the Common Stock is not then listed on the NYSE, the principal U.S. national or
regional securities exchange on which the Common Stock is listed for trading. 
 “Scheduled Trading Day” means a day that
is scheduled to be a Trading Day on the primary United States national securities exchange or market on which the Common Stock is listed or admitted for trading. If the Common Stock is not so listed or admitted for trading, “Scheduled
Trading Day” shall mean any Business Day. 
 “SEC” means the Securities and Exchange Commission. 

“Securityholder” or “Holder” means a person in whose name a Note is registered on the Registrar’s
books. 
 “Settlement Method” means Physical Settlement, Cash Settlement or Combination Settlement, as applicable. 

“Special Interest” means any interest that accrues on any Note pursuant to Section 7.04. 

“Specified Cash Amount” means, with respect to the conversion of a Note to which Combination Settlement applies, the maximum
cash amount per $1,000 principal amount of such Note deliverable upon such conversion (excluding cash in lieu of any fractional share of Common Stock). 

“Stated Maturity,” when used with respect to any Note, means September 15, 2023. 

  
 - 7 - 

 “Subsidiary” means any person of which at least a majority of the outstanding
Voting Stock shall at the time directly or indirectly be owned or controlled by the Company or by one or more Subsidiaries or by the Company and one or more Subsidiaries. 

“Termination of Trading” shall be deemed to occur if shares of Common Stock are not listed for trading on the NYSE, The
NASDAQ Global Select Market or The NASDAQ Global Market (or any of their respective successors). 
 “TIA” means the Trust
Indenture Act of 1939 as in effect on the date of the Indenture, provided, however, that in the event the TIA is amended after such date, TIA means, to the extent required by any such amendment, the TIA as so amended. 

“Trading Day” means, with respect to the referenced security, a day during which (i) trading in the referenced security
generally occurs on the principal U.S. national or regional securities exchange on which the referenced security is then listed or, if the referenced security is not then listed on a U.S. national or regional securities exchange, on the principal
other market on which the referenced security is then traded and (ii) a Market Disruption Event has not occurred; provided, however, that if the referenced security is not listed for trading or quotation on or by any exchange,
bureau or other organization, “Trading Day” shall mean any Business Day. 
 “Trading Price” means, as of
any Trading Day, the average of the secondary market bid quotations obtained by the Bid Solicitation Agent for $2.0 million principal amount of Notes at approximately 3:30 p.m. (New York City time) on such Trading Day from three independent
nationally recognized securities dealers the Company selects; provided that if the Bid Solicitation Agent can reasonably obtain only two such bids, then the average of such two bids shall instead be used, and if the Bid Solicitation Agent can
reasonably obtain only one such bid, then such single bid shall be used; and provided, further, that if, on any Trading Day, the Bid Solicitation Agent cannot reasonably obtain at least one bid for $2.0 million principal amount of
the Notes from an independent nationally recognized securities dealer, then the Trading Price per $1,000 principal amount of the Notes shall be deemed to be less than 97% of the Conversion Value of the Notes on such Trading Day. 

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

“Volume-Weighted Average Price” per share of Common Stock on any VWAP Trading Day means such price as displayed on Bloomberg
(or any successor service) page “HLX <equity> AQR” in respect of the period from the scheduled open of trading until the scheduled close of trading of the primary trading session on such VWAP Trading Day, or, if such price is not
available, the market value per share of Common Stock on such VWAP Trading Day as determined, using a volume-weighted average price method, by a nationally recognized investment banking firm retained for this purpose by the Company. 

  
 - 8 - 

 “Voting Stock” of a Person means common equity of such Person of the class or
classes pursuant to which the holders thereof have the general voting power under ordinary circumstances to elect at least a majority of the board of directors, managers or trustees of such Person (irrespective of whether or not at the time common
equity of any other class or classes shall have or might have voting power by reason of the happening of any contingency). 
 “VWAP
Market Disruption Event” means, with respect to any date, (i) the failure by the principal 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, the principal other market on which the Common Stock is then traded, to open for trading during its regular trading session on such date; or (ii) the occurrence or existence, for more than one half-hour
period in the aggregate, of any suspension or limitation imposed on trading (by reason of movements in price exceeding limits permitted by the Relevant Exchange or otherwise) in the Common Stock or in any options, contracts or futures contracts
relating to the Common Stock, and such suspension or limitation occurs or exists at any time before 1:00 p.m. (New York City time) on such date. 

“VWAP Trading Day” means a day on which (i) there is no VWAP Market Disruption Event; and (ii) trading in the
Common Stock generally occurs on the principal U.S. national or regional securities exchange on which the Common Stock is then listed or, if the Common Stock is not then listed on a U.S. national or regional securities exchange, on the principal
other market on which the Common Stock is then traded. If the Common Stock is not so listed or traded, then “VWAP Trading Day” means a Business Day. 

Section 2.02    Other Definitions. 

 

					
	Term:	  	Defined in
Section:	 
	 “1% Provision”
	  	 	Section 9.07	 
	 “Applicable Price”
	  	 	Section 9.15	(d) 
	 “Bankruptcy Law”
	  	 	Section 7.01	(g) 
	 “cash”
	  	 	Section 4.01	 
	 “Cash Settlement”
	  	 	Section 9.02	(a) 
	 “Combination Settlement”
	  	 	Section 9.02	(a) 
	 “Common Stock Change Event”
	  	 	Section 9.12	 
	 “Conversion Agent”
	  	 	Section 3.03	 
	 “Conversion Price Trigger Redemption”
	  	 	Section 4.01	 
	 “Conversion Price Trigger Redemption Price”
	  	 	Section 4.01	 
	 “Depositary”
	  	 	Section 3.01	(b) 
	 “Distributed Assets”
	  	 	Section 9.06	(c)(i) 
	 “DTC”
	  	 	Section 3.01	(b) 
	 “Effective Date”
	  	 	Section 9.15	(a) 
	 “Event of Default”
	  	 	Section 7.01	 
	 “Expiration Time”
	  	 	Section 9.06	(e) 
	 “Fundamental Change Repurchase Date”
	  	 	Section 4.07	(a) 
	 “Fundamental Change Repurchase Notice”
	  	 	Section 4.07	(b) 
	 “Fundamental Change Repurchase Price”
	  	 	Section 4.07	(a) 

  
 - 9 - 

					
	 “Fundamental Change Repurchase Right”
	  	 	Section 4.07	(a) 
	 “Make-Whole Fundamental Change”
	  	 	Section 9.15	(a) 
	 “Make-Whole Applicable Increase”
	  	 	Section 9.15	(b) 
	 “Make-Whole Conversion Period”
	  	 	Section 9.15	(a) 
	 “Maximum Conversion Rate”
	  	 	Section 9.15	(b)(v) 
	 “Notice of Default”
	  	 	Section 7.01	(h) 
	 “Physical Settlement”
	  	 	Section 9.02	(a) 
	 “Reference Price”
	  	 	Section 9.06	(e) 
	 “Reference Property”
	  	 	Section 9.12	 
	 “Reference Property Unit”
	  	 	Section 9.12	 
	 “Repurchase Upon Fundamental Change”
	  	 	Section 4.07	(a) 
	 “Security Measurement Period”
	  	 	Section 9.01	(b)(ii) 
	 “Spin-Off”
	  	 	Section 9.06	(c)(ii) 
	 “Spin-Off Valuation Period”
	  	 	Section 9.06	(c)(ii) 
	 “Successor Person”
	  	 	Section 6.01	(a) 
	 “Tender/Exchange Offer Valuation Period”
	  	 	Section 9.06	(e) 
	 “Trading Price Condition”
	  	 	Section 9.01	(b)(ii) 

 Section 2.03    Incorporation by Reference of Trust Indenture
Act. Whenever the Indenture refers to a provision of the TIA, the provision is incorporated by reference in and made a part of the Indenture. The following TIA terms used in the Indenture have the following meanings:

 “Commission” means the SEC. 

The term “indenture securities” means the Notes. 

The term “indenture security holder” means a Securityholder. 

The term “indenture to be qualified” means the Indenture. 

The term “indenture trustee” or “institutional trustee” means the Trustee. 

The term “obligor” on the indenture securities means the Company. 

All other TIA terms used in the Indenture that are defined by the TIA, defined by TIA reference to another statute or defined by SEC rules
have the meanings assigned to them by such definitions. 
 Section 2.04    Rules of
Construction. Unless the context otherwise requires: 
 (1)    a term has the meaning
assigned to it; 
 (2)    an accounting term not otherwise defined has the meaning assigned to it in accordance with
generally accepted accounting principles as in effect from time to time; 
 (3)    “or” is not exclusive; 

  
 - 10 - 

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

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

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

(7)    references to Sections, Articles and Exhibits are to references to Sections, Articles and Exhibits of this
Supplemental Indenture. 
 ARTICLE 3 

THE NOTES 

Section 3.01    Form and Dating. 

(a)    Certificate of Authentication. The Notes and the Trustee’s certificate of authentication shall be
substantially in the form of Exhibit A and Exhibit B, which are a part of the Indenture. 

(b)    Global Notes in General. All of the Notes shall be issued initially in the form of one or more Global Notes,
which shall be deposited on behalf of the purchasers of the Notes represented thereby with the Trustee, at its Corporate Trust Office, as custodian for the depositary, The Depository Trust Company (“DTC”) (such depositary, or any
successor thereto, being hereinafter referred to as the “Depositary”), and registered in the name of its nominee, Cede & Co., duly executed by the Company and authenticated by the Trustee as hereinafter provided. 

Each Global Note shall represent such of the outstanding Notes as shall be specified therein and each shall provide that it shall represent
the aggregate amount of outstanding Notes from time to time endorsed thereon and that the aggregate amount of outstanding Notes represented thereby may from time to time be reduced or increased, as appropriate, to reflect exchanges, redemptions,
repurchases and conversions. 
 Any adjustment of the aggregate principal amount of a Global Note to reflect the amount of any increase or
decrease in the amount of outstanding Notes represented thereby shall be made by the Trustee in accordance with instructions given by the Holder thereof as required by Section 3.05 of the Base Indenture, and shall be made on the records of the
Trustee and the Depositary. 
 (c)    Book-Entry Provisions. This Section 3.01(c) shall apply only to Global
Notes deposited with or on behalf of the Depositary. 
 The Company shall execute and the Trustee shall, in accordance with this
Section 3.01(c), authenticate and deliver initially one or more Global Notes that (a) shall be registered in the name of the Depositary or a nominee thereof, (b) shall be delivered by the Trustee to the Depositary or held by the
Trustee pursuant to the Depositary’s instructions and (c) shall be substantially in the form of Exhibit A attached hereto. 

  
 - 11 - 

 (d)    Certificated Notes. Notes not issued as interests in the
Global Notes shall be issued in certificated form substantially in the form of Exhibit B attached hereto. 

Section 3.02    Execution and Authentication. The Notes shall be executed and signed on
behalf of the Company in accordance with Section 3.03 of the Base Indenture. 
 The Trustee shall authenticate and deliver the Notes
for original issue in an aggregate principal amount of up to $125,000,000 upon one or more Company Orders without any further action by the Company (other than as contemplated in Section 3.05 of the Base Indenture). The aggregate principal
amount of the Notes due at the Stated Maturity thereof outstanding at any time may not exceed the amount set forth in the foregoing sentence. 

The Notes shall be issued only in registered form without coupons and only in denominations of $1,000 of principal amount and any integral
multiple of $1,000. 
 The Company may, from time to time, without notice to or the consent of the Holders, reopen the Indenture and issue
additional Notes with the same terms (subject to certain exceptions) as the Notes in an unlimited aggregate principal amount, provided that if the additional Notes are not fungible with the Notes offered hereby for United States Federal
income tax purposes, then they must be issued with a different CUSIP number. The Notes and any such additional Notes would be treated as a single class for all purposes under the Indenture and would vote together as one class on all matters with
respect to the Notes. 
 Section 3.03    Conversion Agent. The Company shall maintain
an office or agency where Notes may be presented for conversion (“Conversion Agent”). 
 The Company shall enter into an
appropriate agency agreement with any Conversion Agent. The agreement shall implement the provisions of the Indenture that relate to such agent. The Company shall promptly notify the Trustee of the name and address of any such agent. If the Company
fails to maintain a Conversion Agent, the Trustee shall act as such and shall be entitled to appropriate compensation therefor pursuant to Section 6.07 of the Base Indenture. The Company or any Subsidiary or an Affiliate of either of them may
act as Conversion Agent. 
 The Company initially appoints the Trustee as Conversion Agent in connection with the Notes. 

Section 3.04    Debt Tax Treatment. The Company, and each Holder and beneficial owner of
a Note, agree to treat the Notes as indebtedness for United States federal income tax purposes. 
 ARTICLE 4 

REDEMPTION AND REPURCHASES 

Section 4.01    Company’s Right to Redeem; Notices to Trustee.
Prior to March 15, 2021, the Notes shall not be redeemable at the Company’s option. The Company, at its option, 

  
 - 12 - 

 
may redeem (a “Conversion Price Trigger Redemption”) the Notes for U.S. legal tender (“cash”) at any time, in whole or in part, on a Redemption Date that occurs
on or after March 15, 2021 if the Closing Sale Price of the Common Stock has been at least 130% of the Conversion Price then in effect on (x) the Trading Day immediately preceding the date on which the Company provides a notice of
redemption under Section 4.03 and (y) for at least 20 Trading Days (whether or not consecutive) during any 30 consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the date on which the Company
provides a notice of redemption in accordance with Section 4.03. The redemption price for each $1,000 principal amount of Notes to be redeemed (the “Conversion Price Trigger Redemption Price”) shall be payable in cash and shall
be equal to the sum of (i) 100% of the principal amount of the Notes to be redeemed, plus (ii) accrued and unpaid interest, if any, to, but excluding, the Redemption Date, plus (iii) the Make-Whole Premium. The Company must make these
Make-Whole Premium payments on all Notes called for redemption prior to the Stated Maturity, including Notes subject to redemption that are converted after the date the Company delivered a notice of redemption. 

If the Redemption Date occurs after an Interest Record Date and on or prior to the immediately succeeding Interest Payment Date
(i) accrued and unpaid interest shall be paid on such Interest Payment Date to the record holder on the relevant Interest Record Date, (ii) the Conversion Price Trigger Redemption Price will not include any accrued and unpaid interest, and
(iii) the Make-Whole Premium shall equal the present value of all remaining scheduled payments of interest on such Notes, starting with the next Interest Payment Date for which interest has not been provided for (but otherwise calculated as set
forth in the definition of Make-Whole Premium). The Trustee shall have no duty to determine or calculate the Make-Whole Premium, which shall be determined by the Company in accordance with the provisions of the Indenture, and the Trustee shall not
be under any responsibility to determine the correctness of any such determination and/or calculation and may conclusively rely on the correctness thereof. 

If the Company elects to redeem Notes pursuant to this Section 4.01, it shall notify the Trustee in writing of such election together
with the Redemption Date, the Conversion Rate, the principal amount of Notes to be redeemed and the Conversion Price Trigger Redemption Price. Notwithstanding the foregoing, the Company may not redeem any Notes if the principal amount of the Notes
has been accelerated and such acceleration has not been rescinded on or before the Redemption Date (including as a result of the payment of the related Conversion Price Trigger Redemption Price and any related Interest set forth above on the
Redemption Date). 
 The Company shall give the notice to the Trustee provided for in this Section 4.01 by a Company Order, at least 30
days before the Redemption Date (unless a shorter notice shall be satisfactory to the Trustee). 

Section 4.02    Selection of Notes to Be Redeemed. If less than all of the Notes are to
be redeemed, unless the procedures of the Depositary provide otherwise, the Trustee shall select the Notes to be redeemed by lot, on a pro rata basis or by another method the Trustee considers fair and appropriate (so long as such method is not
prohibited by the rules of any stock exchange or quotation association on which the Notes are then traded or quoted). The Trustee may select for redemption portions of the principal amount of Notes that have denominations larger than $1,000. 

  
 - 13 - 

 Notes and portions of Notes that the Trustee selects shall be in principal amounts of $1,000 or
an integral multiple of $1,000. Provisions of the Indenture that apply to Notes called for redemption also apply to portions of Notes called for redemption. The Trustee shall notify the Company promptly (but in any case within 7 days of the Company
Order referred to in Section 4.01) of the Notes or portions of the Notes selected to be redeemed and, in the case of any Notes selected for partial redemption, the method it has chosen for the selection of the Note. 

Following a notice of redemption, Notes and portions of Notes are convertible, pursuant to Section 9.01(a)(ii), by the Holder until the
close of business on the second Business Day prior to the Redemption Date, unless the Company fails to pay the Conversion Price Trigger Redemption Price. If any Note selected for partial redemption is converted in part before termination of the
conversion right with respect to the portion of the Note so selected, the converted portion of such Note shall be deemed (so far as may be) to be the portion selected for redemption. Notes that have been converted during a selection of Notes to be
redeemed may be treated by the Trustee as outstanding for the purpose of such selection. 

Section 4.03    Notice of Redemption. The Company shall send a notice of redemption
(substantially in the form of Exhibit C) to each Holder of Notes to be redeemed at least forty-five (45), but no more than sixty-five (65), Scheduled Trading Days before the related Redemption Date. 

The notice shall identify the Notes to be redeemed and shall state (along with any other information the Company wishes to include): 

(1)    the Redemption Date; 

(2)    the Conversion Price Trigger Redemption Price; 

(3)    the Conversion Rate; 

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

(5)    that Notes may be converted at any time before the close of business on the second Business Day prior to the
Redemption Date, unless the Company fails to pay the Conversion Price Trigger Redemption Price; 
 (6)    that Notes
called for redemption and not converted shall be redeemed on the Redemption Date; 
 (7)    that Holders who want to
convert their Notes must satisfy the requirements set forth in the Notes; 
 (8)    that Notes called for redemption
must be surrendered to the Paying Agent (by effecting book entry transfer of the Notes or delivering Certificated Notes, together with necessary endorsements, as the case may be) to collect the Conversion Price Trigger Redemption Price; 

  
 - 14 - 

 (9)    if fewer than all of the outstanding Notes are to be redeemed, the
certificate numbers, if any, and principal amounts of the particular Notes to be redeemed; 
 (10)    that, unless the
Company defaults in making payment of such Conversion Price Trigger Redemption Price and Interest, the Notes called for redemption shall cease to accrue from and after the Redemption Date; and 

(11)    the “CUSIP,” “ISIN” or other similar number(s), as the case may be, of the Notes being
redeemed. 
 At the Company’s request, the Trustee shall give the notice of redemption in the Company’s name and at the
Company’s expense, provided that the Company makes such request at least seven Business Days (or such shorter period as may be satisfactory to the Trustee) prior to the date by which such notice of redemption must be given to Holders in
accordance with this Section 4.03. 
 Section 4.04    Effect of Notice of Redemption.
Once notice of redemption is given, Notes called for redemption become due and payable on the Redemption Date and at the Conversion Price Trigger Redemption Price stated in the notice of redemption except for Notes that are converted in accordance
with the terms of the Indenture. Upon surrender to the Paying Agent, such Notes shall be paid at the Conversion Price Trigger Redemption Price stated in the notice of redemption and from and after the Redemption Date (unless the Company shall
default in the payment of the Conversion Price Trigger Redemption Price) such Notes shall cease to bear Interest (other than as set forth in clause (i) of the second paragraph of Section 4.01), and the rights of the Holders therein shall
terminate (other than the right to receive the Conversion Price Trigger Redemption Price). 

Section 4.05    Deposit of Conversion Price Trigger Redemption Price. Prior to 10:00 a.m.
(New York City time), on the Redemption Date, the Company shall deposit with the Paying Agent (or if the Company or a Subsidiary or an Affiliate of either of them is the Paying Agent, shall segregate and hold in trust) money sufficient to pay the
Conversion Price Trigger Redemption Price of all Notes to be redeemed on that date other than Notes or portions of Notes called for redemption that 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 Notes pursuant to Article 9. If such money is then held by the Company or a Subsidiary or an
Affiliate of either of them in trust and is not required for such purpose it shall be discharged from such trust. 

Section 4.06    Notes Redeemed in Part. Upon surrender of a Note that is redeemed in part, the
Company shall execute and the Trustee shall, without charge, authenticate and deliver to the Holder a new Note in an authorized denomination equal in principal amount to the unredeemed portion of the Note surrendered. 

  
 - 15 - 

 Section 4.07    Repurchase of Notes at Option of the Holder
Upon a Fundamental Change. 
 (a)    If a Fundamental Change occurs, each Holder shall have the right (the
“Fundamental Change Repurchase Right”), at such Holder’s option, to require the Company to repurchase (a “Repurchase Upon Fundamental Change”) all of such Holder’s Notes (or portions thereof that are
integral multiples of $1,000 in principal amount), on a date selected by the Company (the “Fundamental Change Repurchase Date”), which shall be no later than 35 days, nor earlier than 20 days, after the date the Fundamental
Change Repurchase Notice is sent in accordance with Section 4.07(b), at a price, payable in cash, equal to 100% of the principal amount of the Notes (or portions thereof) to be so repurchased, plus, except as provided below, accrued and unpaid
Interest, if any, to, but excluding, the Fundamental Change Repurchase Date (the “Fundamental Change Repurchase Price”), upon (with respect to Certificated Notes): 

(i)    delivery to the Company (if it is acting as its own Paying Agent), or to a Paying Agent designated by the Company
for such purpose in the Fundamental Change Repurchase Notice, no later than the close of business on the second Business Day immediately preceding the Fundamental Change Repurchase Date, of a Holder Repurchase Notice, in the form set forth in the
Notes or any other form of written notice substantially similar thereto, in each case, duly completed and signed, with appropriate signature guarantee, stating: 

(A)    the certificate number(s) of the Notes that the Holder will deliver to be repurchased, if such Notes are
Certificated Notes; 
 (B)    the principal amount of Notes to be repurchased, which must be $1,000 or an integral
multiple thereof; and 
 (C)    that such principal amount of Notes are to be repurchased pursuant to the terms and
conditions specified in this Section 4.07; and 
 (ii)    delivery to the Company (if it is acting as its own
Paying Agent), or to a Paying Agent designated by the Company for such purpose in the Fundamental Change Repurchase Notice, at any time after the delivery of such Holder Repurchase Notice, of such Notes (together with all necessary endorsements)
with respect to which the Fundamental Change Repurchase Right is being exercised; 
 provided, however, that if such Fundamental Change
Repurchase Date is after an Interest Record Date and on or before the related Interest Payment Date, then the full amount of accrued and unpaid Interest, to, but excluding, such Interest Payment Date shall be paid on such Interest Payment Date to
the Holder of record of such Notes at the close of business on such Interest Record Date (without any surrender of such Notes by such Holder), and the Fundamental Change Repurchase Price shall not include any accrued but unpaid Interest. 

If such Notes are instead held in book-entry form through the Depositary, the delivery of any Holder Repurchase Notice, Fundamental Change
Repurchase Notice or notice of withdrawal pursuant to Section 4.07(b)(x) shall comply with applicable procedures of the Depositary no later than the close of business on the second (2nd) Business Day immediately preceding the Fundamental Change
Repurchase Date. 

  
 - 16 - 

 Upon such delivery of Notes to the Company (if it is acting as its own Paying Agent) or such
Paying Agent, such Holder shall be entitled to receive, upon request, from the Company or such Paying Agent, as the case may be, a nontransferable receipt of deposit evidencing such delivery. 

Notwithstanding anything herein to the contrary, any Holder that has delivered the Holder Repurchase Notice contemplated by this
Section 4.07(a) to the Company (if it is acting as its own Paying Agent) or to a Paying Agent designated by the Company for such purpose in the Fundamental Change Repurchase Notice shall have the right to withdraw such Holder Repurchase Notice
by delivery, at any time prior to the close of business on the second Business Day immediately preceding the Fundamental Change Repurchase Date, of a written notice of withdrawal to the Company (if acting as its own Paying Agent) or the Paying
Agent, which notice shall contain the information specified in Section 4.07(b)(x). 
 The Paying Agent shall promptly notify the
Company of the receipt by it of any Holder Repurchase Notice or written notice of withdrawal thereof. 
 (b)    Within
20 Business Days after the occurrence of a Fundamental Change, the Company shall send, or cause to be sent, to all Holders, and to beneficial owners as required by applicable law, a notice, substantially in the form of Exhibit D, (the
“Fundamental Change Repurchase Notice”) of the occurrence of such Fundamental Change and the Fundamental Change Repurchase Right arising as a result thereof. The Company shall deliver a copy of the Fundamental Change Repurchase
Notice to the Trustee and shall publicly release, through a reputable national newswire service, such Fundamental Change Repurchase Notice. Each Fundamental Change Repurchase Notice shall state: 

(i)    the events causing the Fundamental Change; 

(ii)    the date of such Fundamental Change; 

(iii)    the Fundamental Change Repurchase Date; 

(iv)    the last date on which the Fundamental Change Repurchase Right may be exercised, which shall be the second
Business Day immediately preceding the Fundamental Change Repurchase Date; 
 (v)    the Fundamental Change Repurchase
Price; 
 (vi)    the names and addresses of the Paying Agent and the Conversion Agent; 

(vii)    the procedures that a Holder must follow to exercise the Fundamental Change Repurchase Right; 

(viii)    that the Fundamental Change Repurchase Price for any Note as to which a Holder Repurchase Notice has been given
and not withdrawn will be paid as promptly as practicable, but in no event after the later of such Fundamental Change Repurchase Date and the time of book-entry transfer or delivery of the Note (together with
all necessary endorsements); provided, however, that if such Fundamental Change Repurchase Date is after a Record Date for 

  
 - 17 - 

 
the payment of an installment of Interest and on or before the related Interest Payment Date, then the accrued and unpaid Interest, if any, to, but excluding, such Interest Payment Date will be
paid on such Interest Payment Date to the Holder of record of such Note at the close of business on such Record Date (without any surrender of such Notes by such Holder) and the Fundamental Change Repurchase Price shall not include any accrued and
unpaid Interest; 
 (ix)    that, except as otherwise provided herein with respect to a Fundamental Change Repurchase
Date that is after a Record Date for the payment of an installment of Interest and on or before the related Interest Payment Date, on and after such Fundamental Change Repurchase Date (unless there shall be a Default in the payment of the
Fundamental Change Repurchase Price), Interest on Notes subject to Repurchase Upon Fundamental Change will cease to accrue (except as set forth in Section 4.07(a)), and all rights of the Holders of such Notes shall terminate, other than the
right to receive, in accordance herewith, the Fundamental Change Repurchase Price; 
 (x)    that a Holder will be
entitled to withdraw its election in the Holder Repurchase Notice prior to the close of business on the second Business Day immediately preceding the Fundamental Change Repurchase Date, or such longer period as may be required by law, by means of a
notice setting forth (I) the name of such Holder, (II) a statement that such Holder is withdrawing its election to have Notes purchased by the Company pursuant to a Repurchase Upon Fundamental Change, (III) the certificate number(s)
of such Notes to be so withdrawn, if such Notes are Certificated Notes, (IV) the principal amount of the Notes of such Holder to be so withdrawn, which amount must be $1,000 or an integral multiple thereof and (V) the principal amount, if
any, of the Notes of such Holder that remain subject to the Holder Repurchase Notice delivered by such Holder in accordance with this Section 4.07, which amount must be $1,000 or an integral multiple thereof; provided, however,
that if there shall be a Default in the payment of the Fundamental Change Repurchase Price, a Holder shall be entitled to withdraw its election in the Holder Repurchase Notice at any time during which such Default is continuing; 

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

(xii)    that Notes with respect to which a Holder Repurchase Notice is given by a Holder may be converted pursuant to
Article 9 only if such Holder Repurchase Notice has been withdrawn in accordance with this Section 4.07; and 

(xiii)    the CUSIP number or numbers, as the case may be, of the Notes. 

At the Company’s request, upon prior notice reasonably acceptable to the Trustee, the Trustee shall send such Fundamental Change
Repurchase Notice in the Company’s name and at the Company’s expense; provided, however, that the form and content of such Fundamental Change Repurchase Notice shall be prepared by the Company. 

No failure of the Company to give a Fundamental Change Repurchase Notice shall limit any Holder’s right pursuant hereto to exercise a
Fundamental Change Repurchase Right. 

  
 - 18 - 

 (c)    Subject to the provisions of this Section 4.07, the Company shall
pay, or cause to be paid, the Fundamental Change Repurchase Price with respect to each Note as to which the Fundamental Change Repurchase Right shall have been exercised to the Holder thereof no later than the later of the Fundamental Change
Repurchase Date and the time of book-entry transfer or when such Note is surrendered to the Paying Agent together (except in the case of a Global Security) with all necessary endorsements; provided, however, that if such Fundamental
Change Repurchase Date is after an Interest Record Date and on or before the related Interest Payment Date, then the accrued and unpaid Interest, if any, to, but excluding, such Interest Payment Date will be paid on such Interest Payment Date to the
Holder of record of such Note at the close of business on such Interest Record Date and the Fundamental Change Repurchase Price shall not include any accrued and unpaid Interest. 

(d)    The Company shall, in accordance with Section 4.09, deposit with a Paying Agent (or, if the Company is acting
as its own Paying Agent, segregate and hold in trust in accordance with Section 4.10) money, in funds immediately available on the Fundamental Change Repurchase Date, sufficient to pay the Fundamental Change Repurchase Price upon Repurchase
Upon Fundamental Change for all of the Notes that are to be repurchased by the Company on such Fundamental Change Repurchase Date pursuant to a Repurchase Upon Fundamental Change. The Paying Agent shall return to the Company, as soon as practicable,
any money not required for that purpose. 
 (e)    On and after the Fundamental Change Repurchase Date, if the Paying
Agent holds (or, if the Company or a Subsidiary or an Affiliate of either of them is acting as the Paying Agent, segregated money held in trust as provided in Section 10.03 of the Base Indenture) on the Fundamental Change Repurchase Date money
sufficient to pay the Fundamental Change Repurchase Price due on such Notes, then such Notes will cease to be outstanding and, except as otherwise provided herein with respect to a Fundamental Change Repurchase Date that is after a Record Date for
the payment of an installment of interest and on or before the related Interest Payment Date, such Notes shall cease to bear interest (whether or not book-entry transfer of the Notes has been made or the Notes have been delivered to the Paying
Agent), and all rights of the relevant Holders of such Notes shall terminate, other than the right to receive, in accordance herewith, the Fundamental Change Repurchase Price upon book-entry transfer or delivery of the Note (and, if such Fundamental
Change Repurchase Date is after an Interest Record Date and on or before the related Interest Payment Date, the right to receive accrued and unpaid Interest, if any, to, but excluding, such Interest Payment Date). 

(f)    Notes with respect to which a Holder Repurchase Notice has been duly delivered in accordance with this
Section 4.07 may be converted pursuant to Article 9 only if such Holder Repurchase Notice has been withdrawn in accordance with this Section 4.07. 

(g)    Subject to Section 4.07(e), if any Note shall not be paid upon book-entry transfer or surrender thereof for
Repurchase Upon Fundamental Change, the principal of, and accrued and unpaid Interest on, such Note shall, until paid, bear Interest, payable in cash, at the rate borne by such Note on the principal amount of such Note. 

(h)    Any Note that is to be submitted for Repurchase Upon Fundamental Change only in part shall be delivered pursuant to
this Section 4.07 (with, if the Company or the Trustee so 

  
 - 19 - 

 
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 its attorney duly authorized in
writing, with a medallion guarantee), and the Company shall promptly execute, and the Trustee shall promptly authenticate and make available for delivery to the Holder of such Note without service charge, a new Note or Notes, of any authorized
denomination as requested by such Holder, of the same tenor and in aggregate principal amount equal to the portion of such Note not duly submitted for Repurchase Upon Fundamental Change. 

(i)    Notwithstanding anything herein to the contrary, except in the case of an acceleration resulting from a Default by
the Company in the payment of the Fundamental Change Repurchase Price, there shall be no purchase of any Notes pursuant to this Section 4.07 on a Fundamental Change Repurchase Date if, on such date, the principal amount of the Notes shall have
been accelerated in accordance with the Indenture and such acceleration shall not have been rescinded on or before the Fundamental Change Repurchase Date (including as a result of the payment of the related Fundamental Change Repurchase Price and
any related Interest set forth in Section 4.07 on the Fundamental Change Repurchase Date). The Paying Agent will promptly return to the respective Holders thereof any Notes held by it during the continuance of such an acceleration. 

(j)    In connection with any Repurchase Upon Fundamental Change, the Company shall, to the extent applicable
(i) comply with all applicable tender offer rules under the Exchange Act, including Rule 13e-4 and Regulation 14E thereunder, and with all other applicable laws; (ii) file a Schedule TO or any other
schedules required under the Exchange Act or any other applicable laws; and (iii) otherwise comply with all applicable United States federal and state securities laws in connection with any offer by the Company to purchase the Notes. 

Section 4.08    Effect of Fundamental Change Repurchase Notice. 

(a)    Upon receipt by the Paying Agent of the Holder Repurchase Notice specified in Section 4.07, the Holder of the
Note in respect of which such Fundamental Change Repurchase Notice was given shall (unless such Holder Repurchase Notice is validly withdrawn) thereafter be entitled solely to receive the Fundamental Change Repurchase Price with respect to such Note
whether or not the Note is, in fact, properly delivered. Such Fundamental Change Repurchase Price shall be paid to such Holder, subject to receipt of funds and/or securities by the Paying Agent, promptly following the later of (x) the Business
Day following the Fundamental Change Repurchase Date with respect to such Note (provided the conditions in Section 4.07 have been satisfied) and (y) the time of delivery of such Note to the Paying Agent by the Holder thereof in the
manner required by Section 4.07. Notes in respect of which a Holder Repurchase Notice has been given by the Holder thereof may not be converted pursuant to and to the extent permitted by Article 9 hereof on or after the date of the delivery of
such Holder Repurchase Notice unless such Holder Repurchase Notice has first been validly withdrawn. 
 (b)    A Holder
Repurchase Notice may be withdrawn by means of a written notice of withdrawal delivered to the Paying Agent (or to the Company if it is acting as its own Paying Agent) at any time prior to the close of business on the second Business Day immediately
preceding the Fundamental Change Repurchase Date, specifying: 
 (i)    the name of the Holder, 

  
 - 20 - 

 (ii)    a statement that the Holder is withdrawing all or a portion of its
election with respect to the original Holder Repurchase Notice, 
 (iii)    the principal amount, if any, of such Note
that remains subject to the original Holder Repurchase Notice and that has been or shall be delivered for purchase by the Company, 

(iv)    if Certificated Notes have been issued, the certificate number, if any, of the Note in respect of which such
notice of withdrawal is being submitted (or, if Certificated Notes have not been issued, that such withdrawal notice shall comply with the appropriate Depositary procedures), and 

(v)    the principal amount of the Note with respect to which such notice of withdrawal is being submitted. 

Section 4.09    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 a Subsidiary or an Affiliate of either of them is acting as the Paying Agent, shall segregate and hold in trust as provided
in Section 10.03 of the Base Indenture) an amount of cash in immediately available funds sufficient to pay the aggregate Fundamental Change Repurchase Price of all the Notes or portions thereof that are to be purchased as of the Fundamental
Change Repurchase Date. 
 Section 4.10    Notes Purchased in Part. Any Certificated Note that
is to be purchased 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 the Company shall execute and the Trustee shall authenticate and deliver to the Holder of such Note, without service charge, a new Note or Notes, of any
authorized denomination as requested by such Holder in aggregate principal amount equal to, and in exchange for, the portion of the principal amount of the Note so surrendered that is not purchased. 

Section 4.11    Covenant to Comply with Securities Laws upon Purchase of Notes. When complying
with the provisions of Section 4.07 hereof (provided that such offer or purchase constitutes an “issuer tender offer” for purposes of Rule 13e-4 (which term, as used herein, includes any
successor provision thereto) under the Exchange Act at the time of such offer or purchase), and subject to any exemptions available under applicable law, the Company shall (i) comply with Rule 13e-4 and
Rule 14e-1 (or any successor provision) and any other applicable tender offer rules under the Exchange Act, (ii) file the related Schedule TO (or any successor schedule, form or report) under the Exchange
Act, and (iii) otherwise comply with all applicable federal and state securities laws so as to permit the rights and obligations under Section 4.07 to be exercised in the time and in the manner specified in Section 4.07.
Notwithstanding anything to the contrary herein, to the extent that compliance with Section 4.07 would result in a violation of any applicable federal or state securities laws or other applicable laws or regulations, the Company will comply
with the applicable securities laws and regulations and will not be deemed to have breached its obligations under Section 4.07 by virtue of the conflict. 

  
 - 21 - 

 Section 4.12    Repayment to the Company. The
Trustee and the Paying Agent shall return to the Company any cash that remains unclaimed as provided in Section 12 of the Notes, together with interest, if any, thereon (subject to the provisions of Section 6.06 of the Base Indenture),
held by them for the payment of the Fundamental Change Repurchase Price. 
 ARTICLE 5 

COVENANTS 

Section 5.01    Payment of Notes. The Company shall make all payments in respect of the Notes on
the dates and in the manner provided in the Notes or pursuant to the Indenture. Any amounts of cash in immediately available funds or shares of Common Stock to be given to the Trustee or Paying Agent shall be deposited with the Trustee or Paying
Agent by 10:00 a.m. (New York City time), by the Company. The principal amount of, and Interest on the Notes, and the Conversion Price Trigger Redemption Price and the Fundamental Change Repurchase Price shall be considered paid on the applicable
date due if on such date (which, in the case of a Fundamental Change Repurchase Price, shall be on the Business Day immediately following the Fundamental Change Repurchase Date) the Trustee or the Paying Agent holds, in accordance with the
Indenture, cash or securities, if permitted hereunder, sufficient to pay all such amounts then due. 

Section 5.02    Maintenance of Office or Agency. The Company shall maintain in the continental
United States an office or agency of the Conversion Agent where Notes may be surrendered for conversion. The Corporate Trust Office of the Trustee located in the continental United States shall initially be such office or agency for the aforesaid
purpose. 
 Section 5.03    Exchange Act Reports. The Company will send to the Trustee copies
of all reports that it is required to file with or furnish to the SEC pursuant to Section 13(a) or 15(d) of the Exchange Act within fifteen (15) calendar days after the date that the Company is required to so file or furnish the same
(after giving effect to all applicable grace periods under the Exchange Act). However, the Company need not send to the Trustee any material for which it has received, or is seeking in good faith and has not been denied, confidential treatment by
the SEC. Any report that the Company files with or furnishes to the SEC through the EDGAR system (or any successor thereto) will be deemed to be sent to the Trustee at the time such report is so filed or furnished via the EDGAR system (or such
successor). 
 ARTICLE 6 

SUCCESSOR PERSON 

Section 6.01    When Company May Merge or Transfer Assets. The Company shall not consolidate
with or merge with or into any other Person or convey, transfer, sell, lease or otherwise dispose of all or substantially all of its properties and assets to any Person, unless: 

(a)    the resulting, surviving or transferee person (the “Successor Person”) will be a corporation
organized and existing under the laws of the United States of America, any State 

  
 - 22 - 

 
thereof or the District of Columbia and the Successor Person (if not the Company) will expressly assume, by indenture supplemental hereto, executed and delivered to the Trustee, in form
reasonably satisfactory to the Trustee, all of the obligations of the Company or such Successor Person including the due and punctual payment of the principal of and accrued and unpaid interest on all of the Notes, the due and punctual payment of
the Fundamental Change Repurchase Price with respect to all Notes repurchased on each Fundamental Change Repurchase Date, the due and punctual delivery or payment, as the case may be, of any consideration due upon conversion of the Notes and the due
and punctual performance of all of the covenants and conditions of the Indenture and the Notes to be performed by the Company and fully and unconditionally guarantee all of the obligations of the Company or such Successor Person under the Notes and
the Indenture; 
 (b)    immediately after giving effect to such transaction (and treating any indebtedness that becomes
an obligation of the Successor Person as a result of such transaction as having been incurred by such Successor Person as the time of such transaction), no Default shall have occurred and be continuing; and 

(c)    the Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each
stating that such consolidation, merger, conveyance, transfer, sale or lease and, if a supplemental indenture is required in connection with such transaction, such supplemental indenture, comply with this Article 6 and that all conditions precedent
herein provided relating to such transaction have been satisfied. 
 For purposes of the foregoing, the transfer (by lease, assignment, sale
or otherwise) of the properties and assets of one or more Subsidiaries (other than to the Company or another Subsidiary), which, if such assets were owned by the Company, would constitute all or substantially all of the properties and assets of the
Company, shall be deemed to be the transfer of all or substantially all of the properties and assets of the Company. 
 The Successor Person
formed by such consolidation or into which the Company is merged or the Successor Person 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 the
Indenture with the same effect as if such successor had been named as the Company herein; and thereafter, except in the case of a lease and except for obligations the Company may have under a separate supplemental indenture with respect to
securities other than the Notes, the Company shall be discharged from all obligations and covenants under the Indenture and the Notes. The Company, the Trustee and the Successor Person shall enter into a supplemental indenture to evidence the
succession and substitution of such Successor Person and such discharge and release of the Company. 

  
 - 23 - 

 ARTICLE 7 

DEFAULTS AND REMEDIES 

Section 7.01    Events of Default. So long as any Notes are outstanding, each of the following
shall be an “Event of Default”: 
 (a)    following the exercise by the Holder of the right to convert a Note
in accordance with Article 9 hereof, the Company fails to comply with its obligations to deliver the consideration due upon conversion when due, and such failure continues for a period of five (5) days or more; 

(b)    the Company defaults in its obligation to provide timely notice of a Fundamental Change or Make-Whole Fundamental
Change to the Trustee and each Holder as required under the Indenture, in each case when due and such failure continues for a period of five (5) days or more; 

(c)    the Company defaults in the payment of the principal amount of, or the Conversion Price Trigger Redemption Price or
Fundamental Change Repurchase Price for, any Note when due at maturity, redemption, upon repurchase or otherwise (including, without limitation, upon the exercise by a Holder of its right to require the Company to repurchase such Notes pursuant to
and in accordance with Section 4.07 hereof); 
 (d)    the Company defaults in the payment of any Interest when due
and payable, and continuance of such default for a period of 30 days; 
 (e)    the Company fails to perform or observe
any term, covenant or warranty or agreement in the Notes or the Indenture (other than those referred to in Section 7.01(a) through clause Section 7.01(d) above) and such failure continues for 90 days after receipt by the Company of a
Notice of Default; 
 (f)    a failure to pay when due at maturity or a default, event of default or other similar
condition or event (however described) that results in the acceleration of maturity of indebtedness for borrowed money of the Company or any Subsidiary (other than indebtedness that is non-recourse to the
Company or any Subsidiary) in an aggregate principal amount of $25 million (or its foreign currency equivalent) or more, unless the acceleration is rescinded, stayed or annulled within 30 days after receipt by the Company of a Notice of
Default; 
 (g)    the entry by a court having jurisdiction in the premise of (i) a decree or order for relief in
respect of the Company or any of its Significant Subsidiaries (as defined in Article 1, Rule 1-02 of Regulation S-X), in an involuntary case or proceeding under any
applicable bankruptcy, insolvency, reorganization or other similar law (any “Bankruptcy Law”) or (ii) a decree or order adjudging the Company or any of its Significant Subsidiaries bankrupt or insolvent, or approving as
properly filed a petition seeking reorganization, arrangement, adjustment or composition of or in respect of the Company or any of its Significant Subsidiaries, under any applicable Bankruptcy Law, or appointing a custodian, receiver, liquidator,
assignee, trustee, sequestrator or other similar official of the Company or of any substantial part of its property, or ordering the winding up or liquidation of its affairs, and the continuance of any such decree or order for relief or any such
other decree or order described in clause (i) or (ii) above is unstayed and in effect for a period of 60 consecutive days; and 

(h)    the commencement by the Company or any of its Significant Subsidiaries, of a voluntary case or proceeding under any
applicable Bankruptcy Law or of any other case or proceeding to be adjudicated a bankrupt or insolvent, or (ii) the consent by the Company, to the 

  
 - 24 - 

 
entry of a decree or order for relief in respect of the Company or any of its Significant Subsidiaries, in an involuntary case or proceeding under any applicable Bankruptcy Law or to the
commencement of any bankruptcy or insolvency case or proceeding against the Company, or (iii) the filing by the Company, of a petition or answer or consent seeking reorganization or relief under any applicable Bankruptcy Law, or (iv) the
consent by the Company to the filing of such petition or to the appointment of or the taking possession by a custodian, receiver, liquidator, assignee, trustee, sequestrator or other similar official of the Company or of any substantial part of its
property, or (v) the making by the Company or any of its Significant Subsidiaries, of a general assignment for the benefit of creditors, or the admission by the Company or any of its Significant Subsidiaries, in writing of its inability to pay
its debts generally as they become due. 
 The foregoing shall constitute Events of Default whatever the reason for any such Event of
Default and whether it is voluntary or involuntary or is effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body. 

For the avoidance of doubt, clauses (e) and (f) above shall not constitute an Event of Default until the Trustee notifies the Company, or
the Holders of at least 25% in aggregate principal amount of the Notes at the time outstanding notify the Company and the Trustee, of such default and the Company does not cure such default (and such default is not waived) within the time specified
in clauses (e) and (f) above after actual receipt of such notice. Any such notice must specify the default, demand that it be remedied and state that such notice is a “Notice of Default.” 

Section 7.02    Acceleration. If an Event of Default (other than an Event of Default specified
in Section 7.01(g) or Section 7.01(h)) occurs and is continuing (the Event of Default not having been cured or waived), the Trustee by notice to the Company, or the Holders of at least 25% in aggregate principal amount of the Notes at the
time outstanding by notice to the Company and the Trustee, may declare the principal amount of the Notes and any accrued and unpaid Interest on all the Notes to be immediately due and payable. Upon such a declaration, such accelerated amount shall
be due and payable immediately. If an Event of Default specified in Section 7.01(g) or Section 7.01(h) occurs and is continuing involving the Company (and not solely involving one or more of the Company’s Significant Subsidiaries),
the principal amount of the Notes and any accrued and unpaid Interest on all the Notes shall become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holders. The Holders of a majority in
aggregate principal amount of the Notes at the time outstanding, by notice to the Trustee (and without notice to any other Holders) may rescind an acceleration and its consequences, and thereby waive the Events of Default giving rise to such
acceleration, if the rescission would not conflict with any judgment or decree and if all existing Events of Default have been cured or waived except nonpayment of the principal amount of the Notes and any accrued and unpaid Interest that have
become due solely as a result of acceleration. No such rescission shall affect any subsequent Event of Default or impair any right consequent thereto. 

Section 7.03    Other Remedies. If an Event of Default occurs and is continuing, the Trustee may
pursue any available remedy to collect the payment of the principal amount of the Notes and any accrued and unpaid Interest on the Notes or to enforce the performance of any provision of the Notes or the Indenture. 

  
 - 25 - 

 The Trustee may maintain a proceeding even if the Trustee does not possess any of the Notes or
does not produce any of the Notes in the proceeding. A delay or omission by the Trustee or any Securityholder 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. 

Section 7.04    Special Interest. Notwithstanding anything to the contrary in this Article 7,
the Company may elect that the sole remedy for any Event of Default (a “Reporting Event of Default”) pursuant to Section 7.01(e) arising from the Company’s failure to comply with its obligations under Section 5.03
will, for each of the first one hundred eighty (180) calendar days on which a Reporting Event of Default has occurred and is continuing, consist exclusively of the accrual of Special Interest on the Notes. If the Company has made such an
election, then (i) the Notes will be subject to acceleration as set forth above on account of the relevant Reporting Event of Default from, and including, the one hundred eighty-first (181st) calendar day on which a Reporting Event of Default
has occurred and is continuing or if the Company fails to pay any accrued and unpaid Special Interest when due; and (ii) Special Interest will cease to accrue on any Notes from, and including, such one hundred eighty-first (181st) calendar day.

 Any Special Interest that accrues on a Note will be payable on the same dates and in the same manner as the stated Interest on such Note
and will accrue at a rate per annum equal to 0.25% of the principal amount thereof. For the avoidance of doubt, any Special Interest that accrues on a Note will be in addition to the stated Interest that accrues on such Note. Each reference in this
Indenture to Interest on any Note includes Special Interest, if any, that has accrued on such Note, unless the context requires otherwise. 

To make the election to pay Special Interest as set forth above, the Company must provide notice of such election to Holders before the date
on which each Reporting Event of Default first occurs. The notice will also, among other things, briefly describe the periods during which and rate at which Special Interest will accrue and the circumstances under which the Notes will be subject to
acceleration on account of such Reporting Event of Default. 
 ARTICLE 8 

AMENDMENTS 

Section 8.01    Without Consent of Holders. The Company and the Trustee may modify or amend the
Indenture or the Notes without the consent of any Securityholder to: 
 (a)    comply with Section 9.12; 

(b)    add guarantees with respect to the Notes or secure the Notes; 

(c)    provide for the release of any guarantee added to the Notes pursuant to clause (b) above, unless such
guarantee is required pursuant to Section 6.01(a); 
 (d)    add to the covenants or Events of Default of the
Company for the benefit of the Holders; 

  
 - 26 - 

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

(f)    provide for conversion rights of Holders if any reclassification or change of the Common Stock or any
consolidation, merger or sale of all or substantially all of the Company’s assets occurs; 
 (g)    enter into
supplemental indentures in accordance with Section 9.12 in connection with a Common Stock Change Event, including to provide that the Notes are convertible into Reference Property and make any other change required by or resulting from, but
subject to, the provisions of Section 9.12; 
 (h)    provide for the assumption by a Successor Person of the
Company’s obligations to the Holders in the case of a merger, consolidation, conveyance, transfer or lease pursuant to Article 6 hereof; 

(i)    provide for uncertificated Notes in addition to or in place of Certificated Notes; provided, however,
that uncertificated Notes are issued in registered form for United States federal income tax purposes; 
 (j)    change
the Conversion Rate in accordance with the Indenture; provided, however, that any increase in the Conversion Rate other than pursuant to Article 9 shall not adversely affect the interests of the Holders (after taking into account
United States federal income tax and other consequences of such increase); 
 (k)    evidence the acceptance of
appointment by a successor Trustee; 
 (l)    irrevocably elect or eliminate any Settlement Method or Specified Cash
Amount; provided, however, that no such election or elimination will affect any settlement method theretofore elected (or deemed to be elected) with respect to any Note pursuant to Section 9.02; 

(m)    comply with the requirements of the SEC or TIA in order to effect or maintain the qualification of the Indenture or
any supplemental indenture under the TIA; 
 (n)    cure any ambiguity or to correct or supplement any provision herein
or in the Notes that may be inconsistent with any other provision herein or that is otherwise defective; 
 (o)    make
other changes to the Indenture or forms or terms of the Notes, provided no such change individually or in the aggregate with all other such changes has or will have a material adverse effect on the interests of the Holders; 

(p)    conform, as necessary, the Indenture and the forms or terms of the Notes, to the “Description of Notes”
as set forth in the Preliminary Prospectus Supplement relating to the Notes, dated March 13, 2018, together with the related Pricing Term Sheet, dated March 13, 2018; 

(q)    comply with the rules of any applicable Depositary for the Notes, including DTC; 

  
 - 27 - 

 (r)    establish the form of Notes if issued in definitive form
(substantially in the form of Exhibit B); 
 (s)    provide for or confirm the issuance of additional
Notes pursuant to this Indenture; or 
 (t)    evidence and provide for the acceptance of the appointment under the
Indenture of a successor Trustee in accordance with the terms of the Indenture. 
 The Holders of a majority in aggregate principal amount
of the outstanding Notes may, on behalf of all the holders of all Notes, waive all compliance by the Company with provisions in the Indenture (other than the provisions of the Indenture whose modification or amendment otherwise requires the consent
of the holder of each outstanding Note affected by such modification or amendment as set forth in Section 8.02); or waive any past Default or Event of Default under the Indenture and its consequences, except a Default or Event of Default in the
payment of any amount due, or in the obligation to deliver consideration upon conversion or with respect to any Note or in respect of any provision which under the Indenture cannot be modified or amended without the consent of the holder of each
outstanding Note affected. 
 Section 8.02    With Consent of Holders. Except as provided
below in this Section 8.02 and in Section 8.01, the Company and the Trustee may amend, modify or supplement the Indenture or the Notes with the written consent of the Holders of at least a majority of the principal amount of the Notes at
the time outstanding. Except as provided below in this Section 8.02 and in Section 8.01, the Holders of at least a majority of the principal amount of the Notes at the time outstanding may waive noncompliance in any particular instance
with any provision of the Indenture or the Notes. 
 Without the written consent or the affirmative vote of each Holder affected thereby, an
amendment, supplement or waiver under this Section 8.02 may not: 
 (a)    reduce the principal amount of or change
the stated maturity of any Note, or the payment date of any installment of Interest payable on any Note; 

(b)    reduce the Conversion Price Trigger Redemption Price or Fundamental Change Repurchase Price of, any Note or change
the time at which or circumstances under which the Notes may be redeemed or repurchased; 
 (c)    change the currency
of payment of such Notes or Interest, Conversion Price Trigger Redemption Price or Fundamental Change Repurchase Price thereon; 

(d)    alter the manner of calculation or rate of accrual of Interest or extend the time for payment of any such amount or
the Conversion Price Trigger Redemption Price or Fundamental Change Repurchase Price of any Note; 
 (e)    impair the
right of any Holder to receive payment on or with respect to, or conversion of, any Note or to bring suit for the enforcement of any such payment; 

  
 - 28 - 

 (f)    adversely affect the repurchase option of the Holders as provided in
Article 4 or the right of the Holders to convert any Note as provided in Article 9, except as otherwise permitted pursuant to Article 6 or Section 9.12 hereof; 

(g)    modify the redemption provisions of Article 4 in a manner adverse to the Holders; 

(h)    change the Company’s obligation to maintain an office or agency in the places and for the purposes specified
in the Indenture; 
 (i)    change the contractual priority in right of payment of the Notes as obligations of the
Company that are (i) senior in right of payment to the Company’s existing and future indebtedness that is expressly subordinated by contract to the Notes and (ii) equal in right of payment with the Company’s existing and future
indebtedness that is not so expressly subordinated (it being understood, for the avoidance of doubt, that (x) the Notes will not be deemed to be subordinated in right of payment to any other indebtedness solely because the Notes are unsecured
and such other indebtedness is secured; and (y) the Notes will not be deemed to be subordinated in right of payment to any indebtedness of the Company’s Subsidiaries that do not guarantee the Notes); 

(j)    modify any of the provisions of this Section, or reduce the percentage of the aggregate principal amount of
outstanding Notes required to amend, modify or supplement the Indenture or the Notes or waive an Event of Default, except to provide that certain other provisions of the Indenture cannot be modified or waived without the consent of each Holder
affected thereby; or 
 (k)    reduce the percentage of the aggregate principal amount of the outstanding Notes the
consent of whose Holders is required for any such supplemental indenture entered into in accordance with this Section 8.02 or the consent of whose Holders is required for any waiver provided for in the Indenture. 

It shall not be necessary for the consent of the Holders under this Section 8.02 to approve the particular form of any proposed
amendment, but it shall be sufficient if such consent approves the substance thereof. 
 After an amendment under this Section 8.02
becomes effective, the Company shall send to each Holder a notice briefly describing the amendment. 

Section 8.03    Satisfaction and Discharge. The Company may satisfy and discharge its
obligations under the Indenture by delivering to the Trustee for cancellation all outstanding Notes or by depositing with the Trustee or delivering to the Holders, as applicable, after all then-outstanding Notes have become due and payable, whether
at the Stated Maturity, or any Redemption Date or Fundamental Change Repurchase Date, or upon conversion or otherwise, cash (or, if applicable with respect to any conversion shares of the Common Stock or other Reference Property) sufficient to pay
all of the outstanding Notes and paying all other sums payable under the Indenture by the Company. 

  
 - 29 - 

 ARTICLE 9 

CONVERSIONS 

Section 9.01    Conversion Privilege. 

(a)    Subject to the provisions of Section 4.07 and Section 9.02, the Notes shall be convertible (i) prior
to the close of business on the Business Day immediately preceding March 15, 2023, upon satisfaction of one or more of the conditions set forth in Section 9.01(b), (ii) at any time prior to the close of business on the second Business Day
immediately preceding the Redemption Date, unless the Company fails to pay the Conversion Price Trigger Redemption Price, if the Company has called the Notes for redemption pursuant to Article 4 hereof, even if the Notes are not otherwise
convertible at that time; and (iii) at any time from, and including, March 15, 2023 to, and including, the Business Day immediately preceding the Stated Maturity, irrespective of the conditions set forth in Section 9.01(b), in each
case, into cash, shares of Common Stock, or a combination thereof, as set forth in Section 9.02, in accordance with this Article 9. 

(b)    (i) Prior to the close of business on the Business Day immediately preceding March 15, 2023, Holders may
surrender their Notes for conversion during any calendar quarter after the calendar quarter ending June 30, 2018 (and only during such calendar quarter), if the Closing Sale Price of the Common Stock for each of twenty (20) or more Trading
Days (whether or not consecutive) in a period of thirty (30) consecutive Trading Days ending on, and including, the last Trading Day of the immediately preceding calendar quarter exceeds the Conversion Trigger Price in effect on the each
applicable Trading Day. The Board of Directors will make appropriate adjustments to the Closing Sale Price of the Common Stock, in its good faith determination, to account for any adjustment to the Conversion Rate that becomes effective, or any
event requiring an adjustment to the Conversion Rate where the Ex-Dividend Date of the event occurs, during the thirty (30) consecutive Trading Day period set forth in the preceding sentence. The Company
shall determine at the beginning of each calendar quarter commencing after June 30, 2018 whether the Notes may be surrendered for conversion in accordance with this Section 9.01(b)(i) and shall notify the Conversion Agent and the Trustee
within ten (10) Business Days of the first day of such calendar quarter if the Notes become convertible in accordance with this Section 9.01(b)(i). 

(ii)    Prior to the close of business on the Business Day immediately preceding March 15, 2023, Holders may
surrender their Notes for conversion during the five (5) consecutive Business Days immediately after any five (5) consecutive Trading Day period (the “Security Measurement Period”) in which the Trading Price per $1,000
principal amount of Notes, as determined following a request by a Holder in accordance with the procedures set forth in this Section 9.01(b)(ii), for each Trading Day in such Security Measurement Period was equal to or less than 97% of the
Conversion Value of the Notes on such Trading Day (the “Trading Price Condition”). The Trading Prices shall be determined by the Bid Solicitation Agent pursuant to this Section 9.01(b)(ii) and the definition of Trading Price
set forth in the Indenture. The Company shall provide written notice to the Bid Solicitation Agent of the three independent nationally recognized securities dealers selected by the Company pursuant to the definition of Trading Price, along with
appropriate contact information for each. The Bid Solicitation Agent shall have no obligation to determine the Trading Price of the Notes in accordance with this 

  
 - 30 - 

 
Section 9.01(b)(ii) unless requested by the Company, and the Company shall have no obligation to make such request unless a Holder of at least $1.0 million aggregate principal amount of
Notes then outstanding provides the Company with written notice that includes reasonable evidence that the Trading Price per $1,000 principal amount of Notes would be equal to or less than 97% of the Conversion Value of the Notes. Promptly after
receiving such evidence, the Company shall instruct the Bid Solicitation Agent to determine the Trading Price of the Notes beginning on the next Trading Day and on each of the next five (5) Trading Days until the Trading Price Condition is no
longer satisfied. If the Company does not so instruct the Bid Solicitation Agent to obtain bids when required pursuant to this Section 9.01(b)(ii), the Trading Price per $1,000 principal amount of the Notes shall be deemed to be equal to 97% of
the Conversion Value of the Notes on each Trading Day that the Company fails to do so. If, at any time after the Trading Price Condition set forth above has been met, the Trading Price per $1,000 principal amount of Notes is greater than 97% of
the Conversion Value, the Company shall so notify the Holders, the Trustee and the Conversion Agent (if other than the Trustee). 

(iii)    If, prior to March 15, 2023, there occurs (1) a Fundamental Change, (2) a Make-Whole Fundamental
Change or (3) a Common Stock Change Event (other than, in the case of this clause (3), a transaction described in Section 9.12(i) that complies with the Company’s obligations under Article 6, if applicable, and is not a Fundamental
Change or a Make-Whole Fundamental Change), in each case other than a merger or other business combination transaction that is effected solely to change the Company’s jurisdiction of incorporation and that does not constitute a Fundamental
Change or a Make-Whole Fundamental Change, then a Holder may surrender its Notes for conversion at any time during the period that begins on, and includes, the effective date of the transaction and ends on, and includes, the thirty-fifth (35th)
Business Day after the effective date of the transaction (or, if such transaction also constitutes a Fundamental Change, until the related Fundamental Change Repurchase Date). The Company will notify Holders and the Trustee of any such transaction
no later than the actual effective date of such transaction. In addition, if the transaction is a Fundamental Change, then the Notes may also be surrendered for repurchase as provided in Section 4.07. 

(iv)    Prior to the close of business on the Business Day immediately preceding March 15, 2023, if the Company
elects to: 
 (A)    distribute to all or substantially all holders of Common Stock any rights, options or warrants
entitling them, for a period of not more than sixty (60) days after the record date of such distribution, to purchase or subscribe for shares of Common Stock at a price per share less than the average of the Closing Sale Prices of the Common
Stock over the ten (10) consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the date such distribution is announced; or 

(B)    distribute to all or substantially all holders of Common Stock the Company’s assets, debt securities or
rights to purchase the Company’s securities (excluding distributions solely pursuant to a transaction described in Section 9.06(a)), which distribution has a per share value, as reasonably determined by the Board of Directors, exceeding
10% of the Closing Sale Price of the Common Stock on the Trading Day preceding the date of announcement of such distribution, 

  
 - 31 - 

 
then, in each case, the Company shall notify Holders and the Trustee at least forty-five (45) Business Days before the Ex-Dividend Date for such
distribution. Once the Company has given such notice, Holders may surrender Notes for conversion at any time until the earlier of the close of business on the Business Day immediately preceding the Ex-Dividend
Date for such distribution and the Company’s announcement that such distribution will not take place, even if the Notes are not otherwise convertible at such time. However, the Company will not be required to provide such notice, and Holders
will not have the right to convert their Notes pursuant to this Section 9.01(b)(iv)(B), if each Holder participates, at the same time and upon the same terms as holders of the Common Stock and solely as a result of holding the Notes, in such
distribution without having to convert their Notes as if such Holder held a number of shares of Common Stock equal to the Conversion Rate in effect on the record date for such distribution, multiplied by the principal amount (expressed in
thousands) of Notes held by such Holder. 
 (c)    A Holder may convert a portion of the principal amount of a Note if
such portion is $1,000 principal amount or an integral multiple of $1,000 principal amount. Provisions of the Indenture that apply to conversion of all of a Note also apply to conversion of a portion of such Note. 

(d)    If the Notes shall be convertible in accordance with this Section 9.01, the Company shall provide written
notice to the Trustee, the Conversion Agent (if other than the Trustee) and Holders, and the Company shall publicly announce, through a reputable national newswire service, that the Notes have become convertible, stating, among other things: 

(i)    the event causing the Notes to become convertible; 

(ii)    the time during which the Notes shall be convertible as a result of that event; 

(iii)    if that event is a transaction described under Section 9.01(b)(iii) or Section 9.01(b)(iv), the
effective date of the transaction; and 
 (iv)    the procedures Holders must follow to convert their Notes, including
the name and address of the Conversion Agent. 
 The Company shall send the notice as soon as practicable, but in no event later than the
open of business on the Business Day immediately following the date the Notes become convertible as a result of the event. 

Section 9.02    Conversion Procedure and Payment Upon Conversion. 

(a)    To convert a Note, a Holder of a Certificated Note must (1) complete and manually sign the Conversion Notice,
with appropriate signature guarantee, or facsimile of the Conversion Notice and deliver the completed Conversion Notice to the Conversion Agent, (2) surrender the Note to the Conversion Agent, (3) furnish appropriate endorsements and
transfer documents if required by the Registrar or Conversion Agent, (4) pay the amount of interest, if any, required by Section 9.02(c), and (5) pay any tax or duty if required pursuant to Section 9.04. If a Holder holds a
beneficial interest in a Global Note, to convert such Note, the Holder must comply with clauses (4) and (5) above and the Depositary’s procedures for converting a beneficial interest in a Global Note. 

  
 - 32 - 

 Upon conversion of a Holder’s Note, in satisfaction of its conversion obligation, the
Company shall pay or deliver, as the case may be, at its election, through the Conversion Agent, (i) shares of Common Stock, together with cash in lieu of any fractional share (“Physical Settlement”), (ii) cash (“Cash
Settlement”), or (iii) a combination of cash and shares of Common Stock, together with cash in lieu of any fractional share (“Combination Settlement”) as set forth in this Section 9.02(a). The Company, or the
Trustee at the direction of the Company and in the Company’s name and at its expense, shall inform Holders of the Settlement Method it elects to satisfy its obligation upon conversion (and the Specified Cash Amount, if applicable, as follows):

 (i)    in respect of Notes converted with a Conversion Date that is on or after the forty-fifth (45th) Scheduled
Trading Day immediately preceding the Stated Maturity, no later than the forty-fifth (45th) Scheduled Trading Day immediately preceding the Stated Maturity; and 

(ii)    in all other cases, no later than the Business Day following the applicable Conversion Date; 

provided, however, that if the Company calls any Notes for redemption, then (x) the Company will specify in the related redemption notice
the Settlement Method that will apply to all conversions with a Conversion Date that occurs on or after the date the Company sends such redemption notice and before the related Redemption Date; and (y) if the related Redemption Date is on or
after the forty-fifth (45th) Scheduled Trading Day immediately preceding the Stated Maturity, then such Settlement Method must be the same Settlement Method that applies to all conversions with a Conversion Date that occurs on or after the
forty-fifth (45th) Scheduled Trading Day immediately preceding the Stated Maturity. Except as provided in the preceding sentence, the Company must use the same Settlement Method for all conversions with a Conversion Date that occur on the same day,
but the Company will not be obligated to use the same Settlement Method for conversions with Conversion Dates that occur on different days. 

If the Company fails to give notice within the time periods provided for in the immediately preceding sentence as to how it intends to settle
its conversion obligation with respect to such Notes, then the Company will be deemed to have elected the Default Settlement Method and such failure will not be deemed to be a Default. If the Company elects Combination Settlement but fails to
specify the Specified Cash Amount, then the Specified Cash Amount will be deemed to be $1,000 per $1,000 principal amount of Notes. 

Except as provided in Sections 9.06, 9.12 and 9.15, the Company will pay or deliver, as applicable, the consideration due upon conversion as
follows: (i) if Cash Settlement or Combination Settlement applies, on or before the second (2nd) Business Day immediately after the last VWAP Trading Day of such Observation Period; and (ii) if Physical Settlement applies, on or before the
second (2nd) Business Day immediately after such Conversion Date. 

  
 - 33 - 

 The amount of cash and number of shares of Common Stock, as the case may be, due upon conversion
of Notes will be as follows: 
 (1)    If the Company elects (or is deemed to have elected) Physical Settlement, the
Company shall deliver to each converting Holder a number of shares of Common Stock equal to (i) (A) the aggregate principal amount of Notes to be converted, divided by (B) $1,000 multiplied by (ii) the Conversion Rate
in effect on the relevant Conversion Date (provided that the Company shall deliver cash in lieu of fractional shares as provided in Section 9.03). 

(2)    If the Company elects (or is deemed to have elected) Cash Settlement, the Company shall pay to each converting
Holder, for each $1,000 principal amount of Notes so converted, cash in an amount equal to the sum of the Daily Conversion Values for each of the forty (40) consecutive VWAP Trading Days in the relevant Observation Period. 

(3)    If the Company elects (or is deemed to have elected) Combination Settlement, the Company shall deliver to each
converting Holder, for each $1,000 principal amount of Notes to be converted, cash and shares of Common Stock, if any, equal to the sum of the Daily Settlement Amounts for each of the forty (40) consecutive VWAP Trading Days in the relevant
Observation Period (provided that the Company will deliver cash in lieu of fractional shares as provided in Section 9.03). 

The Daily Settlement Amounts (if applicable) and the Daily Conversion Values (if applicable) shall be determined by the Company promptly
following the last day of the applicable Observation Period. Promptly after such determination of the Daily Settlement Amounts or the Daily Conversion Values, as the case may be, and the amount of cash deliverable in lieu of fractional shares (if
any), the Company shall notify the Trustee and the Conversion Agent of the Daily Settlement Amounts or the Daily Conversion Values, as the case may be, and the amount of cash deliverable in lieu of fractional shares (if any). The Trustee and the
Conversion Agent shall have no responsibility for any such determination. 
 (b)    A Holder receiving shares of Common
Stock upon conversion shall not be entitled to any rights as a holder of Common Stock, including, among other things, the right to vote, respond to tender offers and receive dividends and notices of shareholder meetings, until the close of business
on the Conversion Date (in the case of Physical Settlement) or the close of business on the last VWAP Trading Day of the applicable Observation Period (in the case of Combination Settlement). On and after the Conversion Date with respect to a
conversion of a Note pursuant hereto, all rights of the Holder of such Note shall terminate, other than the right to receive the consideration deliverable upon conversion of such Note as provided herein (and, if applicable, any interest payment as
provided in Section 9.02(c)). 
 (c)    Except as provided in the Notes or in this Article 9, no payment or
adjustment will be made for accrued interest, if any, on a converted Note or for dividends on any Common Stock issued on or prior to conversion, and accrued interest, if any, will be deemed to be paid by the consideration paid to the Holder upon
conversion. On conversion of a Note, accrued interest, if any, with respect to the converted Note shall not be cancelled, extinguished or forfeited, but rather shall be deemed to be paid in full to the Holder thereof through delivery of the Common
Stock (together with the cash payment, if any, in lieu of fractional shares), or cash or a 

  
 - 34 - 

 
combination of cash and Common Stock in lieu thereof, in exchange for the Note being converted pursuant to the provisions hereof; and the fair market value of such shares of Common Stock
(together with any such cash payment in lieu of fractional shares), or cash or a combination of cash and Common Stock in lieu thereof, shall be treated as delivered, to the extent thereof, first in exchange for accrued interest, if any, and the
balance, if any, of the fair market value of such Common Stock (and any such cash payment in lieu of fractional shares), or cash in lieu thereof, shall be treated as delivered in exchange for the remaining principal payments due on the Note being
converted pursuant to the provisions hereof. If any Holder surrenders a Note for conversion after the close of business on the Interest Record Date for the payment of an installment of interest and prior to the open of business on the next Interest
Payment Date, then, notwithstanding such conversion, the full amount of accrued and unpaid interest payable with respect to such Note on such Interest Payment Date shall be paid on such Interest Payment Date to the Holder of record of such Note at
the close of business on such Record Date; provided, however, that such Note, when surrendered for conversion, must be accompanied by payment in cash to the Conversion Agent on behalf of the Company of the full amount equal to the
accrued and unpaid interest payable on such Interest Payment Date on the portion so converted; provided further, however, that such payment to the Conversion Agent provided for in the immediately preceding proviso in respect of a Note
surrendered for conversion shall not be required with respect to a Note that (i) the Company has specified a Redemption Date that is after an Interest Record Date but on or prior to the Business Day immediately after the corresponding Interest
Payment Date (ii) is surrendered for conversion after the close of business on September 1, 2023, the Interest Record Date immediately preceding the Stated Maturity or (iii) is surrendered for conversion after the close of business on
an Interest Record Date for the payment of an installment of interest and on or before the Business Day immediately after the related Interest Payment Date, where, pursuant to Section 4.07, the Company has specified, a Fundamental Change
Repurchase Date that is after such Interest Record Date and on or before such Interest Payment Date; provided further that, if the Company shall have, prior to the Conversion Date with respect to a Note, defaulted in a payment of interest on
such Note, then in no event shall the Holder of such Note who surrenders such Note for conversion be required to pay such defaulted interest or the interest that shall have accrued on such defaulted interest pursuant to Section 3.07 of the Base
Indenture or otherwise (it being understood that nothing in this Section 9.02(c) shall affect the Company’s obligations under Section 3.07 of the Base Indenture). 

(d)    If a Holder converts more than one Note at the same time, the number of full shares of Common Stock issuable upon
such conversion, if any, shall be based on the total principal amount of all Notes converted. 
 (e)    Upon surrender
of a Note that is converted in part, the Trustee shall authenticate for the Holder a new Note equal in principal amount to the unconverted portion of the Note surrendered. 

(f)    If the last day on which a Note may be converted is not a Business Day in a place where a Conversion Agent is
located, the Note may be surrendered to that Conversion Agent on the next succeeding day that is a Business Day. 

  
 - 35 - 

 Section 9.03    Cash In Lieu Of Fractional
Shares. 
 The Company will not issue a fractional share of Common Stock upon conversion of a Note. Instead, the
Company shall pay cash in lieu of fractional shares based on the Closing Sale Price of the Common Stock on the Conversion Date (in the case of Physical Settlement) or the Volume-Weighted Average Price per share of the Common Stock on the last
Trading Day of the relevant Observation Period (in the case of Combination Settlement). 

Section 9.04    Taxes On Conversion. 

If a Holder converts its Note, the Company shall pay any documentary, stamp or similar issue or transfer tax or duty due on the issue, if any,
of Common Stock upon the conversion. However, such Holder shall pay any such tax or duty that is due because such shares are issued in a name other than such Holder’s name. The Conversion Agent may refuse to deliver a certificate representing
the Common Stock to be issued in a name other than such Holder’s name until the Conversion Agent receives a sum sufficient to pay any tax or duty that will be due because such shares are to be issued in a name other than such Holder’s
name. 
 Section 9.05    Company to Provide Common Stock. 

The Company shall at all times reserve out of its authorized but unissued Common Stock or Common Stock held in its treasury enough shares of
Common Stock to permit the conversion, in accordance herewith, of all of the Notes. The shares of Common Stock, if any, due upon conversion of a Global Note shall be delivered by the Company in accordance with the Depositary’s customary
practices. 
 All shares of Common Stock that may be issued upon conversion of the Notes shall be validly issued, fully paid and non-assessable and shall be free of preemptive or similar rights and free of any lien or adverse claim. 

The Company shall comply with all securities laws regulating the offer and delivery of shares of Common Stock upon conversion of Notes and
shall list such shares on each national securities exchange or automated quotation system on which the shares of Common Stock are listed. 

Section 9.06    Adjustment Of Conversion Rate. 

The Conversion Rate shall be subject to adjustment from time to time, without duplication, upon the occurrence of any of the following events,
except that the Company will not make any adjustment to the Conversion Rate if each Holder of Notes participates (other than in the case of a transaction described in Section 9.06(a) or Section 9.06(e)), at the same time and upon the same
terms as holders of the Common Stock and solely as a result of holding the Notes, in any of the transactions described in this Section 9.06 without having to convert such Holder’s Notes as if such Holder held a number of shares of Common
Stock equal to the Conversion Rate, multiplied by the principal amount (expressed in thousands) of Notes held by such Holder: 

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

											
		 	CR 1	 	=	 	CR 0	 	×	 	OS 1
	 	 	 	 	 	OS 0

  
 - 36 - 

 where, 
  

					
	CR0	 	=	 	the Conversion Rate in effect immediately prior to the open of business on the Ex-Dividend Date for such dividend or distribution, or the open of business on the effective date of such share split or share combination, as the
case may be;
			
	CR1	 	=	 	the Conversion Rate in effect immediately after the open of business on the Ex-Dividend Date for such dividend or distribution, or the open of business on the effective date of such share
split or share combination, as the case may be;
			
	OS0	 	=	 	the number of shares of Common Stock outstanding immediately prior to the open of business on the Ex-Dividend Date for such dividend or distribution, or the open of business on the
effective date of such share split or share combination, as the case may be; and
			
	OS’	 	=	 	the number of shares of Common Stock outstanding immediately after such dividend or distribution, or such share split or share combination, as the case may be.

 Any adjustment made under this Section 9.06(a) shall become effective immediately after the open of
business on the Ex-Dividend Date for such dividend or distribution, or immediately after the open of business on the effective date for such share split or share combination, as the case may be. If any
dividend or distribution of the type described in this Section 9.06(a) is declared but not so paid or made, or any share split or combination of the type described in this Section 9.06(a) is announced but the outstanding shares of Common
Stock are not split or combined, as the case may be, the Conversion Rate shall be immediately readjusted, effective as of the date the Board of Directors determines not to pay such dividend or distribution, or not to split or combine the outstanding
shares of Common Stock, as the case may be, to the Conversion Rate that would then be in effect if such dividend, distribution, share split or share combination had not been declared or announced. 

(b)    If the Company distributes, to all or substantially all holders of the Common Stock, any rights, options or
warrants entitling such Holders, for a period expiring not more than sixty (60) days immediately following the record date of such distribution, to purchase or subscribe for shares of Common Stock, at a price per share less than the average of
the Closing Sale Prices of the Common Stock over the ten (10) consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the date such distribution is announced, the Conversion Rate shall be increased based
on the following formula: 
  

											
		 	CR 1	 	=	 	CR 0	 	×	 	OS 0 + X
	 	 	 	 	 	OS 0 + Y

  
 - 37 - 

 where, 
  

					
	CR0	 	=	 	the Conversion Rate in effect immediately prior to the open of business on
the Ex-Dividend Date for such distribution;
			
	CR1	 	=	 	the Conversion Rate in effect immediately after the open of business on the Ex-Dividend Date for such distribution;
			
	OS0	 	=	 	the number of shares of Common Stock outstanding immediately prior to the open of business on the Ex-Dividend Date for such distribution;
			
	X	 	=	 	the total number of shares of Common Stock issuable pursuant to such rights, options or warrants; and
			
	Y	 	=	 	the number of shares of Common Stock equal to (x) the aggregate price payable to exercise such rights, options or warrants, divided by (y) the average of the Closing Sale Prices of the Common Stock over the ten
(10) consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the date such distribution is announced.

 Any increase made under this Section 9.06(b) shall be made successively whenever any such rights,
options or warrants are distributed and shall become effective immediately after the open of business on the Ex-Dividend Date for such distribution. To the extent that shares of Common Stock are not delivered
after the expiration of such rights, options or warrants, the Conversion Rate shall be decreased to the Conversion Rate that would then be in effect had the increase with respect to the distribution of such rights, options or warrants been made on
the basis of delivery of only the number of shares of Common Stock actually delivered. If such rights, options or warrants are not so distributed, the Conversion Rate shall be decreased to be the Conversion Rate that would then be in effect if such Ex-Dividend Date for such distribution had not occurred. 
 For purposes of this Section 9.06(b) and
Section 9.01(b)(iv), in determining whether any rights, options or warrants entitle the holders thereof to subscribe for or purchase shares of Common Stock at less than such average of the Closing Sale Prices for the ten (10) consecutive
Trading Day period ending on, and including, the Trading Day immediately preceding the date such distribution is announced, and in determining the aggregate offering price of such shares of Common Stock, there shall be taken into account any
consideration received by the Company for such rights, options or warrants and any amount payable on exercise or conversion thereof, with the value of such consideration, if other than cash, to be determined by the Board of Directors. Except as
provided in the last sentence of the prior paragraph, in no event shall the Conversion Rate be decreased pursuant to this Section 9.06(b). 

(c)     

(i)    If the Company distributes shares of its Capital Stock, evidences of its indebtedness or other of its assets,
securities or property, or rights, options or warrants to acquire the Company’s Capital Stock or other securities, to all or substantially all holders of Common Stock, excluding (i) dividends, distributions or issuances covered by
Section 9.06(a) and Section 9.06(b) (including, for the avoidance of doubt, any such dividends, distributions or issuance for which an adjustment to the Conversion Rate is not yet effected pursuant to such Section 9.06(a)

  
 - 38 - 

 
or Section 9.06(b), as applicable, due to the application of the 1% Provision), (ii) dividends or distributions paid exclusively in cash referred to in Section 9.06(d) (including, for
the avoidance of doubt, any such dividends or distributions for which an adjustment to the Conversion Rate is not yet effected pursuant to such Section 9.06(d) due to the application of the 1% Provision), (iii) dividends or distributions solely
pursuant to a Common Stock Change Event, as to which Section 9.12 will apply, and (iv) Spin-Offs to which the provisions set forth in Section 9.06(c)(ii) shall apply (subject, for the avoidance of doubt, to the 1% Provision) (any of
such shares of Capital Stock, evidences of indebtedness or other assets, securities or property, or rights, options or warrants to acquire the Company’s Capital Stock or other securities, the “Distributed Assets”), then, in
each such case the Conversion Rate shall be increased based on the following formula: 
  

													
		 	CR 1	 	=	 	CR 0	 	×	 	     SP    	 	
	 	 	 	 	 	SP – FMV	 	

 where 
  

					
	CR0	 	=	 	the Conversion Rate in effect immediately prior to the open of business on the Ex-Dividend Date for such distribution;
			
	CR1	 	=	 	the Conversion Rate in effect immediately after the open of business on the Ex-Dividend Date for such distribution;
			
	SP	 	=	 	the average of the Closing Sale Prices of the Common Stock over the ten (10) consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the
Ex-Dividend Date for such distribution; and
			
	FMV	 	=	 	the fair market value (as determined by the Board of Directors) of the shares of Capital Stock, evidences of indebtedness, assets, securities, property, rights, options or warrants distributed with respect to each outstanding
share of Common Stock as of the open of business on the Ex-Dividend Date for such distribution.

 If the Board of Directors determines “FMV” for purposes of this Section 9.06(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 Closing Sale Prices of the Common Stock over the ten (10) consecutive
Trading Day period ending on the Trading Day immediately preceding the Ex-Dividend Date for such distribution. 

Notwithstanding the foregoing, if “FMV” (as defined above) is equal to or greater than the “SP0” (as defined above), then, in lieu of the foregoing increase, each Holder of a Note shall receive, for each $1,000 principal amount of Notes it holds, at the same time and upon the same terms
as the holders of the Common Stock, the amount and kind of Distributed Assets that such Holder would have received as if such Holder owned a number of shares of Common Stock equal to the Conversion Rate in effect on the record date for such
distribution. 
 Any increase made under this Section 9.06(c)(i) shall become effective immediately after the open of business on the Ex-Dividend Date for such distribution. If such distribution is not so paid or made, the Conversion Rate shall be decreased to be the Conversion Rate that would then be in effect if such distribution had not been
declared. 

  
 - 39 - 

 (ii)    If the Company dividends or distributes, to all or substantially all
holders of the Common Stock, shares of Capital Stock of any class or series, or similar equity interest, of or relating to a Subsidiary or other business unit of the Company (other than a distribution solely pursuant to a Common Stock Change Event,
as to which Section 9.12 will apply) where such Capital Stock or similar equity interest is listed or quoted (or will be listed or quoted upon consummation of the Spin-Off) on a U.S. national securities
exchange (a “Spin-Off”), the Conversion Rate will be increased based on the following formula: 
  

											
		 	CR 1	 	=	 	CR 0	 	×	 	FMV + MP
	 	 	 	 	 	      MP

 where 
  

					
	CR0	 	=	 	the Conversion Rate in effect immediately prior to the open of business on the Ex-Dividend Date for the Spin-Off;
			
	CR1	 	=	 	the Conversion Rate in effect immediately after the open of business on the Ex-Dividend Date for the Spin-Off;
			
	FMV	 	=	 	the average of the Closing Sale Prices of the Capital Stock or similar equity interest distributed to holders of the Common Stock applicable to one share of Common Stock over the first ten (10) consecutive Trading Day period
(the “Spin-Off Valuation Period”) beginning on, and including, the Ex-Dividend Date for the Spin-Off;
and
			
	MP0	 	=	 	the average of the Closing Sale Prices of the Common Stock over the Spin-Off Valuation Period.

 The increase to the Conversion Rate under the preceding paragraph will be determined as of the end of
the Spin-Off Valuation Period but will be given effect immediately after the open of business on the Ex-Dividend Date for the
Spin-Off, with retroactive effect. If a Note is converted and the Conversion Date (in the case of Physical Settlement) or any VWAP Trading Day of the applicable Observation Period (in the case of Cash
Settlement or Combination Settlement) occurs during the Spin-Off Valuation Period, then, notwithstanding anything to the contrary, the Company will, if necessary, delay the settlement of such conversion until
the second (2nd) Business Day after the last day of the Spin-Off Valuation Period. 
 Except as
provided in the last sentence of the fourth paragraph of Section 9.06(c)(i), in no event shall the Conversion Rate be decreased pursuant to this Section 9.06(c). 

(d)    If any cash dividend or distribution is made to all or substantially all holders of the Common Stock, the
Conversion Rate shall be increased based on the following formula: 
  

											
		 	CR 1	 	=	 	CR 0	 	×	 	    SP  
	 	 	 	 	 	SP – C

  
 - 40 - 

 where 
  

					
	CR0	 	=	 	the Conversion Rate in effect immediately prior to the open of business on the Ex-Dividend Date for such dividend or distribution;
			
	CR1	 	=	 	the Conversion Rate in effect immediately after the open of business on the Ex-Dividend Date for such dividend or distribution;
			
	SP	 	=	 	the Closing Sale Price of the Common Stock on the Trading Day immediately preceding the Ex-Dividend Date for such dividend or distribution; and
			
	C	 	=	 	the amount in cash per share of Common Stock the Company dividends or distributes to holders of its Common Stock.

 Such increase shall become effective immediately after the open of business on the Ex-Dividend Date for such dividend or distribution. If such dividend or distribution is not so paid, the Conversion Rate shall be decreased, effective as of the date the Board of Directors determines not to make or
pay such dividend or distribution, to be the Conversion Rate that would then be in effect if such dividend or distribution had not been declared. 

Notwithstanding the foregoing, if “C” (as defined above) is equal to or greater than “SP0” (as defined above), then, in lieu of the foregoing increase, each Holder of a Note shall receive, for each $1,000 principal amount of Notes, at the same time and upon the same terms as
holders of the Common Stock, the amount of cash such Holder would have received as if such Holder owned a number of shares of Common Stock equal to the Conversion Rate on the record date for such dividend or distribution. 

Except as provided in the last sentence of the second paragraph of this Section 9.06(d), in no event shall the Conversion Rate be
decreased pursuant to this Section 9.06(d). 
 (e)    If the Company or any of its Subsidiaries makes a payment in
respect of a tender offer or exchange offer for the Common Stock (other than solely pursuant to an odd-lot tender offer pursuant to Rule 13e-4(h)(5) under the Exchange
Act), and the cash and value of any other consideration included in the payment per share of Common Stock exceeds the average (such average, the “Reference Price”) of the Closing Sale Prices of the Common Stock over the ten
(10) consecutive Trading-Day period (the “Tender/Exchange Offer Valuation Period”) commencing on, and including, the Trading Day next succeeding the last date on which tenders or
exchanges may be made pursuant to such tender or exchange offer, the Conversion Rate shall be increased based on the following formula: 
  

											
		 	CR 1	 	=	 	CR 0	 	×	 	AC + (SP × OS 1)
	 	 	 	 	 	    OS 0 × SP

 where 
  

					
	CR0	 	=	 	the Conversion Rate in effect immediately prior to the time (the “Expiration Time”) such tender or exchange offer expires;

  
 - 41 - 

					
	CR1	  	=	  	the Conversion Rate in effect immediately after the Expiration Time;
			
	AC	  	=	  	the aggregate value of all cash and any other consideration (as determined by the Board of Directors) paid or payable for shares of Common Stock purchased in such tender or exchange offer;
			
	OS0	  	=	  	the number of shares of Common Stock outstanding immediately prior to the Expiration Time (before giving effect to the purchase of all shares of the Common Stock accepted for purchase or exchange in such tender or exchange
offer);
			
	OS1	  	=	  	the number of shares of Common Stock outstanding immediately after the Expiration Time (excluding all shares of the Common Stock accepted for purchase or exchange in such tender or exchange offer); and
			
	SP	  	=	  	the Reference Price.

 The adjustment to the Conversion Rate pursuant to this Section 9.06(e) will be determined as of the end
of the Tender/Exchange Offer Valuation Period but will be given effect immediately after the Expiration Time, with retroactive effect. If a Note is converted and the Conversion Date (in the case of Physical Settlement) or any VWAP Trading Day of the
applicable Observation Period (in the case of Cash Settlement or Combination Settlement) occurs during the Tender/Exchange Offer Valuation Period, then, notwithstanding anything to the contrary, the Company will, if necessary, delay the settlement
of such conversion until the second (2nd) Business Day after the last day of the Tender/Exchange Offer Valuation Period. In no event shall the Conversion Rate be decreased pursuant to this Section 9.06(e). 

(f)    Notwithstanding anything to the contrary in the Indenture or the Notes, if: 

(i)    a Conversion Rate adjustment for any dividend or distribution becomes effective on any Ex-Dividend Date pursuant to subsections (a), (b), (c), (d) and (e) of this Section 9.06; 

(ii)    a Note is to be converted pursuant to Physical Settlement or Combination Settlement; 

(iii)    the Conversion Date for such conversion (in the case of Physical Settlement) or any VWAP Trading Day in the
Observation Period for such conversion (in the case of Combination Settlement) occurs on or after such Ex-Dividend Date and on or before the related record date; 

(iv)     the consideration due upon such conversion (in the case of Physical Settlement) or due with respect to such VWAP
Trading Day (in the case of Combination Settlement) includes any whole shares of Common Stock based on a Conversion Rate that is adjusted for such dividend or distribution; and 

  
 - 42 - 

 (v)    such shares would be entitled to participate in such dividend or
distribution, 
 then (x) such Conversion Rate adjustment will not be given effect for such conversion (in the case of Physical Settlement) or for such
VWAP Trading Day (in the case of Combination Settlement); and (y) the shares of Common Stock, if any, issuable upon such conversion (in the case of Physical Settlement) or issuable with respect to such VWAP Trading Day (in the case of
Combination Settlement) based on such unadjusted Conversion Rate will be entitled to participate in such dividend or distribution. 

(g)    Notwithstanding anything to the contrary, if: 

(i)    a Note is to be converted; 

(ii)    the record date, effective date or Expiration Time for any event that requires an adjustment to the conversion
rate pursuant to subsections (a), (b), (c), (d) and (e) of this Section 9.06 has occurred on or before the Conversion Date for such conversion (in the case of Physical Settlement) or on or before any VWAP Trading Day in the Observation
Period for such conversion (in the case of Combination Settlement), but an adjustment to the Conversion Rate for such event has not yet become effective as of such Conversion Date or VWAP Trading Day, as applicable; 

(iii)    the consideration due upon such conversion (in the case of Physical Settlement) or due in respect of such VWAP
Trading Day (in the case of Combination Settlement) includes any whole shares of the Common Stock; and 
 (iv)    such
shares are not entitled to participate in such event (because they were not held on the related record date or otherwise), 
 then, solely for purposes of
such conversion, the Company will, without duplication, give effect to such adjustment on such Conversion Date (in the case of Physical Settlement) or such VWAP Trading Day (in the case of Combination Settlement). In such case, if the date the
Company is otherwise required to deliver the consideration due upon such conversion is before the first date on which the amount of such adjustment can be determined, then the Company will (x) deliver, on such date the Company is otherwise
required by this Indenture, the consideration due upon such conversion based on the applicable unadjusted Conversion Rate(s); and (ii) deliver, on the Business Day immediately after such first date, any additional consideration arising from
giving effect to such adjustment to the applicable Conversion Rate(s). 
 (h)    As used in this Section 9.06,
“record date” means, with respect to any dividend distribution or other transaction or event in which the holders of the Common Stock have the right to receive any cash, securities or other property, the date fixed for determination
of holders of Common Stock entitled to receive such cash, securities or other property (whether such date is fixed by the Board of Directors or by statute, contract or otherwise). 

(i)    In addition to the foregoing adjustments in subsections (a), (b), (c), (d) and (e) above, the Company may,
from time to time and to the extent permitted by law and the continued listing requirements of the NYSE, increase the Conversion Rate by any amount for a 

  
 - 43 - 

 
period of at least twenty (20) Business Days or any longer period as may be permitted or required by law, if the Board of Directors has made a determination, which determination shall be
conclusive, that such increase would be in the best interests of the Company. Such Conversion Rate increase shall be irrevocable during such period. The Company shall give notice to the Trustee and cause notice of such increase to be sent to each
Holder, at least fifteen (15) days prior to the date on which such increase commences. 
 (j)    All calculations
under this Article 9 shall be made to the nearest cent or to the nearest one-millionth of a share, as the case may be. Adjustments to the Conversion Rate will be calculated to the nearest 1/10,000th. 

Section 9.07    No Adjustment. 

Notwithstanding anything herein or in the Notes to the contrary, in no event shall the Conversion Rate be adjusted: 

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

(b)    upon the issuance of any shares of Common Stock or restricted stock, restricted stock units, non-qualified stock options, incentive stock options or any other options or rights (including stock appreciation 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; 
 (c)    upon the
issuance of any shares of Common Stock pursuant to any option, warrant, right or exercisable, exchangeable or convertible security not described in clause (b) above and outstanding as of the date the Notes were first issued; 

(d)    for a third party tender offer by any party other than a tender offer by one or more of the Company’s
Subsidiaries set forth in Section 9.06(e); 
 (e)    solely pursuant to an
odd-lot tender offer pursuant to Rule 13e-4(h)(5) under the Exchange Act; 

(f)    for accrued and unpaid Interest, if any; 

(g)    upon the repurchase of any shares of Common Stock pursuant to an open-market share repurchase program or other buy-back transaction, including structured or derivative transactions, that is not a tender offer or exchange offer of the nature described in Section 9.06; or 

(h)    for a change in the par value of shares of Common Stock. 

No adjustment in the Conversion Rate pursuant to Section 9.06 shall be required until cumulative adjustments amount to one percent (1%)
or more of the Conversion Rate as last 

  
 - 44 - 

 
adjusted (or, if never adjusted, the initial Conversion Rate); provided, however, that all such deferred adjustments must be given effect immediately upon the earliest of the
following: (i) when all such deferred adjustments would result in a change of at least 1% to the Conversion Rate; (ii) the Conversion Date of, or any VWAP Trading Day of an Observation Period for, any Note; (iii) the date a
Fundamental Change or Make-Whole Fundamental Change occurs; (iv) the date the Company calls any Notes for redemption; and (iv) March 15, 2023. The provisions of this this paragraph are referred to herein as the “1%
Provision.” 
 No adjustment to the Conversion Rate need be made pursuant to Section 9.06 for a transaction (other than for
share splits or share combinations pursuant to Section 9.06(a)) if the Company provides for each Holder to participate in the transaction, at the same time that holders of Common Stock participate in such transaction, without conversion, as if
such Holder held a number of shares of Common Stock equal to a fraction whose numerator is the product of the Conversion Rate in effect on the record date or effective date, as applicable, of the transaction (without giving effect to any adjustment
pursuant to Section 9.06 on account of such transaction) and the aggregate principal amount of Notes held by such Holder and whose denominator is one thousand dollars ($1,000). 

Section 9.08    Other Adjustments. 

In the event that, as a result of an adjustment made pursuant to Section 9.06 hereof, the Holder of any Note thereafter surrendered for
conversion shall become entitled to receive any shares of Capital Stock other than Common Stock, thereafter the Conversion Rate of such other shares so receivable upon conversion of any Note shall be subject to adjustment from time to time in a
manner and on terms as nearly equivalent as practicable to the provisions with respect to Common Stock contained in this Article 9. 

Section 9.09    Adjustments For Tax Purposes. 

Except as prohibited by law the Company may (but is not obligated to) increase the Conversion Rate, in addition to those required by
Section 9.06 hereof, as it determines to be advisable in order that any stock dividend, subdivision of shares, distribution of rights to purchase stock or securities or distribution of securities convertible into or exchangeable for stock made
by the Company or to its shareholders will not be taxable to the recipients thereof or in order to avoid or diminish any such taxation. 

Section 9.10    Notice Of Adjustment. 

Whenever the Conversion Rate is adjusted, the Company shall promptly send to Holders at the addresses appearing on the Registrar’s books a
notice of the adjustment and file with the Trustee an Officers’ Certificate briefly stating the facts requiring the adjustment and the manner of computing it. The certificate shall be conclusive evidence of the correctness of such adjustment.

 Section 9.11    Notice Of Certain Transactions. 

In the event that: 

(1)    the Company takes any action, or becomes aware of any event, which would require an adjustment in the Conversion
Rate, 

  
 - 45 - 

 (2)    the Company takes any action that would require a supplemental
indenture pursuant to Section 9.12, or 
 (3)    there is a dissolution or liquidation of the Company, 

the Company shall send to Holders at the addresses appearing on the Registrar’s books and the Trustee a written notice stating the proposed record,
effective or expiration date, as the case may be, of any transaction referred to in clause (1), (2) or (3) of this Section 9.11. The Company shall send such notice at least twenty (20) calendar days (or, in the case of any event that
would require an adjustment in the Conversion Rate pursuant to Section 9.06(b), Section 9.06(c), Section 9.06(d) or Section 9.06(e), thirty (30) Business Days) before such date; however, failure to send such notice or any
defect therein shall not affect the validity of any transaction referred to in clause (1), (2) or (3) of this Section 9.11. 

Section 9.12    Effect Of Reclassifications, Consolidations, Mergers, Binding Share Exchanges Or Sales
On Conversion Privilege. 
 If the Company: 

(i)    reclassifies the Common Stock (other than a change only 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 of Common Stock to which Section 9.06 applies); 

(ii)    is a party to a consolidation, merger or binding statutory share exchange; or 

(iii)    sells, transfers, leases, conveys or otherwise disposes of all or substantially all of the consolidated property
or assets of the Company, 
 in each case pursuant to which the Common Stock would be converted into or exchanged for, or would constitute solely the right
to receive, cash, securities or other property, including any combination thereof (such an event, a “Common Stock Change Event,” and such cash, securities or property, the “Reference Property,” and the amount and
kind of reference property that a holder of one share of our common stock would be entitled to receive on account of such common stock change event (without giving effect to any arrangement not to issue or deliver a fractional portion of any
security or other property), a “Reference Property Unit”), then, notwithstanding anything to the contrary, 

(A)    at the effective time of such Common Stock Change Event, (i) the consideration due upon conversion of any
Note, and the conditions to any such conversion, will be determined in the same manner as if each reference to any number of shares of Common Stock in this Article 9 (or in any related definitions) were instead a reference to the same number of
Reference Property Units; (ii) for purposes of Section 4.01, each reference to any number of shares of the Common Stock in such provisions (or in any related definitions) will instead be deemed to be a reference to the same number of
Reference Property Units; and (iii) for purposes 

  
 - 46 - 

 
of the definition of “Fundamental Change,” “Change of Control,” “Termination of Trading” and “Make-Whole Fundamental Change,” the terms “Common
Stock” and “common equity” will be deemed to mean the common equity (or American Depositary Shares representing common equity), if any, forming part of such Reference Property; 

(B)    if such Reference Property Unit consists entirely of cash, then the Company will be deemed to elect Cash
Settlement in respect of all conversions whose Conversion Date occurs on or after the effective date of such Common Stock Change Event and will pay the cash due upon such conversions no later than the second (2nd) Business Day after such Conversion
Date; and 
 (C)    for these purposes, the Volume-Weighted Average Price or Closing Sale Price of any Reference
Property Unit or portion thereof that does not consist of a class of securities will be the fair value of such Reference Property Unit or portion thereof, as applicable, determined in good faith by the Company (or, in the case of cash denominated in
U.S. dollars, the face amount thereof). 
 If the Common Stock Change Event causes the Common Stock to be converted into, or exchanged for,
the right to receive more than a single type of consideration (determined based in part upon any form of shareholder election), then the composition of the Reference Property Unit 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 an election (or, if no such Holders make an affirmative election, the weighted average of the types and amounts of consideration actually received by the holders of
the Common Stock). The Company shall notify Holders, the Trustee and the Conversion Agent (if other than the Trustee) of such weighted average as soon as practicable after such determination is made. 

The Company shall not become a party to any Common Stock Change Event unless its terms are consistent with this Section 9.12. 

None of the foregoing provisions of this Section 9.12 shall affect the right of a Holder to convert its Notes into cash, shares of Common
Stock or a combination of cash and shares of Common Stock, in accordance with Section 9.01 and Section 9.02 hereof, prior to the effective date of such Common Stock Change Event. 

In the event the Company shall execute a supplemental indenture in accordance with this Section 9.12 in connection with a Common Stock
Change Event, the Company shall promptly file with the Trustee an Officers’ Certificate briefly stating the reasons therefor, the kind or amount of shares of stock or securities or property (including cash) receivable by Holders upon the
conversion of their Notes after any such Common Stock Change Event and any adjustment to be made with respect thereto. The supplemental indenture referred to in the first sentence of this paragraph shall provide for adjustments of the Conversion
Rate that shall be as nearly equivalent as may be practicable to the adjustments of the Conversion Rate provided for in this Article 9. If, in the case of any such consolidation, merger, binding share exchange, sale, transfer, lease, conveyance or
disposition, the stock or other securities and property (including cash) receivable thereupon by a holder of Common Stock includes shares of stock or other securities and property of a Person other than the successor or purchasing Person, as the
case may be, in such 

  
 - 47 - 

 
consolidation, merger, binding share exchange, sale, transfer, lease, conveyance or disposition, then such supplemental indenture shall also be executed by such other Person and shall contain
such additional provisions to protect the interests of the Holders as the Board of Directors in good faith shall reasonably determine necessary by reason of the foregoing (which determination shall be described in a Board Resolution). The provisions
of this Section 9.12 shall similarly apply to successive consolidations, mergers, binding share exchanges, sales, transfers, leases, conveyances or dispositions. 

Section 9.13    Trustee’s Disclaimer. 

The Trustee has no duty to determine when an adjustment under this Article 9 should be made, how it should be made or what such adjustment
should be, but may accept as conclusive evidence of the correctness of any such adjustment, and shall be protected in relying upon, the Officers’ Certificate with respect thereto that the Company is obligated to file with the Trustee pursuant
to Section 9.10 hereof. The Trustee makes no representation as to the validity or value of any securities or assets issued upon conversion of Notes, and the Trustee shall not be responsible for the failure by the Company to comply with any
provisions of this Article 9. 
 The Trustee shall not be under any responsibility to determine the correctness of any provisions contained
in any supplemental indenture executed pursuant to Section 9.12, but may accept as conclusive evidence of the correctness thereof, and shall be protected in relying upon, the Officers’ Certificate with respect thereto that the Company is
obligated to file with the Trustee pursuant to Section 9.12 hereof. 
 Section 9.14    Rights
Distributions Pursuant To Shareholders’ Rights Plans. 
 Upon conversion of any Note or a portion thereof, the Company shall
make provision such that the Holder thereof shall, to the extent such Holder is to receive shares of Common Stock upon such conversion, receive, in addition to, and concurrently with the delivery of, such shares of Common Stock upon conversion, the
rights described in any future shareholders’ rights plan(s) of the Company then in effect, unless the rights have separated from the Common Stock prior to the time of conversion in accordance with the provisions of the applicable rights plan,
in which case the Conversion Rate shall be adjusted at the time of separation as if the Company distributed to all holders of Common Stock, Distributed Assets as described in Section 9.06(c), subject to readjustment in the event of the
expiration, termination or redemption of such rights. 
 Section 9.15    Increased Conversion Rate
Applicable To Certain Notes Surrendered In Connection With Make-Whole Fundamental Changes. 
 (a)    If, prior to
the Stated Maturity, there occurs any event or transaction (a “Make-Whole Fundamental Change”) that constitutes a Fundamental Change (determined after giving effect to any exceptions to or exclusions from such definition (including,
for the avoidance of doubt, after giving effect to the proviso immediately after clause (3) of the definition of Change of Control), but excluding the Non-Ownership Change of Control exception), then,
notwithstanding anything herein to the contrary, the Conversion Rate applicable to each Note that is surrendered for conversion, in accordance with this Article 9, at any time during the period (the “Make-Whole Conversion Period”)
from, and including, the effective date (the 

  
 - 48 - 

 
“Effective Date”) of a Make-Whole Fundamental Change (which Effective Date the Company shall disclose in the notice referred to in Section 9.15(e)) to, and including, the
date that is thirty-five (35) Business Days after such Effective Date (or, if such Make-Whole Fundamental Change also constitutes a Fundamental Change, the Fundamental Change Repurchase Date corresponding to such Fundamental Change) shall be
increased to an amount equal to the Conversion Rate that would, but for this Section 9.15, otherwise apply to such Note pursuant to this Article 9, plus an amount equal to the Make-Whole Applicable Increase. 

(b)    As used herein, “Make-Whole Applicable Increase” shall mean, with respect to a Make-Whole
Fundamental Change, the amount, set forth in the following table, which corresponds to the Effective Date and the Applicable Price of such Make-Whole Fundamental Change: 
  

																																																					
	 	 	Applicable Price	 
	 Effective Date
	 	$6.53	 	 	$7.50	 	 	$8.00	 	 	$8.50	 	 	$9.00	 	 	$9.47	 	 	$11.00	 	 	$12.31	 	 	$15.00	 	 	$20.00	 	 	$30.00	 	 	$45.00	 	 	$65.00	 
	 March 20, 2018
	 	 	47.5260	 	 	 	36.7853	 	 	 	32.6263	 	 	 	29.1471	 	 	 	26.2144	 	 	 	23.8627	 	 	 	18.1573	 	 	 	14.8570	 	 	 	10.5573	 	 	 	6.5220	 	 	 	3.1743	 	 	 	1.1458	 	 	 	0.0000	 
	 September 15, 2018
	 	 	47.5260	 	 	 	34.8307	 	 	 	30.5550	 	 	 	27.0082	 	 	 	24.0489	 	 	 	21.7001	 	 	 	16.1164	 	 	 	12.9862	 	 	 	9.0567	 	 	 	5.5490	 	 	 	2.7340	 	 	 	1.0249	 	 	 	0.0000	 
	 September 15, 2019
	 	 	47.5260	 	 	 	32.9253	 	 	 	28.4338	 	 	 	24.7506	 	 	 	21.7144	 	 	 	19.3369	 	 	 	13.8409	 	 	 	10.8944	 	 	 	7.3933	 	 	 	4.4875	 	 	 	2.2487	 	 	 	0.8853	 	 	 	0.0000	 
	 September 15, 2020
	 	 	47.5260	 	 	 	30.9160	 	 	 	26.0688	 	 	 	22.1471	 	 	 	18.9700	 	 	 	16.5290	 	 	 	11.1200	 	 	 	8.4208	 	 	 	5.4867	 	 	 	3.3060	 	 	 	1.6943	 	 	 	0.6971	 	 	 	0.0000	 
	 September 15, 2021
	 	 	47.5260	 	 	 	28.7480	 	 	 	23.2650	 	 	 	18.9082	 	 	 	15.4667	 	 	 	12.9071	 	 	 	7.6627	 	 	 	5.3907	 	 	 	3.3100	 	 	 	2.0125	 	 	 	1.0610	 	 	 	0.4538	 	 	 	0.0000	 
	 September 15, 2022
	 	 	47.5260	 	 	 	28.2351	 	 	 	19.9625	 	 	 	14.4329	 	 	 	10.2278	 	 	 	7.3527	 	 	 	2.8700	 	 	 	1.7002	 	 	 	0.9820	 	 	 	0.6260	 	 	 	0.3393	 	 	 	0.1500	 	 	 	0.0000	 
	 September 15, 2023
	 	 	47.5260	 	 	 	27.7200	 	 	 	19.3867	 	 	 	12.0338	 	 	 	5.4978	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 

 provided, however, that: 

(i)    if the actual Applicable Price of such Make-Whole Fundamental Change is between two (2) Applicable Prices
listed in the table above under the column titled “Applicable Price,” or if the actual Effective Date of such Make-Whole Fundamental Change is between two Effective Dates listed in the table above in the row immediately below the title
“Effective Date,” then the Make-Whole Applicable Increase for such Make-Whole Fundamental Change shall be determined by linear interpolation between the Make-Whole Applicable Increases set forth for such higher and lower Applicable Prices,
or for such earlier and later Effective Dates based on a three hundred and sixty-five (365) or three hundred and sixty-six (366) day year, as applicable; 

(ii)    if the actual Applicable Price of such Make-Whole Fundamental Change is greater than $65.00 per share (subject to
adjustment in the same manner as the Applicable Prices pursuant to Section 9.15(b)(iii)), or if the actual Applicable Price of such Make-Whole Fundamental Change is less than $6.53 per share (subject to adjustment in the same manner as the
Applicable Prices pursuant to Section 9.15(b)(iii)), then the Make-Whole Applicable Increase shall be equal to zero (0); 

(iii)    if an event occurs that requires, pursuant to this Article 9 (other than solely pursuant to this
Section 9.15), an adjustment to the Conversion Rate, then, on the date and at the time such adjustment is so required to be made, each Applicable Price set forth in the table above under the column titled “Applicable Price” shall be
deemed to be adjusted so that such Applicable Price, at and after such time, shall be equal to the product of (1) such Applicable Price as in effect immediately before such adjustment to such Applicable Price and (2) a fraction whose
numerator is the Conversion Rate in effect immediately before such adjustment to the Conversion Rate and whose denominator is the Conversion Rate to be in effect, in accordance with this Article 9, immediately after such adjustment to the Conversion
Rate; 

  
 - 49 - 

 (iv)    each Make-Whole Applicable Increase amount set forth in the table
above shall be adjusted in the same manner, for the same events and at the same time as the Conversion Rate is to be adjusted pursuant to Section 9.06 through Section 9.14; and 

(v)    in no event shall the Conversion Rate applicable to any Note be increased pursuant to this Section 9.15 to the
extent, but only to the extent, such increase shall cause the Conversion Rate applicable to such Note to exceed 153.1393 shares of Common Stock per $1,000 principal amount (the “Maximum Conversion Rate”); provided,
however, that the Maximum Conversion Rate shall be adjusted at the same time and in the same manner in which, and for the same events for which, the Conversion Rate is to be adjusted pursuant to this Article 9. 

(c)    Upon surrender of Notes for conversion in connection with a Make-Whole Fundamental Change pursuant to
Section 9.01(b)(iii), the Company shall, at its option, satisfy its conversion obligation by delivering or paying, as the case may be, shares of Common Stock (together with cash in lieu of any fractional share), cash or a combination of cash
and shares of Common Stock (together with cash in lieu of any fractional share) in accordance with Section 9.02; provided, however, that if at the effective time of a Make-Whole Fundamental Change the consideration for the Common
Stock is comprised entirely of cash, then, for any conversion of Notes with a Conversion Date occurring on or after the Effective Date of such Make-Whole Fundamental Change, the conversion obligation shall be calculated based solely on the
Applicable Price for the transaction and shall be deemed to be an amount, per $1,000 principal amount of converted Notes, equal to the applicable Conversion Rate (including any Make-Whole Applicable Increase), multiplied by such
Applicable Price. In such event, the cash due upon conversion shall be determined and paid to Holders in cash on the second (2nd) Business Day following such Conversion Date. 

(d)    As used herein, “Applicable Price” shall have the following meaning with respect to a Make-Whole
Fundamental Change: (a) if such Make-Whole Fundamental Change constitutes is a transaction or series of related transactions described in clause (3) of the definition of Change of Control, and the consideration (excluding cash payments for
fractional shares or pursuant to statutory dissenters’ or appraisal rights) for the Common Stock in such Make-Whole Fundamental Change consists solely of cash, then the “Applicable Price” with respect to such Make-Whole Fundamental
Change shall be equal to the cash amount paid per share of Common Stock in such Make-Whole Fundamental Change and (b) in all other circumstances, the “Applicable Price” with respect to such Make-Whole Fundamental Change shall be equal
to the average of the Closing Sale Prices of the Common Stock for the five (5) consecutive Trading Days immediately preceding, but excluding, the Effective Date of such Make-Whole Fundamental Change, which average shall be appropriately
adjusted by the Board of Directors, in its good faith determination, to account for any adjustment, pursuant hereto, to the Conversion Rate that shall become effective, or any event requiring, pursuant hereto, an adjustment to the Conversion Rate
where the Ex-Dividend Date of such event occurs, at any time during such five (5) consecutive Trading Days. 

(e)    The Company shall send to the Trustee, the Conversion Agent and the Holders notice of the Effective Date of any
Make-Whole Fundamental Change and the applicable Make-Whole Applicable Increase in accordance with Section 9.01(b)(iii). 

  
 - 50 - 

 (f)    For avoidance of doubt, the provisions of this Section 9.15 shall
not affect or diminish the Company’s obligations, if any, pursuant to Article 4 with respect to a Make-Whole Fundamental Change. 

(g)    Nothing in this Section 9.15 shall prevent an adjustment to the Conversion Rate pursuant to Section 9.06
in respect of a Make-Whole Fundamental Change. 
 ARTICLE 10 

MISCELLANEOUS 

Section 10.01    Trust Indenture Act Controls. If any provision of the Indenture limits,
qualifies, or conflicts with another provision that is required to be included in the Indenture by the TIA, the required provision shall control. 

Section 10.02    Notices. Any request, demand, authorization, notice, waiver, consent or
communication by the Company or the Trustee to the other is duly given if in writing and delivered in person or mailed by first-class mail, postage prepaid, addressed as follows or transmitted by facsimile transmission to the following facsimile
numbers: 
 if to the Company: 

Helix Energy Solutions Group, Inc. 

3505 West Sam Houston Parkway North, Suite 400 

Houston, Texas 77043 
 Attn:
General Counsel 
 Facsimile: (281) 618-0505 

if to the Trustee: 
 The Bank of
New York Mellon Trust Company, N.A. 
 2 North LaSalle Street, Suite 1020 

Chicago, IL 60602 
 Attn:
Corporate Trust Division – Corporate Finance Unit 
 Facsimile: (312) 827-8542 

The Company or the Trustee by notice given to the other in the manner provided above may designate additional or different addresses for
subsequent notices or communications. 
 Failure to send a notice or communication to a Securityholder or any defect in it shall not affect
its sufficiency with respect to other Securityholders. If a notice or communication is sent in the manner provided above, it is duly given, whether or not received by the addressee; provided, however, that no notice to the Trustee
shall be deemed to be duly given unless and until the Trustee actually receives same at the address given above. 
 If the Company sends a
notice or communication to the Securityholders, it shall send a copy to the Trustee and each Registrar, Paying Agent, Conversion Agent or co-registrar. 

  
 - 51 - 

 The Trustee shall have the right, but shall not be required, to rely upon and comply with
notices, instructions, directions or other communications sent by e-mail, facsimile and other similar unsecured electronic methods by persons believed by the Trustee to be authorized to give instructions and
directions on behalf of the Company. The Trustee shall have no duty or obligation to verify or confirm that the person who sent such instructions or directions is, in fact, a person authorized to give instructions or directions on behalf of the
Company; and the Trustee shall have no liability for any losses, liabilities, costs or expenses incurred or sustained by the Company as a result of such reliance upon or compliance with such notices, instructions, directions or other communications.
The Company agrees to assume all risks arising out of the use of such electronic methods to submit notices, instructions, directions or other communications to the Trustee, including without limitation the risk of the Trustee acting on unauthorized
instructions, and the risk of interception and misuse by third parties. The Company shall use all reasonable endeavors to ensure that any such notices, instructions, directions or other communications transmitted to the Trustee pursuant to the
Indenture are complete and correct. Any such notices, instructions, directions or other communications shall be conclusively deemed to be valid instructions from the Company to the Trustee for the purposes of the Indenture. 

Section 10.03    Communication by Holders with Other Holders. Securityholders may communicate
pursuant to TIA Section 312(b) with other Securityholders with respect to their rights under the Indenture or the Notes. 
 The
Company, the Trustee, the Registrar, the Paying Agent, the Conversion Agent and anyone else shall have the protection of TIA Section 312(c). 

Section 10.04    Separability Clause. In case any provision in this Supplemental Indenture or in
the Notes 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 10.05    Rules by Trustee, Paying Agent, Conversion Agent and Registrar. The Trustee may
make reasonable rules for action by or a meeting of Securityholders. The Registrar, the Conversion Agent and the Paying Agent may make reasonable rules for their functions. 

Section 10.06    Execution as Supplemental Indenture. The Indenture, as supplemented by this
Supplemental Indenture, is in all respects ratified and confirmed. This Supplemental Indenture is executed and shall be construed as an indenture supplemental to the Indenture and, as provided in the Indenture, the Indenture shall be and be deemed
to be modified and amended in accordance herewith, and all of the terms and conditions of this Supplemental Indenture shall be and be deemed to be part of the terms and conditions of the Indenture for any and all purposes. 

Section 10.07    Responsibility for Recitals, Etc. The recitals
herein and in the Notes (except in the Trustee’s certificate of authentication) shall be taken as the statements of the Company, and the Trustee assumes no responsibility for the correctness thereof. The Trustee makes no representations as to
the validity, sufficiency or adequacy of this Supplemental Indenture or of the Notes. The Trustee shall not be accountable for the use or application by the Company of the Notes or of the proceeds thereof. In entering into this Supplemental
Indenture, the Trustee shall be entitled to the benefit of every provision of the Base Indenture relating to the conduct of or affecting the liability of or affording protection to the Trustee. 

  
 - 52 - 

 Section 10.08    Governing Law. This Supplemental
Indenture and each Note shall be governed by and construed in accordance with the laws of the State of New York. 

Section 10.09    Counterparts. This Supplemental Indenture may be executed in any
number of counterparts, and by each party hereto on separate counterparts, each of which so executed shall be deemed to be an original, but all such counterparts shall together constitute but one and the same instrument. Signatures of the parties
hereto transmitted by facsimile or electronic (i.e., “.pdf” or “.tif”) transmission shall be deemed to be their original signatures for all purposes. 

Section 10.10    Tax Matters. Notwithstanding any other provision of this
Indenture, if the Company or other applicable withholding agent pays withholding taxes or backup withholding on behalf of a Holder or beneficial owner as a result of an adjustment to the Conversion Rate, the Company or other applicable withholding
agent may, at its option, set off such payments against payments of cash and shares of Common Stock on a Note (or any payments on the Common Stock) of or sales proceeds received by or other funds or assets of the Holder or beneficial owner. 

  
 - 53 - 

 IN WITNESS WHEREOF, the undersigned, being duly authorized, have executed this Supplemental
Indenture on behalf of the respective parties hereto as of the date first above written. 
  

			
	HELIX ENERGY SOLUTIONS GROUP, INC.
		
	By:	 	 /s/ Erik Staffeldt

	Name:	 	Erik Staffeldt
	Title:	 	Senior Vice President and Chief Financial Officer
	
	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Trustee
		
	By:	 	 /s/ Julie Hoffman-Ramos

	Name:	 	Julie Hoffman-Ramos
	Title:	 	Vice President

  
 [Signature Page to
Supplemental Indenture] 

 EXHIBIT A 

[FORM OF FACE OF GLOBAL NOTE] 

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY TO THE ISSUER OR ITS AGENT FOR
REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (AND ANY PAYMENT HEREON
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE
REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 TRANSFERS OF THIS GLOBAL NOTE SHALL BE LIMITED TO TRANSFERS TO
NOMINEES OF THE DEPOSITORY TRUST COMPANY, OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL NOTE SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN ARTICLE TWO OF THE
INDENTURE REFERRED TO ON THE REVERSE HEREOF. 

  
 A-1 

 HELIX ENERGY SOLUTIONS GROUP, INC. 

4.125% Convertible Senior Notes Due 2023 
  

			
	CUSIP: [                    ]	  	Principal Amount: $[                    ]
	No. [                    ]	  	Original Issue Date: [                    ]

 HELIX ENERGY SOLUTIONS GROUP, INC., a Minnesota corporation, promises to pay to Cede & Co. or
registered assigns, the principal amount of [                    ] Dollars
($[                    ]), on September 15, 2023. 

Interest Rate: 4.125% per year. 

Interest Payment Dates: March 15 and September 15 of each year, commencing
[                    ]. 
 Interest
Record Date: March 1 and September 1 of each year. 
 Except as otherwise provided in the Indenture referred to on the reverse
hereof, interest will accrue from, and including, the last Interest Payment Date as of which interest has been duly paid or provided for (or, if no such Interest Payment Date, from, and including,
[                    ]) to, but excluding, the next Interest Payment Date. 

Reference is hereby made to the further provisions of this Note set forth on the reverse side of this Note, which further provisions shall for
all purposes have the same effect as if set forth at this place. 

  
 A-2 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed under its
corporate seal. 
 Date: [                    ] 

 

			
	HELIX ENERGY SOLUTIONS GROUP, INC.
		
	By:	 	
                     
                                         
       

	Name:	 	  

	Title:	 	  

		
	By:	 	
                     
                                        

	Name:	 	
                     
                                         
                   

	Title:	 	  

  
 A-3 

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., 
 as Trustee,
certifies that this is one 
 of the Notes referred to in the 

within-mentioned Indenture. 
  

			
	By	 	  

		 	Authorized Signatory

 Dated:
[                    ] 

  
 A-4 

 [FORM OF REVERSE OF GLOBAL NOTE] 

4.125% Convertible Senior Notes Due 2023 

This Note is one of a duly authorized issue of 4.125% Convertible Senior Notes Due 2023 (the “Notes”) of Helix Energy
Solutions Group, Inc., a Minnesota corporation (including any successor corporation under the Indenture hereinafter referred to, the “Company”), issued under an Indenture, dated as of November 1, 2016 (the “Base
Indenture”), as supplemented by a Second Supplemental Indenture, dated as of March 20, 2018 (the “Supplemental Indenture” and together with the Base Indenture, the “Indenture”) between the Company and
The Bank of New York Mellon Trust Company, N.A., as trustee (the “Trustee”). The terms of the Note include those stated in the Indenture, those made part of the Indenture by reference to the Trust Indenture Act of 1939, as amended
(“TIA”), and those set forth in this Note. This Note 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, in the event of
any inconsistency between the terms of this Note and the terms of the Indenture, the terms of the Indenture shall control. Capitalized terms used but not defined herein have the meanings assigned to them in the Indenture unless otherwise indicated.

  

	1.	Interest. 

 The Notes shall bear interest on the principal amount thereof at a
rate of 4.125% per year. 
 Interest shall be payable semi-annually in arrears on each Interest Payment Date to Holders at the close of
business on the preceding Interest Record Date. Interest shall be computed on the basis of a 360-day year comprised of twelve 30 day months. 

The Company shall pay Interest to the Securityholder of record on the Interest Record Date even if the Company elects to redeem or
Securityholders elect to require the Company to repurchase, the Notes on a date that is after an Interest Record Date but on or prior to the corresponding Interest Payment Date. In that instance, the Company shall pay accrued and unpaid Interest on
the Notes being redeemed to, but not including, the Redemption Date or the Fundamental Change Repurchase Date, as the case may be, to the Securityholder of record on the Interest Record Date. 

If the principal amount of any Note, or any accrued and unpaid Interest, are not paid when due (whether upon acceleration pursuant to
Section 7.02 of the Indenture, upon the date set for payment of the Conversion Price Trigger Redemption Price pursuant to Section 5 hereof, upon the date set for payment of the Fundamental Change Repurchase Price pursuant to Section 6
hereof, upon the Stated Maturity of the Notes, or upon the Interest Payment Dates), then in each such case the overdue amount shall, to the extent permitted by law, bear cash interest at the rate of 4.125% per annum, compounded semiannually, which
interest shall accrue from the date such overdue amount was originally due to the date payment of such amount, including interest thereon, has been made or duly provided for. All such interest shall be payable in cash on demand but if not so
demanded shall be paid quarterly to the Holders on the last day of each quarter. 

  
 A-5 

	2.	Method of Payment. 

 Except as provided below, the Company will pay, in money of
the United States that at the time of payment is legal tender for payment of public and private debts, all amounts due in cash with respect to the Notes, which amounts shall be paid (A) in the case this Note is a Global Note, by wire transfer
of immediately available funds to the account designated by the Depositary or its nominee; (B) in the case this Note is a Certificated Note held by a Holder of more than five million dollars ($5,000,000) in aggregate principal amount of Notes,
by wire transfer of immediately available funds to the account specified by such Holder or, if such Holder does not specify an account, by mailing a check to the address of such Holder set forth in the register of the Registrar; and (C) in the
case this Note is a Certificated Note held by a Holder of five million dollars ($5,000,000) or less in aggregate principal amount of Notes, by mailing a check to the address of such Holder set forth in the register of the Registrar. 

At Stated Maturity, the Company shall pay Interest on Certificated Notes at the Company’s office or agency maintained for that purpose,
which initially shall be the office or agency of the Trustee located at 101 Barclay Street, New York, NY 10286. 
 Subject to the terms and
conditions of the Indenture, the Company shall make payments in cash in respect of Conversion Price Trigger Redemption Prices, Fundamental Change Repurchase Prices, and at Stated Maturity to Holders who surrender Notes to a Paying Agent to collect
such payments in respect of the Notes. The Company shall pay cash amounts in money of the United States that at the time of payment is legal tender for payment of public and private debts. However, the Company may make such cash payments by check
payable in such money. 
  

	3.	[Reserved]. 

  

	4.	Ranking; Additional Notes. 

 The Notes are general unsecured obligations of the
Company. The Company may, without the consent of the Holders, reopen the Indenture and issue additional Notes with the same terms subject to certain exceptions) as the Notes in an unlimited aggregate principal amount, provided that if the
additional Notes are not fungible with the Notes offered hereby for United States federal income tax purposes, then they must be issued with a different CUSIP number. The Notes and any such additional Notes would be treated as a single class for all
purposes under the Indenture and would vote together as one class on all matters with respect to the Notes. 
 The Indenture does not limit
other indebtedness of the Company, secured or unsecured. 
  

	5.	Redemption at the Option of the Company. 

 No sinking fund is provided for the
Notes. On or after March 15, 2021, the Company, at its option, may redeem (a “Conversion Price Trigger Redemption”) the Notes for U.S. legal tender (“cash”) at any time, in whole or in part, upon not less than
45 nor more than 65 Scheduled Trading Days’ notice, if the Closing Sale Price of the Common Stock has been at least 130% of the Conversion Price then in effect on (x) the Trading Day immediately preceding the date on which the Company
provides a notice of redemption and (y) for at least 20 Trading Days 

  
 A-6 

 
(whether or not consecutive) during any 30 consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the date on which the Company provides a notice of
redemption in accordance with Section 4.03 of the Supplemental Indenture. The redemption price for each $1,000 principal amount of Notes to be redeemed (the “Conversion Price Trigger Redemption Price”) shall be payable in cash
and shall be equal to the sum of (i) 100% of the principal amount of the Notes to be redeemed, plus (ii) accrued and unpaid interest, if any, to, but excluding, the Redemption Date, plus (iii) the Make-Whole Premium (as defined in the
Indenture). The Company must make these Make-Whole Premium payments on all Notes called for redemption prior to the Stated Maturity, including Notes subject to redemption that are converted after the date the Company delivered a notice of
redemption. 
 In no event shall any Note be redeemable before March 15, 2021. 

 

	6.	Purchase By the Company at the Option of the Holder. 

 At the option of the Holder
and subject to the terms and conditions of the Indenture, the Company shall become obligated to repurchase the Notes held by such Holder after the occurrence of a Fundamental Change for a Fundamental Change Repurchase Price equal to the principal
amount of those Notes plus accrued and unpaid Interest, if any, on those Notes up to, but not including, the Fundamental Change Repurchase Date. 

Holders have the right to withdraw any Note surrendered for repurchase 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 Notes or
portions thereof to be purchased as of the Fundamental Change Repurchase Date, as the case may be, is deposited with the Paying Agent, Interest shall cease to accrue on such Notes (or portions thereof) on and following such Fundamental Change
Repurchase Date, and the Holder thereof shall have no other rights as such other than the right to receive the Fundamental Change Repurchase Price upon surrender of such Note, subject to the terms of the Indenture. 

 

	7.	Notice of Redemption. 

 Notice of redemption pursuant to Section 5 of this
Note shall be sent at least forty-five (45) Scheduled Trading Days before the Redemption Date to each Holder to be redeemed. If money sufficient to pay the Conversion Price Trigger Redemption Price of all Notes (or portions thereof) to be
redeemed on the Redemption Date is deposited with the Paying Agent prior to or on the Redemption Date, immediately on and after such Redemption Date, Interest shall cease to accrue on such Notes or portions thereof, subject to the terms of the
Indenture. Notes in denominations larger than $1,000 principal amount may be redeemed in part but only in integral multiples of $1,000 of principal amount. 
  

	8.	Conversion. 

 Upon the occurrence of certain events and during certain periods,
the Notes shall be convertible into cash, shares of Common Stock, or a combination thereof in accordance with Article 9 of the Supplemental Indenture. To convert a Note, a Holder must satisfy the requirements of Section 9.02(a) of the
Supplemental Indenture. A Holder may convert a portion of a Note if the portion is $1,000 principal amount or an integral multiple of $1,000 principal amount. 

  
 A-7 

 Notwithstanding anything herein to the contrary, no Note may be converted after the close of
business on the Business Day immediately preceding the Stated Maturity. 
 Upon conversion of a Note, the Holder thereof shall be entitled
to receive the cash, shares of Common Stock, or a combination thereof, payable upon conversion in accordance with Article 9 of the Supplemental Indenture. 

The initial Conversion Rate is 105.6133 shares of Common Stock per $1,000 principal amount of Notes (which results in an effective initial
Conversion Price of approximately $9.47 per share) subject to adjustment in the event of certain circumstances as specified in the Indenture. The Company will deliver cash in lieu of any fractional share. 

The Conversion Rate applicable to each Note that is surrendered for conversion, in accordance with the Notes and Article 9 of the Supplemental
Indenture, at any time during the Make-Whole Conversion Period with respect to a Make-Whole Fundamental Change shall be increased to an amount equal to the Conversion Rate that would, but for Section 9.15 of the Supplemental Indenture,
otherwise apply to such Note pursuant to Article 9 of the Supplemental Indenture, plus an amount equal to the Make-Whole Applicable Increase. 
  

	9.	Paying Agent, Conversion Agent and Registrar. 

 Initially, the Trustee shall act as
Paying Agent, Conversion Agent and Registrar. The Company may appoint and change any Paying Agent, Conversion Agent or Registrar without notice, other than notice to the Trustee. The Company or any of its Subsidiaries or any of their Affiliates may
act as Paying Agent, Conversion Agent or Registrar. 
  

	10.	Denominations; Transfer; Exchange. 

 The Notes are in fully registered form, without
coupons, in denominations of $1,000 of principal amount and integral multiples of $1,000. A Holder may transfer or exchange Notes in accordance with the Indenture. The Registrar may require a Holder, among other things, to furnish appropriate
endorsements and transfer documents and to pay any taxes and fees required by law or permitted by the Indenture. The Registrar need not transfer or exchange any Notes selected for redemption (except, in the case of a Note to be redeemed in part, the
portion of the Note not to be redeemed) for a period of 15 days before the sending of a notice of redemption of Notes to be redeemed or any Notes in respect of which a Fundamental Change Repurchase Notice has been given and not withdrawn (except, in
the case of a Note to be purchased in part, the portion of the Note not to be purchased). 
  

	11.	Persons Deemed Owners. 

 The registered holder of this Note may be treated as the
owner of this Note for all purposes. 

  
 A-8 

	12.	Unclaimed Money or Notes. 

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

	13.	Amendment; Waiver. 

 Subject to certain exceptions set forth in the Indenture,
(i) the Indenture or the Notes may be amended with the written consent of the Holders of at least a majority in aggregate principal amount of the outstanding Notes and (ii) certain Events of Defaults may be waived with the written consent
of the Holders of a majority in aggregate principal amount of the outstanding Notes. Subject to certain exceptions set forth in the Indenture, without the consent of any Securityholder, the Company and the Trustee may amend the Indenture or the
Notes as set forth in Section 8.01 of the Indenture. 
  

	14.	Defaults and Remedies. 

 If any Event of Default with respect to Notes shall occur
and be continuing, the principal amount of the Notes and any accrued and unpaid Interest on all the Notes may be declared due and payable in the manner and with the effect provided in the Indenture. 

 

	15.	Trustee Dealings with the Company. 

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

	16.	Calculations in Respect of Notes. 

 The Company or its agents shall be responsible for
making all calculations called for under the Notes including, but not limited to, determination of the market prices for the Notes and of the Common Stock, the Conversion of the Notes, the Closing Sale Prices, the Volume-Weighted Average Prices,
Daily Settlement Amounts and the Conversion Rates of the Notes, including adjustments to any of the foregoing required by the Indenture. Any calculations made in good faith and without manifest error shall be final and binding on all Holders. The
Company or its agents shall be required to deliver to each of the Trustee and the Conversion Agent a schedule of its calculations and each of the Trustee and Conversion Agent shall be entitled to conclusively rely upon the accuracy of such
calculations without independent verification. 
  

	17.	United States Federal Income Tax Treatment. 

 The Company, and each Holder and beneficial
owner of a Note, agree to treat the Notes as indebtedness for United States federal income tax purposes. 

  
 A-9 

	18.	No Recourse Against Others. 

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

	19.	Authentication. 

 This Note shall not be valid until an authorized signatory of the
Trustee manually signs the Trustee’s Certificate of Authentication on the other side of this Note. 
  

	20.	Abbreviations. 

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

 

	21.	Governing Law. 

 THE LAWS OF THE STATE OF NEW YORK SHALL GOVERN THE INDENTURE AND THIS
NOTE. 
  

	22.	Copy of Indenture. 

 The Company shall furnish to any Securityholder upon written request
and without charge a copy of the Indenture that has in it the text of this Note in larger type. Requests may be made to: 
 Helix Energy
Solutions Group, Inc. 
 3505 West Sam Houston Parkway North Suite 400 

Houston, TX 77043 
 Attn: General
Counsel 
 Facsimile No.: 281-618-0505 

  
 A-10 

			
	 ASSIGNMENT FORM
	  	 CONVERSION NOTICE

	To assign this Note, fill in the form below:	  	To convert this Note, check the box   ☐
		
	 I or we assign and transfer this Note to

                          
                                         
 

                          
                                         
 
 (Insert assignee’s soc. sec. or tax ID no.)
	  	To convert only part of this Note, state the principal amount to be converted (which must be $1,000 or an integral multiple of $1,000):
	
                          
                                         
  

                          
                                         
 

                          
                                         
 
 (Print or type assignee’s name, address and

                    zip code)

 
             and irrevocably
appoint
	  	 If you want the stock certificate made out in another person’s name fill in the form below:

                          
                                         
                             

                          
                                         
                             

(Insert the other person’s soc. sec. tax ID no.)

                          
                                         
                             

                          
                                         
                             

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

                          
                                         
                             

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

 

			
	
Date:                      Your 
Signature:                         

                          
                                         
              
  

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

	
	 Signature Guaranteed
  

	
	Participant in a Recognized Signature
	
	Guarantee Medallion Program

			
		
	By:	 	  

		 	Authorized Signatory

  
 A-11 

 SCHEDULE OF INCREASES AND DECREASES 

OF GLOBAL NOTE 
 Initial Principal Amount of
Global Note: [                    ] ($[        ]). 

 

									
	 Date
	 	 Amount of

Increase in

Principal Amount
 of

Global Note
	 	 Amount of

Decrease in

Principal Amount
 of

Global Note
	 	 Principal Amount
of Global Note

After
 Increase or

Decrease
	 	 Notation by

Registrar or

Note Custodian

		 		 		 		 	
	  
	 	  
	 	  
	 	  
	 	  

  
 A-12 

 EXHIBIT B 

[FORM OF FACE OF CERTIFICATED NOTE] 

HELIX ENERGY SOLUTIONS GROUP, INC. 

4.125% Convertible Senior Notes Due 2023 
 CUSIP:
[                    ] 
 Principal Amount:
$[        ] 
 No.
                     
 HELIX ENERGY
SOLUTIONS GROUP, INC., a Minnesota corporation, promises to pay to [                    ] or registered assigns, the principal amount of
[                    ], on September 15, 2023. 

Interest Rate: 4.125% per year. 

Interest Payment Dates: March 15 and September 15 of each year, commencing
[                    ]. 
 Interest
Record Date: March 1 and September 1 of each year. 
 Except as otherwise provided in the Indenture referred to on the reverse
hereof, interest will accrue from, and including, the last Interest Payment Date as of which interest has been duly paid or provided for (or, if no such Interest Payment Date, from, and including,
[                    ]) to, but excluding, the next Interest Payment Date. 

Reference is hereby made to the further provisions of this Note set forth on the reverse side of this Note, which further provisions shall for
all purposes have the same effect as if set forth at this place. 

  
 B-1 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed under its
corporate seal. 
 Date: [                    ] 

 

			
	HELIX ENERGY SOLUTIONS GROUP, INC.
		
	By:	 	
                     
                                         
           

	Name:	 	  

	Title:	 	  

		
	By:	 	
                     
                                         
       

	Name:	 	  

	Title:	 	  

  
 B-2 

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., 
 as Trustee,
certifies that this is one 
 of the Notes referred to in the 

within-mentioned Indenture. 
  

			
	By	 	
                     
                                        

	Authorized Signatory

 Dated:
[                    ] 

  
 B-3 

 [FORM OF REVERSE OF CERTIFICATED NOTE IS IDENTICAL TO 

EXHIBIT A] 

  
 B-4 

 EXHIBIT C 

HELIX ENERGY SOLUTIONS GROUP, INC. 

NOTICE OF REDEMPTION 
 [DATE] 

CUSIP Number: [                    ]* 
 To the Holders of the 4.125% Convertible Senior Notes Due 2023 issued by Helix Energy Solutions
Group, Inc.: 
 Helix Energy Solutions Group, Inc. (the “Issuer”) by this written notice hereby exercises, pursuant to
Section 4.01 of that certain Indenture, dated as of November 1, 2016 (the “Base Indenture”), as supplemented by a Second Supplemental Indenture, dated as of March 20, 2018 (the “Supplemental
Indenture” and together with the Base Indenture, the “Indenture”), between the Issuer and The Bank of New York Mellon Trust Company, N.A., as Trustee (the “Trustee”) its right to redeem
$[        ] aggregate principal amount of its 4.125% Convertible Senior Notes Due 2023 (the “Notes”). All capitalized terms used herein and not otherwise defined herein shall have the meanings
assigned to such terms in the Indenture. 
 Notice is hereby given pursuant to Section 4.03 of the Supplemental Indenture of the following: 

1.    Redemption Date:
[                    ] 

2.    Conversion Price Trigger Redemption Price: $[        ] 

3.    Conversion Rate: The Notes are convertible at your option based on a current Conversion Rate of
[        ] shares of the Issuer’s common stock, no par value, per $1,000 principal amount of Notes, subject to adjustment, during the period described below. 

4.    In order to receive payment of the [Conversion Price Trigger Redemption/Fundamental Change Repurchase] Price or the Conversion
Price, as applicable, the Notes must be surrendered to the Paying Agent or the Conversion Agent, as applicable, at the appropriate address set forth below, by such method as you deem appropriate. If you mail your Notes, we recommend that for your
own protection you may want to use registered mail, return receipt requested. 
  

 

	* 	The CUSIP numbers have been assigned to this issue by Standard & Poor’s Corporation and are included solely for the convenience of the Holders. Neither the Issuer nor the Trustee is responsible for the
selection or use of the CUSIP number and no representation is hereby made regarding the correctness or accuracy of CUSIP number on the Notes. 

  
 C-1 

					
	 By First

Class/Registered/Certified
 Mail
	 	 By Express/Overnight

Delivery
	 	 By Hand or In Person

	The Bank of New York Mellon Trust Company, N.A.	 	The Bank of New York Mellon Trust Company, N.A.	 	The Bank of New York Mellon Trust Company, N.A.
	[                  	 	[                  	 	[                  
	                    	 	                    	 	                    
	Attn:                             ]	 	Attn:                             ]	 	Attn:                             ]

 1.    The Notes called for redemption may be converted at your option at any time from the date of this
Notice of Redemption until 5:00 p.m. on the Business Day immediately prior to the Redemption Date set forth above. 
 2.    The Notes
called for redemption and not converted at your election prior to 5:00 p.m. on the Business Day immediately prior to Redemption Date set forth above shall be redeemed on the Business Day immediately following such Redemption Date. 

3.    If you elect to convert your Notes, you must satisfy the requirements for conversion set forth in your Notes. 

4.    In order for you to collect the Conversion Price Trigger Redemption Price, the Notes called for redemption must be surrendered by
you by (i) effecting book entry transfer of the Notes or (ii) delivering Certificated Notes, together with necessary endorsements, as the case may be to the appropriate address set forth below, by such method as you deem appropriate. If
you mail your Notes, we recommend that for your own protection you may want to use registered mail, return receipt requested. 
  

					
	 By First

Class/Registered/Certified
 Mail
	 	 By Express/Overnight

Delivery
	 	 By Hand or In Person

	The Bank of New York Mellon Trust Company, N.A.	 	The Bank of New York Mellon Trust Company, N.A.	 	The Bank of New York Mellon Trust Company, N.A.
	[                  	 	[                  	 	[                  
	                    	 	                    	 	                    
	Attn:                             ]	 	Attn:                             ]	 	Attn:                             ]

 5.    [The Notes bearing the following Certificate Number(s) in the principal amount set forth below
opposite such Certificate Number(s) are being redeemed: 
 Certificate Number(s)     Principal Amount] 

6.    Unless the Company defaults in making the payment of the Conversion Price Trigger Redemption Price owed to you, Interest on your
Notes called for redemption shall cease to accrue on and after the Redemption Date. 

  
 C-2 

 PLEASE TAKE FURTHER NOTICE that, all payments of the [Conversion Price Trigger
Redemption/Fundamental Change Repurchase] Price or Conversion Price, as applicable, in respect of the Notes shall be payable only to the extent that the requisite funds have actually been received or are being held by the Trustee in respect of the
Notes, and the Trustee shall have no obligation to make any such payments to a holder of any Note except in respect of such funds. 
 Any
questions regarding the foregoing may be directed to the Issuer, at: 
 Helix Energy Solutions Group, Inc. 

3505 West Sam Houston Parkway North, Suite 400 

Houston, Texas 77043 
 Attention:
General Counsel 
 HELIX ENERGY SOLUTIONS GROUP, INC. 

IMPORTANT TAX INFORMATION 
 Under current
United States federal income tax law, an agent making payments with respect to the Notes may be obligated to withhold from payments to a Holder. Holders who are United States persons as defined in the Internal Revenue Code of 1986, as amended, who
wish to avoid the application of these withholding provisions should submit a completed IRS Form W-9 when presenting the Notes for payment. Holders who are not United States persons should submit an
appropriate completed IRS Form W-8. 

  
 C-3 

 EXHIBIT D 

HELIX ENERGY SOLUTIONS GROUP, INC. 

NOTICE OF OCCURRENCE 
 OF
FUNDAMENTAL CHANGE 
 [DATE] 
 CUSIP Number:
[                    ]* 

To the Holders of the 4.125% Convertible Senior Notes Due 2023 (the “Notes”) issued by Helix Energy Solutions Group, Inc.: 

Helix Energy Solutions Group, Inc. (the “Issuer”) by this written notice hereby notifies you, pursuant to Section 4.07
of that certain Second Supplemental Indenture, dated as of March 20, 2018 (the “Supplemental Indenture”) to that certain Indenture, dated as of November 1, 2016 (the “Base Indenture” and, together with the
Supplemental Indenture, the “Indenture”), between the Issuer and The Bank of New York Mellon Trust Company, N.A., as Trustee (the “Trustee”) that a Fundamental Change (as such term and other capitalized terms used
herein and not otherwise defined herein are defined in the Indenture) as described below has occurred. Included herewith is the form of Fundamental Change Repurchase Notice to be completed by you if you wish to have your Notes repurchased by the
Issuer. 
 1.    Fundamental Change: [Insert brief description of the Fundamental Change and the date of the occurrence thereof].

 2.    Date by which Fundamental Change Repurchase Notice must be delivered by you to Paying Agent in order to have your Notes
repurchased: 
 3.    Fundamental Change Repurchase Date: 

4.    Fundamental Change Repurchase Price: 

5.    Paying Agent and Conversion Agent: 

6.    Conversion Rate: To the extent described in Item 7 below, the Notes are convertible based on a current Conversion Rate of
[                ] shares of the Issuer’s common stock, no par value (the “Common Stock”), per $1,000 principal amount of Notes, subject to
adjustment. 
 7.    The Notes as to which you have delivered a Fundamental Change Repurchase Notice to the Paying Agent may be
converted if they are otherwise convertible pursuant to Article 9 of the Supplemental Indenture and the terms of the Notes only if you withdraw such Fundamental 

 

	* 	 The CUSIP numbers have been assigned to this issue by Standard & Poor’s Corporation and are
included solely for the convenience of the Holders. Neither the Issuer nor the Trustee is responsible for the selection or use of the CUSIP number and no representation is hereby made regarding the correctness or accuracy of CUSIP number on the
Notes. 

  
 D-1 

 
Change Repurchase Notice pursuant to the terms of the Indenture. You may be entitled to have your Notes converted into shares of Common Stock (or, at the option of the Issuer, cash or a
combination of cash and shares of Common Stock): 
 (i)    during any fiscal quarter commencing after June 30, 2018
(and only during such fiscal quarter), if the Closing Sale Price of the Common Stock for at least 20 Trading Days (whether or not consecutive) in the 30 Trading Day period ending on the last Trading Day of the preceding fiscal quarter was 130% or
more of the Conversion Price on such last Trading Day; 
 (ii)    if the Issuer has called the Notes for redemption; or

 (iii)    upon the occurrence of certain specified corporate transactions described in the Indenture. 

8.    In order for you to collect the Fundamental Change Repurchase Price, the Notes as to which you have delivered a Fundamental Change
Repurchase Notice must be surrendered by you by (i) effecting book entry transfer of the Notes or (ii) delivering Certificated Notes, together with necessary endorsements, as the case may be to the appropriate address set forth below, by
such method as you deem appropriate. If you mail your Notes, we recommend that for your own protection you may want to use registered mail, return receipt requested. 
  

					
	 By First

Class/Registered/Certified
 Mail
	  	 By Express/Overnight

Delivery
	  	 By Hand or In Person

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

                     
	  	 [                    

                     
	  	 [                    

                     

	Attn:                     ]	  	Attn:                     ]	  	Attn:                     ]

 9.    The Fundamental Change Repurchase Price for the Notes as to which you have delivered a Fundamental
Change Repurchase Notice and not withdrawn such Notice shall be paid promptly following the later of the Business Day immediately following such Fundamental Change Repurchase Date and the date you deliver such Notes to The Bank of New York Mellon
Trust Company, N.A. 
 10.    In order to have the Issuer repurchase your Notes, you must deliver the Fundamental Change Repurchase
Notice attached hereto, duly completed by you with the information required by such Fundamental Change Repurchase Notice and deliver such Fundamental Change Repurchase Notice to the Paying Agent at any time from 9:00 a.m. on the date of the
occurrence of the Change of Control until 5:00 p.m. on the Fundamental Change Repurchase Date. 
 11.    In order to withdraw any
Fundamental Change Repurchase Notice previously delivered by you to the Paying Agent, you must deliver to the Paying Agent, by 5:00 p.m. on the Fundamental Change Repurchase Date, a written notice of withdrawal specifying (i) the certificate
number, if any, of the Notes in respect of which such notice of withdrawal is being 

  
 D-2 

 
submitted, (ii) the principal amount of the Notes in respect of which such notice of withdrawal is being submitted and (iii) if you are not withdrawing your Fundamental Change
Repurchase Notice for all of your Notes, the principal amount of the Notes that still remain subject to the original Fundamental Change Repurchase Notice. 

12.    Unless the Issuer defaults in making the payment of the Fundamental Change Repurchase Price owed to you, Interest on your Notes as
to which you have delivered a Fundamental Change Repurchase Notice shall cease to accrue on and after the Fundamental Change Repurchase Date. 

  
 D-3 

 PLEASE TAKE FURTHER NOTICE that, all payments of the [Conversion Price Trigger
Redemption/Fundamental Change Repurchase] Price or Conversion Price, as applicable, in respect of the Notes shall be payable only to the extent that the requisite funds have actually been received or are being held by the Trustee in respect of the
Notes, and the Trustee shall have no obligation to make any such payments to a holder of any Note except in respect of such funds. 
 Any
questions regarding the foregoing may be directed to the Issuer, at: 
 Helix Energy Solutions Group, Inc. 

3505 West Sam Houston Parkway North, Suite 400 

Houston, Texas 77043 
 Attention:
General Counsel 
 HELIX ENERGY SOLUTIONS GROUP, INC. 

IMPORTANT TAX INFORMATION 
 Under current
United States federal income tax law, an agent making payments with respect to the Notes may be obligated to withhold from payments to a Holder. Holders who are United States persons as defined in the Internal Revenue Code of 1986, as amended, who
wish to avoid the application of these withholding provisions should submit a completed IRS Form W-9 when presenting the Notes for payment. Holders who are not United States persons should submit an
appropriate completed IRS Form W-8. 

  
 D-4 

 FORM OF FUNDAMENTAL CHANGE REPURCHASE NOTICE 

To: [Name of Paying Agent] 
 The
undersigned registered owner of this Note hereby acknowledges receipt of a notice from Helix Energy Solutions Group, Inc. (the “Issuer”) pursuant to Section 4.07 of that certain Second Supplemental Indenture, dated as of
March 20, 2018 (the “Supplemental Indenture”) to that certain Indenture, dated as of November 1, 2016 (the “Base Indenture” and, together with the Supplemental Indenture, the “Indenture”),
between the Issuer and The Bank of New York Mellon Trust Company, N.A., as Trustee, and requests and instructs the Issuer to purchase the entire principal amount of this Note, or the portion thereof (which is $1,000 or an integral multiple thereof)
below designated, in accordance with the terms of the Note and the Indenture at the Fundamental Change Repurchase Price, together with accrued and unpaid interest, to, but not including, the Fundamental Change Repurchase Date, to the registered
Holder hereof. 
  

							
	Date:	 	  
	 		 	  

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

		 		 		 	Signature Guaranty

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

                          
                                         
              
 Certificate number (if applicable): 

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

  
 D-5 

 EXHIBIT E 

CONVERSION NOTICE 
 To convert this Note in
accordance with the Indenture, check the box:  ☐ 
 To convert only part of this Note, state the principal amount to be converted (must be
in integral multiples of $1,000): 
 $              

If you want the stock certificate representing the Common Stock, if any, issuable upon conversion made out in another person’s name, fill in the form
below: 
  
  

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

 
  

 
  

 
  

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

                          
                                         
                                         
                                         
        
  

			
	 Date:
                    
	 	 Signature(s):
                                         
                                       

		 	  

                   
                                         
                                         
                   

		 	 (Sign exactly as your name(s) appear(s) on the other side of this
Note)

  

			
	Signature(s) guaranteed by:	 	                                     
                                         
      

 (All signatures must be guaranteed by a guarantor institution participating in the Securities Transfer Agents
Medallion Program or in such other guarantee program acceptable to the Trustee.) 

  
 E-1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00281-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00281-of-00352.parquet"}]]