Document:

Exhibit
4.8.4

 

	 	Dated	13
    May 2019

 

DEED
OF PRIORITY AND SUBORDINATION

 

NAKED
BRAND GROUP LIMITED

(Debtor)

 

BANK
OF NEW ZEALAND

(Senior
Creditor)

 

and

 

ST.
GEORGE INVESTMENTS LLC

(Junior
Creditor)

 

 

    	 

     

    

 

CONTENTS

 

	1.	INTERPRETATION	3
	2.	PRIORITY
    - ppsa	7
	3.	PRIORITY	8
	4.	OTHER
    PROPERTY	8
	5.	PARAMOUNTCY	8
	6.	SUBORDINATION	9
	7.	sale
    and enforcement	13
	8.	ASSIGNMENT	14
	9.	POWER
    OF ATTORNEY	14
	10.	REPRESENTATIONS	15
	11.	UNDERTAKINGS	15
	12.	NOTICES	17
	13.	GENERAL	18

 

    	 

     

    

 

THIS
DEED is dated              13 May 2019

 

PARTIES

 

	1.	NAKED
    BRAND GROUP LIMITED (a company registered in Australia with ACN 619 054 938) (the “Debtor”); 
	 	 
	2.	BANK
    OF NEW ZEALAND (a company registered in New Zealand with company number 428849) (the “Senior Creditor”);
    and
	 	 
	3.	ST.
    GEORGE INVESTMENTS LLC (a company registered in Utah, United States of America with entity number 8931086-0160) (the “Junior
    Creditor”). 

 

BACKGROUND

 

	A.	Financial
    accommodation has been made to Bendon Limited by the Senior Creditor and to the Debtor by the Junior Creditor.
	 	 
	B.	The
    Senior Security has been granted in respect of, among other things, Bendon Limited’s obligations to the Senior Creditor
    and the Junior Security has been granted in respect of the Debtor’s obligations to the Junior Creditor.
	 	 
	C.	The
    Debtor and the Junior Creditor have agreed in favour of the Senior Creditor that, until the Termination Date, the Junior Debt
    is to be subordinated to the Senior Debt and the Junior Security is to be subordinated to the Senior Security, in each case
    on the terms set out in this Deed. 

 

TERMS
OF THIS DEED

 

	1.	INTERPRETATION
	 	 
	1.1	Definitions:
    In this Deed, unless the context otherwise requires:

 

“Business
Day” means a day (other than a Saturday or a Sunday) on which banks are open for business in Auckland.

 

“Documents”
means, in relation to:

 

(a)
the Senior Creditor, the Senior Documents; or

 

(b)
the Junior Creditor, the Junior Documents.

 

“Enforcement”
means the exercise by a Secured Party of any right available to it by way of enforcement or realisation of a security interest
under its Security (including, without limitation, service of a notice under section 119 of the Property Law Act 2007), appointment
of a receiver, exercise of a right of set-off or claiming, proving or accepting payment in a liquidation or administration of,
the Debtor.

 

“Enforcement
Date” means, unless the Secured Parties agree in writing to the contrary, the first day on which a Secured Party becomes
entitled to exercise any right of Enforcement available to it under its Security.

 

“Facility
Agreement” means the Senior Facility Agreement or the Junior Facility Agreement, as the context requires.

 

    	Page 3

     

    

 

“Junior
Debt” means all present and future liabilities and indebtedness of the Debtor to the Junior Creditor, absolute, contingent
or otherwise, whether or not matured, whether or not liquidated, and whether or not owed solely or jointly by the Debtor or to
the Junior Creditor solely or jointly, including without limitation (a) liabilities and indebtedness which the Junior Creditor
acquires by purchase, security assignment or otherwise, (b) interest (including any capitalised interest), (c) damages, (d) claims
for restitution, (e) costs and (f) any obligation under a guarantee or indemnity.

 

“Junior
Documents” means each Junior Facility Agreement and each Junior Security.

 

“Junior
Event of Default” means any default or event of default (howsoever defined or described) under any Junior Document.

 

“Junior
Facility Agreement” means the Junior Note Agreement, Junior Securities Purchase Agreement and all other loan facility
agreements, deeds or documents entered into at any time between (among others) the Junior Creditor and the Debtor and each other
document constituting or evidencing any financial accommodation made available by the Junior Creditor to the Debtor or the Junior
Debt from time to time.

 

“Junior
Redemption Payments” means the monthly redemption payments (of no more than USD$400,000.00) beginning on the date that
is seven months from the Effective Date (as that term is defined in the Junior Note Agreement) by the Debtor to the Junior Creditor
pursuant to the Junior Note Agreement.

 

“Junior
Security” means each guarantee or indemnity and each security interest granted by the Debtor in favour of the Junior
Creditor from time to time as security or support for the Junior Debt including, without limitation, the relevant guarantees (if
any) and securities described in Schedule 1.

 

“Junior
Note Agreement” means the ‘Secured Convertible Promissory Note’ dated on or about May 2019 between the Junior
Creditor (as lender) and the Debtor (as borrower).

 

“Junior
Securities Purchase Agreement” means the ‘Securities Purchase Agreement’ dated on or about May 2019 between
the Junior Creditor (as company) and the Debtor (as investor).

 

“Other
Property” means all of the Debtor’s assets and property, including any real property, but excluding the Personal
Property, that is subject to the Senior Security and the Junior Security, and includes any part of it.

 

“Personal
Property” means all personal property of the Debtor that is subject to the Senior Security and the Junior Security,
and includes any part of it.

 

“Pledged
Shares” means all of the shares held by the Debtor that, from time to time, are pledged or otherwise secured under Senior
Security from time to time, which includes for the avoidance of doubt, all shares held by the Debtor in Naked Brand Group, Inc.,
Naked Inc. and FOH Online Corp.

 

“PPSA”
means the Personal Property Securities Act 1999.

 

“PPSR”
means the Personal Property Securities Register (and the equivalent register in any other applicable jurisdiction).

 

“Secured
Debt” means, in relation to:

 

(a)
the Senior Creditor, the Senior Debt; or

 

(b)
the Junior Creditor, the Junior Debt.

 

    	Page 4

     

    

 

“Secured
Parties” means the Senior Creditor and the Junior Creditor (and “Secured Party” means either of them,
as the context requires).

 

“Secured
Property” means all Personal Property and Other Property.

 

“Security”
means, in relation to:

 

(a)
the Senior Creditor, the Senior Security; or

 

(b)
the Junior Creditor, the Junior Security,

 

and
“Securities” means the Senior Security and the Junior Security together.

 

“Senior
Debt” means all present and future liabilities and indebtedness of the Debtor to the Senior Creditor, absolute, contingent
or otherwise, whether or not matured and whether or not liquidated, including without limitation (a) any liability and indebtedness
documented under a Senior Document (b) liabilities which the Senior Creditor acquires by purchase, security assignment or otherwise,
(c) interest (including any capitalised interest), (d) damages, (e) claims for restitution and (f) costs.

 

“Senior
Document” means each Senior Facility Agreement and each other ‘Transaction Document’ (however defined or
described) in the Senior Facility Agreement including, without limitation, each Senior Security.

 

“Senior
Event of Default” means any event of default (howsoever described) under any Senior Document.

 

“Senior
Event of Review” means any event of review (howsoever described) under any Senior Document.

 

“Senior
Facility Agreement” means the Facility Agreement dated 27 June 2016 (as amended from time to time) between, among others,
Bendon Limited (as initial borrower) and the Debtor (as initial guarantor), and all other loan facility agreement(s) between (among
others) the Senior Creditor and the Debtor from time to time and also includes each other document evidencing the provision of,
or setting out the terms that apply to, any Senior Debt (of whatever nature) made or to be made available by the Senior Creditor
to the Debtor from time to time (howsoever documented).

 

“Senior
Potential Event of Default” means any potential event of default (howsoever described) under any Senior Document.

 

“Senior
Security” means each guarantee or indemnity and each security interest granted by the Debtor or any other party in favour
of the Senior Creditor from time to time as security or support for the Senior Debt including, without limitation, the relevant
security described in Schedule 1, and any other document which constitutes a ‘Security Document’ as defined in the
Senior Facility Agreement.

 

“Termination
Date” means, subject to clause 13.5, the date upon which the Senior Creditor confirms in writing to the Debtor that
it (i) has received final payment in full of all the Senior Debt and no circumstances exist which would cause it to believe on
reasonable grounds that any amount received in payment or repayment of the Senior Debt may be avoided or required to be paid or
refunded to a liquidator or similar person and (ii) is satisfied that it is not under any actual or contingent obligation to provide
any future financial accommodation to the Debtor.

 

    	Page 5

     

    

 

	1.2	Construction
    of certain references: In this Deed, unless the context otherwise requires, any reference to: 

 

a
Senior Event of Default, Senior Potential Event of Default, Senior Event of Review or Junior Event of Default “continuing”
is a reference to that Senior Event of Default, Senior Potential Event of Default, Senior Event of Review or Junior Event of Default
having occurred and not having been waived by the Senior Creditor or remedied to the Senior Creditor’s satisfaction;

 

“costs”
include all costs, fees, commissions, charges, losses, fines, damages, expenses (including any break costs and legal fees and
disbursements on a solicitor and own client basis) and taxes, including any interest or taxes on such costs;

 

the
“dissolution” of a person also includes the winding-up or liquidation of that person and any equivalent or
analogous procedure under the law of any jurisdiction in which that person is incorporated, domiciled, resident, carries on business
or has assets;

 

a
“guarantee” also includes an indemnity, letter of credit, bond, third party security or any other obligation
(whatever called and of whatever nature) of any person to pay, purchase, provide funds (whether by the advance of money, the purchase
or subscription of shares or other securities, the purchase of assets or services or otherwise) for the payment or performance
of, indemnify against the consequences of default in the payment or performance of, or otherwise to be responsible or assume liability
for, any indebtedness or obligation of any other person;

 

“indebtedness”
includes any obligation (whether present or future, actual, absolute, prospective, contingent or otherwise, secured or unsecured,
and whether incurred alone, severally, jointly or jointly and severally, as principal or surety or otherwise) relating to the
payment or repayment of, or arising in connection with, money borrowed, raised or otherwise owing, or under any finance lease,
redeemable preference share, letter of credit, guarantee or indemnity or any financial accommodation whatsoever and “indebted”
shall be construed accordingly;

 

“law”
includes any common law, equity and statute;

 

“person”
includes any individual, any association of persons (whether corporate or not), any trust and any state or agency of a state (in
each case whether or not having separate legal personality);

 

“real
property” includes all freehold and leasehold land, all estates and interests in land and buildings, structures and
fixtures (including trade fixtures) for the time being on that land;

 

a
“receiver” includes a receiver and manager;

 

“security
interest” includes any security interest (as defined in section 17(1)(a) of the PPSA), interest in real property of
a security nature, assignment, mortgage, charge, pledge, lien, hypothecation, encumbrance and any deferred purchase, title retention,
finance lease, flawed asset arrangement, sale-and-repurchase or sale-and-leaseback arrangement and any other arrangement the economic
effect of which is to secure a creditor. It shall be deemed to also include any covenants and/or undertakings provided by third
parties under tripartite or similar deeds entered into in favour of a creditor in consideration of financial accommodation being
made available to the Debtor;

 

    	Page 6

     

    

 

“writing”
includes an email communication and any means of reproducing words in a tangible and visible form;

 

the
terms “at risk”, “collateral”, “default”, “financing change
statement”, “financing statement”, “perfection”, “personal property”,
“possession”, “proceeds” and “seriously misleading” each have the meaning
given to them in the PPSA;

 

any
document or agreement includes such document or agreement as amended, restated, modified, novated or replaced from time to time;

 

any
enactment includes that enactment as amended, modified and/or replaced from time to time;

 

a
party to this Deed or any other document or agreement includes a reference to that party’s successors and permitted assigns;
and

 

the
singular includes the plural and vice versa.

 

	1.3	References
    to legislation: In this Deed, any reference to New Zealand legislation (including the Companies Act 1993, Contract and
    Commercial Law Act 2017, PPSA and Property Law Act 2007) includes the equivalent legislation in any other applicable jurisdiction,
    including for the avoidance of doubt, Australia and Utah, United States of America.

 

	1.4	Headings:
    Headings and the table of contents shall be ignored in construing this Deed.
	 	 
	2.	PRIORITY
    - ppsa
	 	 
	2.1	Priorities:
    

 

	 	(a)	The
    Junior Security is subordinated to the Senior Security for the purposes of section 70 of the PPSA.
	 	 	 
	 	(b)	The
    Senior Creditor has priority over the Junior Creditor and may, in accordance with its Documents, take possession of and sell
    any Personal Property, subject to the terms of this Deed.

 

	2.2	PPSR
    – Junior Creditor: If required by the Senior Creditor, the Junior Creditor agrees to immediately register a financing
    change statement (or statements) on the PPSR to record the subordination of the Junior Security to the Senior Security under
    this Deed.
	 	 
	2.3	Perfection:
    If the interest of a third party in any Personal Property has priority over a Secured Party’s security interest in that
    Personal Property as a result of that Secured Party’s:

 

	 	(a)	failure
    to ensure its Security is continuously perfected in accordance with the PPSA; or
	 	 	 
	 	(b)	financing
    statement in relation to that Personal Property being held to be seriously misleading,

 

the
other Secured Party may, by written notice, exclude that Personal Property from the application of this Deed. After such exclusion,
the priority position of each Secured Party in relation to that Personal Property shall be determined in accordance with the PPSA
and nothing in these subordination and priority arrangements will oblige that other Secured Party to do or suffer anything inconsistent
with that other Secured Party’s priority position outside of these arrangements where that priority position is or would
be more favourable to that other Secured Party than under these arrangements.

 

    	Page 7

     

    

 

	2.4	Possession:
    If, at any time, a Secured Party has possession of any Personal Property, for the purposes of perfection and/or priority in
    relation to that Secured Party’s security interest, that Secured Party will not release or give up that possession to
    any person other than the Senior Creditor except as, but only to the extent, required:

 

	 	(a)	by
    law or order of a court of competent jurisdiction or with the written consent of the other Secured Party; or
	 	 	 
	 	(b)	to
    enforce its security (provided that such enforcement is permitted by, and conducted in accordance with the priority principles
    set out in, this Deed); or
	 	 	 
	 	(c)	in
    connection with a disposal (or a settlement agreement with any insurers in respect of the Secured Property) by the Debtor
    permitted under the Senior Documents.

 

	3.	PRIORITY
    
	 	 
	3.1	Order
    of priority: The Securities, and all moneys from time to time secured or intended to be secured under them, will, in respect
    of the Secured Property, rank in the following order of priority:

 

	 	(a)	the
    Senior Security will have first priority for all moneys from time to time secured or intended to be secured under it;
	 	 	 
	 	(b)	the
    Junior Security will have second priority for all moneys from time to time secured or intended to be secured under it; and
	 	 	 
	 	(c)	the
    surplus (if any) shall, subject to the rights of any subsequent security holder, be paid to the Debtor or as it shall direct.

 

	4.	OTHER
    PROPERTY
	 	 
	4.1	Priority
    instruments: The Junior Creditor will, if required by the Senior Creditor, immediately sign and consent to the registration
    in the relevant register of a priority instrument reflecting the priority in respect of any Other Property as set out in this
    Deed. 
	 	 
	5.	PARAMOUNTCY
	 	 
	5.1	Arrangements
    not affected: The subordination and priority arrangements in this Deed will have effect in each and every circumstance
    notwithstanding:

 

	 	(a)	any
    rule of law or equity to the contrary (including, but not limited to, any application of the rule in Clayton’s Case
    (1816) 1 Mer. 529 or the rule in Hopkinson v Rolt (1861) 9 H.L. Case. 514);
	 	 	 
	 	(b)	the
    dates of the Securities, their order of registration or the date upon which a Secured Party may receive notice of the other
    Secured Party’s Security;

 

    	Page 8

     

    

 

	 	(c)	any
    sums which may from time to time be paid to the credit of any account or accounts of the Debtor with a Secured Party;
	 	 	 
	 	(d)	the
    fact that any account or accounts of the Debtor with a Secured Party may at any time or times be or appear to be in credit;
	 	 	 
	 	(e)	any
    time or waiver granted to, or composition with the Debtor or other person;
	 	 	 
	 	(f)	the
    fact that any security interest is not enforceable, or any unenforceability, illegality or invalidity of an obligation of
    the Debtor to a Secured Party; 
	 	 	 
	 	(g)	the
    fact that any part of the money secured by a Security may be advanced or re-advanced after the date of the other Security
    or after notice of that Security to the other Secured Party or after money has been advanced under a Security; or
	 	 	 
	 	(h)	any
    other matter which might otherwise alter or postpone the priority of the Securities.

 

	5.2	Inconsistent
    provisions not to apply: 

 

	 	(a)	Any
    provision in the Junior Facility Agreement or any Security (including, without limitation, any clause relating to section
    92 of the Property Law Act 2007) or any other agreement or arrangement entered into before or after the date of this Deed
    which is inconsistent with these subordination and priority arrangements, will, for so long as this Deed is in effect, be
    superseded or varied to the extent necessary to give full effect to these arrangements. 
	 	 	 
	 	(b)	The
    Junior Creditor agrees that the failure by the Debtor to comply with any obligation or undertaking of the Debtor in a Junior
    Document or any other agreement or arrangement entered into before or after the date of this Deed which is restricted or subordinated
    pursuant to this Deed shall not constitute a Junior Event of Default, provided that nothing in this clause 5.2(b) will prevent
    the Junior Creditor from taking the action permitted under clause 6.5.

 

	5.3	Amendments
    to Senior Documents: Each of the Debtor and the Junior Creditor agrees for the benefit of the Senior Creditor that the
    provisions of this Deed shall not be impaired, discharged or otherwise affected by any amendment, restatement or supplement
    to any Senior Document. 
	 	 
	6.	SUBORDINATION
	 	 
	6.1	Subordination
    of Junior Debt: The Debtor and the Junior Creditor covenant for the benefit of the Senior Creditor that the Junior Debt
    is and shall at all times be subordinated and subject in point of priority and right of payment to the prior payment in full
    of the Senior Debt. For the avoidance of doubt, the Junior Creditor agrees that:

 

	 	(a)	for
    the purposes of section 313(3) of the Companies Act 1993, it is accepting a lower priority in respect of the Junior Debt than
    that which it might otherwise have under section 313; and
	 	 	 
	 	(b)	nothing
    in section 313 will prevent this Deed from having effect in accordance with its terms.

 

    	Page 9

     

    

 

	6.2	Debtor’s
    undertakings: Subject to clause 6.5, the Debtor covenants for the benefit of the Senior Creditor that it will not:

 

	 	(a)	directly
    or indirectly make any payment or distribution to, or to the order of, the Junior Creditor in respect of any of the Junior
    Debt or under any Junior Document (including, without limitation, under any guarantee or indemnity in relation to any Junior
    Document); 
	 	 	 
	 	(b)	create
    or suffer or permit to exist any security interest, guarantee, indemnity or other assurance against financial loss in respect
    of the Junior Debt, other than the Junior Security described in Schedule 1;
	 	 	 
	 	(c)	amend,
    supplement, novate or release any of the Junior Documents;
	 	 	 
	 	(d)	take
    or omit any action whereby the subordination contemplated by this Deed may be impaired or terminated; 
	 	 	 
	 	(e)	purchase
    or acquire any of the Junior Debt;
	 	 	 
	 	(f)	enter
    into any agreement (other than the Junior Facility Agreement and the Junior Security described in Schedule 1, in each case
    in the form reviewed by the Senior Creditor as at the date of this Deed) that constitutes or evidences any Junior Debt without
    the prior written consent of the Senior Creditor;
	 	 	 
	 	(g)	assign,
    sell, novate or transfer any of its rights or obligations in respect of any Junior Debt or under any Junior Document without
    the Senior Creditor’s prior written consent;
	 	 	 
	 	(h)	discharge
    any of the Junior Debt by way of set-off; or
	 	 	 
	 	(i)	make
    available to the Junior Creditor any financial accommodation (of whatever nature).

 

	6.3	Junior
    Creditor’s undertakings: Subject to clause 6.5, the Junior Creditor covenants for the benefit of the Senior Creditor
    that it will not:

 

	 	(a)	demand,
    accelerate, declare to be due and owing, ask or sue for, take or receive payment or distribution or take or accept any assets
    in respect of, all or any of the Junior Debt, directly or indirectly and whether in any composition by the Debtor with its
    creditors, by exercise of set-off, counterclaim, merger or consolidation of accounts or in any other manner; 
	 	 	 
	 	(b)	make
    any claim or demand in respect of any guarantee or indemnity in any Junior Document;
	 	 	 
	 	(c)	prove
    in competition with the Senior Creditor in the dissolution of the Debtor; 
	 	 	 
	 	(d)	take,
    accept or receive the benefit of any security interest, guarantee, indemnity or other assurance from any person against financial
    loss in respect of the Junior Debt, other than the Junior Security described in Schedule 1;
	 	 	 
	 	(e)	exercise
    any right of Enforcement in respect of the Secured Property (or any part thereof), or make any claim or demand in respect
    of any guarantee or indemnity in any Junior Document;
	 	 	 
	 	(f)	amend,
    supplement, terminate or release any of the Junior Documents; 
	 	 	 
	 	(g)	create
    or suffer or permit to exist any security interest over or affecting any of its right, title or interest in any of the Junior
    Debt or the Junior Security;
	 	 	 
	 	(h)	claim,
    prove or accept payment in composition by, or in a liquidation or administration of, the Debtor;

 

    	Page 10

     

    

 

	 	(i)	initiate
    or support or take any step with a view to:

 

	 	(i)	any
    insolvency, liquidation, reorganisation, administration or dissolution proceedings of the Debtor;
	 	 	 
	 	(ii)	any
    voluntary arrangement or assignment for the benefit of creditors; or 
	 	 	 
	 	(iii)	any
    similar proceedings involving the Debtor whether by petition, convening a meeting, voting for a resolution or otherwise;

 

	 	(j)	exercise
    any right to require any insurance proceeds to be applied in reinstatement of any asset subject to any Junior Security; 
	 	 	 
	 	(k)	receive
    any financial accommodation (of whatever nature) from the Debtor;
	 	 	 
	 	(l)	enter
    into any agreement (other than the Junior Facility Agreement and the Junior Security described in Schedule 1, in each case
    in the form reviewed by the Senior Creditor as at the date of this Deed) that constitutes or evidences any Junior Debt without
    the prior written consent of the Senior Creditor;
	 	 	 
	 	(m)	assign,
    sell, novate or transfer any of its rights or obligations in respect of any Junior Debt or under any Junior Document without
    the Senior Creditor’s prior written consent;
	 	 	 
	 	(n)	bring
    or support any legal proceedings against the Debtor, or otherwise exercise any remedy for the recovery of any Junior Debt;
    or
	 	 	 
	 	(o)	take
    or omit any action whereby the subordination contemplated by this Deed may be impaired or terminated.

 

	6.4	Postponement
    absolute: The provisions of clauses 6.1 to 6.3 shall apply notwithstanding that any amount owing to the Junior Creditor
    may have become due and payable because of the making of demand for payment or the maturity of such debt or the occurrence
    of a default under a Junior Document or otherwise.
	 	 
	6.5	Permitted
    Actions: Notwithstanding anything in this Deed to the contrary:

 

	 	(a)	the
    Junior Creditor may declare a Junior Event of Default if the Debtor fails to pay a Junior Redemption Amount in accordance
    with clause 8 of Junior Facility Agreement;
	 	 	 
	 	(b)	the
    Debtor may only pay the Junior Redemption Payments to the Junior Creditor prior to the Termination Date, provided that such
    payments are funded in full by the issue of new equity in the Debtor (and for the avoidance of doubt, not by any debt instrument)
    and no Senior Event of Default, Senior Potential Event of Default or Senior Event of Review has occurred and is continuing
    as at the date of relevant payment; 
	 	 	 
	 	(c)	the
    Junior Creditor may convert all or any portion of the Outstanding Balance into Ordinary Shares (as each of those capitalised
    terms are defined in the Junior Note Agreement) in accordance with the Junior Note Agreement or exchange all or any portion
    of the Outstanding Balance for Ordinary Shares pursuant to one or more exchange transactions pursuant to Section 3(a)(9) of
    the United States Securities Act of 1933, as amended, to be agreed by the Debtor and the Junior Creditor; and 
	 	 	 
	 	(d)	the
    Junior Creditor may bring a legal proceeding against the Debtor but only for: (i) specific performance wherein the Junior
    Creditor seeks to cause the Debtor to deliver Ordinary Shares pursuant to the Junior Creditor’s rights to receive Ordinary
    Shares described in clause 6.5(b) above; or (ii) specific performance wherein the Junior Creditor seeks an injunction prohibiting
    the Debtor from issuing Ordinary Shares as described in clause 10.3 of the Junior Securities Purchase Agreement.

 

    	Page 11

     

    

 

	6.6	Turnover:
    If the Junior Creditor:

 

	 	(a)	receives
    or recovers a payment or distribution in cash or in kind of, or on account of, any Junior Debt; or 
	 	 	 
	 	(b)	accepts
    any assets in respect of any Junior Debt; or
	 	 	 
	 	(c)	receives
    a discharge of any of the Junior Debt by the exercise of any rights against the Debtor (whether of set-off, combination of
    accounts or otherwise),

 

which
is not permitted by the provisions of this Deed, whether upon the dissolution of the Debtor or for any other reason, then the
Junior Creditor shall hold each such payment and any such assets (or, if any of the Junior Debt is discharged by set-off or otherwise,
an amount equal to the discharge) on trust as bare trustee for the Senior Creditor and will pay the relevant amount (plus interest
(if any)) and turn over the relevant funds and/or assets to the Senior Creditor in or towards the discharge of the Senior Debt.
Any such amount paid, or the value of any such assets held, by the Junior Creditor on account of being trustee for the benefit
of the Senior Creditor and paid over to the Senior Creditor shall be treated, for the purposes of the obligations of the Debtor
in respect of the Junior Debt, as if it had not been paid or turned over by the Debtor. The Junior Debt shall accordingly be deemed
not to be discharged to that extent.

 

	6.7	Perpetuity
    Period of Trust: The trust constituted by clause 6.6 of this Deed shall be for a term of 21 years from the date of this
    Deed.
	 	 
	6.8	Duties
    of the Junior Creditor as trustee: Pending the payment by the Junior Creditor to the Senior Creditor of any of the Junior
    Debt so taken or received or the turning over of any assets so accepted by the Junior Creditor, the Junior Creditor shall:

 

	 	(a)	not
    co-mingle any such amount to be paid or any assets to be turned over to the Senior Creditor with its other assets; and 
	 	 	 
	 	(b)	place
    any such amount to be paid to the Senior Creditor in a separate, interest-bearing account (to be designated as a trust account)
    with any bank or financial institution in New Zealand.

 

The
Junior Creditor as trustee shall account to the Senior Creditor for any of the Junior Debt so taken or received by it or assets
so accepted by it.

 

	6.9	Failure
    of Trust: If and to the extent that the trust constituted by clause 6.6 of this Deed is for any reason not properly constituted
    or is otherwise not effective, the Junior Creditor agrees (on an indemnity basis) immediately on demand to pay to the Senior
    Creditor any of the Junior Debt so taken, recovered or received or any assets so accepted or any discharge received by the
    Junior Creditor as described in clause 6.6 of this Deed.
	 	 
	6.10	Exception
    - capitalisation of interest and fees: Nothing in this Deed is intended to prevent the Junior Creditor from charging interest
    or fees on or in connection with the Junior Debt in accordance with the terms of the Junior Documents (as at the date of this
    Deed), provided that such interest or fees are capitalised to the Junior Debt.

 

    	Page 12

     

    

 

	7.	sale
    and enforcement
	 	 
	7.1	Releases:
    Without limiting clause 11.2:

 

	 	(a)	on
    the sale of any Secured Property or any part of it which is approved by the Senior Creditor (whether following enforcement
    of a Security or otherwise), the Junior Creditor must promptly (and in any event within 5 Business Days of receiving a request
    from the Senior Creditor, any receiver appointed by the Senior Creditor or the Debtor (the “Relevant Party”))
    deliver to the Relevant Party duly executed releases of the Junior Security in respect of the Secured Property that is the
    subject of the sale, together with any other documents which in the opinion of the Senior Creditor are required to enable
    settlement of the sale; and
	 	 	 
	 	(b)	where
settlement terms are agreed with an insurer in connection with a claim in respect of the Secured Property or any part of it and
those terms are approved by the Senior Creditor (whether following enforcement of a Security or otherwise), the Junior Creditor
must promptly (and in any event within 5 Business Days of receiving a request from a Relevant Party) deliver to the Relevant Party
a duly executed discharge of all of the Junior Creditor’s interest in and claims under the relevant insurance policy (as
an interested party or otherwise) in respect of the Secured Property that is the subject of the settlement, together with any
other documents which in the opinion of the Senior Creditor are required to enable payment of the settlement amount by the insurer
(including, without limitation, any indemnity or release of liability required by the insurer),

 

in each case,
    whether or not the Junior Creditor will receive any amount from the proceeds of that sale or settlement.

 

	7.2	Enforcement
    by the Senior Creditor: If the Senior Creditor enforces any Senior Security then:

 

	 	(a)	the
    Junior Creditor will not be entitled to take or have possession of any assets subject to such Security or maintain a receiver
    in possession in respect of such assets (except with the prior written consent of the Senior Creditor); and
	 	 	 
	 	(b)	the
    Senior Creditor will control the entire conduct of any sale of assets covered by any Senior Security.

 

	7.3	Order
    of Application after Enforcement: Subject to the rights of any prior security holder or any preferential claim (including
    any costs incurred by or expenses of any receiver), the proceeds of any sale or realisation of the Secured Property arising
    from any Enforcement must be applied in the order set out in clause 3.1.
	 	 
	7.4	Direction
    to Pay: Each Secured Party irrevocably and unconditionally authorises and directs a liquidator, official assignee, administrator,
    receiver, or similar person appointed or acting in respect of the Debtor or its assets to pay the proceeds of the realisation
    of any Secured Property in accordance with the provisions of this Deed.

 

    	Page 13

     

    

 

	7.5	Third
    party payments: If the Senior Creditor receives any amount otherwise than from the Debtor, the Senior Debt will not be
    deemed reduced by that amount until and except to the extent that it is applied towards the Senior Debt.
	 	 
	7.6	Currencies:
    All money received or held by the Senior Creditor under this Deed at any time on or after the Enforcement of any Security
    in a currency other than a currency in which the Senior Debt is denominated may be sold for any one or more of the currencies
    in which the Senior Debt is denominated as the Senior Creditor considers necessary or desirable. The Senior Creditor has no
    liability to any party to this Deed in respect of any loss resulting from any fluctuation in exchange rates after any such
    sale.
	 	 
	7.7	Deemed
    Waiver of Default: 

 

Any
waiver or consent granted by or on behalf of the Senior Creditor at any time prior to the Termination Date in respect of the Senior
Documents will also be deemed to have been given by Junior Creditor if:

 

	 	(a)	in
    order for any such waiver or consent to take effect in accordance with its terms, such waiver or consent is required from
    the Junior Creditor; or
	 	 	 
	 	(b)	the
act matter or thing the subject of the waiver or consent would, if such waiver or consent was not provided, result in a Junior
Event of Default or a ‘Potential Event of Default’ (however described) under any Junior Document,

 

in each case,
    whether or not an Enforcement Date has already occurred.

 

	8.	ASSIGNMENT
	 	 
	8.1	Benefit
    and Burden of this Deed: This Deed shall be binding upon and enure for the benefit of the parties and their respective
    successors and any permitted assignee or transferee.
	 	 
	8.2	By
    the Debtor and the Junior Creditor: Neither the Debtor nor the Junior Creditor may assign or transfer any or all of their
    respective rights (if any) or obligations under this Deed without (i) obtaining the prior written consent of the Senior Creditor
    and (ii) procuring that any assignee or transferee enters into a deed of covenant with the other parties to this Deed, agreeing
    to be bound by this Deed in the place of the transferring party. 
	 	 
	8.3	By
    the Senior Creditor: The Senior Creditor may assign any or all of its rights and benefits under this Deed subject to the
    requirement that any assignee enters into a deed of covenant with the Debtor and the Junior Creditor whereby the assignee
    agrees to be bound by this Deed as if it were the Senior Creditor. 
	 	 
	9.	POWER
    OF ATTORNEY
	 	 
	9.1	The
    Junior Creditor irrevocably appoints (by way of security) the Senior Creditor, each officer and employee for the time being
    of the Senior Creditor whose title includes the term “manager” or “director” and any receiver appointed
    by the Senior Creditor severally to be its attorney (with full power to appoint substitutes and to sub-delegate), on its behalf
    and in its name or otherwise, at such time and in such manner as the attorney may think fit to do any thing which the Junior
    Creditor may be obliged to do or ought to do under this Deed and which the Junior Creditor fails to do within 3 Business Days
    of request, and generally in its name and on its behalf to carry into effect, complete or facilitate the exercise or purported
    exercise of all or any of the rights conferred on the Senior Creditor under this Deed (including without limitation by executing,
    delivering, registering and/or otherwise perfecting any release or agreement).

 

    	Page 14

     

    

 

	9.2	The
    Junior Creditor agrees to ratify and confirm anything an attorney lawfully does or causes to be done under clause 9.1, and
    to indemnify the Senior Creditor and each such attorney on demand against any cost or liability they may suffer or incur as
    a direct or indirect consequence of the lawful exercise of such power.
	 	 
	10.	REPRESENTATIONS
	 	 
	10.1	The
    Junior Creditor and the Debtor each make the following representations and warranties to the Senior Creditor on the date of
    this Deed:

 

	 	(a)	it
    has the power to enter into and perform, and has taken all necessary actions to authorise the entry into and performance of,
    this Deed and the transactions contemplated by it;
	 	 	 
	 	(b)	the
    entry into and performance by it of, and the transactions contemplated by, this Deed does and will not conflict with:

 

	 	(i)	any
    law or regulation applicable to it;
	 	 	 
	 	(ii)	its
    constitutional or establishment documents (as the case may be); or
	 	 	 
	 	(iii)	any
    agreement or instrument binding upon it or its assets; and

 

	 	(c)	true,
    complete and up-to-date copies of all Junior Documents have been provided to the Senior Creditor and there are no documents
    or agreements in place in relation to the Junior Debt which have not been disclosed in writing to the Senior Creditor prior
    to the date of this Deed;
	 	 	 
	 	(d)	its
    obligations under this Deed are legal, valid, binding and enforceable against it in accordance with the terms of this Deed,
    subject to equitable principles and laws affecting creditors’ rights generally; and
	 	 	 
	 	(e)	other
    than the Junior Security described in Schedule 1, no security interest, guarantee, indemnity or other assurance against financial
    loss in respect of the Junior Debt has been granted or exists (whether registered or unregistered).

 

	11.	UNDERTAKINGS
	 	 
	11.1	Undertakings:
    Each of the Debtor and the Junior Creditor undertakes that it will:

 

	 	(a)	at
    its own cost, promptly execute and deliver to the Senior Creditor all agreements, consents or any other document whatsoever
    and do anything else that the Senior Creditor reasonably requires, to secure to the Senior Creditor the full benefit of this
    Deed; 
	 	 	 
	 	(b)	not
    enter into any agreement (other than the Junior Facility Agreement and the Junior Security described in Schedule 1, in each
    case, in the form reviewed by the Senior Creditor as at the date of this Deed) that constitutes or evidences any Junior Debt
    without the prior written consent of the Senior Creditor;

 

    	Page 15

     

    

 

	 	(c)	not
    assign, sell, novate or transfer any of its rights or obligations in respect of any Junior Debt or under any Junior Document
    without the Senior Creditor’s prior written consent; and
	 	 	 
	 	(d)	promptly
    notify the Senior Creditor in writing after it becomes aware of any Junior Event of Default occurring. 

 

	11.2	Further
    Assurance: The Junior Creditor undertakes that it will promptly and at its own cost:

 

	 	(a)	execute
    and deliver to the Senior Creditor (or any receiver appointed by the Senior Creditor) all agreements, transfers, consents
    (of whatever nature), discharges of Junior Security, releases of caveats, assignments, security interests and other documents
    (including, without limitation, any priority registrations and/or filings), and do anything else that the Senior Creditor
    (or any receiver appointed by the Senior Creditor) reasonably considers necessary or desirable, in each case (i) to secure
    to the Senior Creditor the full benefit of, and reflect the priorities set out in, this Deed, (ii) to assist with the Senior
    Debt being fully recovered from the realisation of the Secured Property or (iii) to remove any impediment to the exercise
    by the Senior Creditor of its rights under this Deed or the Senior Security; and
	 	 	 
	 	(b)	on
    request by the Senior Creditor:

 

	 	(i)	deliver
    to the Senior Creditor any certificates or instruments held by the Junior Creditor representing Senior Security including
    certificates evidencing the Pledged Shares together with an instrument of transfer duly endorsed in blank in respect of the
    shares;
	 	 	 
	 	(ii)	attend
    to any registration relating to the Uniform Commercial Code to reflect the priority agreed pursuant to terms of this Deed.

 

	11.3	Dissolution:
    In the event of the dissolution of the Debtor:

 

	 	(a)	the
    Senior Creditor may, and is irrevocably authorised on behalf of the Junior Creditor to, claim, enforce and prove for the Junior
    Debt, file claims and proofs, accept payments, give receipts and do all such things as the Senior Creditor sees fit to recover
    the Junior Debt and receive all payments and distributions in respect of the Junior Debt for application towards the Senior
    Debt;
	 	 	 
	 	(b)	the
    Junior Creditor shall take such action as may be required by the Senior Creditor in order to enable it to enforce payment
    of the Junior Debt and to collect and receive all payments and distributions in respect of the Junior Debt for application
    towards the Senior Debt; and
	 	 	 
	 	(c)	any
    payment or distribution of any nature that is payable or deliverable in respect of the Junior Debt shall be paid or delivered
    by the liquidator or other person making the distribution directly to the Senior Creditor until the Senior Debt has been irrevocably
    paid in full to the satisfaction of the Senior Creditor (subject to clause 3.1). The Junior Creditor will give all notices
    and do all things as the Senior Creditor may direct to give effect to this provision.

 

    	Page 16

     

    

 

	12.	NOTICES
	 	 
	12.1	Each
    notice or other communication under this Deed is to be in writing and is to be made by facsimile, personal delivery, email
    or post to the addressee at the facsimile number or address, and marked for the attention of the person or officeholder (if
    any), set out below (or such other address, facsimile number and/or person as the relevant party may notify the other parties
    in writing from time to time):

 

	 	(a)	The
    Debtor

 

	 	 	Naked
    Brand Group Limited 
	 	 	 
	 	Address:	c/o
                                         Bendon Limited

        Building
        7B, Huntley Street

        NSW
        2015, Australia

	 	 	 
	 	Attention:	Anna
    Johnson

 

	 	(b)	The
    Junior Creditor

 

	 	 	St.
    George Investments LLC
	 	 	 
	 	Address:	303
                                         East Wacker Drive, Suite 1040

        Chicago,
        Illinois 60601

	 	 	 
	 	Attention:	John
    Fife

 

With
a copy to:

 

	 	 	Hansen
    Black Anderson Ashcraft PLLC
	 	 	 
	 	Address:	3051
                                         West Maple Loop Drive, Suite 325

        Lehi,
        Utah 84043

	 	 	 
	 	Attention:	Jonathan
    Hansen

 

	 	(c)	The
    Senior Creditor

 

	 	 	Bank
    of New Zealand
	 	 	 
	 	Address:	Level
                                         5, Deloitte Centre, 80 Queen Street

        Auckland
        1010

	 	 	 
	 	Email:	Christian_Thomas@bnz.co.nz

        Dermot_Rodden@bnz.co.nz

	 	 	 
	 	Attention:	Christian
    Thomas and Dermot Rodden

 

    	Page 17

     

    

 

	12.2	A
    communication under this Deed will be effective:

 

	 	(a)	in
    the case of personal delivery, when delivered; 
	 	 	 
	 	(b)	if
    posted, 3 Business Days, in the place of receipt, after posting (by airmail if to another country); 
	 	 	 
	 	(c)	if
    made by facsimile, upon production of a transmission report by the machine from which the facsimile was sent which indicates
    complete transmission to the facsimile number of the recipient designated for the purposes of this Deed; and
	 	 	 
	 	(d)	if
    emailed, at the time the notifying party receives an acknowledgement of receipt of delivery from the recipient’s email
    address or (if earlier) two Business Days, in the place of receipt, after the email was sent (unless the notifying party receives
    an error message relating to the sending of the email before that time), otherwise, upon receipt by the notifying party of
    a non-automated confirmation of receipt of such notice from the recipient,

 

provided
that any communication received or deemed received after 5pm or on a day which is not a Business Day in the place to which it
is delivered, posted or sent shall be deemed not to have been received until the next Business Day in that place.

 

	13.	GENERAL
    
	 	 
	13.1	Amendments:
    This Deed may from time to time be amended if all parties agree in writing.
	 	 
	13.2	Remedies
    and waivers: Time is of the essence for this Deed but no failure to exercise, and no delay in exercising, any right or
    remedy of the Senior Creditor under this Deed is to operate as a waiver of such right or remedy, nor will any single or partial
    exercise of any right or remedy preclude any other or further exercise thereof or the exercise of any right or remedy. No
    waiver by the Senior Creditor of any rights or remedies under this Deed is to be effective unless it is in writing signed
    by the Senior Creditor. 
	 	 
	13.3	Partial
    invalidity: The illegality, invalidity or unenforceability of any provision of this Deed under any law will not affect
    the legality, validity or enforceability of that provision under any other law or the legality, validity or enforceability
    of any other provision.
	 	 
	13.4	Expiry:
    With effect from the Termination Date, this Deed shall terminate and the parties shall have no further obligations hereunder.
	 	 
	13.5	Reinstatement:
    If any payment received or recovered by a Secured Party in respect of its Secured Debt is avoided by law or has to be refunded
    to any liquidator or other person, that payment will be deemed not to have discharged the Senior Debt or the Junior Debt (as
    the context requires) in respect of which the payment was received or recovered and accordingly, if the Termination Date has
    occurred in such circumstances then it will be deemed not to have occurred.
	 	 
	13.6	Third
    party payments: If the Senior Creditor receives any amount otherwise than from the Debtor, the Senior Debt will not be
    deemed reduced by that amount until and except to the extent that it is applied towards the Senior Debt.
	 	 
	13.7	Disclosure
    of information: Each Secured Party may disclose to the other such information about the Debtor, its Security, the facilities
    being provided to the Debtor and any related information as that Secured Party thinks fit.

 

    	Page 18

     

    

 

	13.8	No
    requirement to enforce: A Secured Party may refrain from enforcing its Security as long as that Secured Party sees fit.
    The Junior Creditor waives any right it may have of first requiring the Senior Creditor (or any party on its behalf) to proceed
    against or enforce any other right or security or claim payment from any person before claiming the benefit of this Deed.
	 	 
	13.9	Senior
    Creditor’s discretion: The Senior Creditor (or any person on its behalf) may:

 

	 	(a)	apply
    any moneys or property received under this Deed or from the Debtor or any other person against the Senior Debt in such order
    as it sees fit;
	 	 	 
	 	(b)	hold
    in suspense any moneys or distributions received from the Junior Creditor under this Deed.

 

	13.10	Custody
    of documents: So long as the Senior Documents are in effect, the Senior Creditor will be entitled to hold any title documents,
    share certificates or similar original documents in respect of any Secured Property in priority to the entitlement of the
    Junior Creditor. The Senior Creditor has no responsibility to the Junior Creditor in connection with obtaining or maintaining
    custody of such documents.
	 	 
	13.11	Debtor:
    This Deed is given for the sole benefit of the Secured Parties (or the relevant Secured Party) and does not create any obligation
    or liability on the part of either Secured Party to the Debtor.
	 	 
	13.12	Costs:
    

 

	 	(a)	The
    Debtor agrees to pay on demand all reasonable costs incurred by the Secured Parties in connection with the preparation, negotiation,
    execution and performance of this Deed, and all waivers under and amendments to this Deed.
	 	 	 
	 	(b)	The
    Debtor and the Junior Creditor (as the case may be) agree to pay on demand all costs incurred by the Senior Creditor in connection
    with the enforcement against the Debtor or the Junior Creditor (as applicable), or (in the case of the Debtor only) review
    and consideration, of the Senior Creditor’s rights under this Deed. For the avoidance of doubt, the Junior Creditor
    shall not be liable for any costs and expenses in connection with the enforcement against the Debtor.

 

	13.13	Contracts
    Privity: The parties acknowledge that, in terms of the Contract and Commercial Law Act 2017, this Deed is made for the
    benefit of and is intended to be enforceable by the Senior Creditor and any receiver appointed by it.
	 	 
	13.14	Counterparts:
    This Deed may be signed in any number of counterparts (including scanned PDF counterparts) all of which, when taken together,
    will constitute one and the same instrument. Any party may enter into this Deed by executing any such counterpart.
	 	 
	13.15	Delivery:
    For the purposes of section 9 of the Property Law Act 2007 and without limiting any other mode of delivery, this Deed will
    be delivered by each of the Debtor and the Junior Creditor immediately on the earlier of:

 

	 	(a)	physical
    delivery of an original of this Deed, executed by the relevant party, into the custody of the Senior Creditor or its solicitors;
    or
	 	 	 
	 	(b)	transmission
    by the relevant party, its solicitors or any other person authorised in writing by that party of a facsimile, photocopied
    or scanned copy of an original of this Deed, executed by that party, to the Senior Creditor or its solicitors.

 

    	Page 19

     

    

 

	13.16	Copies:
    If any party transmits a facsimile, photocopied or scanned copy of this Deed to the Senior Creditor by way of delivery under
    clause 13.15:

 

	 	(a)	the
    other parties may rely on that copy as though it were the original copy; and
	 	 	 
	 	(b)	the
    transmitting party will, as soon as reasonably practicable thereafter, deliver to each other party the executed original of
    this Deed.

 

	13.17	Governing
    law: This Deed is to be governed by and construed in accordance with the laws of New Zealand and the parties submit to
    the non-exclusive jurisdiction of the courts of New Zealand.

 

EXECUTION
TO FOLLOW

 

    	Page 20

     

    

 

EXECUTED
as a deed

The
Debtor

 

	SIGNED,
    SEALED and DELIVERED as a DEED for and on behalf of NAKED BRAND GROUP LIMITED ACN 619 054 938 	)

        )

        )
	 
	by
    its attorney under power of attorney dated:	)

        )
	 
	 

         
	)

        )
	 

        /s/
        Justin Davis-Rice

	In
                                         the presence of:

         

        /s/
	 

         

         
	Signature
                                         of Attorney

         

        Justin
        Davis-Rice

	Witness
    signature	 	Name
    of Attorney (BLOCK LETTERS)
	 	 	 
	Name
    of witness (BLOCK LETTERS)	 	 
	 	 	 
	Address
    of witness	 	 
	 	 	 
	Occupation
    of witness	 	 

 

The
Senior Creditor

 

	EXECUTED
    as a DEED for and on behalf of BANK OF NEW ZEALAND by its Attorneys	)

        )

        )
	 

         

        /s/
        Sarah Louise Bartosiak

	in
                                         the presence of

         

        /s/
	)	Signature

         

        Sarah
        Louise Bartosiak

	Witness
                                         signature

                                                                                 
	 	Name
    of Attorney
	Full
    name	 	 

         

        /s/
        Shane Andrew Kelley

	Address	 	Signature

         

        Shane
        Andrew Kelley

	Occupation	 	Name
    of Attorney

 

Note:

-Person
authorised by constitution - signature must be witnessed

-Attorney
appointed under s181 Companies Act - signature does not need to be witnessed

 

    	Page 21

     

    

 

The
Junior Creditor

 

EXECUTED
as a DEED for and on behalf of

ST.
GEORGE INVESTMENTS LLC

 

	By:	Fife
    Trading, Inc., its Manager	 
	 	 	 
	By:	/s/
    John M. Fife	 
	 	John
    M. Fife, President	 

 

    	Page 22Exhibit 4.1

    

    

  

  VONAGE HOLDINGS CORP.

  

  

  AND

  

  

  WILMINGTON TRUST, NATIONAL ASSOCIATION,

  

  

  as Trustee

  

  

  INDENTURE

  

  

  Dated as of June 14, 2019

  

  

  1.75% Convertible Senior Notes due 2024

  

  

  
    
      

  

  
  TABLE OF CONTENTS

  

  

  	 	 	
          Page

        
	
          ARTICLE 1

          Definitions

        
	
          Section 1.01.

        	
          Definitions

        	
          1

        
	
          Section 1.02.

        	
          References to Interest

        	
          12

        
	
          ARTICLE 2

          Issue, Description, Execution, Registration and Exchange of Notes

        
	
          Section 2.01.

        	
          Designation and Amount

        	
          12

        
	
          Section 2.02.

        	
          Form of Notes

        	
          12

        
	
          Section 2.03.

        	
          Date and Denomination of Notes; Payments of Interest and Defaulted Amounts

        	
          13

        
	
          Section 2.04.

        	
          Execution, Authentication and Delivery of Notes

        	
          15

        
	
          Section 2.05.

        	
          Exchange and Registration of Transfer of Notes; Restrictions on Transfer; Depositary

        	
          15

        
	
          Section 2.06.

        	
          Mutilated, Destroyed, Lost or Stolen Notes

        	
          22

        
	
          Section 2.07.

        	
          Temporary Notes

        	
          23

        
	
          Section 2.08.

        	
          Cancellation of Notes Paid, Converted, Etc.

        	
          23

        
	
          Section 2.09.

        	
          CUSIP Numbers

        	
          23

        
	
          Section 2.10.

        	
          Additional Notes; Repurchases

        	
          23

        
	
          ARTICLE 3

          Satisfaction and Discharge

        
	
          Section 3.01.

        	
          Satisfaction and Discharge

        	
          24

        
	
          ARTICLE 4

          Particular Covenants of the Company

        
	
          Section 4.01.

        	
          Payment of Principal and Interest

        	
          24

        
	
          Section 4.02.

        	
          Maintenance of Office or Agency

        	
          25

        
	
          Section 4.03.

        	
          Appointments to Fill Vacancies in Trustee’s Office

        	
          25

        
	
          Section 4.04.

        	
          Provisions as to Paying Agent

        	
          25

        
	
          Section 4.05.

        	
          Existence

        	
          27

        
	
          Section 4.06.

        	
          Rule 144A Information Requirement and Annual Reports

        	
          27

        
	
          Section 4.07.

        	
          Stay, Extension and Usury Laws

        	
          29

        
	
          Section 4.08.

        	
          Compliance Certificate; Statements as to Defaults

        	
          29

        
	
          Section 4.09.

        	
          [Reserved.]

        	
          29

        
	
          Section 4.10.

        	
          Further Instruments and Acts

        	 29

        

  

  

  
    i

    
      

  

  	
          ARTICLE 5

          Lists of Holders and Reports by the Company and the Trustee

        
	
          Section 5.01.

        	
          Lists of Holders

        	
          30

        
	
          Section 5.02.

        	
          Preservation and Disclosure of Lists

        	
          30

        
	
          ARTICLE 6

          Defaults and Remedies

        
	
          Section 6.01.

        	
          Events of Default

        	
          30

        
	
          Section 6.02.

        	
          Acceleration; Rescission and Annulment

        	
          31

        
	
          Section 6.03.

        	
          Additional Interest

        	
          32

        
	
          Section 6.04.

        	
          Payments of Notes on Default; Suit Therefor

        	
          34

        
	
          Section 6.05.

        	
          Application of Monies Collected by Trustee

        	
          35

        
	
          Section 6.06.

        	
          Proceedings by Holders

        	
          36

        
	
          Section 6.07.

        	
          Proceedings by Trustee

        	
          37

        
	
          Section 6.08.

        	
          Remedies Cumulative and Continuing

        	
          37

        
	
          Section 6.09.

        	
          Direction of Proceedings and Waiver of Defaults by Majority of Holders

        	
          37

        
	
          Section 6.10.

        	
          Notice of Defaults

        	
          38

        
	
          Section 6.11.

        	
          Undertaking to Pay Costs

        	
          38

        
	
          ARTICLE 7

          Concerning the Trustee

        
	
          Section 7.01.

        	
          Duties and Responsibilities of Trustee

        	
          39

        
	
          Section 7.02.

        	
          Reliance on Documents, Opinions, Etc.

        	
          40

        
	
          Section 7.03.

        	
          No Responsibility for Recitals, Etc.

        	
          42

        
	
          Section 7.04.

        	
          Trustee, Paying Agents, Conversion Agents, Bid Solicitation Agent or Note Registrar May Own Notes

        	
          42

        
	
          Section 7.05.

        	
          Monies to Be Held in Trust

        	
          43

        
	
          Section 7.06.

        	
          Compensation and Expenses of Trustee

        	
          43

        
	
          Section 7.07.

        	
          Officer’s Certificate as Evidence

        	
          44

        
	
          Section 7.08.

        	
          Eligibility of Trustee

        	
          44

        
	
          Section 7.09.

        	
          Resignation or Removal of Trustee

        	
          44

        
	
          Section 7.10.

        	
          Acceptance by Successor Trustee

        	
          45

        
	
          Section 7.11.

        	
          Succession by Merger, Etc.

        	
          46

        
	
          Section 7.12.

        	
          Trustee’s Application for Instructions from the Company

        	
          46

        
	
          ARTICLE 8

          Concerning the Holders

        
	
          Section 8.01.

        	
          Action by Holders

        	
          47

        
	
          Section 8.02.

        	
          Proof of Execution by Holders

        	
          47

        
	
          Section 8.03.

        	
          Who Are Deemed Absolute Owners

        	
          47

        
	
          Section 8.04.

        	
          Company-Owned Notes Disregarded

        	
          48

        
	
          Section 8.05.

        	
          Revocation of Consents; Future Holders Bound

        	
          48

        

  

  

  
    ii

    
      

  

  	
          ARTICLE 9

          Holders’ Meetings

        
	
          Section 9.01.

        	
          Purpose of Meetings

        	
          48

        
	
          Section 9.02.

        	
          Call of Meetings by Trustee

        	
          49

        
	
          Section 9.03.

        	
          Call of Meetings by Company or Holders

        	
          49

        
	
          Section 9.04.

        	
          Qualifications for Voting

        	
          49

        
	
          Section 9.05.

        	
          Regulations

        	
          49

        
	
          Section 9.06.

        	
          Voting

        	
          50

        
	
          Section 9.07.

        	
          No Delay of Rights by Meeting

        	
          50

        
	
          ARTICLE 10

          Supplemental Indentures

        
	
          Section 10.01.

        	
          Supplemental Indentures Without Consent of Holders

        	
          50

        
	
          Section 10.02.

        	
          Supplemental Indentures with Consent of Holders

        	
          51

        
	
          Section 10.03.

        	
          Effect of Supplemental Indentures

        	
          53

        
	
          Section 10.04.

        	
          Notation on Notes

        	
          53

        
	
          Section 10.05.

        	
          Evidence of Compliance of Supplemental Indenture to Be Furnished Trustee

        	
          53

        
	
          ARTICLE 11

          Consolidation, Merger, Sale, Conveyance and Lease

        
	
          Section 11.01.

        	
          Company May Consolidate, Etc. on Certain Terms

        	
          53

        
	
          Section 11.02.

        	
          Successor Corporation to Be Substituted

        	
          54

        
	
          Section 11.03.

        	
          Opinion of Counsel to Be Given to Trustee

        	
          54

        
	
          ARTICLE 12

          Immunity of Incorporators, Stockholders, Officers and Directors

        
	
          Section 12.01.

        	
          Indenture and Notes Solely Corporate Obligations

        	
          55

        
	
          ARTICLE 13

          [intentionally omitted]

        
	
          ARTICLE 14

          Conversion of Notes

        
	
          Section 14.01.

        	
          Conversion Privilege

        	
          55

        
	
          Section 14.02.

        	
          Conversion Procedure; Settlement upon Conversion

        	
          57

        
	
          Section 14.03.

        	
          Increased Conversion Rate Applicable to Certain Notes Surrendered in Connection with Make-Whole Fundamental Changes or Notice of Redemption

        	
          61

        
	
          Section 14.04.

        	
          Adjustment of Conversion Rate

        	
          64

        
	
          Section 14.05.

        	
          Adjustments of Prices

        	
          73

        
	
          Section 14.06.

        	
          Shares to Be Fully Paid

        	
          73

        
	
          Section 14.07.

        	
          Effect of Recapitalizations, Reclassifications and Changes of the Common Stock

        	
          73

        
	
          Section 14.08.

        	
          Certain Covenants

        	
          75

        
	
          Section 14.09.

        	
          Responsibility of Trustee

        	
          75

        
	
          Section 14.10.

        	
          Notice to Holders Prior to Certain Actions

        	
          76

        
	
          Section 14.11.

        	
          Stockholder Rights Plans

        	
          77

        

  

  

  
    iii

    
      

  

  	
          ARTICLE 15

          Repurchase of Notes at Option of Holders

        
	
          Section 15.01.

        	
          [Intentionally Omitted]

        	
          77

        
	
          Section 15.02.

        	
          Repurchase at Option of Holders Upon a Fundamental Change

        	
          77

        
	
          Section 15.03.

        	
          Withdrawal of Fundamental Change Repurchase Notice

        	
          80

        
	
          Section 15.04.

        	
          Deposit of Fundamental Change Repurchase Price

        	
          80

        
	
          Section 15.05.

        	
          Covenant to Comply with Applicable Laws Upon Repurchase of Notes

        	
          81

        
	
          ARTICLE 16

          optional Redemption

        
	
          Section 16.01.

        	
          Optional Redemption

        	
          81

        
	
          Section 16.02.

        	
          Notice of Optional Redemption; Selection of Notes

        	
          82

        
	
          Section 16.03.

        	
          Payment of Notes Called for Redemption

        	
          83

        
	
          Section 16.04.

        	
          Restrictions on Redemption

        	
          84

        
	
          ARTICLE 17

          Miscellaneous Provisions

        
	
          Section 17.01.

        	
          Provisions Binding on Company’s Successors

        	
          84

        
	
          Section 17.02.

        	
          Official Acts by Successor Corporation

        	
          84

        
	
          Section 17.03.

        	
          Addresses for Notices, Etc.

        	
          84

        
	
          Section 17.04.

        	
          Governing Law; Jurisdiction

        	
          85

        
	
          Section 17.05.

        	
          Evidence of Compliance with Conditions Precedent; Certificates and Opinions of Counsel to Trustee

        	
          85

        
	
          Section 17.06.

        	
          Legal Holidays

        	
          86

        
	
          Section 17.07.

        	
          No Security Interest Created

        	
          86

        
	
          Section 17.08.

        	
          Benefits of Indenture

        	
          86

        
	
          Section 17.09.

        	
          Table of Contents, Headings, Etc.

        	
          86

        
	
          Section 17.10.

        	
          Authenticating Agent

        	
          86

        
	
          Section 17.11.

        	
          Execution in Counterparts

        	
          87

        
	
          Section 17.12.

        	
          Severability

        	
          88

        
	
          Section 17.13.

        	
          Waiver of Jury Trial

        	
          88

        
	
          Section 17.14.

        	
          Force Majeure

        	
          88

        
	
          Section 17.15.

        	
          Calculations

        	
          88

        
	
          Section 17.16.

        	
          USA PATRIOT Act

        	
          88

        

  

  

  EXHIBIT

  

  	
          Exhibit A

        	
          Form of Note

        	
          A-1

        
	
          Exhibit B

        	
          Form of Free Transferability Certificate

        	
          B-1

        

  

  

  
    iv

    
      

  

  
  INDENTURE dated as of June 14, 2019 between VONAGE HOLDINGS CORP., a Delaware corporation, as issuer (the “Company,” as more fully set forth in Section 1.01) and WILMINGTON TRUST, NATIONAL ASSOCIATION, a national banking association, as trustee (the “Trustee,” as more fully set forth in Section 1.01).

  

  

  In order to declare the terms and conditions upon which the Company’s 1.75% Convertible Senior Notes due 2024 (the “Notes”) are, and are to be, authenticated, issued and delivered, and in consideration of the premises and of the purchase and acceptance of the Notes by the Holders thereof, the
      Company covenants and agrees with the Trustee for the equal and proportionate benefit of the respective Holders from time to time of the Notes (except as otherwise provided below), as follows:

  

  

  ARTICLE 1

  Definitions

  

  

  Section 1.01.
        Definitions.  The terms defined in this Section 1.01 (except as herein otherwise expressly provided or unless the context otherwise requires)
      for all purposes of this Indenture and of any indenture supplemental hereto shall have the respective meanings specified in this Section 1.01.  The words “herein,” “hereof,” “hereunder” and words of similar import refer to this Indenture as a whole
      and not to any particular Article, Section or other subdivision.  The terms defined in this Article include the plural as well as the singular.

  

  

   “Additional Interest” means all amounts, if any,
      payable pursuant to Section 4.06(d), Section 4.06(e) and Section 6.03, as applicable.

  

  

  “Additional Shares” shall have the meaning
      specified in Section 14.03(a).

  

  

  “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.  Notwithstanding anything to the contrary herein, the determination of whether one Person is an “Affiliate” of another Person for
      purposes of this Indenture shall be made based on the facts at the time such determination is made or required to be made, as the case may be, hereunder.

  

  

   “Bid Solicitation Agent” means the Company or the
      Person appointed by the Company to solicit bids for the Trading Price of the Notes in accordance with Section 14.01(b)(i).  The Company shall initially act as the Bid Solicitation Agent.  The Company may, however, appoint another Person as the Bid
      Solicitation Agent (including one of the Company’s Affiliates) without prior notice to the Holders of the Notes.

  

  

  “Board of Directors” means the board of directors
      of the Company or a committee of such board duly authorized to act for it hereunder.

  

  

  
    1

    
      

  

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

  

  

  “Business Day” means, with respect to any Note,
      any day other than a Saturday, a Sunday or a day on which the Federal Reserve Bank of New York is authorized or required by law or executive order to close or be closed.

  

  

  “Capital Stock” means, for any entity, any and all
      shares, interests, rights to purchase, warrants, options, participations or other equivalents of or interests in (however designated) stock issued by that entity.

  

  

  “Cash Settlement” shall have the meaning specified
      in Section 14.02(a).

  

  

  “Clause A Distribution” shall have the meaning
      specified in Section 14.04(c).

  

  

  “Clause B Distribution” shall have the meaning
      specified in Section 14.04(c).

  

  

  “Clause C Distribution” shall have the meaning
      specified in Section 14.04(c).

  

  

   “close of business” means 5:00 p.m. (New York
      City time).

  

  

  “Combination Settlement” shall have the meaning
      specified in Section 14.02(a).

  

  

  “Commission” means the U.S. Securities and
      Exchange Commission.

  

  

  “Common Equity” of any Person means Capital Stock
      of such Person that is generally entitled (a) to vote in the election of directors of such Person or (b) if such Person is not a corporation, to vote or otherwise participate in the selection of the governing body, partners, managers or others that
      will control the management or policies of such Person.

  

  

  “Common Stock” means the common stock of the
      Company, par value $0.001 per share, at the date of this Indenture, subject to Section 14.07.

  

  

  “Company” shall have the meaning specified in the
      first paragraph of this Indenture, and subject to the provisions of Article 11, shall include its successors and assigns.

  

  

  “Company Order” means a written order of the
      Company, signed by the Company’s Chief Executive Officer, President, Chief Financial Officer, Executive or Senior Vice President, any Vice President (whether or not designated by a number or numbers or word or words added before or after the title
      “Vice President”), the Company’s Treasurer or Assistant Treasurer or the Company’s Secretary or any Assistant Secretary, and delivered to the Trustee.

  

  

  “Conversion Agent” shall have the meaning
      specified in Section 4.02.

  

  

  “Conversion Date” shall have the meaning specified
      in Section 14.02(c).

  

  

  “Conversion Obligation” shall have the meaning
      specified in Section 14.01(a).

  

  

  
    2

    
      

  

  “Conversion Price” means as of any time, $1,000, divided by the Conversion Rate as of such time.

  

  

  “Conversion Rate” shall have the meaning specified
      in Section 14.01(a).

  

  

  “Corporate Trust Office” means the office of the
      Trustee at which at any time its corporate trust business shall be administered, which office at the date hereof is located at Wilmington Trust, National Association, Global Capital Markets, 50 South Sixth Street, Suite 1290, Minneapolis, MN 55402,
      Attention:  Vonage Notes Administrator or such other address as the Trustee may designate from time to time by notice to the Holders and the Company, or the principal corporate trust office of any successor trustee (or such other address as such
      successor trustee may designate from time to time by notice to the Holders and the Company).

  

  

  “Custodian” means the Trustee, as custodian for
      The Depository Trust Company, with respect to the Global Notes, or any successor entity thereto.

  

  

  “Daily Conversion Value” means, for each of the 50
      consecutive Trading Days during the Observation Period, 1/50th of the product of (a) the Conversion Rate on such Trading Day and (b) the Daily VWAP for such Trading Day.

  

  

  “Daily Measurement Value” means the Specified
      Dollar Amount (if any), divided by 50.

  

  

  “Daily Settlement Amount,” for each of the 50
      consecutive Trading Days during the Observation Period, shall consist of:

  

  

  (a)          cash in an amount equal to the lesser of (i) the Daily
      Measurement Value and (ii) the Daily Conversion Value on such Trading Day; and

  

  

  (b)          if the Daily Conversion Value on such Trading Day
      exceeds the Daily Measurement Value, a number of shares of Common Stock equal to (i) the difference between the Daily Conversion Value and the Daily Measurement Value, divided by (ii) the Daily VWAP for such Trading Day.

  

  

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

  

  

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

  

  

  
    3

    
      

  

  “Defaulted Amounts” means any amounts on any Note
      (including, without limitation, the Redemption Price, the Fundamental Change Repurchase Price, principal and interest) that are payable but are not punctually paid or duly provided for.

  

  

  “Depositary” means, with respect to each Global
      Note, the Person specified in Section 2.05(c) as the Depositary with respect to such Notes, until a successor shall have been appointed and become such pursuant to the applicable provisions of this Indenture, and thereafter, “Depositary” shall mean or include such successor.

  

  

  “Distributed Property” shall have the meaning
      specified in Section 14.04(c).

  

  

   “Effective Date” shall have the meaning specified in Section 14.03(c), except that, as used in Section 14.04 and Section 14.05, “Effective Date” means the first date on which shares of the Common Stock trade on the applicable exchange or in the applicable market, regular way,
      reflecting the relevant share split or share combination, as applicable.

  

  

  “Event of Default” shall have the meaning
      specified in Section 6.01.

  

  

  “Ex-Dividend Date” means the first date on which
      shares of the Common Stock trade on the applicable exchange or in the applicable market, regular way, without the right to receive the issuance, dividend or distribution in question, from the Company or, if applicable, from the seller of Common Stock
      on such exchange or market (in the form of due bills or otherwise) as determined by such exchange or market.

  

  

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

  

  

  “Form of Assignment and Transfer” means the “Form
      of Assignment and Transfer” attached as Attachment 3 to the Form of Note attached hereto as Exhibit A.

  

  

  “Form of Fundamental Change Repurchase Notice”
      means the “Form of Fundamental Change Repurchase Notice” attached as Attachment 2 to the Form of Note attached hereto as Exhibit A.

  

  

  “Form of Note” means the “Form of Note” attached
      hereto as Exhibit A.

  

  

  “Form of Notice of Conversion” means the “Form of
      Notice of Conversion” attached as Attachment 1 to the Form of Note attached hereto as Exhibit A.

  

  

  “Fundamental Change” shall be deemed to have
      occurred at the time after the Notes are originally issued if any of the following occurs prior to the Maturity Date:

  

  

  (a)          a “person” or “group” within the meaning of Section
      13(d) of the Exchange Act, other than the Company and its direct or indirect Wholly-Owned Subsidiaries, files a Schedule TO or any schedule, form or report under the Exchange Act disclosing that such person or group has become the direct or indirect
      “beneficial owner,” as defined in Rule 13d-3 under the Exchange Act, of the Company’s Common Equity representing more than 50% of the voting power of the Common Stock;

  

  

  
    4

    
      

  

  (b)          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, stock, other securities, other property or assets (other
      than a transaction described in clause (B)); (B) any share exchange, consolidation or merger of the Company pursuant to which the Common Stock will be converted into cash, securities or other property or assets; or (C) any sale, lease or other
      transfer in one transaction or a series of transactions of all or substantially all of the consolidated assets of the Company and its Subsidiaries, taken as a whole, to any Person other than one of the Company’s direct or indirect Wholly-Owned
      Subsidiaries; provided, however, that a transaction described in clauses (A) or (B) in which the holders of all classes of the Company’s Common
      Equity 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 (b);

  

  

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

  

  

  (d)          the Common Stock (or other common stock underlying the
      Notes) ceases to be listed or quoted on any of The New York Stock Exchange, The NASDAQ Global Select Market or The NASDAQ Global Market (or any of their respective successors);

  

  

  provided, however, that a transaction or transactions described in clause (b) above shall not constitute a Fundamental Change, if at least 90% of the consideration received or to be received by the common stockholders
      of the Company, excluding cash payments for fractional shares and cash payments made in respect of dissenters’ statutory appraisal rights, in connection with such transaction or transactions consists of shares of common stock that are listed or
      quoted on any of The New York Stock Exchange, The Nasdaq Global Select Market or The Nasdaq Global Market (or any of their respective successors) or will be so listed or quoted when issued or exchanged in connection with such transaction or
      transactions and as a result of such transaction or transactions the Notes become convertible into such consideration, excluding cash payments for fractional shares and cash payments made in respect of dissenters’ statutory appraisal rights (subject
      to the provisions of Section 14.02(a)).  If any transaction in which the Common Stock is replaced by the securities of another entity occurs, following completion of any related Make-Whole Fundamental Change Period (or, in the case of a transaction
      that would have been a Fundamental Change or a Make-Whole Fundamental Change but for the proviso immediately following clause (d) of the definition
      thereof, following the effective date of such transaction) references to the Company in this definition shall instead be references to such other entity.

  

  

  For the purposes of the definition of “Fundamental Change”, any transaction that constitutes a Fundamental Change pursuant to both clause (a) and (b)
      of such definition (prior to giving effect to the proviso to clause (b) of such definition) shall be deemed a transaction solely under clause (b) of such definition (and, for the avoidance of doubt, will be subject to the proviso to clause (b) of
      such definition).

  

  

  
    5

    
      

  

  “Fundamental Change Company Notice” shall have the
      meaning specified in Section 15.02(c).

  

  

  “Fundamental Change Repurchase Date” shall have
      the meaning specified in Section 15.02(a).

  

  

  “Fundamental Change Repurchase Notice” shall have
      the meaning specified in Section 15.02(b)(i).

  

  

  “Fundamental Change Repurchase Price” shall have
      the meaning specified in Section 15.02(a).

  

  

  “Global Note” shall have the meaning specified in
      Section 2.05(b).

  

  

  “Holder,” as applied to any Note, or other similar
      terms (but excluding the term “beneficial holder”), means any Person in whose name at the time a particular Note is registered on the Note Register.

  

  

  “Indenture” means this instrument as originally
      executed or, if amended or supplemented as herein provided, as so amended or supplemented.

  

  

  “Initial Purchasers” means J.P Morgan Securities
      LLC and Morgan Stanley & Co. LLC.

  

  

  “Interest Payment Date” means each June 1 and
      December 1 of each year, beginning on December 1, 2019.

  

  

  “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 principal U.S. national or regional securities exchange on which the Common Stock is traded.  If the Common Stock is not listed for trading on a U.S. national or regional securities exchange on the relevant date, the
      “Last Reported Sale Price” shall be the last quoted bid price for the Common Stock in the over-the-counter market on the relevant date as reported by
      OTC Markets Group Inc. or a similar organization.  If the Common Stock is not so quoted, the “Last Reported Sale Price” shall 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 three nationally recognized independent investment banking firms selected by the Company for this purpose.  The “Last Reported Sale Price” will be determined without regard for after-hours trading or any other trading outside of regular session hours.

  

  

  “Make-Whole Fundamental Change” means any
      transaction or event that constitutes a Fundamental Change (as defined above and determined after giving effect to any exceptions to or exclusions from such definition, but without regard to the proviso in clause (b) of the definition thereof).

  

  

  “Make-Whole Fundamental Change Period” shall have
      the meaning specified in Section 14.03(a).

  

  

  
    6

    
      

  

  “Market Disruption Event” means, for the purposes
      of determining amounts due upon conversion (a) a failure by the primary U.S. national or regional securities exchange or market on which the Common Stock is listed or admitted for trading to open for trading during its regular trading session or (b)
      the occurrence or existence prior to 1:00 p.m., New York City time, on any Scheduled Trading Day for the Common Stock for more than one half-hour period in the aggregate during regular trading hours of any suspension or limitation imposed on trading
      (by reason of movements in price exceeding limits permitted by the relevant stock exchange or otherwise) in the Common Stock or in any options contracts or futures contracts relating to the Common Stock.

  

  

  “Maturity Date” means June 1, 2024.

  

  

  “Measurement Period” shall have the meaning
      specified in Section 14.01(b)(i).

  

  

  “Merger Event” shall have the meaning specified in
      Section 14.07(a).

  

  

  “Note” or “Notes” shall have the meaning specified in the first paragraph of the recitals of this Indenture.

  

  

  “Note Register” shall have the meaning specified
      in Section 2.05(a).

  

  

  “Note Registrar” shall have the meaning specified
      in Section 2.05(a).

  

  

  “Notice of Conversion” shall have the meaning
      specified in Section 14.02(b).

  

  

  “Notice of Redemption” shall have the meaning
      specified in Section 16.02(a).

  

  

  “Observation Period” with respect to any Note
      surrendered for conversion means: (i) subject to clause (ii) of this definition, if the relevant Conversion Date occurs prior to the 55th Scheduled Trading Day immediately preceding the Maturity Date, the 50 consecutive Trading Day period beginning
      on, and including, the second Trading Day immediately succeeding such Conversion Date; (ii) if the relevant Conversion Date occurs on or after the date of the Company’s issuance of a Notice of Redemption with respect to any Notes pursuant to Section
      16.02 and prior to the relevant Redemption Date, the 50 consecutive Trading Day period beginning on, and including, the 51st Scheduled Trading Day immediately preceding
      such Redemption Date; and (iii) if the relevant Conversion Date occurs on or after the 55th Scheduled Trading Day immediately preceding the Maturity Date, the 50
      consecutive Trading Days beginning on, and including, the 51st Scheduled Trading Day immediately preceding the Maturity Date.

  

  

  “Offering Memorandum” means the preliminary
      offering memorandum dated June 10, 2019, as supplemented by the related pricing term sheet dated June 11, 2019, relating to the offering and sale of the Notes.

  

  

  “Officer” means, with respect to the Company, the
      President, the Chief Executive Officer, the Chief Financial Officer, the Chief Accounting Officer, the Treasurer, the Secretary, any Executive or Senior Vice President or any Vice President (whether or not designated by a number or numbers or word or
      words added before or after the title “Vice President”).

  

  

  
    7

    
      

  

  “Officer’s Certificate,” when used with respect to
      the Company, means a certificate that is delivered to the Trustee and that is signed by an Officer of the Company.  Each such certificate shall include the statements provided for in Section 17.05 if and to the extent required by the provisions of
      such Section.  The Officer giving an Officer’s Certificate pursuant to Section 4.08 shall be the principal executive, financial or accounting officer of the Company.

  

  

  “open of business” means 9:00 a.m. (New York City
      time).

  

  

  “Opinion of Counsel” means an opinion in writing
      signed by legal counsel, who may be an employee of or counsel to the Company, or other counsel reasonably acceptable to the Trustee, that is delivered to the Trustee, which opinion may contain customary exceptions and qualifications as to the matters
      set forth therein.  Each such opinion shall include the statements provided for in Section 17.05 if and to the extent required by the provisions of such Section 17.05.

  

  

  “Optional Redemption” shall have the meaning
      specified in Section 16.01.

  

  

  “outstanding,” when used with reference to Notes,
      shall, subject to the provisions of Section 8.04, mean, as of any particular time, all Notes authenticated and delivered by the Trustee under this Indenture, except:

  

  

  (a)          Notes theretofore canceled by the Trustee or accepted by
      the Trustee for cancellation;

  

  

  (b)          Notes, or portions thereof, that have become due and
      payable and in respect of which monies in the necessary amount shall have been deposited in trust with the Trustee or with any Paying Agent (other than the Company) or shall have been set aside and segregated in trust by the Company (if the Company
      shall act as its own Paying Agent);

  

  

  (c)          Notes that have been paid pursuant to Section 2.06 or
      Notes in lieu of which, or in substitution for which, other Notes shall have been authenticated and delivered pursuant to the terms of Section 2.06 unless proof satisfactory to the Trustee is presented that any such Notes are held by protected
      purchasers in due course;

  

  

  (d)          Notes converted pursuant to Article 14 and required to be cancelled pursuant to Section 2.08;

  

  

  (e)          Notes redeemed pursuant to Article 16; and

  

  

  (f)          Notes repurchased by the Company pursuant to the
      penultimate sentence of Section 2.10.

  

  

  “Paying Agent” shall have the meaning specified in
      Section 4.02.

  

  

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

  

  

  
    8

    
      

  

  “Physical Notes” means permanent certificated
      Notes in registered form issued in minimum denominations of $1,000 principal amount and integral multiples of $1,000 in excess thereof.

  

  

  “Physical Settlement” shall have the meaning
      specified in Section 14.02(a).

  

  

  “Predecessor Note” of any particular Note means
      every previous Note evidencing all or a portion of the same debt as that evidenced by such particular Note; and, for the purposes of this definition, any Note authenticated and delivered under Section 2.06 in lieu of or in exchange for a mutilated,
      lost, destroyed or stolen Note shall be deemed to evidence the same debt as the mutilated, lost, destroyed or stolen Note that it replaces.

  

  

  “Purchase Agreement” means that certain Purchase
      Agreement, dated as of June 11, 2019 among the Company and the Initial Purchasers relating to the issuance and sale of the Notes.

  

  

  “Record Date” means, with respect to any dividend,
      distribution or other transaction or event in which the holders of 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, by statute, by contract or otherwise).

  

  

  “Redemption Date” shall have the meaning specified
      in Section 16.02(a).

  

  

  “Redemption Price” means, for any Notes to be
      redeemed pursuant to Section 16.01, 100% of the aggregate principal amount of such Notes, plus accrued and unpaid interest, if any, to, but
      excluding, the Redemption Date (unless the Redemption Date falls after a Regular Record Date but on or prior to the immediately succeeding Interest Payment Date, in which case interest accrued to the Interest Payment Date will be paid on such
      Redemption Date to Holders of record of such Notes on such Regular Record Date, and the Redemption Price will be equal to 100% of the aggregate principal amount of such Notes and will not include accrued and unpaid interest on such Note to, but not
      including, such Redemption Date). The Redemption Price will be paid in cash (without penalty or premium).

  

  

  “Reference Property” shall have the meaning
      specified in Section 14.07(a).

  

  

  “Regular Record Date,” with respect to any
      Interest Payment Date, means the May 15 or November 15 (whether or not such day is a Business Day) immediately preceding the applicable June 1 or December 1 Interest Payment Date, respectively.

  

  

   “Resale Restriction Termination Date” shall have
      the meaning specified in Section 2.05(c).

  

  

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

  

  

  
    9

    
      

  

  “Restricted Securities” shall have the meaning
      specified in Section 2.05(c).

  

  

  “Rule 144” means Rule 144 as promulgated under the
      Securities Act.

  

  

  “Rule 144A” means Rule 144A as promulgated under
      the Securities Act.

  

  

  “Scheduled Trading Day” means a day that is
      scheduled to be a Trading Day on the principal U.S. national or regional securities exchange or market on which the Common Stock is listed or admitted for trading.  If the Common Stock is not so listed or admitted for trading, “Scheduled Trading Day” means a Business Day.

  

  

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

  

  

  “Settlement Amount” has the meaning specified in Section 14.02(a)(iv).

  

  

  “Settlement Method” means, with respect to any
      conversion of Notes, Physical Settlement, Cash Settlement or Combination Settlement, as elected (or deemed to have been elected) by the Company.

  

  

  “Settlement Notice” has the meaning specified in
      Section 14.02(a)(iii).

  

  

  “Significant Subsidiary” means a Subsidiary of the
      Company that meets the definition of “significant subsidiary” in Article 1, Rule 1-02(w) of Regulation S-X under the Exchange Act.

  

  

  “Shelf Registration Statement” means a
      registration statement of the Company filed with the Commission on either (i) Form S-3 (or any successor form or other appropriate form under the Securities Act) or (ii) if the Company is not permitted to file a registration statement on Form S-3, a
      registration statement on Form S-1 (or any successor form or other appropriate form under the Securities Act), in each case for an offering to be made on a continuous or delayed basis pursuant to Rule 415 under the Securities Act covering the Notes
      and the shares of Common Stock issuable upon conversion of the Notes.

  

  

  “Specified Dollar Amount” means the maximum cash
      amount per $1,000 principal amount of Notes to be received upon conversion as specified in the Settlement Notice related to any converted Notes.

  

  

  “Spin-Off” shall have the meaning specified in
      Section 14.04(c).

  

  

  “Stock Price” shall have the meaning specified in
      Section 14.03(c).

  

  

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

  

  

  
    10

    
      

  

   “Successor Company” shall have the meaning
      specified in Section 11.01(a).

  

  

   “Trading Day” means a day on which (i) trading in
      the Common Stock (or other security for which a closing sale price must be determined) generally occurs on The New York Stock Exchange or, if the Common Stock (or such other security) is not then listed on The New York Stock Exchange, on the
      principal other U.S. national or regional securities exchange on which the Common Stock (or such other security) is then listed or, if the Common Stock (or such other security) are not then listed on a U.S. national or regional securities exchange,
      on the principal other market on which the Common Stock (or such other security) is then traded and (ii) a Last Reported Sale Price for the Common Stock (or such other security) is available on such securities exchange or market; provided that if the Common Stock (or such other security) is not so listed or traded, “Trading Day” means a Business Day; and provided, further, that for purposes of determining amounts due upon conversion only, “Trading Day” means a day on
      which (x) there is no Market Disruption Event and (y) trading in the Common Stock generally occurs on The New York Stock Exchange or, if the Common Stock is not then listed on The New York Stock Exchange, on the principal other U.S. national or
      regional securities exchange on which the Common Stock is then listed or, if the Common Stock is not then listed on a U.S. national or regional securities exchange, on the principal other market on which the Common Stock is then listed or admitted
      for trading, except that if the Common Stock is not so listed or admitted for trading, “Trading Day” means a Business Day.

  

  

  “Trading Price” of the Notes on any date of
      determination means the average of the secondary market bid quotations per $1,000 principal amount of the Notes obtained by the Bid Solicitation Agent for $1,000,000 aggregate 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 the Company selects for this purpose; 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 $1,000,000 aggregate principal amount of Notes from a nationally recognized securities dealer on any determination date, then the Trading Price per $1,000
      principal amount of Notes on such determination date shall be deemed to be less than 98% of the product of the Last Reported Sale Price of the Common Stock and the Conversion Rate.

  

  

  “transfer” shall have the meaning specified in
      Section 2.05(c).

  

  

  “Trigger Event” shall have the meaning specified
      in Section 14.04(c).

  

  

  “Trust Indenture Act” means the Trust Indenture
      Act of 1939, as amended, as it was in force at the date of execution of this Indenture; provided, however, that in the event the Trust Indenture Act of 1939 is amended after the date hereof, the term “Trust Indenture Act” shall mean, to the extent required by such amendment, the Trust
      Indenture Act of 1939, as so amended.

  

  

  
    11

    
      

  

  “Trustee” means the Person named as the “Trustee” in the first paragraph of this Indenture until a successor trustee shall have become such pursuant to the applicable provisions of this Indenture,
      and thereafter “Trustee” shall mean or include each Person who is then a Trustee hereunder.

  

  

  “unit of Reference Property” shall have the
      meaning specified in Section 14.07(a).

  

  

  “Valuation Period” shall have the meaning
      specified in Section 14.04(c).

  

  

  “Wholly-Owned Subsidiary” means, with respect to
      any Person, any Subsidiary of such Person, except that, solely for purposes of this definition, the reference to “more than 50%” in the definition of “Subsidiary” shall be deemed replaced by a reference to “100%”.

  

  

  Section 1.02. References to Interest.  Unless the context otherwise requires, any reference to interest on, or in respect of, any Note in this Indenture shall be deemed to include Additional Interest if, in such
      context, Additional Interest is, was or would be payable pursuant to any of Section 4.06(d), Section 4.06(e) and Section 6.03. Unless the context otherwise requires, any express mention of Additional Interest in any provision hereof shall not be
      construed as excluding Additional Interest in those provisions hereof where such express mention is not made.

  

  

  ARTICLE 2

  Issue, Description, Execution, Registration and Exchange of Notes

  

  

  Section 2.01. Designation and Amount.  The Notes shall be designated as
      the “1.75% Convertible Senior Notes due 2024.” The aggregate principal amount of Notes that may be authenticated and delivered under this Indenture is initially limited to  $300,000,000

      (as increased by an amount equal to the aggregate principal amount of any additional Notes purchased by the Initial Purchasers pursuant to the exercise of their option to purchase additional Notes as set forth in the Purchase Agreement), subject to
      Section 2.10 and except for Notes authenticated and delivered upon registration or transfer of, or in exchange for, or in lieu of other Notes to the extent expressly permitted hereunder.

  

  

  Section 2.02. Form of Notes.  The Notes and the Trustee’s certificate of
      authentication to be borne by such Notes shall be substantially in the respective forms set forth in Exhibit A, the terms and provisions of which shall constitute, and are hereby expressly incorporated in and made a part of this Indenture.  To the
      extent applicable, the Company and the Trustee, by their execution and delivery of this Indenture, expressly agree to such terms and provisions and to be bound thereby. In the case of any conflict between this Indenture and a Note, the provisions of
      this Indenture shall control and govern to the extent of such conflict.

  

  

  Any Global Note may be endorsed with or have incorporated in the text thereof such legends or recitals or changes not inconsistent with the
      provisions of this Indenture as may be required by the Custodian or the Depositary, or as may be required to comply with any applicable law or any regulation thereunder or with the rules and regulations of any securities exchange or automated
      quotation system upon which the Notes may be listed or traded or designated for issuance or to conform with any usage with respect thereto, or to indicate any special limitations or restrictions to which any particular Notes are subject.

  

  

  
    12

    
      

  

  Any of the Notes may have such letters, numbers or other marks of identification and such notations, legends or endorsements as the Officer executing
      the same may approve (execution thereof to be conclusive evidence of such approval) and as are not inconsistent with the provisions of this Indenture, or as may be required to comply with any law or with any rule or regulation made pursuant thereto
      or with any rule or regulation of any securities exchange or automated quotation system on which the Notes may be listed or designated for issuance, or to conform to usage or to indicate any special limitations or restrictions to which any particular
      Notes are subject.  The Company shall notify the Trustee if it takes action to have the Notes listed on a securities exchange.

  

  

  Each Global Note shall represent such principal amount of the outstanding Notes as shall be specified therein and 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 increased or reduced to reflect redemptions,
      repurchases, cancellations, conversions, transfers or exchanges permitted hereby.  Any endorsement 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
      or the Custodian, at the direction of the Trustee, in such manner and upon instructions given by the Holder of such Notes in accordance with this Indenture.  Payment of principal (including the Redemption Price and the Fundamental Change Repurchase
      Price, if applicable) of, and accrued and unpaid interest on, a 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.

  

  

  Section 2.03. Date and Denomination of Notes; Payments of Interest and
        Defaulted Amounts.  (a)  The Notes shall be issuable in registered form without coupons in minimum denominations of $1,000 principal amount and integral multiples of $1,000 in excess thereof.  Each Note shall be dated the date of its
      authentication and shall bear interest from the date specified on the face of such Note.  Accrued interest on the Notes shall be computed on the basis of a 360-day year composed of twelve 30-day months and, for partial months, on the basis of the
      number of days actually elapsed in a 30-day month.

  

  

  (b)          The Person in whose name any Note (or its Predecessor
      Note) is registered on the Note Register at the close of business on any Regular Record Date with respect to any Interest Payment Date shall be entitled to receive the interest payable on such Interest Payment Date.  The principal amount of any Note
      (x) in the case of any Physical Note, shall be payable at the office or agency of the Company designated by the Company for such purposes in the continental United States, which shall initially be the Corporate Trust Office and (y) in the case of any
      Global Note, shall be payable by wire transfer of immediately available funds to the account of the Depositary or its nominee.  The Company shall pay or cause the Paying Agent to pay interest (i) on any Physical Notes (A) to Holders holding Physical
      Notes having an aggregate principal amount of $1,000,000 or less, by check mailed to the Holders of such Notes at their address as it appears in the Note Register and (B) to Holders holding Physical Notes having an aggregate principal amount of more
      than $1,000,000, either by check mailed to each such Holder or, upon written application by such a Holder to the Note Registrar not later than the relevant Regular Record Date, by wire transfer in immediately available funds to such Holder’s account
      within the United States, which application shall provide the requisite information to the Trustee and the Paying Agent (if other than the Trustee) to make such wire transfer and shall remain in effect until the Holder notifies, in writing, the Note
      Registrar to the contrary or (ii) on any Global Note by wire transfer of immediately available funds to the account of the Depositary or its nominee.

  

  

  
    13

    
      

  

  (c)          Any Defaulted Amounts shall forthwith cease to be
      payable to the Holder on the relevant payment date but shall accrue interest per annum at the rate borne by the Notes, subject to the enforceability thereof under applicable law, from, and including, such relevant payment date, and such Defaulted
      Amounts together with such interest thereon shall be paid by the Company, at its election in each case, as provided in clause (i) or (ii) below:

  

  

  (i)          The Company may elect to make payment
      of or cause the Paying Agent to make payment of any Defaulted Amounts to the Persons in whose names the Notes (or their respective Predecessor Notes) are registered at the close of business on a special record date for the payment of such Defaulted
      Amounts, which shall be fixed in the following manner.  The Company shall notify the Trustee in writing of the amount of the Defaulted Amounts proposed to be paid on each Note and the date of the proposed payment (which shall be not less than 25 days
      after the receipt by the Trustee of such notice, unless the Trustee shall consent to an earlier date), and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount to be paid in respect of such
      Defaulted Amounts or shall make arrangements satisfactory to the Trustee for such deposit on or prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Amounts
      as in this clause provided.  Thereupon the Company shall fix a special record date for the payment of such Defaulted Amounts which shall be not more than 15 days and not less than 10 days prior to the date of the proposed payment, and not less than
      10 days after the receipt by the Trustee of the notice of the proposed payment.  The Company shall promptly notify the Trustee of such special record date at least five (5) Business Days before such notice is to be sent to the Holders, and the
      Trustee, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Amounts and the special record date therefor to be delivered to each Holder not less than 10 days prior to such special record date. 
      Notice of the proposed payment of such Defaulted Amounts and the special record date therefor having been so sent, such Defaulted Amounts shall be paid to the Persons in whose names the Notes (or their respective Predecessor Notes) are registered at
      the close of business on such special record date and shall no longer be payable pursuant to the following clause (ii) of this Section 2.03(c).

  

  

  (ii)          The Company may make payment of or
      cause the Paying Agent to make payment of any Defaulted Amounts in any other lawful manner not inconsistent with the requirements of any securities exchange or automated quotation system on which the Notes may be listed or designated for issuance,
      and upon such notice as may be required by such exchange or automated quotation system, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the
      Trustee.

  

  

  
    14

    
      

  

  Section 2.04. Execution, Authentication and Delivery of Notes.  The Notes shall be signed in the name and on behalf of the
      Company by the manual or facsimile signature of its Chief Executive Officer, President, Chief Financial Officer, Treasurer, Secretary or any of its Executive or Senior Vice Presidents.

  

  

  At any time and from time to time after the execution and delivery of this Indenture, the Company may deliver Notes executed by the Company to the
      Trustee for authentication, together with a Company Order for the authentication and delivery of such Notes, and the Trustee in accordance with such Company Order shall authenticate and deliver such Notes, without any further action by the Company
      hereunder.

  

  

  Only such Notes as shall bear thereon a certificate of authentication substantially in the form set forth on the Form of Note attached as Exhibit A
      hereto, executed manually by an authorized officer of the Trustee (or an authenticating agent appointed by the Trustee as provided by Section 17.10), shall be entitled to the benefits of this Indenture or be valid or obligatory for any purpose.  Such
      certificate by the Trustee (or such an authenticating agent) upon any Note executed by the Company shall be conclusive evidence that the Note so authenticated has been duly authenticated and delivered hereunder and that the Holder is entitled to the
      benefits of this Indenture.

  

  

  In case any Officer of the Company who shall have signed any of the Notes shall cease to be such Officer before the Notes so signed shall have been
      authenticated and delivered by the Trustee, or disposed of by the Company, such Notes nevertheless may be authenticated and delivered or disposed of as though the Person who signed such Notes had not ceased to be such Officer of the Company; and any
      Note may be signed on behalf of the Company by such Persons as, at the actual date of the execution of such Note, shall be the Officers of the Company, although at the date of the execution of this Indenture any such Person was not such an Officer.

  

  

  Section 2.05. Exchange and Registration of Transfer of Notes; Restrictions on Transfer; Depositary.  (a)  The Company shall cause
      to be kept at the Corporate Trust Office a register (the register maintained in such office or in any other office or agency of the Company designated pursuant to Section 4.02,
      the “Note Register”) in which, subject to such reasonable regulations as it may prescribe, the Company shall provide for the registration of
      Notes and of transfers of Notes.  Such register shall be in written form or in any form capable of being converted into written form within a reasonable period of time.  The Trustee is hereby initially appointed the “Note Registrar” for the purpose of registering Notes and transfers of Notes as herein provided.  The Company may appoint one or more co-Note Registrars in accordance with Section
      4.02.

  

  

  Upon surrender for registration of transfer of any Note to the Note Registrar or any co-Note Registrar, and satisfaction of the requirements for such
      transfer set forth in this Section 2.05, the Company shall execute, and the Trustee shall authenticate and deliver, in the name of the designated transferee or transferees, one or more new Notes of any authorized denominations and of a like aggregate
      principal amount and bearing such restrictive legends as may be required by this Indenture.

  

  

  
    15

    
      

  

  Notes may be exchanged for other Notes of any authorized denominations and of a like aggregate principal amount, upon surrender of the Notes to be
      exchanged at any such office or agency maintained by the Company pursuant to Section 4.02.  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.

  

  

  All Notes presented or surrendered for registration of transfer or for exchange, repurchase or conversion shall (if so required by the Company, the
      Trustee, the Note Registrar or any co-Note Registrar) be duly endorsed, or be accompanied by a written instrument or instruments of transfer in form satisfactory to the Note Registrar and duly executed, by the Holder thereof or its attorney-in-fact
      duly authorized in writing.

  

  

  No service charge shall be imposed by the Company, the Trustee, the Note Registrar, any co-Note Registrar or the Paying Agent for any exchange or
      registration of transfer of Notes, but the Company may require a Holder to pay a sum sufficient to cover any documentary, stamp or similar issue or transfer tax required in connection therewith as a result of the name of the Holder of new Notes
      issued upon such exchange or registration of transfer being different from the name of the Holder of the old Notes surrendered for exchange or registration of transfer or otherwise required by law.

  

  

  None of the Company, the Trustee, the Note Registrar or any co-Note Registrar shall be required to exchange or register a transfer of (i) any Notes
      surrendered for conversion or, if a portion of any Note is surrendered for conversion, such portion thereof surrendered for conversion, (ii) any Notes, or a portion of any Note, surrendered for repurchase (and not withdrawn) in accordance with
      Article 15 or (iii) any Notes selected for Optional Redemption in accordance with Article 16, except the unredeemed portion of any Note being redeemed in part.  Any transfer or
        exchange of beneficial interests in a Global Note shall be subject to the applicable procedures of the Depositary.

  

  

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

  

  

  (b)          So long as the Notes are eligible for book-entry
      settlement with the Depositary, unless otherwise required by law, subject to the fourth paragraph from the end of Section 2.05(c) all Notes shall be represented by one or more Notes in global form (each, a “Global Note”) registered in the name of the Depositary or the nominee of the Depositary.  The transfer and exchange of beneficial interests in a Global Note that does not involve the issuance
      of a Physical Note shall be effected through the Depositary (but not the Trustee or the Custodian) in accordance with this Indenture (including the restrictions on transfer set forth herein) and the procedures of the Depositary therefor.

  

  

  (c)          Every Note that bears or is required under this Section
      2.05(c) to bear the legend set forth in this Section 2.05(c) (together with any shares of Common Stock issued upon conversion of the Notes that is required to bear the legend set forth in Section 2.05(d), collectively, the “Restricted Securities”) shall be subject to the restrictions on transfer set forth in this Section 2.05(c) (including those restrictions set forth in the legend set forth
      below), unless such restrictions on transfer shall be eliminated or otherwise waived by written consent of the Company, and the Holder of each such Restricted Security, by such Holder’s acceptance thereof, agrees to be bound by all such restrictions
      on transfer.  As used in this Section 2.05(c) and Section 2.05(d), the term “transfer” encompasses any sale, pledge, transfer or other disposition
      whatsoever of any Restricted Security.

  

  

  
    16

    
      

  

  Until the date (the “Resale Restriction Termination Date”)

      that is the later of (1) the date that is one year after the last date of original issuance of the Notes, or such shorter period of time as permitted by Rule 144 or any successor provision thereto, and (2) such later date, if any, as may be required
      by applicable law, any certificate evidencing such Note (and all securities issued in exchange therefor or substitution thereof, other than Common Stock, if any, issued upon conversion thereof, which shall bear the legend set forth in Section
      2.05(d), if applicable) shall bear a legend in substantially the following form (unless such Notes have been transferred pursuant to a registration statement that has become or been declared effective under the Securities Act and that continues to be
      effective at the time of such transfer, or sold pursuant to the exemption from registration provided by Rule 144 or any similar provision then in force under the Securities Act, or unless otherwise agreed by the Company in writing, with notice
      thereof to the Trustee in the form set forth in Exhibit B attached hereto):

  

  

  THIS SECURITY AND THE SHARES OF COMMON STOCK, IF ANY, ISSUABLE UPON CONVERSION OF THIS SECURITY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
      1933, AS AMENDED (THE “SECURITIES ACT”), AND MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT IN ACCORDANCE WITH THE FOLLOWING
      SENTENCE. BY ITS ACQUISITION HEREOF OR OF A BENEFICIAL INTEREST HEREIN, THE ACQUIRER:

  

  

  (1)          REPRESENTS THAT IT AND ANY ACCOUNT
      FOR WHICH IT IS ACTING IS A “QUALIFIED INSTITUTIONAL BUYER” (WITHIN THE MEANING OF RULE 144A UNDER THE SECURITIES ACT) AND THAT IT EXERCISES SOLE INVESTMENT DISCRETION WITH RESPECT TO EACH SUCH ACCOUNT, AND

  

  

  (2)          AGREES FOR THE BENEFIT OF VONAGE
      HOLDINGS CORP. (THE “COMPANY”) THAT IT WILL NOT OFFER, SELL, PLEDGE OR OTHERWISE TRANSFER THIS SECURITY OR ANY BENEFICIAL INTEREST HEREIN PRIOR TO THE DATE THAT IS THE LATER OF (X) ONE YEAR AFTER THE LAST ORIGINAL ISSUE DATE HEREOF OR SUCH SHORTER
      PERIOD OF TIME AS PERMITTED BY RULE 144 UNDER THE SECURITIES ACT OR ANY SUCCESSOR PROVISION THERETO AND (Y) SUCH LATER DATE, IF ANY, AS MAY BE REQUIRED BY APPLICABLE LAW, EXCEPT:

  

  

  (A)          TO THE COMPANY OR ANY SUBSIDIARY
      THEREOF, OR

  

  

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

  

  

  
    17

    
      

  

  (C)          TO A QUALIFIED INSTITUTIONAL BUYER IN
      COMPLIANCE WITH RULE 144A UNDER THE SECURITIES ACT, OR

  

  

  (D)          PURSUANT TO AN EXEMPTION FROM
      REGISTRATION PROVIDED BY RULE 144 UNDER THE SECURITIES ACT OR ANY OTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.

  

  

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

  

  

  No transfer of any Note prior to the Resale Restriction Termination Date will be registered by the Note Registrar unless the applicable box on the
      Form of Assignment and Transfer has been checked.

  

  

  Any Note (or security issued in exchange or substitution therefor) (i) as to which such restrictions on transfer shall have expired in accordance
      with their terms, (ii) that has been transferred pursuant to a registration statement that has become effective or been declared effective under the Securities Act and that continues to be effective at the time of such transfer or (iii) that has been
      sold pursuant to the exemption from registration provided by Rule 144 or any similar provision then in force under the Securities Act, may, upon surrender of such Note for exchange to the Note Registrar in accordance with the provisions of this
      Section 2.05, be exchanged for a new Note or Notes, of like tenor and aggregate principal amount, which shall not bear the restrictive legend required by this Section 2.05(c)
        and shall not be assigned a restricted CUSIP number. The Company shall be entitled to instruct the Custodian in writing to so surrender any Global Note as to which any of the conditions set forth in clause (i) through (iii) of the immediately
        preceding sentence have been satisfied, and, upon such instruction, the Custodian shall so surrender such Global Note for exchange in accordance with the applicable procedures of the Depositary; and any new Global Note so exchanged therefor shall
        not bear the restrictive legend specified in this Section 2.05(c) and shall not be assigned a restricted CUSIP number.  The Company shall promptly notify the
      Trustee in writing (in the form set forth in Exhibit B) upon the occurrence of the Resale Restriction Termination Date and promptly after a registration statement, if any, 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.  Upon notice of the Resale Restriction Termination Date, the legend set forth above shall be deemed removed from the Note, with no further action required by the Company, the Trustee,
      or, if applicable, the Depositary; provided, however, that, if the mandatory exchange process of the Depositary is available therefor, the Company
      will use reasonable efforts to effect an exchange of every beneficial interest in each Restricted Security for beneficial interests in Global Notes that are not subject to the restrictions set forth in the restrictive legend or this Section 2.05(c)
      pursuant to such process on or prior to the 370th day after the last date of original issuance of the Notes.

  

  

  
    18

    
      

  

  Notwithstanding any other provisions of this Indenture (other than the provisions set forth in this Section 2.05(c)), a Global Note may not be
      transferred as a whole or in part except (i) by the Depositary to a nominee of the Depositary or by a nominee of the Depositary to the Depositary or another nominee of the Depositary or by the Depositary or any such nominee to a successor Depositary
      or a nominee of such successor Depositary and (ii) for exchange of a Global Note or a portion thereof for one or more Physical Notes in accordance with the second immediately succeeding paragraph.

  

  

  The Depositary shall be a clearing agency registered under the Exchange Act.  The Company initially appoints The Depository Trust Company to act as
      Depositary with respect to each Global Note.  Initially, each Global Note shall be issued to the Depositary, registered in the name of Cede & Co., as the nominee of the Depositary, and deposited with the Trustee as custodian for Cede & Co.

  

  

  If (i) the Depositary notifies the Company at any time that the Depositary is unwilling or unable to continue as depositary for the Global Notes and
      a successor depositary is not appointed within 90 days, (ii) the Depositary ceases to be registered as a clearing agency under the Exchange Act and a successor depositary is not appointed within 90 days or (iii) an Event of Default with respect to
      the Notes has occurred and is continuing and a beneficial owner of any Note requests that its beneficial interest therein be issued as a Physical Note, the Company shall execute, and the Trustee, upon receipt of an Officer’s Certificate and a Company
      Order for the authentication and delivery of Notes, shall authenticate and deliver (x) in the case of clause (iii), a Physical Note to such beneficial owner in a principal amount equal to the principal amount of such Note corresponding to such
      beneficial owner’s beneficial interest and (y) in the case of clause (i) or (ii), Physical Notes to each beneficial owner of the related Global Notes (or a portion thereof) in an aggregate principal amount equal to the aggregate principal amount of
      such Global Notes in exchange for such Global Notes, and upon delivery of the Global Notes to the Trustee such Global Notes shall be canceled.

  

  

  Physical Notes issued in exchange for all or a part of the Global Note pursuant to this Section 2.05(c) shall be registered in such names and in such
      authorized denominations as the Depositary, pursuant to instructions from its direct or indirect participants or otherwise, or, in the case of clause (iii) of the immediately preceding paragraph, the relevant beneficial owner, shall instruct the
      Trustee in writing.  Upon execution and authentication, the Trustee shall deliver such Physical Notes to the Persons in whose names such Physical Notes are so registered.

  

  

  At such time as all interests in a Global Note have been converted, canceled, repurchased, redeemed or transferred, such Global Note shall be, upon
      receipt thereof, canceled by the Trustee in accordance with standing procedures and existing instructions between the Depositary and the Custodian.  At any time prior to such cancellation, if any interest in a Global Note is exchanged for Physical
      Notes, converted, canceled, repurchased, redeemed or transferred to a transferee who receives Physical Notes therefor or any Physical Note is exchanged or transferred for part of such Global Note, the principal amount of such Global Note shall, in
      accordance with the standing procedures and instructions existing between the Depositary and the Custodian, be appropriately reduced or increased, as the case may be, and an endorsement shall be made on such Global Note, by the Trustee or the
      Custodian, at the direction of the Trustee, to reflect such reduction or increase.

  

  

  
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  None of the Company, the Trustee, the Paying Agent, the Conversion Agent, the Custodian or any agent of the Company or the Trustee shall have any
      responsibility or liability for any aspect of the records relating to or payments made on account of beneficial ownership interests of a Global Note or maintaining, supervising or reviewing any records relating to such beneficial ownership interests.

  

  

  (d)          Until the Resale Restriction Termination Date, any stock
      certificate representing Common Stock issued upon conversion of a Note shall bear a legend in substantially the following form (unless such Common Stock has been transferred pursuant to a registration statement that has become or been declared
      effective under the Securities Act and that continues to be effective at the time of such transfer, or pursuant to the exemption from registration provided by Rule 144 or any similar provision then in force under the Securities Act, or such Common
      Stock has been issued upon conversion of a Note that has transferred pursuant to a registration statement that has become or been declared effective under the Securities Act and that continues to be effective at the time of such transfer, or pursuant
      to the exemption from registration provided by Rule 144 or any similar provision then in force under the Securities Act, or unless otherwise agreed by the Company with written notice thereof to the Trustee and any transfer agent for the Common
      Stock):

  

  

  THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT IN ACCORDANCE WITH THE FOLLOWING SENTENCE. BY ITS ACQUISITION HEREOF OR OF A BENEFICIAL INTEREST HEREIN, THE ACQUIRER:

  

  

  (1)          REPRESENTS THAT IT AND ANY ACCOUNT
      FOR WHICH IT IS ACTING IS A “QUALIFIED INSTITUTIONAL BUYER” (WITHIN THE MEANING OF RULE 144A UNDER THE SECURITIES ACT) AND THAT IT EXERCISES SOLE INVESTMENT DISCRETION WITH RESPECT TO EACH SUCH ACCOUNT, AND

  

  

  (2)          AGREES FOR THE BENEFIT OF VONAGE
      HOLDINGS CORP. (THE “COMPANY”) THAT IT WILL NOT OFFER, SELL, PLEDGE OR OTHERWISE TRANSFER THIS SECURITY OR ANY BENEFICIAL INTEREST HEREIN PRIOR TO THE DATE THAT IS THE LATER OF (X) ONE YEAR AFTER THE LAST ORIGINAL ISSUE DATE OF THE SERIES OF NOTES
      UPON THE CONVERSION OF WHICH THIS SECURITY WAS ISSUED OR SUCH SHORTER PERIOD OF TIME AS PERMITTED BY RULE 144 UNDER THE SECURITIES ACT OR ANY SUCCESSOR PROVISION THERETO AND (Y) SUCH LATER DATE, IF ANY, AS MAY BE REQUIRED BY APPLICABLE LAW, EXCEPT:

  

  

  (A)          TO THE COMPANY OR ANY SUBSIDIARY
      THEREOF, OR

  

  

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

  

  

  
    20

    
      

  

  (C)          TO A QUALIFIED INSTITUTIONAL BUYER IN
      COMPLIANCE WITH RULE 144A UNDER THE SECURITIES ACT, OR

  

  

  (D)          PURSUANT TO AN EXEMPTION FROM
      REGISTRATION PROVIDED BY RULE 144 UNDER THE SECURITIES ACT OR ANY OTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.

  

  

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

  

  

  Any such shares of Common Stock (i) as to which such restrictions on transfer shall have expired in accordance with their terms, (ii) that has been
      transferred pursuant to a registration statement that has become or been declared effective under the Securities Act and that continues to be effective at the time of such transfer or (iii) that has been sold pursuant to the exemption from
      registration provided by Rule 144 or any similar provision then in force under the Securities Act, may, 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 restrictive legend required by this Section 2.05(d).

  

  

  (e)          Any Note or share of Common Stock issued upon the
      conversion or exchange of a Note that is repurchased or owned by any Affiliate of the Company (or any Person who was an Affiliate of the Company at any time during the three months preceding) may not be resold by such Affiliate (or such Person, as
      the case may be) 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 Note or share of Common Stock, as the case may be, no longer
      being a “restricted security” (as defined under Rule 144).  The Company shall cause any Note that is repurchased or owned by it to be surrendered to the Trustee for cancellation in accordance with Section 2.08.

  

  

  (f)          Notwithstanding anything herein to the contrary, neither
      the Trustee nor the Note Registrar shall be responsible for ascertaining whether any transfer complies with the registration provisions of or exemptions from the Securities Act, applicable state securities laws or other applicable federal or state
      laws.

  

  

  
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  Section 2.06. Mutilated, Destroyed, Lost or Stolen Notes.  In case any Note shall become mutilated or be destroyed, lost or
      stolen, the Company in its discretion may execute, and upon receipt of a Company Order the Trustee or an authenticating agent appointed by the Trustee shall authenticate and deliver, a new Note, bearing a registration number not contemporaneously
      outstanding, in exchange and substitution for the mutilated Note, or in lieu of and in substitution for the Note so destroyed, lost or stolen.  In every case the applicant for a substituted Note shall furnish to the Company, to the Trustee and, if
      applicable, to such authenticating agent such security or indemnity as may be required by them to save each of them harmless from any loss, liability, cost or expense caused by or connected with such substitution, and, in every case of destruction,
      loss or theft, the applicant shall also furnish to the Company, to the Trustee and, if applicable, to such authenticating agent evidence to their satisfaction of the destruction, loss or theft of such Note and of the ownership thereof.

  

  

  The Trustee or such authenticating agent may authenticate any such substituted Note and deliver the same upon the receipt of a Company Order and of
      such security or indemnity as the Trustee, the Company and, if applicable, such authenticating agent may require.  No service charge shall be imposed by the Company, the Trustee, the Note Registrar, any co-Note Registrar or the Paying Agent upon the
      issuance of any substitute Note, but the Company may require a Holder to pay a sum sufficient to cover any documentary, stamp or similar issue or transfer tax required in connection therewith as a result of the name of the Holder of the new
      substitute Note being different from the name of the Holder of the old Note that became mutilated or was destroyed, lost or stolen.  In case any Note that has matured or is about to mature or has been surrendered for required repurchase or is about
      to be converted in accordance with Article 14 shall become mutilated or be destroyed, lost or stolen, the Company may, in its sole discretion, instead of issuing a substitute Note, pay or authorize the payment of or convert or authorize the
      conversion of the same (without surrender thereof except in the case of a mutilated Note), as the case may be, if the applicant for such payment or conversion shall furnish to the Company, to the Trustee and, if applicable, to such authenticating
      agent such security or indemnity as may be required by them to save each of them harmless for any loss, liability, cost or expense caused by or connected with such substitution, and, in every case of destruction, loss or theft, evidence satisfactory
      to the Company, the Trustee and, if applicable, any Paying Agent or Conversion Agent evidence of their satisfaction of the destruction, loss or theft of such Note and of the ownership thereof.

  

  

  Every substitute Note issued pursuant to the provisions of this Section 2.06 by virtue of the fact that any Note is destroyed, lost or stolen shall
      constitute an additional contractual obligation of the Company, whether or not the destroyed, lost or stolen Note shall be found at any time, and shall be entitled to all the benefits of (but shall be subject to all the limitations set forth in) this
      Indenture equally and proportionately with any and all other Notes duly issued hereunder.  To the extent permitted by law, all Notes shall be held and owned upon the express condition that the foregoing provisions are exclusive with respect to the
      replacement, payment, redemption, conversion or repurchase of mutilated, destroyed, lost or stolen Notes and shall preclude any and all other rights or remedies notwithstanding any law or statute existing or hereafter enacted to the contrary with
      respect to the replacement, payment, redemption, conversion or repurchase of negotiable instruments or other securities without their surrender.

  

  

  
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  Section 2.07. Temporary Notes.  Pending the preparation of Physical Notes, 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 shall be issuable in any authorized denomination, and substantially in the
      form of the Physical 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 Physical Notes.  Without unreasonable delay, the Company shall execute and deliver to the Trustee or such
      authenticating agent Physical 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
      4.02 and the Trustee or such authenticating agent upon receipt of a Company Order shall authenticate and deliver in exchange for such temporary Notes an equal aggregate principal amount of Physical 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 Physical Notes authenticated and delivered
      hereunder.

  

  

  Section 2.08. Cancellation of Notes Paid, Converted, Etc.  The Company shall cause all Notes surrendered for the purpose of
      payment, repurchase (but excluding Notes repurchased pursuant to cash settled swaps or other derivatives that are not physically settled), redemption, registration of transfer or exchange or conversion, if surrendered to any Person other than the
      Trustee (including any of the Company’s agents, Subsidiaries or Affiliates), to be surrendered to the Trustee for cancellation and such Notes shall no longer be considered outstanding for purposes of this Indenture upon the payment, repurchase,
      redemption, registration of transfer or exchange or conversion.  All Notes delivered to the Trustee shall be canceled promptly by it, and no Notes shall be authenticated in exchange thereof except as expressly permitted by any of the provisions of
      this Indenture.  The Trustee shall dispose of canceled Notes in accordance with its customary procedures.

  

  

  Section 2.09. CUSIP Numbers.  The Company in issuing the Notes may use “CUSIP” numbers (if then generally in use), and, if so,
      the Trustee shall use “CUSIP” numbers in all notices issued to Holders as a convenience to such Holders; provided that any such notice may state that
      no representation is made as to the correctness of such numbers either as printed on the Notes or on such notice and that reliance may be placed only on the other identification numbers printed on the Notes.  The Company shall promptly notify the
      Trustee in writing of any change in the “CUSIP” numbers.

  

  

  Section 2.10. Additional Notes; Repurchases.  The Company may, without the consent of, or notice to, the Holders and
      notwithstanding Section 2.01, reopen this Indenture and issue additional Notes hereunder with the same terms as the Notes initially issued hereunder (other than differences in the issue date, the issue price and interest accrued prior to the issue
      date of such additional Notes and, if applicable, restrictions on transfer in respect of such additional Note) in an unlimited aggregate principal amount; provided
      that if any such additional Notes are not fungible with the Notes initially issued hereunder for U.S. federal income tax purposes, such additional Notes shall have one or more separate CUSIP numbers.  The Notes initially issued hereunder and any
      additional Notes will rank equally and ratably and will be treated as a single series for all purposes under this Indenture (except to the extent set forth in the immediately preceding sentence). 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 17.05, as the Trustee
      shall reasonably request.  In addition, the Company may, to the extent permitted by law, and directly or indirectly (regardless of whether such Notes are surrendered to the Company), repurchase Notes in the open market or otherwise, whether by the
      Company or its Subsidiaries or through a private or public tender or exchange offer or through counterparties pursuant to private agreements, including by cash-settled swaps or other derivatives, in each case, without prior notice to, or consent of,
      the Holders.  The Company shall cause any Notes so repurchased (other than Notes repurchased pursuant to cash-settled swaps or other derivatives that are not physically settled) to be surrendered to the Trustee for cancellation in accordance with
      Section 2.08 and such Notes shall no longer be considered outstanding under this Indenture upon their repurchase.

  

  

  
    23

    
      

  

  ARTICLE 3

  Satisfaction and Discharge

  

  

  Section 3.01. Satisfaction and Discharge.  This Indenture shall upon request of the Company contained in an Officer’s Certificate
      cease to be of further effect, and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge of this Indenture, when (a) (i) all Notes theretofore authenticated and delivered (other than (x)
      Notes which have been destroyed, lost or stolen and which have been replaced, paid or converted as provided in Section 2.06 and (y) Notes for whose payment money has theretofore
        been deposited in trust or segregated and held in trust by the Company and thereafter repaid to the Company or discharged from such trust, as provided in Section 4.04(d)) have been delivered to the Trustee for cancellation; or (ii) the
      Company has deposited with the Trustee or delivered to Holders, as applicable, after the Notes have become due and payable, whether on the Maturity Date, any Redemption Date, any Fundamental Change Repurchase Date, upon conversion or otherwise, cash,
      shares of Common Stock or a combination thereof, as applicable, solely to satisfy the Company’s Conversion Obligation, sufficient to pay all of the outstanding Notes and all other sums due and payable under this Indenture by the Company; and (b) the
      Company has delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that all conditions precedent herein provided for relating to the satisfaction and discharge of this Indenture have been complied with. 
      Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the Company to the Trustee under Section 7.06 shall survive.

  

  

  ARTICLE 4

  Particular Covenants of the Company

  

  

  Section 4.01. Payment of Principal and Interest.  The Company covenants and agrees that it will cause to be paid the principal
      (including the Redemption Price and the Fundamental Change Repurchase Price, if applicable) of, and accrued and unpaid interest on, each of the Notes at the places, at the respective times and in the manner provided herein and in the Notes.

  

  

  
    24

    
      

  

  Notwithstanding anything to the contrary contained in this Indenture, the Company may, to the extent it is required to do so by law, deduct or
      withhold income or other similar taxes imposed by the United States from principal, premium or interest (including any Additional Interest) payments hereunder.

  

  

  Section

                      4.02. Maintenance of Office or Agency.  The Company will maintain in the continental United States, an office or agency where the Notes may be surrendered for registration of
      transfer or exchange or for presentation for payment or repurchase (“Paying Agent”) or for conversion (“Conversion Agent”) and where notices to the Company in respect of the Notes and this Indenture may be delivered.  The Company will give prompt written notice to the Trustee of the location,
      and any change in the location, of such office or agency.  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 and notices
      may be made or delivered at the Corporate Trust Office or the office or agency of the Trustee in the continental United States; provided, no service
      of legal process on the Company may be made at any office of the Trustee.

  

  

  The Company may also from time to time designate as co-Note Registrars 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; provided that no such designation or rescission shall
      in any manner relieve the Company of its obligation to maintain an office or agency in the continental United States, for such purposes.  The Company will give prompt written notice to the Trustee of any such designation or rescission and of any
      change in the location of any such other office or agency.  The terms “Paying Agent” and “Conversion Agent” include any such additional or other offices or agencies, as applicable.

  

  

  The Company hereby initially designates the Trustee as the Paying Agent, Note Registrar, Custodian and Conversion Agent and the Corporate Trust
      Office as the office or agency in the continental United States where Notes may be surrendered for registration of transfer or exchange or for presentation for payment or repurchase or for conversion and where notices to the Company in respect of the
      Notes and this Indenture may be delivered.

  

  

  Section

                      4.03. Appointments to Fill Vacancies in Trustee’s Office.  The Company, whenever necessary to avoid or fill a vacancy in the office of Trustee, will appoint, in the manner
      provided in Section 7.09, a Trustee, so that there shall at all times be a Trustee hereunder.

  

  

  Section

                      4.04. Provisions as to Paying Agent.  (a)  If the Company shall appoint a Paying Agent other than the Trustee (which Paying Agent may be appointed without notice to Holders and
      may be a Subsidiary of the Company), the Company will cause such Paying Agent to execute and deliver to the Trustee an instrument in which such agent shall agree with the Trustee, subject to the provisions of this Section 4.04:

  

  

  (i)          that it will hold all sums held by it
      as such agent for the payment of the principal (including the Redemption Price and the Fundamental Change Repurchase Price, if applicable) of, and accrued and unpaid interest on, the Notes in trust for the benefit of the Holders of the Notes;

  

  

  
    25

    
      

  

  (ii)          that it will give the Trustee prompt
      notice of any failure by the Company to make any payment of the principal (including the Redemption Price and the Fundamental Change Repurchase Price, if applicable) of, and accrued and unpaid interest on, the Notes when the same shall be due and
      payable; and

  

  

  (iii)          that at any time during the
      continuance of an Event of Default, upon request of the Trustee, it will forthwith pay to the Trustee all sums so held in trust.

  

  

  The Company shall, on or before each due date of the principal (including the Redemption Price and the Fundamental Change Repurchase Price, if
      applicable) of, or accrued and unpaid interest on, the Notes, deposit with the Paying Agent a sum sufficient to pay such principal (including the Redemption Price and the Fundamental Change Repurchase Price, if applicable) or accrued and unpaid
      interest, and (unless such Paying Agent is the Trustee) the Company will promptly notify the Trustee in writing of any failure to take such action; provided
      that if such deposit is made on the due date, such deposit must be received by the Paying Agent by 11:00 a.m., New York City time, on such date.

  

  

  (b)          If the Company shall act as its own Paying Agent, it
      will, on or before each due date of the principal (including the Redemption Price and the Fundamental Change Repurchase Price, if applicable) of, and accrued and unpaid interest on, the Notes, set aside, segregate and hold in trust for the benefit of
      the Holders of the Notes a sum sufficient to pay such principal (including the Redemption Price and the Fundamental Change Repurchase Price, if applicable) and accrued and unpaid interest so becoming due and will promptly notify the Trustee in
      writing of any failure to take such action and of any failure by the Company to make any payment of the principal (including the Redemption Price and the Fundamental Change Repurchase Price, if applicable) of, or accrued and unpaid interest on, the
      Notes when the same shall become due and payable.

  

  

  (c)          Anything in this Section 4.04 to the contrary
      notwithstanding, the Company may, at any time, for the purpose of obtaining a satisfaction and discharge of this Indenture, or for any other reason, pay, cause to be paid or deliver to the Trustee all sums or amounts held in trust by the Company or
      any Paying Agent hereunder as required by this Section 4.04, such sums or amounts to be held by the Trustee upon the trusts herein contained and upon such payment or delivery by the Company or any Paying Agent to the Trustee, the Company or such
      Paying Agent shall be released from all further liability but only with respect to such sums or amounts.

  

  

  (d)          Subject to applicable law, any money deposited with the
      Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal (including the Redemption Price and the Fundamental Change Repurchase Price, if applicable) of, accrued and unpaid interest on and the consideration
      due upon conversion of any Note and remaining unclaimed for two years after such principal (including the Redemption Price and the Fundamental Change Repurchase Price, if applicable), interest or consideration due upon conversion has become due and
      payable shall be paid to the Company on request of the Company contained in an Officer’s Certificate, or (if then held by the Company) shall be discharged from such trust; and the Holder of such Note shall thereafter, as an unsecured general
      creditor, look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease.

  

  

  
    26

    
      

  

  Section

                      4.05. Existence.  Subject to Article 11, the Company shall do or cause to be done all things necessary to preserve and keep in full force and effect its corporate existence.

  

  

  Section

                      4.06. Rule 144A Information Requirement and Annual Reports.  (a)  At any time the Company is not subject to Section 13 or 15(d) of the Exchange Act, the Company shall, so long
      as any of the Notes or any shares of Common Stock issuable upon conversion thereof shall, at such time, constitute “restricted securities” within the meaning of Rule 144(a)(3) under the Securities Act, promptly provide to the Trustee and, upon
      written request, any Holder, beneficial owner or prospective purchaser of such Notes or any shares of Common Stock issuable upon conversion of such Notes, the information required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act
      to facilitate the resale of such Notes or shares of Common Stock pursuant to Rule 144A. The Company will take such further action as any Holder or beneficial owner of such Notes or such shares of Common Stock may reasonably request to the extent from
      time to time required to enable such Holder or beneficial owner to sell such Notes or shares of Common Stock in accordance with Rule 144A.

  

  

  (b)          The Company shall file with the Trustee, within 15 days
      after the same are required to be filed with the Commission, copies of any documents or reports that the Company is required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act (excluding any such information, documents or
      reports, or portions thereof, subject to confidential treatment and any correspondence with the Commission) (giving effect to any grace period provided by Rule 12b-25 or any successor rule under the Exchange Act).  Any such document or report that
      the Company files with the Commission via the Commission’s EDGAR system (or any successor system) shall be deemed to be filed with the Trustee for purposes of this Section 4.06(b) at the time such documents are filed via the EDGAR system, it being
      understood that the Trustee shall not be responsible for determining whether such filings have been made.

  

  

  (c)          Delivery of the reports, information and documents
      described in subsection (b) above 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 conclusively rely on an Officer’s Certificate).

  

  

  (d)          If, at any time during the six-month period beginning
      on, and including, the date that is six months after the last date of original issuance of the Notes, the Company fails to timely file any document or report that it is required to file with the Commission pursuant to Section 13 or 15(d) of the
      Exchange Act, as applicable (after giving effect to all applicable grace periods thereunder and other than Current Reports on Form 8-K), or the Notes are not otherwise freely tradable by Holders other than the Company’s Affiliates or Holders that
      were the Company’s Affiliates at any time during the three months preceding (as a result of restrictions pursuant to U.S. securities laws or the terms of this Indenture or the Notes), the Company shall pay Additional Interest on the Notes.  Such
      Additional Interest shall accrue on the Notes at the rate of  0.50% per annum of the aggregate principal amount of the Notes outstanding for each day during such period for which the Company’s failure to file has occurred and is continuing or the
      Notes are not otherwise freely tradable pursuant to Rule 144 by Holders other than the Company’s Affiliates (or Holders that were the Company’s Affiliates at any time during the three months preceding).  As used in this Section 4.06(d), documents or
      reports that the Company is required to “file” with the Commission pursuant to Section 13 or 15(d) of the Exchange Act does not include documents or reports that the Company furnishes to the Commission pursuant to Section 13 or 15(d) of the Exchange
      Act.

  

  

  
    27

    
      

  

  (e)          If, and for so long as, the restrictive legend on the
      Notes specified in Section 2.05(c) has not been removed (or deemed removed pursuant to this Indenture where (i) the mandatory exchange process of the Depositary is unavailable to effect an exchange of every beneficial interest in each Restricted
      Security for beneficial interests in Global Notes that are not subject to the restrictions set forth in such restrictive legend as described in Section 2.05(c) and (ii) such restrictive legend is no longer in effect with respect to the Notes or
      shares of Common Stock issuable upon conversion), the Notes are assigned a restricted CUSIP number or the Notes are not otherwise freely tradable pursuant to Rule 144 by Holders other than the Company’s Affiliates or Holders that were the Company’s
      Affiliates at any time during the three months preceding (without restrictions pursuant to U.S. securities laws or the terms of this Indenture or the Notes) as of the 370th day after the last date of original issuance of the Notes, the Company shall
      pay Additional Interest on the Notes at a rate equal to 0.50% per annum of the aggregate principal amount of Notes outstanding until the restrictive legend on the Notes has been removed in accordance with Section 2.05(c), the Notes are assigned an
      unrestricted CUSIP number and the Notes are freely tradable pursuant to Rule 144 by Holders other than the Company’s Affiliates (or Holders that were the Company’s Affiliates at any time during the three months preceding) (without restrictions
      pursuant to U.S. securities laws or the terms of this Indenture or the Notes).  For the avoidance of doubt, a Global Note will not be deemed to be assigned an unrestricted CUSIP unless such Global Note is identified by an unrestricted CUSIP number in
      the facilities of the Depositary.

  

  

  (f)          Additional Interest will be payable in arrears on each
      Interest Payment Date following accrual in the same manner as regular interest on the Notes.

  

  

  (g)          The Additional Interest that is payable in accordance
      with Section 4.06(d) or Section 4.06(e) shall, subject to the immediately succeeding sentence, be in addition to, and not in lieu of, any Additional Interest that may be payable as a result of the Company’s election pursuant to Section 6.03. 
      However, in no event shall any Additional Interest that may accrue as a result of the Company’s failure to timely file any document or report that it is required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act, as
      applicable (after giving effect to all applicable grace periods thereunder and other than reports filed on Form 8-K), pursuant to Section 4.06(d), together with any interest that may accrue in the event the Company elects to pay Additional Interest
      in respect of an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) pursuant to Section 6.03, accrue at a rate in excess of 0.50% per annum pursuant to this Indenture, regardless of the
      number of events or circumstances giving rise to the requirement to pay such Additional Interest.

  

  

  (h)          If Additional Interest is payable by the Company
      pursuant to Section 4.06(d) or Section 4.06(e), the Company shall deliver to the Trustee an Officer’s Certificate to that effect stating (i) the amount of such Additional Interest that is payable and (ii) the date on which such Additional Interest is
      payable.  Unless and until a Responsible Officer of the Trustee receives at the Corporate Trust Office such a certificate, the Trustee may assume without inquiry that no such Additional Interest is payable.

  

  

  
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  (i)          If the Company is required to pay Additional Interest in
      accordance with Section 4.06(d) or 4.06(e), the Company may elect to designate a Shelf Registration Statement for the resale of the Notes. No Additional Interest will accrue or be payable on any date on which (A)(x) such Shelf Registration Statement
      has been filed for the resale of the Notes and any shares of Common Stock issuable upon conversion of the Notes, (y) such Shelf Registration Statement is effective and useable by Holders for the resale of the Notes and any shares of Common Stock
      issuable upon conversion of the Notes and (z) the Holders may register the resale of convertible securities offered in reliance on Rule 144A and any shares of Common Stock issuable upon conversion thereof, as applicable or (B) the conditions set
      forth in clause (A) above have been satisfied for a period of two years.

  

  

  Section

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

  

  

  Section

                      4.08. Compliance Certificate; Statements as to Defaults.  The Company shall deliver to the Trustee within 120 days after the end of each fiscal year of the Company (beginning
      with the fiscal year ending on December 31, 2019) an Officer’s Certificate stating whether the signers thereof have knowledge of any failure by the Company to comply with all conditions and covenants then required to be performed under this Indenture
      during the previous fiscal year and, if so, specifying each such failure and the nature thereof.

  

  

  In addition, the Company shall deliver to the Trustee, as soon as possible, and in any event within 30 days after the occurrence of any Event of
      Default or Default, an Officer’s Certificate setting forth the details of such Event of Default or Default, its status and the action that the Company is taking or proposing to take in respect thereof; provided that the Company is not required to deliver such notice of such events that have been cured within the applicable grace period (if any) provided in this Indenture or are no longer
      continuing.

  

  

  Section 4.09. [Reserved.]

  

  

  Section

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

  

  

  
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  ARTICLE 5

  Lists of Holders and Reports by the Company and the Trustee

  

  

  Section

                      5.01. Lists of Holders.  The Company covenants and agrees that it will furnish or cause to be furnished to the Trustee, semi-annually, not more than 15 days after each May 15
      and November 15 in each year beginning with November 15, 2019, and at such other times as the Trustee may request in writing, within 30 days after receipt by the Company of any such request (or such lesser time as the Trustee may reasonably request
      in order to enable it to timely provide any notice to be provided by it hereunder), a list in such form as the Trustee may reasonably require of the names and addresses of the Holders as of a date not more than 15 days (or such other date as the
      Trustee may reasonably request in order to so provide any such notices) prior to the time such information is furnished, except that no such list need be furnished so long as the Trustee is acting as Note Registrar.

  

  

  Section

                      5.02. Preservation and Disclosure of Lists.  The Trustee shall preserve, in as current a form as is reasonably practicable, all information as to the names and addresses of the
      Holders contained in the most recent list furnished to it as provided in Section 5.01 or maintained by the Trustee in its capacity as Note Registrar, if so acting.  The Trustee may destroy any list furnished to it as provided in Section 5.01 upon
      receipt of a new list so furnished.

  

  

  ARTICLE 6

  Defaults and Remedies

  

  

  Section

                      6.01. Events of Default.  Each of the following events shall be an “Event of Default”
      with respect to the Notes:

  

  

  (a)          default in any payment of interest on any Note when due
      and payable, and the default continues for a period of 30 days;

  

  

  (b)          default in the payment of principal of any Note when due
      and payable on the Maturity Date, upon Optional Redemption, upon any required repurchase, upon declaration of acceleration or otherwise;

  

  

  (c)          failure by the Company to comply with its obligation to
      convert the Notes in accordance with this Indenture upon exercise of a Holder’s conversion right, and such failure continues for a period of three (3) Business Days;

  

  

  (d)          failure by the Company to issue a Fundamental Change Company Notice in accordance with Section 15.02(c) or notice of a specified corporate transaction in accordance with Section 14.01(b)(ii) or 14.01(b)(iii), in each case
      when due;

  

  

  (e)          failure by the Company to comply with its obligations
      under Article 11;

  

  

  (f)          failure by the Company for 60 days after written notice
      to the Company from the Trustee or to the Company and the Trustee from the Holders of at least 25% in principal amount of the Notes then outstanding has been received by the Company to comply with any of its other agreements contained in the Notes or
      this Indenture;

  

  

  
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  (g)          default by the Company or any Subsidiary of the Company
      with respect to any mortgage, agreement or other instrument under which there may be outstanding, or by which there may be secured or evidenced, any indebtedness for money borrowed in excess of $10,000,000 (or its foreign currency equivalent) in the
      aggregate of the Company and/or any such Subsidiary, whether such indebtedness now exists or shall hereafter be created (i) resulting in such indebtedness becoming or being declared due and payable prior to its stated maturity or (ii) constituting a
      failure to pay the principal of any such indebtedness when due and payable at its stated maturity, upon required repurchase, upon declaration of acceleration or otherwise, in each case, after the expiration of all applicable grace periods and, if
      such acceleration is not rescinded or annulled or if such default is not cured or waived, or such acceleration is not rescinded, within 30 days after written notice is delivered to the Company by the Trustee or by the Holders of at least 25% in
      aggregate principal amount of Notes then outstanding, in with this Indenture;

  

  

  (h)          a final judgment or judgments for the payment of
      $10,000,000 (or its foreign currency equivalent) or more (excluding any amounts covered by insurance) in the aggregate rendered against the Company or any Subsidiary of the Company, which judgment is not discharged, paid, bonded, waived or stayed
      within 60 days after (i) the date on which the right to appeal thereof has expired if no such appeal has commenced, or (ii) the date on which all rights to appeal have been extinguished;

  

  

  (i)          the Company or any Significant Subsidiary shall commence
      a voluntary case or other proceeding seeking liquidation, reorganization or other relief with respect to the Company or any such Significant Subsidiary or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect or
      seeking the appointment of a trustee, receiver, liquidator, custodian or other similar official of the Company or any such Significant Subsidiary or any substantial part of its property, or shall consent to any such relief or to the appointment of or
      taking possession by any such official in an involuntary case or other proceeding commenced against it, or shall make a general assignment for the benefit of creditors, or shall fail generally to pay its debts as they become due; or

  

  

  (j)          an involuntary case or other proceeding shall be
      commenced against the Company or any Significant Subsidiary seeking liquidation, reorganization or other relief with respect to the Company or such Significant Subsidiary or its debts under any bankruptcy, insolvency or other similar law now or
      hereafter in effect or seeking the appointment of a trustee, receiver, liquidator, custodian or other similar official of the Company or such Significant Subsidiary or any substantial part of its property, and such involuntary case or other
      proceeding shall remain undismissed and unstayed for a period of 30 consecutive days.

  

  

  Section

                      6.02. Acceleration; Rescission and Annulment.  If one or more Events of Default shall have occurred and be continuing (whatever the reason for such Event of Default and whether
      it shall be voluntary or involuntary or be 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), then, and in each and every such case
      (other than an Event of Default specified in Section 6.01(i) or Section 6.01(j) with respect to the Company or any of its Subsidiaries), unless the principal of all of the Notes shall have already become due and payable, either the Trustee or the
      Holders of at least 25% in aggregate principal amount of the Notes then outstanding determined in accordance with Section 8.04, by notice in writing to the Company (and to the Trustee, if given by the Holders), may, and the Trustee at the request of
      such Holders shall, declare 100% of the aggregate principal amount of, and accrued and unpaid interest on, all the Notes to be due and payable immediately, and upon any such declaration the same shall become and shall automatically be immediately due
      and payable, anything contained in this Indenture or in the Notes to the contrary notwithstanding.  If an Event of Default specified in Section 6.01(i) or Section 6.01(j) with respect to the Company or any of its Subsidiaries occurs and is
      continuing, 100% of the aggregate principal amount of, and accrued and unpaid interest, if any, on, all Notes shall become and shall automatically be immediately due and payable.

  

  

  
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  The immediately preceding paragraph, however, is subject to the conditions that if, at any time after the principal amount of the Notes shall have
      been so declared due and payable, and before any judgment or decree for the payment of the monies due shall have been obtained or entered as hereinafter provided, the Company shall pay or shall deposit with the Trustee a sum sufficient to pay
      installments of accrued and unpaid interest upon all Notes and the principal amount of any and all Notes that shall have become due otherwise than by acceleration (with interest on overdue installments of accrued and unpaid interest to the extent
      that payment of such interest is enforceable under applicable law, and on such principal amount at the rate borne by the Notes) and amounts due to the Trustee pursuant to Section 7.06, and if (1) rescission would not conflict with any judgment or
      decree of a court of competent jurisdiction and (2) any and all existing Events of Default under this Indenture, other than the nonpayment of the principal amount of and accrued and unpaid interest, if any, on Notes that shall have become due solely
      by such acceleration, shall have been cured or waived pursuant to Section 6.09, then and in every such case (except as provided in the immediately succeeding sentence) the Holders of a majority in aggregate principal amount of the Notes then
      outstanding, by written notice to the Company and to the Trustee, may waive all past Defaults or Events of Default with respect to the Notes and rescind and annul such declaration and its consequences and such Default shall cease to exist, and any
      Event of Default arising therefrom shall be deemed to have been cured for every purpose of this Indenture; but no such waiver or rescission and annulment shall extend to or shall affect any subsequent Default or Event of Default, or shall impair any
      right consequent thereon.  Notwithstanding anything to the contrary herein, no such waiver or rescission and annulment shall extend to or shall affect any Default or Event of Default resulting from (i) the nonpayment of the principal amount
      (including the Redemption Price and the Fundamental Change Repurchase Price, if applicable) of, or accrued and unpaid interest on, any Notes or (ii) a failure to pay or deliver, as the case may be, the consideration due upon conversion of the Notes.

  

  

  Section 6.03. Additional

        Interest.  Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in
      Section 4.06(b) shall, for the first 180 days after the occurrence of such an Event of Default, consist exclusively of the right to receive Additional Interest on the Notes at a
        rate equal to (i) 0.25% per annum of the aggregate principal amount of the Notes outstanding for each day during the first 90 days after the occurrence of such Event of Default during which such Event of Default is continuing and (ii) 0.50%
      per annum of the aggregate principal amount of the Notes outstanding for each day from the 91st day after the occurrence of such an Event of Default until the 180th day after the occurrence of such an Event of Default during which such Event of
      Default is continuing. Additional Interest payable pursuant to this Section 6.03 shall be in addition to, and not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). If the Company so elects, such Additional
      Interest shall be payable in the same manner and on the same dates as the stated interest payable on the Notes and will accrue on all outstanding Notes from, and including, the date on which such Event of Default first occurs to, and including, the
      180th day thereafter (or such earlier date on which such Event of Default is cured or validly waived in accordance with this Indenture).  On the 181st day after such Event of Default (if the Event of Default relating to the Company’s failure to file
      is not cured or waived prior to such 181st day), the Notes shall cease to accrue such Additional Interest and be immediately subject to acceleration as provided in Section 6.02.  The provisions of this paragraph will not affect the rights of Holders
      of any Notes in the event of the occurrence of any Event of Default other than the Company’s failure to comply with its obligations as set forth in Section 4.06(b).  In the event the Company does not elect to pay Additional Interest following an
      Event of Default in accordance with this Section 6.03 or the Company elected to make such payment but does not pay the Additional Interest when due, the Notes shall be immediately subject to acceleration as provided in Section 6.02.

  

  

  
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  In order to elect to pay Additional Interest as the sole remedy during the first 180 days after the occurrence of any Event of Default described in
      the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent of such election prior to the beginning of such 180-day period.  The notice will, among other things, briefly describe
      the periods during which and rate at which special interest will accrue and the circumstances under which the Notes will be subject to acceleration on account of such reporting event of default.  Upon the failure to timely give such notice, the Notes
      shall be immediately subject to acceleration as provided in Section 6.02.

  

  

  In no event will the rate of any such Additional Interest payable at the Company’s election for failure to comply with the Company’s reporting
      obligations pursuant to this Section 6.03 (including any Additional Interest that may accrue as a result of the Company’s failure to timely file any document or report that it is required to file with the Commission pursuant to Section 13 or 15(d) of
      the Exchange Act, as applicable (after giving effect to all applicable grace periods thereunder and other than reports on Form 8-K), as described under Section 4.06(d)), accrue at a rate in excess of 0.50% per annum of the aggregate principal amount
      of the Notes outstanding pursuant to this Indenture, regardless of the number of events or circumstances giving rise to the requirement to pay such Additional Interest.  For the avoidance of doubt, if the Company elects to pay Additional Interest for
      failure to comply with its reporting obligations pursuant to this Section 6.03, such Additional Interest will not accrue at a rate in excess of (x) 0.25% per annum of the principal amount of the Notes outstanding for each day during the first 90 days
      after the occurrence of such an Event of Default during which such Event of Default is continuing and (y) 0.50% per annum of the aggregate principal amount of the Notes outstanding for each day from the 91st day until the 180th day following the occurrence of such an Event of Default during which such Event of Default is
      continuing, regardless of the number of events or circumstances giving rise to the requirement to pay such Additional Interest pursuant to this Section 6.03 unless Additional Interest is also payable as a result of the Company’s failure to comply
      with its obligations under Section 4.06(d) or Section 4.06(e), in which case all Additional Interest shall be subject to the 0.50% per annum cap described in the immediately preceding sentence.

  

  

  
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  Section 6.04. Payments

        of Notes on Default; Suit Therefor.  If an Event of Default described in clause (a) or (b) of Section 6.01 shall have occurred and be continuing, the Company shall, upon demand of the Trustee, pay to the Trustee, for the benefit of the
      Holders of the Notes, the whole amount then due and payable on the Notes for principal and interest, if any, with interest on any overdue principal and interest, if any, at the rate borne by the Notes at such time, and, in addition thereto, such
      further amount as shall be sufficient to cover any amounts due to the Trustee under Section 7.06.  If the Company shall fail to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may
      institute a judicial proceeding for the collection of the sums so due and unpaid, may prosecute such proceeding to judgment or final decree and may enforce the same against the Company or any other obligor upon the Notes and collect the moneys
      adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the Notes, wherever situated.

  

  

  In the event there shall be pending proceedings for the bankruptcy or for the reorganization of the Company or any Significant Subsidiary on the
      Notes under Title 11 of the United States Code, or any other applicable law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of
      the Company or such Significant Subsidiary, the property of the Company or such Significant Subsidiary, or in the event of any other judicial proceedings relative to the Company or such Significant Subsidiary upon the Notes, or to the creditors or
      property of the Company or such other Subsidiary, the Trustee, irrespective of whether the principal of the Notes shall then be due and payable as therein expressed or by declaration or otherwise and irrespective of whether the Trustee shall have
      made any demand pursuant to the provisions of this Section 6.04, shall be entitled and empowered, by intervention in such proceedings or otherwise, to file and prove a claim or claims for the whole amount of principal and accrued and unpaid interest,
      if any, in respect of the Notes, and, in case of any judicial proceedings, to file such proofs of claim and other papers or documents and to take such other actions as it may deem necessary or advisable in order to have the claims of the Trustee
      (including any claim for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel) and of the Holders allowed in such judicial proceedings relative to the Company or any other obligor on the Notes, its
      or their creditors, or its or their property, and to collect and receive any monies or other property payable or deliverable on any such claims, and to distribute the same after the deduction of any amounts due to the Trustee under Section 7.06; and
      any receiver, assignee or trustee in bankruptcy or reorganization, liquidator, custodian or similar official is hereby authorized by each of the Holders to make such payments to the Trustee, as administrative expenses, and, in the event that the
      Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due it for reasonable compensation, expenses, advances and disbursements, including agents and counsel fees, and including any other
      amounts due to the Trustee under Section 7.06, incurred by it up to the date of such distribution.  To the extent that such payment of reasonable compensation, expenses, advances and disbursements out of the estate in any such proceedings shall be
      denied for any reason, payment of the same shall be secured by a lien on, and shall be paid out of, any and all distributions, dividends, monies, securities and other property that the Holders of the Notes may be entitled to receive in such
      proceedings, whether in liquidation or under any plan of reorganization or arrangement or otherwise.

  

  

  
    34

    
      

  

  Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder any plan of
      reorganization, arrangement, adjustment or composition affecting such Holder or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding.

  

  

  All rights of action and of asserting claims under this Indenture, or under any of the Notes, may be enforced by the Trustee without the possession
      of any of the Notes, or the production thereof at any trial or other proceeding relative thereto, and any such suit or proceeding instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment
      shall, after provision for the payment of the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, be for the ratable benefit of the Holders of the Notes.

  

  

  In any proceedings brought by the Trustee (and in any proceedings involving the interpretation of any provision of this Indenture to which the
      Trustee shall be a party) the Trustee shall be held to represent all the Holders of the Notes, and it shall not be necessary to make any Holders of the Notes parties to any such proceedings.

  

  

  In case the Trustee shall have proceeded to enforce any right under this Indenture and such proceedings shall have been discontinued or abandoned
      because of any waiver pursuant to Section 6.09 or any rescission and annulment pursuant to Section 6.02 or for any other reason or shall have been determined adversely to the Trustee, then and in every such case the Company, the Holders and the
      Trustee shall, subject to any determination in such proceeding, be restored respectively to their several positions and rights hereunder, and all rights, remedies and powers of the Company, the Holders and the Trustee shall continue as though no such
      proceeding had been instituted.

  

  

  Section 6.05. Application

        of Monies Collected by Trustee.  Any monies collected by the Trustee pursuant to this Article 6 with respect to the Notes shall be applied in the following order, at the date or dates fixed by the Trustee for the distribution of such monies,
      upon presentation of the several Notes, and stamping thereon the payment, if only partially paid, and upon surrender thereof, if fully paid:

  

  

  First, to the payment of all amounts due the
      Trustee (in each of its capacities) under this Indenture;

  

  

  Second, in case the principal of the outstanding
      Notes shall not have become due and be unpaid, to the payment of interest on, and any cash due upon conversion of, the Notes in default in the order of the date due of the payments of such interest and cash due upon conversion, as the case may be,
      with interest (to the extent that such interest has been collected by the Trustee) upon such overdue payments at the rate borne by the Notes at such time, such payments to be made ratably to the Persons entitled thereto;

  

  

  Third, in case the principal of the outstanding
      Notes shall have become due, by declaration or otherwise, and be unpaid to the payment of the whole amount (including, if applicable, the payment of the Redemption Price, the Fundamental Change Repurchase Price and any cash due upon conversion) then
      owing and unpaid upon the Notes for principal and interest, if any, with interest on the overdue principal and, to the extent that such interest has been collected by the Trustee, upon overdue installments of interest at the rate borne by the Notes
      at such time, and in case such monies shall be insufficient to pay in full the whole amounts so due and unpaid upon the Notes, then to the payment of such principal (including, if applicable, the Redemption Price, the Fundamental Change Repurchase
      Price and the cash due upon conversion) and interest without preference or priority of principal over interest, or of interest over principal or of any installment of interest over any other installment of interest, or of any Note over any other
      Note, ratably to the aggregate of such principal (including, if applicable, the Redemption Price and the Fundamental Change Repurchase Price and any cash due upon conversion) and accrued and unpaid interest; and

  

  

  
    35

    
      

  

  Fourth, to the payment of the remainder, if any,
      to the Company.

  

  

  Section 6.06. Proceedings

        by Holders.  Except to enforce the right to receive payment of principal (including, if applicable, the Redemption Price and the Fundamental Change Repurchase Price) or interest when due, or the right to receive payment or delivery of the
      consideration due upon conversion, no Holder of any Note shall have any right by virtue of or by availing of any provision of this Indenture to institute any suit, action or proceeding in equity or at law upon or under or with respect to this
      Indenture, or for the appointment of a receiver, trustee, liquidator, custodian or other similar official, or for any other remedy hereunder, unless:

  

  

  (a)          such Holder previously shall have given to the Trustee
      written notice of an Event of Default and of the continuance thereof, as herein provided;

  

  

  (b)          Holders of at least 25% in aggregate principal amount of
      the Notes then outstanding shall have made written request upon the Trustee to institute such action, suit or proceeding in its own name as Trustee hereunder;

  

  

  (c)          such Holders shall have offered to the Trustee such
      security or indemnity satisfactory to it against any loss, liability or expense to be incurred therein or thereby;

  

  

  (d)          the Trustee for 60 days after its receipt of such
      notice, request and offer of such security or indemnity, shall have neglected or refused to institute any such action, suit or proceeding; and

  

  

  (e)          no direction that, in the opinion of the Trustee, is
      inconsistent with such written request shall have been given to the Trustee by the Holders of a majority of the aggregate principal amount of the Notes then outstanding within such 60-day period pursuant to Section 6.09, it being understood and
      intended, and being expressly covenanted by the taker and Holder of every Note with every other taker and Holder and the Trustee that no one or more Holders shall have any right in any manner whatever by virtue of or by availing of any provision of
      this Indenture to affect, disturb or prejudice the rights of any other Holder (it being understood that the Trustee shall have no liability or responsibility to ascertain whether or not any such action is prejudicial to the Holders), or to obtain or
      seek to obtain priority over or preference to any other such Holder, or to enforce any right under this Indenture, except in the manner herein provided and for the equal, ratable and common benefit of all Holders (except as otherwise provided
      herein).  For the protection and enforcement of this Section 6.06, each and every Holder and the Trustee shall be entitled to such relief as can be given either at law or in equity.

  

  

  
    36

    
      

  

  Notwithstanding any other provision of this Indenture and any provision of any Note, the right of any Holder to receive payment or delivery, as the
      case may be, of (x) the principal (including the Redemption Price and the Fundamental Change Repurchase Price, if applicable) of, (y) accrued and unpaid interest, if any, on, and (z) the consideration due upon conversion of, such Note, on or after
      the respective due dates expressed or provided for in such Note or in this Indenture, or to institute suit for the enforcement of any such payment or delivery, as the case may be, on or after such respective dates against the Company shall not be
      impaired or affected without the consent of such Holder.

  

  

  Section 6.07. Proceedings

        by Trustee.  In case of an Event of Default, the Trustee may in its discretion proceed to protect and enforce the rights vested in it by this Indenture by such appropriate judicial proceedings as are necessary to protect and enforce any of
      such rights, either by suit in equity or by action at law or by proceeding in bankruptcy or otherwise, whether for the specific enforcement of any covenant or agreement contained in this Indenture or in aid of the exercise of any power granted in
      this Indenture, or to enforce any other legal or equitable right vested in the Trustee by this Indenture or by law.

  

  

  Section 6.08. Remedies

        Cumulative and Continuing.  Except as provided in the last paragraph of Section 2.06, all powers and remedies given by this Article 6 to the Trustee or to the Holders shall, to the extent permitted by law, be deemed cumulative and not
      exclusive of any thereof or of any other powers and remedies available to the Trustee or the Holders of the Notes, by judicial proceedings or otherwise, to enforce the performance or observance of the covenants and agreements contained in this
      Indenture, and no delay or omission of the Trustee or of any Holder of any of the Notes to exercise any right or power accruing during the continuance of any Default or Event of Default shall impair any such right or power, or shall be construed to
      be a waiver of any such Default or Event of Default or any acquiescence therein; and, subject to the provisions of Section 6.06, every power and remedy given by this Article 6 or by law to the Trustee or to the Holders may be exercised from time to
      time, and as often as shall be deemed expedient, by the Trustee or by the Holders.

  

  

  Section 6.09. Direction of Proceedings and Waiver of Defaults by Majority of Holders.  The Holders of a majority of the aggregate principal amount of the Notes at the time outstanding determined in accordance with Section 8.04 shall have the right to direct the time,
      method and place of conducting any proceeding for any remedy available to the Trustee or exercising any trust or power conferred on the Trustee with respect to the Notes; provided, however, that (a) such direction shall not be in conflict with any rule of law or with this Indenture, and
      (b) the Trustee may take any other action deemed proper by the Trustee that is not inconsistent with such direction.  The Trustee may refuse to follow any direction that it determines is unduly prejudicial to the rights of any other Holder (it being
      understood that the Trustee does not have an affirmative duty to ascertain whether or not such directions are unduly prejudicial to such Holder) or that would involve the Trustee in personal liability unless the Trustee is offered, and if requested,
      provided indemnity or security satisfactory to it against any losses, liabilities or expenses that may be caused by taking or not taking such actions; provided, however, that the Trustee may take any other action deemed proper by the Trustee that is
      not inconsistent with such direction.  The Holders of a majority in aggregate principal amount of the Notes at the time outstanding determined in accordance with Section 8.04 may on behalf of the Holders of all of the Notes waive any existing or past
      Default or Event of Default hereunder and its consequences except (i) a default in the payment of accrued and unpaid interest, if any, on, or the principal amount (including any Redemption Price and any Fundamental Change Repurchase Price) of, the
      Notes when due that has not been cured pursuant to the provisions of Section 6.01, (ii) a failure by the Company to pay or deliver, as the case may be, the consideration due upon conversion of the Notes or (iii) a default in respect of a covenant or
      provision hereof which under Article 10 cannot be modified or amended without the consent of each Holder of an outstanding Note affected.  Upon any such waiver the Company, the Trustee and the Holders of the Notes shall be restored to their former
      positions and rights hereunder; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereon.  Whenever any Default or Event of Default hereunder shall have been waived as permitted by
      this Section 6.09, said Default or Event of Default shall for all purposes of the Notes and this Indenture be deemed to have been cured and to be not continuing; but no such waiver shall extend to any subsequent or other Default or Event of Default
      or impair any right consequent thereon.

  

  

  
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  Section 6.10. Notice

        of Defaults.  The Trustee shall, within the later of 90 days after the occurrence and continuance of a Default or 30 days after which a Responsible Officer of the Trustee has actual knowledge thereof, deliver to all Holders notice of all
      such Defaults, unless such Defaults shall have been cured or waived before the giving of such notice; provided that, except in the case of a Default
      in the payment of the principal amount of (including the Redemption Price and the Fundamental Change Repurchase Price, if applicable), or accrued and unpaid interest on, any of the Notes or a Default in the payment or delivery of the consideration
      due upon conversion, the Trustee shall be fully-protected in withholding notice if and so long as a Responsible Officer of the Trustee in good faith determines that the withholding of such notice is in the interests of the Holders.

  

  

  Section 6.11. Undertaking

        to Pay Costs.  All parties to this Indenture agree, and each Holder of any Note by its acceptance thereof shall be deemed to have agreed, that any court may, in its discretion, require, 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, the filing by any party litigant in such suit of an undertaking to pay the costs of such suit and that such court may in its discretion assess
      reasonable costs, including reasonable attorneys’ fees and expenses, against any party litigant in such suit, having due regard to the merits and good faith of the claims or defenses made by such party litigant; provided that the provisions of this Section 6.11 (to the extent permitted by law) shall not apply to any suit instituted by the Trustee, to any suit instituted by any Holder, or
      group of Holders, holding in the aggregate more than 10% in principal amount of the Notes at the time outstanding determined in accordance with Section 8.04, or to any suit instituted by any Holder for the enforcement of the payment of the principal
      of or accrued and unpaid interest, if any, on any Note (including, but not limited to, the Redemption Price and the Fundamental Change Repurchase Price, if applicable) on or after the due date expressed or provided for in such Note or to any suit for
      the enforcement of the right to convert any Note, or receive the consideration due upon conversion, in accordance with the provisions of Article 14.

  

  

  
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  ARTICLE 7

  Concerning the Trustee

  

  

  Section 7.01. Duties

        and Responsibilities of Trustee.  The Trustee, prior to the occurrence of an Event of Default and after the curing or waiver of all Events of Default that may have occurred, undertakes to perform such duties and only such duties as are
      specifically set forth in this Indenture.  In the event an Event of Default has occurred and is continuing, the Trustee shall exercise such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in its
      exercise, as a prudent person would exercise or use under the circumstances in the conduct of such person’s own affairs; provided that if an Event of
      Default occurs and is continuing, the Trustee will be under no obligation to exercise any of the rights or powers under this Indenture at the request or direction of any of the Holders unless such Holders have offered to the Trustee indemnity or
      security satisfactory to it against any loss, liability or expense that might be incurred by it in compliance with such request or direction.

  

  

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

  

  

  (a)          prior to the occurrence of an Event of Default and after
      the curing or waiving of all Events of Default that may have occurred:

  

  

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

  

  

  (ii)          in the absence of gross negligence
      and willful misconduct on the part of the Trustee, the Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon any certificates or opinions furnished to the Trustee and conforming
      to the requirements of this Indenture; but, in the case of any such certificates or opinions that by any provisions hereof are specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine
      whether or not they conform to the requirements of this Indenture (but need not confirm or investigate the accuracy of any mathematical calculations or other facts stated therein);

  

  

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

  

  

  (c)          the Trustee shall not be liable with respect to any
      action taken or omitted to be taken by it in good faith in accordance with the direction of the Holders of not less than a majority of the aggregate principal amount of the Notes at the time outstanding determined as provided in Section 8.04 relating
      to the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee, under this Indenture;

  

  

  
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  (d)          whether or not therein provided, 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 Section;

  

  

  (e)          the Trustee shall not be liable in respect of any
      payment (as to the correctness of amount, entitlement to receive or any other matters relating to payment) or notice effected by the Company or any Paying Agent or any records maintained by any co-Note Registrar with respect to the Notes;

  

  

  (f)          if any party fails to deliver a notice relating to an
      event the fact of which, pursuant to this Indenture, requires notice to be sent to the Trustee, the Trustee may conclusively rely on its failure to receive such notice as reason to act as if no such event occurred, unless a Responsible Officer of the
      Trustee had actual knowledge of such event;

  

  

  (g)          in the absence of written investment direction from the
      Company, all cash received by the Trustee shall be placed in a non-interest bearing trust account, and in no event shall the Trustee be liable for the selection of investments or for investment losses incurred thereon or for losses incurred as a
      result of the liquidation of any such investment prior to its maturity date or the failure of the party directing such investments prior to its maturity date or the failure of the party directing such investment to provide timely written investment
      direction, and the Trustee shall have no obligation to invest or reinvest any amounts held hereunder in the absence of such written investment direction from the Company; and

  

  

  (h)          in the event that the Trustee is also acting as
      Custodian, Note Registrar, Paying Agent, Conversion Agent, Bid Solicitation Agent or transfer agent hereunder, the rights and protections afforded to the Trustee pursuant to this Article 7 shall also be afforded to such Custodian, Note Registrar,
      Paying Agent, Conversion Agent, Bid Solicitation Agent or transfer agent.

  

  

  None of the provisions contained in this Indenture or the Notes shall require the Trustee to expend or risk its own funds or otherwise incur personal
      financial liability in the performance of any of its duties or in the exercise of any of its rights or powers. The Trustee will be under no obligation to exercise any of its rights and powers under this Indenture at the request or direction of the
      Holders unless such Holder has offered to the Trustee security or indemnity satisfactory to it against any loss, liability or expense.

  

  

  Section 7.02. Reliance on Documents, Opinions,
        Etc.  Except as otherwise provided in Section 7.01:

  

  

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

  

  

  
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  (b)          any request, direction, order or demand of the Company
      mentioned herein shall be sufficiently evidenced by an Officer’s Certificate (unless other evidence in respect thereof be herein specifically prescribed); and any Board Resolution may be evidenced to the Trustee by a copy thereof certified by the
      Secretary or an Assistant Secretary of the Company;

  

  

  (c)          the Trustee may consult with counsel of its selection
      and require an Opinion of Counsel and any advice of such counsel or Opinion of Counsel shall be full and complete authorization and protection in respect of any action taken or omitted by it hereunder in good faith and in accordance with such advice
      or Opinion of Counsel;

  

  

  (d)          before the Trustee acts or refrains from acting, it may
      require an Officer’s Certificate or Opinion of Counsel or both. The Trustee shall not be liable for any action it takes or omits to take in reliance on the Officer’s Certificate or Opinion of Counsel;

  

  

  (e)          the Trustee shall not be bound to make any investigation
      into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture or other paper or document, but the Trustee, in its discretion, may make such further
      inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled to examine the books, records and premises of the Company, personally or by
      agent or attorney at the expense of the Company and shall incur no liability of any kind by reason of such inquiry or investigation;

  

  

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

  

  

  (g)          the permissive rights of the Trustee enumerated herein
      shall not be construed as duties;

  

  

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

  

  

  (i)          the Trustee shall not be deemed to have notice of any
      Default or Event of Default unless a Responsible Officer of the Trustee has actual knowledge thereof or unless written notice of any event which is in fact such a default is received by the Trustee at the Corporate Trust Office of the Trustee, and
      such notice references the Notes and this Indenture;

  

  

  (j)          the Trustee shall not be responsible for monitoring the
      performance of other persons or for the failure of others to perform their duties;

  

  

  (k)          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;

  

  

  
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  (l)          the Holders will not direct the Trustee to take action
      contrary to this Indenture, the Notes, or applicable law, and the Trustee is not obligated to follow any instruction of the Holders that is contrary to this Indenture, the Notes, or applicable law;

  

  

  (m)          the Trustee shall have no duty to inquire, no duty to
      determine and no duty to monitor as to the performance of the Company’s covenants in this Indenture or the financial performance of the Company; the Trustee shall be entitled to assume, until it has received written notice in accordance with this
      Indenture, that the Company is properly performing its duties hereunder;

  

  

  (n)          the Trustee shall not be required to give any bond or
      surety in respect of the execution of the trusts or performance of its powers and duties hereunder; and

  

  

  (o)          the Trustee may request that the Company deliver a
      certificate setting forth the names of individuals and/or titles of officers authorized at such time to take specified actions pursuant to this Indenture, 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.

  

  

  In no event shall the Trustee be liable for any special, punitive, indirect or consequential loss or damage of any kind whatsoever (including but not
      limited to lost profits), even if the Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action other than any such loss or damage caused by the Trustee’s willful misconduct or gross negligence.  The
      Trustee shall not be charged with knowledge of any Default or Event of Default with respect to the Notes, unless either (1) a Responsible Officer of the Trustee shall have actual knowledge of such Default or Event of Default or (2) written notice of
      such Default or Event of Default shall have been given to the Trustee by the Company or actually received by a Responsible Officer at the Corporate Trust Office of the Trustee from the Company, a Paying Agent, any Holder or any agent of any Holder,
      referencing this Indenture and stating that it is a “notice of default.”

  

  

  Section 7.03. No Responsibility for Recitals,
        Etc.  The recitals contained herein and in the Notes (except in the Trustee’s certificate of authentication) shall be taken as the statements of the Company, and the Trustee assumes no responsibility for the correctness of the same.  The
      Trustee makes no representations as to the validity or sufficiency of this Indenture or of the Notes.  The Trustee shall not be accountable for the use or application by the Company of any Notes or the proceeds of any Notes authenticated and
      delivered by the Trustee in conformity with the provisions of this Indenture.

  

  

  Section 7.04. Trustee, Paying Agents,
        Conversion Agents, Bid Solicitation Agent or Note Registrar May Own Notes.  The Trustee, any Paying Agent, any Conversion Agent, Bid Solicitation Agent (if other than the Company or any Affiliate thereof) or Note Registrar, in its individual
      or any other capacity, may become the owner or pledgee of Notes with the same rights it would have if it were not the Trustee, Paying Agent, Conversion Agent, Bid Solicitation Agent or Note Registrar.

  

  

  
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  Section 7.05. Monies to Be Held in Trust. 

      All monies received by the Trustee shall, until used or applied as herein provided, be held in trust for the purposes for which it was received.  Money held by the Trustee in trust hereunder need not be segregated from other funds except to the
      extent required by law.  The Trustee shall be under no liability for interest on any money received by it hereunder except as may be agreed from time to time by the Company and the Trustee. The Trustee shall not be obligated to take possession of any
      shares of Common Stock, whether upon conversion or in connection with any discharge of this Indenture pursuant to Article 3 hereof, but shall satisfy its obligation as Conversion Agent by working through the stock transfer agent of the Company from
      time to time as directed by the Company.

  

  

  Section 7.06. Compensation and Expenses of
        Trustee.  The Company covenants and agrees to pay to the Trustee from time to time, and the Trustee shall be entitled to, such compensation as agreed in writing between the Company and the Trustee for all services rendered by it hereunder in
      any capacity (which shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust) as mutually agreed to in writing between the Trustee and the Company, and the Company will pay or reimburse the Trustee
      upon its request for all reasonable expenses, disbursements and advances reasonably incurred or made by the Trustee in accordance with any of the provisions of this Indenture in any capacity thereunder (including the reasonable compensation and the
      expenses and disbursements of its agents and counsel and of all Persons not regularly in its employ and including reasonable attorneys’ fees in connection with enforcement of its rights to indemnity herein) except any such expense, disbursement or
      advance as shall have been caused by its gross negligence or willful misconduct.  The Company also covenants to indemnify the Trustee in any capacity under this Indenture and any other document or transaction entered into in connection herewith and
      its agents and any authenticating agent for, and to hold them harmless against, any loss, claim (whether asserted by the Company, a Holder or any other Person), damage, liability, fee, cost, loss, tax, claim, action or expense incurred without gross
      negligence or willful misconduct on the part of the Trustee, its officers, directors, agents or employees, or such agent or authenticating agent, as the case may be, and arising out of or in connection with the acceptance or administration of this
      Indenture or in any other capacity hereunder, including third party claims and claims involving the Company and including the costs and expenses of defending themselves against any claim of liability in the premises.  The obligations of the Company
      under this Section 7.06 to compensate or indemnify the Trustee and to pay or reimburse the Trustee for expenses, disbursements and advances shall be secured by a senior claim to which the Notes are hereby made subordinate on all money or property
      held or collected by the Trustee, except, subject to the effect of Section 6.05, funds held in trust herewith for the benefit of the Holders of particular Notes.  The Trustee’s right to receive payment of any amounts due under this Section 7.06 shall
      not be subordinate to any other liability or indebtedness of the Company.  The obligation of the Company under this Section 7.06 shall survive the satisfaction and discharge of this Indenture and the earlier resignation or removal of the Trustee. 
      The Company need not pay for any settlement made without its consent, which consent shall not be unreasonably withheld.  The indemnification provided in this Section 7.06 shall extend to the officers, directors, agents and employees of the Trustee.

  

  

  
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  Without prejudice to any other rights available to the Trustee under applicable law, when the Trustee and its agents and any authenticating agent
      incur expenses or render services after an Event of Default specified in Section 6.01(i) or Section 6.01(j) occurs, the expenses and the compensation for the services
      are intended to constitute expenses of administration under any bankruptcy, insolvency or similar laws.

  

  

  Section 7.07. Officer’s Certificate as Evidence. 

      Except as otherwise provided in Section 7.01, whenever in the administration of the provisions of this Indenture the Trustee shall deem it necessary or desirable that a matter be proved or established prior to taking or omitting any action hereunder,
      such matter (unless other evidence in respect thereof be herein specifically prescribed) may, in the absence of gross negligence or willful misconduct on the part of the Trustee, be deemed to be conclusively proved and established by an Officer’s
      Certificate delivered to the Trustee, and such Officer’s Certificate, in the absence of gross negligence and willful misconduct on the part of the Trustee, shall be full warrant to the Trustee for any action taken or omitted by it under the
      provisions of this Indenture upon the faith thereof.

  

  

  Section 7.08. Eligibility of Trustee. 
      There shall at all times be a Trustee hereunder which shall be a Person that is eligible pursuant to the Trust Indenture Act (as if the Trust Indenture Act were applicable hereto) to act as such and has a combined capital and surplus of at least
      $50,000,000.  If such Person publishes reports of condition at least annually, pursuant to law or to the requirements of any supervising or examining authority, then for the purposes of this Section, the combined capital and surplus of such Person
      shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published.  If at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section, it shall resign
      immediately in the manner and with the effect hereinafter specified in this Article.

  

  

  Section 7.09. Resignation or Removal of Trustee.  (a) The Trustee may at any time resign by giving written notice of such resignation to the Company and by delivering notice thereof to the Holders.  Upon receiving such notice of resignation, the Company shall promptly appoint a
      successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee.  If no successor trustee shall have
      been so appointed and have accepted appointment within 45 days after the delivery of such notice of resignation to the Holders, the resigning Trustee may, upon ten Business Days’ notice to the Company and the Holders, petition any court of competent
      jurisdiction for the appointment of a successor trustee (at the Company’s expense), or any Holder who has been a bona fide holder of a Note or Notes for at least six months (or since the date of this Indenture) may, subject to the provisions of
      Section 6.11, on behalf of himself or herself and all others similarly situated, petition any such court for the appointment of a successor trustee.  Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a
      successor trustee.

  

  

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

  

  

  (i)          the Trustee shall cease to be
      eligible in accordance with the provisions of Section 7.08 and shall fail to resign after written request therefor by the Company or by any such Holder, or

  

  

  (ii)          the Trustee shall become incapable
      of acting, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of
      rehabilitation, conservation or liquidation,

  

  

  
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  then, in either case, the Company may by a Board Resolution remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the
      Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 6.11, any Holder who has been a bona fide holder of a Note or Notes for at
      least six months (or since the date of this Indenture) may, on behalf of himself or herself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. 
      Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.

  

  

  (c)          The Holders of a majority in aggregate principal amount
      of the Notes at the time outstanding, as determined in accordance with Section 8.04, may at any time remove the Trustee and nominate a successor trustee that shall be deemed appointed as successor trustee unless within ten days after notice to the
      Company of such nomination the Company objects thereto, in which case the Trustee so removed or any Holder, upon the terms and conditions and otherwise as in Section 7.09(a) provided, may petition any court of competent jurisdiction for an
      appointment of a successor trustee.

  

  

  (d)          Any resignation or removal of the Trustee and
      appointment of a successor trustee pursuant to any of the provisions of this Section 7.09 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 7.10.

  

  

  Section 7.10. Acceptance by Successor Trustee. 

      Any successor trustee appointed as provided in Section 7.09 shall execute, acknowledge and deliver to the Company and to its predecessor trustee an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the
      predecessor trustee shall become effective and such successor trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, duties and obligations of its predecessor hereunder, with like effect as if
      originally named as Trustee herein; but, nevertheless, on the written request of the Company or of the successor trustee, the trustee ceasing to act shall, upon payment of any amounts then due it pursuant to the provisions of Section 7.06, execute
      and deliver an instrument transferring to such successor trustee all the rights and powers of the trustee so ceasing to act.  Upon request of any such successor trustee, the Company shall execute any and all instruments in writing for more fully and
      certainly vesting in and confirming to such successor trustee all such rights and powers.  Any trustee ceasing to act shall, nevertheless, retain a senior claim to which the Notes are hereby made subordinate on all money or property held or collected
      by such trustee as such, except for funds held in trust for the benefit of Holders of particular Notes, to secure any amounts then due it pursuant to the provisions of Section 7.06.

  

  

  No successor trustee shall accept appointment as provided in this Section 7.10 unless at the time of such acceptance such successor trustee shall be
      eligible under the provisions of Section 7.08.

  

  

  
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  Upon acceptance of appointment by a successor trustee as provided in this Section 7.10, each of the Company and the successor trustee, at the written
      direction and at the expense of the Company shall send or cause to be sent a notice of the succession of such trustee hereunder to the Holders at their addresses as they shall appear on the Note Register.  If the Company fails to send such notice
      within ten days after acceptance of appointment by the successor trustee, the successor trustee shall cause such notice to be sent at the expense of the Company.

  

  

  Section 7.11. Succession by Merger, Etc. 
      Any corporation or other entity into which the Trustee may be merged or converted or with which it may be consolidated, or any corporation or other entity resulting from any merger, conversion or consolidation to which the Trustee shall be a party,
      or any corporation or other entity succeeding to all or substantially all of the corporate trust business of the Trustee (including the administration of this Indenture), shall be the successor to the Trustee hereunder without the execution or filing
      of any paper or any further act on the part of any of the parties hereto; provided that in the case of any corporation or other entity succeeding to
      all or substantially all of the corporate trust business of the Trustee such corporation or other entity shall be eligible under the provisions of Section 7.08.

  

  

  In case at the time such successor 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 or authenticating agent appointed by such predecessor trustee, and deliver such Notes so authenticated; and in
      case at that time any of the Notes shall not have been authenticated, any successor to the Trustee or an authenticating agent appointed by such successor trustee may authenticate such Notes either in the name of any predecessor trustee hereunder or
      in the name of the successor trustee; and in all such cases such certificates shall have the full force which it is anywhere in the Notes or in this Indenture provided that the certificate of the Trustee shall have; provided, however, that the right to adopt the certificate of authentication
      of any predecessor trustee or to authenticate Notes in the name of any predecessor trustee shall apply only to its successor or successors by merger, conversion or consolidation.

  

  

  Section 7.12. Trustee’s Application for
        Instructions from the Company.  Any application by the Trustee for written instructions from the Company (other than with regard to any action proposed to be taken or omitted to be taken by the Trustee that affects the rights of the Holders
      of the Notes under this Indenture) 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 that the Company has indicated to the Trustee should receive such application 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 accordance with this Indenture in response to such application specifying the action to be
      taken or omitted.

  

  

  
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  ARTICLE 8

  Concerning the Holders

  

  

  Section 8.01. Action by Holders.  Whenever
      in this Indenture it is provided that the Holders of a specified percentage of the aggregate principal amount of the Notes may take any action (including the making of any demand or request, the giving of any notice, consent or waiver or the taking
      of any other action), the fact that at the time of taking any such action, the Holders of such specified percentage have joined therein may be evidenced (a) by any instrument or any number of instruments of similar tenor executed by Holders in person
      or by agent or proxy appointed in writing, or (b) by the record of the Holders voting in favor thereof at any meeting of Holders duly called and held in accordance with the provisions of Article 9, or (c) by a combination of such instrument or
      instruments and any such record of such a meeting of Holders.  Whenever the Company or the Trustee solicits the taking of any action by the Holders of the Notes, the Company or the Trustee may, but shall not be required to, fix in advance of such
      solicitation a date as the record date for determining Holders entitled to take such action.  The record date, if one is selected, shall be not more than 15 days prior to the date of commencement of solicitation of such action.

  

  

  Section 8.02. Proof

        of Execution by Holders.  Subject to the provisions of Section 7.01, Section 7.02 and Section

        9.05, proof of the execution of any instrument by a Holder or its agent or proxy shall be sufficient if made in accordance with such reasonable rules and regulations as may be prescribed by the Trustee or in such manner as shall be
      satisfactory to the Trustee.  The holding of Notes shall be proved by the Note Register or by a certificate of the Note Registrar.  The record of any Holders’ meeting shall be proved in the manner provided in Section 9.06.

  

  

  Section 8.03. Who

        Are Deemed Absolute Owners.  The Company, the Trustee, any authenticating agent, any Paying Agent, any Conversion Agent and any Note Registrar may deem the Person in whose name a Note shall be registered upon the Note Register to be, and may
      treat it as, the absolute owner of such Note (whether or not such Note shall be overdue and notwithstanding any notation of ownership or other writing thereon made by any Person other than the Company or any Note Registrar) for the purpose of
      receiving payment of or on account of the principal (including any Redemption Price and any Fundamental Change Repurchase Price) of and (subject to Section 2.03) accrued and unpaid interest on such Note, for conversion of such Note and for all other
      purposes under this Indenture; and neither the Company nor the Trustee nor any Paying Agent nor any Conversion Agent nor any Note Registrar shall be affected by any notice to the contrary.  All such payments or deliveries so made to any Holder for
      the time being, or upon its order, shall be valid, and, to the extent of the sums of money or shares of Common Stock so paid or delivered, effectual to satisfy and discharge the liability for monies payable or shares deliverable upon any such Note. 
      Notwithstanding anything to the contrary in this Indenture or the Notes following an Event of Default, any holder of a beneficial interest in a Global Note may directly enforce against the Company, without the consent, solicitation, proxy,
      authorization or any other action of the Depositary or any other Person, such holder’s right to exchange such beneficial interest for a Note in certificated form in accordance with the provisions of this Indenture.

  

  

  
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  Section 8.04. Company-Owned

        Notes Disregarded.  In determining whether the Holders of the requisite aggregate principal amount of Notes have concurred in any direction, consent, waiver or other action under this Indenture, Notes that are owned by the Company, by any
      Subsidiary thereof or by any Affiliate of the Company or any Subsidiary thereof shall be disregarded and deemed not to be outstanding for the purpose of any such determination; provided that for the purposes of determining whether the Trustee shall be protected in relying on any such direction, consent, waiver or other action, only Notes that a Responsible Officer of the Trustee actually knows
      are so owned shall be so disregarded.  Notes so owned that have been pledged in good faith may be regarded as outstanding for the purposes of this Section 8.04 if the pledgee shall establish to the satisfaction of the Trustee the pledgee’s right to
      so act with respect to such Notes and that the pledgee is not the Company, a Subsidiary thereof or an Affiliate of the Company or a Subsidiary thereof.  In the case of a dispute as to such right, any decision by the Trustee taken upon the advice of
      counsel shall be full protection to the Trustee.  Upon request of the Trustee, the Company shall furnish to the Trustee promptly an Officer’s Certificate listing and identifying all Notes, if any, known by the Company to be owned or held by or for
      the account of any of the above described Persons; and, subject to Section 7.01, the Trustee shall be entitled to accept such Officer’s Certificate as conclusive evidence of the facts therein set forth and of the fact that all Notes not listed
      therein are outstanding for the purpose of any such determination.

  

  

  Section 8.05. Revocation

        of Consents; Future Holders Bound.  At any time prior to (but not after) the evidencing to the Trustee, as provided in Section 8.01, of the taking of any action by the Holders of the percentage of the aggregate principal amount of the Notes
      specified in this Indenture in connection with such action, any Holder of a Note that is shown by the evidence to be included in the Notes the Holders of which have consented to such action may, by filing written notice with the Trustee at its
      Corporate Trust Office and upon proof of holding as provided in Section 8.02, revoke such action so far as concerns such Note.  Except as aforesaid, any such action taken by the Holder of any Note shall be conclusive and binding upon such Holder and
      upon all future Holders and owners of such Note and of any Notes issued in exchange or substitution therefor or upon registration of transfer thereof, irrespective of whether any notation in regard thereto is made upon such Note or any Note issued in
      exchange or substitution therefor or upon registration of transfer thereof.

  

  

  ARTICLE 9

  Holders’ Meetings

  

  

  Section 9.01. Purpose

        of Meetings.  A meeting of Holders may be called at any time and from time to time pursuant to the provisions of this Article 9 for any of the following purposes:

  

  

  (a)          to give any notice to the Company or to the Trustee or
      to give any directions to the Trustee permitted under this Indenture, or to consent to the waiving of any Default or Event of Default hereunder (in each case, as permitted under this Indenture) and its consequences, or to take any other action
      authorized to be taken by Holders pursuant to any of the provisions of Article 6;

  

  

  (b)          to remove the Trustee and nominate a successor trustee
      pursuant to the provisions of Article 7;

  

  

  
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  (c)          to consent to the execution of an indenture or
      indentures supplemental hereto pursuant to the provisions of Section 10.02; or

  

  

  (d)          to take any other action authorized to be taken by or on
      behalf of the Holders of any specified aggregate principal amount of the Notes under any other provision of this Indenture or under applicable law.

  

  

  Section 9.02. Call

        of Meetings by Trustee.  The Trustee may at any time call a meeting of Holders to take any action specified in Section 9.01, to be held at such time and at such place as the Trustee shall determine.  Notice of every meeting of the Holders,
      setting forth the time and the place of such meeting and in general terms the action proposed to be taken at such meeting and the establishment of any record date pursuant to Section 8.01, shall be delivered to Holders.  Such notice shall also be
      delivered to the Company.  Such notices shall be delivered not less than 20 nor more than 90 days prior to the date fixed for the meeting.

  

  

  Any meeting of Holders shall be valid without notice if the Holders of all Notes then outstanding are present in person or
      by proxy or if notice is waived before or after the meeting by the Holders of all Notes then outstanding, and if the Company and the Trustee are either present by duly authorized representatives or have, before or after the meeting, waived notice.

  

  

  Section 9.03. Call

        of Meetings by Company or Holders.  In case at any time the Company, pursuant to a Board Resolution, or the Holders of at least 10% of the aggregate principal amount of the Notes then outstanding, shall have requested the Trustee to call a
      meeting of Holders, by written request setting forth in reasonable detail the action proposed to be taken at the meeting, and the Trustee shall not have delivered the notice of such meeting within 20 days after receipt of such request, then the
      Company or such Holders may determine the time and the place for such meeting and may call such meeting to take any action authorized in Section 9.01, by delivering notice thereof as provided in Section 9.02.

  

  

  Section 9.04. Qualifications for Voting.  To be entitled to vote at any meeting of Holders a Person shall (a) be a Holder of one or more Notes on the record date pertaining to such meeting or (b) be a Person appointed by
      an instrument in writing as proxy by a Holder of one or more Notes on the record date pertaining to such meeting.  The only Persons who shall be entitled to be present or to speak at any meeting of Holders shall be the Persons entitled to vote at
      such meeting and their counsel and any representatives of the Trustee and its counsel and any representatives of the Company and its counsel.

  

  

  Section 9.05. Regulations. 

      Notwithstanding any other provisions of this Indenture, the Trustee may make such reasonable regulations as it may deem advisable for any meeting of Holders, in regard to proof of the holding of Notes and of the appointment of proxies, and in regard
      to the appointment and duties of inspectors of votes, the submission and examination of proxies, certificates and other evidence of the right to vote, and such other matters concerning the conduct of the meeting as it shall think fit.

  

  

  The Trustee shall, by an instrument in writing, appoint a temporary chairman of the meeting, unless the meeting shall have been called by the Company
      or by Holders as provided in Section 9.03, in which case the Company or the Holders calling the meeting, as the case may be, shall in like manner appoint a temporary chairman.  A permanent chairman and a permanent secretary of the meeting shall be
      elected by vote of the Holders of a majority in aggregate principal amount of the Notes represented at the meeting and entitled to vote at the meeting.

  

  

  
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  Subject to the provisions of Section 8.04, at any meeting of Holders each Holder or proxyholder shall be entitled to one vote for each $1,000
      principal amount of Notes held or represented by him or her; provided, however, that no vote shall be cast or counted at any meeting in respect of any Note challenged as not outstanding and ruled by the chairman of the meeting to be not outstanding.  The chairman of the meeting shall have
      no right to vote other than by virtue of Notes held by it or instruments in writing as aforesaid duly designating it as the proxy to vote on behalf of other Holders.  Any meeting of Holders duly called pursuant to the provisions of Section 9.02 or
      Section 9.03 may be adjourned from time to time by the Holders of a majority of the aggregate principal amount of Notes represented at the meeting, whether or not constituting a quorum, and the meeting may be held as so adjourned without further
      notice.

  

  

  Section 9.06. Voting. 

      The vote upon any resolution submitted to any meeting of Holders shall be by written ballot on which shall be subscribed the signatures of the Holders or of their representatives by proxy and the outstanding aggregate principal amount of the Notes
      held or represented by them.  The permanent chairman of the meeting shall appoint two inspectors of votes who shall count all votes cast at the meeting for or against any resolution and who shall make and file with the secretary of the meeting their
      verified written reports in duplicate of all votes cast at the meeting.  A record in duplicate of the proceedings of each meeting of Holders shall be prepared by the secretary of the meeting and there shall be attached to said record the original
      reports of the inspectors of votes on any vote by ballot taken thereat and affidavits by one or more Persons having knowledge of the facts setting forth a copy of the notice of the meeting and showing that said notice was delivered as provided in
      Section 9.02.  The record shall show the aggregate principal amount of the Notes voting in favor of or against any resolution.  The record shall be signed and verified by the affidavits of the permanent chairman and secretary of the meeting and one
      of the duplicates shall be delivered to the Company and the other to the Trustee to be preserved by the Trustee, the latter to have attached thereto the ballots voted at the meeting.

  

  

  Any record so signed and verified shall be conclusive evidence of the matters therein stated.

  

  

  Section 9.07. No

        Delay of Rights by Meeting.  Nothing contained in this Article 9 shall be deemed or construed to authorize or permit, by reason of any call of a meeting of Holders or any rights expressly or impliedly conferred hereunder to make such call,
      any hindrance or delay in the exercise of any right or rights conferred upon or reserved to the Trustee or to the Holders under any of the provisions of this Indenture or of the Notes.

  

  

  
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  ARTICLE 10

  Supplemental Indentures

  

  

  Section 10.01. Supplemental

        Indentures Without Consent of Holders.  The Company, without the consent of or notice to Holders, when authorized by the resolutions of the Board of Directors and the Trustee, at the Company’s expense, may from time to time and at any time
      enter into an indenture or indentures supplemental hereto for one or more of the following purposes:

  

  

  (a)          to cure any ambiguity, omission, defect or
      inconsistency;

  

  

  (b)          to provide for the assumption by a Successor Company of
      the obligations of the Company under this Indenture pursuant to Article 11;

  

  

  (c)          to add guarantees with respect to the Notes;

  

  

  (d)          to secure the Notes;

  

  

  (e)          to add to the covenants or Events of Default of the
      Company for the benefit of the Holders or surrender any right or power conferred upon the Company under this Indenture;

  

  

  (f)          to make any change that does not adversely affect the
      rights of any Holder in any material respect;

  

  

  (g)          to provide for the acceptance of appointment by a
      successor trustee or facilitate the administration of the trusts under this Indenture by more than one trustee;

  

  

  (h)          to increase the Conversion Rate as provided herein;

  

  

  (i)          to irrevocably elect a Settlement Method or a Specified
      Dollar Amount,  eliminate the Company’s right to elect a Settlement Method;

  

  

  (j)          in connection with any Merger Event, to provide that the
      Notes are convertible into Reference Property, subject to the provisions of Section 14.02, and make such related changes to the terms of the Notes and conversion rights of the Holders to the extent expressly required by Section 14.07;

  

  

  (k)          to conform the provisions of this Indenture or the Notes
      to the “Description of Notes” section of the Offering Memorandum, as evidenced by an Officer’s Certificate; or

  

  

  (l)          to provide for the issuance of Additional Notes as
      permitted by this Indenture.

  

  

  Upon the written request of the Company, the Trustee is hereby authorized to join with the Company in the execution of any such supplemental
      indenture, to make any further appropriate agreements and stipulations that may be therein contained, but the Trustee shall not be obligated to, but may in its discretion, enter into any supplemental indenture that affects the Trustee’s own rights,
      duties or immunities under this Indenture or otherwise.

  

  

  Any supplemental indenture authorized by the provisions of this Section 10.01 may be executed by the Company and the Trustee without the consent of
      the Holders of any of the Notes at the time outstanding, notwithstanding any of the provisions of Section 10.02.

  

  

  
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  Section 10.02. Supplemental

        Indentures with Consent of Holders.  With the consent (evidenced as provided in Article 8) of the Holders of at least a majority of the aggregate principal amount of the Notes then outstanding (determined in accordance with Article 8 and
      including, without limitation, consents obtained in connection with a repurchase of, or tender or exchange offer for, Notes), the Company, when authorized by the resolutions of the Board of Directors, at the Company’s expense, may from time to time
      and at any time enter into an indenture or indentures supplemental hereto for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or any supplemental indenture or of modifying in
      any manner the rights of the Holders; provided, however,
      that, without the consent of each Holder of an outstanding Note affected, no such supplemental indenture shall:

  

  

  (a)          reduce the principal amount of Notes whose Holders must
      consent to an amendment;

  

  

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

  

  

  (c)          reduce the principal of or extend the Maturity Date of
      any Note;

  

  

  (d)          other than as expressly required or permitted by this
      Indenture or applicable law, make any change that adversely affects the conversion rights of any Notes;

  

  

  (e)          reduce the Redemption Price or the Fundamental Change
      Repurchase Price of any Note or amend or modify in any manner adverse to the Holders the Company’s obligation to make such payments, whether through an amendment or waiver of provisions in the covenants, definitions or otherwise;

  

  

  (f)          make any Note payable in a currency, or at a place of
      payment, other than that stated in the Note;

  

  

  (g)          change the ranking of the Notes;

  

  

  (h)          [Reserved];

  

  

  (i)          impair the right of any Holder to receive payment or
      principal and interest on such Holder’s Notes on or after the due dates therefor or to institute suit for the enforcement of any payment on or with respect to such Holder’s Notes; or

  

  

  (j)          make any change in this Article 10 that requires each
      Holder’s consent or in the waiver provisions in Section 6.02 or Section 6.09.

  

  

  Upon the written request of the Company, and upon the filing with the Trustee of evidence of the consent of the requisite Holders as aforesaid and
      subject to Section 10.05, the Trustee shall join with the Company in the execution of such supplemental indenture unless such supplemental indenture affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise, in which
      case the Trustee may in its discretion, but shall not be obligated to, enter into such supplemental indenture.

  

  

  Holders do not need under this Section 10.02 to approve the particular form of any proposed supplemental indenture.  It shall be sufficient if such
      Holders approve the substance thereof.  After any such supplemental indenture becomes effective, the Company shall deliver to the Holders a notice briefly describing such supplemental indenture. However, the failure to give such notice to all the
      Holders, or any defect in the notice, will not impair or affect the validity of the supplemental indenture.

  

  

  
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  Section 10.03. Effect
        of Supplemental Indentures.  Upon the execution of any supplemental indenture pursuant to the provisions of this Article 10, this Indenture shall be, and shall be deemed to be, modified and amended in accordance therewith and the respective
      rights, limitation of rights, obligations, duties and immunities under this Indenture of the Trustee, the Company and the Holders shall thereafter be determined, exercised and enforced hereunder subject in all respects to such modifications and
      amendments and all the terms and conditions of any such supplemental indenture shall be and be deemed to be part of the terms and conditions of this Indenture for any and all purposes.

  

  

  Section 10.04. Notation

        on Notes.  Notes authenticated and delivered after the execution of any supplemental indenture pursuant to the provisions of this Article 10 may, at the Company’s expense, bear a notation in a form approved by the Trustee as to any matter
      provided for in such supplemental indenture.  If the Company or the Trustee shall so determine, new Notes so modified as to conform, in the opinion of the Trustee and the Company, to any modification of this Indenture contained in any such
      supplemental indenture may, at the Company’s expense, be prepared and executed by the Company, authenticated by the Trustee (or an authenticating agent duly appointed by the Trustee pursuant to Section 17.10) and delivered in exchange for the Notes
      then outstanding, upon surrender of such Notes then outstanding.

  

  

  Section 10.05. Evidence

        of Compliance of Supplemental Indenture to Be Furnished Trustee.  In addition to the documents required by Section 17.05, the Trustee shall receive an Officer’s Certificate and an Opinion of Counsel as conclusive evidence that any
      supplemental indenture executed pursuant hereto complies with the requirements of this Article 10 and is permitted or authorized by this Indenture and, with respect to such Opinion of Counsel is the legal, valid and binding obligation of the Company,
      enforceable against it in accordance with its terms.

  

  

  ARTICLE 11

  Consolidation, Merger, Sale, Conveyance and Lease

  

  

  Section 11.01. Company

        May Consolidate, Etc. on Certain Terms.  Subject to the provisions of Section 11.02, the Company shall not consolidate with or merge into, or sell, convey, transfer or lease all or substantially all of the properties and assets of the
      Company to another Person, unless:

  

  

  (a)          the resulting, surviving or transferee Person (the “Successor Company”), if not the Company, shall be a corporation organized and existing under the laws of the United States of America, any State thereof or
      the District of Columbia, and the Successor Company (if not the Company) shall expressly assume, by supplemental indenture, all of the obligations of the Company under the Notes and this Indenture; and

  

  

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

  

  

  
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  For purposes of this Section 11.01, the sale, conveyance, transfer or lease of all or substantially all of the properties and assets of one or more
      Subsidiaries of the Company to another Person, which properties and assets, if held by the Company instead of such Subsidiaries, would constitute all or substantially all of the properties and assets of the Company on a consolidated basis, shall be
      deemed to be the sale, conveyance, transfer or lease of all or substantially all of the properties and assets of the Company to another Person.

  

  

  Section 11.02. Successor

        Corporation to Be Substituted.  In case of any such consolidation, merger, sale, conveyance, transfer or lease and upon 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 and accrued and unpaid interest 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 (if not the Company) shall succeed to and, except in the case of a lease of all or
      substantially all of the Company’s properties and assets, shall be substituted for the Company, with the same effect as if it had been named herein as the party of the first part, and the Company (except in the case of a lease of all or substantially
      all of the Company’s property and assets) shall be discharged from the obligations of the Company under the Notes and this Indenture.  Such Successor Company thereupon may cause to be signed, and may issue either in its own name or in the name of the
      Company 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 previously shall have been signed and delivered by the Officers of the Company to the Trustee
      for authentication, and 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.  In the event of any such consolidation, merger, sale, conveyance or
      transfer (but not in the case of a lease), upon compliance with this Article 11 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 11) 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 and the Notes.

  

  

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

  

  

  Section 11.03. Opinion

        of Counsel to Be Given to Trustee.  No such consolidation, merger, sale, conveyance, transfer or lease shall be effective unless the Trustee shall receive an Officer’s Certificate and an Opinion of Counsel as conclusive evidence that any
      such consolidation, merger, sale, conveyance, transfer or lease and any such assumption and, if a supplemental indenture is required in connection with such transaction, such supplemental indenture, complies with the provisions of this Article 11.

  

  

  
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  ARTICLE 12

  Immunity of Incorporators, Stockholders, Officers and Directors

  

  

  Section 12.01. Indenture

        and Notes Solely Corporate Obligations.  No recourse for the payment of the principal of or accrued and unpaid interest on any Note, nor for any claim based thereon or otherwise in respect thereof, and no recourse under or upon any
      obligation, covenant or agreement of the Company in this Indenture or in any supplemental indenture or in any Note, nor because of the creation of any indebtedness represented thereby, shall be had against any incorporator, stockholder, employee,
      agent, Officer or director or Subsidiary, as such, past, present or future, of the Company or of any successor corporation, either directly or through the Company or any successor corporation, whether by virtue of any constitution, statute or rule of
      law, or by the enforcement of any assessment or penalty or otherwise; it being expressly understood that all such liability is hereby expressly waived and released as a condition of, and as a consideration for, the execution of this Indenture and the
      issue of the Notes.

  

  

  ARTICLE 13

  [intentionally omitted]

  

  

  ARTICLE 14

  Conversion of Notes

  

  

  Section 14.01. Conversion

      Privilege.  (a)  Subject to and upon compliance with the provisions of this Article 14, each Holder of a Note shall have the right, at such Holder’s option, to convert
      all or any portion (if the portion to be converted is $1,000 principal amount or an integral multiple thereof) of such Note (i) subject to satisfaction of the conditions described in Section 14.01(b), at any time prior to the close of business on the
      Business Day immediately preceding December 1, 2023 under the circumstances and during the periods set forth in Section 14.01(b), and (ii) regardless of the conditions described in Section 14.01(b), on or after December 1, 2023 and prior to the close
      of business on the second Scheduled Trading Day immediately preceding the Maturity Date, in each case, at an initial conversion rate of 59.8256 shares of Common Stock (subject to adjustment as provided in this Article 14, the “Conversion Rate”) per $1,000 principal amount of Notes (subject to, and in accordance
      with, the settlement provisions of Section 14.02, the “Conversion Obligation”).

  

  

  (b)          (i)  Prior to the close of business on the Business Day
      immediately preceding December 1, 2023, a Holder may surrender all or any portion of its Notes for conversion at any time during the five Business Day period immediately after any five consecutive Trading Day period (the “Measurement Period”) in which the Trading Price per $1,000 principal amount of Notes, as determined following a request by a Holder of Notes in accordance with this
      subsection (b)(i), for each Trading Day of the Measurement Period was less than 98% of the product of the Last Reported Sale Price of the Common Stock on each such Trading Day and the Conversion Rate on each such Trading Day.  The Trading Prices
      shall be determined by the Bid Solicitation Agent pursuant to this subsection (b)(i) and the definition of Trading Price set forth in this Indenture.  The Company shall provide written notice to the Bid Solicitation Agent (if other than the Company
      or an Affiliate thereof) of the three independent nationally recognized securities dealers selected by the Company pursuant to the definition of Trading Price, along with appropriate contact information for each.  The Bid Solicitation Agent (if other
      than the Company) shall have no obligation to determine the Trading Price per $1,000 principal amount of Notes unless the Company has requested in writing such determination, and the Company shall have no obligation to make such request (or, if the
      Company is acting as Bid Solicitation Agent, the Company shall have no obligation to determine the Trading Price per $1,000 principal amount of Notes unless a Holder provides the Company with reasonable evidence that the Trading Price per $1,000
      principal amount of Notes on any Trading Day would be less than 98% of the product of the Last Reported Sale Price of the Common Stock on such Trading Day and the Conversion Rate on such Trading Day, at which time the Company shall instruct the Bid
      Solicitation Agent (if other than the Company) to determine, or if the Company is acting as Bid Solicitation Agent, the Company shall determine, the Trading Price per $1,000 principal amount of Notes beginning on the next Trading Day and on each
      successive Trading Day until the Trading Price per $1,000 principal amount of Notes is greater than or equal to 98% of the product of the Last Reported Sale Price of the Common Stock and the Conversion Rate.  If (x) the Company is not acting as Bid
      Solicitation Agent, and the Company does not, when it is required to, instruct the Bid Solicitation Agent in writing to determine the Trading Price per $1,000 principal amount of Notes when obligated as provided in the preceding sentence, or if the
      Company gives such written instruction to the Bid Solicitation Agent and the Bid Solicitation Agent fails to make such determination, or (y) the Company is acting as Bid Solicitation Agent and the Company fails to make such determination when
      obligated as provided in the preceding sentence, then, in either case, the Trading Price per $1,000 principal amount of Notes shall be deemed to be less than 98% of the product of the Last Reported Sale Price of the Common Stock and the Conversion
      Rate in effect on each Trading Day of such failure.  If the Trading Price condition set forth above has been met, the Company shall so notify the Holders, the Trustee and the Conversion Agent (if other than the Trustee).  If, at any time after the
      Trading Price condition set forth above has been met, the Trading Price per $1,000 principal amount of Notes is greater than or equal to 98% of the product of the Last Reported Sale Price of the Common Stock and the Conversion Rate for such date, the
      Company shall so notify in writing the Holders of the Notes, the Trustee and the Conversion Agent (if other than the Trustee).  Neither the Trustee nor the Conversion Agent shall have any duty to determine or verify the Company’s determination of
      whether the Trading Price condition has been met.

  

  

  
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  (ii)          If the Company elects to:

  

  

  (A)          issue to all or substantially all
      holders of the Common Stock any rights, options or warrants (other than in connection with a stockholder rights plan prior to the separation of such rights from the Common Stock) entitling them, for a period of not more than 60 calendar days after
      the announcement date of such issuance, 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 date of announcement of such issuance; or

  

  

  (B)          distribute to all or substantially
      all holders of the Common Stock the Company’s assets, securities or rights to purchase securities of the Company (other than in connection with a stockholder rights plan prior to the separation of such rights from the Common Stock), which
      distribution has a per share value, as reasonably determined by the Company in good faith, exceeding 10% of the Last Reported Sale Price of the Common Stock on the Trading Day preceding the date of announcement for such distribution,

  

  

  then, in either case, the Company shall notify in writing all Holders of the Notes, the Trustee and the Conversion Agent (if other than the Trustee) at least 60 Scheduled
      Trading Days prior to the Ex-Dividend Date for such issuance or distribution.  Once the Company has given such notice, a Holder may surrender all or any portion of its Notes for conversion at any time until the earlier of (1) the close of business on
      the Business Day immediately preceding the Ex-Dividend Date for such issuance or distribution and (2) the Company’s announcement that such issuance or distribution will not take place, in each case, even if the Notes are not otherwise convertible at
      such time.

  

  

  (iii)          If a transaction or event that
      constitutes a Fundamental Change or a Make-Whole Fundamental Change occurs, regardless of whether a Holder has the right to require the Company to repurchase the Notes pursuant to Section 15.02, or if the Company is a party to a consolidation,
      merger, binding share exchange, or transfer or lease of all or substantially all of its assets (in each case, other than solely for the purpose of changing the jurisdiction of organization of the Company solely within the United States that (x) does
      not constitute a Fundamental Change or a Make-Whole Fundamental Change and (y) results in a reclassification, conversion or exchange of outstanding shares of the Common Stock solely into shares of common stock of the surviving entity and such common
      stock becomes the sole Reference Property for the Notes) that occurs prior to the close of business on the Business Day immediately preceding December 1, 2023, in each case, pursuant to which the Common Stock would be converted into cash, securities
      or other assets, all or any portion of a Holder’s Notes may be surrendered for conversion at any time from or after the effective date of such transaction or event until 35 Trading Days after the actual effective date of such transaction or, if such
      transaction or event also constitutes a Fundamental Change, until the close of business on the Business Day immediately preceding the related Fundamental Change Repurchase Date.  The Company shall notify Holders, the Trustee and the Conversion Agent
      (if other than the Trustee) as promptly as practicable following the date the Company publicly announces such transaction (but in no event later than the actual effective date of such transaction).

  

  

  (iv)          Prior to the close of business on
      the Business Day immediately preceding December 1, 2023, a Holder may surrender all or any portion of its Notes for conversion at any time during any calendar quarter commencing after the calendar quarter ending on September 30, 2019 (and only during
      such calendar quarter), if the Last Reported Sale Price of the Common Stock for at least 20 Trading Days (whether or not consecutive) during the period of 30 consecutive Trading Days ending on, and including, the last Trading Day of the immediately
      preceding calendar quarter is greater than or equal to 130% of the Conversion Price on each applicable Trading Day.  The Company shall determine at the beginning of each calendar quarter commencing October 1, 2019 whether the Notes may be surrendered
      for conversion in accordance with this clause (iv) and shall notify the Trustee and the Conversion Agent (if other than the Trustee) if the Notes become convertible in accordance with this clause (iv).

  

  

  
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  (v)          If the Company calls any or all of
      the Notes for Optional Redemption prior to the close of business on the Business Day immediately preceding December 1, 2023 pursuant to Article 16, then a Holder may surrender for conversion all or any portion of its Notes called for Optional
      Redemption at any time prior to the close of business on the Business Day immediately preceding the Redemption Date, even if the Notes called for Optional Redemption are not otherwise convertible at such time.  After that time, the right of the
      Holders to convert shall expire, unless the Company defaults in the payment of the Redemption Price, in which case a Holder of Notes called for Optional Redemption may convert its Notes until the Redemption Price has been paid or duly provided for.

  

  

  Section 14.02. Conversion Procedure; Settlement upon
        Conversion.

  

  

  (a)          Subject to this Section 14.02, Section 14.03(b) and
      Section 14.07(a), upon conversion of any Note, the Company shall pay or deliver, as the case may be, to the converting Holder, in respect of each $1,000 principal amount of Notes being converted, cash (“Cash Settlement”), shares of Common Stock, together with cash, if applicable, in lieu of delivering any fractional share of Common Stock in accordance with subsection (j) of this Section 14.02
      (“Physical Settlement”) or a combination of cash and shares of Common Stock, together with cash, if applicable, in lieu of delivering any fractional
      share of Common Stock in accordance with subsection (j) of this Section 14.02 (“Combination Settlement”), at its election, as set forth in this Section
      14.02.

  

  

  (i)          All conversions for which the
      relevant Conversion Date occurs on or after December 1, 2023 shall be settled using the same Settlement Method.

  

  

  (ii)          Except for any conversions for which
      the relevant Conversion Date occurs on or after December 1, 2023, the Company shall use the same Settlement Method for all conversions with the same Conversion Date, but the Company shall not have any obligation to use the same Settlement Method with
      respect to conversions with different Conversion Dates. However, notwithstanding anything to the contrary in clause (i) above or this clause (ii), if the Company calls any Notes for Optional Redemption, then the Company will specify in the related
      Notice of Redemption (and, in the case of an Optional Redemption of less than all Notes then outstanding, in a notice sent simultaneously to all Holders of Notes not called for Optional Redemption) the Settlement Method that will apply to all
      conversions with a Conversion Date that occurs on or after the date the Company sends such Notice of Redemption and on or before the close of business on the Business Day immediately preceding the related Redemption Date.

  

  

  
    57

    
      

  

  (iii)          If, in respect of any Conversion
      Date (or the period described in the third immediately succeeding set of parentheses, as the case may be), the Company elects to deliver a notice (the “Settlement

        Notice”) of the relevant Settlement Method in respect of such Conversion Date (or such period, as the case may be), the Company shall deliver such Settlement Notice to converting Holders, the Trustee and the Conversion Agent (if other than
      the Trustee) no later than the close of business on the Trading Day immediately following the relevant Conversion Date (or, in the case of any conversions for which the relevant Conversion Date occurs (x) after the date of issuance of a Notice of
      Redemption and prior to the close of business on the Business Day immediately preceding related Redemption Date, in such Notice of Redemption as described above or (y) on or after December 1, 2023, no later than the close of business on December 1,
      2023).  If the Company does not elect a Settlement Method as described in the immediately preceding sentence prior to the deadline set forth in the immediately preceding sentence, the Company shall no longer have the right to elect Cash Settlement or
      Physical Settlement for such conversion or during such period and the Company shall be deemed to have elected Combination Settlement in respect of its Conversion Obligation, and the Specified Dollar Amount per $1,000 principal amount of Notes to be
      converted shall be equal to $1,000.  Such Settlement Notice shall specify the relevant Settlement Method and in the case of an election of Combination Settlement, the relevant Settlement Notice shall indicate the Specified Dollar Amount per $1,000
      principal amount of Notes.  If the Company delivers a Settlement Notice electing Combination Settlement in respect of its Conversion Obligation but does not indicate a Specified Dollar Amount per $1,000 principal amount of Notes in such Settlement
      Notice, the Specified Dollar Amount per $1,000 principal amount of Notes shall be deemed to be $1,000.

  

  

  (iv)          The cash, shares of Common Stock or
      combination of cash and shares of Common Stock in respect of any conversion of Notes (the “Settlement Amount”) shall be computed as follows:

  

  

  (A)          if the Company elects to satisfy its
      Conversion Obligation in respect of such conversion by Physical Settlement, the Company shall deliver to the converting Holder in respect of each $1,000 principal amount of Notes being converted a number of shares of Common Stock equal to the
      Conversion Rate in effect on the Conversion Date;

  

  

  (B)          if the Company elects to satisfy its
      Conversion Obligation in respect of such conversion by Cash Settlement, the Company shall pay to the converting Holder in respect of each $1,000 principal amount of Notes being converted cash in an amount equal to the sum of the Daily Conversion
      Values for each of the 50 consecutive Trading Days during the related Observation Period; and

  

  

  (C)          if the Company elects (or is deemed
      to have elected) to satisfy its Conversion Obligation in respect of such conversion by Combination Settlement, the Company shall pay or deliver, as the case may be, in respect of each $1,000 principal amount of Notes being converted, a Settlement
      Amount equal to the sum of the Daily Settlement Amounts for each of the 50 consecutive Trading Days during the related Observation Period.

  

  

  
    58

    
      

  

  (v)          The Daily Settlement Amounts (if
      applicable) and the Daily Conversion Values (if applicable) shall be determined by the Company promptly following the last day of the Observation Period.  Promptly after such determination of the Daily Settlement Amounts or the Daily Conversion
      Values, as the case may be, and the amount of cash payable in lieu of delivering any fractional share of Common Stock, the Company shall notify the Trustee and the Conversion Agent (if other than the Trustee) in writing of the Daily Settlement
      Amounts or the Daily Conversion Values, as the case may be, and the amount of cash payable in lieu of delivering fractional shares of Common Stock.  The Trustee and the Conversion Agent (if other than the Trustee) shall have no responsibility for any
      such determination.

  

  

  (b)          Subject to Section 14.02(e), before any Holder of a Note shall be entitled to convert a Note as set forth above, such Holder shall (i) in the case of a Global Note, comply with the procedures of the Depositary in effect at
      that time and, if required, pay funds equal to interest payable on the next Interest Payment Date to which such Holder is not entitled as set forth in Section 14.02(h) and, if required, pay all transfer or similar taxes, if any, and (ii) in the case
      of a Physical Note (1) complete, manually sign and deliver an irrevocable notice to the Conversion Agent as set forth in the Form of Notice of Conversion (or a facsimile thereof) (a “Notice of Conversion”) at the office of the Conversion Agent and state in writing therein the principal amount of Notes to be converted and the name or names (with addresses) in which such Holder wishes the
      certificate or certificates for any shares of Common Stock to be delivered upon settlement of the Conversion Obligation to be registered, (2) surrender such Notes, duly endorsed to the Company or in blank (and accompanied by appropriate endorsement
      and transfer documents), at the office of the Conversion Agent, (3) if required, furnish appropriate endorsements and transfer documents and (4) if required, pay funds equal to interest payable on the next Interest Payment Date to which such Holder
      is not entitled as set forth in Section 14.02(h).  The Trustee (and if different, the Conversion Agent) shall notify the Company of any conversion pursuant to this Article 14 on the Conversion Date for such conversion.  No Notice of Conversion with
      respect to any Notes may be delivered by a Holder thereof if such Holder has also delivered a Fundamental Change Repurchase Notice to the Company in respect of such Notes and has not validly withdrawn such Fundamental Change Repurchase Notice in
      accordance with Section 15.03.

  

  

  If more than one Note shall be surrendered for conversion at one time by the same Holder, the Conversion Obligation with respect to such Notes shall
      be computed on the basis of the aggregate principal amount of the Notes (or specified portions thereof to the extent permitted thereby) so surrendered.

  

  

  (c)          A Note shall be deemed to have been converted
      immediately prior to the close of business on the date (the “Conversion Date”) that the Holder has complied with the requirements set forth in
      subsection (b) above.  Except as set forth in Section 14.03(b) and Section 14.07(a), the Company shall pay or deliver, as the case may be, the consideration due in respect of the Conversion Obligation on the second Business Day immediately following
      the relevant Conversion Date, if the Company elects Physical Settlement, or on the second Business Day immediately following the last Trading Day of the Observation Period, in the case of any other Settlement Method; provided however that with respect to conversions for which Physical Settlement applies and the relevant Conversion Date occurs after the Regular Record Date immediately
      preceding the Maturity Date, the Company shall deliver and, if applicable, pay the consideration due in respect of the Conversion Obligation, on the Maturity Date.  If any shares of Common Stock are due to converting Holders, the Company shall issue
      or cause to be issued, and deliver (if applicable) to the Conversion Agent or to such Holder, or such Holder’s nominee or nominees, the full number of shares of Common Stock to which such Holder shall be entitled, in certificate form or in book-entry
      format through the Depositary, in satisfaction of the Company’s Conversion Obligation.

  

  

  
    59

    
      

  

  (d)          In case any Physical Note shall be surrendered for
      partial conversion, the Company shall execute and the Trustee shall authenticate and deliver to or upon the written order of the Holder of the Physical Note so surrendered a new Physical Note or Notes in authorized denominations in an aggregate
      principal amount equal to the unconverted portion of the surrendered Physical Note, without payment of any service charge by the converting Holder but, if required by the Company or Trustee, with payment of a sum sufficient to cover any documentary,
      stamp or similar issue or transfer tax or similar governmental charge required by law or that may be imposed in connection therewith as a result of the name of the Holder of the new Physical Notes issued upon such conversion being different from the
      name of the Holder of the old Physical Notes surrendered for such conversion.

  

  

  (e)          If a Holder submits a Note for conversion, the Company
      shall pay any documentary, stamp or similar issue or transfer tax due on the issue of any shares of Common Stock upon conversion, unless the tax is due because the Holder requests such shares to be issued in a name other than the Holder’s name, in
      which case the Holder shall pay that tax.  The Conversion Agent may refuse to deliver the certificates representing the Common Stock being issued in a name other than the Holder’s name until the Trustee receives a sum sufficient to pay any tax that
      is due by such Holder in accordance with the immediately preceding sentence.

  

  

  (f)          Except as provided in Section 14.04, no adjustment shall
      be made for dividends on any shares of Common Stock issued upon the conversion of any Note as provided in this Article 14.

  

  

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

  

  

  (h)          Upon conversion, a Holder shall not receive any separate
      cash payment for accrued and unpaid interest, if any, except as set forth below.  The Company’s settlement of the full Conversion Obligation shall be deemed to satisfy in full its obligation to pay the principal amount of the Note and accrued and
      unpaid interest, if any, to, but not including, the relevant Conversion Date. As a result, accrued and unpaid interest, if any, to, but not including, the relevant Conversion Date shall be deemed to be paid in full rather than cancelled, extinguished
      or forfeited.  Upon a conversion of Notes into a combination of cash and shares of Common Stock, accrued and unpaid interest will be deemed to be paid first out of the cash paid upon such conversion.  Notwithstanding the foregoing, if Notes are
      converted after the close of business on a Regular Record Date and prior to the open of business on the corresponding Interest Payment Date, Holders of such Notes as of the close of business on such Regular Record Date will receive the full amount of
      interest payable on such Notes on the corresponding Interest Payment Date notwithstanding the conversion.  However, Notes surrendered for conversion during the period from the close of business on any Regular Record Date to the open of business on
      the immediately following Interest Payment Date must be accompanied by funds equal to the amount of interest payable on the Notes so converted (regardless of whether the converting Holder was the Holder of record on such Regular Record Date); provided that no such payment shall be required (1) for conversions following the Regular Record Date immediately preceding the Maturity Date; (2) if the
      Company has specified a Fundamental Change Repurchase Date that is after a Regular Record Date and on or prior to the second Business Day immediately following the corresponding Interest Payment Date; (3) if the Company has specified a Redemption
      Date that is after a Regular Record Date and on or prior to the second Business Day immediately following the corresponding Interest Payment Date; or (4) to the extent of any Defaulted Amounts, if any Defaulted Amounts exists at the time of
      conversion with respect to such Note.  Therefore, for the avoidance of doubt, all Holders of record on the Regular Record Date immediately preceding the Maturity Date shall receive the full interest payment due on the Maturity Date in cash regardless
      of whether their Notes have been converted following such Regular Record Date.

  

  

  
    60

    
      

  

  (i)          The Person in whose name any shares of Common Stock
      shall be issuable upon conversion shall be treated as a stockholder of record as of the close of business on the relevant Conversion Date (if the Company elects to satisfy the related Conversion Obligation by Physical Settlement) or the last Trading
      Day of the relevant Observation Period (if the Company elects to satisfy the related Conversion Obligation by Combination Settlement), as the case may be.  Upon a conversion of such Notes, such Person shall no longer be a Holder of such Notes
      surrendered for conversion.

  

  

  (j)          The Company shall not issue any fractional share of
      Common Stock upon conversion of the Notes and shall instead pay cash in lieu of delivering any fractional share of Common Stock issuable upon conversion based on the Daily VWAP for the relevant Conversion Date (in the case of Physical Settlement) or
      based on the Daily VWAP for the last Trading Day of the relevant Observation Period (in the case of Combination Settlement). For each Note surrendered for conversion, if the Company has elected Combination Settlement, the full number of shares of
      Common Stock that shall be issued upon conversion thereof shall be computed on the basis of the aggregate Daily Settlement Amounts for the relevant Observation Period and any fractional shares remaining after such computation shall be paid in cash.

  

  

  Section 14.03. Increased

        Conversion Rate Applicable to Certain Notes Surrendered in Connection with Make-Whole Fundamental Changes or Notice of Redemption.  (a)  If (x) the Effective Date of a Make-Whole Fundamental Change occurs prior to the Maturity Date or (y)
      the Company gives a Notice of Redemption with respect to any or all of the Notes in accordance with Article 16 and the Conversion Date occurs during the period from the date the Company gives a Notice of Redemption to the close of business on the
      Business Day immediately preceding the Redemption Date, and (b) a Holder elects to convert its Notes in connection with such Make-Whole Fundamental Change or in connection with such Notice of Redemption, as applicable, the Company shall, under the
      circumstances described below, increase the Conversion Rate for the Notes so surrendered for conversion by a number of additional shares of Common Stock (the “Additional

        Shares”), as described below.  A conversion of Notes shall be deemed for these purposes to be “in connection with” such Make-Whole Fundamental Change or Notice of Redemption if (X) in the case of a Make-Whole Fundamental Change, the relevant
      Notice of Conversion is received by the Conversion Agent from, and including, the Effective Date of the Make-Whole Fundamental Change up to, and including, the close of business on the Business Day immediately preceding the related Fundamental Change
      Repurchase Date (or, in the case of a Make-Whole Fundamental Change that would have been a Fundamental Change but for the proviso in clause (b) of
      the definition thereof, the close of business on the 35th Trading Day immediately following the Effective Date of such Make-Whole Fundamental Change) (such period, the “Make-Whole Fundamental Change Period”) and (Y) in the case of a Notice of Redemption, the relevant Notice of Conversion is received by the Conversion Agent from, and including, the date the Company gives a Notice of
      Redemption to the close of business on the business day immediately preceding the Redemption Date.

  

  

  
    61

    
      

  

  (b)          Upon surrender of Notes for conversion in connection
      with a Make-Whole Fundamental Change or a Notice of Redemption, the Company shall, at its option, satisfy the related Conversion Obligation by Physical Settlement, Cash Settlement or Combination Settlement in accordance with Section 14.02, based on
      the Conversion Rate as increased to reflect the Additional Shares pursuant to the table set forth in Section 14(e) below; provided, however, that if, at the effective time of a Make-Whole Fundamental Change described in clause (b) of the definition of Fundamental Change, the Reference
      Property following such Make-Whole Fundamental Change is composed entirely of cash, for any conversion of Notes following the Effective Date of such Make-Whole Fundamental Change, the Conversion Obligation shall be calculated based solely on the
      Stock Price for the transaction and shall be deemed to be an amount of cash per $1,000 principal amount of converted Notes equal to the Conversion Rate (including any adjustment for Additional Shares), multiplied by such Stock Price.  In such event, the Conversion Obligation shall be paid to Holders in cash on the second Business Day following the Conversion Date. The Company shall notify
      in writing the Holders of Notes, the Trustee and the Conversion Agent (if other than the Trustee) of the Effective Date of any Make-Whole Fundamental Change and issue a press release announcing such effective date no later than five Business Days
      after such Effective Date.

  

  

  (c)          The number of Additional Shares, if any, by which the
      Conversion Rate shall be increased shall be determined by reference to the table in Section 14(e) below, based on the date on which the Make-Whole Fundamental Change occurs or becomes effective or the date of the relevant Notice of Redemption, as the
      case may be (in each case, the “Effective Date”) and the price paid (or deemed to be paid) per share of the Common Stock in the Make-Whole Fundamental
      Change or with respect to the Optional Redemption, as the case may be (the “Stock Price”).  If the holders of the Common Stock receive in exchange for
      their Common Stock only cash in a Make-Whole Fundamental Change described in clause (b) of the definition of Fundamental Change, the Stock Price shall be the cash amount paid per share.  Otherwise, the Stock Price shall be the average of the Last
      Reported Sale Prices of the Common Stock over the five consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the Effective Date of the Make-Whole Fundamental Change or the Notice of Redemption, as the case may
      be.  The Company shall make appropriate adjustments to the Stock Price, in its good faith determination, to account for any adjustment to the Conversion Rate that becomes effective, or any event requiring an adjustment to the Conversion Rate where
      the Ex-Dividend Date, Effective Date (as such term is used in Section 14.04) or expiration date of the event occurs during such five consecutive Trading Day period.  In the event that a conversion in connection with a Notice of Redemption would also
      be deemed to be in connection with a Make-Whole Fundamental Change, a Holder of the Notes to be converted shall be entitled to a single increase to the Conversion Rate with respect to the first to occur of (i) the applicable date of the Notice of
      Redemption or (ii) the Effective Date of the applicable Make-Whole Fundamental Change, and the later event will be deemed not to have occurred for purposes of this section for purposes of such Converted Notes.

  

  

  
    62

    
      

  

  (d)          The Stock Prices set forth in the column headings of the
      table in Section 14(e) below shall be adjusted as of any date on which the Conversion Rate of the Notes is otherwise adjusted.  The adjusted Stock Prices shall equal the Stock Prices applicable immediately prior to such adjustment, multiplied by a fraction, the numerator of which is the Conversion Rate immediately prior to such adjustment giving rise to the Stock Price adjustment and
      the denominator of which is the Conversion Rate as so adjusted.  The number of Additional Shares set forth in the table below shall be adjusted in the same manner and at the same time as the Conversion Rate as set forth in Section 14.04.

  

  

  (e)          The following table sets forth the number of Additional
      Shares by which the Conversion Rate shall be increased per $1,000 principal amount of Notes pursuant to this Section 14.03 for each Stock Price and Effective Date set forth below:

   

    

  	 	
          
            Stock Price

          

        	 
	
          
            Effective Date

          

        	
          
            $11.73

          

        	
          
            $14.00

          

        	
          
            $16.72

          

        	
          
            $17.50

          

        	
          
            $20.00

          

        	
          
            $21.73

          

        	
          
            $25.00

          

        	
          
            $30.00

          

        	
          
            $35.00

          

        	
          
            $40.00

          

        	
          
            $50.00

          

        	
          
            $60.00

          

        
	
          June 14, 2019

        	
          25.4258

        	
          18.6878

        	
          12.7777

        	
          11.5484

        	
          8.5175

        	
          7.0075

        	
          4.9878

        	
          3.1431

        	
          2.0870

        	
          1.4372

        	
          0.6864

        	
          0.1885

        
	
          June 1, 2020

        	
          25.4258

        	
          18.0799

        	
          12.0070

        	
          10.7619

        	
          7.7338

        	
          6.2547

        	
          4.3210

        	
          2.6199

        	
          1.6876

        	
          1.1348

        	
          0.5157

        	
          0.1055

        
	
          June 1, 2021

        	
          25.4258

        	
          17.1210

        	
          10.8738

        	
          9.6204

        	
          6.6353

        	
          5.2220

        	
          3.4410

        	
          1.9669

        	
          1.2144

        	
          0.7933

        	
          0.3419

        	
          0.0432

        
	
          June 1, 2022

        	
          25.4258

        	
          15.8184

        	
          9.3267

        	
          8.0688

        	
          5.1777

        	
          3.8826

        	
          2.3555

        	
          1.2258

        	
          0.7188

        	
          0.4604

        	
          0.1973

        	
          0.0328

        
	
          June 1, 2023

        	
          25.4258

        	
          13.9607

        	
          7.0057

        	
          5.7528

        	
          3.1014

        	
          2.0669

        	
          1.0392

        	
          0.4699

        	
          0.2793

        	
          0.1917

        	
          0.0962

        	
          0.0233

        
	
          June 1, 2024

        	
          25.4258

        	
          11.6029

        	
          0.0000

        	
          0.0000

        	
          0.0000

        	
          0.0000

        	
          0.0000

        	
          0.0000

        	
          0.0000

        	
          0.0000

        	
          0.0000

        	
          0.0000

        

  

  

  The exact Stock Prices and Effective Dates may not be set forth in the table above, in which case:

  

  

  (i)          if the Stock Price is between two
      Stock Prices in the table above or the Effective Date is between two Effective Dates in the table, the number of Additional Shares shall be determined by a straight-line interpolation between the number of Additional Shares set forth for the higher
      and lower Stock Prices and the earlier and later Effective Dates, as applicable, based on a 365-day year;

  

  

  (ii)          if the Stock Price is greater than
      $60.00 per share (subject to adjustment in the same manner as the Stock Prices set forth in the column headings of the table above pursuant to subsection (d) above), no Additional Shares shall be added to the Conversion Rate; and

  

  

  (iii)          if the Stock Price is less than
      $11.73 per share (subject to adjustment in the same manner as the Stock Prices set forth in the column headings of the table above pursuant to subsection (d) above), no Additional Shares shall be added to the Conversion Rate.

  

  

  
    63

    
      

  

  Notwithstanding the foregoing, in no event shall the Conversion Rate per $1,000 principal amount of Notes exceed 85.2514 shares of Common Stock,
      subject to adjustment in the same manner as the Conversion Rate pursuant to Section 14.04.

  

  

  (f)          Nothing in this Section 14.03 shall prevent an
      adjustment to the Conversion Rate pursuant to Section 14.04 in respect of a Make-Whole Fundamental Change.

  

  

  Section 14.04. Adjustment

        of Conversion Rate.  The Conversion Rate shall be adjusted from time to time by the Company if any of the following events occurs, except that the Company shall not make any adjustments to the Conversion Rate if Holders of the Notes
      participate (other than in the case of (x) a share split or share combination or (y) a tender or exchange offer), at the same time and upon the same terms as holders of the Common Stock and solely as a result of holding the Notes, in any of the
      transactions described in this Section 14.04, without having to convert their Notes, as if they held a number of shares of Common Stock equal to the applicable Conversion Rate, multiplied by the aggregate principal amount (expressed in thousands) of Notes held by such Holder.

  

  

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

  

  

  
    

  

  

  

  where,

  

  

  CR0          =          the Conversion Rate in effect immediately prior to the open of business on the Ex-Dividend Date of such dividend or distribution,
      or immediately prior to the open of business on the Effective Date of such share split or share combination, as applicable;

  

  

  CR1          =          the Conversion Rate in effect immediately after the open of business on such Ex-Dividend Date or Effective Date;

  

  

  OS0          =          the number of shares of Common Stock outstanding immediately prior to the open of business on such Ex-Dividend Date or Effective
      Date (before giving effect to any such dividend, distribution, share split or share combination); and

  

  

  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 14.04(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 14.04(a) is declared but not so
      paid or made, the Conversion Rate shall be immediately readjusted, effective as of the date the Board of Directors determines not to pay such dividend or distribution, to the Conversion Rate that would then be in effect if such dividend or
      distribution had not been declared.

  

  

  
    64

    
      

  

  (b)          If the Company issues to all or substantially all
      holders of the Common Stock any rights, options or warrants (other than in connection with a stockholder rights plan) entitling them, for a period of not more than 60 calendar days after the announcement date of such issuance, 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 date
      of announcement of such issuance, the Conversion Rate shall be increased based on the following formula:

   

    

  

  

  

  where,

  

  

  CR0          =          the Conversion Rate in effect immediately prior to the open of business on the Ex-Dividend Date for such issuance;

  

  

  CR1          =          the Conversion Rate in effect immediately after the open of business on such Ex-Dividend Date;

  

  

  OS0          =          the number of shares of Common Stock outstanding immediately prior to the open of business on such Ex-Dividend Date;

  

  

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

  

  

  Y          =          the number of shares of Common Stock equal to the 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 date of announcement of the issuance of such rights, options
      or warrants.

  

  

  Any increase made under this Section 14.04(b) shall be made successively whenever any such rights, options or warrants are issued and shall become
      effective immediately after the open of business on the Ex-Dividend Date for such issuance.  To the extent that shares of Common Stock are not delivered after the expiration of such rights, options or warrants, the Conversion Rate shall be decreased
      to the Conversion Rate that would then be in effect had the increase with respect to the issuance of such rights, options or warrants been made on the basis of delivery of only the number of shares of Common Stock actually delivered.  If such rights,
      options or warrants are not so issued, the Conversion Rate shall be decreased to the Conversion Rate that would then be in effect if such Ex-Dividend Date for such issuance had not occurred.

  

  

  For purposes of this Section 14.04(b) and for the purpose of Section 14.01(b)(ii)(A), in determining whether any rights, options or warrants entitle
      the holders of Common Stock to subscribe for or purchase shares of Common Stock at a price per share that is 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 date of announcement for such issuance, 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 reasonably determined by the Company in good faith.

  

  

  
    65

    
      

  

  (c)          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, distributions or
      issuances as to which an adjustment was effected pursuant to Section 14.04(a) or Section 14.04(b), (ii) dividends or distributions paid exclusively in cash described in Section 14.04(d), (iii) Article 2 distributions of Reference Property in a
      transaction described in Section 14.07(a), (iv) Article 3 Spin-Offs as to which the provisions set forth below in this Section 14.04(c) shall apply and (v) except as otherwise described below, rights issued pursuant to any stockholder rights plan of
      the Company then in effect (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, the “Distributed Property”), then the Conversion Rate shall be increased based on the following formula:

  

  

  

  

  

  where,

  

  

  CR0          =          the Conversion Rate in effect immediately prior to the open of business on the Ex-Dividend Date for such distribution;

  

  

  CR1          =          the Conversion Rate in effect immediately after the open of business on such Ex-Dividend Date;

  

  

  SP0          =          the average of the Last Reported Sale Prices of the Common Stock over the 10 consecutive Trading Day period ending on, and
      including, the Trading Day immediately preceding the Ex-Dividend Date for such distribution; and

  

  

  FMV          =          the fair market value (as determined by the Company in good faith) of the Distributed Property with respect to each outstanding share of Common Stock on the Ex-Dividend Date for such distribution.

  

  

  Any increase made under the portion of this Section 14.04(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 receive the Distributed Property, 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 Record Date for the distribution.  If the Board of Directors determines the “FMV” (as defined above) of any distribution for purposes of this Section 14.04(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 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.

  

  

  
    66

    
      

  

  With respect to an adjustment pursuant to this Section 14.04(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:

  

  

  

  

  

  where,

  

  

  CR0          =          the Conversion Rate in effect immediately prior to the end of the Valuation Period;

  

  

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

  

  

  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 set forth in Section 1.01 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.

  

  

  For purposes of the foregoing, “FMV0” will be determined by reference
      to (i) the actual trading market for the Capital Stock or similar equity interests to be distributed in the Spin-Off or (ii) for any Trading Day in the Valuation Period, as of which such Capital Stock or similar equity interest has not commenced
      trading in the actual trading market for such security, the when-issued trading market for such security, as applicable.

  

  

  The increase to the Conversion Rate under the preceding paragraph shall occur at the close of business on the last Trading Day of the Valuation
      Period; provided that (x) in respect of any conversion of Notes for which Physical Settlement is applicable, if the relevant Conversion Date occurs
      during the Valuation Period, references in the portion of this Section 14.04(c) related to Spin-Offs 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 and (y) in respect of any conversion of Notes for which Cash Settlement or Combination Settlement is applicable, for any Trading Day that falls within the relevant Observation Period
      for such conversion and within the Valuation Period, references in the portion of this Section 14.04(c) related to Spin-Offs 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 such Trading Day in determining the Conversion Rate as of such Trading Day.

  

  

  
    67

    
      

  

  If any dividend or distribution that constitutes a Spin-Off is declared, but not so made, the Conversion Rate shall be immediately decreased,
      effective as of the date that the Company’s board of directors or a duly authorized committee thereof determines not to make such dividend or distribution, to the Conversion Rate that would then be in effect if such dividend or distribution had not
      been declared.

  

  

  For purposes of this Section 14.04(c) (and subject in all respect to Section 14.11), rights, options or warrants distributed by the Company to all holders of the Common Stock entitling them to subscribe for or purchase shares of the Company’s Capital Stock, including Common Stock (either initially or under
      certain circumstances), which rights, options or warrants, until the occurrence of a specified event or events (“Trigger Event”): (i) are deemed to be
      transferred with such Common Stock; (ii) are not exercisable; and (iii) are also issued in respect of future issuances of Common Stock, shall be deemed not to have been distributed for purposes of this Section 14.04(c) (and no adjustment to the
      Conversion Rate under this Section 14.04(c) will be required) until the occurrence of the earliest Trigger Event, whereupon such rights, options or warrants shall be
      deemed to have been distributed and an appropriate adjustment (if any is required) to the Conversion Rate shall be made under this Section 14.04(c).  If any such right, option or warrant, including any such existing rights, options or warrants
      distributed prior to the date of this Indenture, are subject to events, upon the occurrence of which such rights, options or warrants become exercisable to purchase different securities, evidences of indebtedness or other assets, then the date of the
      occurrence of any and each such event shall be deemed to be the date of distribution and Ex-Dividend Date with respect to new rights, options or warrants with such rights (in which case the existing rights, options or warrants shall be deemed to
      terminate and expire on such date without exercise by any of the holders thereof).  In addition, in the event of any distribution (or deemed distribution) of rights, options or warrants, or any Trigger Event or other event (of the type described in
      the immediately preceding sentence) with respect thereto that was counted for purposes of calculating a distribution amount for which an adjustment to the Conversion Rate under this Section 14.04(c) was made, (1) in the case of any such rights,
      options or warrants that shall all have been redeemed or purchased without exercise by any holders thereof, upon such final redemption or purchase (x) the Conversion Rate shall be readjusted as if such rights, options or warrants had not been issued
      and (y) the Conversion Rate shall then again be readjusted to give effect to such distribution, deemed distribution or Trigger Event, as the case may be, as though it were a cash distribution, equal to the per share redemption or purchase price
      received by a holder or holders of Common Stock with respect to such rights, options or warrants (assuming such holder had retained such rights, options or warrants), made to all holders of Common Stock as of the date of such redemption or purchase,
      and (2) in the case of such rights, options or warrants that shall have expired or been terminated without exercise by any holders thereof, the Conversion Rate shall be readjusted as if such rights, options and warrants had not been issued.

  

  

  
    68

    
      

  

  For purposes of Section 14.04(a), Section 14.04(b) and this Section 14.04(c), if any dividend or distribution to which this Section 14.04(c) is applicable also includes one or both of:

  

  

  (A)          a dividend or distribution of shares of Common Stock to
      which Section 14.04(a) is applicable (the “Clause A Distribution”); or

  

  

  (B)          a dividend or distribution of rights, options or
      warrants to which Section 14.04(b) is applicable (the “Clause B Distribution”),

  

  

  then, in either case, (1) such dividend or distribution, other than the Clause A Distribution and the Clause B Distribution, shall be deemed to be a dividend or distribution to
      which this Section 14.04(c) is applicable (the “Clause C Distribution”)
      and any Conversion Rate adjustment required by this Section 14.04(c) with respect to such Clause C Distribution shall then be made, and (2) the Clause A Distribution and Clause B Distribution shall be deemed to immediately follow the Clause C
      Distribution and any Conversion Rate adjustment required by Section 14.04(a) and Section 14.04(b) with respect thereto shall then be made, except that, if determined by the Company (I) the “Ex-Dividend Date” of the Clause A Distribution and the
      Clause B Distribution shall be deemed to be the Ex-Dividend Date of the Clause C Distribution and (II) any shares of Common Stock included in the Clause A Distribution or Clause B Distribution shall be deemed not to be “outstanding immediately prior
      to the open of business on such Ex-Dividend Date or Effective Date” within the meaning of Section 14.04(a) or “outstanding immediately prior to the open of business on such Ex-Dividend Date” within the meaning of Section 14.04(b).

  

  

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

  

  

  

  

  

  where,

  

  

  CR0          =          the Conversion Rate in effect immediately prior to the open of business on the Ex-Dividend Date 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 the Company distributes to all or substantially all holders of the Common Stock.

  

  

  Any increase pursuant to this Section 14.04(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 it holds, at the same time and upon
      the same terms as holders of Common Stock, 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 Record Date for such cash dividend or distribution.

  

  

  
    69

    
      

  

  (e)          If the Company or any of its Subsidiaries make a payment
      in respect of a tender or exchange offer for the Common Stock (other than an odd-lot tender offer), to the extent that the cash and value of any other consideration included in the payment per share of Common Stock exceeds 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 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:

  

  

  

  

  

  where,

  

  

  CR0          =          the Conversion Rate in effect immediately prior to the close of business on the 10th Trading Day immediately following, and
      including, the Trading Day next succeeding the date such tender or exchange offer expires;

  

  

  CR1          =          the Conversion Rate in effect immediately after the close of business on the 10th Trading Day immediately following, and
      including, the Trading Day next succeeding the date such tender or exchange offer expires;

  

  

  AC          =          the aggregate value of all cash and any other consideration (as determined in good faith by the Company) 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 date such tender or exchange offer expires (prior to
      giving effect to 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 date such tender or exchange offer expires (after giving
      effect to 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 date such tender or exchange offer expires.

  

  

  The increase to the Conversion Rate under this Section 14.04(e) shall occur
      at the close of business on the 10th Trading Day immediately following, and including, the Trading Day next succeeding the date such tender or exchange offer expires; provided that (x) in respect of any conversion of Notes for which Physical Settlement is applicable, if the relevant Conversion Date occurs during the 10 Trading Days immediately following, and including, the Trading Day
      next succeeding the expiration date of any tender or exchange offer, references in this Section 14.04(e) with respect to 10 Trading Days shall be deemed replaced with such lesser number of Trading Days as have elapsed between the date that such
      tender or exchange offer expires and the Conversion Date in determining the Conversion Rate and (y) in respect of any conversion of Notes for which Cash Settlement or Combination Settlement is applicable, for any Trading Day that falls within the
      relevant Observation Period for such conversion and within the 10 Trading Days immediately following, and including, the Trading Day next succeeding the expiration date of any tender or exchange offer, references in this Section 14.04(e) with respect to 10 Trading Days shall be deemed replaced with such lesser number of Trading Days as have elapsed between the expiration date of such tender or exchange offer and
        such Trading Day in determining the Conversion Rate as of such Trading Day.

  

  

  
    70

    
      

  

  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 described in this clause (e), but the Company is, or such Subsidiary is, permanently prevented by applicable law from consummating any such purchases, or all such purchases are rescinded, then the Conversion Rate shall be readjusted to
      be the Conversion Rate that would then be in effect if such tender offer or exchange offer had not been made or had been made only in respect of the purchases that have been consummated.

  

  

  (f)          Notwithstanding this Section 14.04 or any other
      provision of this Indenture or the Notes, if a Conversion Rate adjustment becomes effective on any Ex-Dividend Date, and a Holder that has converted its Notes on or after such Ex-Dividend Date and on or prior to the related Record Date would be
      treated as the record holder of shares of Common Stock as of the related Conversion Date as described under Section 14.02(i) based on an adjusted Conversion Rate for such Ex-Dividend Date, then, notwithstanding the Conversion Rate adjustment
      provisions in this Section 14.04, the Conversion Rate adjustment relating to such Ex-Dividend Date shall not be made for such converting Holder. Instead, such Holder shall be treated as if such Holder were the record owner of shares of the Common
      Stock on an unadjusted basis and participate in the related dividend, distribution or other event giving rise to such adjustment.

  

  

  (g)          [Intentionally Omitted].

  

  

  (h)          Except as stated herein, the Company shall not adjust
      the Conversion Rate for the issuance of shares of Common Stock or any securities convertible into or exchangeable for Common Stock or the right to purchase shares of Common Stock or such convertible or exchangeable securities, nor will the Company
      adjust the Conversion Rate to account for any accrued and unpaid interest.

  

  

  (i)          In addition to those adjustments required by clauses
      (a), (b), (c), (d) and (e) of this Section 14.04, and to the extent permitted by applicable law and subject to the applicable rules of the New York Stock Exchange (or any other securities exchange where the Common Stock is listed in accordance with
      the provisions hereunder), (A) the Company is permitted to increase the Conversion Rate by any amount for a period of at least 20 Business Days if the board of directors of the Company or a committee thereof determines that such increase would be in
      the Company’s best interest and (B) the Company is also permitted to (but is not required to) increase the Conversion Rate to avoid or diminish income tax to holders of Common Stock or rights to purchase shares of Common Stock in connection with a
      dividend or distribution of shares of Common Stock (or rights to acquire shares of Common Stock) or similar event.  Whenever the Conversion Rate is increased pursuant to the preceding sentence, the Company shall deliver to the Holder of each Note a
      notice of the increase at least 15 days prior to the date the increased Conversion Rate takes effect, and such notice shall state the increased Conversion Rate and the period during which it will be in effect.

  

  

  
    71

    
      

  

  (j)          Without limiting the foregoing, the Conversion Rate
      shall not be required to be adjusted:

  

  

  (i)          [Intentionally Omitted].

  

  

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

  

  

  (iii)          upon the issuance of any shares of
      Common Stock or options or rights to purchase those shares pursuant to any present or future employee, director or consultant benefit plan or program of or assumed by the Company or any of the Company’s Subsidiaries;

  

  

  (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 (ii) of this subsection and outstanding as of the date the Notes were first issued;

  

  

  (v)          upon the repurchase of any shares of
      Common Stock pursuant to an open-market share repurchase program or other buy-back transaction that is not a tender offer or exchange offer of the nature described by clause (e) of this Section 14.04;

  

  

  (vi)          solely for a change in the par value
      of the Common Stock; or

  

  

  (vii)          for accrued and unpaid interest, if
      any.

  

  

  (k)          All calculations and other determinations under this
      Article 14 shall be made by the Company and shall be made to the nearest one-ten thousandth (1/10,000th) of a share.

  

  

  (l)          Whenever the Conversion Rate is adjusted as herein
      provided, the Company shall promptly file with the Trustee (and the Conversion Agent if not the Trustee) an Officer’s Certificate setting forth the Conversion Rate after such adjustment and setting forth a brief statement of the facts requiring such
      adjustment.  Unless and until a Responsible Officer of the Trustee shall have received such Officer’s Certificate, the Trustee shall not be deemed to have knowledge of any adjustment of the Conversion Rate and may assume without inquiry that the last
      Conversion Rate of which it has knowledge is still in effect.  Promptly after delivery of such certificate, the Company shall prepare a notice of such adjustment of the Conversion Rate setting forth the adjusted Conversion Rate and the date on which
      each adjustment becomes effective and shall deliver such notice of such adjustment of the Conversion Rate to each Holder.  Failure to deliver such notice shall not affect the legality or validity of any such adjustment.

  

  

  
    72

    
      

  

  (m)          For purposes of this Section 14.04, the number of shares
      of Common Stock at any time outstanding shall not include shares of Common Stock held in the treasury of the Company so long as the Company does not pay any dividend or make any distribution on the Common Stock held in the treasury of the Company,
      but shall include shares of Common Stock issuable in respect of scrip certificates issued in lieu of fractions of shares of Common Stock.

  

  

  Section 14.05. Adjustments

        of Prices.  Whenever any provision of this Indenture requires the Company to calculate the Last Reported Sale Prices, the Daily VWAPs, the Daily Conversion Values or the Daily Settlement Amounts over a span of multiple days (including an
      Observation Period and the period, if any, for determining the Stock Price for purposes of a Make-Whole Fundamental Change or Optional Redemption), the Company shall make appropriate adjustments to each to account for any adjustment to the Conversion
      Rate that becomes effective, or any event requiring an adjustment to the Conversion Rate where the Ex-Dividend Date, Effective Date or expiration date, as the case may be, of the event occurs, at any time during the period when the Last Reported Sale
      Prices, the Daily VWAPs, the Daily Conversion Values or the Daily Settlement Amounts are to be calculated.

  

  

  For the avoidance of doubt, the adjustments made pursuant to this Section 14.05 shall be made solely to the extent that the Company determines in its
      good faith judgment that any such adjustment is appropriate, without duplication of any adjustment made pursuant to Section 14.04.

  

  

  Section 14.06. Shares

        to Be Fully Paid.  The Company shall provide, free from preemptive rights, out of its authorized but unissued shares or shares held in treasury, sufficient shares of Common Stock to provide for conversion of the Notes from time to time as
      such Notes are presented for conversion (assuming delivery of the maximum number of Additional Shares pursuant to Section 14.03 and that at the time of computation of such number of shares, all such Notes would be converted by a single Holder and
      that Physical Settlement were applicable).

  

  

  Section 14.07. Effect

        of Recapitalizations, Reclassifications and Changes of the Common Stock.

  

  

  (a)          In the case of:

  

  

  (i)          any recapitalization,
      reclassification or change of the Common Stock (other than changes resulting from a subdivision or combination),

  

  

  (ii)          any consolidation, merger,
      combination or similar transaction involving the Company,

  

  

  (iii)          any sale, lease or other transfer
      to a third party of the consolidated assets of the Company and the Company’s Subsidiaries substantially as an entirety or

  

  

  (iv)          any statutory share exchange,

  

  

  
    73

    
      

  

  in each case, as a result of which the Common Stock would be converted into, or exchanged for, stock, other securities, other property or assets
      (including cash or any combination thereof) (any such event, a “Merger Event”), then, at and after the effective time of such Merger Event, the right
      to convert each $1,000 principal amount of Notes shall be changed into a right to convert such principal amount of Notes into the kind and amount of shares of stock, other securities or other property or assets (including cash or any combination
      thereof) that a holder of a number of shares of Common Stock equal to the Conversion Rate immediately prior to such Merger Event would have owned or been entitled to receive (the “Reference Property,” with each “unit of Reference Property” meaning the kind and amount of Reference Property
      that a holder of one share of Common Stock is entitled to receive) upon such Merger Event and, prior to or at the effective time of such Merger Event, the Company or the successor or purchasing Person, as the case may be, shall execute with the
      Trustee a supplemental indenture permitted under Section 10.01(g) providing for such change in the right to convert each $1,000 principal amount of Notes; provided,
      however, that at and after the effective time of the Merger Event (A) the Company shall continue to have the right to determine the form of
      consideration to be paid or delivered, as the case may be, upon conversion of Notes in accordance with Section 14.02 and (B) (I) any amount payable in cash upon conversion of the Notes in accordance with Section 14.02 shall continue to be payable in
      cash, (II) any shares of Common Stock that the Company would have been required to deliver upon conversion of the Notes in accordance with Section 14.02 shall instead be deliverable in the amount and type of Reference Property that a holder of that
      number of shares of Common Stock would have been entitled to receive in such Merger Event and (III) the Daily VWAP shall be calculated based on the value of a unit of Reference Property.

  

  

  If the 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 stockholder election), then (i) the Reference Property into which the Notes will be convertible shall be deemed to be the weighted average of the types and amounts of consideration actually received by the
      holders of Common Stock, and (ii) the unit of Reference Property for purposes of the immediately preceding paragraph shall refer to the consideration referred to in clause (i) attributable to one share of Common Stock.  If the holders of the Common
      Stock receive only cash in such Merger Event, then for all conversions for which the relevant Conversion Date occurs after the effective date of such Merger Event (A) 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 pursuant to Section 14.03), multiplied by the price paid per share of Common Stock in such Merger Event and (B) the Company shall satisfy the Conversion Obligation by paying cash to converting Holders on the second Business Day immediately
      following the relevant Conversion Date. The Company shall notify Holders, the Trustee and the Conversion Agent (if other than the Trustee) of such weighted average as soon as practicable after such determination is made.

  

  

  Such supplemental indenture described in the second immediately preceding paragraph shall provide for anti-dilution and other adjustments that shall
      be as nearly equivalent as is possible to the adjustments provided for in this Article 14.  If, in the case of any Merger Event, the Reference Property includes shares of stock, securities or other property or assets (including cash or any
      combination thereof) of a Person other than the Company or the successor or purchasing corporation, as the case may be, in such Merger Event, then such supplemental indenture shall also be executed by such other Person and shall contain such
      additional provisions to protect the interests of the Holders of the Notes as the Company shall reasonably consider necessary by reason of the foregoing, including the provisions providing for the purchase rights set forth in Article 15.

  

  

  
    74

    
      

  

  (b)          When the Company executes a supplemental indenture
      pursuant to subsection (a) of this Section 14.07, the Company shall promptly file with the Trustee an Officer’s Certificate briefly stating the reasons therefor, the kind or amount of cash, securities or property or asset that will comprise a unit of
      Reference Property after any such Merger Event, any adjustment to be made with respect thereto and that all conditions precedent have been complied with, and shall promptly deliver notice thereof to all Holders.  The Company shall cause notice of the
      execution of such supplemental indenture to be delivered to each Holder within 20 days after execution thereof.  Failure to deliver such notice shall not affect the legality or validity of such supplemental indenture.

  

  

  (c)          The Company shall not become a party to any Merger Event
      unless its terms are consistent with this Section 14.07.  None of the foregoing provisions shall affect the right of a holder of Notes to convert its Notes into cash, shares of Common Stock or a combination of cash and shares of Common Stock, as
      applicable, as set forth in Section 14.01 and Section 14.02 prior to the effective date of such Merger Event.

  

  

  (d)          The above provisions of this Section shall similarly
      apply to successive Merger Events.

  

  

  Section 14.08. Certain
      Covenants.  (a) The Company covenants that all shares of Common Stock issued upon conversion of Notes will be fully paid and non-assessable by the Company and free from
      all taxes, liens and charges with respect to the issue thereof.

  

  

  (b)          The Company covenants that, if any shares of Common
      Stock to be provided for the purpose of conversion of Notes hereunder require registration with or approval of any governmental authority under any federal or state law before such shares of Common Stock may be validly issued upon conversion, the
      Company will, to the extent then permitted by the rules and interpretations of the Commission, secure such registration or approval, as the case may be.

  

  

  (c)          The Company further covenants that if at any time the
      Common Stock shall be listed on any national securities exchange or automated quotation system, the Company will use reasonable best efforts to list and keep listed, so long as the Common Stock shall be so listed on such exchange or automated
      quotation system, any shares of Common Stock issuable upon conversion of the Notes.

  

  

  Section 14.09. Responsibility

        of Trustee.  The Trustee and any other Conversion Agent shall not at any time be under any duty or responsibility to any Holder to determine the Conversion Rate (or any adjustment thereto) or whether any facts exist that may require any
      adjustment (including any increase) of the Conversion Rate, or with respect to the nature or extent or calculation of any such adjustment when made, or with respect to the method employed, or herein or in any supplemental indenture provided to be
      employed, in making the same.  The Trustee and any other Conversion Agent shall not be accountable with respect to the validity or value (or the kind or amount) of any shares of Common Stock, or of any securities, property or cash that may at any
      time be issued or delivered upon the conversion of any Note; and the Trustee and any other Conversion Agent make no representations with respect thereto.  Neither the Trustee nor any Conversion Agent shall be responsible for any failure of the
      Company to issue, transfer or deliver any shares of Common Stock or stock certificates or other securities or property or cash upon the surrender of any Note for the purpose of conversion or to comply with any of the duties, responsibilities or
      covenants of the Company contained in this Article.  Without limiting the generality of the foregoing, neither the Trustee nor any Conversion Agent shall be under any responsibility to determine the correctness of any provisions contained in any
      supplemental indenture entered into pursuant to Section 14.07 relating either to the kind or amount of shares of stock or securities or property (including cash) receivable by Holders upon the conversion of their Notes after any event referred to in
      such Section 14.07 or to any adjustment to be made with respect thereto, but, subject to the provisions of Section 7.01, may accept (without any independent investigation) as conclusive evidence of the correctness of any such provisions, and shall be
      protected in relying upon, the Officer’s Certificate (which the Company shall be obligated to file with the Trustee prior to the execution of any such supplemental indenture) with respect thereto.  Neither the Trustee nor the Conversion Agent shall
      be responsible for determining whether any event contemplated by Section 14.01(b) has occurred that makes the Notes eligible for conversion or no longer eligible therefor until the Company has delivered to the Trustee and the Conversion Agent the
      notices referred to in Section 14.01(b) with respect to the commencement or termination of such conversion rights, on which notices the Trustee and the Conversion Agent may conclusively rely, and the Company agrees to deliver such notices to the
      Trustee and the Conversion Agent immediately after the occurrence of any such event or at such other times as shall be provided for in Section 14.01(b).

  

  

  
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  Section 14.10. Notice

        to Holders Prior to Certain Actions.  In case of any:

  

  

  (a)          action by the Company or one of its Subsidiaries that
      would require an adjustment in the Conversion Rate pursuant to Section 14.04 or Section 14.11;

  

  

  (b)          Merger Event; or

  

  

  (c)          voluntary or involuntary dissolution, liquidation or
      winding-up of the Company or any of its Subsidiaries;

  

  

  then, in each case (unless notice of such event is otherwise required pursuant to another provision of this Indenture), the Company shall cause to be filed with the Trustee and
      the Conversion Agent (if other than the Trustee) and to be sent to each Holder at its address appearing on the Note Register, as promptly as possible but in any event at least 20 days prior to the applicable date hereinafter specified, a notice
      stating (i) the date on which a record is to be taken for the purpose of such action by the Company or one of its Subsidiaries or, if a record is not to be taken, the date as of which the holders of Common Stock of record are to be determined for the
      purposes of such action by the Company or one of its Subsidiaries, or (ii) the date on which such Merger Event, dissolution, liquidation or winding-up is expected to become effective or occur, and the date as of which it is expected that holders of
      Common Stock of record shall be entitled to exchange their Common Stock for securities or other property deliverable upon such Merger Event, dissolution, liquidation or winding-up.  Failure to give such notice, or any defect therein, shall not affect
      the legality or validity of such action by the Company or one of its Subsidiaries, Merger Event, dissolution, liquidation or winding-up.

  

  

  
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  Section 14.11. Stockholder

        Rights Plans.  If the Company has a stockholder rights plan, including, without limitation, the Company’s Tax Benefits Preservation Plan, in effect upon conversion of the Notes, each share of Common Stock, if any, issued upon such conversion
      shall be entitled to receive the appropriate number of rights, if any, and the certificates representing shares of the Common Stock issued upon such conversion shall bear such legends, if any, in each case as may be provided by the terms of any such
      stockholder rights plan, as the same may be amended from time to time. However, if, prior to any conversion of Notes, the rights have separated from the shares of Common Stock in accordance with the provisions of the applicable stockholder rights
      plan, the Conversion Rate shall be adjusted at the time of separation as if the Company distributed to all or substantially all holders of the Common Stock Distributed Property as provided in Section 14.04(c), subject to readjustment in the event of
      the expiration, termination or redemption of such rights.

  

  

  ARTICLE 15

  Repurchase of Notes at Option of Holders

  

  

  Section 15.01. [Intentionally

        Omitted].

  

  

  Section 15.02.
                                            Repurchase at Option of Holders Upon a Fundamental Change.  (a) If a Fundamental Change occurs at any time prior to the Maturity Date, each Holder shall have the right, at such Holder’s option, to require the Company to repurchase for cash
      all of such Holder’s Notes, or any portion of the principal amount thereof that is equal to $1,000 or an integral multiple of $1,000, on the date (the “Fundamental

        Change Repurchase Date”) specified by the Company that is not less than 20 calendar days or more than 35 calendar days following the date of the Fundamental Change Company Notice at a repurchase price equal to 100% of the aggregate principal
      amount thereof, plus accrued and unpaid interest thereon, if any, to, but excluding, the Fundamental Change Repurchase Date (the “Fundamental Change Repurchase Price”), unless the Fundamental Change Repurchase Date falls after a Regular Record Date but on or prior to the Interest
      Payment Date to which such Regular Record Date relates, in which case the Company shall instead pay the full amount of accrued and unpaid interest to Holders of record as of the close of business on such Regular Record Date, and the Fundamental
      Change Repurchase Price shall be equal to 100% of the aggregate principal amount of Notes to be repurchased pursuant to this Article 15.  The Fundamental Change Repurchase Date shall be subject to postponement, without penalty to the Company, in
      order to allow the Company to comply with applicable law as a result of any changes to such applicable law occurring after the date hereof.

  

  

  (b)          Repurchases of Notes under this Section 15.02 shall be
      made, at the option of the Holder thereof, upon:

  

  

  (i)          delivery to the Paying Agent by a
      Holder of a duly completed notice (the “Fundamental Change Repurchase Notice”) in the form set forth in Attachment 2 to the Form of Note attached
      hereto as Exhibit A, if the Notes are Physical Notes, or in compliance with the Depositary’s procedures for surrendering interests in Global Notes, if the Notes are Global Notes, in each case on or before the close of business on the Business Day
      immediately preceding the Fundamental Change Repurchase Date; and

  

  

  (ii)          delivery of the Notes, if the Notes
      are Physical Notes, to the Paying Agent at any time after delivery of the Fundamental Change Repurchase Notice (together with all necessary endorsements for transfer) at the Corporate Trust Office of the Paying Agent or book-entry transfer of the
      Notes, if the Notes are Global Notes, in compliance with the procedures of the Depositary, in each case such delivery being a condition to receipt by the Holder of the Fundamental Change Repurchase Price therefor.

  

  

  
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  The Fundamental Change Repurchase Notice in respect of any Notes to be repurchased shall state:

  

  

  (i)          in the case of Physical Notes, the certificate numbers
      of the Notes to be delivered for repurchase;

  

  

  (ii)          the portion of the principal amount of Notes to be
      repurchased, which must be $1,000 or an integral multiple thereof; and

  

  

  (iii)          that the Notes are to be repurchased by the Company
      pursuant to the applicable provisions of the Notes and this Indenture;

  

  

  provided, however, that if the Notes are Global Notes, the Fundamental Change Repurchase Notice must comply with appropriate Depositary procedures.

  

  

  Notwithstanding anything herein to the contrary, any Holder delivering to the Paying Agent the Fundamental Change Repurchase Notice contemplated by
      this Section 15.02 shall have the right to withdraw, in whole or in part, such Fundamental Change Repurchase Notice at any time prior to the close of business on the Business Day immediately preceding the Fundamental Change Repurchase Date by
      delivery of a written notice of withdrawal to the Paying Agent in accordance with Section 15.03.

  

  

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

  

  

  (c)          On or before the 10th calendar day after the occurrence
      of the effective date of a Fundamental Change, the Company shall provide to all Holders of Notes and the Trustee, the Conversion Agent (in the case of a Conversion Agent other than the Trustee) and the Paying Agent (in the case of a Paying Agent
      other than the Trustee) a notice (the “Fundamental Change Company Notice”) of the occurrence of the effective date of the Fundamental Change and of the
      repurchase right at the option of the Holders arising as a result thereof.  In the case of Physical Notes, such notice shall be by first class mail or, in the case of Global Notes, such notice shall be delivered in accordance with the applicable
      procedures of the Depositary.  Each Fundamental Change Company Notice shall specify:

  

  

  (i)          the events causing the Fundamental
      Change;

  

  

  (ii)          the Effective Date of the
      Fundamental Change;

  

  

  
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  (iii)          the last date on which a Holder may
      exercise the repurchase right pursuant to this Article 15;

  

  

  (iv)          the Fundamental Change Repurchase
      Price;

  

  

  (v)          the Fundamental Change Repurchase
      Date;

  

  

  (vi)          the name and address of the Paying
      Agent and the Conversion Agent, if applicable;

  

  

  (vii)          if applicable, the Conversion Rate
      and any adjustments to the Conversion Rate;

  

  

  (viii)          that the Notes with respect to
      which a Fundamental Change Repurchase Notice has been delivered by a Holder may be converted only if the Holder validly withdraws the Fundamental Change Repurchase Notice in accordance with the terms of this Indenture; and

  

  

  (ix)          the procedures that Holders must
      follow to require the Company to repurchase their Notes;

  

  

  provided, however, that, if the Notes are Global
      Notes, the Holders (and holders of a beneficial interest in such Global Notes) must comply with the applicable procedures of the Depositary.

  

  

  No failure of the Company to give the foregoing notices and no defect therein shall limit the Holders’ repurchase rights or affect the validity of
      the proceedings for the repurchase of the Notes pursuant to this Section 15.02.

  

  

  At the Company’s request, the Paying Agent shall give such notice in the Company’s name and at the Company’s expense; provided, however, that, in all cases, the text of such Fundamental Change
      Company Notice shall be prepared by the Company.

  

  

  (d)          Notwithstanding anything to the contrary herein, the
      Company shall not be required to purchase, or to make an offer to purchase, the Notes upon a Fundamental Change if a third party makes such an offer in the same manner, at the same time and otherwise in compliance with the requirements for an offer
      made by the Company as set forth above (including, without limitation, the requirement to comply with applicable securities laws), and such third party purchases all Notes properly surrendered and not validly withdrawn under its offer in the same
      manner, at the same time and otherwise in compliance with the requirements for an offer made by the Company as set forth above (including the requirement to pay the Fundamental Change Repurchase Price on the later of the Fundamental Change Repurchase
      Date and the time of book-entry transfer or delivery of the relevant Notes); provided that the Company will continue to be obligated to (x) deliver
      the applicable Fundamental Change Company Notice to the Holders (which Fundamental Change Company Notice will state that such third party will make such an offer to purchase the Notes) and to simultaneously with such Fundamental Change Company Notice
      publish a notice containing such information on the Company’s website or through such other public medium as the Company may use at that time, (y) comply with applicable securities laws as set forth herein in connection with any such purchase and (z)
      pay the applicable Fundamental Change Repurchase Price on the later of the applicable Fundamental Change Repurchase Date and the time of book-entry transfer or delivery of the relevant Notes in the event such third party fails to make such payment in
      such amount at such time.

  

  

  
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  (e)          [Intentionally Omitted].

  

  

  (f)          Notwithstanding the foregoing, no Notes may be
      repurchased by the Company on any date at the option of the Holders upon a Fundamental Change if the principal amount of the Notes has been accelerated, and such acceleration has not been rescinded, on or prior to such date (except in the case of an
      acceleration resulting from a Default by the Company in the payment of the Fundamental Change Repurchase Price with respect to such Notes). The Paying Agent will promptly return to the respective Holders thereof any Physical Notes held by it during
      the acceleration of the Notes (except in the case of an acceleration resulting from a Default by the Company in the payment of the Fundamental Change Repurchase Price with respect to such Notes), or any instructions for book-entry transfer of the
      Notes in compliance with the procedures of the Depositary shall be deemed to have been cancelled, and, upon such return or cancellation, as the case may be, the Fundamental Change Repurchase Notice with respect thereto shall be deemed to have been
      withdrawn.

  

  

  Section 15.03.
                                            Withdrawal of Fundamental Change Repurchase Notice.  (a) A Fundamental Change Repurchase Notice may be withdrawn (in whole or in part) by means of a written notice of withdrawal delivered to the Corporate Trust Office of the Paying
      Agent in accordance with this Section 15.03 at any time prior to the close of business on the Business Day immediately preceding the Fundamental Change Repurchase Date, specifying:

  

  

  (i)          the principal amount of the Notes
      with respect to which such notice of withdrawal is being submitted (which must be an integral multiple of $1,000),

  

  

  (ii)          if Physical Notes have been issued,
      the certificate number of the Note in respect of which such notice of withdrawal is being submitted (which must be an integral multiple of $1,000), and

  

  

  (iii)          the principal amount, if any, of
      such Note that remains subject to the original Fundamental Change Repurchase Notice, which portion must be in principal amounts of $1,000 or an integral multiple of $1,000;

  

  

  provided, however, that if the Notes are Global Notes, the notice must comply with appropriate procedures of the Depositary.

  

  

  Section 15.04.
                                            Deposit of Fundamental Change Repurchase Price.  (a) The Company will deposit with the Trustee (or other Paying Agent appointed by the Company, or if the Company is acting as its own Paying Agent, set aside, segregate and hold in
      trust as provided in Section 4.04) on or prior to 11:00 a.m., New York City time, on the Fundamental Change Repurchase Date an amount of money sufficient to repurchase all of the Notes to be repurchased at the appropriate Fundamental Change
      Repurchase Price.  Subject to receipt of funds and/or Notes by the Trustee (or other Paying Agent appointed by the Company), payment for Notes surrendered for repurchase (and not withdrawn prior to the close of business on the Business Day
      immediately preceding the Fundamental Change Repurchase Date) will be made on the later of (i) the Fundamental Change Repurchase Date (provided the
      Holder has satisfied the conditions in Section 15.02) and (ii) the time of book-entry transfer or the delivery of such Note to the Trustee (or other Paying Agent appointed by the Company) by the Holder thereof in the manner required by Section 15.02 by mailing checks for the amount payable to the Holders of such Notes entitled thereto as they shall appear in the Note Register; provided, however, that payments to the Depositary shall be made by wire transfer of
      immediately available funds to the account of the Depositary or its nominee.  The Trustee shall, promptly after such payment and upon written demand by the Company, return to the Company any funds in excess of the Fundamental Change Repurchase Price.

  

  

  
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  (b)          If by 11:00 a.m. New York City time, on the Fundamental
      Change Repurchase Date, the Trustee (or other Paying Agent appointed by the Company) holds money sufficient to make payment on all the Notes or portions thereof that are to be repurchased on such Fundamental Change Repurchase Date, then, with respect
      to the Notes that have been properly surrendered for repurchase and have not been validly withdrawn, (i) such Notes will cease to be outstanding, (ii) interest will cease to accrue on such Notes (whether or not book-entry transfer of the Notes has
      been made or the Notes have been delivered to the Trustee or the Paying Agent) and (iii) all other rights of the Holders of such Notes will terminate (other than the right to receive the Fundamental Change Repurchase Price).

  

  

  (c)          Upon surrender of a Physical Note that is to be
      repurchased in part pursuant to Section 15.02, the Company shall execute and the Trustee shall authenticate and deliver to the Holder a new Physical Note in an authorized denomination equal in principal amount to the unrepurchased portion of the
      Physical Note surrendered.

  

  

  Section 15.05. Covenant

        to Comply with Applicable Laws Upon Repurchase of Notes.  In connection with any repurchase offer, the Company will, if required:

  

  

  (a)          comply with the provisions of Rule 13e-4, Rule 14e-1 and
      any other tender offer rules under the Exchange Act;

  

  

  (b)          file a Schedule TO or any other required schedule under
      the Exchange Act; and

  

  

  (c)          otherwise comply with all federal and state securities
      laws in connection with any offer by the Company to repurchase the Notes;

  

  

  in each case, so as to permit the rights and obligations under this Article 15 to be exercised in the time and in the manner specified in this
      Article 15.

  

  

  ARTICLE 16

  optional Redemption

  

  

  Section 16.01. Optional

        Redemption.  No sinking fund is provided for the Notes.  The Notes shall not be redeemable by the Company prior to June 5, 2022.  On or after June 5, 2022, the Company has the right, at its election (an “Optional Redemption”), to redeem all, or any portion having a principal amount equal to an integral multiple of $1,000, of the Notes, on a Redemption Date on or after June 5, 2022
      and prior to the 55th Scheduled Trading Day immediately preceding the Maturity Date if the Last Reported Sale Price of the Common Stock has been at least 130% of the
      Conversion Price then in effect on (i) each of at least 20 Trading Days (whether or not consecutive) during the 30 consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the date on which the Company provides
      the Notice of Redemption in accordance with Section 16.02 and (ii) the Trading Day immediately preceding the date the Company sends the Notice of Redemption.

  

  

  
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  Section 16.02. Notice

      of Optional Redemption; Selection of Notes.  (a) In case the Company exercises its Optional Redemption right to redeem all or, as the case may be, any part of the Notes
      pursuant to Section 16.01, it shall fix a date for redemption (each, a “Redemption Date”) and it shall deliver or cause to be delivered a written
      notice of such Optional Redemption (a “Notice of Redemption”) not less than 60 nor more than 80 Scheduled Trading Days prior to the Redemption Date to
      the Trustee, the Paying Agent (if other than the Trustee) and each Holder of Notes.  The Redemption Date must be a Business Day.  The Company shall not specify a Redemption Date that falls on or after the 55th Scheduled Trading Day immediately
      preceding the Maturity Date. Each Notice of Redemption shall identify the provision of this Indenture permitting Optional Redemption and shall specify:

  

  

  (i)          the Redemption Date;

  

  

  (ii)          the Redemption Price;

  

  

  (iii)          that on the Redemption Date, the
      Redemption Price will become due and payable upon each Note to be redeemed, and that interest thereon, if any, shall cease to accrue on and after the Redemption Date unless the Company defaults in the payment of the Redemption Price;

  

  

  (iv)          the place or places where such Notes
      subject to Optional Redemption are to be surrendered for payment of the Redemption Price;

  

  

  (v)          that Holders may surrender Notes for
      conversion at any time prior to the close of business on the Business Day immediately preceding the Redemption Date (unless the Company fails to pay the Redemption Price, in which case a Holder of Notes may convert such Notes until the Business Day
      immediately preceding the date on which the Redemption Price has been paid or duly provided for);

  

  

  (vi)          the procedures a converting Holder
      must follow to convert its Notes subject to Optional Redemption and the Settlement Method and Specified Cash Amount, if applicable;

  

  

  (vii)          the Conversion Rate and, if
      applicable, the number of Additional Shares added to the Conversion Rate in accordance with Section 14.03; and

  

  

  (viii)          the CUSIP, ISIN or other similar
      numbers, if any, assigned to such Notes subject to Optional Redemption and that no representation is made as to the correctness or accuracy of the CUSIP or ISIN number listed in such notice or printed on the Notes; and

  

  

  (ix)          in case any Note is to be redeemed
      in part only, the portion of the principal amount thereof to be redeemed, and that upon surrender of such Note, a new Note in principal amount equal to the unredeemed portion thereof shall be issued.

  

  

  
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  A Notice of Redemption shall be irrevocable. At the Company’s prior written request, the Trustee shall give the Notice of Redemption in the Company’s
      name and at its expense; provided, however, that
      the Company shall have delivered to the Trustee not later than the close of business five Business Days prior to the date the Notice of Redemption is to be sent (unless a shorter period shall be satisfactory to the Trustee), an Officer’s Certificate
      and a Company Order requesting that the Trustee give such Notice of Redemption together with the Notice of Redemption to be given setting forth the information to be stated therein as provided in the preceding paragraph. The Notice of Redemption, if
      given in the manner herein provided, shall be conclusively presumed to have been duly given, whether or not the Holder receives such notice.  In any case, failure to give such Notice of Redemption or any defect in the Notice of Redemption to the
      Holder of any Note designated for Optional Redemption as a whole or in part shall not affect the validity of the proceedings for the Optional Redemption of any other Note.

  

  

  (b)          If the Company elects to redeem fewer than all of the
      outstanding Notes, the Notes to be redeemed will be selected according to the Depositary’s applicable procedures, in the case of Notes represented by a Global Note, or, in the case of Physical Notes, the Trustee shall select, pro rata or by lot in
      such manner as it shall deem appropriate and fair. If the Trustee selects a portion of a Holder’s Notes for redemption and such Holder converts a portion of such Notes, the converted portion will be deemed to be from the portion selected for
      redemption. In the event of any redemption in part, the Company will not be required to register the transfer of or exchange any Note so selected for redemption, in whole or in part, except the unredeemed portion of any such Note being redeemed in
      part.

  

  

  Section 16.03. Payment

      of Notes Called for Redemption.  (a) If any Notice of Redemption has been given in respect of the Notes in accordance with Section 16.02, the Notes shall become due and
      payable on the Redemption Date at the place or places stated in the Notice of Redemption and at the applicable Redemption Price.  On presentation and surrender of the Notes at the place or places stated in the Notice of Redemption, the Notes shall be
      paid and redeemed by the Company at the applicable Redemption Price.

  

  

  (b)          Prior to 11:00 a.m., New York City time, on the
      Redemption Date, the Company shall deposit with the Paying Agent or, if the Company or a Subsidiary of the Company is acting as the Paying Agent, shall segregate and hold in trust as provided in Section 7.05 an amount of cash (in immediately
      available funds if deposited on the Redemption Date), sufficient to pay the Redemption Price of all of the Notes to be redeemed on such Redemption Date. Subject to receipt of funds by the Paying Agent, payment for the Notes to be redeemed shall be
      made on the Redemption Date for such Notes.  The Paying Agent shall, promptly after such payment and upon written demand by the Company, return to the Company any funds in excess of the Redemption Price.

  

  

  (c)          If the Paying Agent holds money sufficient to pay the
      Redemption Price of the Notes to be redeemed on the Redemption Date, then, with respect to the Notes to be redeemed on such Redemption Date (which, for the avoidance of doubt, shall not include Notes converted by Holders thereof after delivery of the
      Notice of Redemption and prior to the Business Day immediately preceding Redemption Date), such Notes will cease to be outstanding and interest will cease to accrue (whether or not book-entry transfer of the Notes is made or whether or not the Notes
      are delivered to the Paying Agent), and all other rights with respect to such Notes of the Holder thereof will terminate (other than the right to receive the Redemption Price).

  

  

  
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  Section 16.04. Restrictions

        on Redemption.  The Company may not redeem any Notes on any date if the principal amount of the Notes has been accelerated in accordance with the terms of this Indenture, and such acceleration has not been rescinded on or prior to the
      Redemption Date (except in the case of an acceleration resulting from a Default by the Company in the payment of the Redemption Price with respect to such Notes).

  

  

  ARTICLE 17

  Miscellaneous Provisions

  

  

  Section 17.01. Provisions

        Binding on Company’s Successors.  All the covenants, stipulations, promises and agreements of the Company contained in this Indenture shall bind its successors and assigns whether so expressed or not.

  

  

  Section 17.02. Official

        Acts by Successor Corporation.  Any act or proceeding by any provision of this Indenture authorized or required to be done or performed by any board, committee or Officer of the Company shall and may be done and performed with like force and
      effect by the like board, committee or officer of any corporation or other entity that shall at the time be the lawful sole successor of the Company.

  

  

  Section 17.03. Addresses

        for Notices, Etc.  Any notice or demand that by any provision of this Indenture is required or permitted to be given or served by the Trustee or by the Holders on the Company shall be deemed to have been sufficiently given or made, for all
      purposes if given or served by being deposited postage prepaid by registered or certified mail in a post office letter box addressed (until another address is filed by the Company with the Trustee) to 23 Main Street, Holmdel, New Jersey, Attention:
      Randy K. Rutherford.  Any notice, direction, request hereunder to the Trustee shall be deemed to have been sufficiently given or made, for all purposes, if given or served by being deposited postage prepaid by registered or certified mail in a post
      office letter box addressed to the Corporate Trust Office or sent electronically in PDF format.

  

  

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

  

  

  Any notice or communication delivered or to be delivered to a Holder of Physical Notes shall be mailed to it by first class mail, postage prepaid, at
      its address as it appears on the Note Register and shall be sufficiently given to it if so mailed within the time prescribed. Any notice or communication delivered or to be delivered to a Holder of Global Notes shall be delivered in accordance with
      the applicable procedures of the Depositary and shall be sufficiently given to it if so delivered within the time prescribed.

  

  

  
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  Failure to mail or deliver 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 sent in the manner provided above, it is duly given, whether or not the addressee receives it.

  

  

  In case by reason of the suspension of regular mail service or by reason of any other cause it shall be impracticable to give such notice to Holders
      by mail, then such notification as shall be made with the approval of the Trustee shall constitute a sufficient notification for every purpose hereunder.

  

  

  Section 17.04. Governing

        Law; Jurisdiction.  THIS INDENTURE AND EACH NOTE, AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO THIS INDENTURE AND EACH NOTE, SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK
      (WITHOUT REGARD TO THE CONFLICTS OF LAWS PROVISIONS THEREOF).

  

  

  The Company irrevocably consents and agrees, for the benefit of the Holders from time to time of the Notes and the Trustee, that any legal action,
      suit or proceeding against it with respect to obligations, liabilities or any other matter arising out of or in connection with this Indenture or the Notes may be brought in the courts of the State of New York or the courts of the United States
      located in the Borough of Manhattan, New York City, New York and, until amounts due and to become due in respect of the Notes have been paid, hereby irrevocably consents and submits to the non-exclusive jurisdiction of each such court in personam, generally and unconditionally with respect to any action, suit or proceeding for itself in respect of its properties, assets and revenues.

  

  

  The Company irrevocably and unconditionally waives, to the fullest extent permitted by law, any objection which it may now or hereafter have to the
      laying of venue of any of the aforesaid actions, suits or proceedings arising out of or in connection with this Indenture brought in the courts of the State of New York or the courts of the United States located in the Borough of Manhattan, New York
      City, New York and hereby further irrevocably and unconditionally waives and agrees not to plead or claim in any such court that any such action, suit or proceeding brought in any such court has been brought in an inconvenient forum.

  

  

  Section 17.05. Evidence

        of Compliance with Conditions Precedent; Certificates and Opinions of Counsel to Trustee.  Upon any application or demand by the Company to the Trustee to take any action under any of the provisions of this Indenture, the Trustee shall be
      entitled to receive (a) an Officer’s Certificate stating that, in the opinion of the signers, all conditions precedent (including any covenants, compliance with which constitutes a condition precedent), if any, provided for in the Indenture relating
      to the proposed action have been complied with and that such action is permitted by the terms of this Indenture; and (b) an Opinion of Counsel in form reasonably satisfactory to the Trustee stating that, in the opinion of such counsel, all such
      conditions precedent (including any covenants, compliance with which constitutes a condition precedent) have been complied with and that such action is permitted by the terms of this Indenture. With respect to matters of fact, an Opinion of Counsel
      may rely on an Officer’s Certificate or certificates of public officials.

  

  

  
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  Each Officer’s Certificate provided for, by or on behalf of the Company in this Indenture and delivered to the Trustee with respect to compliance
      with this Indenture (other than the Officer’s Certificates provided for in Section 4.08) shall include (a) a statement that the person signing such certificate is familiar with the requested action and this Indenture; (b) a brief statement as to the
      nature and scope of the examination or investigation upon which the statement contained in such certificate is based; (c) a statement that, in the judgment of such person, he or she has made such examination or investigation as is necessary to enable
      him or her to express an informed judgment as to whether or not such action is permitted by this Indenture and as to whether all conditions precedent (including covenants, compliance with which constitutes a condition precedent), if any, provided for
      in this Indenture relating to the proposed action have been complied with; and (d) a statement as to whether or not, in the judgment of such person, such action is permitted by this Indenture and all such conditions precedent (including any
      covenants, compliance with which constitutes a condition precedent) have been complied with.

  

  

  Section 17.06. Legal

        Holidays.  In any case where any Interest Payment Date, Fundamental Change Repurchase Date, Maturity Date or Redemption Date is not a Business Day (which, solely for the purposes of any payment required to be made on any such Interest
      Payment Date, Fundamental Change Repurchase Date, Conversion Date or Maturity Date and solely for purposes of this Section, shall also not include days in which the office where the place of payment in the continental United States is authorized or
      required by law to close), then any action to be taken on such date need not be taken on such date, but may be taken on the next succeeding Business Day with the same force and effect as if made on such scheduled Interest Payment Date, Maturity Date,
      Redemption Date or Fundamental Change Repurchase Date, and no interest shall accrue in respect of the delay.

  

  

  Section 17.07. No

        Security Interest Created.  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 17.08. Benefits

        of Indenture.  Nothing in this Indenture or in the Notes, expressed or implied, shall give to any Person, other than the Holders, the parties hereto, any Paying Agent, any Conversion Agent, any authenticating agent, any Note Registrar, and
      Custodian and their successors hereunder, any benefit or any legal or equitable right, remedy or claim under this Indenture.

  

  

  Section 17.09. Table

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

  

  

  Section 17.10. Authenticating

        Agent.  The Trustee may appoint an authenticating agent that shall be authorized to act on its behalf and subject to its direction in the authentication and delivery of Notes in connection with the original issuance thereof and transfers and
      exchanges of Notes hereunder, including under Section 2.04, Section 2.05, Section 2.06, Section 2.07, Section 10.04 and Section 15.04 as fully to all intents and purposes as though the authenticating agent had been expressly authorized by this
      Indenture and those Sections to authenticate and deliver Notes.  For all purposes of this Indenture, the authentication and delivery of Notes by the authenticating agent shall be deemed to be authentication and delivery of such Notes “by the Trustee”
      and a certificate of authentication executed on behalf of the Trustee by an authenticating agent shall be deemed to satisfy any requirement hereunder or in the Notes for the Trustee’s certificate of authentication.  Such authenticating agent shall at
      all times be a Person eligible to serve as trustee hereunder pursuant to Section 7.08.

  

  

  
    86

    
      

  

  Any corporation or other entity into which any authenticating agent may be merged or converted or with which it may be consolidated, or any
      corporation or other entity resulting from any merger, consolidation or conversion to which any authenticating agent shall be a party, or any corporation or other entity succeeding to all or substantially all of the corporate trust business of any
      authenticating agent, shall be the successor of the authenticating agent hereunder, if such successor corporation or other entity is otherwise eligible under this Section 17.10, without the execution or filing of any paper or any further act on the
      part of the parties hereto or the authenticating agent or such successor corporation or other entity.

  

  

  Any authenticating agent may at any time resign by giving written notice of resignation to the Trustee and to the Company.  The Trustee may at any
      time terminate the agency of any authenticating agent by giving written notice of termination to such authenticating agent and to the Company.  Upon receiving such a notice of resignation or upon such a termination, or in case at any time any
      authenticating agent shall cease to be eligible under this Section, the Trustee may appoint a successor authenticating agent (which may be the Trustee), shall give written notice of such appointment to the Company and shall deliver notice of such
      appointment to all Holders as the names and addresses of such Holders appear on the Note Register.

  

  

  The Company agrees to pay to the authenticating agent from time to time reasonable compensation for its services although the Company may terminate
      the authenticating agent, if it determines such agent’s fees to be unreasonable.

  

  

  The provisions of Section 7.02, Section 7.03, Section 7.04, Section 8.03 and this Section 17.10 shall be applicable to any authenticating agent.

  

  

  If an authenticating agent is appointed pursuant to this Section 17.10, the Notes may have endorsed thereon, in addition to the Trustee’s certificate
      of authentication, an alternative certificate of authentication in the following form:

  

  

  __________________________,

  as Authenticating Agent, certifies that this is one of the Notes described

  in the within-named Indenture.

  

  

  By: ____________________

  Authorized Officer

  

  

  Section 17.11. Execution

        in Counterparts.  This Indenture may be executed in any number of counterparts, each of which shall be an original, but such counterparts shall together constitute but one and the same instrument.  The exchange of copies of this Indenture
      and of signature pages by facsimile or PDF transmission shall constitute effective execution and delivery of this Indenture as to the parties hereto and may be used in lieu of the original Indenture for all purposes.  Signatures of the parties hereto
      transmitted by facsimile or PDF shall be deemed to be their original signatures for all purposes.

  

  

  
    87

    
      

  

  Section 17.12. Severability. 

      In the event any provision of this Indenture or in the Notes shall be invalid, illegal or unenforceable, then (to the extent permitted by law) the validity, legality or enforceability of the remaining provisions shall not in any way be affected or
      impaired.

  

  

  Section 17.13. Waiver

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

  

  

  Section 17.14. Force

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

  

  

  Section 17.15. Calculations. 

      Except as otherwise provided herein, the Company shall 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, Additional Interest and the Conversion Rate of the Notes.  The Company shall make all these calculations in good faith and, absent
      manifest error, the Company’s calculations shall be final and binding on Holders of Notes.  The Company shall provide a schedule of its calculations to each of the Trustee and the Conversion Agent, and each of the Trustee and Conversion Agent is
      entitled to rely conclusively upon the accuracy of the Company’s calculations without independent verification.  The Trustee will forward the Company’s calculations to any Holder of Notes upon the written request of that Holder at the sole cost and
      expense of the Company.

  

  

  Section 17.16. USA

        PATRIOT Act.  The parties hereto acknowledge that in accordance with Section 326 of the USA PATRIOT Act, the Trustee, like all financial institutions and in order to help fight the funding of terrorism and money laundering, is required to
      obtain, verify, and record information that identifies each person or legal entity that establishes a relationship or opens an account with the Trustee.  The parties to this Indenture agree that they will provide the Trustee with such information as
      it may request in order for the Trustee to satisfy the requirements of the USA PATRIOT Act.

  

  

  [Remainder of page intentionally left blank]

  

  

  
    88

    
      

  

  IN WITNESS WHEREOF, the parties hereto have caused this Indenture to be duly executed as of the date first written above.

  

  

  
    	 	
            VONAGE HOLDINGS CORP.

          
	 	
            By:

          	
            /s/ David T. Pearson

          
	 	
            Name:

          	
            David T. Pearson

          
	 	
            Title:

          	
            Chief Executive Officer

          

    

    

    	 	
            WILMINGTON TRUST, NATIONAL ASSOCIATION, as Trustee

          
	 	
            By:

          	
            /s/ Hallie E. Field

          
	 	
            Name:

          	
            Hallie E. Field

          
	 	
            Title:

          	
            Vice President

          

  

  

  

  [Signature Page to Indenture]

  

  
    
      

  

  
  EXHIBIT A

  

  

  [FORM OF FACE OF NOTE]

  

  

  [INCLUDE FOLLOWING LEGEND IF A GLOBAL NOTE]

  

  

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

  

  

  [NO AFFILIATE (AS DEFINED IN RULE 144 UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”)) OF VONAGE HOLDINGS CORP. (THE “COMPANY”)
      OR PERSON THAT HAS BEEN AN AFFILIATE (AS DEFINED IN RULE 144 UNDER THE SECURITIES ACT) OF THE COMPANY DURING THE IMMEDIATELY PRECEDING THREE MONTHS MAY PURCHASE, OTHERWISE ACQUIRE OR HOLD THIS SECURITY OR A BENEFICIAL INTEREST HEREIN.]

  

  

  [INCLUDE FOLLOWING LEGEND IF A RESTRICTED SECURITY]

  

  

  [THIS SECURITY AND THE SHARES OF COMMON STOCK, IF ANY, ISSUABLE UPON CONVERSION OF THIS SECURITY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
      1933, AS AMENDED (THE “SECURITIES ACT”), AND MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT IN ACCORDANCE WITH THE FOLLOWING SENTENCE. BY ITS ACQUISITION HEREOF OR OF A BENEFICIAL INTEREST HEREIN, THE ACQUIRER:

  

  

  (1) REPRESENTS THAT IT AND ANY ACCOUNT FOR WHICH IT IS ACTING IS A “QUALIFIED INSTITUTIONAL BUYER” (WITHIN THE MEANING OF RULE
      144A UNDER THE SECURITIES ACT) AND THAT IT EXERCISES SOLE INVESTMENT DISCRETION WITH RESPECT TO EACH SUCH ACCOUNT, AND

  

  

  (2) AGREES FOR THE BENEFIT OF VONAGE HOLDINGS CORP. (THE “COMPANY”) THAT IT WILL NOT OFFER, SELL, PLEDGE OR OTHERWISE TRANSFER
      THIS SECURITY OR ANY BENEFICIAL INTEREST HEREIN PRIOR TO THE DATE THAT IS THE LATER OF (X) ONE YEAR AFTER THE LAST ORIGINAL ISSUE DATE HEREOF OR SUCH SHORTER PERIOD OF TIME AS PERMITTED BY RULE 144 UNDER THE SECURITIES ACT OR ANY SUCCESSOR PROVISION
      THERETO AND (Y) SUCH LATER DATE, IF ANY, AS MAY BE REQUIRED BY APPLICABLE LAW, EXCEPT:

  

  

  (A) TO THE COMPANY OR ANY SUBSIDIARY THEREOF, OR

  

  

  
    A-1

    
      

  

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

  

  

  (C) TO A QUALIFIED INSTITUTIONAL BUYER IN COMPLIANCE WITH RULE 144A UNDER THE SECURITIES ACT, OR

  

  

  (D) PURSUANT TO AN EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE SECURITIES ACT OR ANY OTHER AVAILABLE EXEMPTION FROM
      THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.

  

  

  PRIOR TO THE REGISTRATION OF ANY TRANSFER IN ACCORDANCE WITH CLAUSE (2)(D) ABOVE, THE COMPANY AND THE TRUSTEE RESERVE THE RIGHT TO REQUIRE THE
      DELIVERY OF SUCH LEGAL OPINIONS, CERTIFICATIONS OR OTHER EVIDENCE AS MAY REASONABLY BE REQUIRED IN ORDER TO DETERMINE THAT THE PROPOSED TRANSFER IS BEING MADE IN COMPLIANCE WITH THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS. NO
      REPRESENTATION IS MADE AS TO THE AVAILABILITY OF ANY EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.]1

  

  

  __________________

  

   1 This legend (other than the first paragraph hereof) shall be deemed removed from the face of this Security without further action of the Company, the Trustee, or
    the Holders at such time as the Company instructs the Trustee to remove such legend purusant to Section 2.05(c) of the Indenture.

  

  
    A-2

    
      

  

  Vonage Holdings Corp.

  

  

  1.75% Convertible Senior Note due 2024

  

  

  
    	
            No. [_____]

          	
            [Initially]2 US $[_________]

          

    

  

  CUSIP No. [_________]3

  

  

  Vonage Holdings Corp., a corporation duly organized and validly existing under the laws of the State of Delaware (the “Company,” which term includes any successor corporation or other entity under the Indenture referred to on the reverse hereof), for value received hereby promises to pay to [CEDE
      & CO.]4 [_______]5, or registered assigns, the principal sum [as set forth in the
      “Schedule of Exchanges of Notes” attached hereto]6 [of $[_______]]7, which amount, taken
      together with the principal amounts of all other outstanding Notes, shall not, unless permitted by the Indenture, exceed $300,000,000 (as increased by an amount equal to the aggregate principal amount of any additional Notes purchased by the Initial
      Purchasers pursuant to the exercise of their option to purchase additional Notes as set forth in the Purchase Agreement) in aggregate at any time[, in accordance with the rules and procedures of the Depositary,]8 on June 1, 2024, and interest thereon as set forth below.

  

  

  This Note shall bear interest at the rate of 1.75% per year from June 14, 2019, or from the most recent date to which interest had been paid or
      provided for to, but excluding, the next scheduled Interest Payment Date until June 1, 2024.  Interest is payable semi-annually in arrears on each June 1 and December 1, commencing on December 1, 2019, to Holders of record at the close of business on
      the preceding May 15 and November 15 (whether or not such day is a Business Day), respectively.  Additional Interest will be payable as set forth in Section 4.06(d), Section 4.06(e) and Section 6.03 of the within-mentioned Indenture, and any
      reference to interest on, or in respect of, any Note therein shall be deemed to include Additional Interest if, in such context, Additional Interest is, was or would be payable pursuant to any of such Section 4.06(d), Section 4.06(e) or Section 6.03,
      and any express mention of the payment of Additional Interest in any provision therein shall not be construed as excluding Additional Interest in those provisions thereof where such express mention is not made.

  

  

  

  

  
    __________________

    2 Include if a global note.

    3 At such time as the Company notifies the Trustee to remove the legend (other than the first
        paragraph thereof) pursuant to Section 2.05(c) of the Indenture, the CUSIP number for this Security shall be deemed to be CUSIP No. [__________].  Additional Notes issued pursuant to Section 2.10 of the Indenture may have different CUSIP numbers.

    4 Include if a global note.

    5 Include if a physical note.

    6 Include if a global note.

    7 Include if a physical note.

    8 Include if a global note.

  

  

  

  
    A-3

    
      

  

  Any Defaulted Amounts shall accrue interest per annum at the rate borne by the Notes, subject to the enforceability thereof under applicable law,
      from, and including, the relevant payment date to, but excluding, the date on which such Defaulted Amounts shall have been paid by the Company, at its election, in accordance with Section 2.03(c) of the Indenture.

  

  

  The Company shall pay or cause the Paying Agent to pay the principal of and interest on this Note, if and so long as such Note is a Global Note, in
      immediately available funds to the Depositary or its nominee, as the case may be, as the registered Holder of such Note.  As provided in and subject to the provisions of the Indenture, the Company shall pay or cause the Paying Agent to pay the
      principal of any Notes (other than Notes that are Global Notes) at the office or agency designated by the Company for that purpose.  The Company has initially designated the Trustee as its Paying Agent and Note Registrar in respect of the Notes and
      the Corporate Trust Office, as a place where Notes may be presented for payment or for registration of transfer and exchange.

  

  

  Reference is made to the further provisions of this Note set forth on the reverse hereof, including, without limitation, provisions giving the Holder
      of this Note the right to convert this Note into cash, shares of Common Stock or a combination of cash and shares of Common Stock, as applicable, on the terms and subject to the limitations set forth in the Indenture.  Such further provisions shall
      for all purposes have the same effect as though fully set forth at this place.

  

  

  This Note, and any claim, controversy or dispute arising under or related to this Note, shall be construed in accordance with and
      governed by the laws of the State of New York (without regard to the conflicts of laws provisions thereof).

  

  

  In the case of any conflict between this Note and the Indenture, the provisions of the Indenture shall control and govern.

  

  

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

  

  

  [Remainder of page intentionally left blank]

  

  

  
    A-4

    
      

  

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

  

  

  
    	 	
            VONAGE HOLDINGS CORP.

          
	 	
            By:

          	 
	 	
            Name:

          
	 	
            Title:

          

  

  

  Dated:

  

  

  TRUSTEE’S CERTIFICATE OF AUTHENTICATION

  

  

  WILMINGTON TRUST, NATIONAL ASSOCIATION

  as Trustee, certifies that this is one of the Notes described

  in the within-named Indenture.

  

  

  By:_______________________________

       Authorized Signatory

  

  

  
    A-5

    
      

  

  [FORM OF REVERSE OF NOTE]

  

  

  Vonage Holdings Corp.

  1.75% Convertible Senior Note due 2024

  

  

  This Note is one of a duly authorized issue of Notes of the Company, designated as its 1.75% Convertible Senior Notes due 2024 (the “Notes”), limited to the aggregate principal amount of $300,000,000  all
      issued or to be issued under and pursuant to an Indenture dated as of June 14, 2019 (the “Indenture”), between the Company and Wilmington Trust,
      National Association (the “Trustee”), to which Indenture and all indentures supplemental thereto reference is hereby made for a description of the
      rights, limitations of rights, obligations, duties and immunities thereunder of the Trustee, the Company and the Holders of the Notes.  Additional Notes may be issued in an unlimited aggregate principal amount, subject to certain conditions specified
      in the Indenture.  Capitalized terms used in this Note and not defined in this Note shall have the respective meanings set forth in the Indenture.

  

  

  In case certain Events of Default shall have occurred and be continuing, the principal of, and interest on, all Notes may be declared, by either the
      Trustee or Holders of at least 25% in aggregate principal amount of Notes then outstanding, and upon said declaration shall become, due and payable, in the manner, with the effect and subject to the conditions and certain exceptions set forth in the
      Indenture.

  

  

  Subject to the terms and conditions of the Indenture, the Company will make all payments and deliveries in respect of the Fundamental Change
      Repurchase Price on the Fundamental Change Repurchase Date (if applicable), the Redemption Price on any Redemption Date (if applicable) and the principal amount on the Maturity Date, as the case may be, to the Holder who surrenders a Note to a Paying
      Agent to collect such payments in respect of the Note.  The Company will pay cash amounts in money of the United States that at the time of payment is legal tender for payment of public and private debts.

  

  

  The Indenture contains provisions permitting the Company and the Trustee in certain circumstances, without the consent of the Holders of the Notes,
      and in certain other circumstances, with the consent of the Holders of not less than a majority in aggregate principal amount of the Notes at the time outstanding, evidenced as in the Indenture provided, to execute supplemental indentures modifying
      the terms of the Indenture and the Notes as described therein.  It is also provided in the Indenture that, subject to certain exceptions, the Holders of a majority in aggregate principal amount of the Notes at the time outstanding may on behalf of
      the Holders of all of the Notes waive any past Default or Event of Default under the Indenture and its consequences.

  

  

  No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Company, which is
      absolute and unconditional, to pay or deliver, as the case may be, the principal (including the Redemption Price and the Fundamental Change Repurchase Price, if applicable) of, accrued and unpaid interest on, and the consideration due upon conversion
      of, this Note at the place, at the respective times, at the rate and in the lawful money and/or shares of Common Stock, as the case may be, herein prescribed.

  

  

  
    A-6

    
      

  

  The Notes are issuable in registered form without coupons in minimum denominations of $1,000 principal amount and integral multiples thereof.  At the
      office or agency of the Company referred to on the face hereof, and in the manner and subject to the limitations provided in the Indenture, Notes may be exchanged for a like aggregate principal amount of Notes of other authorized denominations,
      without payment of any service charge but, if required by the Company or Trustee, with payment of a sum sufficient to cover any transfer or similar tax that may be imposed in connection therewith as a result of the name of the Holder of the new Notes
      issued upon such exchange of Notes being different from the name of the Holder of the old Notes surrendered for such exchange.

  

  

  The Notes are not subject to redemption prior to June 5, 2022. The Notes shall be redeemable at the Company’s option in certain circumstances on or
      after June 5, 2022 in accordance with the terms and subject to the conditions specified in the Indenture.  No sinking fund is provided for the Notes.

  

  

  Upon the occurrence of a Fundamental Change, the Holder has the right, at such Holder’s option and subject to the limitations set forth in the
      Indenture, to require the Company to repurchase for cash all of such Holder’s Notes or any portion thereof (in principal amounts of $1,000 or integral multiples thereof) on the Fundamental Change Repurchase Date at a price equal to the Fundamental
      Change Repurchase Price.

  

  

  Subject to the provisions of the Indenture, the Holder hereof has the right, at its option, during certain periods and upon the occurrence of certain
      conditions specified in the Indenture, prior to the close of business on the second Scheduled Trading Day immediately preceding the Maturity Date, to convert any Notes or portion thereof that is $1,000 or an integral multiple thereof, into cash,
      shares of Common Stock or a combination of cash and shares of Common Stock, as applicable and subject to the limitations set forth in the Indenture, in each case at the Conversion Rate specified in the Indenture, as adjusted from time to time as
      provided in the Indenture.

  

  

  
    A-7

    
      

  

  ABBREVIATIONS

  

  

  The following abbreviations, when used in the inscription of the face of this Note, shall be construed as though they were written out in full
      according to applicable laws or regulations:

  

  

  TEN COM = as tenants in common

  

  

  UNIF GIFT MIN ACT = Uniform Gifts to Minors Act

  

  

  CUST = Custodian

  

  

  TEN ENT = as tenants by the entireties

  

  

  JT TEN  = joint tenants with right of survivorship and not as tenants in common

  

  

  Additional abbreviations may also be used though not in the above list.

  

  

  
    A-8

    
      

  

  SCHEDULE A9

  

  

  SCHEDULE OF EXCHANGES OF NOTES

  

  

  Vonage Holdings Corp.

  1.75% Convertible Senior Notes due 2024

  

  

  The initial principal amount of this Global Note is _______ DOLLARS ($[_________]).  The following increases or decreases in this Global Note have
      been made:

   

    

  
    
      	
              Date of exchange

            	 	
              Amount of decrease in principal amount of this Global Note

            	 	
              Amount of increase in principal amount of this Global Note

            	 	
              Principal amount of this Global Note following such decrease or increase

            	 	
              Signature of authorized signatory of Trustee or Custodian

            
	
               

            	 	
               

            	 	
               

            	 	
               

            	 	
               

            
	
               

            	 	
               

            	 	
               

            	 	
               

            	 	
               

            
	
               

            	 	
               

            	 	
               

            	 	
               

            	 	
               

            
	
               

            	 	
               

            	 	
               

            	 	
               

            	 	
               

            
	
               

            	 	
               

            	 	
               

            	 	
               

            	 	
               

            
	
               

            	 	
               

            	 	
               

            	 	
               

            	 	
               

            
	
               

            	 	
               

            	 	
               

            	 	
               

            	 	
               

            
	
               

            	 	
               

            	 	
               

            	 	
               

            	 	
               

            
	
               

            	 	
               

            	 	
               

            	 	
               

            	 	
               

            
	
               

            	 	
               

            	 	
               

            	 	
               

            	 	
               

            
	
               

            	 	
               

            	 	
               

            	 	
               

            	 	
               

            
	
               

            	 	
               

            	 	
               

            	 	
               

            	 	
               

            
	
               

            	 	
               

            	 	
               

            	 	
               

            	 	
               

            
	
               

            	 	
               

            	 	
               

            	 	
               

            	 	
               

            
	
               

            	 	
               

            	 	
               

            	 	
               

            	 	
               

            
	
               

            	 	
               

            	 	
               

            	 	
               

            	 	
               

            
	
               

            	 	
               

            	 	
               

            	 	
               

            	 	
               

            
	
               

            	 	
               

            	 	
               

            	 	
               

            	 	
               

            
	
               

            	 	
               

            	 	
               

            	 	
               

            	 	
               

            
	
               

            	 	
               

            	 	
               

            	 	
               

            	 	
               

            
	
               

            	 	
               

            	 	
               

            	 	
               

            	 	
               

            
	
               

            	 	
               

            	 	
               

            	 	
               

            	 	
               

            

    

    

    

    9 Include if a global note.

  

  
    A-9

    
      

  

  ATTACHMENT 1

  

  

  [FORM OF NOTICE OF CONVERSION]

  

  

  

  	
          To:

        	
          Wilmington Trust, National Association

        
	 	
          Global Capital Markets

        
	 	
          50 South Sixth Street, Suite 1290

        
	 	
          Minneapolis, MN  55402

        
	 	
          Attention: Vonage Notes Administrator

        

  

  

  The undersigned registered owner of this Note hereby exercises the option to convert this Note, or the portion hereof (that is $1,000 principal
      amount or an integral multiple thereof) below designated, into cash, shares of Common Stock or a combination of cash and shares of Common Stock, as applicable, in accordance with the terms of the Indenture referred to in this Note, and directs that
      any cash payable and any shares of Common Stock issuable and deliverable upon such conversion, together with any cash in lieu of any fractional share, and any Notes representing any unconverted principal amount hereof, be issued and delivered to the
      registered Holder hereof unless a different name has been indicated below.  If any shares of Common Stock or any portion of this Note not converted are to be issued in the name of a Person other than the undersigned, the undersigned will pay all
      documentary, stamp or similar issue or transfer taxes, if any in accordance with Section 14.02(d) and Section 14.02(e) of the Indenture.  Any amount required to be paid to the undersigned on account of interest accompanies this Note.  Capitalized
      terms used herein but not defined shall have the meanings ascribed to such terms in the Indenture.

  

  

  Dated:          _____________________          ________________________________

  

  

  ________________________________

  

  

  Signature(s)

  

  

  ___________________________

  

  

  Signature Guarantee

  

  

  Signature(s) must be guaranteed

  by an eligible Guarantor Institution

  (banks, stock brokers, savings and

  loan associations and credit unions)

  with membership in an approved

  signature guarantee medallion program

  pursuant to Securities and Exchange

  Commission Rule 17Ad-15 if shares

  of Common Stock are to be issued, or

  Notes are to be delivered, other than

  to and in the name of the registered holder.

  

  

  Fill in for registration of shares if

  to be issued, and Notes if to

  be delivered, other than to and in the

  name of the registered holder:

   

    

  _________________________

  

  

  (Name)

  

  

  _________________________

  

  

  (Street Address)

  

  

  _________________________

  

  

  (City, State and Zip Code)

  Please print name and address

  

  

  Principal amount to be converted (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.

  ________________________

  

  

  Social Security or Other Taxpayer

  Identification Number

  

  

  
    A-10

    
      

  

  ATTACHMENT 2

  

  

  [FORM OF FUNDAMENTAL CHANGE REPURCHASE NOTICE]

  

  

  

  	
          To:

        	
          Wilmington Trust, National Association

        
	 	
          Global Capital Markets

        
	 	
          50 South Sixth Street, Suite 1290

        
	 	
          Minneapolis, MN  55402

        
	 	
          Attention: Vonage Notes Administrator

        

  

  

  

  

  The undersigned registered owner of this Note hereby acknowledges receipt of a notice from Vonage Holdings Corp. (the “Company”) as to the occurrence of a Fundamental Change with respect to the Company and specifying the Fundamental Change Repurchase Date and requests and instructs the Company to
      pay to the registered holder hereof in accordance with Section 15.02 of the Indenture referred to in this Note (1) the entire principal amount of this Note, or the portion thereof (that is $1,000 principal amount or an integral multiple thereof)
      below designated, and (2) if such Fundamental Change Repurchase Date does not fall during the period after a Regular Record Date and on or prior to the open of business on the corresponding Interest Payment Date, accrued and unpaid interest, if any,
      thereon to, but excluding, such Fundamental Change Repurchase Date.  Capitalized terms used herein but not defined shall have the meanings ascribed to such terms in the Indenture.

  

  

  In the case of Physical Notes, the certificate numbers of the Notes to be repurchased are as set forth below:

  

  

  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.

  

  

  
    A-11

    
      

  

  ATTACHMENT 3

  

  

  [FORM OF ASSIGNMENT AND TRANSFER]

  

  

  For value received ____________________________ hereby sell(s), assign(s) and transfer(s) unto _________________ (Please insert social security or Taxpayer Identification
      Number of assignee) the within Note, and hereby irrevocably constitutes and appoints _____________________ attorney to transfer the said Note on the books of the Company, with full power of substitution in the premises.

  

  

  In connection with any transfer of the within Note occurring prior to the Resale Restriction Termination Date, as defined in the Indenture governing such Note, the undersigned
      confirms that such Note is being transferred:

  

  

  □          To Vonage Holdings Corp. or a subsidiary thereof; or

  

  

  □          Pursuant to a registration statement that has become or been declared effective under
      the Securities Act of 1933, as amended; or

  

  

  □          Pursuant to and in compliance with Rule 144A under the Securities Act of 1933, as
      amended; or

  

  

  □          Pursuant to and in compliance with Rule 144 under the Securities Act of 1933, as
      amended, or any other available exemption from the registration requirements of the Securities Act of 1933, as amended.

  

  

  Dated: ________________________

  

  

  _____________________________________

  

  

  _____________________________________

  Signature(s)

  

  

  _____________________________________

  Signature Guarantee

  

  

  Signature(s) must be guaranteed by an

  eligible Guarantor Institution (banks, stock

  brokers, savings and loan associations and

  credit unions) with membership in an approved

  signature guarantee medallion program pursuant

  to Securities and Exchange Commission

  Rule 17Ad-15 if Notes are to be delivered, other

  than to and in the name of the registered holder.

  

  

  NOTICE:  The signature on the assignment must correspond with the name as written upon the face of the Note in every particular without alteration or enlargement or any change
      whatever.

  
    A-12

    
      

  

  
  EXHIBIT B

  

  

  [COMPANY LETTERHEAD]

  

  

  1.75% Convertible Senior Notes due 2024

  

  

  Free Transferability Certificate

  

  

  [__], 20[__]

  

  

  	
          To:

        	
          Wilmington Trust, National Association

        
	 	
          Global Capital Markets

        
	 	
          50 South Sixth Street, Suite 1290

        
	 	
          Minneapolis, MN  55402

        
	 	
          Attention: Vonage Notes Administrator

        

  

  

  
    
      	

            	Re:	
              Vonage Holdings Corp., 1.75% Convertible Senior Notes due 2024

            

    

  

  

  

  Dear Sir/Madam:

  

  

  Whereas the 1.75% Convertible Senior Notes due 2024 (the “Securities”) have become freely tradable without restrictions by non-affiliates of Vonage
      Holdings Corp. (the “Company”) pursuant to Rule 144(b)(1) under the Securities Act of 1933, as amended, in accordance with Section 2.05(c) of the indenture (the “Indenture”) dated as of June 14, 2019 between the Company and Wilmington Trust, National
      Association (the “Trustee”), pursuant to which the Securities were issued, the Company hereby provides notice pursuant to Section 2.05(c) of the Indenture of the occurrence of the Resale Restriction Termination Date and instructs you that:

  

  

  
    
      	

            	(i)	
              the restrictive legends described in Section 2.05(c) of the Indenture and set forth on the Securities and shares of Common Stock issued upon conversion of the
                  Securities shall be deemed removed from the Global Notes (as defined in the Indenture), in accordance with the terms and conditions of the Securities and as provided in the Indenture, without further action on the part of holders or the
                  Trustee;

            

    

  

  

  

  
    
      	

            	(ii)	
              the restricted CUSIP number for the Securities (92886T AH5) shall be deemed removed from the Global Notes and replaced with the unrestricted CUSIP number set forth
                  therein (92886T AJ1), in accordance with the terms and conditions of the Securities and as provided in the Indenture, without further action on the part of holders or the Trustee; and

            

    

  

  

  

  
    
      
        	

              	(iii)	to effect the Mandatory Exchange (as defined below) by accepting the Shipment Control List (“SCL”) add to balance in
                  respect of the unrestricted CUSIP and accepting the respective SCL draw down in respect of the restricted CUSIP, when so delivered by the Depositary.

      

    

    

    

  

  
    B-1

    
      

  

  Pursuant to Section 17.05 of the Indenture, the undersigned officer of the Company does hereby certify on behalf of the Company
      as follows in connection with the Resale Restriction Termination Date and the mandatory exchange of the Global Note with the Depositary to cause such Global Note to be identified by such unrestricted CUSIP number in the facilities of the Depositary
      (the “Mandatory Exchange”):

  

  

  
    
      	

            	1.	
              The undersigned is familiar with the requested actions and the Indenture, including Section 2.05 of the Indenture.

            

    

  

  

  

  
    
      	

            	2.	
              The statements of the undersigned contained herein are based upon the undersigned’s review of the Indenture.

            

    

  

  

  

  
    
      	

            	3.	
              The undersigned, in the undersigned’s judgement, has made such examination or investigation as is necessary to enable the undersigned to express an informed
                  judgment as to whether or not the Mandatory Exchange is permitted by the Indenture and all conditions precedent thereto have been complied with.

            

    

  

  

  

  
    
      	

            	4.	
              In the undersigned’s judgment, all conditions precedent to the Mandatory Exchange have been complied with and the Mandatory Exchange is permitted by the Indenture.

            

    

  

  

  

  Capitalized terms used but not defined herein shall have the meanings set forth in the Indenture.

  

  	 	
          Very truly yours,

        
	 	 	 
	 	
          VONAGE HOLDINGS CORP.

        
	 	 	 
	 	
          By:

        	 
	 	
          Name:

        	 
	 	
          Title:

        	 

  

  

  B-2

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