Document:

EX-4.1

 Exhibit 4.1 

 
  
 CORNERSTONE ONDEMAND, INC. 
 AS ISSUER

 1.50% CONVERTIBLE SENIOR NOTES DUE 2018 

 
  

INDENTURE 

DATED AS OF JUNE 17, 2013 

 
  

U.S. BANK NATIONAL ASSOCIATION 
 AS TRUSTEE 
  

 

 TABLE OF CONTENTS 

 

									
	 	  	 	  	 	  	Page	 
		
	ARTICLE 1. DEFINITIONS AND INCORPORATION BY REFERENCE	  	 	1	  
				
		  	Section 1.01	  	Definitions	  	 	1	  
		  	Section 1.02	  	Other Definitions	  	 	9	  
		  	Section 1.03	  	Incorporation by Reference of Trust Indenture Act	  	 	10	  
		  	Section 1.04	  	Rules of Construction	  	 	10	  
		  	Section 1.05	  	Acts of Holders	  	 	10	  
		
	ARTICLE 2. THE NOTES	  	 	11	  
				
		  	Section 2.01	  	Form and Dating	  	 	11	  
		  	Section 2.02	  	Execution and Authentication	  	 	13	  
		  	Section 2.03	  	Registrar, Paying Agent and Conversion Agent	  	 	13	  
		  	Section 2.04	  	Paying Agent to Hold Money and Notes in Trust	  	 	14	  
		  	Section 2.05	  	Holder Lists	  	 	14	  
		  	Section 2.06	  	Transfer and Exchange	  	 	15	  
		  	Section 2.07	  	Replacement Notes	  	 	18	  
		  	Section 2.08	  	Outstanding Notes	  	 	18	  
		  	Section 2.09	  	Temporary Notes	  	 	19	  
		  	Section 2.10	  	Cancellation	  	 	19	  
		  	Section 2.11	  	Persons Deemed Owners	  	 	19	  
		  	Section 2.12	  	Transfer of Notes	  	 	20	  
		  	Section 2.13	  	CUSIP and ISIN Numbers	  	 	24	  
		  	Section 2.14	  	Additional Notes; Repurchases	  	 	24	  
		
	ARTICLE 3. REDEMPTION AND REPURCHASES	  	 	25	  
				
		  	Section 3.01	  	No Company Right to Redeem	  	 	25	  
		  	Section 3.02	  	Fundamental Change Permits Holders to Require Company to Purchase Notes	  	 	25	  
		  	Section 3.03	  	Fundamental Change Conversion Right Notice	  	 	25	  
		  	Section 3.04	  	Fundamental Change Purchase Notice	  	 	26	  
		  	Section 3.05	  	Effect of Fundamental Change Purchase Notice	  	 	27	  
		  	Section 3.06	  	Deposit of Fundamental Change Purchase Price	  	 	28	  
		  	Section 3.07	  	Notes Purchased in Part	  	 	28	  
		  	Section 3.08	  	Covenant to Comply with Securities Laws Upon Purchase of Notes	  	 	28	  
		  	Section 3.09	  	Repayment to the Company	  	 	29	  
		  	Section 3.10	  	Covenant Not to Purchase Notes Upon Certain Events of Default	  	 	29	  
		
	ARTICLE 4. COVENANTS	  	 	29	  
				
		  	Section 4.01	  	Payment of Notes	  	 	29	  
		  	Section 4.02	  	SEC and Other Reports	  	 	30	  
		  	Section 4.03	  	Compliance Certificate	  	 	31	  

  
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		  	Section 4.04	  	Further Instruments and Acts	  	 	32	  
		  	Section 4.05	  	Maintenance of Office or Agency	  	 	32	  
		  	Section 4.06	  	Delivery of Certain Information	  	 	32	  
		  	Section 4.07	  	Par Value Limitation	  	 	32	  
		
	ARTICLE 5. CONSOLIDATION, MERGER AND SALE OF ASSETS	  	 	32	  
				
		  	Section 5.01	  	Company May Consolidate, Merge or Sell Its Assets on Certain Terms	  	 	32	  
		  	Section 5.02	  	Successor Corporation to Be Substituted	  	 	33	  
		
	ARTICLE 6. DEFAULTS AND REMEDIES	  	 	34	  
				
		  	Section 6.01	  	Events of Default	  	 	34	  
		  	Section 6.02	  	Acceleration	  	 	36	  
		  	Section 6.03	  	Other Remedies	  	 	37	  
		  	Section 6.04	  	Waiver of Past Defaults	  	 	37	  
		  	Section 6.05	  	Control by Majority	  	 	37	  
		  	Section 6.06	  	Limitation on Suits	  	 	37	  
		  	Section 6.07	  	Rights of Holders to Receive Payment	  	 	38	  
		  	Section 6.08	  	Collection Suit by Trustee	  	 	38	  
		  	Section 6.09	  	Trustee May File Proofs of Claim	  	 	38	  
		  	Section 6.10	  	Priorities	  	 	38	  
		  	Section 6.11	  	Undertaking for Costs	  	 	39	  
		  	Section 6.12	  	Waiver of Stay, Extension or Usury Laws	  	 	39	  
		
	ARTICLE 7. TRUSTEE	  	 	39	  
				
		  	Section 7.01	  	Duties of Trustee	  	 	39	  
		  	Section 7.02	  	Rights of Trustee	  	 	40	  
		  	Section 7.03	  	Individual Rights of Trustee	  	 	42	  
		  	Section 7.04	  	Trustee’s Disclaimer	  	 	42	  
		  	Section 7.05	  	Notice of Defaults	  	 	42	  
		  	Section 7.06	  	Reports by Trustee to Holders	  	 	42	  
		  	Section 7.07	  	Compensation and Indemnity	  	 	42	  
		  	Section 7.08	  	Replacement of Trustee	  	 	43	  
		  	Section 7.09	  	Successor Trustee by Merger	  	 	44	  
		  	Section 7.10	  	Eligibility; Disqualification	  	 	44	  
		  	Section 7.11	  	Preferential Collection of Claims Against Company	  	 	44	  
		  	Section 7.12	  	Trustee’s Application for Instructions from the Company	  	 	45	  
		
	ARTICLE 8. DISCHARGE OF INDENTURE	  	 	45	  
				
		  	Section 8.01	  	Discharge of Liability on Notes	  	 	45	  
		  	Section 8.02	  	Repayment to the Company	  	 	45	  

  
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	ARTICLE 9. AMENDMENTS	  	 	45	  
				
		  	Section 9.01	  	Without Consent of Holders	  	 	45	  
		  	Section 9.02	  	With Consent of Holders	  	 	46	  
		  	Section 9.03	  	Execution of Supplemental Indentures	  	 	47	  
		  	Section 9.04	  	Notices of Supplemental Indentures	  	 	47	  
		  	Section 9.05	  	Effect of Supplemental Indentures	  	 	47	  
		  	Section 9.06	  	Conformity with Trust Indenture Act	  	 	47	  
		  	Section 9.07	  	Notation on or Exchange of Notes	  	 	48	  
		  	Section 9.08	  	Revocation and Effect of Consents, Waivers and Actions	  	 	48	  
		
	ARTICLE 10. CONVERSIONS	  	 	48	  
				
		  	Section 10.01	  	Conversion Privilege and Consideration	  	 	48	  
		  	Section 10.02	  	Conversion Procedure	  	 	51	  
		  	Section 10.03	  	Settlement Upon Conversion	  	 	53	  
		  	Section 10.04	  	Company to Provide Stock	  	 	54	  
		  	Section 10.05	  	Adjustments to the Conversion Rate	  	 	55	  
		  	Section 10.06	  	Effect of Reclassification, Consolidation, Merger or Sale	  	 	65	  
		  	Section 10.07	  	Adjustment to Conversion Rate Upon Certain Transactions	  	 	67	  
		  	Section 10.08	  	Miscellaneous	  	 	69	  
		
	ARTICLE 11. PAYMENT OF INTEREST	  	 	69	  
				
		  	Section 11.01	  	Payment of Interest	  	 	69	  
		  	Section 11.02	  	Defaulted Interest	  	 	70	  
		  	Section 11.03	  	Interest Rights Preserved	  	 	71	  
		
	ARTICLE 12. MISCELLANEOUS	  	 	71	  
				
		  	Section 12.01	  	Trust Indenture Act Controls	  	 	71	  
		  	Section 12.02	  	Notices	  	 	71	  
		  	Section 12.03	  	Communication by Holders with Other Holders	  	 	72	  
		  	Section 12.04	  	Certificate and Opinion as to Conditions Precedent	  	 	72	  
		  	Section 12.05	  	Statements Required in Certificate or Opinion	  	 	72	  
		  	Section 12.06	  	Separability Clause	  	 	73	  
		  	Section 12.07	  	Rules by Trustee	  	 	73	  
		  	Section 12.08	  	Governing Law	  	 	73	  
		  	Section 12.09	  	No Recourse Against Others	  	 	73	  
		  	Section 12.10	  	Calculations	  	 	73	  
		  	Section 12.11	  	Successors	  	 	73	  
		  	Section 12.12	  	Multiple Originals	  	 	73	  
		  	Section 12.13	  	Table of Contents; Headings	  	 	73	  
		  	Section 12.14	  	Force Majeure	  	 	74	  
		  	Section 12.15	  	Submission to Jurisdiction	  	 	74	  
		  	Section 12.16	  	Legal Holidays	  	 	74	  
		  	Section 12.17	  	No Security Interest Created	  	 	74	  

  
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		 	Section 12.18	  	Benefits of Indenture	  	 	74	  
		
	Form of Note	  	 	1	  
		
	Form of Transfer Certificate	  	 	1	  
		
	Restricted Stock Legend	  	 	1	  

  
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 INDENTURE dated as of June 17, 2013 between Cornerstone OnDemand, Inc., a Delaware
corporation (“Company”), and U.S. Bank National Association, as trustee (“Trustee”). 
 Each
party agrees as follows for the benefit of the other party and for the equal and ratable benefit of the Holders of the Company’s 1.50% Convertible Senior Notes due 2018: 
 ARTICLE 1. 
 DEFINITIONS AND INCORPORATION BY REFERENCE 

Section 1.01 Definitions. 
 “Affiliate” of any specified Person means any other Person, directly or indirectly, controlling or controlled by or under direct or indirect common control with such specified Person. For
the purposes of this definition, “control” when used with respect to any specified Person means the power to direct or cause the direction of the management and policies of such Person, directly or indirectly, whether through the
ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the foregoing. 

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

“Bankruptcy Law” means Title 11, United States Code, or any similar U.S. federal, state or non-U.S. law for the
relief of debtors. 
 “Bid Solicitation Agent” means the Trustee or such other Person as may be appointed from
time to time by the Company, without prior notice to the Holders, to solicit market bid quotations for the Notes in accordance with Section 10.01(a)(ii). 
 “Board of Directors” means the board of directors of the Company or a committee of such board duly authorized to act for it. 

“Board Resolution” means a copy of one or more resolutions certified by the Secretary or an Assistant Secretary of the
Company to have been duly adopted by the Board of Directors and to be in full force and effect on the date of such certification, and delivered to the Trustee. 
 “Business Day” means any day other than a Saturday, a Sunday or other day on which banking institutions are authorized or required by law, regulation or executive order to close or be
closed in the State of New York. 
 “Capital Stock” means, for any Person, any and all shares, interests,
rights to purchase, warrants, options, participations or other equivalents of or interests in (however designated) the equity of such Person, but excluding any debt securities convertible into such equity. 

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

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

“Common Stock” means the shares of the common stock of the Company, par value $0.0001 per share, existing on the Issue
Date or any other shares of Capital Stock of the Company into which such shares of common stock shall be reclassified or changed. 
 “Company” means the party named as such in the first paragraph of this Indenture until a successor or assign replaces it pursuant to the applicable provisions hereof and, thereafter,
means the successor or assign. 
 “Company Order” means a written request or order signed in the name of the
Company by any Officer. 
 “Conversion Price” means as of any date, $1,000 divided by the Conversion Rate as of
such date. 
 “Corporate Trust Office” means the corporate trust office of the Trustee at
which at any time the trust created by this Indenture shall be administered, which office at the date hereof is located at 633 West 5th Street, 24th Floor, Los Angeles, California 90071, Attention: Corporate Trust Services (Cornerstone OnDemand, Inc. 1.50%
Convertible Senior Notes due 2018), or such other address as the Trustee may designate from time to time by notice to the Holders and the Company, or the corporate trust office of any successor Trustee at which such trust shall be administered (or
such other address as a successor Trustee may designate from time to time by notice to the Holders and the Company). 

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

 “Daily Conversion Value” means, for each of the 40 consecutive VWAP Trading Days during the Observation
Period, one-fortieth (1/40th) of the product of (i) the Conversion Rate on such VWAP Trading Day and (ii) the Daily VWAP on such VWAP Trading Day. 
 “Daily Settlement Amount” means, for each of the 40 consecutive VWAP Trading Days during the applicable Observation Period: 

(a) cash equal to the lesser of (i) $25 and (ii) the Daily Conversion Value; and 

(b) to the extent the Daily Conversion Value for such VWAP Trading Day exceeds $25 for such VWAP Trading Day, a number of shares of
Common Stock (the “Daily Share Amount”), subject to the Company’s right to pay cash in lieu of all or a portion of such number of shares of Common Stock pursuant to Section 10.03(b), equal to the fraction, the numerator of
which equals the excess of the Daily Conversion Value for such VWAP Trading Day over $25 for such Trading Day, and the denominator of which equals the Daily VWAP for such VWAP Trading Day. 

“Daily VWAP” means, for any of the 40 consecutive VWAP Trading Days during the applicable Observation Period, the per
share volume-weighted average price of the Common Stock as displayed under the heading “Bloomberg VWAP” on Bloomberg page “CSOD.Q 

  
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<equity> AQR” (or its equivalent successor thereto if such page it not available) in respect of the period from the scheduled open of trading until the scheduled close of trading of
the primary trading session on such VWAP Trading Day (or if such volume-weighted average price is unavailable, the market value of one share of the Common Stock on such VWAP Trading Day, reasonably determined, using a volume-weighted average method,
by a nationally recognized independent investment banking firm retained for this purpose by the Company). The Daily VWAP will be determined without regard to after hours trading or any other trading outside of the regular trading session trading
hours. On and after the occurrence of a Merger Event, the Daily VWAP for a Unit of Reference Property means, for any of the 40 VWAP Trading Days during an Observation Period, the fair market value of a Unit of Reference Property as determined, in a
commercially reasonable manner, using a volume-weighted average method, if possible, by the Board of Directors. 

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

 “DTC” mean The Depository Trust Company. 

“Ex-Dividend Date” means, with respect to any issuance, dividend or distribution, the first date on which the shares of
Common Stock trade on the Relevant Stock Exchange, regular way, without the right to receive the issuance, dividend or distribution in question from the Company or, if applicable, from the seller of the Common Stock on the Relevant Stock Exchange
(in the form of due bills or otherwise) as determined by the Relevant Stock Exchange. 
 “Exchange Act” means
the Securities Exchange Act of 1934, as amended. 
 “Free Trade Date” means the one-year anniversary of the
last original issuance date of the Notes. 
 “Freely Tradable” means, with respect to the Notes and the shares
of Common Stock issuable upon conversion of the Notes, if any, that such Notes or such shares of Common Stock, if any, (i) are eligible to be sold by a Person who has not been an Affiliate of the Company during the preceding three months
without any volume or manner of sale restrictions under the Securities Act, (ii) do not bear a Restricted Securities Legend or Restricted Stock Legend and (iii) with respect to Global Notes only, are identified by an unrestricted CUSIP
number in the facilities of the applicable depositary. 
 “Fundamental Change” means an event that shall be
deemed to have occurred at the time after the Issue Date if any of the following occurs: 
 (1) any “person” or
“group” within the meaning of Section 13(d) of the Exchange Act, other than the Company, its Subsidiaries and the employee benefits plans of the Company and of its Subsidiaries, files a Schedule TO or any schedule, form or report
under the Exchange Act disclosing that such person has become the direct or indirect “beneficial owner” as defined in Rule 13d-3 under the Exchange Act, of the shares of the Company’s Capital Stock representing more than 50% of the
total voting power of the Company’s common equity; 

  
 3 

 (2) the consummation of (A) any recapitalization, reclassification or change of the
Common Stock (other than changes resulting from a subdivision or combination) as a result of which the Common Stock would be converted into, or exchanged for, cash, securities or other property or assets; (B) any consolidation, merger,
combination, statutory or binding share exchange or similar transaction involving the Company pursuant to which the Common Stock will be converted into cash, securities or other property or assets; or (C) any sale, conveyance, lease or other
transfer or similar transaction in one transaction or a series of related transactions of all or substantially all of the consolidated assets of the Company and the Company’s Subsidiaries, taken as a whole, to any Person other than one or more
of the Company’s Subsidiaries; provided, however, that a transaction described in clause (A) or (B) in which the holders of all classes of the Company’s Common Stock immediately prior to such transaction own, directly or
indirectly, more than 50% of all classes of common equity of the continuing or surviving corporation or transferee or the parent thereof immediately after such transaction in substantially the same proportions as such ownership immediately prior to
such transaction shall not be a Fundamental Change pursuant to this clause (2); 
 (3) the holders of the Common Stock approve
any plan or proposal for the Company’s liquidation or dissolution; or 
 (4) the Common Stock (or other common stock
underlying the Notes) ceases to be listed or quoted on any of The NASDAQ Global Select Market, The NASDAQ Global Market or The New York Stock Exchange (or any of their respective successors). 

A transaction or transactions described in clause (1) or clause (2) above will not constitute a Fundamental Change, however,
if, at least 90% of the consideration received or to be received by holders of the Common Stock (excluding cash payments for fractional shares and cash payments made pursuant to statutory appraisal rights) in connection with such transaction or
transactions consists of shares of common stock or depositary receipts representing common equity interests, in each case, that are listed or quoted on any of The NASDAQ Global Select Market, The NASDAQ Global Market or The New York Stock Exchange
(or any of their respective successors) or will be so listed or quoted when issued or exchanged in connection with such transaction or transactions (these securities being referred to as “Publicly Traded Securities”) and, as a
result of such transaction or transactions, the Notes become convertible into such Publicly Traded Securities, excluding cash payments for fractional shares or pursuant to statutory appraisal rights (subject to Section 10.03). 

“GAAP” means generally accepted accounting principles in the United States of America as in effect and, to the extent
optional, adopted by the Company, on the Issue Date, consistently applied. 
 “Global Note” means a permanent
Global Note that is in the form of the Note attached hereto as Exhibit A and that is deposited with and registered in the name of the Depositary or the nominee of the Depositary. 

“Global Securities Legend” means a legend set forth in Exhibit A. 

  
 4 

 “Holder” or “Holders” means a Person or Persons in whose
name a Note is registered in the Register. 
 “Indenture” means this Indenture, as amended or supplemented from
time to time in accordance with the terms hereof, including the provisions of the TIA that are deemed to be a part hereof. 

“Issue Date” means June 17, 2013. 
 “Last Reported Sale Price” of the Common Stock on any date means the closing sale price per share (or if no closing sale price is reported, the average of the bid and ask prices or, if
more than one in either case, the average of the average bid and the average ask prices) on that date as reported in composite transactions for the Relevant Stock Exchange. If the Common Stock is not so listed, quoted or traded on any U.S.
securities exchange or any other market, the “Last Reported Sale Price” of the Common Stock will be the average of the mid-point of the last bid and ask prices for the Common Stock on the relevant date from each of at least three
nationally recognized independent investment banking firms selected by the Company for this purpose. On and after the occurrence of a Merger Event, the Last Reported Sale Price for a Unit of Reference Property means, for any day, the value of a Unit
of Reference Property on such day as determined by the Board of Directors in a commercially reasonable manner. 

“Make-Whole Fundamental Change” means any transaction or event that constitutes a Fundamental Change in clause (1),
(2) or (4) of the definition of Fundamental Change, after giving effect to any exceptions or exclusions from such definition but without regard to the proviso in clause (2) of the definition of Fundamental Change. 

“Market Disruption Event” means, for any Scheduled Trading Day, (i) a failure by the Relevant Stock Exchange to
open for trading during its regular trading session, or (ii) the occurrence or existence prior to 1:00 p.m., New York City time, on such Scheduled Trading Day for more than one half-hour period in the aggregate during regular trading hours of
any suspension or limitation imposed on trading (by reason of movements in price exceeding limits permitted by the Relevant Stock Exchange or otherwise) in the Common Stock or in any options contracts or futures contracts relating to the Common
Stock. 
 “Maturity Date” means July 1, 2018. 

“National Securities Exchange” means a securities exchange registered as a national securities exchange under
Section 6(a) of the Exchange Act (or any successor thereto). 
 “Notes” means any of the Company’s
1.50% Convertible Senior Notes due 2018 issued under this Indenture. 
 “Observation Period” means, with
respect to any Note surrendered for conversion, (i) if the relevant Conversion Date for such Note occurs prior to April 1, 2018, the 40 consecutive VWAP Trading Day period beginning on, and including, the third VWAP Trading Day immediately
succeeding such Conversion Date, and (ii) if the relevant Conversion Date occurs on or after April 1, 2018, the 40 consecutive VWAP Trading Day period beginning on, and including, the 42nd Scheduled Trading Day immediately preceding the
Maturity Date (if such Scheduled Trading Day is not a VWAP Trading Day, the immediately following VWAP Trading Day). 

  
 5 

 “Offering Memorandum” means the final offering memorandum for the offering
and sale of the Notes dated June 11, 2013. 
 “Officer” means the Chairman of the Board, the Vice
Chairman, the Chief Executive Officer, the President, the Chief Financial Officer, Chief Legal Officer, any Executive Vice President, any Senior Vice President, any Vice President, the Treasurer or the Secretary or any Assistant Treasurer or
Assistant Secretary of the Company. 
 “Officer’s Certificate” means a written certificate
(i) containing the information specified in Sections 12.04 and 12.05, signed in the name of the Company by any Officer, and delivered to the Trustee; and (ii) if given pursuant to Section 4.03, signed by the principal financial or
accounting Officer of the Company, which certificate need not contain the information specified in Sections 12.04 and 12.05. 

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

“Opinion of Counsel” means a written opinion containing the information specified in Sections 12.04 and 12.05, from
legal counsel. The counsel may be an employee of, or counsel to, the Company who is reasonably satisfactory to the Trustee. 

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

“Relevant Stock Exchange” means The NASDAQ Global Select Market or, if the Common Stock (or other security for which a
Last Reported Sale Price must be determined) is not then listed on The NASDAQ Global Select Market, the principal other U.S. national or regional securities exchange on which the Common Stock (or such other security) is then listed or, if the Common
Stock (or such other security) is not then listed on a U.S. national or regional securities exchange, the over-the-counter market, as reported by OTC Markets Group Inc. or similar organization or, if the Common Stock is not then quoted by OTC
Markets Group Inc. or similar organization, the principal other market on which the Common Stock (or such other security) is then traded. 
 “Restricted Securities Legend” means a legend in the form set forth in Exhibit A, or any other substantially similar legend indicating the restricted status of the Notes under Rule 144.

 “Restricted Stock Legend” means a legend in the form set forth in Exhibit C, or any other substantially
similar legend indicating the restricted status of the shares of Common Stock under Rule 144. 
 “Rule 144”
means Rule 144 under the Securities Act (or any successor provision), as it may be amended from time to time. 

  
 6 

 “Rule 144A” means Rule 144A under the Securities Act (or any successor
provision), as it may be amended from time to time. 
 “Rule 144A Information” shall be such information as is
specified pursuant to Rule 144A(d)(4) under the Securities Act. 
 “Scheduled Trading Day” means a day that is
scheduled to be a Trading Day on the Relevant Stock Exchange. If the Common Stock is not so listed, quoted or traded on any U.S. securities exchange or any other market, “Scheduled Trading Day” means Business Day. 

“SEC” means the Securities and Exchange Commission. 

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

“Significant Subsidiary” means any Subsidiary that is a “significant subsidiary” as defined in Article 1, Rule
1-02 of Regulation S-X promulgated by the SEC; provided that, in the case of a Subsidiary that meets the criteria of clause (3) of such definition of “significant subsidiary” but not clause (1) or (2) of such
definition, such Subsidiary shall not be deemed to be a Significant Subsidiary unless such Subsidiary’s income from continuing operations before income taxes, extraordinary items and cumulative effect of changes in accounting principles
exclusive of amounts attributable to any non-controlling interests for the last completed fiscal year prior to the date of such determination exceeds $35,000,000. 
 “Stock Price” means, with respect to the Common Stock, in connection with a Fundamental Change, (i) in the case of a Fundamental Change described in clause (2) of the definition
of Fundamental Change in which the holders of the Common Stock receive only cash, the amount of cash paid per share of the Common Stock in such Fundamental Change, and (ii) otherwise, the average of the Last Reported Sale Prices of the Common
Stock over the five Trading Day period ending on, and including, the Trading Day immediately preceding the applicable Make-Whole Fundamental Change Effective Date. 
 “Subsidiary” means a Person more than 50% of the outstanding Voting Stock of which is owned, directly or indirectly, by the Company or by one or more other Subsidiaries of the Company, or
by the Company and one or more other Subsidiaries of the Company. 
 “TIA” means the Trust Indenture Act of
1939 as in effect on the Issue Date, provided, however, that if the TIA is amended after such date, TIA means, to the extent required by any such amendment, the TIA as so amended. 

“Trading Day” means a day on which (i) trading in the Common Stock (or other security for which a Last Reported
Sale Price must be determined) generally occurs on the Relevant Stock Exchange and (ii) a Last Reported Sale Price for the Common Stock (or Last Reported Sale Price for such other security) is available on the Relevant Stock Exchange; provided,
however, if the Common Stock (or such other security) is not listed, quoted or traded on any U.S. securities exchange or any other market, “Trading Day” means Business Day. 

“Trading Price” per $1,000 principal amount of the Notes, on any date of determination, means the average (per $1,000
principal amount of Notes) of the secondary market bid 

  
 7 

 
quotations obtained by the Bid Solicitation Agent for $5,000,000 principal amount of Notes at approximately 3:30 p.m., New York City time, on such determination date from three independent
nationally recognized securities dealers selected by the Company; provided that, if three such bids cannot reasonably be obtained by the Bid Solicitation Agent but two such bids are obtained, then the average of the two bids shall be used,
and if only one such bid can reasonably be obtained by the Bid Solicitation Agent, that one bid shall be used. If the Bid Solicitation Agent cannot reasonably obtain at least one bid for $5,000,000 principal amount of the Notes from an independent
nationally recognized securities dealer, then the Trading Price per $1,000 principal amount of Notes will be deemed to be less than 98% of the Trading Price Product for such Trading Day. If, on any date of determination, the Company does not so
instruct the Bid Solicitation Agent to obtain bids when required, the Trading Price per $1,000 principal amount of the Notes will be deemed to be less than 98% of the Trading Price Product on such date of determination. 

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

“VWAP Trading Day” means a day on which (i) there is no Market Disruption Event and (ii) trading in the Common
Stock generally occurs on the Relevant Stock Exchange. If the Common Stock (or any other security for which a Daily VWAP must be determined) is not so listed or admitted for trading on any Relevant Stock Exchange, “VWAP Trading Day” means
a Business Day. 
 “Wholly Owned Subsidiary” means, at any time, a Subsidiary all the Voting Stock of which
(except directors’ qualifying shares which shall be deemed to include investments by foreign nationals mandated by applicable law) is at such time owned, directly or indirectly, by the Company and its other Wholly Owned Subsidiaries.

  
 8 

 Section 1.02 Other Definitions. 

 

			
	 Term Section:
	  	 Defined in:

	“Act”	  	1.05
	“Additional Interest”	  	4.02(b)
	“Additional Shares”	  	10.07(a)
	“Agent Members”	  	2.12(e)
	“Cash Election”	  	10.03(b)
	“Cash Percentage”	  	10.03(b)(i)
	“Cash Percentage Notice”	  	10.03(b)(i)
	“Company’s Filing Obligations”	  	6.01(c)
	“Conversion Agent”	  	2.03
	“Conversion Date”	  	10.02(a)(i)
	“Conversion Rate”	  	10.01(a)
	“Daily Share Amount”	  	1.01
	“Defaulted Interest”	  	11.02
	“Depositary”	  	2.01(a)
	“Distributed Property”	  	10.05(c)
	“effective date”	  	10.05(e)
	“Event of Default”	  	6.01(a)
	“Expiration Date”	  	10.05(e)
	“Expiration Time”	  	10.05(e)
	“Fundamental Change Notice”	  	3.03(a)
	“Fundamental Change Notice Date”	  	3.03(a)
	“Fundamental Change Purchase Date”	  	3.02(a)
	“Fundamental Change Purchase Notice”	  	3.04(a)
	“Fundamental Change Purchase Price”	  	3.02(a)
	“Interest Payment Date”	  	11.01
	“Measurement Period”	  	10.01(a)(ii)
	“Merger Event”	  	10.06(a)
	“Notice of Conversion”	  	10.02(a)
	“Paying Agent”	  	2.03
	“Publicly Traded Securities”	  	1.01
	“QIB”	  	2.01(a)
	“record date”	  	10.05(e)
	“Record Date”	  	11.01
	“Reference Property”	  	10.06(a)
	“Register”	  	2.03
	“Registrar”	  	2.03
	“Restricted Notes”	  	2.06(f)(i)
	“Special Interest”	  	6.01(c)
	“Special Record Date”	  	11.02(a)
	“Specified Corporate Transaction”	  	10.01(a)(iv)
	“Specified Corporate Transaction Notice”	  	10.01(a)(iv)
	“Spin-off”	  	10.05(c)(ii)
	“Successor Company”	  	5.01(a)(i)
	“Temporary Notes”	  	2.09

  
 9 

			
	 Term Section:
	  	 Defined in:

	“Trading Price Product”	  	10.01(a)(ii)
	“transfer”	  	2.06(f)(i)
	“Unit of Reference Property”	  	10.06(a)
	“Valuation Period”	  	10.05(c)
	“Weighted Average Consideration”	  	10.06(a)(v)(C)

 Section 1.03 Incorporation by Reference of Trust Indenture Act. Whenever this Indenture
refers to a provision of the TIA, the provision is incorporated by reference in and made a part of this Indenture. The following TIA terms used in this Indenture have the following meanings: 

“indenture securities” means the Notes. 
 “indenture to be qualified” means this Indenture. 

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

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

All other TIA terms used in this Indenture that are defined by the TIA, defined by TIA reference to another statute or defined by SEC
rule have the meanings assigned to them by such definitions. 
 Section 1.04 Rules of Construction. 

(1) a term has the meaning assigned to it; 
 (2) an accounting term not otherwise defined has the meaning assigned to it and shall be construed in accordance with GAAP; 
 (3) “or” is not exclusive; 
 (4) “including”
means including, without limitation; 
 (5) words in the singular include the plural, and words in the plural include the
singular; 
 (6) all references to $, dollars, cash payments or money refer to United States currency; and 

(7) unless the context requires otherwise, all references to payments of interest on the Notes shall include Additional Interest and
Special Interest, if any, payable in accordance with the terms of Sections 4.02 or 6.01, as applicable, hereof. 

Section 1.05 Acts of Holders. Any request, demand, authorization, direction, notice,
consent, waiver or other action provided by this Indenture to be given or taken by Holders may 

  
 10 

 
be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Holders in person or by agent duly appointed in writing; and, except as herein
otherwise expressly provided, such action shall become effective when such instrument or instruments are delivered to the Trustee and to the Company. Such instrument or instruments (and the action embodied therein and evidenced thereby) are
herein sometimes referred to as the “Act” of Holders signing such instrument or instruments. Proof of execution of any such instrument or of a writing appointing any such agent shall be sufficient for any purpose of this Indenture
and conclusive in favor of the Trustee and the Company, if made in the manner provided in this Section 1.05. 
 (a)
The fact and date of the execution by any Person of any such instrument or writing may be proved by the affidavit of a witness of such execution or by a certificate of a notary public or other officer authorized by law to take acknowledgments of
deeds, certifying that the individual signing such instrument or writing acknowledged to such officer the execution thereof. Where such execution is by a signer acting in a capacity other than such signer’s individual capacity, such certificate
or affidavit shall also constitute sufficient proof of such signer’s authority. The fact and date of the execution of any such instrument or writing, or the authority of the Person executing the same, may also be proved in any other manner that
the Trustee deems sufficient. 
 (b) Any request, demand, authorization, direction, notice, consent, waiver or other Act of the
Holder of any Note shall bind every future Holder of the same Note and the Holder of every Note issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof in respect of anything done, omitted or suffered to be done
by the Trustee, the Company or the Conversion Agent in reliance thereon, whether or not notation of such action is made upon such Note. 
 (c) If the Company shall solicit from the Holders any request, demand, authorization, direction, notice, consent, waiver or other Act, the Company may, at its option, by or pursuant to a Board Resolution,
fix in advance a record date for the determination of Holders entitled to give such request, demand, authorization, direction, notice, consent, waiver or other Act, but the Company shall have no obligation to do so. If such a record date is fixed,
such request, demand, authorization, direction, notice, consent, waiver or other Act may be given before or after such record date, but only the Holders of record at the Close of Business on such record date shall be deemed to be Holders for the
purposes of determining whether Holders of the requisite proportion of outstanding Notes have authorized or agreed or consented to such request, demand, authorization, direction, notice, consent, waiver or other Act, and for that purpose the
outstanding Notes shall be computed as of such record date; provided that no such authorization, agreement or consent by the Holders on such record date shall be deemed effective unless it shall become effective pursuant to the provisions of
this Indenture not later than six months after the record date. 
 ARTICLE 2. 

THE NOTES 

Section 2.01 Form and Dating. The Notes and the Trustee’s certificate of authentication shall be substantially in the
form of Exhibit A, which is a part of this Indenture. 

  
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The Notes may have notations, legends or endorsements required by law, stock exchange rule or usage. The Company shall provide any such notations, legends or endorsements to
the Trustee in writing. Each Note shall be dated the date of its authentication. Except as otherwise expressly permitted in this Indenture, all Notes shall be identical in all respects. Notwithstanding any differences among them, all
Notes issued under this Indenture shall vote and consent together on all matters as one class. 
 (a) Initial Notes. The
Notes initially shall be offered and sold only to qualified institutional buyers as defined in Rule 144A (“QIBs”) in reliance on Rule 144A and shall be issued in the form of Global Notes that shall be deposited with the Trustee at
its Corporate Trust Office, as custodian for the Depositary and registered in the name of DTC or the nominee thereof (DTC, or any successor thereto, and any such nominee being hereinafter referred to as the “Depositary”), duly
executed by the Company and authenticated by the Trustee as hereinafter provided. 
 (b) Global Notes in General. Each
Global Note shall represent the outstanding Notes as shall be specified therein and each Global Note shall provide that it shall represent the aggregate principal amount of outstanding Notes from time to time endorsed thereon and that the aggregate
principal amount of outstanding Notes represented thereby may from time to time be reduced or increased, as appropriate, to reflect exchanges, purchases by the Company 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 2.12 hereof and shall be made on the records of the Trustee and the Depositary. 

Payment of the principal, accrued and unpaid interest (including Additional Interest and Special Interest), if any, or payment of the
Fundamental Change Purchase Price on the Global Note shall be made to the Holder of such Note on the date of payment, unless a record date or other means of determining Holders eligible to receive payment is provided for herein. 

(c) Book-Entry Provisions. This Section 2.01(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 Section 2.02, authenticate and deliver Global Notes that (a) shall be registered in the name of the Depository or the nominee of the Depositary and
(b) shall be delivered by the Trustee to the Depositary or pursuant to the Depositary’s instructions. 
 (d)
Legends. 
 (i) Each Global Note shall bear the Global Securities Legend unless otherwise directed by the Company.

 (ii) Each Restricted Note shall bear the Restricted Securities Legend. Each Note that bears or is required to bear the
Restricted Securities Legend shall be subject to the restrictions on transfer set forth therein, and each Holder of such Note, by such Holder’s acceptance thereof, agrees to be bound by all such restrictions on transfer. 

  
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 (iii) Every stock certificate representing the shares of Common Stock issued in the
circumstances described in Section 2.06(g) hereof shall bear the Restricted Stock Legend unless removed in accordance with the provisions of Section 2.06(j) or otherwise at the direction of the Company. 

Section 2.02 Execution and Authentication. The Notes shall be executed on behalf of the Company by any Officer. The signature
of the Officer on the Notes may be manual or facsimile. 
 If an Officer whose signature is on a Note no longer holds that
office at the time the Trustee authenticates the Note, the Note shall be valid nevertheless. 
 At any time after the Issue
Date, the Company may deliver Notes executed by the Company to the Trustee for authentication, together with a written order of the Company in the form of an Officer’s Certificate for the authentication and delivery of such Notes, and the
Trustee, in accordance with such written order of the Company, shall authenticate and deliver such Notes. 
 A Note shall not be
valid until an authorized signatory of the Trustee manually signs the certificate of authentication on the Note. The signature shall be conclusive evidence that the Note has been authenticated under this Indenture. 

The Notes shall originally be issued only in registered form without coupons and only in denominations of $1,000 of principal amount and
any integral multiple thereof. 
 The aggregate principal amount of Notes that may be authenticated by the Trustee under this
Indenture is initially limited to $253,000,000, subject to Section 2.14 and except for Notes authenticated and delivered upon registration or transfer of, or in exchange for, or in lieu of other Notes pursuant to Sections 2.06, 2.07, 2.09,
2.12, 3.07, 9.07 and 10.02 hereof. 
 The Trustee may appoint authenticating agents. The Trustee may at any time after the Issue
Date appoint an authenticating agent acceptable to the Company to authenticate Notes. An authenticating agent may authenticate Notes whenever the Trustee may do so, except any Notes issued pursuant to Section 2.07 hereof. Each reference in this
Indenture to authentication by the Trustee includes authentication by such agent. An authenticating agent shall have the same right to deal with the Company as the Trustee with respect to such matters for which it has been appointed. 

Section 2.03 Registrar, Paying Agent and Conversion Agent. The Company shall maintain an office or agency where Notes may be
presented for registration of transfer or for exchange (“Registrar”), an office or agency where Notes may be presented for payment (“Paying Agent”), an office or agency where Notes may be presented for
conversion (“Conversion Agent”) and an office or agency where notices to or upon the Company in respect of the Notes and this Indenture may be served. The Registrar shall keep a register for the recordation of, and shall record, the
names and addresses of Holders of the Notes, the Notes held by each Holder and the transfer, exchange and conversion of Notes (the “Register”). The entries in the Register shall be conclusive, and the parties may treat each Person
whose name is recorded in the Register pursuant to the terms hereof as a Holder hereunder for all purposes of this 

  
 13 

 
Indenture. The Company may have one or more co-registrars, one or more additional paying agents and one or more additional conversion agents. The term Paying Agent includes any additional paying
agent, including any named pursuant to Section 4.05. The term Conversion Agent includes any additional conversion agent, including any named pursuant to Section 4.05. 

The Company shall enter into an appropriate agency agreement with any Registrar, Paying Agent, Conversion Agent or co-registrar not a
party to this Indenture, which shall incorporate the terms of the TIA if so required. Any such agreement shall implement the provisions of this Indenture that relate to such agent. The Company shall notify the Trustee of the name and address of any
such agent. If the Company fails to maintain a Registrar, Paying Agent or Conversion Agent, the Trustee may agree to act as such and shall be entitled to appropriate compensation therefor pursuant to Section 7.07. The Company or any of its
domestically incorporated Wholly Owned Subsidiaries may act as Paying Agent, Registrar, Conversion Agent or co-registrar. 
 The
Company initially appoints the Trustee as the Paying Agent, the Conversion Agent, and the Registrar, in connection with the Notes, and the Corporate Trust Office to be such office or agency of the Company for the aforesaid purposes. The Company may
at any time rescind the designation of the Paying Agent, Conversion Agent or the Registrar or approve a change in the location through which any of them acts. 
 Section 2.04 Paying Agent to Hold Money and Notes in Trust. Except as otherwise provided herein, on or prior to each due date of payment in respect of any Note, the Company shall
deposit with the Paying Agent a sum of money (in immediately available funds if deposited on the due date) and shares of Common Stock, if applicable, sufficient to make such payments when so becoming due. The Paying Agent shall
(or, if the Paying Agent is not a party hereto, the Company shall require each Paying Agent to agree in writing that such Paying Agent shall) hold in trust for the benefit of Holders or the Trustee (if the Trustee is not the Paying
Agent) all money and shares of Common Stock, if any, held by the Paying Agent for the making of payments in respect of the Notes and shall notify the Trustee (if the Trustee is not the Paying Agent) of any default by the Company in
making any such payment. At any time during the continuance of any such default, the Paying Agent (if not the Trustee) shall, upon the written request of the Trustee, forthwith pay to the Trustee all money and shares of Common
Stock, if any, so held in trust. If the Company or a Wholly Owned Subsidiary acts as Paying Agent, it shall segregate the money and shares of Common Stock, if any, held by it as Paying Agent and hold it as a
separate trust fund. The Company at any time may require a Paying Agent to pay all money and shares of Common Stock, if any, held by it to the Trustee and to account for any funds and shares of Common Stock, if any,
disbursed by the Paying Agent. Upon complying with this Section 2.04, the Paying Agent shall have no further liability for the money delivered to the Trustee. The Trustee shall not be responsible for the actions of any other Paying
Agents (including the Issuer is acting as its own Paying Agent) and shall have no control of any funds held by such other Paying Agents. 
 Section 2.05 Holder Lists. The Trustee shall preserve in as current a form as is reasonably practicable the most recent list available to it of the names and addresses of Holders. If the
Trustee is not the Registrar, the Company shall furnish to the Trustee, promptly after each Record Date, and at such other times as the Trustee may request in writing, a list in such form and as of such date as the
Trustee may reasonably require of the names and addresses of Holders. 

  
 14 

 Section 2.06 Transfer and Exchange. 

(a) Subject to Section 2.12 hereof, upon surrender for registration of transfer of any Note, together with a written instrument of
transfer satisfactory to the Registrar duly executed by the Holder or such Holder’s attorney-in-fact duly authorized in writing, at the office or agency of the Company-designated Registrar or co-Registrar pursuant to Section 2.03,
(i) the Company shall execute, and the Trustee (or any authenticating agent) shall authenticate and deliver, in the name of the designated transferee or transferees, one or more new Notes of any authorized denomination or denominations, of a
like aggregate principal amount and bearing such restrictive legends as may be required by this Indenture and (ii) the Registrar shall record the information required pursuant to Section 2.03 regarding the designated transferee or
transferees in the Register. The Company shall not charge a service charge for any registration of transfer or exchange, but the Company may require payment of a sum sufficient to pay all taxes, assessments or other governmental charges that may be
imposed in connection with the registration of, transfer or exchange of the Notes from the Holder requesting such transfer or exchange. 
 At the option of the Holder, Notes may be exchanged for other Notes of any authorized denomination or denominations, of a like aggregate principal amount, upon surrender of the Notes to be exchanged, at
such office or agency, together with a written instrument of transfer satisfactory to the Registrar duly executed by the Holder or such Holder’s attorney-in-fact duly authorized in writing, and documents of identity and title satisfactory to
Registrar. Whenever any Notes are so surrendered for exchange, the Company shall execute, and the Trustee shall authenticate and deliver, the Notes that the Holder making the exchange is entitled to receive, bearing registration numbers not
contemporaneously outstanding. 
 The Company shall not be required to make, and the Registrar need not register, transfers or
exchanges of Notes in respect of which a Fundamental Change Purchase Notice has been given and not validly withdrawn by the Holder thereof in accordance with the terms of this Indenture (except, in the case of Notes to be repurchased in part, the
portion of such Notes not to be repurchased). 
 (b) Notwithstanding any provision to the contrary herein, so long as a Global
Note remains outstanding and is held by or on behalf of the Depositary, transfers of a Global Note, in whole or in part, shall be made only in accordance with Section 2.12 and this Section 2.06(b). Transfers of a Global Note shall be
limited to transfers of such Global Note to the Depositary, to nominees of the Depositary or to a successor of the Depositary or such successor’s nominee. 
 (c) Successive registrations and registrations of transfers and exchanges as aforesaid may be made from time to time as desired, and each such registration shall be noted on the Register. 

  
 15 

 (d) Any Registrar appointed pursuant to Section 2.03 shall provide to the Trustee such
information as the Trustee may reasonably require in connection with the delivery by such Registrar of Notes upon transfer or exchange of Notes. 
 (e) No Registrar shall be required to make registrations of transfer or exchange of Notes during any periods designated in Paragraph 7 of the form of Note attached as Exhibit A hereto or in this Indenture
as periods during which such registration of transfers and exchanges need not be made. 
 (f) Transfer Restrictions.

 (i) Every Note that bears or is required under this Section 2.06(f) to bear the Restricted Securities Legend required by
Section 2.01(d) (the “Restricted Notes”) shall be subject to the restrictions on transfer set forth in this Section 2.06(f) unless such restrictions on transfer shall be eliminated or otherwise waived by written consent of
the Company, and the Holder of each such Restricted Note, by such Holder’s acceptance thereof, agrees to be bound by all such restrictions on transfer. As used in this Section 2.06(f), and Sections 2.06(g), 2.12(b) and 2.12(c), the term
“transfer” encompasses any sale, pledge, transfer, loan, hypothecation or other disposition whatsoever of any Restricted Note. Except as otherwise provided in this Indenture with respect to any Restricted Notes (including, without
limitation, Section 2.06(i) below) or as permitted under the terms of such Restricted Securities Legend, if a request is made to remove the legend on any Restricted Note, the legend shall not be removed unless there is delivered to the Company
and the Registrar such satisfactory evidence that neither the Restricted Securities Legend nor the restrictions on transfer set forth therein are required to ensure that transfers thereof comply with the provisions of Rule 144A or Rule 144, that
such Notes are not “restricted” within the meaning of Rule 144 or that transfers thereof comply with all other applicable securities laws and regulations. In such a case, upon (i) provision of such satisfactory evidence, or
(ii) notification by the Company to the Trustee and Registrar of the sale of such Note pursuant to a registration statement that is effective at the time of such sale, the Trustee, pursuant to a Company Order, shall authenticate and deliver a
Note that does not bear the Restricted Securities Legend. 
 (ii) Except as provided elsewhere in this Indenture (including,
without limitation, Section 2.06(i) below), until the later of (x) the date that is one year after the last date of original issuance of the Notes and (y) the date that is three months after the Holder ceases to be an Affiliate of the
Company, any certificate evidencing such Notes (and all securities issued in exchange therefor or substitution thereof, other than Common Stock, if any, issued upon conversion thereof, which shall bear the Restricted Stock Legend, if applicable)
shall bear the Restricted Securities Legend unless such Notes have been transferred (a) to the Company, (b) under a registration statement that has been declared effective under the Securities Act, or (c) under any other available
exemption from the registration requirements of the Securities Act pursuant to which the Notes are not required to bear the Restricted Securities Legend. 
 (iii) No transfer of any Note prior to the Free Trade Date will be registered by the Registrar unless the applicable box on the Form of Assignment and Transfer has been checked. 

  
 16 

 (g) Legends on the Common Stock. 

(i) Except as provided elsewhere in this Indenture (including, without limitation, Section 2.06(j) below), until the later of
(x) the date that is one year after the last date of original issuance of the Notes and (y) the date that is three months after the holder of such shares of Common Stock ceases to be an Affiliate of the Company, any stock certificate
representing shares of Common Stock issued upon conversion of such Notes shall bear the Restricted Stock Legend unless the Notes or such Common Stock, as applicable, has been transferred (a) to the Company; (b) under a registration
statement that has been declared effective under the Securities Act; or (c) under any other available exemption from the registration requirements of the Securities Act pursuant to which the shares of Common Stock are not required to bear the
Restricted Stock Legend. 
 (ii) Any such shares of Common Stock as to which such restrictions on transfer shall have expired in
accordance with their terms may, subject to applicable securities laws and regulations and upon surrender of the certificates representing such shares of Common Stock for exchange in accordance with the procedures of the transfer agent for the
Common Stock, be exchanged for a new certificate or certificates for a like aggregate number of shares of Common Stock which shall not bear the Restricted Stock Legend. 
 (h) The Company shall not permit any Note that is purchased or owned by the Company or any Affiliate thereof to be resold by the Company or such Affiliate unless registered under the Securities Act or
resold pursuant to an exemption from the registration requirements of the Securities Act in a transaction that results in such Notes, as the case may be, no longer being “restricted securities” (as defined under Rule 144). If the legend is
removed from the face of a Note and the Note is subsequently held by the Company or an Affiliate of the Company, the legend shall be reinstated. 
 (i) So long as and to the extent that any Notes are represented by one or more Global Notes held by or on behalf of the Depositary only, the Company may cause the removal of the Restricted Securities
Legend from such Notes at any time on or after the Free Trade Date by: 
 (i) providing to the Trustee written notice stating
that the Free Trade Date has occurred and instructing the Trustee to remove the Restricted Securities Legend from such Notes; 

(ii) providing to the Holders of such Notes written notice that the Restricted Securities Legend has been removed or deemed removed;

 (iii) providing to the Trustee and the Depositary written notice to change the CUSIP number for the Notes to the applicable
unrestricted CUSIP number; and 
 (iv) complying with any Applicable Procedures for delegending; 

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

  
 17 

 (j) On and after the Free Trade Date, the Company shall also (i) instruct the transfer
agent for the Common Stock to remove the Restricted Stock Legend from any shares of Common Stock issued upon conversion of the Notes that bear the Restricted Stock Legend; (ii) notify the holders of any shares of Common Stock issued upon
conversion of the Notes (to the extent any shares of Common Stock have been issued upon conversion of the Notes) that such Restricted Stock Legend has been removed; (iii) if relevant, notify the transfer agent for the Common Stock to change the
CUSIP number for any shares of Common Stock issued upon conversion of the Notes to the applicable unrestricted CUSIP number; and (iv) comply with any Applicable Procedures that apply to the delegending of any shares of Common Stock issued upon
conversion of a Note. 
 Section 2.07 Replacement Notes. If a mutilated Note is surrendered to the Registrar or if
the Holder of a Note claims that such Note has been lost, destroyed or stolen and the Holder provides evidence of the loss, theft or destruction satisfactory to the Company and the Trustee, the Company shall issue, and
the Trustee shall authenticate, a replacement Note if the requirements of Section 8-405 of the Uniform Commercial Code are met and the Holder satisfies any other reasonable requirements of the Trustee. If required by the Trustee or the
Company, such Holder shall furnish an indemnity bond sufficient in the judgment of the Company and the Trustee to protect the Company, the Trustee, the Paying Agent, the Registrar and any co-registrar from any loss that
any of them may suffer if a Note is replaced. The Company and the Trustee may charge the Holder for their expenses in replacing a Note. 
 Upon the issuance of any new Notes under this Section 2.07, the Company may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation
thereto and any other expenses (including the fees and expenses of the Trustee) connected therewith. 
 Every new Note issued
pursuant to this Section 2.07 in exchange for any mutilated Note, or in lieu of any destroyed, lost or stolen Note, shall constitute an original additional contractual obligation of the Company and any other obligor upon the Notes, whether or
not the mutilated, destroyed, lost or stolen Note shall be at any time enforceable by anyone, and shall be entitled to all benefits of (and shall be subject to all the limitations set forth in) this Indenture equally and proportionately with any and
all other Notes duly issued hereunder. 
 Section 2.08 Outstanding Notes. Notes outstanding at any time include and
are limited to all Notes authenticated by the Trustee except (i) those cancelled by it, (ii) those delivered to it for cancellation and (iii) those deemed not outstanding under this Section 2.08. If the Company or an
Affiliate of the Company holds the Note, a Note does not cease to be outstanding; provided, however, that for purposes of determining whether the Holders of the requisite principal amount of Notes have given or concurred in any
request, demand, authorization, direction, notice, consent, waiver or other action hereunder, Notes owned by the Company or any other obligor upon the Notes or any Affiliate of the Company or such other obligor shall be disregarded and deemed not to
be outstanding. Subject to the foregoing, only Notes outstanding at the time of such determination shall be considered in any such determination (including, without limitation, determinations pursuant to Articles 6 and 9). 

  
 18 

 If a Note is replaced pursuant to Section 2.07, it ceases to be outstanding unless the
Trustee and the Company receive proof satisfactory to them that the replaced Note is held by a bona fide purchaser. 
 If the
Paying Agent holds, in accordance with this Indenture, on a Fundamental Change Purchase Date or on the Maturity Date, money sufficient to pay Notes payable on that date, then immediately after such Fundamental Change Purchase Date or Maturity Date,
as the case may be, such Notes shall cease to be outstanding, interest (including Additional Interest and Special Interest), if any, on such Notes shall cease to accrue and such Notes shall cease to be convertible. 

If a Note is converted in accordance with Article 10, then from and after the time of conversion on the Conversion Date, such Note
shall cease to be outstanding and interest (including any Additional Interest and Special Interest), if any, shall cease to accrue on such Note. 
 Section 2.09 Temporary Notes. Until Certificated Notes are ready for delivery, the Company may execute and the Trustee or an authenticating agent appointed by the Trustee shall,
upon written request of the Company, authenticate and deliver temporary Notes (printed or lithographed) (“Temporary Notes”). Temporary Notes shall be issuable in any authorized denomination, and substantially in the
form of Certificated Notes but with such omissions, insertions and variations as may be appropriate for temporary Notes, all as may be determined by the Company. Every such Temporary Note shall be executed by the Company and
authenticated by the Trustee or such authenticating agent upon the same conditions and in substantially the same manner, and with the same effect, as the Certificated Notes. Without unreasonable delay the Company will prepare,
execute and deliver to the Trustee or such authenticating agent Certificated Notes (other than any Global Note) and thereupon any or all Temporary Notes (other than any Global Note) may be surrendered in exchange therefor, at each office or
agency maintained by the Company pursuant to Section 4.05 and the Trustee or such authenticating agent shall authenticate and deliver in exchange for such Temporary Notes an equal aggregate principal amount of Certificated Notes. Such exchange
shall be made by the Company at its own expense and without any charge therefor. Until so exchanged, the Temporary Notes shall in all respects be entitled to the same benefits and subject to the same limitations under this Indenture as
Certificated Notes authenticated and delivered hereunder. 
 Section 2.10 Cancellation. The Company at any time may
deliver Notes to the Trustee for cancellation. The Registrar, Conversion Agent and the Paying Agent shall forward to the Trustee any Notes surrendered to them for registration of transfer, exchange, conversion,
purchase, or payment. The Trustee and no one else shall cancel all Notes surrendered for registration of transfer, exchange, conversion, purchase, payment or cancellation and shall dispose of such Notes in its
customary manner. The Company may not issue new Notes to replace Notes it has purchased, paid or delivered to the Trustee for cancellation or that any Holder has converted pursuant to Article 10. 

Section 2.11 Persons Deemed Owners. Prior to due presentment of a Note for registration of transfer, the
Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name such Note is registered in the Register as the owner of such Note for the purpose of receiving payment of principal, interest
(including Additional Interest 

  
 19 

 
and Special Interest), if any, or payment of the Fundamental Change Purchase Price, for the purpose of conversion and for all other purposes whatsoever, whether or not
such Note be overdue, and neither the Company, the Trustee nor any agent of the Company or the Trustee shall be affected by notice to the contrary. 
 Section 2.12 Transfer of Notes. 
 (a) Notwithstanding any other
provisions of this Indenture or the Notes, (A) transfers of a Global Note, in whole or in part, shall be made only in accordance with Sections 2.06 and 2.12(a)(i); (B) transfers of a beneficial interest in a Global Note for a Certificated
Note shall comply with Sections 2.06 and 2.12(a)(ii), and (C) transfers of a Certificated Note shall comply with Sections 2.06 and 2.12(a)(iii) and (iv) below. All such transfers shall comply with the Applicable Procedures to the extent so
required. 
 (i) Transfer of Global Note. A Global Note may not be transferred, in whole or in part, to any Person other
than the Depositary or a nominee or any successor thereof, and no transfer of a Global Note to any other Person may be registered; provided that this clause (i) shall not prohibit any transfer of a Note that is issued in exchange for a
Global Note but is not itself a Global Note. No transfer of a Note to any Person shall be effective under this Indenture or the Notes unless and until such Note has been registered in the name of such Person. Nothing in this Section 2.12(a)(i)
shall prohibit or render ineffective any transfer of a beneficial interest in a Global Note effected in accordance with the other provisions of this Section 2.12(a). 
 (ii) Restrictions on Transfer of a Beneficial Interest in a Global Note for a Certificated Note. 
 (A) A beneficial interest in a Global Note may not be exchanged for a Certificated Note unless: 
 (1) DTC notifies the Company that it is unwilling or unable to continue as Depositary for such Global Note and a successor Depositary is not appointed by the Company within 90 days of such notice; or

 (2) DTC ceases to be registered as a clearing agency under the Exchange Act and a successor Depositary is not appointed by
the Company within 90 days of such cessation, in which case Certificated Notes shall be issued to all owners of beneficial interests in a Global Note in exchange for their beneficial interests. 

In connection with the exchange of an entire Global Note for Certificated Notes pursuant to this Section 2.12(a)(ii), such Global
Note shall be deemed to be surrendered to the Trustee for cancellation, and the Company shall execute, and upon Company Order the Trustee shall authenticate and deliver, to each beneficial owner identified by DTC in exchange for its beneficial
interest in such Global Note, an equal aggregate principal amount of Certificated Notes of authorized denominations. 
 (3) An
Event of Default has occurred and is continuing, in which case, the owner of a beneficial interest in a Global Note will be entitled to receive a Certificated Note in exchange for its beneficial interest in such Global Note. 

  
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 (B) Upon receipt by the Registrar of instructions from the Holder of a Global Note
directing the Registrar to (x) issue one or more Certificated Notes in the amounts specified to the owner of a beneficial interest in such Global Note and (y) debit or cause to be debited an equivalent amount of beneficial interest in such
Global Note, subject to the Applicable Procedures: 
 (1) the Registrar shall notify the Company and the Trustee of such
instructions and identify the owner of and the amount of such beneficial interest in such Global Note; 
 (2) the Company shall
promptly execute, and upon Company Order, the Trustee shall authenticate and deliver, to such beneficial owner Certificated Note(s) in an equivalent amount to such beneficial interest in such Global Note; and 

(3) the Registrar shall decrease such Global Note by such amount in accordance with the foregoing. 

(iii) Transfer and Exchange of Certificated Notes. When Certificated Notes are presented to the Registrar with a request:
(x) to register the transfer of such Certificated Notes; or (y) to exchange such Certificated Notes for an equal principal amount of Certificated Notes of other authorized denominations, the Registrar shall register the transfer or make
the exchange as requested if its reasonable requirements for such transaction are met; provided, however, that the Certificated Notes surrendered for transfer or exchange: 

(1) must be duly endorsed or accompanied by a written instrument of transfer in form reasonably satisfactory to the Company and the
Registrar, duly executed in writing by the Holder thereof or its duly authorized attorney-in-fact; and 
 (2) so long as such
Notes are “restricted securities” (as defined under Rule 144), such Notes are being transferred or exchanged pursuant to an effective registration statement under the Securities Act or pursuant to clause (A), (B) or (C) below,
and are accompanied by the following additional information and documents, as applicable: 
 (A) if such Certificated Notes are
being delivered to the Registrar by a Holder for registration in the name of such Holder, without transfer, a certification from such Holder to that effect; or 
 (B) if such Certificated Notes are being transferred to the Company, a certification from such Holder to that effect; or 
 (C) if such Certificated Notes are being transferred pursuant to an exemption from registration, (i) a certification from such Holder to that effect (in the form set forth in Exhibit B, if
applicable) and (ii) if the Company so requests, an opinion of counsel in form and substance reasonably satisfactory to the Company or any other evidence as to the compliance with the restrictions set forth in the legend thereon that is
reasonably satisfactory to the Company. 

  
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 (iv) Restrictions on Transfer of a Certificated Note for a Beneficial Interest in a
Global Note. A Certificated Note may not be exchanged for a beneficial interest in a Global Note except upon satisfaction of the requirements set forth below. 
 Upon receipt by the Trustee of a Certificated Note, duly endorsed or accompanied by appropriate instruments of transfer, in form satisfactory to the Trustee, together with: 

(A) so long as the Notes are Restricted Notes, certification, in the form set forth in Exhibit B, that such Certificated Note is being
transferred to a QIB in accordance with Rule 144A; and 
 (B) written instructions directing the Trustee to make, or to direct
the Registrar to make, an adjustment on its books and records with respect to such Global Note to reflect an increase in the aggregate principal amount of the Notes represented by the Global Note, such instructions to contain information regarding
the Depositary account to be credited with such increase, then the Trustee shall cancel such Certificated Note and cause, or direct the Registrar to cause, in accordance with the standing instructions and procedures existing between the Depositary
and the Registrar, the aggregate principal amount of Notes represented by the Global Note to be increased by the aggregate principal amount of the Certificated Note to be exchanged, and shall credit or cause to be credited to the account of the
Person specified in such instructions a beneficial interest in the Global Note equal to the principal amount of the Certificated Note so cancelled. If no Global Notes are then outstanding, the Company shall issue and the Trustee shall authenticate,
upon written order of the Company in the form of an Officer’s Certificate, a new Global Note in the appropriate principal amount. 
 (b) Subject to the succeeding Section 2.12(c), every Note shall be subject to the restrictions on transfer provided in Section 2.06(f), including the delivery of an opinion of counsel, if so
required. Whenever any Restricted Note is presented or surrendered for registration of transfer or for exchange for a Note registered in a name other than that of the Holder, such Note must be accompanied by a certificate in substantially the form
set forth in Exhibit B, dated the date of such surrender and signed by the Holder of such Note, as to compliance with such restrictions on transfer. The Registrar shall not be required to accept for such registration of transfer or exchange any Note
not so accompanied by a properly completed certificate. 
 (c) The restrictions imposed by Section 2.06(f) upon the
transferability of any Note shall cease and terminate when such Note has been sold pursuant to an effective registration statement under the Securities Act or transferred in compliance with Rule 144. Any Note as to which such restrictions on
transfer shall have expired in accordance with their terms or shall have terminated may, upon a surrender of such Note for exchange to the Registrar in accordance with the provisions of this Section 2.12 (accompanied, if such restrictions on
transfer have terminated by reason of a transfer in compliance with Rule 144 or any successor provision, by an opinion of counsel having substantial experience in practice under the Securities Act and otherwise reasonably acceptable in form and
substance to the Company, addressed to the Company, to the effect that the transfer of such Note has been made in compliance with Rule 144), be exchanged for a new Note, of like tenor and aggregate principal amount, which shall not bear the legends
required by Section 2.01(d). The Company shall inform the Trustee upon the 

  
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occurrence of the Free Trade Date and promptly after a registration statement with respect to the Notes or any shares of Common Stock issued upon conversion of the Notes has been declared
effective under the Securities Act. The Trustee shall not be liable for any action taken or omitted to be taken by it in good faith in accordance with the aforementioned opinion of counsel or registration statement. 

(d) The provisions of clauses (i), (ii), (iii) and (iv) below shall apply only to Global Notes: 

(i) Notwithstanding any other provisions of this Indenture or the Notes, a Global Note shall not be exchanged in whole or in part for a
Note registered in the name of any Person other than the Depositary or one or more nominees thereof, provided that a Global Note may be exchanged for Notes registered in the name of any Person designated by the Depositary if (A) the
Depositary has notified the Company that it is unwilling or unable to continue as Depositary for such Global Note or such Depositary has ceased to be a “clearing agency” registered under the Exchange Act, and a successor Depositary is not
appointed by the Company within 90 days or (B) an Event of Default has occurred and is continuing with respect to the Notes. Any Global Note exchanged pursuant to clause (A) above shall be so exchanged in whole and not in part, and any
Global Note exchanged pursuant to clause (B) above may be exchanged in whole or, from time to time, in part as directed by the Depositary. Any Note issued in exchange for a Global Note or any portion thereof shall be a Global Note; provided
that any such Note so issued that is registered in the name of a Person other than the Depositary or a nominee thereof shall not be a Global Note. 
 (ii) Notes issued in exchange for a Global Note or any portion thereof shall be issued in definitive, fully registered form, without interest coupons, shall have an aggregate principal amount equal to
that of such Global Note or portion thereof to be so exchanged, shall be registered in such names and be in such authorized denominations as the Depositary shall designate and shall bear the applicable legends provided for herein. Any Global Note to
be exchanged in whole shall be surrendered by the Depositary to the Trustee, as Registrar. With regard to any Global Note to be exchanged in part, either such Global Note shall be so surrendered for exchange or, if the Trustee is acting as custodian
for the Depositary or its nominee with respect to such Global Note, the principal amount thereof shall be reduced, by an amount equal to the portion thereof to be so exchanged, by means of an appropriate adjustment made on the records of the
Trustee. Upon any such surrender or adjustment, the Trustee shall authenticate and deliver the Note issuable on such exchange to or upon the order of the Depositary or an authorized representative thereof. 

(iii) Subject to the provisions of Section 2.12(e), a Holder may grant proxies and otherwise authorize any Person, including Agent
Members and Persons that may hold interests through Agent Members, to take any action which such Holder is entitled to take under this Indenture or the Notes. 
 (iv) In the event of the occurrence of any of the events specified in clause (i) above, the Company will promptly make available to the Trustee a reasonable supply of Certificated Notes in
definitive, fully registered form, without interest coupons. 

  
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 (e) Neither any members of, or participants in, the Depositary (collectively, the
“Agent Members”) nor any other Persons on whose behalf any Agent Member may act shall have any rights under this Indenture with respect to any Global Note registered in the name of the Depositary or any nominee thereof, or under any
such Global Note, and the Depositary or such nominee, as the case may be, may be treated by the Company, the Trustee and any agent of the Company or the Trustee as the absolute owner and holder of such Global Note for all purposes whatsoever. The
Trustee shall have no responsibility or obligation to any Agent Members or any other Person on whose behalf Agent Members may act with respect to (i) any ownership interests in the Global Note, (ii) the accuracy of the records of the
Depositary or its nominee (iii) any notice required hereunder or (iv) any payments, under or with respect to, the Global Note. Notwithstanding the foregoing, nothing herein shall prevent the Company, the Trustee or any agent of the Company
or the Trustee from giving effect to any written certification, proxy or other authorization furnished by the Depositary or such nominee, as the case may be, or impair, as between the Depositary, its Agent Members and any other Person on whose
behalf an Agent Member may act, the operation of customary practices of such Persons governing the exercise of the rights of a holder of any Note. The registered Holder of a Global Note may grant proxies and otherwise authorize any Person, including
Agent Members and persons that may hold interests through Agent Members, to take any action that a Holder is entitled to take under this Indenture or the Notes. 
 Section 2.13 CUSIP and ISIN Numbers. 
 (a) The Company, in issuing the
Notes, shall use restricted CUSIP and ISIN numbers for such Notes (if then generally in use) until such time as the Restricted Securities Legend is removed pursuant to Section 2.06(i). At such time as the legend is removed from such Notes
pursuant to Section 2.06(i), the Company will use an unrestricted CUSIP number for such Note, but only with respect to the Notes where so removed. The Trustee may use CUSIP and ISIN numbers in notices as a convenience to Holders;
provided, however, that neither the Company nor the Trustee shall have any responsibility for any defect in the CUSIP or ISIN number that appears on any Note, check, advice of payment or notice, and any such notice may state that no
representation is made as to the correctness of such numbers either as printed on the Notes or as contained in any notice and that reliance may be placed only on the other identification numbers printed on the Notes, and any action taken in
connection with such a notice shall not be affected by any defect in or omission of such numbers. The Company shall promptly notify the Trustee in the event of any change in the CUSIP or ISIN numbers. 

(b) Until such time as the Restricted Stock Legend is no longer required to be borne by any shares of Common Stock issued upon the
conversion of the Notes pursuant to Section 2.06(g) or otherwise, any shares of Common Stock issued upon conversion of the Notes shall bear a restricted CUSIP number. At such time as the Restrictive Stock Legend is no longer required to be
borne by any shares of Common Stock issued upon the conversion of the Notes pursuant to Section 2.06(g) or otherwise, any shares of Common Stock issued upon conversion of the Notes shall bear an unrestricted CUSIP number. 

Section 2.14 Additional Notes; Repurchases. The Company may, without the consent of the Holders and notwithstanding
Section 2.02, reopen this Indenture and increase the principal amount of the Notes by issuing an unlimited amount of additional Notes in the future pursuant to 

  
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this Indenture with the same terms and with the same CUSIP number as the Notes initially issued hereunder in an unlimited aggregate principal amount, which will form the same series with
the Notes initially issued hereunder; provided that if any such additional Notes are not fungible with the Notes initially offered hereunder for U.S. federal income tax, such additional notes will have a separate CUSIP number. Prior to the issuance
of any such additional Notes, the Company shall deliver to the Trustee a Company Order, an Officer’s Certificate and an Opinion of Counsel, such Officer’s Certificate and Opinion of Counsel to cover such
matters, in addition to those required by Section 12.05, as the Trustee shall reasonably request. The Company may also from time to time repurchase the Notes in open market purchases or negotiated transactions without prior notice
to Holders. 
 ARTICLE 3. 
 REDEMPTION AND REPURCHASES 
 Section 3.01 No Company Right to
Redeem. The Company shall have no right to redeem the Notes before the Maturity Date. 
 Section 3.02 Fundamental
Change Permits Holders to Require Company to Purchase Notes. 
 If a Fundamental Change occurs, each Holder shall have the
right, at its option, to require the Company to purchase in cash, on the Fundamental Change Purchase Date, all of its Notes, or any portion of its Notes in principal amount equal to $1,000 or an integral multiple thereof, on a date (the
“Fundamental Change Purchase Date”) specified by the Company in the Fundamental Change Purchase Notice for such Fundamental Change and that is not less than 20 Business Days or more than 35 Business Days immediately following the
Fundamental Change Notice Date, at a price (the “Fundamental Change Purchase Price”) (or, if the Company fails to specify a Fundamental Change Purchase Date, the 35th Business Day following the date of the Fundamental Change Notice,
without prejudice to any rights or remedies Holders may have on account of such failure) equal to 100% of the principal amount of the Notes to be purchased, plus accrued and unpaid interest (including Additional Interest and Special Interest), if
any, to, but not including, the Fundamental Change Purchase Date; provided, however, that if the Fundamental Change Purchase Date occurs after a Record Date for the payment of interest, but on or prior to the corresponding Interest
Payment Date, the Company will pay the full amount of accrued and unpaid interest (including Additional Interest and Special Interest), if any, payable on such interest payment date to the Holder of the Note on such Record Date and reduce the
Fundamental Change Purchase Price by such amount. 
 Section 3.03 Fundamental Change Conversion Right Notice.

 (a) On or before the 20th Business Day immediately following the effective date of a Fundamental Change, the Company shall
deliver written notice of such Fundamental Change and the resulting purchase right (the “Fundamental Change Notice,” and the date of such mailing, the “Fundamental Change Notice Date”) to each Holder (and to
beneficial owners as required by applicable law), the Trustee and the Paying Agent. A Fundamental Change Notice for a Fundamental Change shall state, among other things: 
 (i) the events causing such Fundamental Change; 

  
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 (ii) the effective date of such Fundamental Change; 

(iii) the last date on which a Holder may exercise its right to require the Company to purchase such Holder’s Notes under this
Article 3; 
 (iv) the Fundamental Change Purchase Price; 

(v) the Fundamental Change Purchase Date; 
 (vi) the name and address of the Paying Agent and the Conversion Agent, if applicable; 
 (vii) the Conversion Rate in effect on the Fundamental Change Notice Date; 

(viii) any adjustments that will be made to the Conversion Rate as a result of the Fundamental Change, including, without limitation, any
Additional Shares by which the Conversion Rate will be increased pursuant to Section 10.07; 
 (ix) that any Notes with
respect to which a Fundamental Change Purchase Notice has been delivered may be converted only if such Fundamental Change Purchase Notice is validly withdrawn by the Holder in accordance with the terms of this Indenture; and 

(x) the procedures the Holder must follow to exercise its rights under this Section 3.03. 

Simultaneously with providing such notice, the Company will issue a press release and publish the information on the Company’s
website or through such other public medium as the Company may use at that time. 
 Section 3.04 Fundamental Change
Purchase Notice. 
 (a) To exercise its repurchase rights under Section 3.02(a), a Holder must deliver to the Paying
Agent, by the Close of Business on the Business Day immediately preceding the Fundamental Change Purchase Date, (i)(A) if the Notes that such Holder is tendering for purchase are Global Notes, a duly completed written notice in the form of the
“Form of Fundamental Change Purchase Notice” on the reverse side of the Notes, or (B) if the Notes that such Holder is tendering for purchase are Certificated Notes, the duly completed “Form of Fundamental Change Purchase
Notice” on the reverse side of the Notes that such Holder is tendering for purchase (in either case (A) or case (B), such notice, a “Fundamental Change Purchase Notice”) and (ii) the Notes that such Holder is
tendering for purchase on such Fundamental Change Purchase Date. The Fundamental Change Purchase Notice must state: 
 (A) if
Certificated Notes have been issued, the certificate numbers of the Notes that the Holder will deliver to be purchased; 

  
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 (B) the portion of the principal amount of the Notes that the Holder will deliver to be
purchased, which portion must be $1,000 or an integral multiple thereof; and 
 (C) that such Notes shall be purchased pursuant
to the terms and conditions specified in this Indenture. 
 If the Notes to be purchased are Global Notes, the Holder must
deliver the Notes to be repurchased in accordance with the Applicable Procedures. 
 (b) Unless and until the Paying Agent
receives a validly endorsed and delivered Fundamental Change Purchase Notice, together with any Notes to which such Fundamental Change Purchase Notice pertains, in a form that conforms with the description contained in such Fundamental Change
Purchase Notice in all material aspects, the Holder submitting the Notes shall not be entitled to receive the Fundamental Change Purchase Price for such Notes. 
 (c) After delivering a Fundamental Change Purchase Notice to the Paying Agent, a Holder may withdraw such Fundamental Change Purchase Notice by delivering to the Trustee a written notice of withdrawal at
any time prior to the Close of Business on the Business Day immediately preceding the Fundamental Change Purchase Date. Such notice of withdrawal must specify: 
 (i) the principal amount of any Notes with respect to which the notice of withdrawal pertains, which must equal $1,000 or an integral multiple thereof; 

(ii) if Certificated Notes have been issued, the certificate numbers of the Notes to be withdrawn; and 

(iii) the principal amount, if any, that remains subject to the original Fundamental Change Purchase Notice, which amount must equal
$1,000 or an integral multiple thereof. 
 If the Notes to be withdrawn are Global Notes, a Holder must deliver its notice of
withdrawal in compliance with the Applicable Procedures. 
 Section 3.05 Effect of Fundamental Change Purchase
Notice. 
 (a) If a Holder validly delivers to the Paying Agent a Fundamental Change Purchase Notice (together with all
necessary endorsements) with respect to a Note, such Holder may no longer convert such Note unless and until such Holder validly withdraws such Fundamental Change Purchase Notice in accordance with Section 3.04(c) above. 

(b) Upon the Paying Agent’s receipt of (i) a valid Fundamental Change Purchase Notice (together with all necessary
endorsements) and (ii) the Notes to which such Fundamental Change Purchase Notice pertains, the Holder of the Notes to which such Fundamental Change Purchase Notice pertains shall be entitled, except to the extent such Holder has validly
withdrawn such Fundamental Change Purchase Notice in accordance with Section 3.04(c) above, to receive the Fundamental Change Purchase Price with respect to such Notes promptly following the later of (i) the Fundamental Change Purchase
Date and (ii) if the Notes are Certificated Notes, the date of delivery of such Notes to the Paying Agent, or, if the Notes are Global Notes, the date of book-entry transfer. 

  
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 (c) If, on the Fundamental Change Purchase Date, the Company, in accordance with
Section 3.06 below, has deposited with the Paying Agent money sufficient to pay the Fundamental Change Purchase Price of all of the Notes that Holders have tendered for purchase and have not validly withdrawn in accordance with
Section 3.04(c) above: 
 (i) such tendered Notes will cease to be outstanding and interest (including Additional Interest
and Special Interest), if any, will cease to accrue (whether or not all of such Notes were delivered to the Paying Agent or book-entry transfer has been made, as applicable); and 

(ii) all other rights of the Holders with respect to the tendered Notes will terminate (other than (x) the right to receive payment
of the Fundamental Change Purchase Price upon delivery or transfer of the Notes and (y) if the Fundamental Change Purchase Date falls after a Record Date, but on or prior to the corresponding Interest Payment Date, the right of the holder of
record on such Record Date to receive the related interest payment). 
 Section 3.06 Deposit of Fundamental Change
Purchase Price. Prior to 10:00 a.m., New York City time, on the Fundamental Change Purchase Date, as the case may be, the Company shall deposit with the Trustee or with the Paying Agent (or, if the Company or a
Subsidiary or an Affiliate of either of them is acting as the Paying Agent, shall segregate and hold in trust as provided in Section 2.04) an amount of cash (in immediately available funds if deposited on such Business Day),
sufficient to pay the aggregate Fundamental Change Purchase Price of all the Notes or portions thereof which are to be repurchased as of the Fundamental Change Purchase Date. 
 Section 3.07 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-in-fact 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 which is not repurchased, or in the case of a Global Note, the Company shall instruct the Registrar to decrease such Global Note
by the principal amount of the repurchased portion of the Note surrendered. 
 Section 3.08 Covenant to Comply with
Securities Laws Upon Purchase of Notes. When repurchasing Notes under this Article 3, the Company will, to the extent applicable, (i) comply with applicable tender offer rules under the Exchange Act,
(ii) file a Schedule TO (or any successor schedule, form or report) under the Exchange Act or any other required schedule under the Exchange Act, and (iii) otherwise comply with any applicable U.S. federal and state
securities laws so as to permit Holders to exercise their rights and obligations under Section 3.02 in the time and in the manner specified in Section 3.02. 

  
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 Section 3.09 Repayment to the Company. The Trustee and the Paying Agent shall
return to the Company any cash held by them for the payment of the Fundamental Change Purchase Price that remains unclaimed as provided in Paragraph 11 of the form of Note attached as Exhibit A hereto; provided, however, that to the extent
that the aggregate amount of cash deposited by the Company pursuant to Section 3.04 exceeds the aggregate Fundamental Change Purchase Price of the Notes or portions thereof which the Company is obligated to repurchase as of the Fundamental
Change Purchase Date, then, unless otherwise agreed in writing with the Company, promptly after the Business Day following the Fundamental Change Purchase Date, the Trustee shall return any such excess to the Company.

 Section 3.10 Covenant Not to Purchase Notes Upon Certain Events of Default. 

(a) Notwithstanding anything to the contrary in this Article 3, the Company shall not purchase any Notes under this Article 3 if
there has occurred and is continuing an Event of Default unless the payment by the Company of the Fundamental Change Purchase Price will cure such Event of Default. 
 (b) If a Fundamental Change Purchase Notice is tendered and, on the Fundamental Change Purchase Date, such Fundamental Change Purchase Notice has not been validly withdrawn in accordance with
Section 3.04(c) above, and, pursuant to this Section 3.10, the Company is not permitted to purchase Notes, the Paying Agent will deem withdrawn such Fundamental Change Purchase Notice. 

(c) If a Holder tenders a Note for purchase pursuant to this Article 3 and, on the Fundamental Change Purchase Date, pursuant to
this Section 3.10, the Company is not permitted to purchase such Note, the Paying Agent will (i) if such Note is a Certificated Note, return such Note to such Holder, and (ii) if such Note is held in book-entry form, in compliance
with the Applicable Procedures, deem to be cancelled any instructions for book-entry transfer of such Note. 
 ARTICLE 4.

 COVENANTS 
 Section 4.01 Payment of Notes. 
 (a) The Company shall promptly make
all payments on the Notes on the dates, in the manner and as otherwise required under the Notes or this Indenture. If the Company is required to deliver any amounts of cash and/or shares of Common Stock to the Trustee, the Paying Agent or the
Conversion Agent, such amounts of cash and/or shares of Common Stock shall be deposited by the Company with the Trustee, the Paying Agent or the Conversion Agent by 10:00 a.m., New York City time, on the required date. The Company may, at its
option, make payments on any Certificated Notes by check mailed to a Holder’s registered address; provided, however, that if a Holder of more than $5,000,000 principal amount of Certificated Notes requests in writing that the
Company make payments on its Certificated Notes by wire transfer to an account in the United States, the Company shall, beginning with the interest payment corresponding to the next Record Date, make all subsequent payments due to such Holder to
such account until such Holder notifies the Registrar in writing that the Company should no longer make payments by wire transfer to such account. If the Notes are held in book-entry form, the Company shall make all payments by wire transfer.

  
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 (b) The Company shall make any required interest payments (including of Additional Interest
and Special Interest), if any, to the Person in whose name each Note is registered at the Close of Business on the Record Date for such interest payment. The principal, accrued and unpaid interest (including Additional Interest and Special
Interest), if any, or payment of the Fundamental Change Purchase Price shall be considered paid on the applicable date due if on such date (or, in the case of a Fundamental Change Purchase Price, on the Business Day following the applicable
Fundamental Change Purchase Date) the Trustee or the Paying Agent holds, in accordance with this Indenture, cash sufficient to pay all such amounts then due. 
 Section 4.02 SEC and Other Reports. 
 (a) For so long as the Notes are
outstanding, the Company shall file with the Trustee the Company’s annual and quarterly reports, information, documents and other reports which the Company is required to file with the SEC pursuant to Section 13 or 15(d) of the Exchange
Act (or copies of such portions of any of the foregoing as the SEC may by rules and regulations prescribe), within 15 days of the date on which the Company would be required to file the same with the SEC (after giving effect to any grace period
provided by Rule 12b-25 under the Exchange Act). Documents filed by the Company with the SEC via the EDGAR filing system will be deemed to be filed with the Trustee as of the time such documents are filed via the EDGAR filing system; provided,
however, that the Trustee shall have no obligation to determine whether or not such documents have been filed with the SEC. Delivery of such reports, information and documents to the Trustee is for informational purposes only and the
Trustee’s receipt of such shall not constitute constructive notice of any information contained therein or determinable from information contained therein, including the Company’s compliance with any of its covenants hereunder (as to which
the Trustee is entitled to rely conclusively on Officer’s Certificates). 
 (b) If, at any time during the six-month period
beginning on, and including, the date which is six months after the last date of original issuance of the Notes offered by the Offering Memorandum and ending on the Free Trade Date, the Company fails to timely file any periodic report that the
Company is required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act, as applicable (other than current reports on Form 8-K), and the Company does not cure such failure to file within 14 calendar days, the Company
shall pay interest (the “Additional Interest”) on the Notes, accruing from the due date of the first missed filing that gives rise to such obligation and continuing until the earlier of (i) the Free Trade Date and (ii) the
date on which the Company corrects its failure to file such reports. During the first 90 days on which such Additional Interest is payable, such Additional Interest shall accrue at a rate of 0.25% per annum; thereafter, such Additional Interest
shall accrue at a rate of 0.50% per annum. 
 (c) In addition, if the Company fails to cause the Notes or any shares of
Common Stock issuable upon conversion of the Notes that are held by Holders that have not been Affiliates of the Company during the immediately preceding three months to become Freely Tradable on and at all times after the Free Trade Date (or the
next succeeding Business Day if the Free Trade Date is not a Business Day), the Company will pay Additional Interest on the 

  
 30 

 
Notes accruing from the Free Trade Date and until the date on which the Notes and any shares of Common Stock issuable upon the conversion of the Notes become Freely Tradable. During the first 90
days on which such Additional Interest is payable, such Additional Interest will accrue at a rate of 0.25% per annum; thereafter, such Additional Interest will accrue at a rate of 0.50% per annum. 

(d) Notwithstanding anything else in this Indenture, in no event will (i) the combined rate of any Additional Interest payable under
this Section 4.02 and of any Special Interest payable under Section 6.01(c) exceed 0.50% per annum; or (ii) Additional Interest accrue on any day in which (A)(1) the Company has filed a shelf registration statement for the resale
of the Notes, (2) such shelf registration statement is effective and usable by Holders for the resale of the Notes, and (3) the Holders may register the resale of their Notes under such shelf registration statement on terms customary for
the resale of convertible securities offered in reliance on Rule 144A; or (B) conditions (A)(1) through (A)(3) of this sentence have been satisfied for a period of two years. 

(e) Whenever Additional Interest is accruing on a Record Date, the Company will pay all accrued and unpaid Additional Interest to the
Holders of record on such Record Date on the corresponding Interest Payment Date. If Additional Interest is not accruing on a Record Date, but has accrued since the immediately preceding Record Date, the Company shall pay any accrued and unpaid
Additional Interest on the Interest Payment Date corresponding to the latter Record Date to Holders of record on the latter Record Date. 
 If the Company is required to pay Additional Interest or Special Interest to Holders, the Company shall provide a direction or order in the form of a written notice to the Trustee (and if the Trustee is
not the Paying Agent, to the Paying Agent) of the Company’s obligation to pay such Additional Interest or Special Interest no later than three Business Days prior to the date on which any such Additional Interest or Special Interest is
scheduled to be paid. Such notice shall set forth the amount of Additional Interest or Special Interest to be paid by the Company on such payment date and direct the Trustee (or, if the Trustee is not the Paying Agent, to the Paying Agent) to make
payment to the extent it receives funds from the Company to do so. The Trustee shall not at any time be under any duty or responsibility to any Holder to determine whether the Additional Interest or Special Interest is payable, or with respect to
the nature, extent, or calculation of the amount of the Additional Interest or Special Interest owed, or with respect to the method employed in such calculation of the Additional Interest or Special Interest. 

Section 4.03 Compliance Certificate. Within 120 days after the end of each fiscal year (beginning with the fiscal year ending
December 31, 2013) of the Company, the Company shall deliver to the Trustee an Officer’s Certificate (which Officer’s Certificate shall not be required to include such statements included in Section 12.05) stating
whether, to the knowledge of the signers thereof, the Company is in default in the performance and observance of any of the terms, provisions and conditions of this Indenture (without regard to any period of grace or requirement
of notice provided hereunder) and if the Company shall be in default, specifying all such defaults and the nature and status thereof of which they may have knowledge. 

  
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 Section 4.04 Further Instruments and Acts. Upon request of the Trustee,
the Company will execute and deliver such further instruments and do such further acts as may be reasonably necessary or proper to carry out more effectively the purposes of this Indenture. 

Section 4.05 Maintenance of Office or Agency. The Company will maintain, in the continental United States, an
office or agency of the Trustee, Registrar, Paying Agent and Conversion Agent where Notes may be presented or surrendered for payment, where Notes may be surrendered for registration of transfer, exchange,
repurchase, or conversion and where notices and demands to or upon the Company in respect of the Notes and this Indenture may be served. The Corporate Trust Office of the Trustee shall initially be such office or agency for all of the
aforesaid purposes. The Company shall give prompt written notice to the Trustee of the location, and of any change in the location, of any such office or agency (other than a change in the location of the Corporate Trust Office of the
Trustee). If at any time the Company shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or
served at the address of the Trustee set forth in Section 12.02. 
 The Company may also from time to time designate one or
more other offices or agencies where the Notes may be presented or surrendered for any or all such purposes and may from time to time rescind such designations. 
 Section 4.06 Delivery of Certain Information. At any time when the Company is not subject to Sections 13 or 15(d) of the Exchange Act, upon the request of a Holder, or any
beneficial owner of, or prospective purchaser of, the Notes or a holder of, beneficial owner of, or prospective purchaser of, any shares of Common Stock issued upon the conversion of Notes, the Company will
promptly furnish or cause to be furnished Rule 144A Information to such Holder, or any beneficial owner of, or prospective purchaser of, the Notes or holder of, beneficial owner of, or prospective purchaser
of, shares of Common Stock issued upon the conversion of Notes, as the case may be, to the extent required to permit compliance by such Holder or holder with Rule 144A in connection with the resale of any such Note. Whether a
Person is a beneficial owner shall be determined by the Company to the Company’s reasonable satisfaction. 

Section 4.07 Par Value Limitation. The Company will not take any action that, after giving effect to any adjustment
pursuant to Section 10.05, would result in the issuance of shares of Common Stock for less than the par value of such shares of Common Stock. 
 ARTICLE 5. 
 CONSOLIDATION, MERGER AND SALE OF ASSETS 

Section 5.01 Company May Consolidate, Merge or Sell Its Assets on Certain Terms. The Company will not consolidate
with, merge with or into, or convey, transfer or lease all or substantially all of its property and assets to, any Person unless the Company is the resulting, surviving or transferee Person unless: 

(i) the resulting, surviving or transferee Person (the “Successor Company”) is a corporation organized and validly
existing under the laws of the United States of America, any state thereof or the District of Columbia, and the Successor Company expressly assumes, by executing and delivering a supplemental indenture to the Trustee, all of the Company’s
obligations under the Notes and under this Indenture; 

  
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 (ii) immediately after giving effect to such transaction, no Default or Event of Default
shall have occurred or shall be continuing; and 
 (iii) the Company and the Successor Company shall have delivered to the
Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that: 
 (A) such consolidation, merger,
conveyance, transfer or lease and such supplemental indenture complies with this Section 5.01; and 
 (B) that all
conditions precedent to such consolidation, merger, conveyance, transfer or lease provided for in this Indenture have been satisfied. 
 Section 5.02 Successor Corporation to Be Substituted. Upon any such consolidation, merger, conveyance, transfer or lease and the assumption by the Successor
Company, by supplemental indenture, executed and delivered to the Trustee and satisfactory in form to the Trustee, of the due and punctual payment of the principal of, accrued and unpaid interest (including Additional
Interest and Special Interest), if any, on all of the Notes, 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 this Indenture to be performed by the Company, such Successor Company shall succeed to and be substituted for the Company, with the same effect as if it had been named herein as the party of
the first part. Such Successor Company thereupon may cause to be signed, and may issue in its own name, any or all of the Notes issuable hereunder which theretofore shall not have been signed by the Company and delivered to the
Trustee; and, upon the order of such Successor Company instead of the Company and subject to all the terms, conditions and limitations in this Indenture prescribed, the Trustee shall authenticate and shall deliver, or
cause to be authenticated and delivered, any Notes that such Successor Company thereafter shall cause to be signed and delivered to the Trustee for that purpose. All the Notes so issued shall in all respects have the same legal rank and
benefit under this Indenture as the Notes theretofore or thereafter issued in accordance with the terms of this Indenture as though all of such Notes had been issued at the date of the execution hereof. Upon any such consolidation, merger,
conveyance or transfer (but not upon a lease), the Person named as the “Company” in the first paragraph of this Indenture or any successor that shall thereafter have become such in the manner prescribed in this Article 5 may be
dissolved, wound up and liquidated at any time thereafter and, except in the case of a lease, such Person shall be released from its liabilities as obligor and maker of the Notes and from its obligations under this Indenture. 

In case of any such consolidation, merger, conveyance, transfer or lease, changes in phraseology and form (but not in substance) may be
made in the Notes thereafter to be issued as may be appropriate. 

  
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 ARTICLE 6. 
 DEFAULTS AND REMEDIES 
 Section 6.01 Events of Default.

 (a) Each of the following events shall be an “Event of Default”: 

(i) the Company defaults in the payment of interest (including Additional Interest or Special Interest, if any) on any Note when the same
becomes due and payable and such default continues for a period of 30 days; 
 (ii) the Company defaults in the payment of the
principal of any Note when the same becomes due and payable at the Maturity Date, upon declaration of acceleration, upon any Fundamental Change Purchase Date or otherwise; 
 (iii) the failure by the Company to deliver the consideration due upon the conversion of any Notes and such failure continues for a period of five Business Days; 

(iv) the failure by the Company to comply with its obligations under Article 5 hereof; 

(v) the failure by the Company to give a Fundamental Change Notice as required pursuant to Section 3.03; 

(vi) the failure by the Company in the performance of or the breach of any other covenant or agreement of the Company in the Notes or
this Indenture with respect to the Notes (other than a covenant or agreement in respect of which a default or breach is specifically addressed in Sections 6.01(a)(i) through 6.01(a)(v) above) and such default or breach continues for a period of 60
consecutive days after written notice of such default is delivered to the Company by the Trustee or to the Company and the Trustee by the Holders of at least 25% in aggregate principal amount of the Notes then outstanding; 

(vii) a default under any mortgage, indenture or instrument under which there may be issued, or by which there may be secured or
evidenced, any indebtedness of the Company or any Significant Subsidiary for money borrowed, whether such indebtedness exists as of the Issue Date or is later created, if: 

 

	 	•	 	 that default constitutes the failure to pay when due (whether at express maturity, upon acceleration as a result of an event of default or otherwise,
after giving effect to any applicable grace period) indebtedness in an aggregate principal amount in excess of $35,000,000 (or its foreign currency equivalent), and 

 

	 	•	 	 such default continues for a period of 30 days after written notice thereof is delivered to the Company by the Trustee or to the Company and the
Trustee by the Holders of at least 25% of the aggregate principal amount of the Notes then outstanding without such default having been cured or waived, such acceleration having been rescinded or annulled (if applicable) and such indebtedness not
having been paid or discharged; 

 (viii) the Company or any of its Significant Subsidiaries, pursuant to or
within the meaning of any Bankruptcy Law: 
 (A) commences a voluntary case; 

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

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

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

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

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

(A) is for relief against the Company or any of its Significant Subsidiaries in an involuntary case; 

(B) appoints a Custodian of the Company or any of its Significant Subsidiaries or for any substantial part of its or any of its
Significant Subsidiaries’ property; 
 (C) orders the winding up or liquidation of the Company or any of its Significant
Subsidiaries; or 
 (D) grants any similar relief under any foreign laws; 

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

Each of the foregoing will constitute an Event of Default whatever the cause and regardless of whether voluntary or involuntary or
effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body. 
 Notwithstanding anything to the contrary in the Notes or elsewhere in this Indenture, a Default under clause (vi) or (vii) of this Section 6.01(a) is not an Event of Default until the
Trustee or the Holders of at least 25% in aggregate principal amount of the Notes then outstanding notify the Company (and in the case of such notice by Holders, the Trustee) of the Default and the Company does not cure such Default within the time
specified after receipt of such notice. Such notice must specify the Default, demand that it be remedied and state that such notice is a “Notice of Default.” 
 (b) Within the 30 days immediately following the occurrence of an Event of Default or any Default, the Company shall deliver to the Trustee written notice thereof in the form of an Officer’s
Certificate describing such Event of Default or Default and its status and explaining what action the Company is taking or proposes to take with respect thereto; provided that no notice shall be required to the extent that the event that
would constitute a Default or an Event of Default has been cured or waived. 

  
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 (c) Notwithstanding anything to the contrary in the Notes or elsewhere in this Indenture, ,
at the election of the Company, the sole remedy for an Event of Default specified in Section 6.01(a)(vi) relating to the failure by the Company to comply with Section 4.02(a) (the “Company’s Filing Obligations”),
shall consist exclusively of the right to receive interest (the “Special Interest”) on the Notes. (i) For the first 180 days of the 270-day period on which such Event of Default is continuing beginning on, and including, the
date on which such an Event of Default first occurs, the Special Interest will accrue at a rate equal to 0.25% per annum, and (ii) for the last 90 days of such 270-day period as long as such Event of Default is continuing, the Special
Interest will accrue at a rate equal to 0.50% per annum. The Special Interest will be in addition to any Additional Interest that the Company is required to pay under Section 4.02 and will be payable in the same manner as Additional
Interest; provided, however, that in no event will the combined rate of the Special Interest and any Additional Interest due under Section 4.02 exceed 0.50% per annum. This Special Interest, as applicable, will accrue on the
Notes from and including the date on which an Event of Default relating to a failure to comply with the Company’s Filing Obligations first occurs to and including the 270th day thereafter (or such earlier date on which the Event of Default
relating to such obligations shall have been cured or waived pursuant to Section 6.04). On such 271st day (or, if such Event of Default is cured or waived pursuant to Section 6.04 prior to such 271st day, on the date such Event of Default
is so cured or waived), such Special Interest will cease to accrue and, if such Event of Default has not been cured or waived pursuant to Section 6.04 prior to such 271st day, then the Trustee or the Holders of not less than 25% in principal
amount of the Notes may declare the principal of and accrued and unpaid interest on all such Notes to be due and payable immediately. This provision shall not affect the rights of Holders in the event of the occurrence of any other Event of Default.
If the Company elects to pay the Special Interest as the sole remedy for an Event of Default specified in Section 6.01(a)(vi) relating to the failure by the Company to comply with the Company’s Filing Obligations, the Company shall notify,
in the manner provided for in Section 12.02, the Holders, the Paying Agent and the Trustee of such election at any time on or before the Close of Business on the date on which such Event of Default first occurs (which notice shall include a
statement as to the date from which Special Interest is payable). Upon the Company’s failure to give such notice, the Notes will be immediately subject to acceleration as provided in Section 6.02. If the Special Interest has been paid by
the Company directly to the Persons entitled to it, the Company shall deliver to the Trustee a certificate setting forth the particulars of such payment. 
 Section 6.02 Acceleration. If an Event of Default (other than an Event of Default specified in Sections 6.01(a)(viii) or 6.01(a)(ix) with respect to the Company) occurs and is
continuing, the Trustee, by notice to the Company, or the Holders of at least 25% in aggregate principal amount of the Notes then outstanding, by notice to the Company and the Trustee, may declare the principal
amount of Notes outstanding plus accrued and unpaid interest (including Additional Interest and Special Interest), if any, on all the Notes that are not already due and payable 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 Sections 6.01(a)(viii) or 6.01(a)(ix) with respect to the Company (and not solely with respect to one or more of its Significant
Subsidiaries) occurs and is continuing, the principal amount of Notes outstanding plus accrued and unpaid interest (including Additional Interest and Special Interest), if any, on all the Notes shall, automatically and
without any action by the Trustee or any Holder, become and be immediately due and payable without any declaration or other act on the part of the 

  
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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 the Company, and without notice to
any other Holder, may rescind any declaration of acceleration if the rescission would not conflict with any judgment or decree of a court of competent jurisdiction and if all existing Events of Default have been cured or waived other than
nonpayment of the principal amount or accrued but unpaid interest (including Additional Interest and Special Interest), if any, that has become due solely as a result of acceleration. No such rescission shall affect any subsequent
Default or impair any right consequent thereto. 
 Section 6.03 Other Remedies. If an Event of Default occurs and is
continuing, the Trustee may pursue any available remedy to collect the payment of principal, accrued and unpaid interest (including Additional Interest and Special Interest), if any, or payment of the Fundamental Change
Purchase Price on the Notes or to enforce the performance of any provision of the Notes or this Indenture. 
 The Trustee may
maintain a proceeding even if it does not possess any of the Notes or does not produce any of the Notes in the proceeding. A delay or omission by the Trustee or any Holder in exercising any right or remedy accruing upon an Event of Default 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 6.04 Waiver of Past Defaults. The Holders of a majority in aggregate principal amount of the Notes at the time
outstanding by written notice to the Trustee and without notice to any other Holder may waive an existing or past default and its consequences except (a) an Event of Default described in Sections 6.01(a)(i), 6.01(a)(ii) or 6.01(a)(iii)
or (b) a default in respect of a provision that under Section 9.02 cannot be amended without the consent of each Holder. When a Default is waived, it is deemed cured, but no such waiver shall extend to any subsequent or other
default or impair any consequent right. 
 Section 6.05 Control by Majority. The Holders of a majority in aggregate
principal amount of the Notes at the time outstanding may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. However, the
Trustee may refuse to follow any direction that conflicts with law or this Indenture or, subject to Section 7.01, that the Trustee determines is prejudicial to the rights of other Holders or would potentially involve the Trustee
in personal liability; provided, however, that the Trustee may take any other action deemed proper by the Trustee that is not inconsistent with such direction. Prior to taking any action hereunder, the Trustee shall be entitled
to reasonable indemnification against all losses and expenses caused by taking or not taking such action. 
 Section 6.06
Limitation on Suits. A Holder may pursue any remedy with respect to this Indenture or the Notes only if: 
 (a) such
Holder shall have previously given to the Trustee written notice that an Event of Default has occurred and is continuing; 

  
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 (b) the Holders of at least 25% in aggregate principal amount of the Notes at the time
outstanding make a written request to the Trustee to take action because of the Event of Default; 
 (c) such Holder or Holders
shall have offered to the Trustee security or indemnity reasonably satisfactory to the Trustee against loss, liability or expense of compliance with such written request; 
 (d) the Trustee has not complied with such written request within 60 days after receiving such written request and offer of security or indemnity; and 

(e) the Holders of at least a majority in aggregate principal amount of the Notes outstanding at such time have not given the Trustee a
direction that, in the opinion of the Trustee, is inconsistent with such request within such 60-day period. 
 A Holder may not
use this Indenture to prejudice the rights of any other Holder or to obtain a preference or priority over any other Holder. 

Section 6.07 Rights of Holders to Receive Payment. Notwithstanding any other provision of this Indenture, the right of
any Holder to bring suit for the enforcement of payment of principal, accrued and unpaid interest (including Additional Interest and Special Interest), if any, or payment of the Fundamental Change Purchase Price on or after the
respective due dates, or the right to receive consideration due upon conversion of Notes in accordance with Article 10, shall not be impaired or affected without the consent of such Holder and shall not be subject to the
requirements of Section 6.06. 
 Section 6.08 Collection Suit by Trustee. If an Event of Default specified in
Section 6.01(a)(i) or 6.01(a)(ii) occurs and is continuing, the Trustee may recover judgment in its own name and as trustee of an express trust against the Company for the whole amount then due and owing (together with interest on any
unpaid interest (including Additional Interest and Special Interest), if any, to the extent lawful) and the amounts provided for in Section 7.07. 
 Section 6.09 Trustee May File Proofs of Claim. The Trustee may file such proofs of claim and other papers or documents as may be necessary or advisable in order to have the claims of the
Trustee and the Holders allowed in any judicial proceedings relative to the Company, its creditors or its property and, unless prohibited by law or applicable regulations, may vote on behalf of the Holders in any election of a
trustee in bankruptcy or other Person performing similar functions, and any Custodian in any such judicial proceeding is hereby authorized by each Holder to make payments to the Trustee and, if the Trustee shall consent to the making
of such payments directly to the Holders, to pay to the Trustee any amount due it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and its counsel, and any other
amounts due the Trustee under Section 7.07. 
 Section 6.10 Priorities. If the Trustee collects any money
pursuant to this Article 6, it shall pay out the money in the following order: 
 FIRST: to the Trustee for amounts
due under Section 7.07; 

  
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SECOND: to Holders for amounts due and unpaid on the Notes for principal, accrued and unpaid interest (including Additional Interest and Special Interest), if any, payment of the Fundamental
Change Purchase Price and the cash deliverable upon conversion of Notes then submitted for conversion, as the case may be, ratably, without preference or priority of any kind, according to such amounts due and payable on the Notes; and 

THIRD: the balance, if any, to the Company. 
 The Trustee may fix a record date and payment date for any payment to Holders pursuant to this Section 6.10. At least 15 days before such record date, the Company shall mail to each Holder and the
Trustee a notice that states the record date, the payment date and the amount to be paid. 
 Section 6.11 Undertaking
for Costs. In any suit for the enforcement of any right or remedy under this Indenture or in any suit against the Trustee for any action taken or omitted by it as Trustee, a court in its discretion may require the filing by any party
litigant in the suit of an undertaking to pay the costs of the suit, and the court in its discretion may assess reasonable costs, including reasonable attorneys’ fees and expenses, against any party litigant in the
suit, having due regard to the merits and good faith of the claims or defenses made by the party litigant. This Section 6.11 does not apply to a suit by the Trustee, a suit by a Holder pursuant to Section 6.07 or a suit by
Holders of more than 10% in aggregate principal amount of the Notes at the time outstanding. 
 Section 6.12 Waiver of
Stay, Extension or Usury Laws. The Company (to the extent it may lawfully do so) shall not at any time insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay or extension law
wherever enacted, now or at any time hereafter in force, that may affect the covenants or the performance of this Indenture; and the Company (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of
any such law, and shall not hinder, delay or impede the execution of any power herein granted to the Trustee, but shall suffer and permit the execution of every such power as though no such law had been enacted. 

ARTICLE 7. 

TRUSTEE 

Section 7.01 Duties of Trustee. 
 (a) If an Event of Default has occurred and is continuing, the Trustee shall exercise the rights and powers vested in it by this Indenture, and use the same degree of care and skill in its exercise, as a
prudent Person would exercise or use under the circumstances in the conduct of such Person’s own affairs. 
 (b) Except
during the continuance of an Event of Default: 
 (i) the Trustee undertakes to perform such duties and only such duties as are
specifically set forth in this Indenture and no implied covenants or obligations shall be read into this Indenture against the Trustee; and 

  
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 (ii) in the absence of bad faith on its part, the Trustee may conclusively rely, as to the
truth of the statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture; provided, however, that the Trustee will
examine the certificates and opinions to determine whether they conform to the requirements set forth in this Indenture. 
 (c)
The Trustee may not be relieved from liabilities for its own negligent action, its own negligent failure to act, or its own willful misconduct, except that: 
 (i) this paragraph does not limit the effect of Section 7.01; 
 (ii) the
Trustee shall not be liable for any error of judgment made in good faith by a Trust Officer unless it is proved that the Trustee was negligent in ascertaining the pertinent facts; and 

(iii) the Trustee shall not be liable with respect to any action it takes or omits to take in good faith in accordance with a direction
received by it pursuant to Section 6.05 hereof. 
 (d) Whether herein expressly so provided, every provision of this
Indenture that in any way relates to the Trustee is subject to Sections 7.01(a), (b) and (c). 
 (e) The Trustee shall not
be liable for interest on any money received by it or risk or expend any of its own funds. 
 (f) Money held in trust by the
Trustee need not be segregated from other funds except to the extent required by law. 
 (g) No provision of this Indenture
shall require the Trustee to expend or risk its own funds or otherwise incur financial liability in the performance of any of its duties hereunder or in the exercise of any of its rights or powers. 

(h) Every provision of this Indenture relating to the conduct or affecting the 

liability of or affording protection to the Trustee shall be subject to the provisions of this Article 7 and to the provisions of
the TIA, and the provisions of this Article 7 shall apply to the Trustee, Registrar, Paying Agent and Conversion Agent. 

(i) The Trustee shall not be deemed to have notice of a Default or an Event of Default unless (i) a Trust Officer of the Trustee has
received written notice at its Corporate Trust Office thereof from the Company or any Holder or (ii) a Trust Officer shall have actual knowledge thereof. 
 Section 7.02 Rights of Trustee. 
 (a) The Trustee may conclusively rely
upon any document believed by it to be genuine and to have been signed or presented by the proper person. The Trustee need not investigate any fact or matter stated in the document. The Trustee may, however, in its 

  
 40 

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

(b) Before the Trustee acts or refrains from acting (except in connection with an application for authorization of Notes pursuant to
Section 2.02), it may require an Officer’s Certificate or an Opinion of Counsel. The Trustee shall not be liable for any action it takes or omits to take in good faith in reliance on the Officer’s Certificate or Opinion of Counsel.

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

 (e) The Trustee may consult with counsel of its own selection, and the written advice or opinion of counsel with respect to
legal matters relating to this Indenture and the Notes shall be full and complete authorization and protection from liability in respect to any action taken, omitted or suffered by it hereunder in good faith and in accordance with the advice or
opinion of such counsel. 
 (f) The permissive rights of the Trustee to do things enumerated in this Indenture shall not be
construed as a duty unless so specified herein. 
 (g) The Trustee shall be under no obligation to exercise any of the rights or
powers vested in it by this Indenture at the request or direction of any of the Holders pursuant to this Indenture, unless such Holders shall have offered to the Trustee security or indemnity reasonably satisfactory to the Trustee against the costs,
expenses and liabilities that might be incurred by it in compliance with such request or direction. 
 (h) The rights,
privileges, protections, immunities and benefits given to the Trustee, including, without limitation, its right to be indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder, and each agent,
custodian and other Person employed to act hereunder, including, without limitation, the Registrar, Paying Agents and Conversion Agent. 
 (i) The Trustee may request that the Company deliver an Officer’s Certificate setting forth the names of individuals and/or titles of officers authorized at such time to take specified actions
pursuant to this Indenture, which Officer’s Certificate may be signed by any Person authorized to sign an Officer’s Certificate, including any Person specified as so authorized in any such certificate previously delivered and not
superseded. 

  
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 Section 7.03 Individual Rights of Trustee. The Trustee in its individual or any
other capacity may become the owner or pledgee of Notes and may otherwise deal with the Company or its affiliates with the same rights it would have if it were not Trustee. However, if the Trustee acquires any conflicting interest it must
eliminate the conflict within 90 days, if this Indenture has been qualified under the TIA, apply to the SEC to continue as trustee, or resign. Any Paying Agent, Registrar, Conversion Agent or co-registrar may do
the same with like rights. However, the Trustee must comply with Sections 7.10 and 7.11. 
 Section 7.04
Trustee’s Disclaimer. The Trustee shall not be responsible for and makes no representation as to the validity, priority or adequacy of this Indenture or the Notes, it shall not be accountable for the Company’s use of
the proceeds from the Notes, and it shall not be responsible for any statement of the Company in this Indenture or in any document issued in connection with the sale of the Notes or in the Notes other than the Trustee’s certificate of
authentication. 
 Section 7.05 Notice of Defaults. If a Default or Event of Default occurs and is
continuing, the Trustee shall mail to each Holder notice of the Default or Event of Default within 90 days after it is known to a Trust Officer or written notice of it is received by the Trustee; provided, however, that except
in the case of a Default described in Section 6.01(a)(i), 6.01(a)(ii) or 6.01(iii), the Trustee may withhold the notice if and so long as a committee of its Trust Officers in good faith determines that withholding the notice is in
the interests of Holders. The second sentence of this Section 7.05 shall be in lieu of the proviso to TIA Section 315(b) and such proviso is hereby expressly excluded from this Indenture, as permitted by the TIA. 

Section 7.06 Reports by Trustee to Holders. Within 120 days of each December 31, commencing on
December 31, 2013, and for so long as any Notes remain outstanding, the Trustee shall mail to each Holder a brief report dated as of January 31 of such year that complies with TIA Section 313(a), if and to
the extent required by such subsection. The Trustee shall also comply with TIA Section 313(b). The Trustee will also transmit by mail all reports as required by TIA 313(c). 

A copy of each report at the time of its mailing to Holders shall be mailed by the Trustee to the Company and filed with the SEC and each
stock exchange (if any) on which the Notes are listed. The Company agrees to notify promptly the Trustee whenever the Notes become listed on any stock exchange and of any delisting thereof. 

Section 7.07 Compensation and Indemnity. The Company shall pay to the Trustee from time to time such compensation as shall be
agreed upon from time to time in writing for its services. The Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Company shall reimburse the Trustee upon request for all reasonable
out-of-pocket fees and expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include the reasonable compensation, fees and expenses,
disbursements and advances of the Trustee’s agents, counsel, accountants and experts. The Company shall fully indemnify the Trustee against any and all loss, liability, claim, damage or expense (including
reasonable attorneys’ fees and expenses) incurred by it in connection with the acceptance and administration of this trust and the performance of its duties hereunder, including the costs and expenses of defending itself against

  
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any claim (whether asserted by the Company, any Holder or any other Person). The Trustee shall notify the Company promptly of any claim for which it may seek indemnity. Failure by the
Trustee to so notify the Company of any claim for which it may seek indemnity of which a Trust Officer has actually received written notice shall not relieve the Company of its obligations hereunder except to the extent such failure shall have
materially prejudiced the Company. The Company shall defend the claim and the Trustee shall cooperate in the defense. If the Trustee is advised by counsel in writing that it may have available to it defenses which are in conflict with the defenses
available to the Company, then the Trustee may have separate counsel and the Company shall pay the reasonable fees and expenses of such counsel. The Company need not reimburse any expense or indemnify against any loss, liability or expense incurred
by the Trustee through the Trustee’s own willful misconduct or negligence. The Company need not pay for any settlement made by the Trustee without the Company’s consent, such consent not to be unreasonably withheld. All indemnifications
and releases from liability granted hereunder to the Trustee shall extend to its officers, directors, employees, agents, attorneys, custodians, successors and assigns. 
 (a) To secure the Company’s payment obligations under this Section 7.07, the Trustee shall have a lien prior to the Notes on all money or property held or collected by the Trustee to pay amounts
due on the Notes or in accordance with the terms of this Indenture other than money or property held in trust to pay the principal, accrued and unpaid interest (including Additional Interest and Special Interest), if any, or payment of the
Fundamental Change Purchase Price on particular Notes. 
 (b) The Company’s payment obligations pursuant to this
Section 7.07 shall survive the resignation or removal of the Trustee and the discharge of this Indenture. If the Trustee incurs expenses after the occurrence of a Default specified in Sections 6.01(viii) or 6.01 (ix) with respect to the
Company, the expenses are intended to constitute expenses of administration under the Bankruptcy Law. 
 Section 7.08
Replacement of Trustee. (a) The Trustee may resign at any time by notifying the Company in writing at least 30 days prior to the proposed resignation. The Holders of a majority in aggregate principal amount of the Notes then outstanding
may remove the Trustee by notifying the Trustee in writing. The Company may remove the Trustee if: 
 (i) the Trustee fails to
comply with Section 7.10; 
 (ii) the Trustee is adjudged bankrupt or insolvent; 

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

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

  
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 (c) A successor Trustee shall deliver a written acceptance of its appointment to the
retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor
Trustee shall mail a notice of its succession to Holders. The retiring Trustee shall upon payment of all of its costs and the costs of its agents and counsel promptly transfer all property held by it as Trustee to the successor Trustee, subject to
the lien provided for in Section 7.07. 
 (d) If a successor Trustee does not take office within 60 days after the retiring
Trustee resigns or is removed, the retiring Trustee, the Company or the Holders of at least 10% in aggregate principal amount of the Notes then outstanding may petition at the expense of the Company any court of competent jurisdiction for the
appointment of a successor Trustee. 
 (e) If the Trustee, after written request by any Holder, fails to comply with
Section 7.10, such Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. 
 (f) Notwithstanding the replacement of the Trustee pursuant to this Section 7.08, the Company’s obligations under Section 7.07 shall continue for the benefit of the retiring Trustee.

 Section 7.09 Successor Trustee by Merger. (a) If the Trustee consolidates with, merges or converts
into, or transfers all or substantially all its corporate trust business or assets to, another corporation or banking association, the resulting, surviving or transferee corporation or banking association without any
further act shall be the successor Trustee. 
 (b) In case at the time such successor or successors by merger, conversion or
consolidation to the Trustee shall succeed to the trusts created by this Indenture, any of the Notes shall have been authenticated but not delivered, any such successor to the Trustee may adopt the certificate of authentication of any predecessor
trustee, and deliver such Notes so authenticated; and in case at that time any of the Notes shall not have been authenticated, any such successor to the Trustee may authenticate such Notes either in the name of any predecessor hereunder or in the
name of the successor to the Trustee. 
 Section 7.10 Eligibility; Disqualification. The Trustee shall at all times
satisfy the requirements of TIA Section 310(a). The Trustee shall have (or, in the case of a corporation included in a bank holding company system, the related bank holding company shall have) a combined capital and surplus of at
least $100,000,000 as set forth in its (or its related bank holding company’s) most recent published annual report of condition. The Trustee shall comply with TIA Section 310(b), subject to the penultimate paragraph thereof;
provided, however, that there shall be excluded from the operation of TIA Section 310(b)(1) any indenture or indentures under which other securities or certificates of interest or participation in other securities of the Company
are outstanding if the requirements for such exclusion set forth in TIA Section 310(b)(1) are met. 
 Section 7.11
Preferential Collection of Claims Against Company. The Trustee shall comply with TIA Section 311(a), excluding any creditor relationship listed in TIA Section 311(b). A Trustee who has resigned or been removed shall be
subject to TIA Section 311(a) to the extent indicated therein. 

  
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 Section 7.12 Trustee’s Application for Instructions from the Company. Any
application by the Trustee for written instructions from the Company may, at the option of the Trustee, set forth in writing any action proposed to be taken or omitted by the Trustee under this Indenture and the date on and/or after
which such action shall be taken or such omission shall be effective. The Trustee shall not be liable to the Company for any action taken by, or omission of, the Trustee in accordance with a proposal included in such application on or
after the date specified in such application (which date shall not be less than three Business Days after the date any officer of the Company actually receives such application, unless any such officer shall have consented in writing to any
earlier date) unless prior to taking any such action (or the effective date in the case of any omission), the Trustee shall have received written instructions in response to such application specifying the action to be taken or omitted.

 ARTICLE 8. 
 DISCHARGE OF INDENTURE 
 Section 8.01 Discharge of Liability on
Notes. When (a) the Company delivers to the Registrar all outstanding Notes (other than Notes replaced pursuant to Section 2.07) for cancellation or (b) all outstanding Notes have become due and payable, and the Company
irrevocably deposits with the Trustee or delivers to the Holders, as applicable, cash and/or shares of Common Stock (solely to satisfy outstanding conversions, if applicable) sufficient to pay all amounts due and owing on all
outstanding Notes (other than Notes replaced pursuant to Section 2.07), and if in either case the Company pays all other sums payable hereunder by the Company with respect to the outstanding Notes, then this Indenture
shall, subject to Section 7.07, cease to be of further effect with respect to the Notes or any Holders. The Trustee shall acknowledge satisfaction and discharge of this Indenture with respect to the Notes on demand of the Company
accompanied by an Officer’s Certificate and an Opinion of Counsel and at the cost and expense of the Company. 

Section 8.02 Repayment to the Company. The Trustee and the Paying Agent shall promptly turn over to the Company upon request
any excess money or securities held by them at any time. 
 Subject to any applicable abandoned property law, the Trustee and
the Paying Agent shall pay to the Company upon request any money held by them for payments on the Notes that remains unclaimed for two years after the date on which such payments became due, and, thereafter, Holders entitled to the money must look
to the Company for payment as general creditors and all liability of the Trustee or Paying Agent with respect to such money will cease. 
 ARTICLE 9. 
 AMENDMENTS 

Section 9.01 Without Consent of Holders. The Company and the Trustee may amend or supplement this Indenture or the Notes
without notice to, or the consent of, any Holder to: 
 (a) cure any ambiguity, omission, defect or inconsistency in this
Indenture or in the Notes in a manner that does not adversely affect the Holders; 

  
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 (b) provide for the assumption by a successor corporation of the Company’s obligations
under this Indenture and the Notes as described in Article 5 hereof; 
 (c) make provisions with respect to the conversion
rights of the Holders in accordance with Section 10.06 hereof; 
 (d) appoint a successor Trustee with respect to the
Notes; 
 (e) add guarantees with respect to the Notes; 

(f) secure the Notes; 
 (g) add to the Company’s covenants for the benefit of the Holders or surrender any right or power conferred upon the Company; 
 (h) make any change that does not adversely affect the rights of any Holder; 
 (i)
comply with any requirements of the SEC in connection with the qualification of this Indenture under the TIA; or 
 (j) conform
the terms of this Indenture or the Notes to the “Description of Notes” section of the Offering Memorandum. 

Section 9.02 With Consent of Holders. With the written consent of the Holders of at least a majority in aggregate principal
amount of the Notes at the time outstanding (including, without limitation, consents obtained in connection with a purchase of, or tender offer or exchange offer for, the Notes), by Act of such Holders delivered to the Company
and the Trustee, the Company, when authorized by a Board Resolution, may amend or supplement this Indenture or the Notes; provided, however, that, without the consent of each affected Holder, no amendment, supplement or waiver to this
Indenture or the Notes may: 
 (a) change the Maturity Date of the principal of or any interest (including any Additional
Interest or Special Interest) on the Notes; 
 (b) reduce the principal amount of or interest (including any Additional Interest
or Special Interest) on the Notes; 
 (c) reduce the Fundamental Change Purchase Price of any Note or amend or modify the
provisions with respect to the purchase rights of the Holders as set forth in Article 3 in a manner adverse to the Holders; 

(d) reduce the amount of principal payable upon acceleration of the maturity of the Notes; 

  
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 (e) change the currency of payment of principal of (including the Fundamental Change
Purchase Price) or interest (including any Additional Interest or Special Interest) on the Notes or change any Note’s place of payment; 
 (f) impair the right of any Holder to receive payment of principal of and interest on such Holder’s Notes, or consideration due upon conversion, on or after the due dates therefor or to institute
suit for the enforcement of any payment on, or with respect to, the Notes or the consideration due upon conversion, as set forth in Article 10; 
 (g) change the ranking of the Notes; 
 (h) impair or adversely affect the right of
Holders to convert Notes or otherwise modify the provisions with respect to conversion, or reduce the Conversion Rate, subject to such modifications as are required under this Indenture; or 

(i) modify provisions with respect to modification, amendment or waiver (including waiver of Events of Default), except to increase the
percentage required for modification, amendment or waiver or to provide for consent of each affected Holder of Notes. 
 It
shall not be necessary for the consent of the Holders under this Section 9.02 to approve the particular form of any proposed amendment, but it shall be sufficient if such consent approves the substance thereof. 

Section 9.03 Execution of Supplemental Indentures. Upon the request of the Company, the Trustee shall sign any
supplemental indenture authorized pursuant to this Article 9 if the amendment contained therein does not affect the rights, duties, liabilities or immunities under this Indenture of the Trustee. If the supplemental indenture
adversely affects the Trustee’s rights, duties, liabilities or immunities under this Indenture, then the Trustee may, but need not, sign such supplemental indenture. In executing any such supplemental
indenture, the Trustee shall be provided with, and (subject to the provisions of Section 7.01) shall be fully protected in relying upon, an Officer’s Certificate and an Opinion of Counsel stating that such supplemental
indenture is authorized and permitted under this Indenture. 
 Section 9.04 Notices of Supplemental Indentures.
After an amendment or supplement to this Indenture or the Notes pursuant to Sections 9.01 or 9.02 becomes effective, the Company shall deliver to each Holder a notice briefly describing such amendment or supplement to this Indenture. The
failure to deliver such notice, or any defect in such notice, shall not impair or affect the validity of such amendment or supplement to this Indenture. 
 Section 9.05 Effect of Supplemental Indentures. Upon the execution of any supplemental indenture under this Article 9, (i) this Indenture shall be modified in accordance
therewith, (ii) such supplemental indenture shall form a part of this Indenture for all purposes, and (iii) every Holder of Notes theretofore or thereafter authenticated and delivered hereunder shall be bound thereby.

 Section 9.06 Conformity with Trust Indenture Act. Every supplemental indenture executed pursuant to this
Article shall, if required, comply with the TIA. 

  
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 Section 9.07 Notation on or Exchange of Notes. Notes authenticated and delivered
after the execution of any supplemental indenture pursuant to this Article 9 may, and shall, if required by the Trustee, bear a notation in form approved by the Trustee as to any matter provided for in such supplemental
indenture. If the Company shall so determine, new Notes so modified as to conform, in the opinion of the Trustee and the Board of Directors, to any such supplemental indenture may be prepared and executed by the Company and
authenticated and delivered by the Trustee in exchange for outstanding Notes. 
 Section 9.08 Revocation and Effect of
Consents, Waivers and Actions. A consent to an amendment or a waiver by a Holder of a Note shall bind the Holder and every subsequent Holder of that Note or portion of the Note that evidences the same debt as the consenting Holder’s
Note, even if notation of the consent or waiver is not made on the Note. However, any such Holder or subsequent Holder may revoke the consent or waiver as to such Holder’s Note or portion of the 

Note if the Trustee receives the notice of revocation before the date the supplemental indenture setting forth the amendment or waiver
becomes effective. After an amendment or waiver becomes effective, it shall bind every Holder. An amendment or waiver becomes effective in accordance with the terms of the supplemental indenture, which shall become effective upon the execution
thereof by the Trustee. 
 The Company may, but shall not be obligated to, fix a record date for the purpose of determining the
Holders entitled to give their consent or take any other action described above or required or permitted to be taken pursuant to this Indenture. If a record date is fixed, then those Persons who were Holders at such record date (or their duly
designated proxies), and only those Persons, shall be entitled to give such consent or to revoke any consent previously given or to take any such action, whether or not such Persons continue to be Holders after such record date. No such consent
shall be valid or effective for more than 120 days after such record date. 
 ARTICLE 10. 

CONVERSIONS 
 Section 10.01 Conversion Privilege and Consideration. 
 (a) Subject to
and upon compliance with the provisions of this Indenture, a Holder shall have the right, at such Holder’s option, to convert the principal amount of its Notes, or any portion of such principal amount that is equal to $1,000 or an integral
multiple thereof, at a conversion rate initially equal to 18.5046 shares of Common Stock (subject to adjustment as provided in Sections 10.05 and 10.07, the “Conversion Rate”) per $1,000 principal amount of Notes, into an amount of
cash and a number of shares of Common Stock, if any, determined in accordance with Section 10.03, (x) at any time prior to the Close of Business on the Business Day immediately preceding April 1, 2018, only upon the satisfaction of
one or more of the conditions described in clauses (i) through (iv) below, and (y) on and after April 1, 2018, at any time until the Close of Business on the second Scheduled Trading Day immediately preceding the Maturity Date,
without regard to the conditions described in clauses (i) through (iv) below: 
 (i) During any calendar quarter (and
only during such calendar quarter) commencing after September 30, 2013 if, for at least 20 Trading Days (whether or not 

  
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consecutive) during the 30 consecutive Trading Day period ending on the last Trading Day of the immediately preceding calendar quarter, the Last Reported Sale Price of the Common Stock is greater
than or equal to 130% of the applicable Conversion Price on each applicable Trading Day. If the Notes become convertible in accordance with this Section 10.01(a)(i), as promptly as practicable, the Company shall notify the Holders that the
condition to conversion described in this Section 10.01(a)(i) has been satisfied and of the Holders’ right to convert their Notes. 
 (ii) During the five consecutive Business Day period immediately following any five consecutive Trading Day period (the “Measurement Period”) in which, for each Trading Day of such
Measurement Period, 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 10.01(a)(ii), is less than 98% of the product of (x) the
Last Reported Sale Price of the Common Stock on such Trading Day and (y) the Conversion Rate on such Trading Day (for any Trading Day, the “Trading Price Product”). 

(A) Unless the Company requests that the Bid Solicitation Agent determine the Trading Price of the Notes, the Bid Solicitation Agent
shall have no obligation to determine the Trading Price of the Notes, and unless a Holder of at least $5,000,000 principal amount of Notes (x) provides the Company with reasonable evidence that the Trading Price per $1,000 principal amount of
Notes for the immediately following Trading Day will be less than 98% of the Trading Price Product for such Trading Day and (y) requests that the Company require the Bid Solicitation Agent to determine the Trading Price of the Notes on the
immediately following Trading Day, the Company shall have no obligation to request that the Bid Solicitation Agent determine the Trading Price of the Notes on such Trading Day. 

(B) Upon receipt from a Holder of such evidence and such a request, the Company shall promptly instruct the Bid Solicitation Agent to
determine (or, if the Company is then acting as Bid Solicitation Agent, the Company shall determine) the Trading Price of the Notes beginning on the next Trading Day and on each successive Trading Day until a Trading Day occurs in which the Trading
Price per $1,000 principal amount of Notes for such Trading Day is greater than or equal to 98% of the Trading Price Product for such Trading Day. 
 (C) As promptly as practicable after the condition to conversion described in this Section 10.01(a)(ii) has been met, the Company shall notify the Holders of the Trading Price and of the
Holders’ right to convert their Notes in accordance with this Section 10.01(a)(ii). On the first Trading Day thereafter on which the Trading Price per $1,000 principal amount of Notes for such Trading Day is greater than or equal to 98% of
the Trading Price Product for such Trading Day, as promptly as practicable, the Company shall notify the Holders of such Trading Price and that the condition to conversion described in this Section 10.01(a)(ii) is no longer satisfied.

 (iii) If, prior to the Close of Business on the Business Day immediately preceding April 1, 2018, the Company elects to:

 (A) distribute to all or substantially all holders of its Common Stock rights, options or warrants that entitle them, for a
period of not more than 45 calendar days from the date of such declaration, to subscribe for or purchase shares of Common Stock at a price per 

  
 49 

 
share of Common Stock less than the average of the Last Reported Sale Prices of the Common Stock for the ten consecutive Trading Day period ending on, and including, the Trading Day immediately
preceding the date of announcement of such distribution; or 
 (B) distribute to all or substantially all holders of the Common
Stock the Company’s assets, debt securities or rights to purchase securities of the Company, which distribution has a per share value, as reasonably determined by the Board of Directors, exceeding 10% of the Last Reported Sale Price of the
Common Stock on the Trading Day immediately preceding the date of announcement for such distribution, then, in each case, at least 50 Scheduled Trading Days immediately prior to the Ex-Dividend Date for such issuance or distribution, the Company
shall deliver notice to the Holders describing such issuance or distribution, the Holders’ right to convert their Notes in accordance with this Section 10.01(a)(iii), the Conversion Rate in effect on the date the Company deliver such
notice, any adjustments to the Conversion Rate that must be made pursuant to Section 10.05 as a result of such issuance or distribution, and the effective date for any such adjustments. Once the Company has given such notice, a Holder may
surrender its Notes for conversion at any time until the earlier of (x) the Close of Business on the Business Day immediately preceding the Ex-Dividend Date for the issuance or distribution or (y) the Company’s announcement that such
issuance or distribution will not take place. 
 (iv) If, prior to the Close of Business on the Business Day immediately
preceding April 1, 2018, (a) a transaction or event that constitutes a Fundamental Change or a Make-Whole Fundamental Change occurs, in each case, without giving effect to the penultimate paragraph of the definition of Fundamental Change
and regardless of whether the Holders have the right to require the Company to purchase their Notes pursuant to Section 3.02 or (b) the Company is a party to a consolidation, merger, combination, statutory or binding share exchange or
similar transaction involving the Company pursuant to which the Common Stock would be converted into, or exchanged for, cash, securities or other property or assets, or any sale, conveyance, lease or other transfer or similar transaction in one
transaction or a series of transactions of all or substantially all of the consolidated assets of the Company and the Company’s Subsidiaries, taken as a whole, (each of clause (a) and (b), a “Specified Corporate
Transaction”) then the Company shall deliver notice (a “Specified Corporate Transaction Notice”) of such Specified Corporate Transaction to the Holders as promptly as practicable after the Company publicly announces such
transaction; provided that, for any Specified Corporate Transaction, the Company will deliver the Specified Corporate Transaction Notice for such Specified Corporate Transaction no later than the effective date for such Specified Corporate
Transaction. For any Specified Corporate Transaction, the Specified Corporate Transaction Notice shall describe: 
 (A) such
Specified Corporate Transaction; 
 (B) the anticipated effective date of such Specified Corporate Transaction; 

(C) the Holders’ right to convert their Notes in accordance with this Section 10.01(a)(iv); 

  
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 (D) the Conversion Rate in effect on the date the Company mails such notice; 

(E) any adjustments to the Conversion Rate that must be made pursuant to Section 10.05 as a result of such Specified Corporate
Transaction; 
 (F) whether such Specified Corporate Transaction also constitutes a Fundamental Change, and, if so, the
Holders’ right to require the Company to purchase their Notes pursuant to Article 3; and 
 (G) whether such
Specified Corporate Transaction also constitutes a Make-Whole Fundamental Change, and, if so, the Holders’ right under Section 10.07 to receive Additional Shares if they convert their Notes in connection with such Make-Whole Fundamental
Change. 
 Upon the Company’s delivery of a Specified Corporate Transaction Notice for a Specified Corporate Transaction, a
Holder may surrender its Notes for conversion at any time from or after the date that is 50 Scheduled Trading Days prior to the anticipated effective date of the Specified Corporate Transaction (or, if later, the Business Day after the Company gives
notice of such transaction) until the Close of Business on the earliest of (y) the 35th Trading Day immediately following the effective date of such Specified Corporate Transaction or (z) if such Specified Corporate Transaction constitutes
a Fundamental Change, until the Close of Business on the Business Day immediately preceding the related Fundamental Change Purchase Date. 
 Section 10.02 Conversion Procedure. 
 (a) To convert a Note, a Holder
must (i) in the case of a Global Note, (A) comply with the procedures of the Depositary in effect on the date such Holder surrenders its Note for conversion and (B) if required, pay all funds required under Sections 10.02(e) and
10.02(f) below, and (ii) in the case of a Certificated Note, (A) complete and manually sign the conversion notice in the form on the reverse of such Certificated Note (a “Notice of Conversion”) or a facsimile of the Notice
of Conversion, (B) deliver the Notice of Conversion, which is irrevocable, and the Certificated Note to the Conversion Agent, (C) if required, furnish appropriate endorsements and transfer documents, (D) if required, pay all transfer
or similar taxes under Section 10.02(f), and (E) if required, pay all funds required under Sections 10.02(e) and 10.02(f) below. 
 (i) On the first Business Day on which such Holder satisfies all of the requirements set forth in Section 10.02(a) above with respect to a Note (and the conversion of such Note is not otherwise
prohibited by Section 3.05 hereof), such Note will be deemed converted and such Business Day will be the conversion date (the “Conversion Date”) for such Note. 

(ii) If the last day on which a Note may be converted is not a Business Day, the Note may be surrendered on the immediately following day
that is a Business Day. Upon the conversion of a Note, the Conversion Agent, as promptly as possible, and in no event later than one Business Day immediately following the Conversion Date for the Note, will provide the Company with notice of the
conversion of the Note, and the Company, as promptly as possible, and in no event later than two Business Days after such Conversion Date, will notify the Trustee, if other than the Conversion Agent, of the conversion of the Note. 

  
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 (b) If a Holder converts the entire principal amount of a Note, such Person will no longer
be a Holder of such Note. 
 (c) If a Holder surrenders only a portion of a Certificated Note for conversion, promptly after the
Conversion Date for such portion, the Company shall execute and the Trustee shall authenticate and deliver to such Holder, a new Certificated Note in an authorized denomination equal to the aggregate principal amount of the unconverted portion of
the surrendered Note. Upon the conversion of an interest in a Global Note, the Trustee shall promptly make a notation on the “Schedule of Increases and Decreases of Global Note” of such Global Note as to the reduction in the
principal amount represented thereby. The Company shall notify the Trustee in writing upon any conversion of a Note effected through any Conversion Agent other than the Trustee. 

(d) If any shares of Common Stock are issuable upon the conversion of a Note, the Person in whose name the certificate or certificates
for such shares of Common Stock will be registered will become the holder of record of such shares at the Close of Business on the last VWAP Trading Day of the Observation Period corresponding to the Conversion Date for such Note. 

(e) If a Holder surrenders a Note for conversion after the Close of Business on a Record Date and prior to the Open of Business on the
corresponding Interest Payment Date, the Holder must accompany the Note with an amount of cash equal to the amount of interest (including any Additional Interest and Special Interest), if any, that will be payable on the Note on such corresponding
Interest Payment Date; provided, however, that a Holder need not make such a payment (i) if the Company has specified a Fundamental Change Purchase Date that is after the Record Date and on or prior to the corresponding Interest
Payment Date, (ii) to the extent of any overdue interest on the Note, if any overdue interest exists at the time of conversion, or (iii) if the Holder surrenders the Note after the Close of Business on the last Record Date immediately
preceding the Maturity Date. For the avoidance of doubt, all Holders on the Record Date immediately preceding the Maturity Date will receive and retain the full interest payment due on the Maturity Date regardless of whether their Notes are
converted following such Record Date. 
 (f) If a Holder surrenders a Note for conversion, the Company shall pay all
documentary, stamp or similar issue or transfer tax, if any, which may be imposed by the United States or any political subdivision thereof or taxing authority thereof or therein with respect to the issuance of shares of Common Stock, if any, upon
the conversion. However, if any tax is due because the Holder requests that any shares of Common Stock issued upon conversion be issued in a name other than that of the Holder, the Holder shall pay such tax and the Conversion Agent, until having
received a sum sufficient to pay such tax, may refuse to deliver any certificates representing shares of Common Stock being issued in a name other than that of the converting Holder. Nothing herein shall preclude any tax withholding required by law
or regulations. 

  
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 Section 10.03 Settlement Upon Conversion. 

(a) Except as provided in Section 10.07(d), if a Holder surrenders a Note for conversion, the Company will satisfy its obligation to
convert the Note by delivering, on the third Business Day immediately following the final VWAP Trading Day of the Observation Period corresponding to the Conversion Date for such Note, cash and shares of Common Stock, if any, equal to the sum of the
Daily Settlement Amount for each of the 40 consecutive VWAP Trading Days during the Observation Period for such Note; provided, however, that with respect to conversions that occur on or after the Record Date for the final Interest Payment on
the Notes (i.e. June 15, 2018), the Company will deliver such conversion due on the Maturity Date. 
 (b) Notwithstanding
the provisions of Section 10.03(a), the Company may elect to settle all or a portion of the Daily Share Amounts for each VWAP Trading Day in the Observation Period relating to a Conversion Date in cash (a “Cash Election”).

 (i) To make a Cash Election with respect to all or a portion of the Daily Share Amounts for each Trading Day in the
Observation Period relating to a Conversion Date, the Company must deliver notice (a “Cash Percentage Notice”) to all Holders converting Notes on such Conversion Date, the Trustee and the Conversion Agent (y) no later than the
Close of Business on the Business Day immediately following such Conversion Date , or (z) with respect to all conversions occurring on or after April 1, 2018, no later than the Close of Business on the Business Day immediately preceding
April 1, 2018. The Cash Percentage Notice for a Conversion Date must specify the single percentage of the Daily Share Amounts for each VWAP Trading Day in the Observation Period for such Conversion Date that the Company will settle in cash (the
“Cash Percentage”); provided that to make a Cash Election with respect to a Conversion Date occurring on or after the 42nd Scheduled Trading Day immediately preceding the Maturity Date, the Company must (A) irrevocably
specify a single Cash Percentage that will apply to every Conversion Date occurring on or after the 42nd Scheduled Trading Day immediately preceding the Maturity Date and (B) deliver a Cash Percentage Notice specifying such Cash Percentage to
every Holder on or prior to the Scheduled Trading Day immediately preceding the 42nd Scheduled Trading Day immediately preceding the Maturity Date. 
 (ii) If the Company timely delivers a Cash Percentage Notice for a Conversion Date, (x) the amount of cash that the Company will deliver in lieu of the applicable portion of the shares of Common
Stock comprising the Daily Share Amount for a VWAP Trading Day in the Observation Period relating to such Conversion Date will equal the product of (A) the Cash Percentage specified in the Cash Percentage Notice for such Conversion Date,
(B) the Daily Share Amount for such VWAP Trading Day (calculated as if the Company had not specified a Cash Percentage), and (C) the Daily VWAP for such VWAP Trading Day, and (y) the number of shares of Common Stock that the Company
will deliver as part of the Daily Share Amount for such VWAP Trading Day, which will equal the product of (A) 100% minus the Cash Percentage for such Conversion Date and (B) the Daily Share Amount for such VWAP Trading Day (calculated as
if the Company had not specified a Cash Percentage). 
 (iii) If, for any Conversion Date, the Company fails to deliver a Cash
Percentage Notice in accordance with Section 10.03(b)(i), the Company must instead settle the Daily Share Amount for each VWAP Trading Day in the Observation Period relating to such Conversion Date by delivering a number of shares of Common
Stock, if any, determined in accordance with Section 10.03(a). 

  
 53 

 (c) Notwithstanding the foregoing, the Company will not issue fractional shares of Common
Stock as part of the Daily Share Amount. Instead, if the Daily Share Amount for any VWAP Trading Day includes a fraction of a share of the Common Stock, the Company will, in lieu of delivering such fraction of a share of Common Stock, pay an amount
of cash equal to the product of (i) such fraction of a share and (ii) the Daily VWAP for such VWAP Trading Day of such Observation Period. 
 (d) If a Holder surrenders more than one Note for conversion on a single day, the number of shares of Common Stock, if any, that the Company will deliver, and the amount of cash that the Company will pay
in lieu of fractional shares of Common Stock, if any, shall be determined based on the total principal amount of Notes surrendered by such Holder. 
 (e) If a Holder converts a Note, the Company will not adjust the Conversion Rate to account for any accrued and unpaid interest on the Note, and, except to the extent specified in the last sentence of
Section 11.01 or in Section 11.02(a), the Company will not make any cash payment to such Holder for any accrued and unpaid interest on the Note. Furthermore, except to the extent specified in the last sentence of Section 11.01 or in
Section 11.02(a), the Company’s delivery to such Holder of the amount of cash and the number of shares of Common Stock, if any, into which such Holder’s Note is convertible shall be deemed to satisfy and discharge in full the
Company’s obligation to pay to such Holder (i) the principal amount of such converted Note and (ii) any accrued and unpaid interest (including Additional Interest and Special Interest, but not Defaulted Interest), if any, to, but not
including the relevant Conversion Date, on such converted Note. As a result, except to the extent specified in the last sentence of Section 11.01 or in Section 11.02(a), any accrued and unpaid interest with respect to a converted Note
shall be deemed to be paid in full rather than cancelled, extinguished or forfeited. Upon a conversion of Notes into cash and, if applicable, shares of Common Stock, accrued and unpaid interest will be deemed to be paid first out of cash paid upon
such conversion. 
 (f) Notices. 
 (i) No later than the Close of Business on the Business Day immediately following the Conversion Date for any Notes, the Company shall deliver written notice to the Trustee stating (A) the aggregate
principal amount of Notes converted on such Conversion Date, (B) whether the Company has made a Cash Election with respect to such Conversion Date, and (C) if the Company has made a Cash Election for such Conversion Date, the Cash
Percentage for such Conversion Date. 
 (ii) On the first Business Day immediately following the last VWAP Trading Day of the
Observation Period for each Conversion Date, the Company shall deliver written notice to the Trustee stating (A) the aggregate principal amount of Notes that were converted on such Conversion Date, (B) the aggregate amount of cash and the
aggregate number of Shares that the Company is obligated to deliver to settle all of the Notes converted on such Conversion Date, and (C) the Daily Share Amounts and the Daily Settlement Amounts for each VWAP Trading Day of the Observation
Period for such Conversion Date. 
 Section 10.04 Company to Provide Stock. The Company shall, prior to
issuance of any shares of Common Stock under this Article 10, and from time to time as may be necessary, reserve out of its authorized but unissued shares of Common Stock a sufficient number of shares of Common Stock to permit the
conversion of the Notes. 

  
 54 

 (a) Any shares of Common Stock delivered upon conversion of the Notes shall be newly issued
shares or treasury shares, shall be duly and validly issued and fully paid and nonassessable, and shall be free from preemptive rights and shall be free of any lien or adverse claim (except any lien or adverse claim created by the action or inaction
of the Holder to whom such shares are delivered). The Company will endeavor promptly to comply with all federal and state securities laws regulating the offer and delivery of Common Stock, as applicable and if any, upon conversion of Notes;
provided, that the Company shall not be obligated to register the offer and sale of the Common Stock under the Securities Act or any other applicable securities laws. In addition, the Company will cause any such shares of Common Stock to be
listed on any stock exchange on which the Common Stock is then listed and will comply with any stock exchange rules applicable to the Notes and/or the Common Stock (or Reference Property) issuable upon conversion of the Notes. 

(b) If any shares of Common Stock issued upon conversion are required to bear a Restricted Stock Legend, such shares will be issued in
physical certificated form, will not be held in book-entry form through the facilities of the Depositary and shall be treated as “restricted securities” (as defined under Rule 144), and the Company will affix, or will direct its
transfer agent to affix the Restricted Stock Legend upon such shares. 
 Section 10.05 Adjustments to the Conversion
Rate. The Conversion Rate will be adjusted as described in this Section 10.05, except that the Company will not make any adjustments to the Conversion Rate for any Holder that may participate (as a result of holding the Notes,
and at the same time as the holders of the Common Stock participate) in any of the transactions described below as if such Holder held, for each $1,000 principal amount of Notes held, a number of shares of Common Stock equal to
the applicable Conversion Rate, without having to convert its Notes. 
 (a) Dividends, Distributions, Splits and
Combinations. If the Company exclusively issues shares of Common Stock as a dividend or distribution on 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: 
 CR1     = CR0 x
OS1

                   
       OS0 

where, 
  

					
	CR0	 	=	  	the Conversion Rate in effect immediately prior to the Open of Business on the Ex-Dividend Date of such dividend or distribution, or immediately prior to the Open of Business on the
effective date of such share split or share combination, as applicable;
			
	CR1	 	=	  	the Conversion Rate in effect immediately after the Open of Business on such Ex-Dividend Date or effective date, as applicable;
			
	OS0	 	=	  	the number of shares of Common Stock outstanding immediately prior to the Open of Business on such Ex-Dividend Date or effective date, as applicable;
and

  
 55 

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

 Any adjustment made under this Section 10.05(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 applicable. If any dividend or distribution of the type described in
this Section 10.05(a) is declared but not so paid or made, or the outstanding shares of Common Stock are not so 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 to effect such share split or share combination, to the Conversion Rate that would then be in effect if such dividend or distribution or share split or share combination had not been
declared. 
 (b) Adjustment for Rights Issue. If the Company distributes to all or substantially all holders of its
Common Stock any rights, options or warrants entitling them, for a period of not more than 45 calendar days after the declaration date of such distribution, to subscribe for or purchase shares of Common Stock at a price per share that is less than
the average of the Last Reported Sale Prices of the Common Stock for the 10 consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the declaration date of such distribution, the Conversion Rate shall be
increased based on the following formula: 
 CR1     = CR0 x
(OS0 + X) 

                   
       (OS0 + Y)

 where, 
  

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

 Any increase made under this Section 10.05(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 

  
 56 

 
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 the Conversion Rate that would then be in effect if such distribution
had not occurred. 
 For the purpose of this Section 10.05(b) and for the purpose of Section 10.01(a)(iii)(A), in
determining whether any rights, options or warrants entitle the holders to subscribe for or purchase shares of Common Stock at less than such average of the Last Reported Sale Prices of the Common Stock for the 10 consecutive Trading Day period
ending on, and including, the Trading Day immediately preceding the declaration date for such distribution, 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, the value of such consideration, if other than cash, to be determined by the Board of Directors. 

(c) Other Distributions. 
 If the Company distributes shares of its Capital Stock, evidences of its indebtedness, other assets or property of the Company or rights, options or warrants to acquire its Capital Stock or other
securities, to all or substantially all holders of the Common Stock, excluding: 
 (i) dividends or distributions
as to which an adjustment was effected pursuant to Section 10.05(a) or Section 10.05(b); 
 (ii)
dividends or distributions paid exclusively in cash as to which an adjustment was effected pursuant to Section 10.05(d); and 
 (iii) Spin-Offs as to which the provisions set forth below in this Section 10.05(c) shall apply, 
 (any of such shares of Capital Stock, evidences of indebtedness, other assets or property or rights, options or warrants to acquire Capital Stock or other securities of the Company, the
“Distributed Property”), then the Conversion Rate shall be increased based on the following formula: 
 CR1
    = CR0 x     SP0      

                   
         (SP0 -
FMV) 
 where, 
  

					
	CR0	 	=	  	the Conversion Rate in effect immediately prior to the Open of Business on the Ex-Dividend Date for such distribution;
			
	CR1	 	=	  	the Conversion Rate in effect immediately after the Open of Business on such Ex-Dividend Date;
			
	SP0	 	=	  	the average of the Last Reported Sale Prices of the Common Stock over the 10 consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the
Ex-Dividend Date for such distribution; and

  
 57 

					
	FMV	 	=	  	the fair market value (as determined by the Board of Directors) of the Distributed Property distributed with respect to each outstanding share of Common Stock as of the Open of
Business on the Ex-Dividend Date for such distribution.

 Any increase made under the portion of this Section 10.05(c) above 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 the Conversion Rate that would then be in effect if such distribution had
not been declared. 
 Notwithstanding the foregoing, if “FMV” (as defined above) is equal to or
greater than “SP0” (as defined above), in lieu of
the foregoing increase, each Holder of a Note shall receive, in respect of each $1,000 principal amount thereof, at the same time and upon the same terms as holders of the Common Stock, without having to convert its Notes, the amount and kind of
Distributed Property such Holder would have received if such Holder owned a number of shares of Common Stock equal to the Conversion Rate in effect on the Ex-Dividend Date for the distribution. 

If the Board of Directors determines the “FMV” (as defined above) of any distribution for purposes of this
Section 10.05(c) by reference to the actual or when-issued trading market for any securities, it shall in doing so consider the prices in such market over the same period used in computing “SP0” 

With respect to an adjustment pursuant to this Section 10.05(c) where there has been a payment of a dividend or other distribution
on the Common Stock of shares of Capital Stock of any class or series, or similar equity interest, of or relating to a Subsidiary or other business unit of the Company, that are, or, when issued, will be, listed or admitted for trading on a U.S.
national securities exchange (a “Spin-Off”), the Conversion Rate shall be increased based on the following formula: 
 CR1
    =     CR0 x
(FMV0 +
MP0) 

                   
          MP0  
 where, 
  

					
	CR0	 	=	  	the Conversion Rate in effect immediately prior to the Open of Business on the Ex-Dividend Date for such Spin-Off;
			
	CR1	 	=	  	the Conversion Rate in effect immediately after the Open of Business on the Ex-Dividend Date for such Spin-Off;
			
	FMV0	 	=	  	the average of the Last Reported Sale Prices of the Capital Stock or similar equity interest distributed to holders of the Common Stock applicable to one share of Common Stock
(determined by reference to the definition of “Last Reported Sale Price” as if references therein to Common Stock were to such Capital Stock or similar equity interest) over the first 10 consecutive Trading Day period after, and including,
the Ex-Dividend Date of the Spin-Off (the “Valuation Period”); and
			
	MP0	 	=	  	the average of the Last Reported Sale Prices of the Common Stock over the Valuation Period.

  
 58 

 The adjustment to the Conversion Rate under the preceding paragraph shall be determined on
the last Trading Day of the Valuation Period but shall be given effect at the Open of Business on the Ex-Dividend Date for such Spin-Off. Notwithstanding the foregoing, in respect of any conversion during the Valuation Period, references in the
portion of this Section 10.05(c) related to Spin-Offs with respect to 10 Trading Days shall be deemed to be replaced with such lesser number of Trading Days as have elapsed between the Ex-Dividend Date of such Spin-Off and the Conversion Date
in determining the Conversion Rate. If the Ex-Dividend Date for the Spin-Off is less than 10 Trading Days prior to, and including, the end of the Observation Period in respect of any conversion of Notes, references in the portion of this
Section 10.05(c) related to Spin-Offs with respect to 10 Trading Days shall be deemed to be replaced, solely in respect of that conversion of Notes, with such lesser number of Trading Days as have elapsed from, and including, the Ex-Dividend
Date for the Spin-Off to, and including, the last Trading Day of such Observation Period. 
 (d) Adjustment for Cash
Distributions. If the Company pays any cash dividend or distribution to all or substantially all holders of the Common Stock, the Conversion Rate shall be adjusted based on the following formula: 

CR1     = CR0 x     SP0      

                   
       (SP0 – C)

 where, 
  

					
	CR0	 	=	  	the Conversion Rate in effect immediately prior to the Open of Business on the Ex-Dividend Date for such dividend or distribution;
			
	CR1	 	=	  	the Conversion Rate in effect immediately after the Open of Business on the Ex-Dividend Date for such dividend or distribution;
			
	SP0	 	=	  	the Last Reported Sale Price of the Common Stock on the Trading Day immediately preceding the Ex-Dividend Date for such dividend or distribution; and
			
	C	 	=	  	the amount in cash per share of Common Stock the Company distributes to all or substantially all holders of the Common Stock.

 Any increase to the Conversion Rate pursuant to this Section 10.05(d) 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), 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 without having to convert its Notes, the amount of cash that such Holder would have received if such Holder
owned a number of shares of Common Stock equal to the Conversion Rate on the Ex-Dividend Date for such cash dividend or distribution. 

  
 59 

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

CR1     = CR0 x AC + (SP1 x OS1) 

                   
       (OS0 x SP1) 
 where, 
  

					
	CR0	 	=	  	the Conversion Rate in effect immediately prior to the Open of Business on the Trading Day next succeeding the date such tender or exchange offer expires (the “Expiration
Date”);
			
	CR1	 	=	  	the Conversion Rate in effect immediately after the Open of Business on the Trading Day next succeeding the Expiration Date;
			
	AC	 	=	  	the aggregate value of all cash and any other consideration (as determined by the Board of Directors) paid or payable for shares of Common Stock purchased in such tender or exchange
offer;
			
	OS0	 	=	  	the number of shares of Common Stock outstanding immediately prior to the consummation of the purchase of all shares of 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 consummation of the purchase of all shares of Common Stock accepted for purchase or exchange in such tender or
exchange offer; and
			
	SP1	 		  	the average of the Last Reported Sale Prices of the Common Stock over the 10 consecutive Trading Day period commencing on, and including, the Trading Day next succeeding the
Expiration Date.

 The increase to the Conversion Rate under this Section 10.05(e) shall be determined at the Close of
Business on the 10th Trading Day immediately following, and including, the Trading Day next succeeding the Expiration Date but shall be given effect at the Open of Business on the Trading Day next succeeding the Expiration Date. Notwithstanding the
foregoing, in respect of any conversion within the 10 Trading Days immediately following, and including, the Trading Day next succeeding any Expiration Date, references in this Section 10.05(e) with respect to 10 Trading Days shall be deemed
replaced with such lesser number of Trading Days as have elapsed between such Expiration Date and the Conversion Date in determining the Conversion Rate. In addition, if the Trading Day next succeeding the Expiration Date is less than 10 Trading
Days prior to, and including, the end of the Observation Period in respect of any conversion of Notes, references in this Section 10.05(e) to 10 Trading Days shall be deemed to be replaced, solely in respect of that conversion of Notes, with
such lesser number of Trading Days as have elapsed from, and including, the Trading Day next succeeding the 

  
 60 

 
Expiration Date to, and including, the last Trading Day of such Observation Period. For the avoidance of doubt, no adjustment under this Section 10.05(e) shall be made if such adjustment
would result in a decrease in the Conversion Rate. 
 In the event that the Company or one of its Subsidiaries is obligated to
purchase shares of Common Stock pursuant to any such tender offer or exchange offer, but the Company or such Subsidiary is permanently prevented by applicable law from effecting any such purchases, or all such purchases are rescinded, then the
Conversion Rate shall again be adjusted to be the Conversion Rate that would then be in effect if such tender offer or exchange offer had not been made. 
 As used in this Section 10.05, “effective date” means the first date on which the shares of Common Stock trade on the Relevant Stock Exchange, regular way, reflecting the relevant
share split or share combination, as applicable, and “record date” means, with respect to any dividend, distribution or other transaction or event in which holders of the Common Stock (or other applicable security) have the right to
receive any cash, securities or other property or in which the Common Stock (or such other security) is exchanged for or converted into any combination of cash, securities or other property, the date fixed for determination of holders of the Common
Stock (or such other security) entitled to receive such cash, securities or other property (whether such date is fixed by the Board of Directors, statute, contract or otherwise). 

(f) Holder Participation in Adjustment Events. Notwithstanding the foregoing, if pursuant to this Section 10.05, an
adjustment to the Conversion Rate becomes effective on any Ex-Dividend Date or effective date and a Holder that has converted its Notes would (i) receive shares of Common Stock based on an adjusted Conversion Rate and (ii) be a record
holder of the shares of Common Stock on the record date for the dividend, distribution or event giving rise to the adjustment pursuant to this Section 10.05, then, in lieu or receiving shares of Common Stock at such an adjusted Conversion Rate,
such Holder will participate in the related dividend, distribution or other event giving rise to such adjustment and shall receive a number of shares of Common Stock, if any, upon conversion based on an unadjusted Conversion Rate. 

(g) Adjustments Not Yet Effective. If a Holder converts a Note and, on any VWAP Trading Day during the Observation Period
corresponding to the Conversion Date for such Note: 
 (A) shares of Common Stock are deliverable as part of the Daily
Settlement Amount for such VWAP Trading Day; 
 (B) any event that requires an adjustment to the Conversion Rate pursuant to
Sections 10.05(a), (b), (c), (d) or (e) has occurred, but will not result in an adjustment to the Conversion Rate for such VWAP Trading Day for such Holder; and 
 (C) the shares of Common Stock (or the cash value thereof) that the Holder shall receive as part of the Daily Settlement Amount for such VWAP Trading Day will not be entitled to participate in the
distribution or transaction requiring the adjustment (because such shares were not held by such Holder on the record date corresponding to such distribution or transaction or otherwise), 

  
 61 

 
then the Company will adjust the number of shares of Common Stock (or the cash value thereof) deliverable to such Holder as part of the Daily Settlement Amount for such VWAP Trading Day in a
manner that appropriately reflects the relevant distribution or transaction requiring adjustment. 
 In addition, if a Holder
converts a Note and, on any VWAP Trading Day during the Observation Period corresponding to the Conversion Date for such Note, any event that requires an adjustment to the Conversion Rate pursuant to Sections 10.05(a), (b), (c), (d) or
(e) has occurred, but will not result in an adjustment to the Conversion Rate for such VWAP Trading Day for such Holder, then the Company will adjust the amount of cash deliverable to such Holder as part of the Daily Settlement Amount for such
VWAP Trading Day in a manner that appropriately reflects the relevant distribution or transaction requiring adjustment. 
 (h)
Other Adjustments. Whenever any provision of this Indenture requires the calculation of Last Reported Sale Prices, the Daily VWAPs, the Daily Settlement Amounts or any functions thereof over a span of multiple days (including an Observation
Period and if, applicable, the period for determining the Stock Price for purposes of a Make-Whole Fundamental Change), the Board of Directors will make appropriate adjustments to such prices, functions of such prices, the Conversion Rate, or the
amount of cash and the number of shares of Common Stock, if any (subject to the Company’s right under Section 10.03(b) to pay cash in lieu of all or a portion of any shares of Common Stock deliverable as part of a Daily Share Amount), due
upon conversion to account for any adjustment to the Conversion Rate that becomes effective, or any event requiring an adjustment to the Conversion Rate in which the Ex-Dividend Date, Expiration Date, or effective date, as the case may be, of the
event occurs, at any time prior to or during the period over which such average is to be calculated. 
 (i) Rights Plans.
If the Company adopts a stockholder rights plan and, on the Conversion Date for a Note, (i) such plan is in effect and (ii) the rights provided for in such plan have not yet separated from the Common Stock, each share of Common Stock
issued upon the conversion of Notes on such Conversion Date (x) shall be entitled to receive the number of rights, if any, associated with one share of Common Stock under such stockholder rights plan, and (y) shall, if issued in
certificated form, bear such legends, if any, as may be required under such stockholder rights plan; provided, however, that if prior to the Conversion Date for a Note, the rights separate from the Common Stock in accordance with the
provisions of the applicable stockholder rights plan, a converting Holder shall not be entitled to receive such rights upon conversion, and on the date of such separation, the Conversion Rate will be adjusted in accordance with
Section 10.05(c); provided, further, that such adjustment shall be subject to readjustment upon the expiration, termination of redemption of such separated rights. 

(j) Deferral of Adjustments. The Company need not adjust the Conversion Rate unless such adjustment would require an increase or
decrease in the Conversion Rate by at least 1%; provided that, if an adjustment to the Conversion Rate is not made because the adjustment does not change the Conversion Rate by at least 1% (after giving effect to any other adjustment not
previously made but carried forward pursuant to this sentence), then all of the adjustments that have not been made and that are not made will be carried forward and taken into account in the first future adjustment that would result in an
adjustment of at least 1% to the Conversion Rate; provided, further, that notwithstanding the foregoing, all such carried forward adjustments 

  
 62 

 
not previously made that would apply to a Note, regardless of whether the aggregate adjustment is less than 1%, shall be made (a) annually on the anniversary of the Issue Date and
(b) otherwise (1) on each VWAP Trading Day during the Observation Period corresponding to the Conversion Date for such Note or (2) prior to any Fundamental Change Purchase Date, unless such adjustment has already been made.

 (k) Simultaneous and Successive Adjustments. If this Article 10 requires adjustments to the Conversion Rate under
more than one of Sections 10.05(a), (b), (c) or (d), and the Ex-Dividend Dates (or, in the case of a Spin-off, the effective date of such a Spin-off) for the distributions giving rise to such adjustments shall occur on the same date, then such
adjustments shall be made, without duplication, by applying, first, the provisions of Section 10.05(a); second, the provisions of Section 10.05(c); third, the provisions of Section 10.05(d); and, fourth, the provisions of
Section 10.05(b). 
 After an adjustment to the Conversion Rate under this Article 10, any subsequent event requiring
an adjustment under this Article 10 shall cause an adjustment to the Conversion Rate as so adjusted, without duplication. 

(l) Voluntary Increases. From time to time, subject to the applicable listing standards of The NASDAQ Global Select Market, the
Company may (but is not required to) increase the Conversion Rate by any amount for a period of at least 20 Business Days if the Board of Directors determines that such increase is in the best interest of the Company. In addition, subject to the
applicable listing standards of The NASDAQ Global Select Market, the Company may (but is not required to) increase the Conversion Rate to avoid or diminish income tax to holders of the Common Stock or rights to purchase shares of Common Stock in
connection with a dividend or distribution of shares (or rights to acquire shares) or similar event. 
 (m) No Other
Adjustments. Except as specifically described in this Section 10.05, the Conversion Rate will not be subject to adjustment as a result of any issuance of shares of Common Stock, securities convertible into or exchangeable for shares of
Common Stock or rights, options or warrants to purchase shares of Common Stock or securities convertible into or exchangeable for shares of Common Stock. In addition, if the application of the formulas in Sections 10.05(a) through 10.05(e) would
result in a decrease in the Conversion Rate, no adjustment to the Conversion Rate will be made (other than as a result of a reverse share split or share combination); provided that, for the avoidance of doubt, if the Company adjusts the
Conversion Rate pursuant to Section 10.05(a), 10.05(b), 10.05(c), or 10.05(d) and the event that gave rise to the adjustment is not paid or made, delivered or issued or fails to become effective, as applicable, the Company may readjust the
Conversion Rate as expressly contemplated in the applicable section. Without limiting the foregoing, the Conversion Rate will not be adjusted upon the following events: 
 (i) upon the issuance of any shares of Common Stock pursuant to any present or future plan providing for the reinvestment of dividends or interest payable on securities of the Company and the investment
of additional optional amounts in shares of Common Stock under any plan; 

  
 63 

 (ii) upon the issuance of any shares of Common Stock or options, warrants or rights to
purchase those shares pursuant to any present or future employee, director or consultant benefit plan or program of, or assumed by, the Company or any of its Subsidiaries; 
 (iii) for ordinary course of business Capital Stock repurchases, including structured or derivative transactions, pursuant to a Capital Stock repurchase program approved by the Board of Directors (but,
for the avoidance of doubt, excluding transactions described in Section 10.05(e)); 
 (iv) 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 (iii) above, outstanding as of the Issue Date; 

(v) for a change in the par value of the Common Stock; or 
 (vi) accrued and unpaid interest (including any Additional Interest and Special Interest), if any. 
 (n) Notice of Adjustments. Whenever an event occurs that will require an adjustment to the Conversion Rate pursuant to this Section 10.05, the Company shall, at least 35 Scheduled Trading Days
prior to the anticipated effective date of such adjustment, deliver to the Holders a notice of such event describing the event requiring adjustment to the Conversion Rate pursuant to this Section 10.05, the effective date of the adjustment and
the adjusted Conversion Rate; provided, however, that if on such date, the Company does not have knowledge of such event or the adjusted Conversion Rate cannot be calculated, the Company shall deliver such notice as promptly as
practicable upon obtaining knowledge of such event or information sufficient to make such calculation, as the case may be, and in no event later than the effective date of such adjustment. On or before the day on which the Company is required to
deliver notice to the Holders pursuant to this Section 10.05(n), the Company shall file such notice, together with an Officer’s Certificate briefly describing the event triggering the adjustment to the Conversion Rate pursuant to this
Section 10.05 and the Company’s manner of computing the adjustment, with the Conversion Agent and the Trustee. To the Trustee and the Conversion Agent, receipt of such notice and of such Officer’s Certificate shall be conclusive
evidence that the adjustment is correct and in effect on the effective date stated in such notice. Neither the Trustee nor the Conversion Agent shall be under any duty or responsibility with respect to any such notice of adjustment except to exhibit
the same to any Holder desiring inspection thereof. 
 (o) NASDAQ Listing Standards. Notwithstanding the above, certain
listing standards of The NASDAQ Global Select Market may limit the amount by which the Company may increase the Conversion Rate pursuant to the events described in clauses (a) through (e) in this Section 10.05 and as described in
Section 10.07. These standards generally require the Company to obtain the approval of the Company’s holders of the Common Stock before entering into certain transactions that potentially result in the issuance of 20% or more of the Common
Stock outstanding at the time the Notes are initially issued unless the Company obtains holders of the Common Stock’ approval of issuances in excess of such limitations. In accordance with these listing standards, these restrictions will apply
at any time when the Notes are outstanding, regardless of whether the Company then has a class of securities listed on The NASDAQ Global 

  
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Select Market. Accordingly, in the event of an increase in the Conversion Rate above that which would result in the Notes, in the aggregate, becoming convertible into shares in excess of such
limitations, the Company will, at its option, either obtain stockholder approval of such issuances or pay cash in lieu of delivering any shares otherwise deliverable upon conversions in excess of such limitations based on the Daily VWAP on each
trading day of the relevant Observation Period in respect of which, in lieu of delivering the Common Shares, the Company delivers cash pursuant to this Section 10.05(o). 
 Section 10.06 Effect of Reclassification, Consolidation, Merger or Sale. 
 (a) Upon the occurrence of: 
 (i) any recapitalization, reclassification or change
of the Common Stock (other than changes resulting from a subdivision or combination for which an adjustment is provided pursuant to Section 10.05); 
 (ii) any consolidation, merger, combination, statutory or binding share exchange or similar transaction involving the Company; or 
 (iii) sale, conveyance, lease or other transfer or similar transaction to another Person of all or substantially all of the consolidated assets of the Company and the Company’s Subsidiaries, taken as
a whole, in each case, as a result of which the Common Stock will be converted into, or exchanged for, cash, securities or other property or assets (any such event, a “Merger Event,” and any such cash, securities, or other property
or assets, “Reference Property,” and the amount of Reference Property that a holder of one share of the Common Stock immediately prior to the effective date of such Merger Event would have been entitled to receive upon the
occurrence of such transaction, a “Unit of Reference Property,” provided that if a Merger 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 election by holders of the Common Stock), then each Unit of Reference Property will be deemed to be the Weighted Average Consideration), then: 

(A) on or prior to the effective date of such Merger Event, the Company or the successor or purchasing Person, as the case may be, shall
execute with the Trustee, without the consent of the Holders, a supplemental indenture (which shall comply with the TIA as in force at the date of execution of such supplemental indenture if such supplemental indenture is then required to so comply)
providing for the conversion and settlement of the Notes as set forth in this Indenture and for adjustments to the Conversion Rate that shall be as nearly equivalent as may be practicable to the adjustments provided for in this Article 10. If,
in the case of any Merger Event, the Reference Property includes shares of stock or other securities and assets of a corporation other than the successor or purchasing corporation, as the case may be, then such supplemental indenture shall also be
executed by such other corporation and shall contain such additional provisions to protect the interests of the Holders as the Board of Directors shall reasonably consider necessary by reason of the foregoing, including to the extent required by the
Board of Directors and practicable the provisions providing for the repurchase rights set forth in Article 3 herein; 

  
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 (B) subject to the provisions of Sections 10.01 and 10.07, at and after the effective date
of such Merger Event, the right of Holders to convert each $1,000 principal amount of Notes into cash and shares of Common Stock, if any (subject to the Company’s right to pay cash in lieu of all or any portion of the shares of Common Stock),
shall be changed into a right to convert each $1,000 principal amount of Notes into cash and Units of Reference Property, if any (subject to the Company’s right to pay cash in lieu of all or any portion of the Units of Reference Property) so
that on or after the effective date of such Merger Event, 
 (1) references in Section 10.01 to “the Last Reported
Sale Price of the Common Stock” shall be deemed to be references to “the Last Reported Sale Price of a Unit of Reference Property”; 
 (2) the Daily VWAP for a VWAP Trading Day (and any functions thereof) will be calculated based on the value of a Unit of Reference Property on such VWAP Trading Day; 

(3) instead of delivering shares of Common Stock to converting Holders as part of the Daily Share Amount for a VWAP Trading Day, the
Company shall deliver a number of Units of Reference Property equal to the number of shares of Common Stock (subject to the Company’s right to pay cash in lieu of all or a portion of the shares of Common Stock that the Company would otherwise
have been obligated to deliver to such converting Holder as part of the Daily Share Amount for such VWAP Trading Day); and 

(4) instead of delivering an amount of cash in lieu of fractional shares of Common Stock based on the Daily VWAP of the Common Stock,
the Company will deliver an amount of cash in lieu of fractional Units of Reference Property, with the amount of cash calculated in accordance with Section 10.03 (except using the Daily VWAP computed in accordance with clause (2) above);

 provided, however, that if the holders receive only cash in such Merger Event, then for all conversions that occur after the effective
date of such Merger Event (i) the consideration due upon conversion of each $1,000 principal amount of Notes shall be solely cash in an amount equal to the Conversion Rate in effect on the Conversion Date (as may be increased by any Additional
Shares), multiplied by the price paid per share of Common Stock in such Merger Event and (ii) settlement will occur on the third Business Day immediately following the Conversion Date. 

(C) For the purposes of this Section 10.06, if a Merger 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 election by holders of the Common Stock), the “Weighted Average Consideration” for such Merger Event means the weighted average,
per share of Common Stock, of the types and amounts of consideration received by the holders of the Common Stock that affirmatively make an election receive in such Merger Event. 

  
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 (D) If the Notes become convertible into Reference Property, the Company will notify the
Trustee and issue a press release containing the relevant information or publish the information on the Company’s website or through such other public medium as the Company may use at that time. 

(b) Notices. 
 (i) As soon as practicable after it determines the Weighted Average Consideration, the Company shall notify the Holders of the Weighted Average Consideration. 

(ii) As soon as practicable upon learning the anticipated or actual effective of a Merger Event, the Company shall deliver written notice
to the Holders stating: 
 (1) a brief description of such Merger Event; 

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

(3) the anticipated effective date for the Merger Event; 
 (4) that the Notes will be convertible into Reference Property in lieu of shares of Common Stock on and after the effective date for the Merger Event; and 

(5) the composition of a Unit of Reference Property for such Merger Event. 
 provided, however, that the Company will use commercially reasonable efforts to deliver such written notice at least 35 Scheduled Trading Days immediately prior to the effective date for
such Merger Event. 
 (c) If the Company executes a supplemental indenture pursuant to this Section 10.06, as promptly as
practicable, the Company shall file with the Trustee an Officer’s Certificate briefly describing such Merger Event, the composition of a Unit of Reference Property for such Merger Event, any adjustment to be made with respect thereto and that
all conditions precedent to such Merger Event under this Indenture have been complied with. Any failure to deliver such Officer’s Certificate shall not affect the legality or validity of such supplemental indenture. 

(d) The provisions of this Section 10.06 shall apply successively to successive Merger Events. 

(e) The Company shall not become a party to any such Merger Event unless the terms of such Merger Event are consistent with this
Section 10.06. 
 Section 10.07 Adjustment to Conversion Rate Upon Certain Transactions. 

(a) If the effective date of a Make-Whole Fundamental Change (the “Make-Whole Fundamental Change Effective Date”) occurs
and a Holder converts a Note “in connection” with such Make-Whole Fundamental Change, the Company will, in the circumstances described 

  
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in this Section 10.07, increase the Conversion Rate for such Note by the number of additional shares Common Stock (the “Additional Shares”) described in this
Section 10.07. For the purposes of this Section 10.07, any conversion during the period beginning on, and including, the Make-Whole Fundamental Change Effective Date and ending on, and including, the Close of Business on the earliest of
(i) the 35th Scheduled Trading Day immediately following the Make-Whole Fundamental Change Effective Date, (ii) if the Make-Whole Fundamental Change is also a Fundamental Change, the Fundamental Change Purchase Date corresponding to such
Fundamental Change, and (iii) the second Scheduled Trading Day immediately preceding the Maturity Date, will be deemed to be “in connection with” such Make-Whole Fundamental Change, regardless of any other condition to conversion.

 (b) The numbers of Additional Shares by which the Conversion Rate will be increased if a Holder converts a Note in connection
with a Make-Whole Fundamental Change will be determined by reference to the table below, based on the Make-Whole Fundamental Change Effective Date for such Make-Whole Fundamental Change and the Stock Price for such Make-Whole Fundamental Change.

 (c) The following table sets forth hypothetical Make-Whole Fundamental Change Effective Dates, Stock Prices and the number of
Additional Shares by which the Conversion Rate will be increased for a Holder that converts a Note in connection with a Make-Whole Fundamental Change having such Make-Whole Fundamental Change Effective Date and Stock Price. The Stock Prices set
forth in the first row of the tables (i.e., the column headers) will be adjusted on each date on which the Conversion Rate is adjusted pursuant to Section 10.05. The adjusted Stock Prices will equal the Stock Prices in effect immediately prior
to such adjustment, multiplied by a fraction, the numerator of which is the Conversion Rate in effect immediately prior to the adjustment giving rise to the share price adjustment, and the denominator of which is the Conversion Rate in effect
immediately after the adjustment. The numbers of Additional Shares set forth in the table below will be adjusted in the same manner and at the same time as the Conversion Rate. 

 

																																																					
	 	 	Stock Price	 
	 Effective Date
	 	$40.03	 	 	$45.00	 	 	$50.00	 	 	$54.04	 	 	$60.00	 	 	$65.00	 	 	$70.00	 	 	$75.00	 	 	$80.06	 	 	$90.00	 	 	$100.00	 	 	$125.00	 	 	$150.00	 
	 June 17, 2013
	 	 	6.4766	  	 	 	5.1535	  	 	 	3.9475	  	 	 	3.1989	  	 	 	2.3606	  	 	 	1.8360	  	 	 	1.4311	  	 	 	1.1167	  	 	 	0.8694	  	 	 	0.5339	  	 	 	0.3332	  	 	 	0.1140	  	 	 	0.0240	  
	 July 1, 2014
	 	 	6.4766	  	 	 	4.9476	  	 	 	3.7239	  	 	 	2.9723	  	 	 	2.1412	  	 	 	1.6299	  	 	 	1.2416	  	 	 	0.9460	  	 	 	0.7184	  	 	 	0.4209	  	 	 	0.2547	  	 	 	0.0832	  	 	 	0.0137	  
	 July 1, 2015
	 	 	6.4766	  	 	 	4.7253	  	 	 	3.4731	  	 	 	2.7145	  	 	 	1.8900	  	 	 	1.3941	  	 	 	1.0264	  	 	 	0.7539	  	 	 	0.5509	  	 	 	0.3011	  	 	 	0.1798	  	 	 	0.0547	  	 	 	0.0046	  
	 July 1, 2016
	 	 	6.4766	  	 	 	4.4748	  	 	 	3.1685	  	 	 	2.3935	  	 	 	1.5752	  	 	 	1.1019	  	 	 	0.7655	  	 	 	0.5285	  	 	 	0.3623	  	 	 	0.1813	  	 	 	0.1118	  	 	 	0.0285	  	 	 	0.0000	  
	 July 1, 2017
	 	 	6.4766	  	 	 	4.1434	  	 	 	2.7203	  	 	 	1.9098	  	 	 	1.1051	  	 	 	0.6805	  	 	 	0.4092	  	 	 	0.2426	  	 	 	0.1467	  	 	 	0.0814	  	 	 	0.0494	  	 	 	0.0078	  	 	 	0.0000	  
	 July 1, 2018
	 	 	6.4766	  	 	 	3.7176	  	 	 	1.4954	  	 	 	0.0000	  	 	 	0.0000	  	 	 	0.0000	  	 	 	0.0000	  	 	 	0.0000	  	 	 	0.0000	  	 	 	0.0000	  	 	 	0.0000	  	 	 	0.0000	  	 	 	0.0000	  

 If the exact Stock Price and Make-Whole Fundamental Change Effective Date for a Make-Whole Fundamental
Change are not set forth in the table above, then: 
 (A) if the Stock Price is between two prices listed in the table or the
Make-Whole Fundamental Change Effective Date is between two dates listed in the table, then the number of Additional Shares by which the Conversion Rate will be increased for a Holder that converts its Notes in connection with such Make-Whole
Fundamental Change will be determined by a straight-line interpolation between the numbers of Additional Shares set forth for the higher and lower listed prices in the table and the two Make-Whole Fundamental Change Effective Dates in the table,
based on a 365-day year; 

  
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 (B) if the Stock Price is greater than $150.00 per share, subject to adjustment in the same
manner and at the same time as the Stock Prices listed in the table, the Conversion Rate will not be adjusted; and 
 (C) if
the Stock Price is less than $40.03 per share, subject to adjustment in the same manner and at the same time as the Stock Prices listed in the table, the Conversion Rate will not be adjusted. 

Notwithstanding the foregoing, in no event will the Conversion Rate exceed 24.9812 shares, subject to adjustment in the same manner and
at the same time as the Conversion Rate under Section 10.05. 
 (d) If a Holder converts a Note in connection with a
Make-Whole Fundamental Change, the Company will settle such conversion of such Note in accordance with Section 10.03; provided, however, that notwithstanding anything to the contrary in Section 10.03, if a Holder converts a
Note in connection with a Make-Whole Fundamental Change described in clause (2) of the definition Fundamental Change in which the holders of the Common Stock receive only cash in consideration for their shares of Common Stock, the Company will
settle such conversion by delivering to such Holder, on the third Business Day immediately following the Conversion Date for such Note, an amount of cash, for each $1,000 principal amount of such Note converted, equal to the product of (i) the
Conversion Rate on the Conversion Date for such Note (including any Additional Shares added to such Conversion Rate pursuant to this Section 10.07) and (ii) the Stock Price. 

(e) The Company will notify the Holders of the Make-Whole Fundamental Change Effective Date and will issue a press release announcing
such effective date or publish the information on the Company’s website or through such other public medium as the Company may use at that time no later than five Business Days after such effective date. 

Section 10.08 Miscellaneous. 
 (a) Company Determination Final. Any determination and/or calculation that the Company or the Board of Directors must make pursuant to this Article 10 is conclusive, absent manifest error.

 (b) Trustee’s Disclaimer. The Trustee has no duty to determine when an adjustment under this Article 10
should be made, how it should be made or what it should be. The Trustee shall not be accountable for and makes no representation as to the validity or value of any securities or assets issued upon conversion of Notes. The Trustee shall not be
responsible for the Company’s failure to comply with this Article 10. Each Conversion Agent shall have the same protection under this Section 10.08 as the Trustee. 

ARTICLE 11. 

PAYMENT OF INTEREST 
 Section 11.01 Payment of Interest. The Company shall pay interest on the Notes at a rate of 1.50% per annum, payable semi-annually in arrears on January 1 and July 1 of
each year (each, an “Interest Payment Date”) or, if any such day is not a Business Day, the immediately 

  
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following Business Day, commencing January 1, 2014. Interest on a Note shall be paid to the Holder of such Note at the Close of Business on December 15 or June 15
(each, a “Record Date”), as the case may be, immediately preceding the related Interest Payment Date, and shall be computed on the basis of a 360-day year comprised of twelve 30-day months. In the event
of the maturity, conversion, or repurchase of a Note by the Company at the option of the Holder, interest shall cease to accrue on such Note. If the Conversion Date for a Note occurs after a Record Date but on or before the
corresponding Interest Payment Date, the interest payable on such Interest Payment Date will be paid to the Holder of such Note on such Record Date notwithstanding the conversion of such Note. 

Section 11.02 Defaulted Interest. Any installment of interest that is payable, but is not punctually paid or duly
provided for on any Interest Payment Date (“Defaulted Interest”), shall forthwith cease to be payable to the Holders in whose names the Notes were registered on the Record Date applicable to such installment of interest.
Defaulted Interest (including any interest on such Defaulted Interest) may be paid by the Company, at its election, as provided in Sections 11.02(a) or 11.02(b). 
 (a) The Company may elect to make payment of any Defaulted Interest (including any interest on such Defaulted Interest) to the Holders in whose names the Notes are registered at the Close of Business on a
special record date for the payment of such Defaulted Interest (a “Special Record Date”), which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to
be paid and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements
satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Holders entitled to such Defaulted Interest as provided in this Section 11.02(a).
Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest, which shall be not more than 15 calendar days and not less than ten calendar days prior to the date of the proposed payment and not less than ten
calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed
payment of such Defaulted Interest and the Special Record Date therefor to be sent by first-class mail, postage prepaid, to each Holder at such Holder’s address as it appears in the registration books of the Registrar, not less than ten
calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Holders in whose names the
Notes are registered at the Close of Business on such Special Record Date and shall no longer be payable pursuant to Section 11.02(b). 
 (b) Alternatively, the Company may make payment of any Defaulted Interest (including any interest on such Defaulted Interest) in any other lawful manner not inconsistent with the requirements of any
securities exchange on which the Notes may be listed, and upon such notice as may be required by such exchange if, after notice given by the Company to the Trustee of the proposed payment pursuant to this Section 11.02(b), such manner of
payment shall be deemed practicable by the Trustee. 

  
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 Section 11.03 Interest Rights Preserved. Subject to the foregoing provisions of
this Article 11 and, to the extent applicable, Sections 2.06 and 2.07, each Note delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note shall carry the rights to
interest accrued and unpaid, and to accrue, which were carried by such other Note. 
 ARTICLE 12.

 MISCELLANEOUS 
 Section 12.01 Trust Indenture Act Controls. If any provision of this Indenture limits, qualifies, or conflicts with another provision that is required to be included in this
Indenture by the TIA, the required provision shall control. 
 Section 12.02 Notices. Any request,
demand, authorization, notice, waiver, consent or communication shall be in writing and delivered in Person or mailed by first-class mail, postage prepaid, addressed as follows or transmitted by facsimile
transmission or other similar means of unsecured electronic methods to the following: 
 if to the Company: 

Cornerstone OnDemand, Inc. 
 1601 Cloverfield Blvd. 
 Suite 620 South 

Santa Monica, CA 90404 
 (310) 752-0200 
 Attn: General Counsel 

if to the Trustee, Registrar, Paying Agent or Conversion Agent: 
 U.S. Bank National Association 
 633 West 5th Street, 24th Floor 
 Los Angeles, California 90071 
 Facsimile: (213) 615-6197 

Attn: Paula M. Oswald, Corporate Trust Services 
 (Cornerstone OnDemand, Inc. 1.50% Convertible Senior Notes due 2018) 
 The Company
or the Trustee, by notice given to the other in the manner provided above, may designate additional or different addresses for subsequent notices or communications. 
 Any notice or communication given to a Holder shall be mailed to the Holder, by first-class mail, postage prepaid, at the Holder’s address as it appears on the registration books of the Registrar and
shall be deemed given on the date of such mailing. 
 Failure to mail a notice or communication to a Holder or any defect in it
shall not affect its sufficiency with respect to other Holders. If a notice or communication is mailed in the manner provided above, it is duly given, whether or not received by the addressee. 

  
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 If the Company mails a notice or communication to the Holders, it shall, at the same time,
mail a copy to the Trustee and each of the Registrar, Paying Agent and Conversion Agent. 
 If the Company is required under
this Indenture to give a notice to the Holders, in lieu of delivering such notice to the Holders, the Company may deliver such notice to the Trustee and cause the Trustee to have delivered such notice to the Holders on or prior to the date on which
the Company would otherwise have been required to deliver such notice to the Holders. In such a case, the Company shall also cause the Trustee to mail a copy of the notice to each of the Registrar, Paying Agent and Conversion Agent at the same time
it mails the notice to the Holders. 
 Section 12.03 Communication by Holders with Other Holders. Holders may
communicate pursuant to TIA Section 312(b) with other Holders with respect to their rights under this Indenture or the 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 12.04 Certificate and Opinion as to Conditions
Precedent. Upon any request or application by the Company to the Trustee to take any action under this Indenture, the Company shall furnish to the Trustee: 
 (a) an Officer’s Certificate stating that, in the judgment of the signers, all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied with;
and 
 (b) an Opinion of Counsel, which may contain customary assumptions and qualifications, stating that, in the judgment of
such counsel, all such conditions precedent relating to the proposed action (to the extent of legal conclusions) have been complied with. 
 Section 12.05 Statements Required in Certificate or Opinion. Each Officer’s Certificate or Opinion of Counsel with respect to compliance with a covenant or condition (except for such
Officer’s Certificate required to be delivered pursuant to Section 4.03) provided for in this Indenture shall include: 
 (a) a statement that each Person making such Officer’s Certificate or Opinion of Counsel has read such covenant or condition; 
 (b) a brief statement as to the nature and scope of the examination or investigation upon which the statements or judgments contained in such Officer’s Certificate or Opinion of Counsel are based;

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

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

  
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 Section 12.06 Separability Clause. In case any provision in this 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 12.07 Rules by Trustee. The Trustee may make reasonable rules for action by or a meeting of Holders. 

Section 12.08 Governing Law. THE INDENTURE AND EACH NOTE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE
WITH, THE LAWS OF THE STATE OF NEW YORK BUT WITHOUT GIVING EFFECT TO ANY APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY. 

Section 12.09 No Recourse Against Others. A director, officer, employee or stockholder, as such,
of the Company shall not have any liability for any obligations of the Company under the Notes or this Indenture or for any claim based on, in respect of or by reason of such obligations or their creation. By accepting a Note, each
Holder shall waive and release all such liability. The waiver and release shall be part of the consideration for the issue of the Notes. 
 Section 12.10 Calculations. The Company will be responsible for making all calculations called for under the Notes. These calculations include, but are not limited to, determinations of the
Last Reported Sale Prices of the Common Stock, the Daily VWAPs, the Daily Conversion Values, the Daily Settlement Amounts, accrued interest payable on the Notes and the Conversion Rate in effect on any Conversion Date. 

The Company will make these calculations in good faith and, absent manifest error, the calculations will be final and binding on Holders.
The Company will provide to each of the Trustee and the Conversion Agent a schedule of its calculations, and each of the Trustee and Conversion Agent is entitled to rely upon the accuracy of such calculations without independent verification. The
Trustee will forward the Company’s calculations to any Holder upon the request of such Holder. 
 All calculations shall be
made to the nearest cent or to the nearest 1/10,000th of a share, as the case may be. 
 Section 12.11 Successors.
All agreements of the Company, the Trustee, the Registrar, the Paying Agent and the Conversion Agent in this Indenture and the Notes shall bind their respective successors. 

Section 12.12 Multiple Originals. The parties may sign any number of copies of this Indenture. Each signed copy shall be an
original, but all of them together represent the same agreement. One signed copy is enough to prove this Indenture. 

Section 12.13 Table of Contents; Headings. The table of contents and headings of the Articles and Sections of this Indenture
have been inserted for convenience of reference only, are not intended to be considered a part hereof and shall not modify or restrict any of the terms or provisions hereof. 

  
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 Section 12.14 Force Majeure. The Trustee, Registrar, Paying
Agent, and Conversion Agent shall not incur any liability for not performing any act or fulfilling any duty, obligation or responsibility hereunder by reason of any occurrence beyond the control of such person (including but not
limited to any act or provision of any present or future law or regulation or governmental authority, any act of God or war, civil unrest, local or national disturbance or disaster, any act of terrorism, or the
unavailability of the Federal Reserve Bank wire or facsimile or other wire or communication facility). 
 Section 12.15
Submission to Jurisdiction. The Company (i) agrees that any suit, action or proceeding against it arising out of or relating to this Indenture or the Notes, as the case may be, may be instituted in any U.S. federal
court with applicable subject matter jurisdiction sitting in The City of New York; (ii) waives, to the fullest extent permitted by applicable law, any objection which it may now or hereafter have to the laying of venue of any such
suit, action or proceeding, and any claim that any suit, action or proceeding in such a court has been brought in an inconvenient forum; and (iii) submits to the non-exclusive jurisdiction of such courts in any suit, action or proceeding.

 Section 12.16 Legal Holidays. In any case where any Interest Payment Date, Fundamental Change Purchase
Date, Conversion Date or Maturity Date is not a Business Day, then any action to be taken on such date need not be taken on such date, but may be taken on the immediately following Business Day with the same force and effect as
if taken on such date, and no interest shall accrue for the period from and after such date. 
 Section 12.17
No Security Interest Created. Except as provided in Section 7.07, nothing in this Indenture or in the Notes, expressed or implied, shall be construed to constitute a security interest under the Uniform
Commercial Code or similar legislation, as now or hereafter enacted and in effect, in any jurisdiction. 
 Section 12.18
Benefits of Indenture. Nothing in this Indenture or in the Notes, expressed or implied, shall give to any Person, other than the parties hereto, any Paying Agent, any Conversion Agent, any
authenticating agent, any Registrar and their successors hereunder or the Holders, any benefit or any legal or equitable right, remedy or claim under this Indenture. 

  
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 IN WITNESS WHEREOF, Cornerstone OnDemand, Inc. has caused this Indenture to be duly executed
as a deed the day and year first before written. 
  

			
	Cornerstone OnDemand, Inc.
		
	By:	 	 /s/ Perry Wallack

	Name:	 	Perry Wallack
	Title:	 	Chief Financial Officer

 Cornerstone OnDemand, Inc. 1.50% Convertible Senior Notes – Indenture Signature Page 

 IN WITNESS WHEREOF, the undersigned, being duly authorized, has executed this Indenture as
of the date first above written. 
  

			
	U.S. BANK NATIONAL ASSOCIATION, as Trustee, Paying Agent, Registrar and Conversion Agent
		
	By:	 	 /s/ Paula Oswald

	Name:	 	Paula Oswald
	Title:	 	Vice President

 Cornerstone OnDemand, Inc. 1.50% Convertible Senior Notes – Indenture Signature Page

 EXHIBIT A 

FORM OF NOTE 
 [FORM OF FACE OF NOTE] 
 [Include the following legend for Global Notes
only (the “Global Securities Legend”):] 
 [THIS IS A GLOBAL NOTE WITHIN THE MEANING
OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF THE DEPOSITARY OR A NOMINEE OF THE DEPOSITARY, WHICH MAY BE TREATED BY THE COMPANY, THE TRUSTEE AND ANY AGENT THEREOF AS OWNER AND HOLDER OF THIS CONVERTIBLE NOTE FOR ALL
PURPOSES. 
 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.] 
 [Include the following legend on all Notes that are
Restricted Notes (the “Restricted Securities Legend”):] 
 [THE SALE OF THIS NOTE HAS NOT
BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, PRIOR TO THE RESALE RESTRICTION TERMINATION DATE (AS DEFINED BELOW), THIS NOTE AND ANY COMMON STOCK ISSUABLE UPON CONVERSION
OF THIS NOTE (AND ANY BENEFICIAL INTEREST HEREIN OR THEREIN) MAY NOT BE OFFERED, RESOLD OR OTHERWISE TRANSFERRED, EXCEPT: 
  

	 	(A)	TO THE COMPANY OR ANY SUBSIDIARY THEREOF; 

  

	 	(B)	PURSUANT TO A REGISTRATION STATEMENT THAT HAS BECOME EFFECTIVE UNDER THE SECURITIES ACT; 

  
 1 

	 	(C)	TO A PERSON THAT YOU REASONABLY BELIEVE TO BE A QUALIFIED INSTITUTIONAL BUYER IN COMPLIANCE WITH RULE 144A UNDER THE SECURITIES ACT; OR 

 

	 	(D)	UNDER ANY OTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT (INCLUDING, IF AVAILABLE, THE EXEMPTION PROVIDED BY RULE 144 UNDER THE
SECURITIES ACT). 

 THE “RESALE RESTRICTION TERMINATION DATE” MEANS THE DATE: (A) THAT IS AT LEAST
ONE YEAR AFTER THE LAST DATE OF ORIGINAL ISSUANCE OF THE NOTES; AND (B) ON WHICH THE COMPANY HAS INSTRUCTED THE TRUSTEE THAT THIS LEGEND WILL NO LONGER APPLY IN ACCORDANCE WITH THE PROCEDURES DESCRIBED IN THE INDENTURE. 

PRIOR TO ANY TRANSFER PURSUANT TO THE FOREGOING CLAUSE (D), THE COMPANY AND THE TRUSTEE RESERVE THE RIGHT TO REQUIRE THE DELIVERY OF SUCH
CERTIFICATIONS, LEGAL OPINIONS OR OTHER INFORMATION AS THEY MAY REASONABLY REQUIRE AND MAY RELY UPON TO CONFIRM THAT SUCH TRANSFER IS BEING MADE PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE
SECURITIES ACT. 
 NO AFFILIATE OF THE COMPANY MAY PURCHASE OR OTHERWISE ACQUIRE NOTES.] 

  
 2 

 No.:
[                    ] 
 CUSIP: 21925YAA1

 ISIN: US21925YAA10 

Principal Amount $ [        ] 

as revised by the Schedule of Increases 
 and Decreases in the Global Note attached hereto 
 Cornerstone OnDemand, Inc.

 1.50% Convertible Senior Notes due 2018 
 Cornerstone OnDemand, Inc., a Delaware corporation, promises to pay to [            ] [include “Cede & Co.” for
Global Note] or registered assigns, the principal amount of $ [        ] on July 1, 2018 (the “Maturity Date”). 

Interest Payment Dates: January 1 and July 1. 
 Record Dates: December 15 and June 15. 
 Additional provisions of this
Note are set forth on the other side of this Note. 

  
 3 

 
			
	Cornerstone OnDemand, Inc.
		
	By:	 	  

	Name:	 	
	Title:	 	
	Dated:	 	

 Cornerstone OnDemand, Inc. 1.50% Convertible Senior Notes – Note Signature Page 

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

U.S. BANK NATIONAL ASSOCIATION, as Trustee, certifies that this is one of the Notes referred to in the within-mentioned Indenture.

  

			
	By:	 	  

	Name:	 	
	Title:	 	Authorized Signatory
	Dated:	 	

 Cornerstone OnDemand, Inc. 1.50% Convertible Senior Notes – Note Signature Page 

 [FORM OF REVERSE OF NOTE] 

CORNERSTONE ONDEMAND, INC. 
 1.50% Convertible Senior Notes due 2018 
 This Note is one of a duly authorized
issue of Notes of the Company, designated as its 1.50% Convertible Senior Notes due 2018 (the “Notes”), all issued or to be issued under and pursuant to an Indenture dated as of June 17, 2013 (the “Indenture”),
between the Company and U.S. Bank National Association (the “Trustee”), to which Indenture and all indentures supplemental thereto reference is hereby made for a description of the rights, limitations of rights, obligations, duties
and immunities thereunder of the Trustee, the Company and the Holders. 
  

	1.	Interest. 

 This Note shall bear
cash interest at the rate of 1.50% per annum. Interest on this Note shall accrue from the Issue Date or from the most recent date to which interest has been paid or provided for. Interest shall be payable semiannually in arrears on
January 1 and July 1 of each year, beginning on January 1, 2014, to the Holder of record of this Note as of the Close of Business on the December 15 or June 15 immediately preceding each Interest Payment Date. Each payment
of cash interest on this Note shall include interest accrued for the period commencing on and including the immediately preceding Interest Payment Date (or, if none, the Issue Date) through the day before the applicable Interest Payment Date.
Interest shall be calculated using a 360-day year composed of twelve 30-day months. Interest shall cease to accrue on this Note upon its Maturity Date, conversion or repurchase by the Company at the option of the Holder upon the occurrence of a
Fundamental Change. 
 Subject to certain exceptions, interest on Notes converted after a Record Date, but on or prior to the
corresponding Interest Payment Date, will be paid to the Holder of the Notes on the Record Date, but upon conversion, the Holder must pay the Company the interest which has accrued and will be paid by the Company on such Interest Payment Date. No
such payment need be made (1) if the Company has specified a Fundamental Change Purchase Date that is after a Record Date and on or prior to the next Interest Payment Date; (2) to the extent of overdue interest, if any overdue interest
exists on the Conversion Date with respect to such Notes; or (3) if such Notes are surrendered for conversion after the Close of Business on the Record Date immediately preceding the Maturity Date. For the avoidance of doubt, all Holders on the
Record Date immediately preceding the Maturity Date will receive and retain the full interest payment due on the Maturity Date regardless of whether their Notes are converted following such Record Date. 

 

	2.	Method of Payment. 

 The Company
shall promptly make all payments in respect of the Notes on the dates and in the manner provided herein and in the Indenture. Holders must surrender Notes to a Paying Agent to collect principal payments. The Company will pay principal, accrued and
unpaid interest (including Additional Interest and Special Interest), if any, or payment of the Fundamental Change Purchase Price in money of the United States that at the time of payment is 

  
 6 

 
legal tender for payment of public and private debts. The Company will make all payments in respect of a Global Note registered in the name of the Depositary or its nominee to the Depositary or
its nominee, as the case may be, by wire transfer of immediately available funds to the account specified by such Holder. If an Interest Payment Date is a date other than a Business Day, payment may be made at that place on the next succeeding day
that is a Business Day and no interest shall accrue for the intervening period. Any payment required to be made on any day that is not a Business Day shall be made on the next succeeding Business Day and no interest or other amount will be paid as a
result of any such postponement. 
  

	3.	Paying Agent, Conversion Agent and Registrar. 

 Initially, U.S. Bank National Association, will act as the Trustee, Paying Agent, Conversion Agent and Registrar. The Company may appoint and change any Paying Agent, Conversion Agent or Registrar without
notice, other than notice to the Trustee; provided, however, that the Company will maintain at least one Paying Agent in the United States of America, which shall initially be an office or agency of the Trustee. The Company or any of
its Subsidiaries or any of their affiliates may act as Paying Agent, Conversion Agent or Registrar. 
  

	4.	Indenture. 

 The terms of the
Notes include those stated in the Indenture and those made part of the Indenture by reference to the TIA. Capitalized terms used herein and not defined herein have the meanings ascribed thereto in the Indenture. The Notes are subject to all such
terms, and Holders are referred to the Indenture and the TIA for a statement of those terms. 
  

	5.	Purchase By the Company at the Option of the Holder upon a Fundamental Change. 

 (a) At the option of the Holder, and subject to the terms and conditions of the Indenture, upon the occurrence of a Fundamental Change, each Holder will have the right, at its option, to require the
Company to purchase for cash all of its Notes, or any portion of its Notes in principal amount equal to $1,000 or an integral multiple of thereof, at a Fundamental Change Purchase Price equal to 100% of the principal amount of Notes to be purchased
plus accrued and unpaid interest (including Additional Interest and Special Interest), if any, to but excluding, the Fundamental Change Purchase Date. To exercise its purchase right, a Holder must deliver, on or before the Close of Business on the
Business Day immediately preceding the Fundamental Change Purchase Date, written notice to the Trustee of such Holder’s exercise of its purchase right, together with the Notes with respect to which the right is being exercised. Subject to such
Holder’s satisfaction of certain requirements in the Indenture, the Company is required to purchase the Notes on a date specified by the Company that is not less than 20 Business Days and no more than 35 Business Days after the date on which
the Company delivers notice of the Fundamental Change, which date shall be no more than 20 Business Days after the effective date of the Fundamental Change. 
 (b) Holders have the right to withdraw a Fundamental Change Purchase Notice delivered pursuant to Paragraph 5(a) above by delivering to the Paying Agent, in accordance with the provisions of the
Indenture, a written notice of withdrawal at any time prior to the Close of Business on the Business Day immediately preceding the Fundamental Change Purchase 

  
 7 

 
Date. If cash sufficient to pay the Fundamental Change Purchase Price of all Notes or portions thereof to be repurchased as of the Fundamental Change Purchase Date is deposited with the Paying
Agent on the Fundamental Change Purchase Date, interest (including Additional Interest and Special Interest), if any, will cease to accrue on such Notes (or portions thereof) immediately after such Fundamental Change Purchase Date, and the Holder
thereof shall have no other rights as such other than the right to receive the Fundamental Change Purchase Price upon surrender of such Note. 
  

	6.	Conversion. 

 (a) Subject to and
upon compliance with the provisions of the Indenture (including, without limitation, the conditions to conversion of this Note set forth in Section 10.01 of the Indenture), a Holder hereof has the right, at such Holder’s option, to convert
the principal amount hereof or any portion of such principal amount that is $1,000 or an integral multiple thereof, subject to Sections 10.01 and 10.03 of the Indenture, into cash and shares of Common Stock, if any (subject to the Company’s
right to deliver cash in lieu of all or a portion of such shares of Common Stock), at the Conversion Rate in effect on the Conversion Date. The Conversion Rate shall initially equal 18.5046 shares of Common Stock per $1,000 and is subject to
adjustment as described in the Indenture. 
 (b) To surrender a Note for conversion, a Holder must (1) complete and
manually sign the irrevocable conversion notice below or as provided by the Conversion Agent (or complete and manually sign a facsimile of such notice) and deliver such notice to the Conversion Agent; (2) surrender the Note to the Conversion
Agent (if the Note is a Certificated Note); (3) if required, furnish appropriate endorsements and transfer documents; (4) if required pay all transfer or similar taxes; and (5) if required, pay funds under Sections 10.02(e) and
10.02(f) of the Indenture. If a Holder holds a beneficial interest in a Global Note, such Holder must also comply with any procedure of DTC applicable to the conversion of a beneficial interest in such Global Note. 

 

	7.	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 in respect of which a Fundamental Change Purchase Notice has been given and not withdrawn (except, in the case of a Note to be repurchased in part, the portion of the Note not to be repurchased). 

 

	8.	Amendment, Supplement and Waiver. 

Subject to certain exceptions, the Indenture or the Notes may be amended or supplemented with the written consent of the Holders of at
least a majority in aggregate principal amount of the Notes at the time outstanding by the Company and the Trustee. The Company and the Trustee may also amend or supplement the Indenture or the Notes without the consent of any

  
 8 

 
Holder to: (A) cure any ambiguity, omission, defect or inconsistency in the Indenture or in the Notes in a manner that does not adversely affect the Holders; (B) provide for the
assumption by a successor corporation of the Company’s obligations under the Indenture and the Notes as described in Article 5 of the Indenture; (C) make provisions with respect to the conversion rights of the Holders in accordance
with Section 10.06 of the Indenture; (D) appoint a successor Trustee with respect to the Notes; (E) add guarantees with respect to the Notes; (F) secure the Notes; (G) add to the Company’s covenants for the benefit of
the Holders or surrender any right or power conferred upon the Company; (H) make any change that does not adversely affect the rights of any Holder; (I) comply with any requirements of the SEC in connection with the qualification of the
Indenture under the TIA; or (J) conform the terms of the Indenture to the “Description of Notes” section of the Offering Memorandum. 
  

	9.	Defaults and Remedies. 

 Each of
the following is an Event of Default under the Indenture: (A) the Company defaults in the payment of interest (including Additional Interest and Special Interest), if any, on any Note when the same becomes due and payable and such default
continues for a period of 30 days; (B) the Company defaults in the payment of principal of any Note when the same becomes due and payable at the Maturity Date, upon declaration of acceleration, upon any Fundamental Change Purchase Date or
otherwise; (C) the failure by the Company to deliver the consideration due upon the conversion of any Notes and such failure continues for a period of five Business Days; (D) the failure by the Company to deliver a Fundamental Change
Notice as required by Section 3.03 of the Indenture; (E) the failure by the Company to comply with its obligations under Article 5 of the Indenture; (F) failure by the Company in the performance of or the breach of any other
covenant or agreement of the Company in the Notes or the Indenture with respect to the Notes (other than a covenant or agreement in respect of which a default or breach is specifically addressed in Sections 6.01(a)(i) through 6.01(a)(v) of the
Indenture) and such default or breach continues for a period of 60 consecutive days after written notice of such default is delivered to the Company by the Trustee or to the Company and the Trustee by the Holders of 25% or more in aggregate
principal amount of the Notes then outstanding; (G) a default under any mortgage, indenture or instrument under which there may be issued, or by which there may be secured or evidenced, any indebtedness of the Company or any Significant
Subsidiary for money borrowed, whether such indebtedness exists as of the Issue Date or is later created, if that default: (i) constitutes the failure to pay when due (whether at express maturity, upon acceleration as a result of an event of
default or otherwise after giving effect to any applicable grace period) indebtedness in an aggregate principal amount in excess of $35,000,000 (or its foreign currency equivalent), and (ii) such default continues for a period of 30 days after
written notice thereof is delivered to the Company by the Trustee or to the Company and the Trustee by the Holders of 25% or more of the aggregate principal amount of the Notes then outstanding without such Default having been cured or waived, such
acceleration having been rescinded or annulled (if applicable) and such indebtedness not having been paid or discharged; (H) the Company or any of its Significant Subsidiaries pursuant to or within the meaning of any Bankruptcy Law:
(i) commences a voluntary case; (ii) consents to the entry of an order for relief against it in an involuntary case; (iii) consents to the appointment of a Custodian of it or for any substantial part of its property; (iv) makes a
general assignment for the benefit of its creditors; or (v) takes any comparable action under any foreign laws relating to insolvency; or (I) a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that:
(i) is for relief 

  
 9 

 
against the Company or any of its Significant Subsidiaries in an involuntary case; (ii) appoints a Custodian of the Company or any of its Significant Subsidiaries or for any substantial part
of its or any of its Significant Subsidiaries’ property; (iii) orders the winding up or liquidation of the Company or any of its Significant Subsidiaries; or (iv) grants any similar relief under any foreign laws; and, in each such
case, the order or decree remains unstayed and in effect for 60 days. 
 The Indenture provides that if an Event of Default
(other than an Event of Default specified in Sections 6.01(a)(viii) or 6.01(a)(ix) of the Indenture with respect to the Company) occurs and is continuing, the Trustee by notice to the Company or the Holders of at least 25% in aggregate principal
amount of the Notes then outstanding by notice to the Company and the Trustee, may declare the principal amount plus accrued and unpaid interest (including Additional Interest and Special Interest), if any, on the Notes to be due and payable
immediately. If an Event of Default specified in Sections 6.01(a)(viii) or 6.01(a)(ix) of the Indenture with respect to the Company (and not solely with respect to one or more of its Significant Subsidiaries), occurs and is continuing, the principal
amount plus accrued and unpaid interest, if any, on the Notes shall, automatically and without any action by the Trustee or any Holder, 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 the Company, and without notice to any other Holder, may rescind any declaration of acceleration if the rescission
would not conflict with any judgment or decree and if all existing Events of Default have been cured or waived other than nonpayment of the principal amount or accrued but unpaid interest (including Additional Interest and Special Interest), if any,
that have become due solely as a result of acceleration. No such rescission shall affect any subsequent Default or impair any right consequent thereto. 
  

	10.	Persons Deemed Owners. 

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

	11.	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 unclaimed property
law. After return to the Company, Holders entitled to the money or securities must look to the Company for payment as general creditors, unless an applicable abandoned property law designates another Person. 

 

	12.	Trustee Dealings with the Company. 

 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 the Trustee. 

  
 10 

	13.	Calculations in Respect of Notes. 

The Company will be responsible for making all calculations called for under the Notes. These calculations include, but are not limited
to, determinations of the Last Reported Sale Prices of Common Stock, Daily VWAPs, Daily Conversion Values, Daily Settlement Amounts, any accrued interest payable on the Notes and the Conversion Rate in effect on any Conversion Date. 

The Company will make these calculations in good faith and, absent manifest error, the calculations will be final and binding on Holders
of the Notes. The Company will provide to each of the Trustee and Conversion Agent schedule of its calculations, and each of the Trustee and Conversion Agent is entitled to rely upon the accuracy of such calculations without independent
verification. The Trustee will forward the Company’s calculations to any Holder of the Notes upon the request of such Holder. 
  

	14.	No Recourse Against Others. 

 A
director, officer, employee or stockholder, 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 Holder waives and releases all such liability. The waiver and release are part of the consideration for the issue of the Notes. 
  

	15.	Authentication. 

 This Note 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. 
  

	16.	Abbreviations. 

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

	17.	GOVERNING LAW. 

 THE INDENTURE
AND THE NOTES SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK BUT WITHOUT GIVING EFFECT TO ANY APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION
WOULD BE REQUIRED THEREBY. 
  

	18.	CUSIP Numbers. 

 Pursuant to a
recommendation promulgated by the Committee on Uniform Note Identification Procedures, the Company has caused CUSIP numbers to be printed on the Notes and the Trustee may use CUSIP numbers in notices of redemption as a convenience to Holders.

  
 11 

 
No representation is made as to the accuracy of such numbers either as printed on the Notes or as contained in any notice of redemption and reliance may be placed only on the other identification
numbers placed thereon. 
  

	19.	Additional Interest; Special Interest. 

 Holders shall be entitled to payments of Additional Interest or Special Interest to the extent set forth in the Indenture. 
 If the Company is required to pay Additional Interest or Special Interest to Holders, the Company shall provide a direction or order in the form of a written notice to the Trustee (and if the Trustee is
not the Paying Agent, to the Paying Agent) of the Company’s obligation to pay such Additional Interest or Special Interest no later than three Business Days prior to the date on which any such Additional Interest or Special Interest is
scheduled to be paid. Such notice shall set forth the amount of Additional Interest or Special Interest to be paid by the Company on such payment date and direct the Trustee (or, if the Trustee is not the Paying Agent, to the Paying Agent) to make
payment to the extent it receives funds from the Company to do so. The Trustee shall not at any time be under any duty or responsibility to any Holder to determine whether the Additional Interest or Special Interest is payable, or with respect to
the nature, extent, or calculation of the amount of the Additional Interest or Special Interest owed, or with respect to the method employed in such calculation of the Additional Interest or Special Interest. 

The Company will furnish to any Holder, upon written request and without charge, a copy of the Indenture which has in it the text of this
Note in larger type. Requests may be made to: 
 Cornerstone OnDemand, Inc. 
 1601 Cloverfield Blvd. 
 Suite 620 South 
 Santa Monica, CA 90404 
 (310) 752-0200 
 Attn: General Counsel 

  
 12 

 ASSIGNMENT FORM 
 To assign this Note, fill in the form below: 
 I or we assign and transfer this Note 

 
  
  

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

  
  

 
  
 (Print or type assignee’s name, address and zip code) 
 and irrevocably
appoint                     agent to transfer this Note on the books of the Company. The agent may substitute another to act for him. 

  
 13 

 CONVERSION NOTICE 
 To convert this Note into shares of Common Stock of the Company, check the box   ̈ 
 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): 
 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. or tax
ID no.) 
  
  

 
  
 (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

  
 14 

 FUNDAMENTAL CHANGE PURCHASE NOTICE 

U.S. Bank National Association 
 633 West 5th
Street, 24th Floor 

Los Angeles, California 90071 
 Facsimile:
(213) 615-6197 
 Attn: Paula M. Oswald, Corporate Trust Services 
 (Cornerstone OnDemand, Inc. 1.50% Convertible Senior Notes due 2018) 
 The
undersigned registered owner of this Note hereby acknowledges receipt of a notice from Cornerstone OnDemand, Inc. (the “Company”) as to the occurrence of a Fundamental Change with respect to the Company and specifying the
Fundamental Change Purchase Date and requests and instructs the Company to pay to the registered holder hereof in accordance with the applicable provisions of the Indenture referred to in this Note (1) the entire principal amount of this Note,
or the portion thereof (that is equal to $1,000 principal amount or an integral multiple thereof) below designated, and (2) if such Fundamental Change Purchase Date does not fall during the period after a Record Date and on or prior to the
corresponding Interest Payment Date, accrued and unpaid interest, if any, thereon to, but excluding, such Fundamental Change Purchase Date. 
 Certificate Number: 
  

			
	Dated:	 	  

  

	
	  

	Signature(s)
	
	  

	Social Security or Other Taxpayer Identification Number
	
	Principal amount to be repaid (if less than all):
	$        ,000
	
	NOTICE: The above signature(s) of the Holder(s) hereof must correspond with the name as written upon the face of the Note in every particular without alteration or enlargement or
any change whatever.

  
 15 

 [Include for Global Note] 
 SCHEDULE OF INCREASES AND DECREASES OF GLOBAL NOTE 
 Initial Principal Amount
of Global Note: 
  

									
	 Date
	  	 Amount of Increase

in Principal

Amount of Global
 Note
	  	 Amount of

Decrease in

Principal Amount
 of Global Note
	  	 Principal Amount

of Global Note
 After Increase or
 Decrease
	  	 Notation by

Registrar or Note
 Custodian

		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	

  
 16 

 EXHIBIT B 

FORM OF TRANSFER CERTIFICATE 
 1.50% Convertible Senior Notes due 2018 
 Transfer Certificate 

In connection with any transfer of any of the Notes within the period prior to the expiration of the holding period applicable to sales
thereof under Rule 144 under the Securities Act of 1933, as amended (the “Securities Act”) (or any successor provision), the undersigned registered owner of this Note hereby certifies with respect to
$        principal amount of the above-captioned Notes presented or surrendered on the date hereof (the “Surrendered Notes”) for registration of transfer, or for exchange or conversion where
the securities issuable upon such exchange or conversion are to be registered in a name other than that of the undersigned registered owner (each such transaction being a “transfer”), that such transfer complies with the restrictive
legend set forth on the face of the Surrendered Notes for the reason checked below: 

 ̈  A transfer of the Surrendered Notes is made to the Company or any of its
Subsidiaries; or 
  ̈  The transfer of the Surrendered Notes complies
with Rule 144A under the Securities Act; or 
  ̈  The transfer of the
Surrendered Notes is pursuant to an effective registration statement under the Securities Act; or 
  ̈  The transfer of the Surrendered Notes is pursuant to another available exemption from the registration requirement of the Securities Act. 

Unless the box below is checked, the undersigned confirms that, to the undersigned’s knowledge, such Notes are not being transferred
to an “affiliate” of the Company as defined in Rule 144 under the Securities Act (an “Affiliate”). 
  ̈  The transferee is an Affiliate of the Company. 
  

			
	Date:	 	  

		
	By:	 	  

  
 1 

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

			
	Signature Guaranteed
	
	  

	Participant in a Recognized Signature
	
	Guarantee Medallion Program
		
	By:	 	  

		 	Authorized Signatory

  
 2 

 EXHIBIT C 

RESTRICTED STOCK LEGEND 

THE SALE OF THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND
ACCORDINGLY, PRIOR TO THE RESALE RESTRICTION TERMINATION DATE (AS DEFINED BELOW), THIS SECURITY (AND ANY BENEFICIAL INTEREST HEREIN) MAY NOT BE OFFERED, RESOLD, OR OTHERWISE TRANSFERRED, EXCEPT: 

 

	(A)	TO THE COMPANY OR ANY SUBSIDIARY THEREOF; 

  

	(B)	PURSUANT TO A REGISTRATION STATEMENT THAT HAS BECOME EFFECTIVE UNDER THE SECURITIES ACT; OR 

 

	(C)	UNDER ANY OTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT (INCLUDING, IF AVAILABLE, THE EXEMPTION PROVIDED BY RULE 144 UNDER THE
SECURITIES ACT). 

 THE “RESALE RESTRICTION TERMINATION DATE” MEANS THE DATE: (A) THAT IS AT LEAST ONE YEAR AFTER
THE LAST DATE OF ORIGINAL ISSUANCE OF THE COMPANY’S 1.50% CONVERTIBLE SENIOR NOTES DUE 2018; AND (B) ON WHICH THE COMPANY HAS INSTRUCTED THE TRANSFER AGENT THAT THIS LEGEND WILL NO LONGER APPLY, IN ACCORDANCE WITH THE PROCEDURES DESCRIBED
IN THE INDENTURE FOR THE NOTES. 
 PRIOR TO ANY TRANSFER PURSUANT TO THE FOREGOING CLAUSE (C), THE COMPANY AND THE COMPANY’S TRANSFER AGENT
RESERVE THE RIGHT TO REQUIRE THE DELIVERY OF SUCH CERTIFICATIONS, LEGAL OPINIONS OR OTHER INFORMATION AS THEY MAY REASONABLY REQUIRE AND MAY RELY UPON TO CONFIRM THAT SUCH TRANSFER IS BEING MADE PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION NOT
SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. 

  
 1EX-10.2

 Exhibit 10.2 
 Opening Transaction 
  

			
	To:	  	 Cornerstone OnDemand, Inc.

1601 Cloverfield Blvd.
 Suite 620
South
 Santa Monica, CA 90404
 (310)
752-0200

		
	A/C:	  	[Insert Account Number]
		
	From:	  	[Dealer]
		
	Re:	  	[Base]1
[Additional]2 Convertible Bond Hedge
Transaction
		
	Ref. No:	  	[Insert Reference Number]
		
	Date:	  	June [—], 2013

 Dear Ladies and Gentlemen: 
 The purpose of this communication (this “Confirmation”) is to set forth the terms and conditions of the above-referenced transaction entered into on the Trade Date specified below (the
“Transaction”) between [Dealer] (“Dealer”) and Cornerstone OnDemand, Inc. (“Counterparty”). This communication constitutes a “Confirmation” as referred to in the ISDA Master Agreement
specified below. 
 1. This Confirmation is subject to, and incorporates, the definitions and provisions of the 2006 ISDA
Definitions (the “2006 Definitions”) and the definitions and provisions of the 2002 ISDA Equity Derivatives Definitions (the “Equity Definitions”, and together with the 2006 Definitions, the
“Definitions”), in each case as published by the International Swaps and Derivatives Association, Inc. (“ISDA”). In the event of any inconsistency between the 2006 Definitions and the Equity Definitions, the Equity
Definitions will govern. Certain defined terms used herein have the meanings assigned to them in the Indenture to be dated as of June 17, 2013 between Counterparty and U.S. Bank National Association, as trustee (the
“Indenture”), relating to the USD220,000,000 principal amount of 1.50% Convertible Senior Notes due 2018 (the “Convertible Securities”, and each USD1,000 principal amount of Convertible Securities, a
“Convertible Security”) [(as increased by up to an aggregate principal amount of USD33,000,000 if and to the extent that the Initial Purchasers (as defined herein) exercise their option to purchase additional Convertible Securities
pursuant to the Purchase Agreement (as defined herein)]3.
In the event of any inconsistency between the terms defined in the Indenture and this Confirmation, this Confirmation shall govern. For the avoidance of doubt, references 

 
  

	1 	Insert for the Base Convertible Bond Hedge Confirmation. 

	2 	Insert for the Additional Convertible Bond Hedge Confirmation. 

	3 	Delete for the Additional Convertible Bond Hedge Transaction. 

 
herein to sections of the Indenture are based on the draft of the Indenture most recently reviewed by the parties at the time of execution of this Confirmation. If any relevant sections of the
Indenture are changed, added or renumbered following the execution of this Confirmation but prior to the execution of the Indenture, the parties will amend this Confirmation in good faith to preserve the economic intent of the parties, based on the
draft of the Indenture. The parties further acknowledge that references to the Indenture herein are references to the Indenture as in effect on the date of its execution and if the Indenture is amended, modified or supplemented following its
execution, any such amendment, modification or supplement will be disregarded for purposes of this Confirmation (other than Section 8(b)(ii) below) unless the parties agree otherwise in writing. The Transaction is subject to early unwind if the
closing of the Convertible Securities is not consummated for any reason, as set forth below in Section 8(k). 
 Each party
is hereby advised, and each such party acknowledges, that the other party has engaged in, or refrained from engaging in, substantial financial transactions and has taken other material actions in reliance upon the parties’ entry into the
Transaction to which this Confirmation relates on the terms and conditions set forth below. 
 This Confirmation evidences a
complete and binding agreement between Dealer and Counterparty as to the terms of the Transaction to which this Confirmation relates. This Confirmation shall be subject to an agreement (the “Agreement”) in the form of the 2002 ISDA
Master Agreement as if Dealer and Counterparty had executed an agreement in such form on the date hereof (but without any Schedule except for (i) the election of US Dollars (“USD”) as the Termination Currency and (ii) the
election that the “Cross Default” provisions of Section 5(a)(vi) of the Agreement shall apply to Counterparty and to Dealer (a) with a “Threshold Amount” of USD35 million applicable to Counterparty and 2% of the
Dealer’s ultimate parent’s shareholders equity applicable to Dealer, (b) the phrase “or becoming capable at such time of being declared” shall be deleted from clause (1) of such Section 5(a)(vi)), and (c) the
following language shall be added to the end thereof: “Notwithstanding the foregoing, a default under subsection (2) hereof shall not constitute an Event of Default if (x) the default was caused solely by error or omission of an
administrative or operational nature; (y) funds were available to enable the party to make the payment when due; and (z) the payment is made within two Local Business Days of such party’s receipt of written notice of its failure to
pay.” 
 All provisions contained in, or incorporated by reference to, the Agreement will govern this Confirmation except
as expressly modified herein. In the event of any inconsistency between this Confirmation and either the Definitions or the Agreement, this Confirmation shall govern. 
 The Transaction hereunder shall be the sole Transaction under the Agreement. If there exists any ISDA Master Agreement between Dealer and Counterparty or any confirmation or other agreement between Dealer
and Counterparty pursuant to which an ISDA Master Agreement is deemed to exist between Dealer and Counterparty, then notwithstanding anything to the contrary in such ISDA Master Agreement, such confirmation or agreement or any other agreement to
which Dealer and Counterparty are parties, the Transaction shall not be considered a Transaction under, or otherwise governed by, such existing or deemed ISDA Master Agreement. [Contemporaneously with the execution of this Confirmation, [Dealer
Parent], a Delaware Corporation and parent of Dealer, will provide a guarantee in favor of the Issuer in a form reasonably satisfactory to Issuer.]4 
  

 

	4 	To be applicable to Dealers that use non-rated booking entities and are supported by a parent guarantee. 

  
 2 

 2. The Transaction constitutes a Share Option Transaction for purposes of the Equity
Definitions. The terms of the particular Transaction to which this Confirmation relates are as follows: 
 General Terms: 

 

			
	Trade Date:	  	June 11, 2013
		
	Effective Date:	  	The closing date of the [initial]5 issuance of the Convertible Securities [issued pursuant to the option to purchase additional Convertible Securities exercised on the date hereof]6.
		
	Option Style:	  	Modified American, as described under “Procedures for Exercise” below.
		
	Option Type:	  	Call
		
	Seller:	  	Dealer
		
	Buyer:	  	Counterparty
		
	Shares:	  	The Common Stock of Counterparty, par value USD0.0001 (Ticker Symbol: “CSOD”).
		
	Number of Options:	  	[            ]. For the avoidance of doubt, the Number of Options outstanding shall be reduced by each exercise of
Options hereunder. In no event will the Number of Options be less than zero.
		
	Applicable Percentage:	  	[    ]%
		
	Option Entitlement:	  	As of any date, a number of Shares per Option equal to (i) the “Conversion Rate” (as defined in the Indenture, but without regard to any adjustments to the Conversion
Rate pursuant to a Fundamental Change Adjustment or a Discretionary Adjustment) multiplied by (ii) the Applicable Percentage.

  
  

	5 	 Insert for the Base Convertible Bond Hedge Confirmation only. 

	6 	 Insert for the Additional Convertible Bond Hedge Confirmation only. 

  
 3 

			
	Fundamental Change Adjustment:	  	Any adjustment to the Conversion Rate pursuant to Section 10.07 of the Indenture.
		
	Discretionary Adjustment:	  	Any adjustment to the Conversion Rate pursuant to Section 10.05(l) of the Indenture.
		
	Strike Price:	  	As of any date, an amount in USD equal to USD1,000 divided by the “Conversion Rate” (as defined in the Indenture, but without regard to any adjustments to the
Conversion Rate pursuant to a Fundamental Change Adjustment or a Discretionary Adjustment). The Strike Price shall be rounded by the Calculation Agent in accordance with the applicable provisions of the Indenture.
		
	Number of Shares:	  	As of any date, a number of Shares equal to the product of (i) the Number of Options and (ii) the Option Entitlement.
		
	Premium:	  	USD[            ]
		
	Premium Payment Date:	  	The Effective Date
		
	Exchange:	  	The NASDAQ Global Select Market
		
	Related Exchange:	  	All Exchanges; provided that Section 1.26 of the Equity Definitions shall be amended to add the words “United States” before the word “exchange” in the
tenth line of such Section.

 Procedures for Exercise: 

			
		
	Conversion Date:	  	With respect to any conversion of a Convertible Security, the date on which the Holder (as such term is defined in the Indenture) of such Convertible Security satisfies all of
the requirements for conversion thereof as set forth in Section 10.02(a) of the Indenture.
		
	Free Convertibility Date:	  	April 1, 2018
		
	Expiration Time:	  	The Valuation Time
		
	Expiration Date:	  	July 1, 2018, subject to earlier exercise.
		
	Multiple Exercise:	  	Applicable, as described under “Automatic Exercise” below.
		
	Automatic Exercise:	  	Notwithstanding Section 3.4 of the Equity Definitions, on each Conversion Date in respect of which a “Notice of Conversion” (as defined in the Indenture) that is
effective

  
 4 

			
		  	as to Counterparty has been delivered by the relevant converting Holder, a number of Options equal to [(i)] the number of Convertible Securities in denominations of USD 1,000 as
to which such Conversion Date has occurred [minus (ii) the number of Options that are or are deemed to be deemed to be automatically exercised on such Conversion Date under the Base Convertible Bond Hedge Transaction Confirmation letter agreement
dated June [    ], 2013 between Dealer and Counterparty (the “Base Convertible Bond Hedge Confirmation”)]7 ; provided that such Options shall be exercised or deemed exercised only to the extent Counterparty has provided a
Notice of Exercise to Dealer in accordance with “Notice of Exercise” below. Notwithstanding the foregoing, in no event shall the number of Options that are exercised or deemed exercised hereunder exceed the Number of
Options.
		
	Notice of Exercise:	  	Notwithstanding anything to the contrary in the Equity Definitions or under “Automatic Exercise” above, in order to exercise any Options, Counterparty, or the trustee
on behalf of the Counterparty, must notify Dealer in writing before 12:00 p.m. (New York City time) on the second Scheduled Valid Day immediately preceding the scheduled first day of the Settlement Averaging Period for the Options being exercised of
(i) the number of such Options, (ii) the scheduled first day of the Settlement Averaging Period and the scheduled Settlement Date, (iii) the Relevant Settlement Method for such Options, and (iv) if the settlement method for the related Convertible
Securities is not Settlement in Cash (each as defined below), the fixed amount of cash per Convertible Security that Counterparty has elected to deliver to Holders (as such term is defined in the Indenture) of the related Convertible Securities (the
“Specified Cash Amount”); provided that in respect of any Options relating to Convertible Securities with a Conversion Date occurring on or after the Free Convertibility Date, (A) such notice may be given on or prior to the
second Scheduled Valid Day immediately preceding the Expiration Date and need only specify the information required in clause (i) above, and (B) if the Relevant Settlement Method for such Options is (x) Cash Settlement or (y) Combination Settlement,
Dealer shall

  
  

	7 	 Insert for the Additional Convertible Bond Hedge Confirmation only. 

  
 5 

			
		  	have received a separate notice (the “Notice of Final Settlement Method”) in respect of all such Convertible Securities before 12:00 p.m. (New York City time) on
the Free Convertibility Date specifying the information required in clauses (iii) and (iv) above[; provided, further, that any “Notice of Exercise” or “Notice of Final Settlement Method” delivered to Dealer pursuant to the
Base Convertible Bond Hedge Confirmation shall be deemed to be a Notice of Exercise or Notice of Final Settlement Method, as the case may be, pursuant to this Confirmation and the terms of such Notice of Exercise or Notice of Final Settlement Method
shall apply, mutatis mutandis, to this Confirmation]8
. Counterparty acknowledges its responsibilities under applicable securities laws, and in particular Section 9 and Section 10(b) of the Securities Exchange Act of 1934, as amended (the
“Exchange Act”) and the rules and regulations thereunder, in respect of any election of a settlement method with respect to the Convertible Securities.
		
		  	For the avoidance of doubt, if Counterparty fails to give notice as required above when due in respect of any exercise of Options hereunder, Dealer’s obligation to make any
payment or delivery in respect of such exercise (but not in respect of any subsequent exercise) shall be permanently extinguished, and late notice shall not cure such failure; provided that notwithstanding the foregoing, such notice (and the
related exercise of Options) shall be effective if given after the Exercise Notice Deadline, but prior to 4:00 P.M. New York City time, on the fifth Exchange Business Day following the Exercise Notice Deadline, in which event Dealer’s Delivery
Obligation shall not be extinguished but may instead be adjusted by the Calculation Agent to reflect the additional costs (including, but not limited to, hedging mismatches and market losses) and expenses incurred by Dealer in connection with its
hedging activities (including the unwinding of any hedge position) as a result of Dealer not having received such notice on or prior to the Exercise Notice Deadline.
		
	Valuation Time:	  	At the close of trading of the regular trading session on the Exchange; provided that if the principal trading session is extended, the Calculation Agent shall determine
the Valuation Time in its reasonable discretion.

  
  

	8 	 Include for Additional Convertible Bond Hedge Confirmation only. 

  
 6 

			
	Market Disruption Event:	  	Section 6.3(a) of the Equity Definitions is hereby replaced in its entirety by the following:
		
		  	“‘Market Disruption Event’ means, in respect of a Share, (i) a failure by the Relevant Stock Exchange to open for trading during its regular trading session or
(ii) the occurrence or existence prior to 1:00 p.m. (New York City time) on any Scheduled Valid Day for the Shares for more than one half-hour period in the aggregate during regular trading hours of any suspension or limitation imposed on trading
(by reason of movements in price exceeding limits permitted by the Relevant Stock Exchange or otherwise) in the Shares or in any options contracts or future contracts relating to the Shares.”
		
	Relevant Stock Exchange:	  	The NASDAQ Global Select Market or, if the Shares are not then listed on the NASDAQ Global Select Market, the principal other U.S. national or regional securities exchange on
which the Shares are then listed or, if the Shares are not then listed on a U.S. national or regional securities exchange, the over-the-counter market, as reported by the National Quotation Bureau or similar organization or, if the Shares are not
then quoted by the National Quotation Bureau or similar organization, the principal other market on which the Shares are then traded.
		
	Dealer’s Telephone Number and Telex and/or Facsimile Number and Contact Details for purpose of Giving Notice:	  	As specified in Section 6(b) below.

 Settlement Terms: 

			
		
	Settlement Method:	  	For any Option, Net Share Settlement; provided that if the Relevant Settlement Method set forth below for such Option is not Net Share Settlement, then the Settlement
Method for such Option shall be such Relevant Settlement Method, but only if (x) Counterparty shall have notified Dealer of the Relevant Settlement Method in the Notice of Exercise or Notice of Final Settlement Method, as applicable, for such Option
and (y) the Notice of Exercise or Notice of Final Settlement Method, as the case may be, contains in writing the following representations and warranties from Counterparty to Dealer as of such notice delivery
date:

  
 7 

			
		  	 (i)      none of Counterparty and its officers or directors, or any person that controls,
potentially controls, or otherwise exercises influence over, Counterparty’s decision to elect the settlement method for the relevant Convertible Securities is aware of any material nonpublic information regarding Counterparty or the
Shares;

		
		  	 (ii)     Counterparty is electing the settlement method for the relevant Convertible Securities in
good faith and not as part of a plan or scheme to evade compliance with the U.S. federal securities laws; Counterparty is not electing the settlement method for the relevant Convertible Securities or the Relevant Settlement Method to create actual
or apparent trading activity in the Shares (or any security convertible into or exchangeable for Shares) or to raise or depress or otherwise manipulate the price of the Shares (or any security convertible into or exchangeable for Shares) or
otherwise in violation of the Exchange Act; and Counterparty has not entered into or altered any hedging transaction relating to the Shares corresponding to or offsetting the Transaction;

		
		  	 (iii)   Counterparty has the power to make such election and to execute and deliver any documentation relating
to such election that it is required by this Confirmation to deliver and to perform its obligations under this Confirmation and has taken all necessary action to authorize such election, execution, delivery and performance;

		
		  	 (iv)    such election and performance of its obligations under this Confirmation do not violate or
conflict with any law applicable to it, any provision of its constitutional documents, any order or judgment of any court or other agency of government applicable to it or any of its assets or any contractual restriction binding on or affecting it
or any of its assets; and

		
		  	 (v)     any transaction that Dealer makes with respect to the Shares during the period beginning at
the time that Counterparty delivers such notice and ending at the close of business on the final day of the Settlement Averaging Period shall be made by Dealer at Dealer’s sole discretion for Dealer’s own account and Counterparty shall not
have, and shall not attempt to

  
 8 

			
		
		  	 exercise, any influence over how, when, whether or at what price Dealer effects such transactions, including, without limitation, the prices paid
or received by Dealer per Share pursuant to such transactions, or whether such transactions are made on any securities exchange or privately.

		
	Relevant Settlement Method:	  	In respect of any Option:
		
		  	 (i)      if Counterparty has elected to settle its conversion obligations in respect of the
related Convertible Security in a combination of cash and Shares pursuant to Section 10.03(a) of the Indenture with a Specified Cash Amount equal to USD1,000, then the Relevant Settlement Method for such Option shall be Net Share Settlement;
and

		
		  	 (ii)     if Counterparty has elected to settle its conversion obligations in respect of the related
Convertible Security in a combination of cash and Shares pursuant to Section 10.03(b) of the Indenture with a Specified Cash Amount greater than USD1,000, then the Relevant Settlement Method for such Option shall be Combination Settlement;
and

		
		  	 (iii)   if Counterparty has elected to settle its conversion obligations in respect of the related Convertible
Security entirely in cash pursuant to Section 10.03(b) of the Indenture (such settlement method, “Settlement in Cash”), then the Relevant Settlement Method for such Option shall be Cash Settlement.

		
	Net Share Settlement:	  	If Net Share Settlement is applicable to any Option exercised or deemed exercised hereunder, Dealer will deliver to Counterparty, on the relevant Settlement Date for each such
Option, a number of Shares (the “Net Share Settlement Amount”) equal to the sum, for each Valid Day during the Settlement Averaging Period for each such Option, of (i) (a) the Daily Option Value for such Valid Day, divided by
(b) the Relevant Price on such Valid Day, divided by (ii) the number of Valid Days in the Settlement Averaging Period; provided that if such exercise relates to the conversion of Convertible Securities in connection with which Holders
thereof are entitled to receive additional Shares pursuant to a Fundamental Change Adjustment, then the Net Share Settlement Amount shall be a number of Shares equal to the lesser of (i) the Net Share
Settlement

  
 9 

			
		  	Amount determined as if the Option Entitlement referenced in “Daily Option Value” were adjusted pursuant to such Fundamental Change Adjustment and (ii) a number of
Shares with a value equal to the Relevant Termination Amount for such Option, as determined by the Calculation Agent (and the value of any such Shares determined by the Calculation Agent using the open trading price on the last day of the relevant
Settlement Averaging Period); provided further that notwithstanding the immediately preceding proviso, in no event shall the Net Share Settlement Amount for any Option exceed a number of Shares equal to the Applicable Limit for such Option
divided by the Applicable Limit Price on the Settlement Date for such Option.
		
		  	Dealer will deliver cash in lieu of any fractional Shares to be delivered with respect to any Net Share Settlement Share Amount valued at the Relevant Price for the last Valid
Day of the Settlement Averaging Period.
		
	Combination Settlement:	  	If Combination Settlement is applicable to any Option exercised or deemed exercised hereunder, Dealer will deliver to Counterparty, on the relevant Settlement Date for each such
Option:
		
		  	 (i)      cash (the “Combination Settlement Cash Amount”) equal to the sum, for
each Valid Day during the Settlement Averaging Period for such Option, of (A) an amount (the “Daily Combination Settlement Cash Amount”) equal to the lesser of (1) the product of (x) the Applicable Percentage and (y) the Specified
Cash Amount minus USD1,000 and (2) the Daily Option Value, divided by (B) the number of Valid Days in the Settlement Averaging Period; provided that if the calculation in clause (A) above results in zero or a negative number for
any Valid Day, the Daily Combination Settlement Cash Amount for such Valid Day shall be deemed to be zero; and

		
		  	 (ii)     Shares (the “Combination Settlement Share Amount”) equal to the sum, for
each Valid Day during the Settlement Averaging Period for such Option, of a number of Shares for such Valid Day (the “Daily Combination Settlement Share Amount”) equal to (A) (1) the Daily Option Value on such Valid Day
minus the Daily Combination Settlement Cash Amount for such Valid Day, divided by (2) the Relevant Price on such Valid Day, divided by (B) the number of
Valid

  
 10 

			
		  	           Days in the Settlement Averaging Period; provided that if
the calculation in sub-clause (A)(1) above results in zero or a negative number for any Valid Day, the Daily Combination Settlement Share Amount for such Valid Day shall be deemed to be zero;

		
		  	provided that, if such exercise relates to the conversion of Convertible Securities in connection with which Holders thereof are entitled to receive additional Shares
pursuant to a Fundamental Change Adjustment, then the aggregate value of the sum of the Combination Settlement Cash Amount and the Combination Settlement Share Amount shall be equal to the lesser of (i) the aggregate value of the sum of the
Combination Settlement Cash Amount and the Combination Settlement Share Amount determined as if the Option Entitlement referenced in “Daily Option Value” were adjusted pursuant to such Fundamental Change Adjustment and (ii) cash and Shares
with an aggregate value equal to the Relevant Termination Amount for such Option, as determined by the Calculation Agent (and the value of any such Shares determined by the Calculation Agent using the open trading price on the last day of the
relevant Settlement Averaging Period); provided further that notwithstanding the immediately preceding proviso, in no event shall the sum of (x) the Combination Settlement Cash Amount for any Option and (y) the Combination Settlement Share
Amount for such Option multiplied by the Applicable Limit Price on the Settlement Date for such Option, exceed the Applicable Limit for such Option.
		
		  	Dealer will deliver cash in lieu of any fractional Shares to be delivered with respect to any Combination Settlement Share Amount valued at the Relevant Price for the last Valid
Day of the Settlement Averaging Period.
		
	Cash Settlement:	  	If Cash Settlement is applicable to any Option exercised or deemed exercised hereunder, in lieu of Section 8.1 of the Equity Definitions, Dealer will pay to Counterparty, on the
relevant Settlement Date for each such Option, an amount of cash (the “Cash Settlement Amount”) equal to the sum, for each Valid Day during the Settlement Averaging Period for such Option, of (i) the Daily Option Value for such
Valid Day, divided by (ii) the number of Valid Days in the Settlement Averaging Period; provided that, if such exercise relates to the conversion of Convertible Securities in connection with which Holders thereof are entitled to
receive additional Shares pursuant to a Fundamental

  
 11 

			
		  	Change Adjustment, then the Cash Settlement Amount shall be equal to the lesser of (i) the Cash Settlement Amount determined as if the Option Entitlement referenced in
“Daily Option Value” were adjusted pursuant to such Fundamental Change Adjustment and (ii) the Relevant Termination Amount for such Option, as determined by the Calculation Agent (and the value of any such Shares determined by the
Calculation Agent using the open trading price on the last day of the relevant Settlement Averaging Period).
		
	Delivery Obligation:	  	For any Settlement Date, the Net Share Settlement Amount, the Cash Settlement Amount, the Combination Settlement Cash Amount or the Combination Settlement Share Amount payable or
deliverable on such Settlement Date.
		
	Daily Option Value:	  	For any Valid Day, an amount equal to (i) the Option Entitlement on such Valid Day, multiplied by (ii) the Relevant Price on such Valid Day less the Strike Price on
such Valid Day; provided that if the calculation contained in clause (ii) above results in a negative number, the Daily Option Value for such Valid Day shall be deemed to be zero. In no event will the Daily Option Value be less than
zero.
		
	Relevant Termination Amount:	  	For any Option, the amount determined by the Calculation Agent that would be payable by Dealer pursuant to Section 6 of the Agreement if the relevant Conversion Date were an
Early Termination Date resulting from an Additional Termination Event with respect to which the Transaction was the sole Affected Transaction and Counterparty was the sole Affected Party (determined without regard to Section 8(c) of this
Confirmation), provided that such amount will be determined as if the Fundamental Change Adjustment provisions were deleted from the Indenture.
		
	Applicable Limit:	  	For any Option, an amount of cash equal to the Applicable Percentage multiplied by the excess of (i) the aggregate of (A) the amount of cash delivered to the Holder
of the related Convertible Security upon conversion of such Convertible Security and (B) the number of Shares, if any, delivered to the Holder of the related Convertible Security upon conversion of such Convertible Security multiplied by the
Applicable Limit Price on the Settlement Date for such Option, over (ii) USD1,000.

  
 12 

			
	Applicable Limit Price:	  	On any day, the opening price as displayed under the heading “Op” on Bloomberg page CSOD <equity> (or any successor thereto).
		
	Valid Day:	  	A day on which (i) there is no Market Disruption Event and (ii) trading in the Shares generally occurs on the Relevant Stock Exchange. If the Shares are not listed, quoted or
traded on any U.S. securities exchange or any other market, “Valid Day” means a Business Day.
		
	Scheduled Valid Day:	  	A day that is scheduled to be a Valid Day on the Relevant Stock Exchange. If the Shares are not listed, quoted or traded on any U.S. securities exchange or any other market,
“Scheduled Valid Day” means a Business Day.
		
	Business Day:	  	Any day other than a Saturday, a Sunday or other day on which banking institutions are authorized or required by law, regulation or executive order to close or be closed in the
State of New York.
		
	Relevant Price:	  	On any Valid Day, the per Share volume-weighted average price as displayed under the heading “Bloomberg VWAP” on Bloomberg page “CSOD.Q <equity> AQR”
(or its equivalent successor if such page is not available) (the “Nasdaq VWAP”) in respect of the period from the scheduled open of trading until the scheduled close of trading of the primary trading session on such Valid Day (or if
such volume-weighted average price is unavailable at such time, the market value of one Share on such Valid Day, as determined by the Calculation Agent using, if practicable, a volume-weighted average method substantially similar to the method for
determining the Nasdaq VWAP). The Relevant Price will be determined without regard to after-hours trading or any other trading outside of the regular trading session trading hours.
		
	Settlement Averaging Period:	  	For any Option and regardless of the Settlement Method applicable to such Option:
		
		  	 (i)      if the related Conversion Date occurs prior to the Free Convertibility Date, the 40
consecutive Valid Days commencing on, and including, the third Valid Day following such Conversion Date; or

		
		  	 (ii)     if the related Conversion Date occurs on or following the Free Convertibility Date, the 40
consecutive Valid Days commencing on, and including, the
42nd Scheduled Valid Day immediately prior to the
Expiration Date.

  
 13 

			
	Settlement Date:	  	For any Option, the third Business Day immediately following the final Valid Day of the Settlement Averaging Period for such Option.
		
	Settlement Currency:	  	USD
		
	Other Applicable Provisions:	  	The provisions of Sections 9.1(c), 9.8, 9.9, 9.11 and 9.12 of the Equity Definitions will be applicable, except that all references in such provisions to
“Physically-settled” shall be read as references to “Share Settled”. “Share Settled” in relation to any Option means that Net Share Settlement or Combination Settlement is applicable to that Option. The last sentence of
Section 9.12 of the Equity Definitions is hereby amended and restated to read “Notwithstanding the foregoing, a party shall not be responsible for any special, indirect or consequential damages (including, without limitation, delayed or lost
‘earnings per share’ benefits and delayed or loss tax benefits), even if informed of the possibility thereof.”
		
	Representation and Agreement:	  	Notwithstanding anything to the contrary in Equity Definitions (including, but not limited to, Section 9.11 thereof), the parties acknowledge that (i) any Shares delivered to
Counterparty shall be, upon delivery, subject to restrictions and limitations arising from Counterparty’s status as issuer of the Shares under applicable securities laws, (ii) Dealer may deliver any Shares required to be delivered hereunder in
certificated form in lieu of delivery through the Clearance System and (iii) any Shares delivered to Counterparty may be “restricted securities” (as defined in Rule 144 under the Securities Act of 1933, as amended (the “Securities
Act”)). With respect to any such certificated Shares (as described in clause (ii) above), the Representation and Agreement contained in Section 9.11 of the Equity Definitions shall be modified by deleting the remainder of the provision
after the word “encumbrance” in the fourth line thereof.

 Adjustments:

			
		
	Method of Adjustment:	  	Notwithstanding Section 11.2 of the Equity Definitions, upon the occurrence of any event or condition set forth in Section 10.05(a), 10.05(b), 10.05(c), 10.05(d), 10.05(e) and
10.05(j) of the Indenture (each, a “Potential Adjustment

  
 14 

			
		  	Event”), the Calculation Agent shall make a corresponding adjustment in respect of any one or more of the Strike Price, the Number of Options, the Option Entitlement
and any other term relevant to the exercise, settlement or payment of the Transaction; provided that, notwithstanding the foregoing, if the Calculation Agent acting in good faith and a commercially reasonable manner disagrees with any
adjustment to the Convertible Securities that involves an exercise of discretion by Counterparty or its board of directors (including, without limitation, pursuant to Section 10.05(l) of the Indenture or in connection with any proportional
adjustment or the determination of the fair value of any securities, property, rights or other assets) and determines that such adjustment was materially inaccurate or based on materially inaccurate inputs, then in each such case, the Calculation
Agent will determine the adjustment to be made to any one or more of the Strike Price, Number of Options, Option Entitlement and any other variable relevant to the exercise, settlement or payment for the Transaction in a commercially reasonable
manner; provided, further, that, notwithstanding the foregoing, if any Potential Adjustment Event occurs during the Settlement Averaging Period but no adjustment was made to any Convertible Security under the Indenture because the relevant
Holder (as such term is defined in the Indenture) was deemed to be a record owner of the underlying Shares on the related Conversion Date, then the Calculation Agent shall make an adjustment, as reasonably determined by it, to the terms hereof in
order to account for such Potential Adjustment Event.
		
		  	Promptly upon the occurrence of any Potential Adjustment Event, Counterparty shall notify the Calculation Agent of such Potential Adjustment Event.
		
		  	For the avoidance of doubt, Dealer shall not have any delivery obligation hereunder in respect of any “Distributed Property” (as defined in the Indenture) delivered by
Counterparty pursuant to Section 10.05(c) of the Indenture or any payment obligation in respect of any cash paid by Counterparty pursuant to Section 10.05(d) of the Indenture (collectively, the “Conversion Rate Adjustment Fallback
Provisions”), and no adjustment shall be made to the terms of the Transaction on account of any event or condition described in the Conversion Rate Adjustment Fallback
Provisions.

  
 15 

 Extraordinary Events: 

			
		
	Merger Events:	  	Applicable; provided that notwithstanding Section 12.1(b) of the Equity Definitions, a “Merger Event” means the occurrence of any event or condition set forth in
the definition of “Merger Event” in Section 10.06 of the Indenture.
		
	Tender Offer:	  	Applicable
		
	Consequences of Merger Events /	  	
		
	Tender Offers:	  	Notwithstanding Section 12.2 and 12.3 of the Equity Definitions, upon the occurrence of a Merger Event that results in an adjustment under the Indenture, the Calculation Agent
shall make a corresponding adjustment in respect of any one or more of the Strike Price, the Number of Options, the Option Entitlement and any other term relevant to the exercise, settlement or payment of the Transaction; provided that such
adjustment shall be made without regard to any adjustment to the Conversion Rate pursuant to a Fundamental Change Adjustment or a Discretionary Adjustment; and provided further that the Calculation Agent may limit or alter any such adjustment
referenced in this paragraph so that the fair value of the Transaction is not reduced as a result of such adjustment; and provided further that if, with respect to a Merger Event, the consideration for the Shares includes (or, at the option
of a holder of Shares, may include) shares of an entity or person not organized under the laws of the United States, any state thereof or the District of Columbia, Cancellation and Payment (Calculation Agent Determination) shall
apply.
		
	Notice of Merger Consideration	  	
	and Consequences:	  	Upon the occurrence of a Merger Event that causes the Shares to be converted into the right to receive more than a single type of consideration (determined based in part upon any
form of stockholder election), Counterparty shall reasonably promptly (but in any event prior to the relevant merger date) notify the Calculation Agent of (i) the type and amount of consideration that a holder of Shares would have been entitled to
in the case of reclassifications, consolidations, mergers, sales or transfers of assets or other transactions that cause Shares to be converted into the right to receive more than a single type of consideration, (ii) the weighted average of the
types and amounts of consideration

  
 16 

			
		  	to be received by the holders of Shares that affirmatively make such an election, and (iii) the details of the adjustment to be made under the Indenture in respect of such Merger
Event.
		
	Nationalization, Insolvency or	  	
	Delisting:	  	Cancellation and Payment (Calculation Agent Determination); provided that in addition to the provisions of Section 12.6(a)(iii) of the Equity Definitions, it will also
constitute a Delisting if the Shares are not immediately re-listed, re-traded or re-quoted on any of the New York Stock Exchange, The NASDAQ Global Select Market or The NASDAQ Global Market (or their respective successors); if the Shares are
immediately re-listed, re-traded or re-quoted on any such exchange or quotation system, such exchange or quotation system shall thereafter be deemed to be the Exchange.
		
	Additional Disruption Events:	  	
		
	 (a)     Change in Law:
	  	Applicable; provided that Section 12.9(a)(ii) of the Equity Definitions is hereby amended by (i) replacing the phrase “the interpretation” in the third line
thereof with the phrase “, or public announcement of, the formal or informal interpretation”, (ii) by adding the phrase “and/or Hedge Position” after the word “Shares” in clause (X) thereof and (iii) by immediately
following the word “Transaction” in clause (X) thereof, adding the phrase “in the manner contemplated by the Hedging Party on the Trade Date”; provided, further that any determination as to whether (A) the adoption of or
any change in any applicable law or regulation (including, for the avoidance of doubt and without limitation, (x) any tax law or (y) adoption or promulgation of new regulations authorized or mandated by existing statute) or (B) the promulgation of
or any change in the interpretation by any court, tribunal or regulatory authority with competent jurisdiction of any applicable law or regulation (including any action taken by a taxing authority), in each case, constitutes a “Change in
Law” shall be made without regard to Section 739 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 or any similar legal certainty provision in any legislation enacted, or rule or regulation promulgated, on or after the
Trade Date.
		
	 (b)     Failure to Deliver:
	  	Applicable

  
 17 

			
	 (c)     Insolvency Filing:
	  	Applicable
		
	 (d)     Hedging Disruption:
	  	Applicable; provided that Section 12.9(a)(v) of the Equity Definitions is hereby modified by inserting the following two phrases at the end of such
Section:
		
		  	“For the avoidance of doubt, the term “equity price risk” shall be deemed to include, but shall not be limited to, stock price and volatility risk. And, for the
further avoidance of doubt, the transactions or assets referred to in phrases (A) or (B) above must be available on commercially reasonable pricing and other terms.”
		
	 (e)     Increased Cost of

          Hedging:
	  	Not Applicable
		
	Hedging Party:	  	Dealer
		
	Determining Party:	  	Dealer
		
	Non-Reliance:	  	Applicable
		
	Agreements and Acknowledgments Regarding Hedging Activities:	  	Applicable
		
	Additional Acknowledgments:	  	Applicable

 3. Calculation Agent: Dealer; provided that all determinations made by the Calculation
Agent shall be made in good faith and in a commercially reasonable manner; provided further that, upon receipt of written request from Counterparty, the Calculation Agent shall promptly provide Counterparty with a written explanation
describing in reasonable detail any calculation, adjustment or determination made by it (including any quotations, market data or information from internal or external sources used in making such calculation, adjustment or determination, as the case
may be, but without disclosing Dealer’s proprietary models or other information that may be proprietary or subject to contractual, legal or regulatory obligations to not disclose such information), and shall use commercially reasonable efforts
to provide such written explanation within five (5) Exchange Business Days from the receipt of such request. 
 4.
Account Details: 
 Dealer Payment Instructions: 
 To be provided by Dealer. 
 Counterparty Payment Instructions: 

To be provided by Counterparty. 

  
 18 

 5. Offices: 
 The Office of Dealer for the Transaction is: 

[                    ] 

The Office of Counterparty for the Transaction is: 
 Not Applicable. 
 6. Notices: For purposes of this Confirmation: 

 

	 	(a)	Address for notices or communications to Counterparty: 

  

			
	To:	  	Cornerstone OnDemand, Inc.
		  	1601 Cloverfield Blvd.
		  	Suite 620 South
		  	Santa Monica, CA 90404
		  	(310) 752-0200
	Attn:	  	Perry Wallack
		  	Chief Financial Officer
	Telephone:	  	(310) 752-0200
	Facsimile:	  	(310) 453-7113
	
	With a copy to:
		
	Attn:	  	Adam Weiss
		  	General Counsel
	Telephone:	  	(310) 752-0113
	Facsimile:	  	(310) 496-1654
	
	And email notification to the following addresses:
	
	pwallack@csod.com; aweiss@csod.com

  

	 	(b)	Address for notices or communications to Dealer: 

  

			
	To:	  	[                    ]
	Attn:	  	[                    ]
		  	[                    ]
	Telephone:	  	[                    ]
	Facsimile:	  	[                    ]
	
	With a copy to:
		
	Attn:	  	[                    ]
		  	[                    ]

  
 19 

			
	Telephone:	  	[                    ]
	Facsimile:	  	[                    ]
	
	And email notification to the following address:
	[                    ]	  	

 7. Representations, Warranties and Agreements: 

(a) In addition to the representations and warranties in the Agreement and those contained elsewhere herein, Counterparty represents and
warrants to and for the benefit of, and agrees with, Dealer as follows: 
 (i) On the Trade Date and as of the
date of any election by Counterparty of the Share Termination Alternative under (and as defined in) Section 8(c) below, (A) none of Counterparty and its officers and directors is aware of any material nonpublic information regarding
Counterparty or the Shares and (B) all reports and other documents filed by Counterparty with the Securities and Exchange Commission pursuant to the Exchange Act when considered as a whole (with the more recent such reports and documents deemed
to amend inconsistent statements contained in any earlier such reports and documents), do not contain any untrue statement of a material fact or any omission of a material fact required to be stated therein or necessary to make the statements
therein, in the light of the circumstances in which they were made, not misleading. 
 (ii) (A) On the Trade
Date, the Shares or securities that are convertible into Shares are not, and shall not be, subject to a “restricted period,” as such term is defined in Regulation M under the Exchange Act (“Regulation M”) and
(B) Counterparty shall not engage in any “distribution,” as such term is defined in Regulation M, other than a distribution meeting the requirements of the exceptions set forth in sections 101(b)(10) and 102(b)(7) of Regulation M
until the second Exchange Business Day immediately following the Trade Date. 
 (iii) Without limiting the
generality of Section 13.1 of the Equity Definitions, Counterparty acknowledges that neither Dealer nor any of its affiliates is making any representations or warranties or taking any position or expressing any view with respect to the
treatment of the Transaction under any accounting standards including ASC Topic 260, Earnings Per Share, ASC Topic 815, Derivatives and Hedging, or ASC Topic 480, Distinguishing Liabilities from Equity and ASC 815-40, Derivatives
and Hedging – Contracts in Entity’s Own Equity (or any successor issue statements). 
 (iv) Without
limiting the generality of Section 3(a)(iii) of the Agreement, the Transaction will not violate Rule 13e-1 or Rule 13e-4 under the Exchange Act. 
 (v) Prior to the Trade Date, Counterparty shall deliver to Dealer a resolution of Counterparty’s board of directors authorizing the Transaction and such other certificate or certificates as Dealer
shall reasonably request. 
 (vi) Counterparty is not entering into this Confirmation to create actual or
apparent trading activity in the Shares (or any security convertible into or exchangeable for Shares) or to raise or depress or otherwise manipulate the price of the Shares (or any security convertible into or exchangeable for Shares) or otherwise
in violation of the Exchange Act. 

  
 20 

 (vii) Counterparty is not, and after giving effect to the transactions
contemplated hereby will not be, required to register as, an “investment company” as such term is defined in the Investment Company Act of 1940, as amended. 

(viii) On each of the Trade Date and the Premium Payment Date, Counterparty is not “insolvent” (as such term is
defined under Section 101(32) of the U.S. Bankruptcy Code (Title 11 of the United States Code) (the “Bankruptcy Code”)) and Counterparty would be able to purchase the Number of Shares in compliance with the laws of the
jurisdiction of Counterparty’s incorporation. 
 (ix) The representations and warranties of Counterparty set
forth in Section 3 of the Agreement and Section 1 of the Purchase Agreement, dated as of June 11, 2013, among Goldman, Sachs & Co. and Credit Suisse Securities (USA) LLC as the Initial Purchasers (as defined in the Purchase
Agreement) and Counterparty (the “Purchase Agreement”) are true and correct as of the Trade Date and the Effective Date and are hereby deemed to be repeated to Dealer as if set forth herein. 

(x) No state or local law, rule, regulation or regulatory order in the State of Delaware, California, or any other
jurisdiction in which Counterparty engages in material business activities, applicable to the Shares would give rise to any reporting, consent, registration or other requirement (including without limitation a requirement to obtain prior approval
from any person or entity) as a result of Dealer or its affiliates owning or holding (however defined) Shares. 

(xi) Counterparty (i) is an “institutional account” as defined in FINRA Rule 4512(c), (ii) is capable
of evaluating investment risks independently, both in general and with regard to all transactions and investment strategies involving a security or securities, and will exercise independent judgment in evaluating the recommendations of Dealer or its
associated persons, and (iii) will notify Dealer if any of the statements contained in clause (i) or (ii) of this Section 7(a)(xi) ceases to be true. 
 (b) Each of Dealer and Counterparty agrees and represents that it is an “eligible contract participant” as defined in Section 1a(18) of the U.S. Commodity Exchange Act, as amended, and is
entering into the Transaction as principal (and not as agent or in any other capacity, fiduciary or otherwise) and not for the benefit of any third party. 
 (c) Each of Dealer and Counterparty acknowledges that the offer and sale of the Transaction to it is intended to be exempt from registration under the Securities Act of 1933, as amended (the
“Securities Act”), by virtue of Section 4(a)(2) thereof. Accordingly, Counterparty represents and warrants to Dealer that (i) it has the financial ability to bear the economic risk of its investment in the Transaction and
is able to bear a total loss of its investment and its investments in and liabilities in respect of the Transaction, which it understands are not readily marketable, are not disproportionate to its net worth, and it is able to bear any loss in
connection 

  
 21 

 
with the Transaction, including the loss of its entire investment in the Transaction, (ii) it is an “accredited investor” as that term is defined in Regulation D as promulgated
under the Securities Act, (iii) it is entering into the Transaction for its own account and without a view to the distribution or resale thereof, (iv) the assignment, transfer or other disposition of the Transaction has not been and will
not be registered under the Securities Act and is restricted under this Confirmation, the Securities Act and state securities laws, and (v) its financial condition is such that it has no need for liquidity with respect to its investment in the
Transaction and no need to dispose of any portion thereof to satisfy any existing or contemplated undertaking or indebtedness and is capable of assessing the merits of and understanding (on its own behalf or through independent professional advice),
and understands and accepts, the terms, conditions and risks of the Transaction. 
 (d) Each of Dealer and Counterparty agrees
and acknowledges that Dealer is a “financial institution,” “swap participant” and “financial participant” within the meaning of Sections 101(22), 101(53C) and 101(22A) of the Bankruptcy Code. The parties hereto further
agree and acknowledge (A) that this Confirmation is (i) a “securities contract,” as such term is defined in Section 741(7) of the Bankruptcy Code, with respect to which each payment and delivery hereunder or in connection
herewith is a “termination value,” “payment amount” or “other transfer obligation” within the meaning of Section 362 of the Bankruptcy Code and a “settlement payment” within the meaning of
Section 546 of the Bankruptcy Code, and (ii) a “swap agreement,” as such term is defined in Section 101(53B) of the Bankruptcy Code, with respect to which each payment and delivery hereunder or in connection herewith is a
“termination value,” “payment amount” or “other transfer obligation” within the meaning of Section 362 of the Bankruptcy Code and a “transfer” within the meaning of Section 546 of the Bankruptcy
Code, and (B) that Dealer is entitled to the protections afforded by, among other sections, Sections 362(b)(6), 362(b)(17), 362(b)(27), 362(o), 546(e), 546(g), 546(j), 548(d)(2), 555, 560 and 561 of the Bankruptcy Code. 

(e) As a condition to the effectiveness of the Transaction, Counterparty shall deliver to Dealer (i) an incumbency certificate,
dated as of the Trade Date, of Counterparty in customary form and (ii) an opinion of counsel, dated as of the Trade Date and reasonably acceptable to Dealer in form and substance, with respect to the due incorporation, existence and good
standing of Issuer in Delaware, its qualifications as a foreign corporation and good standing in California, the due authorization, execution and delivery of this Confirmation, and the absence of conflict of the execution, delivery and performance
of this Confirmation with any material agreement required to be filed as an exhibit to Issuer’s Annual Report on Form 10-K and Issuer’s charter documents. 
 (f) Counterparty understands that notwithstanding any other relationship between Counterparty and Dealer and its affiliates, in connection with this Transaction and any other over-the-counter derivative
transactions between Counterparty and Dealer or its affiliates, Dealer or its affiliates is acting as principal and is not a fiduciary or advisor in respect of any such transaction, including any entry, exercise, amendment, unwind or termination
thereof. 
 (g) Counterparty represents and warrants that it has received, read and understands the OTC Options Risk
Disclosure Statement and a copy of the most recent disclosure pamphlet prepared by The Options Clearing Corporation entitled “Characteristics and Risks of Standardized Options”. 

  
 22 

 (h) Each party acknowledges and agrees to be bound by the Conduct Rules of the Financial
Industry Regulatory Authority, Inc. applicable to transactions in options, and further agrees not to violate the position and exercise limits set forth therein. 
 8. Other Provisions: 
 (a) Right to Extend. Dealer may postpone any Exercise
Date or Settlement Date or any other date of valuation or delivery by Dealer, with respect to some or all of the relevant Options (in which event the Calculation Agent shall make appropriate adjustments to the Delivery Obligation), if Dealer
determines, in its reasonable discretion, that such extension is reasonably necessary or appropriate to preserve Dealer’s hedging or hedge unwind activity hereunder in light of existing liquidity conditions in the cash market, the stock borrow
market or other relevant market or to enable Dealer to effect purchases of Shares or Share Termination Delivery Units in connection with its hedging, hedge unwind or settlement activity hereunder in a manner that would, if Dealer were Counterparty
or an affiliated purchaser of Counterparty, be in compliance with applicable legal, regulatory or self-regulatory requirements, or with related policies and procedures applicable to Dealer; provided that any such extension pursuant to this
clause shall not exceed 80 Exchange Business Days. 
 (b) Additional Termination Events. The occurrence of (i) an
event of default with respect to Counterparty under the terms of the Convertible Securities as set forth in Section 6.01(a) of the Indenture, or (ii) an Amendment Event, in each case, shall constitute an Additional Termination Event with
respect to which the Transaction is the sole Affected Transaction and Counterparty is the sole Affected Party, and Dealer shall be the party entitled to designate an Early Termination Date pursuant to Section 6(b) of the Agreement and to
determine the amount payable pursuant to Section 6(e) of the Agreement. 
 “Amendment Event” means that
Counterparty amends, modifies, supplements, waives or obtains a waiver in respect of any term of the Indenture or the Convertible Securities governing the principal amount, coupon, maturity, repurchase obligation of Counterparty, any term relating
to conversion of the Convertible Securities (including changes to the conversion price, conversion settlement dates or conversion conditions), or any term that would require consent of the holders of not less than 100% of the principal amount of the
Convertible Securities to amend, in each case without the prior consent of Dealer. 
 (c) Alternative Calculations and
Payment on Early Termination and on Certain Extraordinary Events. If at any time an Early Termination Date occurs and Dealer would be required to make a payment pursuant to Section 6 of the Agreement or an Extraordinary Event occurs and
Dealer would be required to make a payment pursuant to Article 12 of the Equity Definitions (a “Payment Obligation”), Counterparty shall have the right, in its sole discretion, to require Dealer to satisfy any such Payment
Obligation by the Share Termination Alternative (as defined below) by giving irrevocable telephonic notice to Dealer, confirmed in writing within two Scheduled Trading Days, no later than 9:30 a.m. New York City time on the relevant merger date,
Announcement Date, Early Termination Date or date of cancellation or termination in 

  
 23 

 
respect of an Extraordinary Event, as applicable (“Notice of Share Termination”); provided that if Counterparty does not elect to require Dealer to satisfy its Payment
Obligation by the Share Termination Alternative, Dealer shall have the right, in its reasonable discretion, to elect to satisfy its Payment Obligation by the Share Termination Alternative, notwithstanding Counterparty’s failure to elect or
election to the contrary; and provided further that Counterparty shall not have the right to so elect (but, for the avoidance of doubt, Dealer shall have the right to so elect) in the event of (i) an Insolvency, a Nationalization or a
Merger Event, in each case, in which the consideration or proceeds to be paid to holders of Shares consists solely of cash or (ii) an Event of Default in which Counterparty is the Defaulting Party or a Termination Event in which Counterparty is
the Affected Party, which Event of Default or Termination Event resulted from an event or events within Counterparty’s control. Upon such Notice of Share Termination, the following provisions shall apply on the Scheduled Trading Day immediately
following the relevant merger date, Announcement Date, Early Termination Date or date of cancellation or termination in respect of an Extraordinary Event, as applicable: 

 

			
	Share Termination Alternative:	  	Applicable and means that Dealer shall deliver to Counterparty the Share Termination Delivery Property on the date on which the Payment Obligation would otherwise be due pursuant
to “Consequences of Merger Events” above or Section 12.2, 12.6, 12.7 or 12.9 of the Equity Definitions or Section 6(d)(ii) of the Agreement, as applicable, or such later date as the Calculation Agent may reasonably determine (the
“Share Termination Payment Date”), in satisfaction of the Payment Obligation.
		
	Share Termination Delivery	  	
	Property:	  	A number of Share Termination Delivery Units, as calculated by the Calculation Agent, equal to the Payment Obligation divided by the Share Termination Unit Price. The Calculation
Agent shall adjust the Share Termination Delivery Property by replacing any fractional portion of the aggregate amount of a security therein with an amount of cash equal to the value of such fractional security based on the values used to calculate
the Share Termination Unit Price.
		
	Share Termination Unit Price:	  	The value of property contained in one Share Termination Delivery Unit on the date such Share Termination Delivery Units are to be delivered as Share Termination Delivery
Property, as determined by the Calculation Agent in its discretion by commercially reasonable means and notified by the Calculation Agent to Dealer at the time of notification of the Payment Obligation.
		
	Share Termination Delivery	  	
	Unit:	  	In the case of a Termination Event, Event of Default, Delisting or Additional Disruption Event, one Share or, in the case of an Insolvency, Nationalization or Merger
Event,

  
 24 

			
		  	one Share or a unit consisting of the number or amount of each type of property received by a holder of one Share (without consideration of any requirement to pay cash or other
consideration in lieu of fractional amounts of any securities) in such Insolvency, Nationalization or Merger Event, as applicable. If such Insolvency, Nationalization or Merger Event involves a choice of consideration to be received by holders, such
holder shall be deemed to have elected to receive the maximum possible amount of cash.
		
	Failure to Deliver:	  	Applicable
		
	Other Applicable Provisions:	  	If Share Termination Alternative is applicable, the provisions of Sections 9.8, 9.9, 9.10 and 9.11 of the Equity Definitions will be applicable as if “Physical
Settlement” applied to the Transaction, except that all references to “Shares” shall be read as references to “Share Termination Delivery Units”; provided that the Representation and Agreement contained in Section
9.11 of the Equity Definitions shall be modified by excluding any representations therein relating to restrictions, obligations, limitations or requirements under applicable securities laws as a result of the fact that Counterparty is the issuer of
any Share Termination Delivery Units (or any part thereof).

 (d) Disposition of Hedge Shares. Counterparty hereby agrees that if, in the good faith reasonable
judgment of Dealer, based on the advice of counsel, the Shares (the “Hedge Shares”) acquired by Dealer for the purpose of hedging its obligations pursuant to the Transaction cannot be sold in the U.S. public market by Dealer without
registration under the Securities Act, Counterparty shall, at its election: (i) in order to allow Dealer to sell the Hedge Shares in a registered offering, make available to Dealer an effective registration statement under the Securities Act to
cover the resale of such Hedge Shares and (A) enter into an agreement, in form and substance satisfactory to Dealer, substantially in the form of an underwriting agreement for a registered offering of equity securities of companies of
comparable size, maturity and lines of business, (B) provide accountant’s “comfort” letters in customary form for registered offerings of equity securities, (C) provide disclosure opinions of nationally recognized outside
counsel to Counterparty as are customarily requested in connection with underwritten follow-on offers of equity securities of companies of comparable size, maturity and lines of business, (D) provide other customary opinions, certificates and
closing documents customary in form for registered offerings of equity securities of companies of comparable size, maturity and lines of business and (E) afford Dealer a reasonable opportunity to conduct a “due diligence”
investigation with respect to Counterparty customary in scope for underwritten offerings of equity securities of companies of comparable size, maturity and lines of business; provided, however, that if Counterparty elects clause
(i) above but the items referred to therein are not completed in a timely manner, or if Dealer, in its sole commercially reasonable discretion, is not satisfied with access to due diligence materials, the results of its due diligence
investigation, or the procedures and documentation for the registered offering referred to above, then clause (ii) or clause (iii) of 

  
 25 

 
this Section 8(d) shall apply at the election of Counterparty; (ii) in order to allow Dealer to sell the Hedge Shares in a private placement, enter into a private placement agreement
substantially similar to private placement purchase agreements customary for private placements of equity securities of companies of comparable size, maturity and lines of business, in form and substance reasonably satisfactory to Dealer, including
customary representations, covenants, blue sky and other governmental filings and/or registrations, indemnities to Dealer, due diligence rights (for Dealer or any designated buyer of the Hedge Shares from Dealer), opinions and certificates and such
other documentation as is customary for private placements agreements of companies of comparable size, maturity and lines of business, all reasonably acceptable to Dealer (in which case, the Calculation Agent shall make any adjustments to the terms
of the Transaction that are necessary, in its reasonable judgment, to compensate Dealer for any discount from the public market price of the Shares incurred on the sale of Hedge Shares in a private placement); or (iii) purchase the Hedge Shares
from Dealer at the Relevant Price on such Exchange Business Days, and in the amounts, requested by Dealer. This Section 8(d) shall survive the termination, expiration or early unwind of the Transaction. 

(e) Repurchase and Conversion Rate Adjustment Notices. Counterparty shall, at least five Scheduled Trading Days prior to any day
on which Counterparty intends to effect any repurchase of Shares or consummates or otherwise engages in any transaction or event (a “Conversion Rate Adjustment Event”) that could reasonably be expected to lead to an increase in the
Conversion Rate, give Dealer a written notice of such repurchase or Conversion Rate Adjustment Event (a “Repurchase Notice”) on such day if, following such repurchase or Conversion Rate Adjustment Event, the Notice Percentage would
reasonably be expected to be (i) greater than 7.0% and (ii) greater by 0.5% than the Notice Percentage included in the immediately preceding Repurchase Notice (or, in the case of the first such Repurchase Notice, greater than the Notice
Percentage as of the date hereof). The “Notice Percentage” as of any day is the fraction, expressed as a percentage, the numerator of which is the Number of Shares and the denominator of which is the number of Shares outstanding on
such day. In the event that Counterparty fails to provide Dealer with a Repurchase Notice on the day and in the manner specified in this Section 8(e) then Counterparty agrees to indemnify and hold harmless Dealer, its affiliates and their
respective directors, officers, employees, agents and controlling persons (Dealer and each such person being an “Indemnified Party”) from and against any and all losses (including losses relating to the Dealer’s hedging
activities as a consequence of becoming, or of the risk of becoming, a Section 16 “insider”, including without limitation, any forbearance from hedging activities or cessation of hedging activities and any losses in connection
therewith with respect to this Transaction), claims, damages and liabilities (or actions in respect thereof), joint or several, to which such Indemnified Party may become subject under applicable securities laws, including without limitation,
Section 16 of the Exchange Act or under any U.S. state or federal law, regulation or regulatory order, relating to or arising out of such failure. If for any reason the foregoing indemnification is unavailable to any Indemnified Party or
insufficient to hold harmless any Indemnified Party, then Counterparty shall contribute, to the maximum extent permitted by law, to the amount paid or payable by the Indemnified Party as a result of such loss, claim, damage or liability. In
addition, Counterparty will reimburse any Indemnified Party for all reasonable expenses (including reasonable counsel fees and expenses) as they are incurred (after notice to Counterparty) in connection with the investigation of, preparation for or
defense or settlement of any pending or threatened claim or any action, suit or proceeding arising therefrom, whether or not such Indemnified Party is a party thereto and whether or not such 

  
 26 

 
claim, action, suit or proceeding is initiated or brought by or on behalf of Counterparty. This indemnity shall survive the completion of the Transaction contemplated by this Confirmation and any
assignment and delegation of the Transaction made pursuant to this Confirmation or the Agreement shall inure to the benefit of any permitted assignee of Dealer. 
 (f) Transfer and Assignment. Either party may transfer or assign any of its rights or obligations under the Transaction with the prior written consent of the non-transferring party, such consent
not to be unreasonably withheld or delayed; provided that Dealer may transfer or assign without any consent of Counterparty its rights and obligations hereunder, in whole or in part, to (A) any affiliate of Dealer (1) whose
obligation would be guaranteed by Dealer or by [Name of Dealer Parent]9, (2) or whose credit quality would be equivalent to Dealer’s, or (B) any person (including any affiliate of Dealer whose obligations are not guaranteed in the manner described in clause
(A)) or any person whose obligations would be guaranteed by a person (a “Designated Transferee”), in either case, of credit quality equivalent to Dealer’s (or its guarantor’s), provided however that in no event
shall the credit rating of the Designated Transferee or of its guarantor (whichever is higher) be lower than [—]10 from Moody’s Investor Service, Inc. or its successor or
[—]11
from Standard and Poor’s Rating Group, Inc. or its successor; provided further that Dealer will notify Counterparty prior to any proposed transfer or assignment to a Designated Transferee. If at any time at which (1) the Equity
Percentage exceeds 8.0% or (2) Dealer, Dealer Group (as defined below) or any person whose ownership position would be aggregated with that of Dealer or Dealer Group (Dealer, Dealer Group or any such person, a “Dealer Person”)
under Section 203 of the Delaware General Corporation Law or other federal, state or local law, rule, regulation or regulatory order or organizational documents or contracts of Counterparty applicable to ownership of Shares (“Applicable
Restrictions”), owns, beneficially owns, constructively owns, controls, holds the power to vote or otherwise meets a relevant definition of ownership in excess of a number of Shares equal to (x) the number of Shares that would give
rise to reporting, registration, filing or notification obligations or other requirements (including obtaining prior approval by a state or federal regulator) of a Dealer Person under Applicable Restrictions and with respect to which such
requirements have not been met or the relevant approval has not been received minus (y) 1% of the number of Shares outstanding on the date of determination (either such condition described in clause (1) or (2), an “Excess Ownership
Position”), Dealer, in its reasonable discretion, is unable to effect a transfer or assignment to a third party in accordance with the requirements set forth above after its commercially reasonable efforts on pricing and terms and within a
time period reasonably acceptable to Dealer such that an Excess Ownership Position no longer exists, Dealer may designate any Scheduled Trading Day as an Early Termination Date with respect to a portion (the “Terminated Portion”) of
the Transaction, such that an Excess Ownership Position no longer exists following such partial termination. In the event that Dealer so designates an Early Termination Date with respect to a portion of the Transaction, a payment or delivery shall
be made pursuant to Section 6 of the Agreement and Section 8(c) of this Confirmation as if (i) an Early Termination Date had been designated in respect of a Transaction having terms identical to 

 
  

	9 	To be provided by Dealer. 

	10 	To be referenced to a credit rating of a relevant dealer. 

	11 	 To be referenced to a credit rating of a relevant dealer. 

  
 27 

 
the Terminated Portion of the Transaction, (ii) Counterparty were the sole Affected Party with respect to such partial termination, (iii) such portion of the Transaction were the only
Terminated Transaction and (iv) Dealer were the party entitled to designate an Early Termination Date pursuant to Section 6(b) of the Agreement and to determine the amount payable pursuant to Section 6(e) of the Agreement. The
“Equity Percentage” as of any day is the fraction, expressed as a percentage, (A) the numerator of which is the number of Shares that Dealer and any of its affiliates subject to aggregation with Dealer for purposes of the
“beneficial ownership” test under Section 13 of the Exchange Act and all persons who may form a “group” (within the meaning of Rule 13d-5(b)(1) under the Exchange Act) with Dealer (collectively, “Dealer
Group”) “beneficially own” (within the meaning of Section 13 of the Exchange Act) without duplication on such day and (B) the denominator of which is the number of Shares outstanding on such day. In the case of a
transfer or assignment by Counterparty of its rights and obligations hereunder and under the Agreement, in whole or in part (any such Options so transferred or assigned, the “Transfer Options”), to any party, withholding of such
consent by Dealer shall not be considered unreasonable if such transfer or assignment does not meet the reasonable conditions that Dealer may impose including, but not limited, to the following conditions: 

(A) With respect to any Transfer Options, Counterparty shall not be released from its notice and indemnification
obligations pursuant to Section 8(e) or any obligations under Section 2 (regarding Extraordinary Events) or 8(d) of this Confirmation; 
 (B) Any Transfer Options shall only be transferred or assigned to a third party that is a U.S. person (as defined in the Internal Revenue Code of 1986, as amended); 

(C) Such transfer or assignment shall be effected on terms, including any reasonable undertakings by such third party
(including, but not limited to, undertakings with respect to compliance with applicable securities laws in a manner that, in the reasonable judgment of Dealer, will not expose Dealer to material risks under applicable securities laws) and execution
of any documentation and delivery of customary legal opinions with respect to securities laws and other matters by such third party and Counterparty as are reasonably requested and reasonably satisfactory to Dealer; 

(D) Dealer will not, as a result of such transfer and assignment, be required to pay the transferee on any payment date an
amount under Section 2(d)(i)(4) of the Agreement greater than an amount that Dealer would have been required to pay to Counterparty in the absence of such transfer and assignment; 

(E) An Event of Default, Potential Event of Default or Termination Event will not occur as a result of such transfer and
assignment; 
 (F) Without limiting the generality of clause (B), Counterparty shall have caused the transferee
to make such Payee Tax Representations and to provide such tax documentation as may be reasonably requested by Dealer to permit Dealer to determine that results described in clauses (D) and (E) will not occur upon or after such transfer
and assignment; and 

  
 28 

 (G) Counterparty shall be responsible for all reasonable costs and expenses,
including reasonable counsel fees, incurred by Dealer in connection with such transfer or assignment. 
 (g) Staggered
Settlement. Dealer may, by notice to Counterparty prior to any Settlement Date (a “Nominal Settlement Date”), elect to deliver any Shares due to be delivered on one or more dates (each, a “Staggered Settlement
Date”) or at two or more times on the Nominal Settlement Date as follows: 
 (i) in
such notice, Dealer will specify to Counterparty the related Staggered Settlement Dates (each of which will be on or prior to the 50th Exchange Business Day after such Nominal Settlement Date, but not prior to the earlier of the relevant Conversion Date
and the first day of the relevant Settlement Averaging Period) or delivery times and how it will allocate the Shares it is required to deliver under “Delivery Obligation” (above) among the Staggered Settlement Dates or delivery times; and

 (ii) the aggregate number of Shares that Dealer will deliver to Counterparty hereunder on all such Staggered
Settlement Dates and delivery times will equal the number of Shares that Dealer would otherwise be required to deliver on such Nominal Settlement Date. 
 (h) Disclosure. Effective from the date of commencement of discussions concerning the Transaction, Counterparty and each of its employees, representatives, or other agents may disclose to any and
all persons, without limitation of any kind, the tax treatment and tax structure of the Transaction and all materials of any kind (including opinions or other tax analyses) that are provided to Counterparty relating to such tax treatment and tax
structure. 
 (i) No Netting and Set-off. The provisions of Section 2(c) of the Agreement shall not apply to the
Transaction. Each party waives any and all rights it may have to set-off delivery or payment obligations it owes to the other party under the Transaction against any delivery or payment obligations owed to it by the other party, whether arising
under the Agreement, under any other agreement between parties hereto, by operation of law or otherwise. 
 (j) Equity
Rights. Dealer acknowledges and agrees that this Confirmation is not intended to convey to it rights with respect to the Transaction that are senior to the claims of common stockholders in the event of Counterparty’s bankruptcy. For the
avoidance of doubt, the parties agree that the preceding sentence shall not apply at any time other than during Counterparty’s bankruptcy to any claim arising as a result of a breach by Counterparty of any of its obligations under this
Confirmation or the Agreement. For the avoidance of doubt, the parties acknowledge that the obligations of Counterparty under this Confirmation are not secured by any collateral that would otherwise secure the obligations of Counterparty herein
under or pursuant to any other agreement. 
 (k) Early Unwind. In the event the sale by Counterparty of the Convertible
Securities is not consummated pursuant to the Purchase Agreement for any reason by the close of business in New York on June 17, 2013 (or such later date as agreed upon by the parties, which in no event shall be later than June 24, 2013)
(June 17, 2013 or such later date being the “Early 

  
 29 

 
Unwind Date”), the Transaction shall automatically terminate (the “Early Unwind”) on the Early Unwind Date and the Transaction and all of the respective rights and
obligations of Dealer and Counterparty hereunder shall be cancelled and terminated and Counterparty shall pay to Dealer, other than in cases involving a breach of the Purchase Agreement by Dealer as Initial Purchaser (as defined in the Purchase
Agreement), an amount in cash equal to the aggregate amount of costs and expenses relating to the unwinding of Dealer’s hedging activities in respect of the Transaction (including market losses incurred in reselling any Shares purchased by
Dealer or its affiliates in connection with such hedging activities, unless Counterparty agrees to purchase any such Shares at the cost at which Dealer purchased such Shares) or, at the election of Counterparty, deliver to Dealer Shares with a value
equal to such amount, as determined by the Calculation Agent, in which event the parties shall enter into customary and commercially reasonable documentation relating to the registered or exempt resale of such Shares. Following such termination,
cancellation and payment or delivery, each party shall be released and discharged by the other party from, and agrees not to make any claim against the other party with respect to, any obligations or liabilities of either party arising out of, and
to be performed in connection with, the Transaction either prior to or after the Early Unwind Date. Dealer and Counterparty represent and acknowledge to the other that upon an Early Unwind and following the payment referred to above, all obligations
with respect to the Transaction shall be deemed fully and finally discharged. 
 (l) Illegality. The parties agree that,
for the avoidance of doubt, for purposes of Section 5(b)(i) of the Agreement, “any applicable law” shall include the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, any rules and regulations promulgated thereunder
and any similar law or regulation, without regard to Section 739 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 or any similar legal certainty provision in any legislation enacted, or rule or regulation promulgated, on
or after the Trade Date, and the consequences specified in the Agreement, including without limitation, the consequences specified in Section 6 of the Agreement, shall apply to any Illegality arising from any such act, rule or regulation.

 (m) Payments by Counterparty upon Early Termination. The parties hereby agree that, notwithstanding anything to the
contrary herein, in the Definitions or in the Agreement, following the payment of the Premium, in the event that an Early Termination Date (whether as a result of an Event of Default or a Termination Event) occurs or is designated with respect to
the Transaction or the Transaction is terminated or cancelled pursuant to Article 12 of the Equity Definitions and, as a result, Counterparty would owe to Dealer an amount calculated under Section 6(e) of the Agreement or Article 12 of the
Equity Definitions, such amount shall be deemed to be zero. 
  

	 	(l)	[Reserved] / [Role of Agent]. 

(n) Governing Law. THE AGREEMENT, THIS CONFIRMATION AND ALL MATTERS ARISING IN CONNECTION WITH THE
AGREEMENT AND THIS CONFIRMATION SHALL BE GOVERNED BY, AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK (WITHOUT REFERENCE TO ITS CHOICE OF LAW DOCTRINE, OTHER THAN TITLE 14 OF THE NEW YORK GENERAL OBLIGATIONS LAW).
THE PARTIES HERETO 

  
 30 

 
IRREVOCABLY SUBMIT TO THE EXCLUSIVE JURISDICTION OF THE FEDERAL AND STATE COURTS LOCATED IN THE BOROUGH OF MANHATTAN, IN THE CITY OF NEW YORK IN ANY SUIT OR PROCEEDING ARISING OUT OF OR RELATING
TO THE AGREEMENT, THIS CONFIRMATION OR ANY TRANSACTIONS CONTEMPLATED HEREBY. 
 (o) Waiver of Jury Trial. EACH
PARTY HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHTS TO TRIAL BY JURY WITH RESPECT TO ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THE AGREEMENT, THIS CONFIRMATION OR ANY TRANSACTIONS CONTEMPLATED HEREBY.  

(p) Amendment. This Confirmation and the Agreement may not be modified, amended or supplemented, except in a written instrument
signed by Counterparty and Dealer. 
 (q) Counterparts. This Confirmation may be executed in several counterparts, each
of which shall be deemed an original but all of which together shall constitute one and the same instrument. 
 [Rest of the
page intentionally left blank – Signatures on following pages] 

  
 31 

 [Counterparty hereby agrees (a) to check this Confirmation
carefully and immediately upon receipt so that errors or discrepancies can be promptly identified and rectified and (b) to confirm that the foregoing (in the exact form provided by Dealer) correctly sets forth the terms of the agreement between
Dealer and Counterparty with respect to the Transaction, by manually signing this Confirmation or this page hereof as evidence of agreement to such terms and providing the other information requested herein and immediately returning an executed copy
to [                    ], Facsimile No.
[                    
]]12. 

 

			
	Yours faithfully,
	
	[DEALER]
		
	By:	 	  

	Name:	 	
	Title:	 	

  

			
	Agreed and Accepted By:
	
	CORNERSTONE ONDEMAND, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	

  
  

	12 	 To be adapted for each Dealer. 

  
 32

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