Document:

Registration Rights Agreement, dated May 4, 2007

 Exhibit 10.2 
 EXECUTION COPY 
  

 REGISTRATION RIGHTS AGREEMENT 
 Dated as of May 4, 2007 
 by and among 
 UNITED REFINING COMPANY

 THE SUBSIDIARY GUARANTORS NAMED HEREIN 
 and 
 MORGAN STANLEY & CO. INCORPORATED, 
 as the Initial Purchaser 
  

  

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 This Registration Rights Agreement (the
“Agreement”) is made and entered into as of May 4, 2007 by and among UNITED REFINING COMPANY, a Pennsylvania corporation (the “Company”), the SUBSIDIARY GUARANTORS (as defined herein) and MORGAN
STANLEY & CO. INCORPORATED as the initial purchaser (the “Initial Purchaser”). The execution and delivery of this Agreement is a condition to the obligations of the Initial Purchaser to purchase $125,000,000 of the
Company’s 10 1/2% Senior Notes due 2012 under the Purchase Agreement, dated as of May 1, 2007 (the
“Purchase Agreement”), by and among the Company, the Subsidiary Guarantors and the Initial Purchaser. 
 The Company,
the Subsidiary Guarantors and the Initial Purchaser hereby agree as follows: 
 DEFINITIONS 
 As used in this Agreement, the following capitalized terms shall have the following meanings: 
 Act: The Securities Act of 1933, as amended, and the rules and regulations promulgated by the Commission pursuant thereto. 
 Action: As defined in Section 8(c) of this Agreement. 
 Broker-Dealer: Any broker or dealer registered under the Exchange Act. 
 Closing Date: The
date that the Old Notes are purchased by the Initial Purchaser pursuant to the Purchase Agreement. 
 Commission: The Securities and
Exchange Commission. 
 Consummate: A Registered Exchange Offer shall be deemed “Consummated” for purposes of this Agreement
upon the occurrence of (i) the filing and effectiveness under the Act of the Exchange Offer Registration Statement relating to the New Notes to be issued in the Exchange Offer, (ii) the maintenance of such Registration Statement
continuously effective and the keeping of the Exchange Offer open for a period not less than the minimum period required pursuant to Section 3(b) of this Agreement and (iii) the delivery by the Company to the Registrar under the Indenture
of New Notes in the same aggregate principal amount as the aggregate principal amount of Old Notes that were so tendered. 
 Damages
Payment Date: With respect to the Transfer Restricted Securities, each Interest Payment Date. 
 Effectiveness Target Date: As
defined in Section 5 of this Agreement. 
 Exchange Act: The Securities Exchange Act of 1934, as amended, and the rules and
regulations promulgated by the Commission pursuant thereto. 
  

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 Exchange Offer: The registration under the Act by the Company and the Subsidiary Guarantors of the
New Notes pursuant to a Registration Statement pursuant to which the Company and the Subsidiary Guarantors offer the Holders of all outstanding Transfer Restricted Securities the opportunity to exchange all such outstanding Old Notes that are
Transfer Restricted Securities held by such Holders for New Notes in an aggregate principal amount equal to the aggregate principal amount of the Old Notes that are Transfer Restricted Securities tendered in such exchange offer by such Holders.

 Exchange Offer Registration Statement: The Registration Statement relating to the Exchange Offer, including the related Prospectus.

 Exempt Resales: The transactions in which the Initial Purchaser proposes to sell the Notes to (i) certain “qualified
institutional buyers,” as such term is defined in Rule 144A under the Act, (ii) to a limited number of certain institutional “accredited investors,” as such term is defined in Rule 501(a)(1), (2), (3) and
(7) of Regulation D under the Act and (iii) other eligible purchasers pursuant to Regulation S under the Act. 
 Holders: As defined in Section 2(b) of this Agreement. 
 Indenture: The Indenture, dated as of August 6,
2004, by and among the Company, the Subsidiary Guarantors and The Bank of New York, as trustee (the “Trustee”), pursuant to which the Notes are to be issued, as such Indenture is amended or supplemented from time to time in
accordance with its terms. 
 Initial Purchaser: Morgan Stanley & Co. Incorporated 
 Interest Payment Date: As defined in the Notes. 
 NASD: National Association of Securities Dealers, Inc. 
 New Notes: The Company’s 10 1/2% Senior Notes due 2012 to be issued
pursuant to the Indenture in connection with the Exchange Offer and evidencing the same debt as the Old Notes, including the guarantees by the Subsidiary Guarantors. 
 Notes: Old Notes and New Notes. 
 Old Notes: The Company’s 10 1/2% Senior Notes due 2012 to be issued pursuant to the Indenture on the Closing Date, including the guarantees by the Subsidiary Guarantors.

 Person: An individual, partnership, corporation, trust or unincorporated organization, or a government or agency or
political subdivision thereof. 
 Prospectus: The prospectus included in a Registration Statement, as amended or supplemented by any
prospectus supplement and by all other amendments and supplements thereto, including post-effective amendments, and all material incorporated by reference or deemed to be incorporated by reference, if any, in such Prospectus. 
  

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 Registration Default: As defined in Section 5 of this Agreement. 
 Registration Statement: Any registration statement of the Company and the Subsidiary Guarantors relating to (a) an offering of New Notes
pursuant to an Exchange Offer or (b) the registration for resale of Transfer Restricted Securities pursuant to the Shelf Registration Statement that is filed pursuant to the provisions of this Agreement, in each case, including the Prospectus
included therein, all amendments and supplements thereto (including pre- and post-effective amendments) and all exhibits and material incorporated by reference or deemed to be incorporated by reference, if any, therein. 
 Shelf Filing Deadline: As defined in Section 4(a) of this Agreement. 
 Shelf Registration Statement: As defined in Section 4(a) of this Agreement. 
 Subsidiary: With respect to any Person, any other Person of which a majority of the equity ownership or the voting securities is at the time
owned, directly or indirectly, by such Person or by one or more other subsidiaries of such Person or a combination thereof. 
 Subsidiary
Guarantors: Each Subsidiary of the Company that, pursuant to the Indenture, is, or is required to become, a guarantor of the obligations of the Company under the Notes and the Indenture. 
 TIA: The Trust Indenture Act of 1939, as amended (15 U.S.C. Section 77aaa-77bbbb), as in effect on the date of the Indenture. 
 Transfer Restricted Securities: Each Note until the earliest to occur of (i) with respect to an Old Note, the date on which each such Old
Note has been exchanged by a person other than a Broker-Dealer for a New Note in the Exchange Offer, (ii) following the exchange by a Broker-Dealer in the Exchange Offer of an Old Note for a New Note, the date on which such New Note is sold to
a purchaser who receives from such Broker-Dealer on or prior to the date of such sale a copy of the prospectus contained in the Exchange Offer Registration Statement, (iii) the date on which such New Note has been effectively registered under
the Act and disposed of in accordance with the Shelf Registration Statement or (iv) the date on which such New Note is distributed to the public pursuant to Rule 144 under the Act. 
 Underwritten Registration or Underwritten Offering: A registration in which securities of the Company are sold to an underwriter for reoffering to
the public pursuant to an effective Registration Statement. 
 SECURITIES SUBJECT TO THIS AGREEMENT 
 Transfer Restricted Securities. The securities entitled to the benefits of this Agreement are the Transfer Restricted Securities. 
 Holders of Transfer Restricted Securities. A Person is deemed to be a holder of Transfer Restricted Securities (each, a “Holder”)
whenever such Person beneficially owns Transfer Restricted Securities. 
  

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 REGISTERED EXCHANGE OFFER 
 Unless, due to a change in law or Commission policy after the date hereof, the Exchange Offer shall not be permissible under applicable federal law or Commission policy, the Company and the Subsidiary Guarantors shall
(i) cause to be filed with the Commission as soon as practicable on or prior to 135 days after the Closing Date, a Registration Statement under the Act relating to the New Notes and the Exchange Offer and (ii) use their best efforts to
cause such Registration Statement to be declared effective by the Commission as soon as practicable on or prior to 225 days after the Closing Date. In connection with the foregoing, the Company and the Subsidiary Guarantors shall (A) file all
pre-effective amendments to such Registration Statement as may be necessary to cause such Registration Statement to become effective, (B) if applicable, file a post-effective amendment to such Registration Statement pursuant to Rule 430A under
the Act, (C) cause all necessary filings in connection with the registration and qualification of the New Notes to be made under the Blue Sky laws of such jurisdictions as are necessary to permit Consummation of the Exchange Offer (provided,
however, that the Company and the Subsidiary Guarantors shall not be obligated to qualify as foreign corporations in any jurisdiction in which they are not so qualified or to take any action that would subject them to general service of process or
taxation in any jurisdiction where they are not so subject) and (D) upon the effectiveness of such Registration Statement, commence the Exchange Offer and use their best efforts to issue on or prior to 45 days after the date on which such
Registration Statement is declared effective by the Commission, New Notes in exchange for all Old Notes tendered in the Exchange Offer. The Exchange Offer shall be on the appropriate form permitting registration of the New Notes to be offered in
exchange for the Transfer Restricted Securities and to permit resales of New Notes held by Broker-Dealers as contemplated by Section 3(c) below. If, after such Exchange Offer Registration Statement initially is declared effective by the
Commission, the Exchange Offer or the issuance of New Notes under the Exchange Offer or the resale of New Notes received by Broker-Dealers in the Exchange Offer as contemplated by Section 3(c) below is interfered with by any stop order,
injunction or other order or requirement of the Commission or any other governmental agency or court, such Registration Statement shall be deemed not to have become effective for purposes of this Agreement during the period that such stop order,
injunction or other similar order or requirement shall remain in effect. 
 The Company shall cause the Exchange Offer Registration Statement
to be effective continuously and shall keep the Exchange Offer open for a period of not less than the minimum period required under applicable federal and state securities laws to Consummate the Exchange Offer; provided, however, that
in no event shall such period be less than 20 business days nor longer than 90 days. The Company and the Subsidiary Guarantors shall cause the Exchange Offer to comply with all applicable federal and state securities laws. The Company and the
Subsidiary Guarantors shall only offer to exchange New Notes for Old Notes in the Exchange Offer, and only the New Notes shall be registered under the Exchange Offer Registration Statement. The Company and the Subsidiary Guarantors shall use its
best efforts to cause the Exchange Offer to be Consummated on the earliest practicable date after the Exchange Offer Registration Statement has become effective, but in no event later than 45 business days after such effective date. 
  

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 The Company shall indicate in a “Plan of Distribution” section contained in the Prospectus
included in the Exchange Offer Registration Statement that any Broker-Dealer that holds Old Notes that are Transfer Restricted Securities and that were acquired for its own account as a result of market-making activities or other trading activities
(other than Transfer Restricted Securities acquired directly from the Company), may exchange such Old Notes pursuant to the Exchange Offer; provided, however, that such Broker-Dealer may be deemed to be an “underwriter”
within the meaning of the Act and must, therefore, deliver a prospectus meeting the requirements of the Act in connection with any resales of the New Notes received by such Broker-Dealer in the Exchange Offer. Such “Plan of Distribution”
section shall allow the use of the Prospectus by all Persons subject to the prospectus delivery requirements of the Act, including Participating Broker-Dealers, and shall also contain all other information with respect to such resales by
Broker-Dealers that the Commission may require to permit such resales pursuant thereto, but such “Plan of Distribution” shall not name any such Broker-Dealer or disclose the amount of Old Notes held by any such Broker-Dealer except to the
extent required by the Commission as a result of a change in policy after the date of this Agreement. 
 The Company and the Subsidiary
Guarantors shall use their best efforts to keep the Exchange Offer Registration Statement continuously effective, supplemented and amended as required by the provisions of Section 6(c) below to the extent necessary to ensure that it is
available for resales of New Notes acquired by Broker-Dealers for their own accounts as a result of market-making activities or other trading activities, and to ensure that it conforms with the requirements of this Agreement, the Act and the
policies, rules and regulations of the Commission as announced from time to time. The Company shall provide sufficient copies of the latest version of such Prospectus to Broker-Dealers promptly upon request at any time during such period in order to
facilitate such resales. 
 The Company and the Subsidiary Guarantors shall not consummate the Exchange Offer later than 270 days following
the Closing Date. 
 SHELF REGISTRATION 
 Shelf Registration. If (i) the Company and the Subsidiary Guarantors are not required to file an Exchange Offer Registration Statement or to consummate the Exchange Offer because the Exchange Offer is not permitted by applicable
law or Commission policy or (ii) any Holder of Transfer Restricted Securities shall notify the Company within 20 business days of the Consummation of the Exchange Offer that such Holder (A) is prohibited by applicable law or Commission
policy from participating in the Exchange Offer, or (B) may not resell the New Notes acquired by it in the Exchange Offer to the public without delivering a prospectus and the Prospectus contained in the Exchange Offer Registration Statement is
not appropriate or available for such resales by such Holder or (C) is a Broker-Dealer and holds Old Notes (including the Initial Purchaser who holds Old Notes as part of an unsold allotment from the original offering of the Old Notes) acquired
directly from the Company or one of its affiliates or (iii) the Company and the Subsidiary Guarantors do not consummate the Exchange Offer within 45 days following the effectiveness date of the Exchange Offer Registration Statement, then the
Company and the Subsidiary Guarantors shall (x) cause to be filed a shelf registration statement pursuant to Rule 415 under the Act, which may be an amendment to the Exchange Offer 

  

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Registration Statement (in either event, the “Shelf Registration Statement”), on or prior to the earliest to occur of (1) the 135th day
after the date on which the Company determines that it is not required to file the Exchange Offer Registration Statement or (2) the 135th day after the date on which the Company receives notice from a Holder of Transfer Restricted Securities as
contemplated by clause (ii) above (such earliest date being the “Shelf Filing Deadline”), which Shelf Registration Statement shall provide for resales of all Transfer Restricted Securities the Holders of which shall have
provided the information required pursuant to Section 4(b) of this Agreement, and (y) use its best efforts to cause such Shelf Registration Statement to be declared effective by the Commission on or before the 225th day after the Shelf
Filing Deadline. The Company and the Subsidiary Guarantors shall use their best efforts to keep such Shelf Registration Statement continuously effective, supplemented and amended as required by the provisions of Sections 6(b) and (c) of this
Agreement to the extent necessary to ensure that it is available for resales of New Notes by the Holders of Transfer Restricted Securities entitled to the benefit of this Section 4(a) and to ensure that it conforms with the requirements of this
Agreement, the Act and the policies, rules and regulations of the Commission as announced from time to time, for a continuous period of two years following the date on which such Shelf Registration Statement becomes effective under the Act or such
shorter period that will terminate when all the New Notes covered by the Shelf Registration Statement have been sold pursuant to such Shelf Registration Statement. 
 Provision by Holders of Certain Information in Connection with the Shelf Registration Statement. No Holder of Transfer Restricted Securities may include any of its Transfer Restricted Securities in any Shelf
Registration Statement pursuant to this Agreement unless and until such Holder furnishes to the Company in writing, within 20 business days after receipt of a request therefor, such information regarding such Holder as the Company may reasonably
request for use in connection with any Shelf Registration Statement or Prospectus or preliminary Prospectus included in such Shelf Registration Statement. Each Holder as to which any Shelf Registration Statement is being effected agrees to furnish
promptly to the Company all information required to be disclosed to make the information previously furnished to the Company by such Holder not materially misleading. 
 LIQUIDATED DAMAGES 
 If (i) any of the Registration Statements required by this Agreement is not filed
with the Commission on or prior to the date specified for such filing in this Agreement, (ii) any of such Registration Statements has not been declared effective by the Commission on or prior to the date specified for such effectiveness in this
Agreement (the “Effectiveness Target Date”), (iii) the Exchange Offer has not been Consummated within 45 business days after the Effectiveness Target Date with respect to the Exchange Offer Registration Statement or
(iv) any Registration Statement required by this Agreement is filed and declared effective but shall thereafter cease to be effective or usable in connection with resales of Transfer Restricted Securities during the periods required by this
Agreement (each such event referred to in clauses (i) through (iv), a “Registration Default”), the Company hereby agrees to pay liquidated damages to each Holder of Transfer Restricted Securities with respect to the first
90-day period immediately following the occurrence of such Registration Default, in an amount equal to $.05 per week per $1,000 principal amount of Notes constituting Transfer Restricted Securities held 

  

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by such Holder for each week or portion thereof that the Registration Default continues. The amount of the liquidated damages shall increase by an additional
$.05 per week per $1,000 in principal amount of Notes constituting Transfer Restricted Securities with respect to each subsequent 90-day period until all Registration Defaults have been cured, up to a maximum amount of liquidated damages of $.20 per
week per $1,000 in principal amount of Notes constituting Transfer Restricted Securities. Notwithstanding the foregoing, the Company shall not be required to pay liquidated damages to each Holder of Transfer Restricted Securities if the Registration
Default arises from the failure of the Company to file, or cause to become effective, a Shelf Registration Statement within the time period required by Section 4 of this Agreement and such Registration Default is by reason of the failure of the
Holders to provide the information regarding the Holder reasonably requested by the Company, the NASD or any other regulatory agency having jurisdiction over any of the Holders at least 10 business days prior to such Registration Default. All
accrued liquidated damages shall be paid by the Company on each Damages Payment Date to the Holders by wire transfer of immediately available funds or by federal funds check and to the Holders of certificated securities by mailing a check to such
Holders’ registered addresses. Following the cure of all Registration Defaults relating to any particular Transfer Restricted Securities, the accrual of liquidated damages with respect to such Transfer Restricted Securities will cease.

 All obligations of the Company set forth in the preceding paragraph that are outstanding with respect to any Transfer Restricted Security
at the time such security ceases to be a Transfer Restricted Security shall survive until such time as all such obligations with respect to such Transfer Restricted Security shall have been satisfied in full. 
 REGISTRATION PROCEDURES 
 Exchange Offer Registration
Statement. In connection with the Exchange Offer, the Company and the Subsidiary Guarantors shall comply with all of the provisions of Section 6(c) below, shall use their best efforts to effect such exchange to permit the sale of Transfer
Restricted Securities being sold in accordance with the intended method or methods of distribution thereof, and shall comply with all of the following provisions: 
 If, due to a change in law or Commission policy after the date hereof, in the reasonable opinion of special counsel to the Company there
is a question as to whether the Exchange Offer is permitted by applicable federal law or Commission policy, the Company hereby agrees to seek a no-action letter or other favorable decision from the Commission allowing the Company and the Subsidiary
Guarantors to Consummate an Exchange Offer for such Old Notes. The Company hereby agrees to pursue the issuance of such a no-action letter or favorable decision to the Commission staff level but shall not be required to take commercially
unreasonable action to effect a change of Commission policy. The Company hereby agrees, however, to (A) participate in telephonic conferences with the Commission, (B) deliver to the Commission an analysis prepared by special counsel to the
Company setting forth the legal bases, if any, upon which such counsel has concluded that such an Exchange Offer should be permitted and (C) diligently pursue a resolution (which need not be favorable) by the Commission of such submission. The
Initial Purchaser shall be given prior notice of any action taken by the Company under this clause (i). 
  

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 As a condition to its participation in the Exchange Offer pursuant to the terms of this
Agreement, each Holder of Transfer Restricted Securities shall furnish, upon the request of the Company, prior to the Consummation of the Exchange Offer, a written representation to the Company (which may be contained in the letter of transmittal
contemplated by the Exchange Offer Registration Statement) to the effect that (A) it is not an affiliate of the Company or any of the Subsidiary Guarantors, (B) it is not engaged in, and does not intend to engage in, and has no arrangement
or understanding with any person to participate in, a distribution of the New Notes to be issued in the Exchange Offer and (C) it is acquiring the New Notes in its ordinary course of business. In addition, all such Holders of Transfer
Restricted Securities shall otherwise cooperate in the Company’s preparations for the Exchange Offer. 
 The Company and
the Initial Purchaser acknowledge that the staff of the Commission has taken the position that any broker-dealer that owns New Notes that were received by such broker-dealer for its own account in the Exchange Offer (a “Participating
Broker-Dealer”) may be deemed to be an “underwriter” within the meaning of the Act and must deliver a prospectus meeting the requirements of the Act in connection with any resale of such New Notes (other than a resale of an unsold
allotment resulting from the original offering of the Old Notes). 
 The Company and the Initial Purchaser also acknowledge
that it is the Commission staff’s position that if the Prospectus contained in the Exchange Offer Registration Statement includes a plan of distribution containing a statement to the above effect and the means by which Participating
Broker-Dealers may resell the New Notes, without naming the Participating Broker-Dealers or specifying the amount of New Notes owned by them, such Prospectus may be delivered by Participating Broker-Dealers to satisfy their prospectus delivery
obligations under the Act in connection with resales of New Notes for their own accounts, so long as the Prospectus otherwise meets the requirements of the Act. 
 Shelf Registration Statement. In the event that a Shelf Registration Statement is required by this Agreement, the Company and the Subsidiary Guarantors shall comply with all the provisions of Section 6(c)
of this Agreement and shall use their best efforts to effect such registration to permit the sale of the Transfer Restricted Securities being sold in accordance with the intended method or methods of distribution of such Transfer Restricted
Securities and, in connection therewith, the Company and the Subsidiary Guarantors will as expeditiously as possible prepare and file with the Commission a Shelf Registration Statement relating to the registration on any appropriate form under the
Act, which form shall be available for the sale of the Transfer Restricted Securities in accordance with the intended method or methods of distribution of such Transfer Restricted Securities. 
 General Provisions. In connection with any Registration Statement and any Prospectus required by this Agreement to permit the sale or resale of
Transfer Restricted 

  

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Securities (including, without limitation, any Registration Statement and the related Prospectus, to the extent that the same are required to be available to
permit resales of New Notes by Broker-Dealers), the Company and the Subsidiary Guarantors shall: 
 use their best efforts to
keep such Registration Statement continuously effective for the applicable time period required hereunder and provide all requisite financial statements (including, if required by the Act or any regulation thereunder, financial statements of the
Subsidiary Guarantors) for the period specified in Section 3 or 4 of this Agreement, as applicable; upon the occurrence of any event that would cause any such Registration Statement or the Prospectus contained therein (A) to contain a
material misstatement or omission or (B) not to be effective and usable for resale of Transfer Restricted Securities during the period required by this Agreement, the Company shall promptly notify the Holders to suspend use of the Prospectus,
and the Holders shall suspend use of the Prospectus, and such Holders shall not communicate non-public information to any third party, in violation of the securities laws, until the Company and the Subsidiary Guarantors have made an appropriate
amendment to such Registration Statement, in the case of clause (A), correcting any such misstatement or omission, and, in the case of either clause (A) or (B), the Company and the Subsidiary Guarantors shall use their best efforts to cause
such amendment to be declared effective and such Registration Statement and the related Prospectus to become usable for their intended purpose(s) as soon as practicable thereafter; 
 prepare and file with the Commission such amendments and post-effective amendments to such Registration Statement as may be necessary to
keep the Registration Statement effective for the applicable period set forth in Section 3 or 4 of this Agreement, or such shorter period as will terminate when all Transfer Restricted Securities covered by such Registration Statement have been
sold; cause the Prospectus to be supplemented by any required Prospectus supplement, and as so supplemented to be filed pursuant to Rule 424 under the Act during the applicable time period required hereunder and to comply fully with the applicable
provisions of Rules 424 and 430A under the Act in a timely manner; and comply with the provisions of the Act and the Exchange Act with respect to the disposition of all Transfer Restricted Securities covered by such Registration Statement during
such period in accordance with the intended method or methods of distribution by the sellers of such securities set forth in such Registration Statement as so amended or in such Prospectus as so supplemented; 
 advise the underwriter(s), if any, the Initial Purchaser, and, in the case of a Shelf Registration Statement, each of the selling Holders
promptly and, if requested by such Persons, to confirm such advice in writing, (A) when the Prospectus or any prospectus supplement or post-effective amendment has been filed and, with respect to any Registration Statement or any post-effective
amendment thereto, when the same has become effective, (B) of any request by the Commission for amendments to the Registration Statement or amendments or supplements to the Prospectus or for additional information relating to such Registration
Statement or Prospectus, (C) of the issuance by the Commission of any stop order suspending the effectiveness of the Registration Statement under the Act or of the suspension by any state securities commission of the 

  

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qualification of the Transfer Restricted Securities for offering or sale in any jurisdiction, or the initiation of any proceeding for any of the preceding
purposes, (D) of the existence of any fact or the happening of any event that makes any statement of a material fact made in the Registration Statement, the Prospectus, any amendment or supplement to such Registration Statement or Prospectus,
as the case may be, or any document incorporated by reference in such Registration Statement or Prospectus untrue in any material respect, or that requires the making of any additions to or changes in the Registration Statement or the Prospectus in
order to make the statements in such Registration Statement or Prospectus not misleading and that in the case of the Prospectus, it will not contain any untrue statement of a material fact or omit to state any material fact required to be stated
therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading. If at any time the Commission shall issue any stop order suspending the effectiveness of the Registration Statement,
or any state securities commission or other regulatory authority shall issue an order suspending the qualification or exemption from qualification of the Transfer Restricted Securities under state securities or Blue Sky laws, the Company and the
Subsidiary Guarantors shall use their best efforts to obtain the withdrawal or lifting of such order at the earliest possible time; 
 furnish to each of the underwriter(s), if any, the Initial Purchaser and, in the case of a Shelf Registration Statement, each of the selling Holders before filing with the Commission, copies of any Registration Statement or any Prospectus
included in such Registration Statement or Prospectus or any amendments or supplements to any such Registration Statement or Prospectus (including all documents incorporated by reference after the initial filing of such Registration Statement),
which documents will be subject to the reasonable review of such underwriter(s), if any, the Initial Purchaser, and such Holders for a period of at least five business days, and the Company and the Subsidiary Guarantors will not file any such
Registration Statement or Prospectus or any amendment or supplement to any such Registration Statement or Prospectus, as the case may be, (including all such documents incorporated by reference) to which any underwriter, Initial Purchaser or selling
Holder shall reasonably object within five business days after the receipt of such Registration Statement or Prospectus. A selling Holder or underwriter, if any, shall be deemed to have reasonably objected to such filing if such Registration
Statement, Prospectus, amendment or supplement, as applicable, as proposed to be filed, contains a material misstatement or omission; 
 promptly prior to the filing of any document that is to be incorporated by reference into a Registration Statement or Prospectus, (a) provide copies of such document to the selling Holders and to the
underwriter(s), if any, (b) make the Company’s and the Subsidiary Guarantors’ representatives available for discussion of such document and other customary due diligence matters; provided that such discussion and due diligence
shall be coordinated on behalf of the selling Holders by one counsel designated by and on behalf of such selling Holders and (c) include such information in such document prior to the filing of such document as such selling Holders or
underwriter(s), if any, may reasonably request 
  

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 make available at reasonable times for inspection by the selling Holders, any underwriter
participating in any disposition pursuant to such Registration Statement and any attorney or accountant retained by such selling Holders or any of the underwriter(s), if any, at the offices where normally kept, during reasonable business hours, all
relevant financial and other records, pertinent corporate documents and properties of the Company and the Subsidiary Guarantors and cause the Company’s and the Subsidiary Guarantors’ officers, directors and employees to supply all
information reasonably requested by any such Holder, underwriter, attorney or accountant in connection with such Registration Statement subsequent to the filing thereof and prior to its effectiveness; provided, however, that such
persons shall first agree in writing with the Company that any information that is reasonably and in good faith designated by the Company in writing as confidential at the time of delivery of such information shall be kept confidential by such
persons, unless and to the extent that (i) disclosure of such information is required by court or administrative order or is necessary to respond to inquiries of regulatory authorities, (ii) disclosure of such information is required by
law (including any disclosure requirements pursuant to federal securities laws in connection with the filing of the Shelf Registration Statement or the use of any Prospectus), (iii) such information becomes generally available to the public
other than as a result of a disclosure or failure to safeguard such information by such person or (iv) such information becomes available to such person from a source other than the Company and its Subsidiaries and such source is not bound by a
confidentiality agreement; 
 if requested by any selling Holders or the underwriter(s), if any, promptly incorporate in any
Registration Statement or Prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such selling Holders and underwriter(s), if any, may reasonably request to have included therein, including, without
limitation, information relating to the “Plan of Distribution” of the Transfer Restricted Securities, information with respect to the principal amount of Transfer Restricted Securities being sold to such underwriter(s), the purchase price
being paid for Transfer Restricted Securities and any other terms of the offering of the Transfer Restricted Securities to be sold in such offering; and make all required filings of such Prospectus supplement or post-effective amendment as soon as
practicable after the Company is notified of the matters to be incorporated in such Prospectus supplement or post-effective amendment; provided, however, that the Company shall not be required to take any action pursuant to this
Section 6(c)(vii) that would, in the opinion of counsel for the Company, violate applicable law; 
 furnish to each
underwriter, if any, the Initial Purchaser and upon request to the Company to a selling Holder without charge, at least one conformed copy of the Registration Statement, as first filed with the Commission, and of each amendment thereto, including,
upon the request of such Person, all documents incorporated by reference therein and all exhibits to the extent requested (including exhibits incorporated therein by reference); 
 deliver to each selling Holder, each of the underwriter(s), if any, and the Initial Purchaser, without charge, as many copies of the
Prospectus (including each preliminary 

  

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prospectus) and any amendment or supplement thereto as such Persons may reasonably request; the Company and the Subsidiary Guarantors hereby consent to the
use of the Prospectus and any amendment or supplement to the Prospectus by each of the selling Holders and each of the underwriter(s), if any, in connection with the offering and the sale of the Transfer Restricted Securities in accordance with the
terms thereof and with U.S. Federal securities laws and Blue Sky laws covered by the Prospectus or any amendment or supplement thereto; 
 enter into such agreements (including an underwriting agreement in form, scope and substance as is customary in underwritten offerings of securities of this type) and take all such other reasonable actions in
connection therewith in order to expedite or facilitate the disposition of the Transfer Restricted Securities pursuant to any Registration Statement contemplated by this Agreement, all as may be reasonably requested by any Holder of Transfer
Restricted Securities or the underwriter(s), if any, in connection with any sale or resale of Transfer Restricted Securities pursuant to any Registration Statement contemplated by this Agreement; and whether or not an underwriting agreement is
entered into and whether or not the registration is an Underwritten Registration, the Company and the Subsidiary Guarantors shall (i) make such representations and warranties to the Holders of such Transfer Restricted Securities and the
underwriters, if any, with respect to the business of the Company and its Subsidiaries (including with respect to businesses or assets acquired or to be acquired by any of them), and the Shelf Registration Statement, Prospectus and documents, if
any, incorporated or deemed to be incorporated by reference therein, in each case, in form, substance and scope as are customarily made by issuers to underwriters in underwritten offerings, and confirm the same if and when customarily requested;
(ii) obtain opinions of counsel to the Company and the Subsidiary Guarantors and updates thereof (which counsel and opinions (in form, scope and substance) shall be reasonably satisfactory to the underwriters, if any, and special counsel to the
Holders of the Transfer Restricted Securities being sold), addressed to each selling Holder of Transfer Restricted Securities and each of the underwriters, if any, covering the matters customarily covered in opinions requested in underwritten
offerings and such other matters as may be reasonably requested by such underwriters, if any, and special counsel to Holders of Transfer Restricted Securities; (iii) use their best efforts to obtain customary “cold comfort” letters
and updates thereof from the independent certified public accountants of the Company (and, if necessary, any other independent certified public accountants of any subsidiary of the Company or of any business acquired by the Company or any such
subsidiary for which financial statements and financial data is, or is required to be, included in the Registration Statement), addressed (where reasonably possible) to each selling Holder of Transfer Restricted Securities and each of the
underwriters, if any, such letters to be in customary form and covering matters of the type customarily covered in “cold comfort” letters in connection with underwritten offerings; (iv) if an underwriting agreement is entered into,
the same shall contain indemnification provisions and procedures no less favorable to the selling Holders and the underwriters, if any, than those set forth in Section 8 hereof (or such other provisions and procedures acceptable to Holders of a
majority in aggregate principal amount of Transfer Restricted Securities covered by such Shelf Registration Statement 

  

 13 

 
and the underwriters, if any); and (v) deliver such documents and certificates as may be reasonably requested by the Holders of a majority in aggregate
principal amount of the Transfer Restricted Securities being sold and the underwriters, if any, to evidence the continued validity of the representations and warranties made pursuant to clause (i) above and to evidence compliance with any
customary conditions contained in the underwriting agreement or other agreement entered into by the Company. 
 If at any time
the representations and warranties of the Company and the Subsidiary Guarantors contemplated in clause (i) above cease to be true and correct, the Company shall so advise the Initial Purchaser and the underwriter(s), if any, and each selling
Holder promptly and, if requested by any of them, shall confirm such advice in writing; 
 prior to any public offering of
Transfer Restricted Securities, cooperate with and cause the Subsidiary Guarantors to cooperate with the selling Holders, the underwriter(s), if any, and their respective counsel in connection with the registration and qualification (or exemption
from such registration or qualification) of the Transfer Restricted Securities for offer and sale under the securities or Blue Sky laws of such jurisdictions as the selling Holders and underwriter(s), if any, may reasonably request in writing and do
any and all other acts or things necessary or advisable to enable the disposition in such jurisdictions of the Transfer Restricted Securities covered by the Registration Statement; provided, however, that neither the Company nor the
Subsidiary Guarantors shall be required to register or qualify as a foreign corporation where it is not now so qualified or to take any action that would subject it to the service of process or to taxation, other than as to matters and transactions
relating to the Registration Statement, in any jurisdiction where it is not now so subject; 
 if a Shelf Registration is
filed pursuant to Section 2(b), cooperate with the selling Holders of Registrable Securities and the managing Underwriters, if any, to facilitate the timely preparation and delivery of certificates representing Transfer Restricted Securities to
be sold, which certificates shall not bear any restrictive legends and shall be in a form eligible for deposit with The Depository Trust Company; and enable such Transfer Restricted Securities to be in such denominations and registered in such names
as the managing Underwriters, if any, or Holders may reasonably request; 
 in connection with any sale or transfer of
Transfer Restricted Securities that will result in such securities no longer being Transfer Restricted Securities, cooperate with and cause the Subsidiary Guarantors to cooperate with the selling Holders and the underwriter(s), if any, to facilitate
the timely preparation and delivery of certificates representing Transfer Restricted Securities to be sold and not bearing any restrictive legends; and enable such Transfer Restricted Securities to be in such denominations and registered in such
names as the Holders or the underwriter(s), if any, may request at least two business days prior to any sale of Transfer Restricted Securities made by such underwriter(s); 
  

 14 

 use its best efforts to cause the Transfer Restricted Securities covered by the
Registration Statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the seller or sellers of such Transfer Restricted Securities or the underwriter(s), if any, to consummate the
disposition of such Transfer Restricted Securities, subject to the proviso contained in clause (xi) above; 
 if any fact
or event contemplated by Section 6(c)(iii)(D) of this Agreement shall exist or have occurred, prepare a supplement or post-effective amendment to the Registration Statement or related Prospectus or any document incorporated in such Registration
Statement or Prospectus by reference or file any other required document so that, as thereafter delivered to the purchasers of Transfer Restricted Securities, the Registration Statement will not contain an untrue statement of a material fact or omit
to state any material fact necessary to make the statements therein not misleading and the Prospectus will not contain an untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the
statements contained therein, in the light of the circumstances under which they were made, not misleading; 
 provide a CUSIP
number for all Transfer Restricted Securities not later than the effective date of the Registration Statement and provide the Trustee under the Indenture with printed certificates for the Transfer Restricted Securities that are in a form eligible
for deposit with The Depository Trust Company; 
 cooperate and assist in any filings required to be made with the NASD and in
the performance of any due diligence investigation by any underwriter (including any “qualified independent underwriter” that is required to be retained in accordance with the rules and regulations of the NASD); and 
 otherwise use its best efforts to comply with all applicable rules and regulations of the Commission in regards to any Registration
Statement, and make generally available to its securityholders, as soon as practicable, a consolidated earning statement of the Company meeting the requirements of Rule 158 (which need not be audited) for the twelve-month period (A) commencing
at the end of any fiscal quarter in which Transfer Restricted Securities are sold to underwriters in a firm commitment or reasonable best efforts Underwritten Offering or (B) if not sold to underwriters in such an offering, beginning with the
first month of the Company’s first fiscal quarter commencing after the effective date of the Registration Statement. 
 Each Holder
agrees by acquisition of a Transfer Restricted Security that, upon receipt of any notice from the Company of the existence of any fact of the kind described in Section 6(c)(iii)(D) of this Agreement, such Holder will forthwith discontinue
disposition of Transfer Restricted Securities pursuant to the applicable Registration Statement until such Holder’s receipt of the copies of the supplemented or amended Prospectus contemplated by Section 6(c)(xv) of this Agreement, or
until it is advised in writing (the “Advice”) by the Company that the use of the Prospectus may be resumed, and has received copies of any additional or supplemental filings that are incorporated by reference in the Prospectus. If
so directed by the Company, each Holder will deliver to the Company (at the Company’s expense) 

  

 15 

 
all copies, other than permanent file copies then in such Holder’s possession, of the Prospectus covering such Transfer Restricted Securities that was
current at the time of receipt of such notice. In the event that the Company shall give any such notice, the time period regarding the effectiveness of such Registration Statement set forth in Section 3 or 4 of this Agreement, as applicable,
shall be extended by the number of days during the period from and including the date of the giving of such notice pursuant to Section 6(c)(iii)(D) of this Agreement to and including the date when each selling Holder covered by such
Registration Statement shall have received the copies of the supplemented or amended Prospectus contemplated by Section 6(c)(xv) of this Agreement or shall have received the Advice. 
 REGISTRATION EXPENSES 
 All fees and expenses incident to the Company’s and the Subsidiary
Guarantors’ performance of or compliance with this Agreement will be borne by the Company regardless of whether a Registration Statement becomes effective, including without limitation: (i) all registration and filing fees and expenses
(including filings made with the NASD (and, if applicable, the fees and expenses of any “qualified independent underwriter” and its counsel that may be required by the rules and regulations of the NASD)); (ii) all fees and expenses of
compliance with federal securities and state Blue Sky or securities laws; (iii) all expenses of printing (including printing certificates for the New Notes to be issued in the Exchange Offer and printing of Prospectuses); (iv) all fees and
disbursements of counsel for the Company, the Subsidiary Guarantors and, subject to Section 7(b) below, the Holders of Transfer Restricted Securities; and (v) all fees and disbursements of independent certified public accountants of the
Company (including the expenses of any special audit and comfort letters required by or incident to such performance). 
 The Company will,
in any event, bear its internal expenses (including, without limitation, all salaries and expenses of its officers and employees performing legal or accounting duties), the expenses of any annual audit and the fees and expenses of any Person,
including special experts, retained by it. 
 Notwithstanding the foregoing or anything in this Agreement to the contrary, each Holder of
Transfer Restricted Securities shall pay all underwriting discounts and commissions of any underwriters with respect to any Notes sold by or on behalf of it. 
 In connection with any Registration Statement required by this Agreement (including, without limitation, the Exchange Offer Registration Statement and the Shelf Registration Statement), the Company will reimburse the
Initial Purchaser and the Holders of Transfer Restricted Securities being tendered in the Exchange Offer and/or resold pursuant to the “Plan of Distribution” contained in the Exchange Offer Registration Statement or registered pursuant to
the Shelf Registration Statement, as applicable, for the reasonable fees and disbursements of not more than one counsel, who shall be Cahill Gordon & Reindel LLP or such other counsel as may be chosen by the Holders of a majority in
principal amount of the Transfer Restricted Securities for whose benefit such Registration Statement is being prepared. 
  

 16 

 INDEMNIFICATION 
 The Company and each of the Subsidiary Guarantors jointly and severally agree to indemnify and hold harmless (i) the Initial Purchaser, each Holder of Transfer Restricted Securities and each Participating Broker Dealer, (ii) each
person, if any, who controls any of the foregoing within the meaning of Section 15 of the Act or Section 20(a) of the Exchange Act (any of the persons referred to in this clause (ii) being hereinafter referred to as a
“controlling person”) and (iii) the agents, employees, officers and directors and the agents, employees, officers and directors of any such controlling person (collectively, the “Indemnified Persons”) from and
against any and all losses, liabilities, claims, damages and reasonable expenses whatsoever (including but not limited to reasonable attorneys’ fees and any and all reasonable expenses whatsoever incurred in investigating, preparing or
defending against any litigation, commenced or threatened, or any claim whatsoever, and any and all reasonable amounts paid in settlement of any claim or litigation) to which they or any of them may become subject under the Act, the Exchange Act or
otherwise, insofar as such losses, liabilities, claims, damages or expenses (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or
Prospectus, or in any supplement thereto or amendment thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein, in the
light of the circumstances under which they were made, not misleading; provided, however, that the Company and the Subsidiary Guarantors will not be liable in any such case to the extent, but only to the extent, that any such loss,
liability, claim, damage or expense arises out of or is based upon any such untrue statement or alleged untrue statement or omission or alleged omission made therein in reliance upon and in conformity with written information furnished to the
Company by or on behalf of any Indemnified Person relating to such Indemnified Person expressly for use therein. This indemnity agreement will be in addition to any liability that the Company or any of the Subsidiary Guarantors may otherwise have,
including, but not limited to, under this Agreement. 
 In connection with any Registration Statement pursuant to which a Holder of Transfer
Restricted Securities offers or sells Transfer Restricted Securities, such Holder agrees, severally and not jointly, to indemnify and hold harmless the Company and the Subsidiary Guarantors, their respective directors and officers and any person
controlling the Company or a Subsidiary Guarantor within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act, to the same extent as the foregoing indemnity from the Company and the Subsidiary Guarantors to
each Indemnified Person but only with respect to information relating to such Holder furnished in writing by or on behalf of such Holder expressly for use in such Registration Statement. In any such case in which any action shall be brought against
the Company or a Subsidiary Guarantor, any director or officer of the Company or a Subsidiary Guarantor or any person controlling the Company or a Subsidiary Guarantor based on such Registration Statement and in respect of which indemnity may be
sought against a Holder of Transfer Restricted Securities, such Holder shall have the rights and duties given to the Company and the Subsidiary Guarantors (except that if the Company or a Subsidiary Guarantor shall have assumed the defense thereof,
such Holder shall not be required to do so, but may employ separate counsel therein and participate in the defense thereof but the fees and expenses of such counsel shall be at the expense of such Holder), and the Company and the Subsidiary
Guarantors, their 

  

 17 

 
respective directors and officers and any person controlling the Company or a Subsidiary Guarantor shall have the rights and duties given to the Indemnified
Persons by Section 8(a) hereof. 
 Promptly after receipt by an indemnified party under subsection (a) or (b) above of notice
of the commencement of any action, suit or proceeding (collectively, an “Action”), such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party under such subsection, promptly notify each
party against whom indemnification is to be sought in writing of the commencement of such Action (but the failure so to notify an indemnifying party shall not relieve such indemnifying party from any liability that it may have under this
Section 8 except to the extent that it has been prejudiced in any material respect by such failure or from any liability which it may otherwise have). In case any such Action is brought against any indemnified party, and it notifies an
indemnifying party of the commencement of such Action, the indemnifying party will be entitled to participate in such Action, and to the extent it may elect by written notice delivered to the indemnified party promptly after receiving the aforesaid
notice from such indemnified party, to assume the defense of such Action with counsel reasonably satisfactory to such indemnified party. Notwithstanding the foregoing, the indemnified party or parties shall have the right to employ its or their own
counsel in any such Action, but the fees and expenses of such counsel shall be at the expense of such indemnified party or parties unless (i) the employment of such counsel shall have been authorized in writing by the indemnifying parties in
connection with the defense of such Action, (ii) the indemnifying parties shall not have employed counsel to take charge of the defense of such Action within a reasonable time after notice of commencement of the Action, or (iii) such
indemnified party or parties shall have reasonably concluded that there may be defenses available to it or them that are different from or additional to those available to one or all of the indemnifying parties (in which case the indemnifying
parties shall not have the right to direct the defense of such Action on behalf of the indemnified party or parties), in any of which events such fees and expenses of counsel shall be borne by the indemnifying parties. In no event shall the
indemnifying party be liable for the fees and expenses of more than one counsel (together with appropriate local counsel) at any time for all indemnified parties in connection with any one Action or separate but substantially similar or related
Actions in the same jurisdiction arising out of the same general allegations or circumstances. Anything in this subsection to the contrary notwithstanding, an indemnifying party shall not be liable for any settlement of any claim or Action effected
without its written consent; provided, however, that such consent was not unreasonably withheld. 
 In order to provide for
contribution in circumstances in which the indemnification provided for in paragraphs (a) and (b) of this Section 8 is for any reason held to be unavailable from the indemnifying party, or is insufficient to hold harmless a party
indemnified under this Section 8, the Company, the Subsidiary Guarantors and the Indemnified Parties shall contribute to the aggregate losses, claims, damages, liabilities and expenses of the nature contemplated by such indemnification
provision (including any reasonable investigation, legal and other expenses incurred in connection with, and any amount paid in settlement of, any Action or any claims asserted, but after deducting in the case of losses, claims, damages, liabilities
and expenses suffered by the indemnifying party, any contribution received by the indemnifying party, from persons other than the indemnified party who may also be liable for contribution, including persons who control the indemnified party within
the meaning of Section 15 of the Act or 

  

 18 

 
Section 20(a) of the Exchange Act) to which the Company, the Subsidiary Guarantors and the Indemnified Parties may be subject, in such proportion as is
appropriate to reflect the relative benefits received by the Company and the Subsidiary Guarantors, on the one hand, and the Indemnified Parties, on the other hand, from the offering of the Old Notes or, if such allocation is not permitted by
applicable law or indemnification is not available as a result of the indemnifying party not having received notice as provided in paragraph (c) of this Section 8, in such proportion as is appropriate to reflect not only the relative
benefits referred to above but also the relative fault of the Company and the Subsidiary Guarantors, on the one hand, and the Indemnified Parties, on the other hand, in connection with the statements or omissions that resulted in such losses,
claims, damages, liabilities or expenses, as well as any other relevant equitable considerations. The relative benefits received by the Company and the Subsidiary Guarantors shall be deemed to be in the same proportion as the total proceeds from the
offering of Old Notes (net of discounts but before deducting expenses) received by the Company as set forth in the table on the cover page of the Prospectus. The relative fault of the Company and the Subsidiary Guarantors, on the one hand, and the
Indemnified Parties, on the other hand, shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information
supplied by the Company, the Subsidiary Guarantors or the Indemnified Parties and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. 
 The Company, the Subsidiary Guarantors and the Initial Purchaser agree that it would not be just and equitable if contribution pursuant to
paragraph (d) of this Section 8 were determined by pro rata allocation or by any other method of allocation that does not take into account the equitable considerations referred to above. Notwithstanding the provisions of
paragraph (d) of this Section 8, (i) in no case shall an Indemnified Party be required to contribute any amount in excess of the amount by which the total amount received by such Indemnified Party with respect to its sale of its
Transfer Restricted Securities or New Notes, as the case may be, exceeds the amount of any damages that such Indemnified Party has otherwise been required to pay by reason of any untrue or alleged untrue statement or omission or alleged omission and
(ii) no person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. For purposes of paragraphs
(d) and (e) of this Section 8, each person, if any, who controls an Indemnified Party within the meaning of Section 15 of the Act or Section 20(a) of the Exchange Act shall have the same rights to contribution as such
Indemnified Party, and each person, if any, who controls the Company or the Subsidiary Guarantors within the meaning of Section 15 of the Act or Section 20(a) of the Exchange Act shall have the same rights to contribution as the Company or
the Subsidiary Guarantors, subject in each case to clauses (i) and (ii) of this Section 8(e). Any party entitled to contribution will, promptly after receipt of notice of commencement of any Action against such party in respect of
which a claim for contribution may be made against another party or parties under paragraphs 8(d) or (e) of this Section 8, notify such party or parties from whom contribution may be sought, but the omission to so notify such party or
parties shall not relieve the party or parties from whom contribution may be sought from any obligation it or they may have under paragraphs (d) or (e) of this Section 8 or otherwise. No party shall be liable for contribution with
respect to any Action or claim settled without its written consent; provided, however, that such written consent was not unreasonably withheld. 
  

 19 

 RULE 144A 
 The Company shall use its best efforts, for so long as any Transfer Restricted Securities remain outstanding, to make available to any Holder or beneficial owner of Transfer Restricted Securities in connection with any sale of such
securities and any prospective purchaser of such Transfer Restricted Securities from such Holder or beneficial owner, the information required by Rule 144A(d)(4) under the Act in order to permit resales of such Transfer Restricted Securities
pursuant to Rule 144A. 
 PARTICIPATION IN UNDERWRITTEN REGISTRATIONS 
 No Holder may participate in any Underwritten Registration under this Agreement unless such Holder (a) agrees to sell such Holder’s Transfer Restricted Securities on the basis provided in any underwriting
arrangements approved by the Persons entitled under this Agreement to approve such arrangements and (b) completes and executes all reasonable questionnaires, powers of attorneys, indemnities, underwriting agreements, lock-up letters and other
documents required under the terms of such underwriting arrangements. 
 SELECTION OF UNDERWRITERS 
 The Holders of Transfer Restricted Securities covered by the Shelf Registration Statement who desire to do so may sell such Transfer Restricted Securities
in an Underwritten Offering. In any such Underwritten Offering, the investment banker or investment bankers and manager or managers that will administer the offering will be selected by the Holders of a majority in aggregate principal amount of the
Transfer Restricted Securities included in such offering; provided, that such investment bankers and managers must be reasonably satisfactory to the Company. 
 MISCELLANEOUS 
 Remedies. Each Holder, in addition to being entitled to exercise all rights provided
in this Agreement, in the Indenture, the Purchase Agreement or granted by law, including recovery of liquidated or other damages, will be entitled to specific performance of its rights under this Agreement. The Company and the Subsidiary Guarantors
agree that monetary damages would not be adequate compensation for any loss incurred by reason of a breach by it of the provisions of this Agreement and hereby agree to waive the defense in any Action for specific performance that a remedy at law
would be adequate. 
 No Inconsistent Agreements. The Company will not on or after the date of this Agreement enter into any agreement
with respect to its securities that is inconsistent with the rights granted to the Holders in this Agreement or otherwise conflicts with the provisions of this Agreement. The Company has not previously entered into any agreement granting any
registration rights with respect to its securities to any Person. The rights granted to the Holders under this Agreement do not in any way conflict with and are not inconsistent with the rights granted to the holders of the Company’s securities
under any agreement in effect on the date of this Agreement. 
  

 20 

 Adjustments Affecting the Notes. Without the written consent of the Holders of a majority in
aggregate principal amount of outstanding Transfer Restricted Securities, the Company and the Subsidiary Guarantors will not take any action, or permit any change to occur, with respect to such Transfer Restricted Securities that would materially
and adversely affect the ability of the Holders to Consummate any Exchange Offer. 
 Amendments and Waivers. The provisions of this
Agreement may not be amended, modified or supplemented, and waivers or consents to or departures from the provisions of this Agreement may not be given unless the Company has obtained the written consent of Holders of a majority of the outstanding
principal amount of Transfer Restricted Securities. Notwithstanding the foregoing, a waiver or consent to departure from the provisions of this Agreement that relates exclusively to the rights of Holders whose securities are being sold or tendered
pursuant to a Registration Statement and that does not affect directly or indirectly the rights of other Holders whose securities are not being sold or tendered pursuant to such Registration Statement may be given by the Holders of a majority of the
outstanding principal amount of Transfer Restricted Securities being so sold or tendered. 
 Notices. All notices and other
communications provided for or permitted hereunder shall be made in writing by hand-delivering, first-class mail (registered or certified, return receipt requested), facsimile transmission or air courier guaranteeing overnight delivery: 

if to a Holder, at the address set forth on the records of the Registrar under the Indenture, with a copy to the Registrar under the
Indenture; and 
 if to the Company or the Subsidiary Guarantors, at: 
  

	
	 United Refining Company

	 15 Bradley Street

	 Warren, Pennsylvania 16365

	 Facsimile: (814) 723-4371

	 Attention: Myron Turfitt

	
	 with a copy to:

	
	 Kramer Levin Naftalis & Frankel LLP

	 1177 Avenue of the Americas

	 New York, NY 10036

	 Facsimile: 212-715-8222

	 Attention: Shari K. Krouner

 All such notices and communications shall be deemed to have been duly given: (i) at the time
delivered by hand, if personally delivered; (ii) five business days after being deposited in the mail, postage prepaid, if mailed; (iii) when written receipt of transmission, if delivered by facsimile transmission; and (v) on the next
business day, if timely delivered to an air courier guaranteeing overnight delivery. 
  

 21 

 Copies of all such notices, demands or other communications shall be concurrently delivered by the Person
giving the same to the Trustee at the address specified in the Indenture. 
 Successors and Assigns. This Agreement shall inure to the
benefit of and be binding upon the successors and permitted assigns of each of the parties, including without limitation and without the need for an express assignment, subsequent Holders of Transfer Restricted Securities. 
 Counterparts. This Agreement may be executed in any number of counterparts and by the parties to this Agreement in separate counterparts, each of
which may be delivered by facsimile transmission, and each of which, when so executed, shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. 
 Headings. The headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning of this
Agreement. 
 Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK,
WITHOUT REGARD TO THE CONFLICT OF LAW RULES THEREOF. 
 Severability. In the event that any one or more of the provisions contained in
this Agreement, or the application of any such provision in any circumstance, is held invalid, illegal or unenforceable, the validity, legality and enforceability of any such provision in every other respect and of the remaining provisions contained
in this Agreement shall not be affected or impaired thereby. 
 Entire Agreement. This Agreement together with the other Operative
Documents (as defined in the Purchase Agreement) is intended by the parties as a final expression of their agreement and intended to be a complete and exclusive statement of the agreement and understanding of the parties to this Agreement in respect
of the subject matter contained in this Agreement. There are no restrictions, promises, warranties or undertakings, other than those set forth or referred to in this Agreement with respect to the registration rights granted by the Company with
respect to the Transfer Restricted Securities. This Agreement supersedes all prior agreements and understandings between the parties with respect to such subject matter. 
 [–Signatures pages follow–] 
  

 22 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

  

			
	UNITED REFINING COMPANY
		
	By:	 	  

	Name:	 	
	Title:	 	

  

 23 

			
	COUNTRY FAIR, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	
		
	By:	 	  

	Name:	 	
	Title:	 	

  

 24 

			
	KIANTONE PIPELINE CORPORATION
		
	By:	 	  

	Name:	 	
	Title:	 	
		
	By:	 	  

	Name:	 	
	Title:	 	

  

 25 

			
	KIANTONE PIPELINE COMPANY
		
	By:	 	  

	Name:	 	
	Title:	 	
		
	By:	 	  

	Name:	 	
	Title:	 	

  

 26 

			
	UNITED JET CENTER, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	
		
	By:	 	  

	Name:	 	
	Title:	 	

  

 27 

			
	UNITED REFINING COMPANY OF PENNSYLVANIA
		
	By:	 	  

	Name:	 	
	Title:	 	
		
	By:	 	  

	Name:	 	
	Title:	 	

  

 28 

			
	KWIK-FILL CORPORATION
		
	By:	 	  

	Name:	 	
	Title:	 	

  

 29 

			
	INDEPENDENT GASOLINE AND OIL COMPANY OF ROCHESTER, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	
		
	By:	 	  

	Name:	 	
	Title:	 	

  

 30 

			
	BELL OIL CORP.
		
	By:	 	  

	Name:	 	
	Title:	 	
		
	By:	 	  

	Name:	 	
	Title:	 	

  

 31 

			
	PPC, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	

  

 32 

			
	SUPER TEST PETROLEUM, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	

  

 33 

			
	KWIK-FIL, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	

  

 34 

			
	VULCAN ASPHALT REFINING CORPORATION
		
	By:	 	  

	Name:	 	
	Title:	 	
		
	By:	 	  

	Name:	 	
	Title:	 	

  

 35 

			
	Accepted and agreed as of the date first above written:
	
	MORGAN STANLEY & CO. INCORPORATED
		
	By:	 	  

	Name:	 	
	Title:	 	

  

 36Supplemental Indenture No. 1

 Exhibit 4.2 
  

 KENDLE INTERNATIONAL INC. 
 and 
 LASALLE BANK NATIONAL ASSOCIATION 
 as Trustee 
  

 SUPPLEMENTAL INDENTURE NO. 1 
 Dated as of
July 16, 2007 
 to 
 INDENTURE 
 Dated as of March 21, 2007 
  

 $175,000,000 Principal Amount 
 3.375% CONVERTIBLE SENIOR NOTES DUE 2012 
  

 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page
	 I.
	  	 DEFINITIONS AND INCORPORATION BY REFERENCE
	  	1
			
		  	 1.01 Definitions
	  	1
		  	 1.02 Other Definitions
	  	6
		  	 1.03 Incorporation by Reference of Trust Indenture Act
	  	7
		  	 1.04 Rules of Construction
	  	7
			
	 II.
	  	 THE SECURITIES
	  	8
			
		  	 2.01 Form and Dating
	  	8
		  	 2.02 Execution and Authentication of Securities
	  	8
		  	 2.03 Registrar, Paying Agent and Conversion Agent
	  	9
		  	 2.04 Paying Agent to Hold Money in Trust
	  	9
		  	 2.05 Transfer and Exchange
	  	9
		  	 2.06 Outstanding Securities
	  	10
		  	 2.07 Interest Payment and Record Dates
	  	10
		  	 2.08 No Additional Amounts or Sinking Fund
	  	11
		  	 2.09 Defaulted Interest
	  	11
		  	 2.10 CUSIP Numbers
	  	11
		  	 2.11 Deposit of Moneys
	  	11
		  	 2.12 Book-Entry Provisions for Global Securities
	  	11
		  	 2.13 Ranking
	  	12
		  	 2.14 Additional Securities
	  	12
			
	 III.
	  	 REDEMPTION AND REPURCHASE
	  	13
			
		  	 3.01 No Right of Redemption
	  	13
		  	 3.02 Repurchase at Option of Holder Upon a Fundamental Change
	  	13
			
	 IV.
	  	 COVENANTS
	  	19
			
		  	 4.01 Payment of Securities
	  	19
		  	 4.02 Maintenance of Office or Agency
	  	20
		  	 4.03 SEC Reports
	  	20
		  	 4.04 Waiver of Certain Covenants
	  	21
		  	 4.05 Compliance Certificate
	  	21
		  	 4.06 Further Instruments and Acts
	  	21
			
	 V.
	  	 SUCCESSORS
	  	21
			
		  	 5.01 When Company May Merge, etc.
	  	22
		  	 5.02 Successor Substituted
	  	22

  

 -i- 

					
	 VI.
	  	 DEFAULTS AND REMEDIES
	  	23
			
		  	 6.01 Events of Default
	  	23
		  	 6.02 Acceleration
	  	25
		  	 6.03 Other Remedies
	  	25
		  	 6.04 Waiver of Past Defaults
	  	25
		  	 6.05 Control by Majority
	  	26
		  	 6.06 Limitation on Suits
	  	26
		  	 6.07 Rights of Holders to Receive Payment
	  	27
		  	 6.08 Collection Suit by Trustee
	  	27
		  	 6.09 Trustee May File Proofs of Claim
	  	27
		  	 6.10 Priorities
	  	27
		  	 6.11 Undertaking for Costs
	  	28
			
	 VII.
	  	 TRUSTEE
	  	28
			
	 VIII.
	  	 NO DEFEASANCE OR COVENANT DEFEASANCE
	  	29
			
	 IX.
	  	 DISCHARGE OF SUPPLEMENTAL INDENTURE
	  	29
			
		  	 9.01 Termination of the Obligations of the Company
	  	29
		  	 9.02 Application of Trust Money
	  	29
		  	 9.03 Repayment to Company
	  	30
		  	 9.04 Reinstatement
	  	30
			
	 X.
	  	 AMENDMENTS
	  	30
			
		  	 10.01 Without Consent of Holders
	  	30
		  	 10.02 With Consent of Holders
	  	31
		  	 10.03 Compliance with Trust Indenture Act
	  	32
		  	 10.04 Revocation and Effect of Consents
	  	32
		  	 10.05 Notation on or Exchange of Securities
	  	33
		  	 10.06 Trustee Protected
	  	33
			
	 XI.
	  	 CONVERSION
	  	33
			
		  	 11.01 Conversion Privilege; Restrictive Legends
	  	33
		  	 11.02 Conversion Procedure and Payment Upon Conversion
	  	36
		  	 11.03 Taxes on Conversion
	  	38
		  	 11.04 Company to Provide Stock
	  	39
		  	 11.05 Adjustment of Conversion Rate
	  	39
		  	 11.06 No Adjustment
	  	43
		  	 11.07 Other Adjustments
	  	44
		  	 11.08 Adjustments for Tax Purposes
	  	45
		  	 11.09 Notice of Adjustment
	  	45
		  	 11.10 Notice of Certain Transactions
	  	45

  

 -ii- 

					
		  	 11.11 Effect of Reclassifications, Consolidations, Mergers, Binding Share Exchanges or Sales on Conversion
Privilege
	  	45
		  	 11.12 Trustee’s Disclaimer
	  	47
		  	 11.13 Rights Distributions Pursuant to Stockholders’ Rights Plans
	  	48
		  	 11.14 Increased Conversion Rate Applicable to Certain Notes Surrendered in Connection With Make-Whole Fundamental
Changes
	  	48
			
	 XII.
	  	 MISCELLANEOUS
	  	51
			
		  	 12.01 Trust Indenture Act Controls
	  	51
		  	 12.02 Duplicate Originals
	  	51
		  	 12.03 Governing Law
	  	51
		  	 12.04 No Adverse Interpretation of Other Agreements
	  	51
		  	 12.05 Successors
	  	51
		  	 12.06 Separability
	  	52
		  	 12.07 Table of Contents, Headings, etc.
	  	52
		  	 12.08 Calculations in Respect of the Securities
	  	52

  

					
	 Exhibit A
	  	-	  	 Form of Global Security

	 Exhibit B
	  	-	  	 Form of Legend for Global Security

  

 -iii- 

 SUPPLEMENTAL INDENTURE NO. 1 (the “Supplemental Indenture”),
dated as of July 16, 2007, between Kendle International Inc., an Ohio corporation (the “Company”), and LaSalle Bank National Association, a national banking association, as trustee (the “Trustee”). 

WITNESSETH THAT: 
 WHEREAS, the Company and the Trustee have executed and delivered a base indenture, dated as of March 21, 2007 (as amended, supplemented or otherwise modified from time to time, the “Base Indenture,” and, together with
this Supplemental Indenture, as amended, supplemented or otherwise modified from time to time, the “Indenture”) to provide for the future issuance of the Company’s senior debt securities to be issued from time to time in one or
more series; and 
 WHEREAS, pursuant to the terms of the Base Indenture, the Company desires to provide for the
establishment of a series of its Securities, to be titled as its 3.375% Convertible Senior Notes due 2012 (the “Securities”), the form and substance of such Securities and the terms, provisions and conditions thereof to be set forth
as provided in the Indenture; 
 NOW, THEREFORE: 
 Each party agrees as follows for the benefit of the other party and for the equal and ratable benefit of the Holders of the Company’s 3.375% Convertible Senior Notes due 2012 (the
“Securities”). 
 I.    DEFINITIONS AND INCORPORATION BY REFERENCE 
  

	 1.01
	 DEFINITIONS. 

 Capitalized terms used herein without definition shall have the respective meanings ascribed to them in the Base Indenture. The following definitions supplement, and, to the extent inconsistent with, replace the
definitions in Article I of the Base Indenture: 
 “Asset Sale Make-Whole Fundamental Change” means a sale,
transfer, lease, conveyance or other disposition of all or substantially all of the Company’s property or assets to any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Exchange Act), including
any group acting for the purpose of acquiring, holding, voting or disposing of securities within the meaning of Rule 13d-5(b)(1) under the Exchange Act. 
 “Bid Solicitation Agent” means a Company-appointed agent that performs calculations as set forth in Article XI hereof and paragraph 8 of the Securities. 
 “Business Day” means a day other than a Legal Holiday. 
 “Capital Stock” of any Person means any and all shares, interests, participations or other equivalents (however
designated) of capital stock of such Person and all warrants or options to acquire such capital stock. 
  

 -1- 

 “Closing Sale Price” means the price of a share of Common Stock on the
relevant date, determined (a) on the basis of the closing sale price per share of Common Stock (or if no closing sale price per share of Common Stock is reported, the average of the bid and ask prices per share of Common Stock or, if more than
one in either case, the average of the average bid and the average ask prices per share of Common Stock) on such date on the U.S. principal national securities exchange on which the Common Stock is listed; or (b) if the Common Stock is not
listed on a U.S. national securities exchange, as reported by National Quotation Bureau, Incorporated or a similar organization. In the absence of a quotation, the Closing Sale Price shall be such price as the Company shall reasonably determine on
the basis of such quotations as most accurately reflecting the price that a fully informed buyer, acting on his own accord, would pay to a fully informed seller, acting on his own accord in an arms-length transaction, for a share of such Common
Stock. 
 “Common Stock” means the common stock, no par value, of the Company, or such other Capital Stock
of the Company into which the Company’s common stock is reclassified or changed. 
 “Common Stock Change
Make-Whole Fundamental Change” means any transaction or series of related transactions (other than a Listed Stock Business Combination), in connection with which (whether by means of an exchange offer, liquidation, tender offer,
consolidation, amalgamation, statutory arrangement, merger, combination, reclassification, recapitalization, asset sale, lease of assets or otherwise) the Common Stock is exchanged for, converted into, acquired for or constitutes solely the right to
receive other securities, other property, assets or cash. 
 “Conversion Date” means, with respect to a
Security to be converted in accordance with Article XI, the date on which the Holder of such Security satisfies all the requirements for such conversion set forth in Article XI and in paragraph 8 of the Securities;
provided, however, that if such date is not a Trading Day, then the Conversion Date shall be deemed to be the next day that is a Trading Day. 
 “Conversion Consideration” shall mean the consideration due in accordance herewith upon the conversion of a Security in accordance with Article XI. 
 “Conversion Price” means, as of any date of determination, the dollar amount derived by dividing one thousand dollars
($1,000) by the Conversion Rate in effect on such date. 
 “Conversion Rate” shall initially be 20.9585
shares of Common Stock per $1,000 principal amount of Securities, subject to adjustment as provided in Article XI. 
 “Default” means any event which is, or after notice or passage of time or both would be, an Event of Default. 
 “DTC” means The Depository Trust Company, its nominees and successors. 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations of the SEC thereunder. 
  

 -2- 

 “Holder” or “Securityholder” means a person in whose
name a Security is registered on the Registrar’s books. 
 “Indebtedness” of a person means the
principal of, premium, if any, and interest on, and all other obligations in respect of (a) all indebtedness of such person for borrowed money (including all indebtedness evidenced by notes, bonds, debentures or other securities), (b) all
obligations (other than trade payables) incurred by such person in the acquisition (whether by way of purchase, merger, consolidation or otherwise and whether by such person or another person) of any business, real property or other assets,
(c) all reimbursement obligations of such person with respect to letters of credit, bankers’ acceptances or similar facilities issued for the account of such person, (d) all capital lease obligations of such person, (e) all net
obligations of such person under interest rate swap, currency exchange or similar agreements of such person, (f) all obligations and other liabilities, contingent or otherwise, under any lease or related document, including a purchase
agreement, conditional sale or other title retention agreement, in connection with the lease of real property or improvements thereon (or any personal property included as part of any such lease) which provides that such person is contractually
obligated to purchase or cause a third party to purchase the leased property or pay an agreed-upon residual value of the leased property, including such person’s obligations under such lease or related document to purchase or cause a third
party to purchase such leased property or pay an agreed-upon residual value of the leased property to the lessor, (g) guarantees by such person of indebtedness described in clauses (a) through (f) of another person, and
(h) all renewals, extensions, refundings, deferrals, restructurings, amendments and modifications of any indebtedness, obligation, guarantee or liability of the kind described in clauses (a) through (g). 
 “Issue Date” means July 16, 2007. 
 “Legal Holiday” means a Saturday, a Sunday or a day on which banking institutions are not required to be open in the City of New York, in the State of New York or in the city and
state where the Corporate Trust Office is located. 
 “Make-Whole Fundamental Change” means an Asset Sale
Make-Whole Fundamental Change or a Common Stock Change Make-Whole Fundamental Change. 
 “Market Disruption
Event” means either (i) a failure by the primary United States national securities exchange or market on which the Common Stock is listed or admitted to trading to open for trading during its regular trading session; or (ii) the
occurrence or existence prior to 1:00 p.m. on any Trading Day for the Common Stock for an aggregate of at least thirty (30) minutes of any suspension or limitation imposed on trading (by reason of movements in price exceeding limits permitted
by the stock exchange or otherwise) in the Common Stock or in any options, contracts or future contracts relating to the Common Stock. 
 “Maturity Date” means July 15, 2012. 
 “Option” means
the Underwriter’s option to acquire up to $25,000,000 aggregate principal amount of additional Securities (“Additional Securities”) as provided for in the Underwriting Agreement. 
  

 -3- 

 “Person” or “person” means any individual, corporation,
partnership, limited liability company, joint venture, association, joint-stock company, trust, unincorporated organization or government or other agency or political subdivision thereof. 
 “Purchase Notice” means a Purchase Notice in the form set forth in the Securities. 
 “Rights Agreement” means that certain Shareholder Rights Agreement between the Company and The Fifth Third Bank, as
rights agent, dated August 13, 1999, as the same may be amended, supplemented or superseded. 
 “SEC”
means the Securities and Exchange Commission. 
 “Securities” means the 3.375% Convertible Senior Notes due
2012 established by this Supplemental Indenture and issued by the Company pursuant to the Indenture. 
 “Securities
Act” means the Securities Act of 1933, as amended, and the rules and regulations of the SEC thereunder. 
 “Securities Agent” means any Registrar, Paying Agent, Conversion Agent, Bid Solicitation Agent or co-Registrar or co-agent. 
 “Significant Subsidiary” with respect to any person means any subsidiary of such person that constitutes a “significant subsidiary” within the meaning of Rule 1-02(w) of Regulation S-X under
the Securities Act, as such regulation is in effect on the date of this Supplemental Indenture. 
 “TIA”
means the Trust Indenture Act of 1939 (15 U.S. Code §§ 77aaa-77bbbb) as amended and in effect from time to time. 
 “Trading Day” means any day during which all of the following conditions are satisfied: (i) trading in the Common Stock generally occurs; (ii) there is no Market Disruption Event; and (iii) a closing sale
price for the Common Stock is provided on the NASDAQ Global Select Market or, if the Common Stock is not then listed on the NASDAQ Global Select Market, 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 listed on a U.S. national or regional securities exchange, on the principal other market on which the Common Stock is then traded. 
 “Trading Price” means, on any date, the average of the secondary market bid quotations for the Securities obtained by the Bid Solicitation Agent on behalf of the Trustee for five
million dollars ($5,000,000) principal amount of Securities at approximately 4:00 p.m., New York City time, on such date, from three (3) independent, nationally recognized securities dealers selected by the Company; provided, that if the
Bid Solicitation Agent on behalf of the Trustee can reasonably obtain only two (2) such bids, then the average of such two (2) bids shall instead be used; provided further, that if the Bid Solicitation Agent on behalf of the Trustee
can reasonably obtain only one (1) such bid, then such bid shall instead be used; provided further, that if, on a given date, the Bid Solicitation Agent on behalf of the Trustee cannot reasonably obtain at least one (1) such bid, or
if, in the reasonable, good faith judgment of the Board of Directors, which judgment shall be described in a Board Resolution, the bid quotation or quotations so obtained by 

  

 -4- 

 
the Bid Solicitation Agent on behalf of the Trustee are not indicative of the secondary market value of the Securities, then, in each case, the Trading Price
per $1,000 principal amount of Securities on such date shall be deemed to be equal to the product of (I) the Conversion Rate in effect on such date and (II) 97% of the Closing Sale Price on such date. 
 “Underwriter” means UBS Securities LLC. 
 “Underwriting Agreement” means the Underwriting Agreement dated July 10, 2007 between the Company and the Underwriter. 
 “Voting Stock” of any Person means the total voting power of all classes of the Capital Stock of such Person entitled to
vote generally in the election of directors of such Person. 
  

 -5- 

	 1.02
	 OTHER DEFINITIONS. 

  

					
	 Term
	 	  	  	Defined in Section
		
	 “Acquisition of Voting Control”
	  	3.02
	 “Additional Securities”
	  	1.01
	 “Aggregate Amount”
	  	11.05
	 “Applicable Price”
	  	11.14
	 “Bankruptcy Law”
	  	6.01
	 “BCF Make-Whole Cap”
	  	11.14
	 “Cash Settlement Averaging Period”
	  	11.02
	 “Change in Control”
	  	3.02
	 “Collective Election”
	  	11.11
	 “Conversion Agent”
	  	2.03
	 “Conversion Date”
	  	11.02
	 “Conversion Value”
	  	11.01
	 “Custodian”
	  	6.01
	 “Daily Conversion Value”
	  	11.02
	 “Daily Net Shares”
	  	11.02
	 “Daily Principal Return”
	  	11.02
	 “Effective Date”
	  	11.14
	 “Event of Default”
	  	6.01
	 “Ex Date”
	  	11.05
	 “Expiration Date”
	  	11.05
	 “Expiration Time”
	  	11.05
	 “Extension Period”
	  	11.01
	 “Fundamental Change”
	  	3.02
	 “Fundamental Change Notice”
	  	3.02
	 “Fundamental Change Repurchase Date”
	  	3.02
	 “Fundamental Change Repurchase Price”
	  	3.02
	 “Fundamental Change Repurchase Right”
	  	3.02
	 “Global Security”
	  	2.01
	 “Listed Stock Business Combination”
	  	3.02
	 “Make-Whole Applicable Increase”
	  	11.14
	 “Make-Whole Conversion Period”
	  	11.14
	 “Make-Whole Consideration”
	  	11.14
	 “Net Shares”
	  	11.02
	 “Notice of Default”
	  	6.01
	 “Note Measurement Period”
	  	11.01
	 “Participants”
	  	2.12
	 “Paying Agent”
	  	2.03
	 “Physical Securities”
	  	2.01
	 “Principal Return”
	  	11.02
	 “Purchased Shares”
	  	11.05
	 “Qualified Foreign Business Combination”
	  	5.01

  

 -6- 

					
	 “Reference Property”
	  	11.11
	 “Registrar”
	  	2.03
	 “Repurchase Upon Fundamental Change”
	  	3.01
	 “Rights”
	  	11.05
	 “Termination of Trading”
	  	3.02
	 “Trading Price Condition”
	  	11.01
	 “Underlying Shares”
	  	11.05
	 “Volume-Weighted Average Price”
	  	11.02

  

	 1.03
	 INCORPORATION BY REFERENCE OF TRUST INDENTURE
ACT. 

 Whenever this Indenture refers to a provision of the TIA, the provision is
incorporated by reference in and made a part of this Indenture. 
 The following TIA terms used in this Indenture have the
following meanings: 
 “Commission” means the SEC; 
 “indenture securities” means the Securities; 
 “indenture security holder” means a Securityholder or a Holder; 
 “indenture to be qualified” means this Indenture; 
 “indenture
trustee” or “institutional trustee” means the Trustee; and 
 “obligor” on the
indenture securities means the Company or any successor. 
 All other terms used in this Indenture that are defined by the
TIA, defined by the TIA by reference to another statute or defined by SEC rule under the TIA and not otherwise defined herein have the meanings so assigned to them. 
  

	 1.04
	 RULES OF CONSTRUCTION. 

 Unless the context otherwise requires: 
 (i)    a term has the meaning assigned to it; 
 (ii)    an accounting term not otherwise defined has the meaning assigned to it in accordance with generally accepted accounting principles in effect from time to time; 
 (iii)    “or” is not exclusive; 
 (iv)    “including” means “including without limitation”; 
 (v)    words in the singular include the plural and in the plural include the singular; 

(vi)    provisions apply to successive events and transactions; 
  

 -7- 

 (vii)    “herein,” “hereof” and
other words of similar import refer to this Indenture as a whole and not to any particular Article, Section or other subdivision of this Indenture; and 
 (viii)    references to currency shall mean the lawful currency of the United States of America, unless the context requires otherwise. 
 In addition, to the extent that the terms of this Supplemental Indenture are inconsistent or conflict with the terms of the Base
Indenture, then, for purposes of the Securities, the terms of this Supplemental Indenture shall apply to the extent of such inconsistency or conflict. 
 II.    THE SECURITIES 
  

	 2.01
	 FORM AND DATING. 

 The Securities and the Trustee’s certificate of authentication shall be substantially in the form set forth in Exhibit A, which is incorporated in and forms a part of this Indenture.
The Securities may have notations, legends or endorsements required by law, stock exchange rule or usage. Each Security shall be dated the date of its authentication. 
 The Securities shall be issued initially in the form of one or more Global Securities, substantially in the form set forth in Exhibit A (the “Global Security”), deposited
with the Trustee, as custodian for DTC (who shall be the initial Depository with respect to the Securities), duly executed by the Company and authenticated by the Trustee and bearing the legend set forth in Exhibit B. The aggregate principal
amount of the Global Security may from time to time be increased or decreased by adjustments made on the records of the Trustee, as custodian for the Depository, as hereinafter provided; provided, that, except as permitted by
Section 2.14, in no event shall the aggregate principal amount of the Global Security or Securities exceed $175,000,000 (or $200,000,000 if the Underwriter elects to purchase all of the Additional Securities pursuant to the Option).

 Securities issued in exchange for interests in a Global Security pursuant to Section 2.12 may be issued in the
form of permanent certificated Securities in registered form in substantially the form set forth in Exhibit A (the “Physical Securities”) and, if applicable, bearing any legends required hereby. 
 The Securities shall be denominated in Dollars, and all cash payments due thereon shall be made in Dollars. The Securities shall be
issuable only in registered form without interest coupons and only in denominations of $1,000 principal amount and any integral multiple thereof. 
  

	 2.02
	 EXECUTION AND AUTHENTICATION OF SECURITIES. 

 Upon a Company Order, the Trustee shall authenticate Securities for original issue in the aggregate principal amount of $175,000,000 and
such additional principal amount, if any, as shall be determined pursuant to the next sentence of this Section 2.02. Upon receipt by the Trustee of an Officers’ Certificate stating that the Underwriter has elected to purchase from
the Company a specified principal amount of Additional Securities, not to exceed $25,000,000, 

  

 -8- 

 
pursuant to the Option, the Trustee shall authenticate and deliver such specified principal amount of Additional Securities to or upon receipt of a Company
Order therefor. The aggregate principal amount of Securities outstanding at any time may not exceed $175,000,000 except as provided in this Section 2.02 or in Section 2.14. 
  

	 2.03
	 REGISTRAR, PAYING AGENT AND CONVERSION AGENT.

 The Company shall maintain an office or agency where Securities may be presented for registration of
transfer or for exchange (“Registrar”), an office or agency where Securities may be presented for payment (“Paying Agent”) and an office or agency where Securities may be presented for conversion
(“Conversion Agent”). The Corporate Trust Office shall serve as the office or agency for the aforementioned purposes. The Registrar shall keep a register of the Securities and of their transfer and exchange. The Company may appoint
or change one or more co-Registrars, one or more additional paying agents and one or more additional conversion agents without notice and may act in any such capacity on its own behalf. The term “Registrar” includes any
co-Registrar; the term “Paying Agent” includes any additional paying agent; and the term “Conversion Agent” includes any additional conversion agent. 
 The Company shall enter into an appropriate agency agreement with any Securities Agent not a party to this Indenture. The agreement shall
implement the provisions of this Indenture that relate to such Securities Agent. The Company shall notify the Trustee of the name and address of any Securities Agent not a party to this Indenture. If the Company fails to maintain a Registrar, Paying
Agent or Conversion Agent, the Trustee shall act as such. 
 The Company initially appoints the Trustee as Paying Agent, Bid
Solicitation Agent, Registrar and Conversion Agent. 
 For avoidance of doubt, this Section 2.03 shall, for
purposes of the Securities, replace Section 10.2 of the Base Indenture to the extent this Section 2.03 is inconsistent or conflicts with such Section 10.2. 
  

	 2.04
	 PAYING AGENT TO HOLD MONEY IN TRUST.

 Each Paying Agent shall hold in trust for the benefit of the Securityholders or the Trustee all moneys
held by the Paying Agent for the payment of the Securities, and shall notify the Trustee of any Default by the Company in making any such payment. While any such Default continues, the Trustee may require a Paying Agent to pay all money held by it
to the Trustee. The Company at any time may require a Paying Agent to pay all money held by it to the Trustee. Upon payment over to the Trustee, the Paying Agent shall have no further liability for such money. If the Company acts as Paying Agent, it
shall segregate and hold as a separate trust fund all money held by it as Paying Agent. 
  

	 2.05
	 TRANSFER AND EXCHANGE. 

 The Company or the Trustee, as the case may be, shall not be required to register the transfer of or exchange any Security for which a
Purchase Notice has been delivered, and not withdrawn, in accordance with this Indenture, except the unrepurchased portion of Securities 

  

 -9- 

 
being repurchased in part. This paragraph shall replace the eighth (8th) paragraph of Section 3.5 of the Base Indenture for purposes of the
Securities. 
 No service charge shall be made for any transfer, exchange or conversion of Securities, but the Company may
require payment of a sum sufficient to cover any transfer tax or similar governmental charge that may be imposed in connection with any transfer, exchange or conversion of Securities, other than exchanges pursuant to Section 3.4 of the Base
Indenture or Sections 10.05 or 11.02, or Article III, not involving any transfer. This paragraph shall replace the seventh (7th) paragraph of Section 3.5 of the Base Indenture for purposes of the Securities.

  

	 2.06
	 OUTSTANDING SECURITIES. 

 If the Paying Agent (other than the Company) holds on a Fundamental Change Repurchase Date or Maturity Date, money sufficient to pay the aggregate Fundamental Change Repurchase Price or principal
amount, as the case may be, with respect to all Securities to be paid upon Repurchase Upon Fundamental Change or maturity, as the case may be, in each case plus, if applicable, accrued and unpaid interest, if any, payable as herein provided upon
Repurchase Upon Fundamental Change or maturity, then (unless there shall be a Default in the payment of such aggregate Fundamental Change Repurchase Price or principal amount, or of such accrued and unpaid interest), except as otherwise provided
herein, on and after such date such Securities shall be deemed to be no longer outstanding, interest on such Securities shall cease to accrue, and such Securities shall be deemed paid whether or not such Securities are delivered to the Paying Agent.
Thereafter, all rights of the Holders of such Securities shall terminate with respect to such Securities, other than the right to receive the Fundamental Change Repurchase Price or principal amount, as the case may be, plus, if applicable, such
accrued and unpaid interest, in accordance with this Indenture. 
 If a Security is converted in accordance with Article
XI, then, from and after the time of such conversion on the Conversion Date, such Security shall cease to be outstanding, and interest, if any, shall cease to accrue on such Security unless there shall be a Default in the payment or delivery of
the consideration payable hereunder upon such conversion. 
 For purposes of the Securities, this Section 2.06
shall supersede and modify the definition of “Outstanding” under the Base Indenture to the extent this Section 2.06 is inconsistent or conflicts with such definition. 
  

	 2.07
	 INTEREST PAYMENT AND RECORD DATES. 

 The Interest Payment Dates for the Securities shall be July 15 and January 15 of each calendar year, beginning with, and
including, January 15, 2008. The Regular Record Date for an Interest Payment Date that falls on July 15 shall be the immediately preceding July 1, and the Regular Record Date for an Interest Payment Date that falls on January 15
shall be the immediately preceding January 1. 
  

 -10- 

	 2.08
	 NO ADDITIONAL AMOUNTS OR SINKING FUND.

 Additional Amounts shall not accrue on the Securities. There shall be no sinking fund with respect to
the Securities, and Article 12 of the Base Indenture shall not apply to the Securities. 
  

	 2.09
	 DEFAULTED INTEREST. 

 If and to the extent the Company defaults in a payment of interest on the Securities, the Company shall pay in cash the defaulted interest in any lawful manner plus, to the extent not prohibited
by applicable statute or case law, interest on such defaulted interest at the rate provided in the Securities. The Company may pay the defaulted interest (plus interest on such defaulted interest) to the persons who are Securityholders on a
subsequent special record date as provided in 3.7 of the Base Indenture. 
  

	 2.10
	 CUSIP NUMBERS. 

 The Company in issuing the Securities may use one or more CUSIP numbers, and, if so, the Trustee shall use the CUSIP numbers in notices of repurchase or exchange as a convenience to Holders; provided,
however, that no representation is hereby deemed to be made by the Trustee as to the correctness or accuracy of the CUSIP numbers printed on the notice or on the Securities; provided further, that reliance may be placed only on the
other identification numbers printed on the Securities, and the effectiveness of any such notice shall not be affected by any defect in, or omission of, such CUSIP numbers. The Company shall promptly notify the Trustee of any change in the CUSIP
numbers. 
  

	 2.11
	 DEPOSIT OF MONEYS. 

 Prior to 11:00 A.M., New York City time, on each interest payment date, Maturity Date or Fundamental Change Repurchase Date, the Company shall have deposited with a Paying Agent (or, if the
Company is acting as its own Paying Agent, segregate and hold in trust in accordance with Section 10.3 of the Base Indenture) money, in funds immediately available on such date, sufficient to make cash payments, if any, due on such interest
payment date, Maturity Date or Fundamental Change Repurchase Date, as the case may be, in a timely manner which permits the Paying Agent to remit payment to the Holders on such interest payment date, Maturity Date or Fundamental Change Repurchase
Date, as the case may be. For purposes of the Securities, the terms “at or prior to 11:00 A.M., New York City time, on” shall be deemed to replace the first instance, in each case, of the words “on or before” in the first
paragraph of Section 10.3 of the Base Indenture and “on or prior to” in the second paragraph of Section 10.3 of the Base Indenture. 
  

	 2.12
	 BOOK-ENTRY PROVISIONS FOR GLOBAL SECURITIES.

 (A)    The Global Securities initially shall (i) be registered in the name of
the Depository for the Securities or the nominee of such Depository, (ii) be delivered to the Trustee as custodian for such Depository and (iii) bear legends as required hereby. 
  

 -11- 

 Members of, or participants in, the Depository for the Securities
(“Participants”) shall have no rights under this Indenture with respect to any Global Security held on their behalf by such Depository, or the Trustee as its custodian, or under the Global Security, and such Depository may be
treated by the Company, the Trustee and any agent of the Company or the Trustee as the absolute owner of the Global Security for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Company, the Trustee or any
agent of the Company or the Trustee from giving effect to any written certification, proxy or other authorization furnished by such Depository or impair, as between such Depository and Participants, the operation of customary practices governing the
exercise of the rights of a Holder of any Security. 
 (B)    Transfers of Global Securities shall be
limited to transfers in whole, but not in part, to the Depository for the Securities, its successors or their respective nominees. Notwithstanding the fourth (4th) paragraph of Section 3.5 of the Base Indenture, Physical Securities shall
be transferred to all beneficial owners, as identified by such Depository, in exchange for their beneficial interests in Global Securities only if (i) such Depository notifies the Company that such Depository is unwilling or unable to continue
as depositary for any Global Security (or such Depository ceases to be a “clearing agency” registered under Section 17A of the Exchange Act) and a successor Depository is not appointed by the Company within ninety (90) days of
such notice or cessation or (ii) an Event of Default has occurred and is continuing and the Registrar has received a written request from such Depository to issue Physical Securities. This Section 2.12(B) shall replace the fourth
(4th) paragraph of Section 3.5 of the Base Indenture for purposes of the Securities. 
 (C)    In connection with the transfer of a Global Security in its entirety to beneficial owners pursuant to Section 2.12(B), such Global Security shall be deemed to be surrendered to the Trustee for
cancellation, and the Company shall execute, and the Trustee shall upon written instructions from the Company authenticate and deliver, to each beneficial owner identified by the Depository for the Securities in exchange for its beneficial interest
in such Global Security, an equal aggregate principal amount of Physical Securities of authorized denominations. 
 (D)    The Holder of any Global Security may grant proxies and otherwise authorize any Person, including Participants and Persons that may hold interests through Participants, to take any action which a Holder is
entitled to take under this Indenture or the Securities. 
  

	 2.13
	 RANKING. 

 The indebtedness of the Company arising under or in connection with this Indenture and every outstanding Security issued under this Indenture from time to time constitutes and will constitute a senior unsecured
obligation of the Company, ranking equally with other existing and future senior unsecured indebtedness of the Company and ranking senior to any existing or future subordinated indebtedness of the Company. 
  

	 2.14
	 ADDITIONAL SECURITIES. 

 The Company may, without the consent of the Holders and notwithstanding Sections 2.01 and 2.02 hereof, reopen the Securities and issue additional Securities hereunder with the

  

 -12- 

 
same terms and conditions (except for any difference in the issue price therefor and interest accrued prior to the date of issuance thereof) and with the
same CUSIP number as the Securities initially issued hereunder in an unlimited aggregate principal amount, which will form the same series with the Securities initially issued hereunder, provided that such additional Securities constitute the same
issue as the Securities initially issued hereunder for U.S. federal income tax purposes. The Securities initially issued hereunder and any such additional Securities would rank equally and ratably and would be treated as a single series of debt
securities for all purposes under the Indenture. 
 III.    REDEMPTION AND REPURCHASE 
 This Article III shall apply to the Securities in lieu of Article 11 of the Base Indenture, which shall be deemed to be replaced in its entirety
by this Article III for purposes of the Securities. 
  

	 3.01
	 NO RIGHT OF REDEMPTION. 

 (A)    The Securities are not subject to redemption at the Company’s option, and Article 11 of the Base
Indenture shall not apply to the Securities. 
  

	 3.02
	 REPURCHASE AT OPTION OF HOLDER UPON A
FUNDAMENTAL CHANGE. 

 (A)    In the event any
Fundamental Change (as defined below) shall occur, each Holder of Securities shall have the right (the “Fundamental Change Repurchase Right”), at such Holder’s option, to require the Company to repurchase (a “Repurchase
Upon Fundamental Change”) all of such Holder’s Securities (or portions thereof that are integral multiples of $1,000 in principal amount), on a date selected by the Company (the “Fundamental Change Repurchase Date”),
which Fundamental Change Repurchase Date shall be no later than thirty five (35) days, nor earlier than twenty (20) days, after the date the Fundamental Change Notice (as defined below) is mailed in accordance with
Section 3.02(B), at a price, payable in cash, equal to one hundred percent (100%) of the principal amount of the Securities (or portions thereof) to be so repurchased (the “Fundamental Change Repurchase Price”),
plus accrued and unpaid interest, if any, to, but excluding, the Fundamental Change Repurchase Date, upon: 
 (i)    delivery to the Company (if it is acting as its own Paying Agent), or to a Paying Agent designated by the Company for such purpose in the Fundamental Change Notice, no later than the close of business on the
Business Day immediately preceding the Fundamental Change Repurchase Date, of a Purchase Notice, in the form set forth in the Securities or any other form of written notice substantially similar thereto, in each case, duly completed and signed, with
appropriate signature guarantee, stating: 
 (a)    the certificate number(s) of the
Securities which the Holder will deliver to be repurchased, if such Securities are in certificated form; 
 (b)    the principal amount of Securities to be repurchased, which must be $1,000 or an integral multiple thereof; and 
  

 -13- 

 (c)    that such principal amount of Securities are
to be repurchased pursuant to the terms and conditions specified in paragraph 7 of the Securities and in this Indenture; and 
 (ii)    delivery to the Company (if it is acting as its own Paying Agent), or to a Paying Agent designated by the Company for such purpose in the Fundamental Change Notice, at any time after the
delivery of such Purchase Notice, of such Securities (together with all necessary endorsements) with respect to which the Fundamental Change Repurchase Right is being exercised; 
 provided, however, that if such Fundamental Change Repurchase Date is after a record date for the payment of an installment of interest and on or before the related interest payment
date, then the accrued and unpaid interest, if any, to, but excluding, such interest payment date will be paid on such interest payment date to the Holder of record of such Securities at the close of business on such record date (without any
surrender of such Securities by such Holder), and the Holder surrendering such Securities for repurchase will not be entitled to any such accrued and unpaid interest unless such Holder was also the Holder of record of such Securities at the close of
business on such record date. 
 If such Securities are held in book-entry form through the Depository for the Securities,
the Purchase Notice shall comply with applicable procedures of such Depository. 
 Upon such delivery of Securities to the
Company (if it is acting as its own Paying Agent) or such Paying Agent, such Holder shall be entitled to receive from the Company or such Paying Agent, as the case may be, a nontransferable receipt of deposit evidencing such delivery. 
 Notwithstanding anything herein to the contrary, any Holder that has delivered the Purchase Notice contemplated by this
Section 3.02(A) to the Company (if it is acting as its own Paying Agent) or to a Paying Agent designated by the Company for such purpose in the Fundamental Change Notice shall have the right to withdraw such Purchase Notice by delivery,
at any time prior to the close of business on the Business Day immediately preceding the Fundamental Change Repurchase Date, of a written notice of withdrawal to the Company (if acting as its own Paying Agent) or the Paying Agent, which notice shall
contain the information specified in Section 3.02(B)(xi). 
 The Paying Agent shall promptly notify the Company
of the receipt by it of any Purchase Notice or written notice of withdrawal thereof. 
 (B)    Within
twenty (20) Business Days after the occurrence of a Fundamental Change, the Company shall mail, or cause to be mailed, to all Holders of record of the Securities at their addresses shown in the register of the Registrar, and to beneficial
owners as required by applicable law, a notice (the “Fundamental Change Notice”) of the occurrence of such Fundamental Change and the Fundamental Change Repurchase Right arising as a result thereof. The Company shall deliver a copy
of the Fundamental Change Notice to the Trustee and shall cause a copy to be published at the expense of the Company in THE NEW YORK TIMES or THE
WALL STREET JOURNAL or another newspaper of national circulation. 
 Each
Fundamental Change Notice shall state: 
  

 -14- 

 (i)    the events causing the Fundamental Change;

 (ii)    the date of such Fundamental Change; 
 (iii)    the Fundamental Change Repurchase Date; 
 (iv)    the date by which the Fundamental Change Repurchase Right must be exercised; 
 (v)    the Fundamental Change Repurchase Price plus accrued and unpaid interest, if any, to, but
excluding, the Fundamental Change Repurchase Date; 
 (vi)    the names and addresses of
the Paying Agent and the Conversion Agent; 
 (vii)    a description of the procedures
which a Holder must follow to exercise the Fundamental Change Repurchase Right; 
 (viii)    that, in order to exercise the Fundamental Change Repurchase Right, the Securities must be surrendered for payment of the Fundamental Change Repurchase Price plus accrued and unpaid interest, if any, payable as
herein provided upon Repurchase Upon Fundamental Change; 
 (ix)    that the Fundamental
Change Repurchase Price, plus accrued and unpaid interest, if any, to, but excluding, the Fundamental Change Repurchase Date, for any Security as to which a Purchase Notice has been given and not withdrawn will be paid as promptly as practicable,
but in no event later than the later of such Fundamental Change Repurchase Date and the time of delivery of the Security (together with all necessary endorsements) as described in clause (viii) above; provided, however,
that if such Fundamental Change Repurchase Date is after a record date for the payment of an installment of interest and on or before the related interest payment date, then the accrued and unpaid interest, if any, to, but excluding, such interest
payment date will be paid on such interest payment date to the Holder of record of such Security at the close of business on such record date (without any surrender of such Securities by such Holder), and the Holder surrendering such Security for
repurchase will not be entitled to any such accrued and unpaid interest unless such Holder was also the Holder of record of such Security at the close of business on such record date; 
 (x)    that, except as otherwise provided herein, on and after such Fundamental Change Repurchase
Date (unless there shall be a Default in the payment of the consideration payable as herein provided upon Repurchase Upon Fundamental Change), interest on Securities subject to Repurchase Upon Fundamental Change will cease to accrue, and all rights
of the Holders of such Securities shall terminate, other than the right to receive, in accordance herewith, the consideration payable as herein provided upon Repurchase Upon Fundamental Change; 
 (xi)    that a Holder will be entitled to withdraw its election in the Purchase Notice if the Company
(if acting as its own Paying Agent), or the Paying Agent 

  

 -15- 

 
receives, prior to the close of business on the Business Day immediately preceding the Fundamental Change Repurchase Date, or such longer period as may be
required by law, a letter or telegram, telex or facsimile transmission (receipt of which is confirmed and promptly followed by a letter) setting forth (I) the name of such Holder, (II) a statement that such Holder is withdrawing its election to
have Securities purchased by the Company on such Fundamental Change Repurchase Date pursuant to a Repurchase Upon Fundamental Change, (III) the certificate number(s) of such Securities to be so withdrawn, if such Securities are in certificated form,
(IV) the principal amount of the Securities of such Holder to be so withdrawn, which amount must be $1,000 or an integral multiple thereof and (V) the principal amount, if any, of the Securities of such Holder that remain subject to the
Purchase Notice delivered by such Holder in accordance with this Section 3.02, which amount must be $1,000 or an integral multiple thereof; 
 (xii)    the Conversion Rate and any adjustments to the Conversion Rate that will result from such Fundamental Change; 
 (xiii)    that Securities with respect to which a Purchase Notice is given by a Holder may be
converted pursuant to Article XI, if otherwise convertible in accordance with Article XI, only if such Purchase Notice has been withdrawn in accordance with this Section 3.02 or if there shall be a Default in the payment of
the Fundamental Change Repurchase Price or in the accrued and unpaid interest, if any, payable as herein provided upon Repurchase Upon Fundamental Change; and 
 (xiv)    the CUSIP number or numbers, as the case may be, of the Securities. 
 At the Company’s request, upon reasonable prior notice, the Trustee shall mail such Fundamental Change Notice in the Company’s name and at the Company’s expense; provided, however, that the form
and content of such Fundamental Change Notice shall be prepared by the Company. 
 No failure of the Company to give a
Fundamental Change Notice shall limit any Holder’s right to exercise a Fundamental Change Repurchase Right. 
 (C)    Subject to the provisions of this Section 3.02, the Company shall pay, or cause to be paid, the Fundamental Change Repurchase Price, plus accrued and unpaid interest, if any, to, but excluding, the
Fundamental Change Repurchase Date, with respect to each Security as to which the Fundamental Change Repurchase Right shall have been exercised to the Holder thereof as promptly as practicable, but in no event later than the later of the Fundamental
Change Repurchase Date and the time such Security is surrendered to the Paying Agent; provided, however, that if such Fundamental Change Repurchase Date is after a record date for the payment of an installment of interest and on or
before the related interest payment date, then the accrued and unpaid interest, if any, to, but excluding, such interest payment date will be paid on such interest payment date to the Holder of record of such Security at the close of business on
such record date, and the Holder surrendering such Security for repurchase will not be entitled to any such accrued and unpaid interest unless such Holder was also the Holder of record of such Security at the close of business on such record date.

  

 -16- 

 (D)    Prior to 11:00 A.M., New York City time on a Fundamental
Change Repurchase Date, the Company shall deposit with a Paying Agent (or, if the Company is acting as its own Paying Agent, segregate and hold in trust in accordance with Section 10.3 of the Base Indenture) money, in funds immediately
available on the Fundamental Change Repurchase Date, sufficient to pay the consideration payable as herein provided upon Repurchase Upon Fundamental Change for all of the Securities that are to be repurchased by the Company on such Fundamental
Change Repurchase Date pursuant to a Repurchase Upon Fundamental Change. The Paying Agent shall return to the Company, as soon as practicable, any money not required for that purpose. 
 (E)    Once the Fundamental Change Notice and the Purchase Notice have been duly given in accordance with this
Section 3.02, the Securities to be repurchased pursuant to a Repurchase Upon Fundamental Change shall, on the Fundamental Change Repurchase Date, become due and payable in accordance herewith, and, on and after such date (unless there
shall be a Default in the payment of the consideration payable as herein provided upon Repurchase Upon Fundamental Change), except as otherwise herein provided, such Securities shall cease to bear interest, and all rights of the Holders of such
Securities shall terminate, other than the right to receive, in accordance herewith, such consideration. 
 (F)    Securities with respect to which a Purchase Notice has been duly delivered in accordance with this Section 3.02 may be converted pursuant to Article XI, if otherwise convertible in accordance
with Article XI, only if such Purchase Notice has been withdrawn in accordance with this Section 3.02 or if there shall be a Default in the payment of the consideration payable as herein provided upon Repurchase Upon Fundamental
Change. 
 (G)    If any Security shall not be paid upon surrender thereof for Repurchase Upon
Fundamental Change, the principal of, and accrued and unpaid interest on, such Security shall, until paid, bear interest, payable in cash, at the rate borne by such Security on the principal amount of such Security, and such Security shall continue
to be convertible pursuant to Article XI. 
 (H)    Any Security which is to be submitted for
Repurchase Upon Fundamental Change only in part shall be delivered pursuant to this Section 3.02 (with, if the Company or the Trustee so requires, due endorsement by, or a written instrument of transfer in form satisfactory to the
Company and the Trustee duly executed by, the Holder thereof or its attorney duly authorized in writing), and the Company shall execute, and the Trustee shall authenticate and make available for delivery to the Holder of such Security without
service charge, a new Security or Securities, of any authorized denomination as requested by such Holder, of the same tenor and in aggregate principal amount equal to the portion of such Security not duly submitted for Repurchase Upon Fundamental
Change. 
 (I)    Notwithstanding anything herein to the contrary, there shall be no purchase of any
Securities pursuant to this Section 3.02 if the principal amount of the Securities has been accelerated pursuant to Section 6.02 and such acceleration shall not have been rescinded on or before the applicable Fundamental
Change Repurchase Date. The Paying Agent will promptly return to the respective Holders thereof any Securities tendered to it for Repurchase Upon Fundamental Change during the continuance of such an acceleration. 
  

 -17- 

 (J)    Notwithstanding anything herein to the contrary, if the option
granted to Holders to require the repurchase of the Securities upon the occurrence of a Fundamental Change is determined to constitute a tender offer, the Company shall comply with all applicable tender offer rules under the Exchange Act, including
Rule 13e-4 and Regulation 14E thereunder, and with all other applicable laws, and will file a Schedule TO or any other schedules required under the Exchange Act or any other applicable laws. 
 (K)    As used herein and in the Securities, a “Fundamental Change” shall be deemed to have occurred
upon the occurrence of either a “Change in Control” or a “Termination of Trading.” 
 (i)    A “Change in Control” shall be deemed to have occurred at such time as: 
 (a)    any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Exchange Act) is or becomes the “beneficial owner” (as such term is used in
Rule 13d-3 under the Exchange Act), directly or indirectly, of fifty percent (50%) or more of the total outstanding voting power of all classes of the Company’s Capital Stock entitled to vote generally in the election of directors (such an
event, an “Acquisition of Voting Control”); or 
 (b)    there occurs a
sale, transfer, lease, conveyance or other disposition of all or substantially all of the Company’s property or assets to any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Exchange Act),
including any group acting for the purpose of acquiring, holding, voting or disposing of securities within the meaning of Rule 13d-5(b)(1) under the Exchange Act; or 
 (c)    the Company consolidates with, or merges with or into, another person or any person
consolidates with, or merges with or into, the Company, unless either: 
 (1)    the
persons that “beneficially owned” (as such term is used in Rule 13d-3 under the Exchange Act), directly or indirectly, the shares of the Company’s Voting Stock immediately prior to such consolidation or merger, “beneficially
own,” directly or indirectly, immediately after such consolidation or merger, shares of the surviving or continuing corporation’s Voting Stock representing at least a majority of the total outstanding voting power of all outstanding
classes of the Voting Stock of the surviving or continuing corporation in substantially the same proportion as such ownership immediately prior to such consolidation or merger; or 
 (2)    at least ninety percent (90%) of the consideration (other than cash payments for
fractional shares or pursuant to statutory appraisal rights) in such consolidation or merger consists of common stock and any associated rights traded on a U.S. national securities exchange (or which 

  

 -18- 

 
will be so traded when issued or exchanged in connection with such consolidation or merger), and, as a result of such consolidation or merger, the Securities
become convertible solely (except as to cash payments, if any, for the Principal Return, and any cash in lieu of fractional shares, due in accordance herewith upon conversion) into such common stock and associated rights (such a consolidation or
merger that satisfies the conditions set forth in this clause (2), a “Listed Stock Business Combination”); or 
 (d)    the following persons cease for any reason to constitute a majority of the Company’s Board of Directors: 
 (1)    individuals who on the Issue Date constituted the Company’s Board of Directors; and

 (2)    any new directors whose election to the Company’s Board of Directors or
whose nomination for election by the Company’s stockholders was approved by at least a majority of the directors of the Company then still in office either who were directors of the Company on the Issue Date or whose election or nomination for
election was previously so approved; or 
 (e)    the Company is liquidated or dissolved
or the holders of the Company’s Capital Stock approve any plan or proposal for the liquidation or dissolution of the Company. 
 (ii)    A “Termination of Trading” shall occur if the Common Stock of the Company (or other common stock into which the Securities are then convertible) is no longer listed for
trading on a U.S. national securities exchange. 
 IV.    COVENANTS 
  

	 4.01
	 PAYMENT OF SECURITIES. 

 This Section 4.01 shall apply to the Securities in lieu of Section 10.1 of the Base Indenture, which shall be deemed to
be replaced in its entirety by this Section 4.01 for purposes of the Securities. 
 (A)    The Company shall pay all amounts due with respect to the Securities on the dates and in the manner provided in the Securities. All such amounts shall be considered paid on the date due if the Paying Agent holds
(or, if the Company is acting as Paying Agent, the Company has segregated and holds in trust in accordance with Section 10.3 of the Base Indenture) on that date money sufficient to pay the amount then due with respect to the Securities (unless
there shall be a Default in the payment of such amounts to the respective Holder(s)). 
 (B)    The
Company shall pay, in cash, interest on any overdue amount (including, to the extent permitted by applicable law, overdue interest) at the rate borne by the Securities. 
  

 -19- 

	 4.02
	 MAINTENANCE OF OFFICE OR AGENCY. 

 This Section 4.02 shall apply to the Securities in lieu of Section 10.2 of the Base Indenture, which shall be deemed to
be replaced in its entirety by this Section 4.02 for purposes of the Securities. 
 The Company will maintain in
Chicago, Illinois, an office or agency (which may be an office of the Trustee or an affiliate of the Trustee, Registrar or co-Registrar) where Securities may be surrendered for registration of transfer or exchange, payment or conversion and where
notices and demands to or upon the Company in respect of the Securities and this Indenture may be served. The Corporate Trust Office will initially serve as the office or agency for such purposes. The Company will give prompt written notice to the
Trustee of 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 of any change in the location thereof, such
presentations, surrenders, notices and demands may continue to be made or served at the Corporate Trust Office of the Trustee. 
 The Company may also from time to time designate one or more other offices or agencies where the Securities may be presented or surrendered for any or all such purposes and may from time to time rescind such designations; provided,
however, that no such designation or rescission shall in any manner relieve the Company of its obligation to maintain an office or agency in Chicago, Illinois 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 Company
hereby designates the Corporate Trust Office of the Trustee as an agency of the Company in accordance with Section 2.03. 
  

	 4.03
	 SEC REPORTS. 

 This Section 4.03 shall apply to the Securities in lieu of Section 7.4 of the Base Indenture, which shall be deemed to be replaced in its entirety by this Section 4.03 for purposes of the Securities. 

(A)    The Company shall deliver to the Trustee, no later than fifteen (15) days after the date such report
is required to be filed with the SEC pursuant to the Exchange Act (after giving effect, to the extent applicable, any extension permitted by Rule 12b-25 under the Exchange Act), a copy of each report (or copies of such portions of such report as the
SEC may from time to time by rules and regulations prescribe) the Company is required to file with the SEC pursuant to Section 13 or 15(d) of the Exchange Act; provided, however, that the Company shall not be required to deliver to the
Trustee any material for which the Company has sought and received confidential treatment by the SEC; provided further, each such report will be deemed to be so delivered to the Trustee at the time such report is filed with the SEC through
the SEC’s EDGAR database. 
 (B)    If the Company is, at any time while any Securities are
outstanding, no longer subject to the reporting requirements of Section 13 or Section 15(d) of the Exchange Act, then the Company shall continue to provide to the Trustee (and, unless the SEC will not accept such filing, file with the SEC
in accordance with rules and regulations prescribed from time to time by 

  

 -20- 

 
the SEC) and, upon request, to each Holder, no later than the date the Company would have been required to file the same with the SEC, the reports the
Company would have been required to file with the SEC pursuant to Section 13 or 15(d) of the Exchange Act (after giving effect, to the extent it would have been applicable, any extension permitted by Rule 12b-25 under the Exchange Act) if the
Company had securities listed and registered on a national securities exchange and were subject to the reporting requirements of such sections. The Company shall also deliver to the Trustee copies of the Company’s annual report to stockholders,
containing audited financial statements, and any other financial reports which the Company furnishes to its stockholders. The Company also shall comply with the other provisions of TIA § 314(a). Delivery of such reports, information and
documents to the Trustee is for informational purposes only, and the Trustee’s receipt thereof shall not constitute constructive notice of any information contained therein or determinable from information contained therein, including the
Company’s compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officers’ Certificates). 
  

	 4.04
	 WAIVER OF CERTAIN COVENANTS. 

 For purposes of the Securities, Section 10.6 of the Base Indenture shall be subject to Sections 6.07 and 10.02, and
Section 10.6 of the Base Indenture shall not apply to, and waivers pursuant thereto shall be ineffective as to, (A) the payment of the principal of, or premium, if any, or interest on, any Security, or in the payment of the Fundamental
Change Repurchase Price (or accrued and unpaid interest, if any, payable as herein provided, upon Repurchase Upon Fundamental Change); (B) the Company’s obligations hereunder to convert any Securities in accordance with this Indenture; or
(C) any provision, or any obligation of the Company pursuant to any provision, of this Indenture or the Securities which, pursuant hereto, cannot be modified or amended without the consent of the Holder of each outstanding Security affected.

  

	 4.05
	 COMPLIANCE CERTIFICATE. 

 For purposes of the Securities, (A) the written statement required by Section 10.7(1) of the Base Indenture shall be signed by at least two (2) of the officers referred to in such
Section 10.7(1); (B) the written notice required by section 10.7(2) of the Base Indenture shall be delivered to the Trustee promptly after a Default or Event of Default occurs; and (C) the reference to “Section 10.8”
contained in 10.7(3) of the Base Indenture shall be deemed to be a reference to Section 10.7 of the Base Indenture. 
  

	 4.06
	 FURTHER INSTRUMENTS AND ACTS. 

 Upon request of the Trustee, the Company shall 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. 
 V.    SUCCESSORS 

This Article V shall apply to the Securities in lieu of Article 8 of the Base Indenture, which shall be deemed to be replaced in its entirety
by this Article V for purposes of the Securities. 
  

 -21- 

	 5.01
	 WHEN COMPANY MAY MERGE, ETC. 

 The Company shall not consolidate with, or merge with or into, or sell, transfer, lease, convey or otherwise dispose of all or
substantially all of its property or assets to, another person, whether in a single transaction or series of related transactions, unless (i) such other person is an entity organized and existing under the laws of the United States, any State
thereof or the District of Columbia; (ii) such person assumes by supplemental indenture all the obligations of the Company under the Securities and this Indenture; and (iii) immediately after giving effect to such transaction or series of
transactions, no Default or Event of Default shall exist; provided, however, that the foregoing shall not prohibit the Company from consolidating with or merging with or into an entity that is organized and existing under the laws of a
foreign jurisdiction, provided (A) clauses (ii) and (iii) above are satisfied; (B) such entity has common stock that is directly (and not through American Depositary Receipts) listed on a U.S. national securities exchange;
(C) as a result of such consolidation or merger, the Securities become convertible solely into shares of such common stock (excluding any Principal Return that is payable in cash and cash payments for fractional shares); (D) such common
stock has an average daily trading volume of a least ten million dollars ($10,000,000) during the six (6) months immediately preceding the announcement of such consolidation or merger; (E) such entity has consented to service of process in
the United States; (F) immediately prior to the announcement of such consolidation or merger, such entity’s market capitalization was at least one billion dollars ($1,000,000,000); (G) there will be no material adverse tax
consequences to record holders or beneficial owners of the Securities, or of the underlying common stock, resulting from such consolidation or merger, and the Company has obtained and delivered to the Trustee an opinion of tax counsel experienced in
such matters to that effect; and (H) such entity agrees in a supplemental indenture that, in the event that any cash dividends on such common stock paid to U.S. or Swiss Persons are subject to tax withholding, such entity will also pay, to such
U.S. or Swiss Persons, an amount in cash such that the net cash amount received by such Persons would be equal to the amount of cash such Persons would have received on account of such dividend if no such tax withholding applied. A consolidation or
merger made pursuant to, and in accordance with, the proviso to the immediately preceding sentence is herein referred to as a “Qualified Foreign Business Combination.” 
 The Company shall deliver to the Trustee, at no cost to the Trustee, prior to the consummation of the proposed transaction an
Officers’ Certificate to the foregoing effect and an Opinion of Counsel (which may rely upon such Officers’ Certificate as to the absence of Defaults and Events of Default) stating that the proposed transaction and such supplemental
indenture will, upon consummation of the proposed transaction, comply with this Indenture. 
  

	 5.02
	 SUCCESSOR SUBSTITUTED. 

 Upon any consolidation, merger or any sale, transfer, lease, conveyance or other disposition of all or substantially all of the Company’s property or assets, the successor person formed by
such consolidation or into which the Company is merged or to which such sale, transfer, lease, conveyance or other disposition is made shall succeed to, and, except in the case of a lease, be substituted for, and may exercise every right and power
of, and shall assume every duty and obligation of, the Company under this Indenture with the same effect as if such successor had been named as the Company herein. When the successor assumes all obligations 

  

 -22- 

 
of the Company hereunder, except in the case of a lease, all obligations of the predecessor shall terminate. 
 VI.    DEFAULTS AND REMEDIES 
 This Article VI shall apply to the Securities in lieu of Article 5 of the Base Indenture, which shall be deemed to be replaced in its entirety by this Article VI for purposes of the Securities.

  

	 6.01
	 EVENTS OF DEFAULT. 

 In lieu of the Events of Default enumerated in Section 5.1 of the Base Indenture, an “Event of Default” is deemed to occur with respect to the Securities if and only if:

 (i)    the Company fails to pay the principal of, or premium, if any, on, any Security
when the same becomes due and payable, whether at maturity, on a Fundamental Change Repurchase Date with respect to a Repurchase Upon Fundamental Change or otherwise; 
 (ii)    the Company fails to pay an installment of interest on any Security when due, if such failure
continues for thirty (30) days after the date when due; 
 (iii)    the Company
fails to satisfy its conversion obligations upon exercise of a Holder’s conversion rights pursuant hereto; 
 (iv)    the Company fails to timely provide a Fundamental Change Notice, as required by the provisions of this Indenture, or fails to timely provide any notice pursuant to, and in accordance with,
Section 11.14(E); 
 (v)    the Company fails to comply with any other term,
covenant or agreement set forth in the Securities or this Indenture and such failure continues for the period, and after the notice, specified below; 
 (vi)    the Company or any of its Subsidiaries defaults in the payment when due, after the expiration of any applicable grace period, of principal of, or premium, if any, or
interest on, Indebtedness for money borrowed, in the aggregate principal amount then outstanding of fifteen million dollars ($15,000,000) or more, or the acceleration of Indebtedness of the Company or any of its Subsidiaries for money borrowed in
such aggregate principal amount or more so that it becomes due and payable prior to the date on which it would otherwise become due and payable and such default is not cured or waived, or such acceleration is not rescinded, within thirty
(30) days after notice to the Company by the Trustee or to the Company and the Trustee by Holders of at least twenty five percent (25%) in aggregate principal amount of the Securities then outstanding, each in accordance with this
Indenture; 
 (vii)    the Company or any of its Subsidiaries fails to pay final
judgments, the aggregate uninsured portion of which is at least fifteen million dollars ($15,000,000), and such judgments are not paid or discharged within thirty (30) days; 
  

 -23- 

 (viii)    the Company or any of its Significant
Subsidiaries or any group of Subsidiaries that in the aggregate would constitute a Significant Subsidiary of the Company, pursuant to, or within the meaning of, any Bankruptcy Law, insolvency law, or other similar law now or hereafter in effect or
otherwise, either: 
 (A)    commences a voluntary case, 
 (B)    consents to the entry of an order for relief against it in an involuntary case, 

(C)    consents to the appointment of a Custodian of it or for all or substantially all of its
property, or 
 (D)    makes a general assignment for the benefit of its creditors; or

 (ix)    a court of competent jurisdiction enters an order or decree under any
Bankruptcy Law that: 
 (A)    is for relief against the Company or any of its
Significant Subsidiaries or any group of Subsidiaries that in the aggregate would constitute a Significant Subsidiary of the Company in an involuntary case or proceeding, or adjudicates the Company or any of its Significant Subsidiaries or any group
of Subsidiaries that in the aggregate would constitute a Significant Subsidiary of the Company insolvent or bankrupt, 
 (B)    appoints a Custodian of the Company or any of its Significant Subsidiaries or any group of Subsidiaries that in the aggregate would constitute a Significant Subsidiary of the Company for all
or substantially all of the property of the Company or any such Significant Subsidiary or any group of Subsidiaries that in the aggregate would constitute a Significant Subsidiary of the Company, as the case may be, or 
 (C)    orders the winding up or liquidation of the Company or any of its Significant Subsidiaries or
any group of Subsidiaries that in the aggregate would constitute a Significant Subsidiary of the Company, 
 and, in the case
of each of the foregoing clauses (A), (B) and (C) of this Section 6.01(ix), the order or decree remains unstayed and in effect for at least ninety (90) consecutive days. 
 The term “Bankruptcy Law” means Title 11, U.S. Code or any similar Federal or State law for the relief of debtors. The
term “Custodian” means any receiver, trustee, assignee, liquidator or similar official under any Bankruptcy Law. 
 A Default under clause (v) above is not an Event of Default until (I) the Trustee notifies the Company, or the Holders of at least twenty five percent (25%) in aggregate principal amount of the Securities then
outstanding notify the Company and the Trustee, of the Default and (II) the Default is not cured within sixty (60) days after receipt of such notice. Such notice must specify 

  

 -24- 

 
the Default, demand that it be remedied and state that the notice is a “Notice of Default.” If the Holders of at least twenty five percent
(25%) in aggregate principal amount of the outstanding Securities request the Trustee to give such notice on their behalf, the Trustee shall do so. When a Default is cured, it ceases. 
  

	 6.02
	 ACCELERATION. 

 If an Event of Default (excluding an Event of Default specified in Section 6.01(viii) or (ix) with respect to the Company (but including an Event of Default specified in
Section 6.01(viii) or (ix) solely with respect to a Significant Subsidiary of the Company or any group of Subsidiaries that in the aggregate would constitute a Significant Subsidiary of the Company)) occurs and is continuing,
the Trustee by written notice to the Company, or the Holders of at least twenty five percent (25%) in aggregate principal amount of the Securities then outstanding by written notice to the Company and the Trustee, may declare the Securities to
be immediately due and payable in full. Upon such declaration, the principal of, and any accrued and unpaid interest on, all Securities shall be due and payable immediately. If an Event of Default specified in Section 6.01(viii) or
(ix) with respect to the Company (excluding, for purposes of this sentence, an Event of Default specified in Section 6.01(viii) or (ix) solely with respect to a Significant Subsidiary of the Company or any group of
Subsidiaries that in the aggregate would constitute a Significant Subsidiary of the Company) occurs, the principal of, and accrued and unpaid interest on, all the Securities shall ipso facto become and be immediately due and payable without
any declaration or other act on the part of the Trustee or any Holder. The Holders of a majority in aggregate principal amount of the Securities then outstanding by written notice to the Trustee may rescind or annul an acceleration and its
consequences if (A) the rescission would not conflict with any order or decree, (B) all existing Events of Default, except the nonpayment of principal or interest that has become due solely because of the acceleration, have been cured or
waived and (C) all amounts due to the Trustee under Section 6.6 of the Base Indenture have been paid. 
  

	 6.03
	 OTHER REMEDIES. 

 Notwithstanding any other provision of this Indenture, if an Event of Default occurs and is continuing, the Trustee may pursue any available remedy by proceeding at law or in equity to collect
the payment of amounts due with respect to the Securities or to enforce the performance of any provision of the Securities or this Indenture. 
 The Trustee may maintain a proceeding even if it does not possess any of the Securities or does not produce any of them in the proceeding. A delay or omission by the Trustee or any Holder in exercising any right or
remedy accruing upon an Event of Default shall not impair the right or remedy or constitute a waiver of or acquiescence in the Event of Default. All remedies are cumulative. 
  

	 6.04
	 WAIVER OF PAST DEFAULTS. 

 Subject to Sections 6.07 and 10.02, the Holders of a majority in aggregate principal amount of the Securities then
outstanding may, by notice to the Trustee, waive any past Default or Event of Default and its consequences, other than (A) a Default or Event of Default in the 

  

 -25- 

 
payment of the principal of, or premium, if any, or interest on, any Security, or in the payment of the Fundamental Change Repurchase Price (or accrued and
unpaid interest, if any, payable as herein provided, upon Repurchase Upon Fundamental Change), (B) a Default or Event of Default arising from a failure by the Company to convert any Securities in accordance with this Indenture or (C) any
Default or Event of Default in respect of any provision of this Indenture or the Securities which, under Section 10.02, cannot be modified or amended without the consent of the Holder of each outstanding Security affected. When a Default
or an Event of Default is waived, it is cured and ceases. This Section 6.04 shall be in lieu of TIA § 316(a)(1)(B), and, as permitted by the TIA, TIA § 316(a)(1)(B) is hereby expressly excluded from this Indenture. 

 

	 6.05
	 CONTROL BY MAJORITY. 

 The Holders of a majority in aggregate principal amount of the Securities then outstanding may direct the time, method and place of
conducting any proceeding for any remedy available to the Trustee or exercising any trust or power conferred on it. However, the Trustee may refuse to follow any direction that conflicts with law or this Indenture, is unduly prejudicial to the
rights of other Holders or would involve the Trustee in any liability (including in its individual capacity) unless the Trustee is offered indemnity reasonably satisfactory to it; provided, that the Trustee may take any other action deemed
proper by the Trustee which is not inconsistent with such direction. This Section 6.05 shall be in lieu of TIA § 316(a)(1)(A), and, as permitted by the TIA, TIA § 316(a)(1)(A) is hereby expressly excluded from this Indenture.

  

	 6.06
	 LIMITATION ON SUITS. 

 Except as provided in Section 6.07, a Securityholder may not institute any proceeding under this Indenture, or for the
appointment of a receiver or a trustee, or for any other remedy under this Indenture unless: 
 (i)    the Holder gives to the Trustee written notice of a continuing Event of Default; 
 (ii)    the Holders of at least twenty five percent (25%) in aggregate principal amount of the Securities then outstanding make a written request to the Trustee to pursue the remedy;

 (iii)    such Holder or Holders offer and, if requested, provide to the Trustee
indemnity reasonably satisfactory to the Trustee against any loss, liability, expense damage or costs to or of the Trustee in connection with pursuing such remedy; 
 (iv)    the Trustee does not comply with or respond to the request within sixty (60) days after
receipt of such notice, request and offer of indemnity; and 
 (v)    during such sixty
(60) day period, the Holders of a majority in aggregate principal amount of the Securities then outstanding do not give the Trustee a direction inconsistent with the initial request. 
 A Securityholder may not use this Indenture to prejudice the rights of another Securityholder or to obtain a preference or priority over
another Securityholder. 
  

 -26- 

	 6.07
	 RIGHTS OF HOLDERS TO RECEIVE PAYMENT.

 Notwithstanding any other provision of this Indenture to the contrary, the right of any Holder to
receive payment of all amounts due with respect to the Securities, on or after the respective due dates as provided herein, or to bring suit for the enforcement of any such payment on or after such respective dates, shall not be impaired or affected
without the consent of the Holder. 
 Notwithstanding any other provision of this Indenture, the right of any Holder to
convert the Security in accordance with this Indenture, or to bring suit for the enforcement of such right, shall not be impaired or affected without the consent of the Holder. 
  

	 6.08
	 COLLECTION SUIT BY TRUSTEE. 

 If an Event of Default specified in Section 6.01(i) or (ii) occurs and is continuing, the Trustee may recover
judgment in its own name and as trustee of an express trust against the Company for the whole amount due with respect to the Securities, including any unpaid and accrued interest. 
  

	 6.09
	 TRUSTEE MAY FILE PROOFS OF CLAIM. 

The Trustee may file such proofs of claim and other papers or documents as may be necessary or advisable in order to have the claims
of the Trustee, any predecessor Trustee and the Securityholders allowed in any judicial proceedings relative to the Company or its creditors or properties. 
 The Trustee may collect and receive any moneys or other property payable or deliverable on any such claims and to distribute the same, and any custodian, receiver, assignee, trustee, liquidator,
sequestrator or similar official in any judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee and, in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay the
Trustee any amount due it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 6.6 of the Base Indenture. 
 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 the Securities or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding. 
  

	 6.10
	 PRIORITIES. 

 If the Trustee collects any money pursuant to this Article VI, it shall pay out the money in the following order: 
  

			
	 First:
	  	 to the Trustee for amounts due under Section 6.6 of the Base Indenture;

  

 -27- 

			
	 Second:
	  	 to Securityholders for all amounts due and unpaid on the Securities, without preference or priority of any kind, according to the amounts due and payable on the
Securities; and

		
	 Third:
	  	 to the Company.

 The Trustee, upon prior written notice to the Company, may fix a record date
and payment date for any payment by it to Securityholders pursuant to this Section 6.10. At least fifteen (15) days before each such record date, the Trustee shall mail to each Holder and the Company a written notice that states
such record date and payment date and the amount of such payment. 
  

	 6.11
	 UNDERTAKING FOR COSTS. 

 In any suit for the enforcement of any right or remedy under this Indenture or in any suit against the Trustee for any action taken or
omitted by it as Trustee, a court in its discretion may require the filing by any party litigant in the suit other than the Trustee of an undertaking to pay the costs of the suit, and the court in its discretion may assess reasonable costs,
including reasonable attorneys’ fees, against any party litigant in the suit, having due regard to the merits and good faith of the claims or defenses made by the party litigant. This Section 6.11 does not apply to a suit by the
Trustee, a suit by a Holder pursuant to Section 6.07 or a suit by Holders of more than ten percent (10%) in aggregate principal amount of the outstanding Securities. 
 VII.    TRUSTEE 
 For purposes of the Securities, the term
“grossly” shall be deemed not to be included in Sections 6.1(8) and 6.1(10) of the Base Indenture. For purposes of the Securities, the clause “the Authenticating Agent, Paying Agent and Security Registrar shall” included in
Section 6.1(9) of the Base Indenture shall be replaced by the following clause: “the Authenticating Agent, Paying Agent, Security Registrar, Bid Solicitation Agent and the Conversion Agent shall.” 
 For purposes of the Securities, Section 6.2 of the Base Indenture shall be deemed to be replaced in its entirety with the following paragraph:

 Section 6.2 Notice of Defaults. If a Default or Event of Default occurs and is continuing as to which the
Trustee has received notice pursuant to the provisions of this Indenture, or as to which a Responsible Officer of the Trustee shall have actual knowledge, then the Trustee shall mail to each Holder a notice of the Default or Event of Default within
thirty (30) days after it occurs unless such Default or Event of Default has been cured or waived; provided, however, that, except in the case of a Default or Event of Default in payment of any amounts due with respect to any
Security, the Trustee may withhold such notice if, and so long as it in good faith determines that, withholding such notice is in the best interests of Holders. 
 If 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 their 

  

 -28- 

 
exercise, as a prudent person would exercise or use under the circumstances in the conduct of his or her own affairs. 
 For purposes of the Securities, the phrase “pursuant to the terms of a side letter between the Company and the Trustee” shall be inserted
immediately prior to the word “reasonable in Section 6.6(1) of the Base Indenture. For purposes of the Securities, the phrase “Bid Solicitation Agent, Conversion Agent” shall be inserted immediately following the term
“Paying Agent” in the fourth paragraph of Section 6.6(3) of the Base Indenture. 
 VIII.    NO
DEFEASANCE OR COVENANT DEFEASANCE 
 Sections 4.2, and 4.3 of the Base Indenture shall not apply to the Securities. 
 IX.    DISCHARGE OF SUPPLEMENTAL INDENTURE 
 This Article IX shall apply to the Securities in lieu of Article 4 of the Base Indenture, which shall be deemed to be replaced in its entirety by this Article IX for purposes of the Securities.

  

	 9.01
	 TERMINATION OF THE OBLIGATIONS OF THE COMPANY.

 This Supplemental Indenture shall cease to be of further effect if (a) either (i) all
outstanding Securities (other than Securities replaced pursuant to Section 3.6 of the Base Indenture) have been delivered to the Trustee for cancellation or (ii) all outstanding Securities have become due and payable at their scheduled
maturity or upon Repurchase Upon Fundamental Change, and in either case the Company irrevocably deposits, prior to the applicable due date, with the Trustee or the Paying Agent (if the Paying Agent is not the Company or any of its Affiliates) cash
sufficient to pay all amounts due and owing on all outstanding Securities (other than Securities replaced pursuant to Section 3.6 of the Base Indenture) on the Maturity Date or Fundamental Change Repurchase Date, as the case may be;
(b) the Company pays to the Trustee all other sums payable hereunder by the Company; (c) no Default or Event of Default with respect to the Securities shall exist on the date of such deposit; (d) such deposit will not result in a
breach or violation of, or constitute a Default or Event of Default under, this Indenture or any other agreement or instrument to which the Company is a party or by which it is bound; and (e) the Company has delivered to the Trustee an
Officers’ Certificate and an Opinion of Counsel, each stating that all conditions precedent provided for herein relating to the satisfaction and discharge of this Supplemental Indenture have been complied with; provided, however,
that Sections 2.02, 2.03, 2.04, 2.05, 2.06, 2.12, 3.02, 4.01 and 4.02 and Articles IX and XI of this Supplemental Indenture, and Sections 3.6, 5.14 and 6.6 of the Base
Indenture, shall survive any discharge of this Supplemental Indenture until such time as the Securities have been paid in full and there are no Securities outstanding. 
  

	 9.02
	 APPLICATION OF TRUST MONEY. 

 The Trustee shall hold in trust all money deposited with it pursuant to Section 9.01 and shall apply such deposited money
through the Paying Agent and in accordance with this Indenture to the payment of amounts due on the Securities. 
  

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	 9.03
	 REPAYMENT TO COMPANY. 

 This Section 9.03 shall apply to the Securities in lieu of the final paragraph Section 10.3 of the Base Indenture, which
paragraph shall be deemed to be replaced in its entirety by this Section 9.03 for purposes of the Securities. 
 The Trustee and the Paying Agent shall promptly notify the Company of, and pay to the Company upon the request of the Company, any excess money held by them at any time. The Trustee and the Paying Agent shall pay to the Company upon the
written request of the Company any money held by them for the payment of the principal of, premium, if any, or any accrued and unpaid interest on, the notes that remains unclaimed for two (2) years; provided, however, that the
Trustee or such Paying Agent, before being required to make any such repayment, may, at the expense of the Company, cause to be published once in a newspaper of general circulation in the City of New York or cause to be mailed to each Holder, notice
stating that such money remains unclaimed and that, after a date specified therein, which shall not be less than thirty (30) days from the date of such publication or mailing, any unclaimed balance of such money then remaining will be repaid to
the Company. After payment to the Company, Securityholders entitled to the money must look to the Company for payment as general creditors, subject to applicable law, and all liability of the Trustee and the Paying Agent with respect to such money
and payment shall, subject to applicable law, cease. 
  

	 9.04
	 REINSTATEMENT. 

 If the Trustee or Paying Agent is unable to apply any money in accordance with Sections 9.01 and 9.02 by reason of any legal proceeding or by reason of any order or judgment of any court or governmental
authority enjoining, restraining or otherwise prohibiting such application, the obligations of the Company under this Indenture and the Securities shall be revived and reinstated as though no deposit had occurred pursuant to Sections 9.01 and
9.02 until such time as the Trustee or Paying Agent is permitted to apply all such money in accordance with Sections 9.01 and 9.02; provided, however, that if the Company has made any payment of amounts due with
respect to any Securities because of the reinstatement of its obligations, then the Company shall be subrogated to the rights of the Holders of such Securities to receive such payment from the money held by the Trustee or Paying Agent. 

X.    AMENDMENTS 
 This Article X shall apply to the Securities in lieu of Article 9 of the Base Indenture (excluding Section 9.1(4) of the Base Indenture, which shall continue to apply to the Base Indenture), and Article 9 of the Base Indenture
(excluding Section 9.1(4) of the Base Indenture, which shall continue to apply to the Base Indenture) shall be deemed to be replaced in its entirety by this Section 9.03 for purposes of the Securities. 
  

	 10.01
	 WITHOUT CONSENT OF HOLDERS. 

 The Company, with the consent of the Trustee, may amend or supplement this Indenture or the Securities without notice to or the consent
of any Securityholder: 
  

 -30- 

 (i)    to comply with Sections 5.01 and
11.11; 
 (ii)    to secure the obligations of the Company in respect of the
Securities; 
 (iii)    to add to the covenants of the Company described in this
Indenture for the benefit of Securityholders or to surrender any right or power conferred upon the Company; and 
 (iv)    to make provisions with respect to adjustments to the Conversion Rate as required by this Indenture or to increase the Conversion Rate in accordance with this Indenture. 
 In addition, the Company and the Trustee may enter into a supplemental indenture without the consent of Holders of the Securities to
(i) cure any ambiguity, defect, omission or inconsistency in this Indenture in a manner that does not, individually or in the aggregate with all other modifications made or to be made to the Indenture, adversely affect the rights of any Holder;
or (ii) conform this Indenture to the description of the Securities contained in the Prospectus Supplement of the Company, dated July 10, 2007 and filed with the SEC on July 12, 2007 (File No. 333-141475). 
  

	 10.02
	 WITH CONSENT OF HOLDERS. 

 The Company, with the consent of the Trustee, may amend or supplement this Indenture or the Securities without notice to any
Securityholder but with the written consent of the Holders of at least a majority in aggregate principal amount of the outstanding Securities. Subject to Sections 6.04 and 6.07, the Holders of a majority in aggregate principal amount of the
outstanding Securities may, by notice to the Trustee, waive compliance by the Company with any provision of this Indenture or the Securities without notice to any other Securityholder. Notwithstanding anything herein to the contrary, without the
consent of each Holder of each outstanding Security affected, an amendment, supplement or waiver, including a waiver pursuant to Section 6.04, may not: 
 (a)    change the stated maturity of the principal of, or the payment date of any installment of
interest on, any Security; 
 (b)    reduce the principal amount of, or any premium,
interest on, any Security; 
 (c)    change the place, manner or currency of payment of
principal of, or any premium, interest on, any Security; 
 (d)    impair the right to
institute suit for the enforcement of any payment on, or with respect to, or of the conversion of, any Security; 
 (e)    modify, in a manner adverse to Holders, the provisions with respect to the right of Holders pursuant to Article III to require the Company to repurchase Securities upon the occurrence of a Fundamental
Change; 
  

 -31- 

 (f)    modify the provisions of
Section 2.13 in a manner adverse to Holders; 
 (g)    adversely affect the
right of Holders to convert Securities in accordance with Article XI; 
 (h)    reduce the percentage of the aggregate principal amount of the outstanding Securities whose Holders must consent to a modification to or amendment of any provision of this Indenture or the Securities; 

(i)    reduce the percentage of the aggregate principal amount of the outstanding Securities
whose Holders must consent to a waiver of compliance with any provision of this Indenture or the Securities or a waiver of any Default or Event of Default; or 
 (j)    modify the provisions of this Indenture with respect to modification and waiver (including waiver of a Default or an Event of Default), except to increase the
percentage required for modification or waiver or to provide for the consent of each affected Holder. 
 Promptly after an
amendment, supplement or waiver under Section 10.01 or this Section 10.02 becomes effective, the Company shall mail, or cause to be mailed, to Securityholders a notice briefly describing such amendment, supplement or waiver.
Any failure of the Company to mail such notice shall not in any way impair or affect the validity of such amendment, supplement or waiver. 
 It shall not be necessary for the consent of the Holders under this Section 10.02 to approve the particular form of any proposed amendment, supplement or waiver, but it shall be sufficient if such consent
approves the substance thereof. 
  

	 10.03
	 COMPLIANCE WITH TRUST INDENTURE ACT. 

 Every amendment, waiver or supplement to this Indenture or the Securities shall comply with the TIA as then in effect. 
  

	 10.04
	 REVOCATION AND EFFECT OF CONSENTS. 

 Until an amendment, supplement or waiver becomes effective, a consent to it by a Holder is a continuing consent by the Holder and every
subsequent Holder of a Security or portion of a Security that evidences the same debt as the consenting Holder’s Security, even if notation of the consent is not made on any Security. However, any such Holder or subsequent Holder may revoke the
consent as to its Security or portion of a Security if the Trustee receives the notice of revocation before the date the amendment, supplement or waiver becomes effective. An amendment, supplement or waiver becomes effective in accordance with its
terms and thereafter binds every Holder. 
 After an amendment, supplement or waiver becomes effective with respect to the
Securities, it shall bind every Holder unless such amendment, supplement or waiver makes a 

  

 -32- 

 
change that requires, pursuant to Section 10.02, the consent of each Holder affected. In that case, the amendment, supplement or waiver shall
bind each Holder of a Security who has consented to it and, provided that notice of such amendment, supplement or waiver is reflected on a Security that evidences the same debt as the consenting Holder’s Security, every subsequent Holder of a
Security or portion of a Security that evidences the same debt as the consenting Holder’s Security. 
  

	 10.05
	 NOTATION ON OR EXCHANGE OF SECURITIES.

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

	 10.06
	 TRUSTEE PROTECTED. 

 The Trustee shall sign any amendment, supplemental indenture or waiver authorized pursuant to this Article X; provided, however, that the Trustee need not sign any amendment,
supplement or waiver authorized pursuant to this Article X that adversely affects the Trustee’s rights, duties, liabilities or immunities. The Trustee shall be entitled to receive and conclusively rely upon an Opinion of Counsel as to
legal matters and an Officers’ Certificate as to factual matters that any supplemental indenture, amendment or waiver is permitted or authorized pursuant to this Indenture and that all conditions precedent to the execution of such supplemental
indenture have been fulfilled. 
 XI. CONVERSION 
  

	 11.01
	 CONVERSION PRIVILEGE; RESTRICTIVE LEGENDS. 

 (A)    Subject to the provisions of Article III and this Article XI, the Securities shall be
convertible, in integral multiples of $1,000 principal amount, into cash, shares of Common Stock or a combination of cash and shares of Common Stock in accordance with this Article XI and as set forth below if any of the following conditions
are satisfied: 
 (i)    Conversion Based on Closing Sale Price of Common Stock.
The Securities may be surrendered for conversion on any Business Day of a calendar quarter after the calendar quarter ending June 30, 2007, if the Closing Sale Price for each of twenty (20) or more Trading Days in a period of thirty
(30) consecutive Trading Days ending on the last Trading Day of the immediately preceding calendar quarter exceeds one hundred and thirty percent (130%) of the Conversion Price in effect on the last Trading Day of the immediately preceding
calendar quarter. Solely for purposes of determining whether the Securities shall have become convertible pursuant to this Section 11.01(A)(i), the Board of Directors shall, in its good faith determination, which shall be described in a
Board Resolution, make appropriate adjustments to the Closing Sale Prices and/or such Conversion Price used to determine 

  

 -33- 

 
whether the Securities shall have become convertible pursuant to this Section 11.01(A)(i) to account for any adjustments to the Conversion Rate
which shall have become effective, or any event requiring an adjustment to the Conversion Rate where the Ex Date of such event occurs, during the period of thirty (30) consecutive Trading Days ending on the last Trading Day of the immediately
preceding calendar quarter. 
 (ii)    Conversion Upon Satisfaction of Trading Price
Condition. The Securities may be surrendered for conversion during the five (5) consecutive Business Days immediately after any five (5) consecutive Trading Day period (such five (5) consecutive Trading Day period, the
“Note Measurement Period”) in which the average Trading Price per $1,000 principal amount of the Securities was equal to or less than ninety seven percent (97%) of the average Conversion Value per $1,000 principal amount of
Securities (as defined below) during the Note Measurement Period (such condition, the “Trading Price Condition”). The Bid Solicitation Agent shall not have any obligation to determine the Trading Price unless the Company has
requested such determination, and the Company shall have no obligation to make such request unless a Holder of at least one million dollars ($1,000,000) in aggregate principal amount of Securities provides the Company with reasonable evidence that
the Trading Price per $1,000 principal amount of the Securities would be equal to or less than ninety seven percent (97%) of the Conversion Value per $1,000 principal amount of Securities. Upon receipt of such evidence, the Company shall
instruct the Bid Solicitation Agent to determine the Trading Price per $1,000 principal amount of the Securities for each of the five (5) successive Trading Days immediately after the Company receives such evidence and on each Trading Day
thereafter until the first Trading Day on which the Trading Price Condition is no longer satisfied. For purposes of this paragraph, the “Conversion Value” per $1,000 principal amount of Securities, on a given Trading Day, means the
product of the Closing Sale Price on such Trading Day and the Conversion Rate in effect on such Trading Day. 
 (iii)    Conversion Upon Certain Distributions. If the Company takes any action, or becomes aware of any event, that would require an adjustment to the Conversion Rate pursuant to Sections 11.05(b),
11.05(c), 11.05(d) or 11.05(e), the Securities may be surrendered for conversion beginning on the date the Company mails the notice to the Holders as provided in Section 11.10 (or, if earlier, the date the Company is
required to mail such notice) and at any time thereafter until the close of business on the Business Day immediately preceding the Ex Date (as defined in Section 11.05(g)) of the applicable transaction or until the Company announces that
such transaction will not take place. 
 (iv)    Conversion Upon Occurrence of Certain
Corporate Transactions. If either: 
 (a)    a Fundamental Change or a Make-Whole
Fundamental Change occurs; or 
 (b)    the Company is a party to a consolidation,
merger or binding share exchange pursuant to which the Common Stock would be converted into or 

  

 -34- 

 
exchanged for, or would constitute solely the right to receive, cash or other securities or property, 
 then, in each case, the Securities may be surrendered for conversion at any time during the period that begins on, and includes, the date
that is thirty (30) calendar days prior to the date originally announced by the Company as the anticipated effective date of such transaction (which anticipated effective date the Company shall disclose, in good faith, in the written notice,
public announcement and publication referred to in Section 11.01(D)) and ends on, and includes, the date that is thirty (30) calendar days after the actual effective date of such transaction; provided, however, that if
such transaction is a Make-Whole Fundamental Change, then the Securities may also be surrendered for conversion at any time during the Make-Whole Conversion Period applicable to such Make-Whole Fundamental Change; provided, further,
that if such transaction is a Fundamental Change, then the Securities may also be surrendered for conversion at any time until, and including, the Fundamental Change Repurchase Date applicable to such Fundamental Change. 
 (v)    Conversion during Specified Periods. The Securities may be surrendered for conversion
at any time from, and including, January 1, 2012 until the close of business of the second (2nd) business day immediately preceding July 15, 2012. 
 (B)    Notwithstanding anything herein to the contrary, the right to convert the Securities pursuant to this Article XI shall terminate at the close of business on the
Business Day immediately preceding the Maturity Date. 
 (C)    The initial Conversion Rate shall be
20.9585 shares of Common Stock per $1,000 principal amount of Securities. The Conversion Rate shall be subject to adjustment in accordance with Sections 11.05 through 11.14. 
 (D)    Whenever any event described in Section 11.01 shall occur which shall cause the Securities to
become convertible as provided in this Article XI, the Company shall promptly deliver, in accordance with Section 1.6 of the Base Indenture, written notice of the convertibility of the Securities to the Trustee and each Holder and shall,
as soon practicable, but in no event later than the open of business on the first date the Securities shall become convertible as provided in this Article XI as a result of such event, publicly announce, through a reputable national newswire
service, and publish on the Company’s website, that the Securities have become convertible. Such written notice, public announcement and publication shall include: 
 (i)    a description of such event; 
 (ii)    a description of the periods during which the Securities shall be convertible as provided in
this Article XI as a result of such event; 
 (iii)    the anticipated effective
date of such event, if applicable; and 
  

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 (iv)    the procedures Holders must follow to convert
their notes in accordance with this Article XI, including the name and address of the Conversion Agent. 
 If the
Company shall fail to make such public announcement on or before the open of business on the first date the Securities shall become convertible as provided in this Article XI as a result of such event, then (1) the Securities shall
remain convertible for an additional Business Day for each Business Day, on or after such first date the Securities become convertible, that the Company shall fail to make such public announcement (an “Extension Period”); and
(2) if the event causing the Securities to become convertible shall be a Make-Whole Fundamental Change, then, the increased Conversion Rate applicable, pursuant to Section 11.14, to Securities surrendered within the time periods
specified in Section 11.14 shall continue to apply to Securities surrendered for conversion during any such Extension Period. 
 (E)    A Holder may convert a portion of the principal amount of a Security if such portion is $1,000 principal amount or an integral multiple of $1,000 principal amount. Provisions of this
Indenture that apply to conversion of all of a Security also apply to conversion of a portion of such Security. 
  

	 11.02
	 CONVERSION PROCEDURE AND PAYMENT UPON CONVERSION.

 (A)    To convert a Security, a Holder must satisfy the requirements of paragraph
8 of the Securities. If a Security is tendered for conversion in accordance with this Article XI, then: 
 (i)    the Company shall deliver, through the Conversion Agent, the following to the Holder of such Security: 
 (a)    an amount (the “Principal Return”) in cash equal to the sum of the Daily Principal Return for each Trading Day in the Cash Settlement Averaging Period
for such conversion; and 
 (b)    if the sum of the Daily Net Shares for each Trading
Day in the Cash Settlement Averaging Period for such conversion is greater than zero (0), a certificate for a number of shares of Common Stock (the “Net Shares”) equal to such sum; provided, however, that the Company
shall not issue fractional shares of Common Stock and shall instead deliver cash (in addition to any other consideration payable upon such conversion) in an amount equal to the value of such fraction computed on the basis of the Volume-Weighted
Average Price per share of Common Stock on the last Trading Day of such Cash Settlement Averaging Period; 
 (ii)    the Company shall deliver such Principal Return and, if applicable, such Net Shares as soon as practicable following the Conversion Date applicable to such conversion, but in no event more than three
(3) Business Days after the last Trading Day in the Cash Settlement Averaging Period applicable to such conversion; provided, however, that any Make-Whole Consideration payable pursuant to Section 11.14 shall be
delivered by the Company within the time period specified in Section 11.14(D); and 
  

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 (iii)    at and after the close of business on the
last Trading Day in such Cash Settlement Averaging Period, the person in whose name such certificate representing such Net Shares, if any, is to be registered shall be treated as a stockholder of record with respect to such Net Shares, and all
rights of the Holder of such Security shall terminate, other than the right to receive the consideration deliverable upon conversion of such Security as provided herein; provided, however, that, with respect to any Net Shares due upon
such conversion as Make-Whole Consideration in accordance with Section 11.14, such person shall be treated as a stockholder of record of such Net Shares due as Make-Whole Consideration as of the close of business on the later of
(1) the date such Holder surrendered such Security for such conversion; (2) the last Trading Day in the applicable Cash Settlement Averaging Period; and (3) the Effective Date of the applicable Make-Whole Fundamental Change.

 (B)    “Cash Settlement Averaging Period” shall mean, with respect to a Security that
is tendered for conversion in accordance with this Article XI, either (i) in the event such Security is converted during the period beginning on the sixty fifth (65th) scheduled Trading Day prior to the Maturity Date, the sixty
(60) consecutive Trading Days beginning on, and including, the sixty second (62nd) scheduled Trading Day prior to the Maturity Date; or (ii) in all other circumstances, the sixty (60) consecutive Trading-Day period that begins
on, and includes, the third (3rd) Trading Day after the Conversion Date for such conversion. 
 “Daily
Principal Return” shall mean, with respect to a Trading Day, the lesser of one-sixtieth (1/60th) of one thousand dollars ($1,000) and the Daily Conversion Value for such Trading Day. 
 “Daily Conversion Value” shall mean, with respect to a Trading Day, one-sixtieth (1/60th) of the product of
(i) the Conversion Rate in effect on such Trading Day and (ii) the Volume-Weighted Average Price per share of Common Stock on such Trading Day. 
 “Daily Net Shares” shall mean, with respect to a Trading Day, an amount equal to the following: (i) if the Daily Conversion Value for such Trading Day is equal to or lesser than one-sixtieth
(1/60th) of one thousand dollars ($1,000), then the Daily Net Shares with respect to such Trading Day shall mean an amount equal to zero (0); and (ii) if the Daily Conversion Value for such Trading Day exceeds one-sixtieth (1/60th) of
one thousand dollars ($1,000), then the Daily Net Shares with respect to such Trading Day shall mean a fraction (a) whose numerator is the excess of such Daily Conversion Value over one-sixtieth (1/60th) of one thousand dollars ($1,000)
and (b) whose denominator is the Volume-Weighted Average Price per share of Common Stock on such Trading Day; provided, however, that the Board of Directors shall, in its good faith determination, which shall be described in a
Board Resolution, make appropriate adjustments to such Daily Net Shares to account for any adjustments to the Conversion Rate which shall have become effective, or any event requiring an adjustment to the Conversion Rate where the Ex Date of such
event occurs, during the applicable Cash Settlement Averaging Period. 
 The “Volume-Weighted Average
Price” per share of Common Stock on any Trading Day shall mean the volume-weighted average price per share of Common Stock on the NASDAQ Global Select Market or, if the Common Stock shall not be listed on the NASDAQ Global Select Market, on
the principal exchange or over-the-counter market on which the 

  

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Common Stock shall then be listed or traded, from 9:30 a.m. to 4:00 p.m. (New York City time) on such Trading Day as displayed by Bloomberg; provided,
however, that if such volume-weighted average price shall not be available, then the amount to be used as the Volume-Weighted Average Price on such Trading Day for purposes hereof shall be the market value per share of Common Stock on such
Trading Day determined by a nationally recognized investment banking firm retained for such purpose by the Company. 
 (C)    Except as provided in the Securities or in this Article XI, no payment or adjustment will be made for accrued interest on a converted Security or for dividends on any Common Stock issued on or prior to
conversion. If any Holder surrenders a Security for conversion after the close of business on the record date for the payment of an installment of interest and prior to the related interest payment date, then, notwithstanding such conversion, the
interest payable with respect to such Security on such interest payment date shall be paid on such interest payment date to the Holder of record of such Security at the close of business on such record date; provided, however, that such
Security, when surrendered for conversion, must be accompanied by payment to the Conversion Agent on behalf of the Company of an amount equal to the interest payable on such interest payment date on the portion so converted unless either
(i) the Company shall have, in respect of a Fundamental Change, specified a Fundamental Change Repurchase Date which is after such record date and on or before such interest payment date; or (ii) such Security is surrendered for conversion
after the close of business on the record date immediately preceding the Maturity Date; provided further, however, that, if the Company shall have, prior to the Conversion Date with respect to a Security, defaulted in a payment of interest on
such Security, then in no event shall the Holder of such Security who surrenders such Security for conversion be required to pay such defaulted interest or the interest that shall have accrued on such defaulted interest pursuant to
Section 2.09 or otherwise (it being understood that nothing in this Section 11.02(C) shall affect the Company’s obligations under Section 2.09). 
 (D)    If a Holder converts more than one Security at the same time, the number of full shares of Common Stock
issuable upon such conversion, if any, shall be based on the total principal amount of all Securities converted. 
 (E)    Upon surrender of a Security that is converted in part, the Trustee shall authenticate for the Holder a new Security equal in principal amount to the unconverted portion of the Security surrendered. 
 (F)    If the last day on which a Security may be converted is a Legal Holiday in a place where a Conversion Agent is
located, the Security may be surrendered to that Conversion Agent on the next succeeding day that is not a Legal Holiday. 
  

	 11.03
	 TAXES ON CONVERSION. 

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

  

 -38- 

 
which will be due because such shares are to be issued in a name other than such Holder’s name. Nothing herein shall preclude any tax withholding
required by law or regulation. 
  

	 11.04
	 COMPANY TO PROVIDE STOCK. 

 The Company shall at all times reserve out of its authorized but unissued Common Stock or Common Stock held in its treasury enough shares
of Common Stock to permit the conversion, in accordance herewith, of all of the Securities into shares of Common Stock. 
 All shares of Common Stock which may be issued upon conversion of the Securities shall be validly issued, fully paid and non-assessable and shall be free of preemptive or similar rights and free of any lien or adverse claim. 
 The Company shall comply with all securities laws regulating the offer and delivery of shares of Common Stock upon conversion of
Securities and shall list such shares on each national securities exchange or automated quotation system on which the Common Stock is listed. 
  

	 11.05
	 ADJUSTMENT OF CONVERSION RATE. 

 The Conversion Rate shall be subject to adjustment from time to time as follows: 
 (a)    In case the Company shall (1) pay a dividend in shares of Common Stock to all holders of
Common Stock, (2) make a distribution in shares of Common Stock to all holders of Common Stock, (3) subdivide the outstanding shares of Common Stock into a greater number of shares of Common Stock or (4) combine the outstanding shares
of Common Stock into a smaller number of shares of Common Stock, the Conversion Rate shall be adjusted by multiplying the Conversion Rate in effect immediately prior to close of business on the record date or effective date, as applicable, of such
dividend, distribution, subdivision or combination by the number of shares of Common Stock which a person who owns only one share of Common Stock immediately before the record date or effective date, as applicable, of such dividend, distribution,
subdivision or combination and who is entitled to participate in such dividend, distribution, subdivision or combination would own immediately after giving effect to such dividend, distribution, subdivision or combination (without giving effect to
any arrangement pursuant to such dividend, distribution, subdivision or combination not to issue fractional shares of Common Stock). Any adjustment made pursuant to this Section 11.05(a) shall become effective immediately after the
record date in the case of a dividend or distribution and shall become effective immediately after the effective date in the case of a subdivision or combination. 
 (b)    In case the Company shall issue rights (other than rights pursuant to a stockholders’
rights plan) or warrants to all or substantially all holders of Common Stock, entitling them, for a period expiring not more than sixty (60) days immediately following the record date for the determination of holders of Common Stock entitled to
receive such rights or warrants, to subscribe for or purchase shares of Common Stock (or securities convertible into or exchangeable 

  

 -39- 

 
or exercisable for Common Stock), at a price per share (or having a conversion, exchange or exercise price per share) that is less than the current market
price (as determined pursuant to Section 11.05(g)) per share of Common Stock on the record date for the determination of holders of Common Stock entitled to receive such rights or warrants, the Conversion Rate shall be increased by
multiplying the Conversion Rate in effect immediately prior to such record date by a fraction of which (A) the numerator shall be the sum of (I) the number of shares of Common Stock outstanding at the close of business on such record date
and (II) the aggregate number of shares (the “Underlying Shares”) of Common Stock underlying all such issued rights or warrants (whether by exercise, conversion, exchange or otherwise), and (B) the denominator shall be the sum
of (I) number of shares of Common Stock outstanding at the close of business on such record date and (II) the number of shares of Common Stock which the aggregate exercise, conversion, exchange or other price at which the Underlying Shares may
be subscribed for or purchased pursuant to such rights or warrants would purchase at such current market price per share of Common Stock. Such increase shall become effective immediately prior to the opening of business on the day following such
record date. In no event shall the Conversion Rate be decreased pursuant to this Section 11.05(b). 
 (c)     In case the Company shall dividend or distribute to all or substantially all holders of Common Stock shares of Capital Stock of the Company or any existing or future Subsidiary (other than Common Stock),
evidences of Indebtedness or other assets (other than dividends or distributions requiring an adjustment to the Conversion Rate in accordance with Sections 11.05(d) or 11.05(e)), or shall dividend or distribute to all or substantially
all holders of Common Stock rights or warrants to subscribe for or purchase securities (other than dividends or distributions of rights or warrants requiring an adjustment to the Conversion Rate in accordance with Section 11.05(b)), then
in each such case the Conversion Rate shall be increased by multiplying the Conversion Rate in effect immediately prior to the close of business on the record date for the determination of stockholders entitled to such dividend or distribution by a
fraction of which (A) the numerator shall be the current market price per share of Common Stock (as determined pursuant to Section 11.05(g)) on such record date and (B) the denominator shall be an amount equal to (I) such
current market price per share of Common Stock less (II) the fair market value (as determined in good faith by the Board of Directors, whose determination shall be conclusive and described in a Board Resolution), on such record date, of the portion
of the shares of Capital Stock, evidences of Indebtedness, assets, rights and warrants to be dividended or distributed applicable to one share of Common Stock, such increase to become effective immediately prior to the opening of business on the day
following such record date; provided, however, that if such denominator is equal to or less than zero, then, in lieu of the foregoing adjustment to the Conversion Rate, adequate provision shall be made so that each Holder shall have
the right to receive upon conversion of its Securities, in addition to any consideration otherwise payable as herein provided upon such conversion, an amount, per $1,000 principal amount of such Securities, of shares of Capital Stock, evidences of
Indebtedness, assets, rights 

  

 -40- 

 
and/or warrants that a person that owns, on such record date, a number of shares of Common Stock equal to the Conversion Rate in effect at the close of
business on such record date would have received as a result of such dividend or distribution. Notwithstanding the foregoing, in the event that the Company shall distribute rights or warrants (other than distributions of rights or warrants requiring
an adjustment to the Conversion Rate in accordance with Section 11.05(b) and other than rights under the Rights Agreement or stockholders’ rights plan the Company may have in effect at such time) (collectively,
“Rights”) pro rata to holders of Common Stock, the Company may, in lieu of making any adjustment pursuant to this Section 11.05(c), make proper provision so that each Holder of a Security who converts such
Security (or any portion thereof) on or after the record date for such distribution and prior to the expiration or redemption of the Rights shall be entitled to receive upon such conversion, in addition to any consideration otherwise payable as
herein provided upon such conversion, a number of Rights, per $1,000 principal amount of such Security, equal to the number of Rights to which a holder of a number of shares of Common Stock equal to the Conversion Rate in effect at the close of
business on such record date would be entitled at the time of such conversion in accordance with the terms and provisions of and applicable to the Rights. Notwithstanding the first sentence of this Section 11.05(c), a distribution of
rights pursuant to a stockholders’ rights plan shall not constitute a dividend or distribution requiring an adjustment to the Conversion Rate pursuant to the first sentence of this Section 11.05(c), provided that (1) such
rights have not separated from the Common Stock at the time of such distribution; and (2) the Company has made adequate provision in accordance with Section 11.13 for Holders to receive such rights upon conversion. In no event shall
the Conversion Rate be decreased pursuant to this Section 11.05(c). 
 (d)    In case the Company shall, by dividend or otherwise, at any time make a distribution of cash (excluding any cash that is distributed as part of a distribution requiring a Conversion Rate adjustment pursuant to
Section 11.05(e)) to all or substantially all holders of Common Stock, the Conversion Rate shall be increased by multiplying the Conversion Rate in effect immediately prior to the close of business on the Ex Date for such distribution by
a fraction (A) whose numerator shall be the current market price per share of Common Stock (as determined pursuant to Section 11.05(g)) on such record date and (B) whose denominator shall be an amount equal to (I) such
current market price per share of Common Stock less (II) the amount of the distribution per share of Common Stock; provided, however, that the Conversion Rate shall not be adjusted pursuant to this Section 11.05(d) to the
extent, and only to the extent, such adjustment would cause the Conversion Price to be less than one cent ($0.01) (which minimum amount shall be subject to appropriate adjustments, in the good faith determination of the Board of Directors (whose
determination shall be described in a Board Resolution), to account for stock splits and combinations, stock dividends, reclassifications and similar events); provided further that, if the denominator of such fraction shall be equal to or
less than zero, the Conversion Rate shall be instead adjusted so that the Conversion Price is equal to one cent ($0.01) (as adjusted in accordance with the immediately preceding proviso). An adjustment 

  

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to the Conversion Rate pursuant to this Section 11.05(d) shall become effective immediately after the opening of business on the such Ex Date. In
no event shall the Conversion Rate be decreased pursuant to this Section 11.05(d). 
 (e)    In case the Company or any Subsidiary shall distribute cash or other consideration in respect of a tender offer or exchange offer made by the Company or any Subsidiary for all or any portion of the Common Stock
where the sum of the aggregate amount of such cash distributed and the aggregate fair market value (as determined in good faith by the Board of Directors, whose determination shall be conclusive and set forth in a Board Resolution), as of the
Expiration Date (as defined below), of such other consideration distributed (such sum, the “Aggregate Amount”) expressed as an amount per share of Common Stock validly tendered or exchanged, and not withdrawn, pursuant to such
tender offer or exchange offer as of the Expiration Time (as defined below) (such tendered or exchanged shares of Common Stock, the “Purchased Shares”) exceeds the Closing Sale Price per share of Common Stock on the first Trading
Day after last date (such last date, the “Expiration Date”) on which tenders or exchanges could have been made pursuant to such tender offer or exchange offer (as the same may be amended through the Expiration Date), then the
Conversion Rate shall be increased by multiplying the Conversion Rate in effect immediately prior to the close of business on the Expiration Date by a fraction (A) whose numerator is equal to the sum of (I) the Aggregate Amount and (II)
the product of (a) the Closing Sale Price per share of Common Stock on the first Trading Day after the Expiration Date and (b) an amount equal to (i) the number of shares of Common Stock outstanding as of the last time (the
“Expiration Time”) at which tenders or exchanges could have been made pursuant to such tender offer or exchange offer (including all Purchased Shares) less (ii) the Purchased Shares and (B) whose denominator is equal to
the product of (I) the number of shares of Common Stock outstanding as of the Expiration Time (including all Purchased Shares) and (II) such Closing Sale Price per Common Share. 
 An increase, if any, to the Conversion Rate pursuant to this Section 11.05(e) shall become effective
immediately prior to the opening of business on the second (2nd) Business Day following the Expiration Date. In the event that the Company or a Subsidiary is obligated to purchase shares of Common Stock pursuant to any such tender offer or
exchange offer, but the Company or such Subsidiary is permanently prevented by applicable law from effecting any such purchases, or all such purchases are rescinded, then the Conversion Rate shall again be adjusted to be the Conversion Rate which
would then be in effect if such tender offer or exchange offer had not been made. If the application of this Section 11.05(e) to any tender offer or exchange offer would result in a decrease in the Conversion Rate, no adjustment shall be
made for such tender offer or exchange offer under this Section 11.05(e). 
 (f)    In addition to the foregoing adjustments in subsections (a), (b), (c), (d) and (e) above, the Company, from time to time and to the extent permitted by law and by the
rules of the NASDAQ Global Select Market, may increase the 

  

 -42- 

 
Conversion Rate by any amount for a period of at least twenty (20) days or such longer period as may be required by law, if the Board of Directors has
made a determination, which determination shall be conclusive, that such increase would be in the best interests of the Company, provided, that such increase will not cause the then effective Conversion Price to be less than one cent ($0.01)
(which minimum amount shall be subject to appropriate adjustments, in the good faith determination of the Board of Directors (whose determination shall be described in a Board Resolution), to account for stock splits and combinations, stock
dividends, reclassifications and similar events). Such Conversion Rate increase shall be irrevocable during such period. The Company shall give notice to the Trustee and cause notice of such increase to be mailed to each Holder of Securities at such
Holder’s address as the same appears on the registry books of the Registrar, at least fifteen (15) days prior to the date on which such increase commences. 
 (g)    For the purpose of any computation under subsections (a), (b), (c) or
(d) above of this Section 11.05, the current market price per share of Common Stock on any date shall be deemed to be the average of the Closing Sale Prices for the ten (10) consecutive Trading Days ending on, but
excluding, the earlier of such date and the Ex Date with respect to the issuance or distribution requiring such computation; provided, however, that such current market price per share of Common Stock shall be appropriately adjusted by
the Company, in its good faith determination, to account for any adjustment, pursuant hereto, to the Conversion Rate that shall become effective, or any event requiring, pursuant hereto, an adjustment to the Conversion Rate where the Ex Date of such
event occurs, at any time during the period that begins on, and includes, the first day of such ten (10) consecutive Trading Days and ends on, and includes, the date when the adjustment to the Conversion Rate on account of the event requiring
the computation of such current market price becomes effective. 
 The term “Ex Date,”
(i) when used with respect to any issuance or distribution, means the first date on which the Common Stock trades the regular way on the relevant exchange or in the relevant market from which the Closing Sale Price was obtained without the
right to receive such issuance or distribution, (ii) when used with respect to any subdivision or combination of shares of Common Stock, means the first date on which the Common Stock trades the regular way on such exchange or in such market
after the time at which such subdivision or combination becomes effective, and (iii) when used with respect to any tender offer or exchange offer means the first date on which the Common Stock trades the regular way on such exchange or in such
market after the expiration time of such tender offer or exchange offer (as it may be amended or extended). 
  

	 11.06
	 NO ADJUSTMENT. 

 No adjustment in the Conversion Rate pursuant to Section 11.05 shall be required until cumulative adjustments amount to one percent (1%) or more of the Conversion Rate as last
adjusted (or, if never adjusted, the initial Conversion Rate); provided, however, that any 

  

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adjustments to the Conversion Rate which by reason of this Section 11.06 are not required to be made shall be carried forward and taken into
account in any subsequent adjustment to the Conversion Rate; provided further, that at the end of each fiscal year of the Company, beginning with the fiscal year ending on December 31, 2007, any adjustments to the Conversion Rate that
have been, and at such time remain, deferred pursuant to this Section 11.06 shall be given effect, and such adjustments, if any, shall no longer be carried forward and taken into account in any subsequent adjustment to the Conversion
Rate; provided further, that if a Fundamental Change or Make-Whole Fundamental Change occurs, or if the Securities shall become convertible pursuant to Section 11.01(A)(iii) or Section 11.01(A)(iv), then, in each case,
any adjustments to the Conversion Rate that have been, and at such time remain, deferred pursuant to this Section 11.06 shall be given effect, and such adjustments, if any, shall no longer be carried forward and taken into account in any
subsequent adjustment to the Conversion Rate. All calculations under this Article XI shall be made to the nearest cent or to the nearest one-millionth of a share, as the case may be. 
 If any rights, options or warrants issued by the Company and requiring an adjustment to the Conversion Rate in accordance with
Section 11.05 are only exercisable upon the occurrence of certain triggering events, then the Conversion Rate will not be adjusted as provided in Section 11.05 until the earliest of such triggering event occurs. Upon the
expiration or termination of any such rights, options or warrants without the exercise of such rights, options or warrants, the Conversion Rate then in effect shall be adjusted immediately to the Conversion Rate which would have been in effect at
the time of such expiration or termination had such rights, options or warrants, to the extent outstanding immediately prior to such expiration or termination, never been issued. 
 If any dividend or distribution is declared and the Conversion Rate is adjusted pursuant to Section 11.05 on account of such
dividend or distribution, but such dividend or distribution is thereafter not paid or made, the Conversion Rate shall again be adjusted to the Conversion Rate which would then be in effect had such dividend or distribution not been declared.

 No adjustment to the Conversion Rate need be made pursuant to Section 11.05 for a transaction if Holders are
to participate in the transaction without conversion on a basis and with notice that the Board of Directors determines in good faith to be fair and appropriate in light of the basis and notice on which holders of Common Stock participate in the
transaction (which determination shall be described in a Board Resolution). 
  

	 11.07
	 OTHER ADJUSTMENTS. 

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

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	 11.08
	 ADJUSTMENTS FOR TAX PURPOSES. 

 Except as prohibited by law or by the rules of the NASDAQ Global Select Market, the Company may make such increases in the Conversion
Rate, in addition to those required by Section 11.05 hereof, as it determines to be advisable in order that any stock dividend, subdivision of shares, distribution of rights to purchase stock or securities or distribution of securities
convertible into or exchangeable for stock made by the Company or to its stockholders will not be taxable to the recipients thereof. 
  

	 11.09
	 NOTICE OF ADJUSTMENT. 

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

	 11.10
	 NOTICE OF CERTAIN TRANSACTIONS. 

 In the event that: 
 (1)    the Company takes any action, or becomes aware of any event, which would require an adjustment in the Conversion Rate, 
 (2)    the Company takes any action that would require a supplemental indenture pursuant to
Section 11.11, or 
 (3)    there is a dissolution or liquidation of the
Company, 
 the Company shall mail to Holders at the addresses appearing on the Registrar’s books and the Trustee a written notice
stating the proposed record, effective or expiration date, as the case may be, of any transaction referred to in clause (1), (2) or (3) of this Section 11.10. The Company shall mail such notice at least
twenty (20) days before such date; however, failure to mail such notice or any defect therein shall not affect the validity of any transaction referred to in clause (1), (2) or (3) of this
Section 11.10. 
 11.11    EFFECT OF RECLASSIFICATIONS,
CONSOLIDATIONS, MERGERS, BINDING SHARE EXCHANGES OR SALES ON CONVERSION PRIVILEGE. 

If any of the following shall occur, namely: (i) any reclassification or change in the Common Stock issuable upon conversion of
Securities (other than a change in par value, or from par value to no par value, or from no par value to par value, or as a result of a subdivision or combination of Common Stock), (ii) any consolidation, merger or binding share exchange to
which the Company is a party other than a merger in which the Company is the continuing Person and which does not result in any reclassification of, or change (other than a change in name, or par value, or from par value to no par value, or from no
par value to par value or as a result of a subdivision or combination) in, the Common Stock or (iii) any sale, transfer, lease, conveyance or other disposition of all or substantially all of the Company’s property or assets, in 

  

 -45- 

 
each case pursuant to which the Common Stock would be converted into or exchanged for, or would constitute solely the right to receive, cash, securities or
other property, then the Company or such successor or purchasing Person, as the case may be, shall, as a condition precedent to such reclassification, change, consolidation, merger, binding share exchange, sale, transfer, lease, conveyance or
disposition, execute and deliver to the Trustee a supplemental indenture in form reasonably satisfactory to the Trustee providing that, at and after the effective time of such reclassification, change, consolidation, merger, binding share exchange,
sale, transfer, lease, conveyance or disposition, the Holder of each Security then outstanding shall have the right to convert such Security (if otherwise convertible pursuant to this Article XI) into the kind and amount of cash, securities
or other property (collectively, “Reference Property”) receivable upon such reclassification, change, consolidation, merger, binding share exchange, sale, transfer, lease, conveyance or disposition by a holder of a number of shares
of Common Stock equal to a fraction whose denominator is one thousand (1,000) and whose numerator is the product of the principal amount of such Security and the Conversion Rate in effect immediately prior to such reclassification, change,
consolidation, merger, binding share exchange, sale, transfer, lease, conveyance or disposition (assuming, if holders of Common Stock shall have the opportunity to elect the form of consideration to receive pursuant to such reclassification, change,
consolidation, merger, binding share exchange, sale, transfer, lease, conveyance or disposition, that the Collective Election shall have been made with respect to such election); provided, however, that at and after the effective time
of such reclassification, change, consolidation, merger, binding share exchange, sale, transfer, lease, conveyance or disposition, the Principal Return payable hereunder upon the conversion of a Security shall continue to be payable in cash and the
Daily Conversion Value and Daily Net Shares shall be calculated based on the volume-weighted average price (or, if such price is not available, the fair value) of the Reference Property instead of the Volume-Weighted Average Price per share of
Common Stock; provided further, that if the Reference Property consists solely of cash and such effective time shall occur on or before the third (3rd) Business Day after the last Trading Day in the Cash Settlement Averaging Period applicable to the conversion of a Security, then (I) in lieu of the consideration that is due upon such
conversion pursuant to Section 11.02 and Section 11.14, the consideration due upon such conversion shall consist of cash in an amount, per $1,000 principal amount of Securities being converted, equal to the product of
(1) the amount of cash paid per share of Common Stock pursuant to such reclassification, change, consolidation, merger, binding share exchange, sale, transfer, lease, conveyance or disposition and (2) the Conversion Rate in effect at the
close of business on the Conversion Date for such conversion (after giving effect to any increase in the Conversion Rate pursuant to Section 11.14); and (II) such consideration shall be paid by the Company no later than the third
(3rd) Business Day after the later of (1) such Conversion Date and (2) such effective date. If
holders of Common Stock shall have the opportunity to elect the form of consideration to receive pursuant to such reclassification, change, consolidation, merger, binding share exchange, sale, transfer, lease, conveyance or disposition, then the
Company shall make adequate provision to give Holders, treated as a single class, a reasonable opportunity to elect (the “Collective Election”) the form of such consideration for purposes of determining the composition of the
Reference Property referred to in the immediately preceding sentence, and once such election is made, such election shall apply to all Holders after the effective time of such reclassification, change, consolidation, merger, binding share exchange,
sale, transfer, lease, conveyance or disposition. The supplemental indenture referred to in the first sentence of this paragraph shall provide for adjustments of the 

  

 -46- 

 
Conversion Rate which shall be as nearly equivalent as may be practicable to the adjustments of the Conversion Rate provided for in this Article XI.
The foregoing, however, shall not in any way affect the right a Holder of a Security may otherwise have, pursuant to Section 11.05(c) or Section 11.13, to receive rights or warrants upon conversion of a Security. If, in the
case of any such consolidation, merger, binding share exchange, sale, transfer, lease, conveyance or disposition, the stock or other securities and property (including cash) receivable thereupon by a holder of Common Stock includes shares of stock
or other securities and property of a Person other than the successor or purchasing Person, as the case may be, in such consolidation, merger, binding share exchange, sale, transfer, lease, conveyance or disposition, then such supplemental indenture
shall also be executed by such other Person and shall contain such additional provisions to protect the interests of the Holders of the Securities as the Board of Directors in good faith shall reasonably determine necessary by reason of the
foregoing (which determination shall be described in a Board Resolution). The provisions of this Section 11.11 shall similarly apply to successive consolidations, mergers, binding share exchanges, sales, transfers, leases, conveyances or
dispositions. 
 In the event the Company shall execute a supplemental indenture pursuant to this Section 11.11,
the Company shall promptly file with the Trustee an Officers’ Certificate briefly stating the reasons therefor, the kind or amount of shares of stock or securities or property (including cash) receivable by Holders of the Securities upon the
conversion of their Securities after any such reclassification, change, consolidation, merger, binding share exchange, sale, transfer, lease, conveyance or disposition and any adjustment to be made with respect thereto. 
 The Company shall not become a party to any such reclassification, change, consolidation, merger, binding share exchange, sale, transfer,
lease, conveyance or disposition unless the terms thereof are consistent with this Section 11.11. 
  

	 11.12
	 TRUSTEE’S DISCLAIMER. 

 The Trustee has no duty to determine when an adjustment under this Article XI should be made, how it should be made or what such
adjustment should be, but may accept as conclusive evidence of the correctness of any such adjustment, and shall be protected in relying upon, the Officers’ Certificate with respect thereto which the Company is obligated to file with the
Trustee pursuant to Section 11.09 hereof. The Trustee makes no representation as to the validity or value of any securities or assets issued upon conversion of Securities, and the Trustee shall not be responsible for the failure by the
Company to comply with any provisions of this Article XI. 
 The Trustee shall not be under any responsibility to
determine the correctness of any provisions contained in any supplemental indenture executed pursuant to Section 11.11, but may accept as conclusive evidence of the correctness thereof, and shall be protected in relying upon, the
Officers’ Certificate with respect thereto which the Company is obligated to file with the Trustee pursuant to Section 11.11 hereof. 
  

 -47- 

	 11.13
	 RIGHTS DISTRIBUTIONS PURSUANT TO STOCKHOLDERS’ RIGHTS
PLANS. 

 Upon conversion of any Security or a portion thereof, the Company shall make
provision for the Holder thereof, to the extent such Holder is to receive shares of Common Stock upon such conversion, to receive, in addition to, and concurrently with the delivery of, the consideration otherwise payable hereunder upon such
conversion, the rights described in the Rights Agreement or any other stockholders’ rights plan the Company may have in effect at such time, unless such rights have separated from the Common Stock at the time of such conversion, in which case
the Conversion Rate shall be adjusted upon such separation in accordance with Section 11.05(c). 
 11.14    INCREASED CONVERSION RATE APPLICABLE TO CERTAIN NOTES SURRENDERED IN
CONNECTION WITH MAKE-WHOLE FUNDAMENTAL CHANGES. 
 (A)    Notwithstanding anything herein to the contrary, the Conversion Rate applicable to each Security that is surrendered for conversion, in accordance with this Article XI, at any time
during the period (the “Make-Whole Conversion Period”) that begins on, and includes, the date that is thirty (30) calendar days prior to the date originally announced by the Company as the anticipated effective date of a
Make-Whole Fundamental Change (which anticipated effective date the Company shall disclose, in good faith, in the written notice, public announcement and publication referred to in Section 11.14(E)) and ends on, and includes, the date
that is forty (40) Business Days after the actual effective date of such Make-Whole Fundamental Change (or, if such Make-Whole Fundamental Change also constitutes a Fundamental Change, the Fundamental Change Repurchase Date applicable to such
Fundamental Change) shall be increased to an amount equal to the Conversion Rate that would, but for this Section 11.14, otherwise apply to such Security pursuant to this Article XI, plus an amount equal to the Make-Whole
Applicable Increase; provided, however, that such increase to the Conversion Rate shall not apply if such Make-Whole Fundamental Change is announced by the Company but shall not be consummated. 
 The additional consideration payable hereunder on account of any Make-Whole Applicable Increase with respect to a Security surrendered
for conversion is herein referred to as the “Make-Whole Consideration.” For avoidance of doubt, the amount of the Make-Whole Consideration due upon the conversion of a Security shall be based on the Cash Settlement Averaging Period
and Volume-Weighted Average Prices applicable to such conversion pursuant to Section 11.02. 
 (B)    As used herein, “Make-Whole Applicable Increase” shall mean, with respect to a Make-Whole Fundamental Change, the amount, set forth in the following table, which corresponds to the effective date
of such Make-Whole Fundamental Change (the “Effective Date”) and the Applicable Price of such Make-Whole Fundamental Change: 
  

													
	 	  	Effective Date
	 Applicable Price
	  	July 10, 2007	  	July 15, 2008	  	July 15, 2009	  	July 15, 2010	  	July 15, 2011	  	July 15, 2012
	 $36.01
	  	6.8116	  	6.8116	  	6.8116	  	6.8116	  	6.8116	  	6.8116
	 $40.00
	  	6.0175	  	5.7739	  	5.4358	  	5.0276	  	4.4836	  	4.0415
	 $45.00
	  	4.8264	  	4.5281	  	4.1224	  	3.6057	  	2.8556	  	1.2637
	 $50.00
	  	3.9588	  	3.6366	  	3.2047	  	2.6468	  	1.8266	  	—  

  

 -48- 

													
	 $ 55.00
	  	3.3099	  	2.9825	  	2.5494	  	1.9909	  	1.1847	  	—  
	 $60.00
	  	2.8134	  	2.4917	  	2.0718	  	1.5357	  	0.7875	  	—  
	 $65.00
	  	2.4258	  	2.1162	  	1.7171	  	1.2149	  	0.5424	  	—  
	 $70.00
	  	2.1177	  	1.8234	  	1.4489	  	0.9851	  	0.3908	  	—  
	 $75.00
	  	1.8688	  	1.5914	  	1.2424	  	0.8178	  	0.2960	  	—  
	 $80.00
	  	1.6648	  	1.4046	  	1.0809	  	0.6936	  	0.2357	  	—  
	 $85.00
	  	1.4954	  	1.2521	  	0.9525	  	0.5997	  	0.1964	  	—  
	 $90.00
	  	1.3529	  	1.1258	  	0.8488	  	0.5273	  	0.1697	  	—  
	 $95.00
	  	1.2319	  	1.0201	  	0.7638	  	0.4703	  	0.1509	  	—  
	 $100.00
	  	1.1279	  	0.9304	  	0.6932	  	0.4247	  	0.1369	  	—  
	 $105.00
	  	1.0379	  	0.8536	  	0.6338	  	0.3873	  	0.1261	  	—  

 provided, however, that: 
 (i)    if the actual Applicable Price of such Make-Whole Fundamental Change is between two
(2) prices listed in the table above under the column titled “Applicable Price,” or if the actual Effective Date of such Make-Whole Fundamental Change is between two dates listed in the table above in the row immediately below the
title “Effective Date,” then the Make-Whole Applicable Increase for such Make-Whole Fundamental Change shall be determined by linear interpolation between the Make-Whole Applicable Increases set forth for such two prices, or for such two
dates based on a three hundred and sixty five (365) day year, as applicable; 
 (ii)    if the actual Applicable Price of such Make-Whole Fundamental Change is greater than $105.00 per share (subject to adjustment as provided in Section 11.14(B)(iii)), or if the actual Applicable Price
of such Make-Whole Fundamental Change is less than $36.01 per share (subject to adjustment as provided in Section 11.14(B)(iii)), then the Make-Whole Applicable Increase shall be equal to zero (0); 
 (iii)    if an event occurs that requires, pursuant to this Article XI (other than solely
pursuant to this Section 11.14), an adjustment to the Conversion Rate, then, on the date and at the time such adjustment is so required to be made, (A) each price set forth in the table above under the column titled “Applicable
Price” shall be deemed to be adjusted so that such price, at and after such time, shall be equal to the product of (1) such price as in effect immediately before such adjustment to such price and (2) a fraction whose numerator is the
Conversion Rate in effect immediately before such adjustment to the Conversion Rate and whose denominator is the Conversion Rate to be in effect, in accordance with this Article XI, immediately after such adjustment to the Conversion Rate;
and (B) each Make-Whole Applicable Increase amount set forth in the table above shall be deemed to be adjusted so that such Make-Whole Applicable Increase, at and after such time, shall be equal to the product of (1) such Make-Whole
Applicable Increase as in effect immediately before such adjustment to such Make-Whole Applicable Increase and (2) a fraction whose numerator is the Conversion Rate to be in effect, in accordance with this Article XI, immediately after
such adjustment to the Conversion Rate and whose denominator is the Conversion Rate in effect immediately before such adjustment to the Conversion Rate; and 
 (iv)    in no event shall the Conversion Rate applicable to any Security be increased pursuant to this Section 11.14 to the extent, but only to the extent, such

  

 -49- 

 
increase shall cause the Conversion Rate applicable to such Security to exceed 27.7701 shares per $1,000 principal amount (the “BCF Make-Whole
Cap”); provided, however, that the BCF Make-Whole Cap shall be adjusted in the same manner in which, and for the same events for which, the Conversion Rate is to be adjusted pursuant to this Article XI. 
 (C)    As used herein, “Applicable Price” shall have the following meaning with respect to a
Make-Whole Fundamental Change: (a) if such Make-Whole Fundamental Change constitutes a Common Stock Change Make-Whole Fundamental Change and the consideration (excluding cash payments for fractional shares or pursuant to statutory appraisal
rights) for the Common Stock in such Make-Whole Fundamental Change consists solely of cash, then the “Applicable Price” with respect to such Make-Whole Fundamental Change shall be equal to the cash amount paid per share of Common Stock in
such Make-Whole Fundamental Change; (b) if such Make-Whole Fundamental Change constitutes an Asset Sale Make-Whole Fundamental Change and the consideration paid for the property and assets of the Company or the Subsidiaries consists solely of
cash, then the “Applicable Price” with respect to such Make-Whole Fundamental Change shall be equal to the cash amount paid for the property and assets of the Company, expressed as an amount per share of Common Stock outstanding on the
Effective Date of such Make-Whole Fundamental Change; and (c) in all other circumstances, the “Applicable Price” with respect to such Make-Whole Fundamental Change shall be equal to the average of the Closing Sale Prices per share of
Common Stock for the five (5) consecutive Trading Days immediately preceding the Effective Date of such Make-Whole Fundamental Change, which average shall be appropriately adjusted by the Board of Directors, in its good faith determination
(which determination shall be described in a Board Resolution), to account for any adjustment, pursuant hereto, to the Conversion Rate that shall become effective, or any event requiring, pursuant hereto, an adjustment to the Conversion Rate where
the Ex Date of such event occurs, at any time during such five (5) consecutive Trading Days. 
 (D)    The Make-Whole Consideration due upon a conversion of a Security by a Holder shall be paid as soon as practicable after the Conversion Date of such conversion, but in no event later than the third
(3rd) Business Day after the later of (1) the date such Holder surrenders such Security for such conversion; (2) the last Trading Day in the applicable Cash Settlement Averaging Period; and (3) the Effective Date of the
applicable Make-Whole Fundamental Change. The consideration in which the Make-Whole Consideration is payable shall be determined in accordance herewith, including, without limitation, in accordance with Section 11.02 and, to the extent
applicable, Section 11.11. 
 (E)    At least thirty (30) calendar days before the
anticipated effective date of each proposed Make-Whole Fundamental Change, the Company shall mail to each Holder, in accordance with Section 1.6 of the Base Indenture, written notice of, and shall publicly announce, through a reputable national
newswire service, and publish on the Company’s website, the anticipated effective date of such proposed Make-Whole Fundamental Change. Each such notice, announcement and publication shall also state that, in connection with such Make-Whole
Fundamental Change, the Company shall increase, in accordance herewith, the Conversion Rate applicable to Securities entitled as provided herein to such increase (along with a description of how such increase shall be calculated and the time periods
during which Securities must be surrendered in order to be entitled to such increase). No later than the third 

  

 -50- 

 
Business Day after the Effective Date of each Make-Whole Fundamental Change, the Company shall mail to Holders, in accordance with Section 1.6 of the
Base Indenture, written notice of, and shall publicly announce, through a reputable national newswire service, and publish on the Company’s website, such Effective Date and the Make-Whole Applicable Increase applicable to such Make-Whole
Fundamental Change. 
 (F)    For avoidance of doubt, the provisions of this Section 11.14
shall not affect or diminish the Company’s obligations, if any, pursuant to Article IV with respect to a Make-Whole Fundamental Change. 
 (G)    Nothing in this Section 11.14 shall prevent an adjustment to the Conversion Rate pursuant to Section 11.05 in respect of a Make-Whole Fundamental Change. 

XII.    MISCELLANEOUS 
  

	 12.01
	 TRUST INDENTURE ACT CONTROLS. 

 If any provision of this Indenture limits, qualifies or conflicts with another provision which is required to be included in this
Supplemental Indenture by the TIA, the required provision of the TIA shall control. 
  

	 12.02
	 DUPLICATE ORIGINALS. 

 The parties may sign any number of copies of this Supplemental Indenture. Each signed copy shall be an original, but all of them together represent the same agreement. Delivery of an executed
counterpart by facsimile shall be effective as delivery of a manually executed counterpart thereof. 
  

	 12.03
	 GOVERNING LAW. 

 The laws of the State of New York, without regard to principles of conflicts of law, shall govern this Supplemental Indenture and the Securities. 
  

	 12.04
	 NO ADVERSE INTERPRETATION OF OTHER AGREEMENTS.

 This Supplemental Indenture and the Base Indenture may not be used to interpret another indenture, loan
or debt agreement of the Company or any of its Subsidiaries. Any such indenture, loan or debt agreement may not be used to interpret this Supplemental Indenture or the Base Indenture. 
  

	 12.05
	 SUCCESSORS. 

 All agreements of the Company in this Supplemental Indenture and the Securities shall bind its successors. All agreements of the Trustee in this Supplemental Indenture shall bind its successors. 
  

 -51- 

	 12.06
	 SEPARABILITY. 

 In case any provision in this Supplemental Indenture, the Base Indenture or the Securities shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in
any way be affected or impaired thereby and a Holder shall have no claim therefor against any party hereto. 
  

	 12.07
	 TABLE OF CONTENTS, HEADINGS, ETC. 

 The Table of Contents and headings of the Articles and Sections of this Supplemental Indenture have been inserted for convenience of
reference only, are not to be considered a part of this Supplemental Indenture or the Base Indenture and shall in no way modify or restrict any of the terms or provisions of this Supplemental Indenture or the Base Indenture. 
  

	 12.08
	 CALCULATIONS IN RESPECT OF THE SECURITIES.

 The Company and its agents (including, without limitation, the Bid Solicitation Agent, with respect to
the calculations required in Section 11.01) shall make all calculations under this Indenture and the Securities in good faith. In the absence of manifest error, such calculations shall be final and binding on all Holders. The Company shall
provide a copy of such calculations to the Trustee as required hereunder, and, absent such manifest error, the Trustee shall be entitled to rely on the accuracy of any such calculation without independent verification. The Trustee shall not be
responsible for making any calculations required by the Indenture. 
 [The Remainder of This Page Intentionally Left Blank;
Signature Page Follows] 
  

 -52- 

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

			
	 KENDLE INTERNATIONAL INC.

		
	 By:
	 	 /s/ Karl Brenkert III

		 	 Name: Karl Brenkert III

		 	 Title: Chief Financial Officer

	
	 LASALLE BANK NATIONAL ASSOCIATION, AS
TRUSTEE

		
	 By:
	 	 /s/ Margaret Muir

		 	 Name: Margaret Muir

		 	 Title: Vice President

 EXHIBIT A 
 [Face of Security] 
 KENDLE INTERNATIONAL INC. 
 Certificate No. _______ 
 [INSERT GLOBAL
SECURITY LEGEND AS REQUIRED] 
 3.375% Convertible Senior Note due 2012 
 CUSIP No. ____________ 
 Kendle International Inc., an Ohio corporation
(the “Company”), for value received, hereby promises to pay to Cede & Co., or its registered assigns, the principal sum of _____________________ dollars ($__________) on July 15, 2012 and to pay interest thereon, as
provided on the reverse hereof, until the principal and any unpaid and accrued interest are paid or duly provided for. 
 Interest Payment Dates: July 15 and January 15, with the first payment to be made on January 15, 2008. 
 Regular Record Dates: July 1 and January 1. 
 The provisions on the back of this certificate are
incorporated as if set forth on the face hereof. 
 IN WITNESS WHEREOF, Kendle International Inc. has caused this
instrument to be duly signed. 
  

			
	 KENDLE INTERNATIONAL INC.

		
	 By:
	 	  
		 	 Name:

		 	 Title:

 Dated: ________________ 
  

 A-1 

			
	 TRUSTEE’S CERTIFICATE OF AUTHENTICATION

	
	 This is one of the Securities of the series designated
 therein referred to in the within-mentioned Indenture.

	
	 LASALLE BANK NATIONAL ASSOCIATION, as Trustee

		
	 By:
	 	  
		 	Authorized Signatory
	
	 Dated: _________________

  

 A-2 

 [REVERSE OF SECURITY] 
 KENDLE INTERNATIONAL INC. 
 3.375% Convertible Senior Note due 2012 
 1.    Interest. Kendle International Inc., an Ohio corporation (the “Company”), promises to
pay interest on the principal amount of this Security at the rate per annum shown above. The Company will pay interest, payable semi-annually in arrears, on July 15 and January 15 of each year, with the first payment to be made on
January 15, 2008. Interest on the Securities will accrue on the principal amount from, and including, the most recent date to which interest has been paid or provided for or, if no interest has been paid, from, and including, July 16,
2007, in each case to, but excluding, the next interest payment date or Maturity Date, as the case may be. Interest will be computed on the basis of a 360-day year of twelve 30-day months. 
 2.    Maturity. The Securities will mature on July 15, 2012. 
 3.    Method of Payment. Except as provided in the Indenture (as defined below), the Company will pay interest
on the Securities to the persons who are Holders of record of Securities at the close of business on the record date set forth on the face of this Security next preceding the applicable interest payment date. Holders must surrender Securities to a
Paying Agent to collect the principal amount or Fundamental Change Repurchase Price of the Securities, plus, if applicable, accrued and unpaid interest, if any, payable as herein provided upon Repurchase Upon Fundamental Change, as the case may be.
The Company will pay, in money of the United States that at the time of payment is legal tender for payment of public and private debts, all amounts due in cash with respect to the Securities, which amounts shall be paid (A) in the case this
Security is in global form, by wire transfer of immediately available funds to the account designated by the Depository for the Securities or its nominee; (B) in the case of a Security that is held, other than global form, by a Holder of more
than five million dollars ($5,000,000) in aggregate principal amount of Securities, by wire transfer of immediately available funds to the account specified by such Holder or, if such Holder does not specify an account, by mailing a check to the
address of such Holder set forth in the register of the Registrar; and (C) in the case of a Security that is held, other than global form, by a Holder of five million dollars ($5,000,000) or less in aggregate principal amount of Securities, by
mailing a check to the address of such Holder set forth in the register of the Registrar. 
 4.    Paying Agent, Registrar, Conversion Agent. Initially, LaSalle Bank National Association (the “Trustee”) will act as Paying Agent, Registrar, Bid Solicitation Agent and Conversion Agent. The
Company may change any Paying Agent, Registrar, Bid Solicitation Agent or Conversion Agent without notice. 
 5.    Indenture. The Company issued the Securities under an indenture dated as of March 21, 2007 (the “Base Indenture”) between the Company and the Trustee, as amended, supplemented or
otherwise modified by the Supplemental Indenture No. 1 (the “Supplemental Indenture”), dated as of July 16, 2007, between the Company and the Trustee (the Base Indenture, as amended, supplemented or otherwise modified by
the Supplemental Indenture, the “Indenture”). The terms of the Securities include those stated in the Indenture and those made 

  

 A-3 

 
part of the Indenture by reference to the Trust Indenture Act of 1939 (15 U.S. Code §§ 77aaa-77bbbb) (the “TIA”) as amended and in
effect from time to time. The Securities are subject to all such terms, and Holders are referred to the Indenture and the TIA for a statement of such terms. The Securities are general unsecured senior obligations of the Company limited to
$175,000,000 aggregate principal amount ($200,000,000 if the Underwriter has elected to exercise in full the Option to purchase up to an additional $25,000,000 aggregate principal amount of the Securities), except as otherwise provided in the
Indenture (except for Securities issued in substitution for destroyed, mutilated, lost or stolen Securities). Terms used herein without definition and which are defined in the Indenture have the meanings assigned to them in the Indenture.

 6.    No Redemption at the Company’s Option. 
 The Securities are not subject to redemption at the Company’s option, and Article 11 of the Base Indenture shall not apply to the
Securities. 
 7.    Repurchase at Option of Holder Upon a Fundamental Change. Subject to the
terms and conditions of the Indenture, in the event of a Fundamental Change, each Holder of the Securities shall have the right, at the Holder’s option, to require the Company to repurchase such Holder’s Securities including any portion
thereof which is $1,000 in principal amount or any integral multiple thereof on a date selected by the Company (the “Fundamental Change Repurchase Date”), which date is no later than thirty five (35) days, nor earlier than
twenty (20) days, after the date on which notice of such Fundamental Change is mailed in accordance with the Indenture, at a price payable in cash equal to one hundred percent (100%) of the principal amount of such Security, plus accrued
and unpaid interest to, but excluding, the Fundamental Change Repurchase Date; provided, however, that if such Fundamental Change Repurchase Date is after a record date for the payment of an installment of interest and on or before the
related interest payment date, then the accrued and unpaid interest, if any, to, but excluding, such interest payment date will be paid on such interest payment date to the Holder of record of such Securities at the close of business on such record
date, and the Holder surrendering such Securities for repurchase will not be entitled to any such accrued and unpaid interest unless such Holder was also the Holder of record of such Securities at the close of business on such record date.

 8.    Conversion. 
 Conversion Based on Closing Sale Price of Common Stock. The Securities may be surrendered for conversion on any Business Day of a calendar quarter after the calendar quarter ending
June 30, 2007, if the Closing Sale Price for each of twenty (20) or more Trading Days in a period of thirty (30) consecutive Trading Days ending on the last Trading Day of the immediately preceding calendar quarter exceeds one hundred
and thirty percent (130%) of the Conversion Price in effect on the last Trading Day of the immediately preceding calendar quarter. Solely for purposes of determining whether the Securities shall have become convertible pursuant to this
paragraph, the Board of Directors shall, in its good faith determination, which shall be described in a Board Resolution, make appropriate adjustments to the Closing Sale Prices and/or such Conversion Price used to determine whether the Securities
shall have become convertible pursuant to this paragraph to account for any adjustments to the 

  

 A-4 

 
Conversion Rate which shall have become effective, or any event requiring an adjustment to the Conversion Rate where the Ex Date of such event occurs, during
the period of thirty (30) consecutive Trading Days ending on the last Trading Day of the immediately preceding calendar quarter. 
 Conversion Upon Satisfaction of Trading Price Condition. The Securities may be surrendered for conversion during the five (5) consecutive Business Days immediately after any five (5) consecutive
Trading Day period (such five (5) consecutive Trading Day period, the “Note Measurement Period”) in which the average Trading Price per $1,000 principal amount of the Securities was equal to or less than ninety seven percent
(97%) of the average Conversion Value per $1,000 principal amount of Securities (as defined below) during the Note Measurement Period (such condition, the “Trading Price Condition”). The Bid Solicitation Agent shall not have
any obligation to determine the Trading Price unless the Company has requested such determination, and the Company shall have no obligation to make such request unless a Holder of at least one million dollars ($1,000,000) in aggregate principal
amount of Securities provides the Company with reasonable evidence that the Trading Price per $1,000 principal amount of the Securities would be equal to or less than ninety seven percent (97%) of the product of the Closing Sale Price and the
Conversion Rate. Upon receipt of such evidence, the Company shall instruct the Bid Solicitation Agent to determine the Trading Price per $1,000 principal amount of the Securities for each of the five (5) successive Trading Days immediately
after the Company receives such evidence and on each Trading Day thereafter until the first Trading Day on which the Trading Price Condition is no longer satisfied. For purposes of this paragraph, the “Conversion Value” per $1,000
principal amount of Securities, on a given Trading Day, means the product of the Closing Sale Price on such Trading Day and the Conversion Rate in effect on such Trading Day. 
 Conversion Upon Certain Distributions. If the Company takes any action, or becomes aware of any event, that would require an adjustment to the Conversion Rate pursuant to Sections
11.05(b), 11.05(c), 11.05(d) or 11.05(e) of the Supplemental Indenture, the Securities may be surrendered for conversion beginning on the date the Company mails the notice to the Holders as provided in Section 11.10 of the
Supplemental Indenture (or, if earlier, the date the Company is required to mail such notice) and at any time thereafter until the close of business on the Business Day immediately preceding the Ex Date of the applicable transaction or until the
Company announces that such transaction will not take place. 
 Conversion Upon Occurrence of Certain Corporate
Transactions. If either: 
 (i)     a Fundamental Change occurs; or 
 (ii)     the Company is a party to a consolidation, merger or binding share exchange pursuant to which the
Common Stock would be converted into or exchanged for, or would constitute solely the right to receive, cash or other securities or property, 
 then, in each case, the Securities may be surrendered for conversion at any time during the period that begins on, and includes, the date that is thirty (30) calendar days prior to the date originally announced by the Company as the
anticipated effective date of such transaction (which anticipated effective date the Company shall disclose, in good faith, in the written notice, public 

  

 A-5 

 
announcement and publication referred to in Section 11.01(D) of the Supplemental Indenture) and ends on, and includes, the date that is thirty
(30) calendar days after the actual effective date of such transaction; provided, however, that if such transaction is a Make-Whole Fundamental Change, then the Securities may also be surrendered for conversion at any time during
the Make-Whole Conversion Period applicable to such Make-Whole Fundamental Change; provided, further, that if such transaction is a Fundamental Change, then the Securities may also be surrendered for conversion at any time until, and
including, the Fundamental Change Repurchase Date applicable to such Fundamental Change. 
 Conversion during Specified
Periods. The Securities may be surrendered for conversion at any time from, and including, January 1, 2012 until the close of business of the second (2nd) business day immediately preceding July 15, 2012. 
 Notwithstanding anything herein to the contrary, the right to convert the Securities pursuant to Article XI of the Supplemental
Indenture shall terminate at the close of business on the Business Day immediately preceding the Maturity Date. 
 To
convert a Security, a Holder must (1) complete and sign the Conversion Notice, with appropriate signature guarantee, on the back of the Security, (2) surrender the Security to a Conversion Agent, (3) furnish appropriate endorsements
and transfer documents if required by the Registrar or Conversion Agent, (4) pay the amount of interest, if any, the Holder must pay in accordance with the Indenture and (5) pay any tax or duty if required pursuant to the Indenture. A
Holder may convert a portion of a Security if the portion is $1,000 principal amount or an integral multiple of $1,000 principal amount. 
 If a Security is tendered for conversion in accordance with the Indenture, then the Holder of such Security shall be entitled to receive cash and, if applicable, shares of Common Stock in accordance with
Section 11.02(A) of the Supplemental Indenture. 
 The initial Conversion Rate is 20.9585 shares of Common Stock
per $1,000 principal amount of Securities (which results in an effective initial Conversion Price of approximately $47.71 per share) subject to adjustment in the event of certain circumstances as specified in the Indenture. The Company will deliver
a check in lieu of any fractional share. On conversion, no payment or adjustment for any unpaid and accrued interest on the Securities will be made. If any Holder surrenders a Security for conversion after the close of business on the record date
for the payment of an installment of interest and prior to the related interest payment date, then, notwithstanding such conversion, the interest payable with respect to such Security on such interest payment date shall be paid on such interest
payment date to the Holder of record of such Security at the close of business on such record date; provided, however, that such Security, when surrendered for conversion, must be accompanied by payment to the Conversion Agent on behalf of
the Company of an amount equal to the interest payable on such interest payment date on the portion so converted unless either (i) the Company shall have, in respect of a Fundamental Change, specified a Fundamental Change Repurchase Date which
is after such record date and on or before such interest payment date; or (ii) such Security is surrendered for conversion after the close of business on the record date immediately preceding the Maturity Date; provided further, however,
that, if the Company shall have, prior to the Conversion Date with respect to a Security, defaulted in a payment of interest on such Security, then in no event shall the Holder of 

  

 A-6 

 
such Security who surrenders such Security for conversion be required to pay such defaulted interest or the interest that shall have accrued on such
defaulted interest pursuant to Section 2.09 of the Supplemental Indenture or otherwise (it being understood that nothing in paragraph shall affect the Company’s obligations under Section 2.09 of the Supplemental
Indenture). 
 The Conversion Rate applicable to each Security that is surrendered for conversion, in accordance with the
Securities and Article XI of the Supplemental Indenture, at any time during the Make-Whole Conversion Period with respect to a Make-Whole Fundamental Change shall be increased to an amount equal to the Conversion Rate that would, but for
Section 11.14 of the Supplemental Indenture, otherwise apply to such Security pursuant to Article XI of the Supplemental Indenture, plus an amount equal to the Make-Whole Applicable Increase; provided, however, that
such increase to the Conversion Rate shall not apply if such Make-Whole Fundamental Change is announced by the Company but shall not be consummated. 
 9.    Denominations, Transfer, Exchange. The Securities are in registered form, without coupons, in denominations of $1,000 principal amount and integral multiples of $1,000 principal
amount. The transfer of Securities may be registered and Securities may be exchanged as provided in the Indenture. The Registrar may require a Holder, among other things, to furnish appropriate endorsements and transfer documents. No service charge
shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or similar governmental charge that may be imposed in connection with certain transfers or exchanges. The
Company or the Trustee, as the case may be, shall not be required to register the transfer of or exchange any Security for which a Purchase Notice has been delivered, and not withdrawn, in accordance with the Indenture, except the unrepurchased
portion of Securities being repurchased in part. 
 10.    Persons Deemed Owners. The registered
Holder of a Security may be treated as the owner of such Security for all purposes. 
 11.    Merger
or Consolidation. The Company shall not consolidate with, or merge with or into, or sell, transfer, lease, convey or otherwise dispose of all or substantially all of the Company’s property or assets to, another person, whether in a single
transaction or series of related transactions, unless (i) such other person is an entity organized and existing under the laws of the United States, any State thereof or the District of Columbia; (ii) such person assumes by supplemental
indenture all the obligations of the Company under the Securities and the Indenture; and (iii) immediately after giving effect to the transaction, no Default or Event of Default shall exist; provided, however, that the foregoing
shall not prohibit the Company from consolidating with or merging with or into an entity that is organized and existing under the laws of a foreign jurisdiction, provided (A) clauses (ii) and (iii) above are satisfied;
(B) such entity has common stock that is directly (and not through American Depositary Receipts) listed on a U.S. national securities exchange; (C) as a result of such consolidation or merger, the Securities become convertible solely into
shares of such common stock (excluding any Principal Return that is payable in cash and cash payments for fractional shares); (D) such common stock has an average daily trading volume of a least ten million dollars ($10,000,000) during the six
(6) months immediately preceding the announcement of such consolidation or merger; (E) such entity has consented to service of process in the United States; (F) immediately prior to the announcement of such consolidation or merger,
such entity’s market capitalization was at least 

  

 A-7 

 
one billion dollars ($1,000,000,000); (G) there will be no material adverse tax consequences to record holders or beneficial owners of the Securities,
or of the underlying common stock, resulting from such consolidation or merger, and the Company has obtained and delivered to the Trustee an opinion of tax counsel experienced in such matters to that effect; and (H) such entity agrees in a
supplemental indenture that, in the event that any cash dividends on such common stock paid to U.S. or Swiss Persons are subject to tax withholding, such entity will also pay, to such U.S. or Swiss Persons, an amount in cash such that the net cash
amount received by such Persons would be equal to the amount of cash such Persons would have received on account of such dividend if no such tax withholding applied. A consolidation or merger made pursuant to, and in accordance with, the proviso to
the immediately preceding sentence is herein referred to as a “Qualified Foreign Business Combination.” 
 12.    Amendments, Supplements and Waivers. Subject to certain exceptions, the Indenture or the Securities may be amended or supplemented with the consent of the Holders of at least a majority in aggregate
principal amount of the outstanding Securities, and certain existing Defaults or Events of Default may be waived with the consent of the Holders of a majority in aggregate principal amount of the Securities then outstanding. In accordance with the
terms of the Indenture, the Company, with the consent of the Trustee, may amend or supplement the Indenture or the Securities without notice to or the consent of any Securityholder: (i) to comply with Sections 5.01 and 11.11 of
the Supplemental Indenture; (ii) to secure the obligations of the Company in respect of the Securities; (iii) to add to the covenants of the Company described in the Indenture for the benefit of Securityholders or to surrender any right or
power conferred upon the Company; and (iv) to make provisions with respect to adjustments to the Conversion Rate as required by the Indenture or to increase the Conversion Rate in accordance with the Indenture. In addition, the Company and the
Trustee may enter into a supplemental indenture without the consent of Holders of the Securities to (i) cure any ambiguity, defect, omission or inconsistency in the Indenture in a manner that does not, individually or in the aggregate with all
other modifications made or to be made to the Indenture, adversely affect the rights of any Holder; or (ii) conform the Indenture to the description of the Securities contained in the Prospectus Supplement of the Company, dated July 10,
2007 and filed with the SEC on July 12, 2007 (File No. 333-141475). 
 13.    Defaults and
Remedies. 
   If an Event of Default (excluding an Event of Default specified in Section 6.01(viii)
or (ix) of the Supplemental Indenture with respect to the Company (but including an Event of Default specified in Section 6.01(viii) or (ix) of the Supplemental Indenture solely with respect to a Significant
Subsidiary of the Company or any group of Subsidiaries that in the aggregate would constitute a Significant Subsidiary of the Company)) occurs and is continuing, the Trustee by notice to the Company or the Holders of at least twenty five percent
(25%) in principal amount of the Securities then outstanding by notice to the Company and the Trustee may declare the Securities to be due and payable. Upon such declaration, the principal of, and any premium and accrued and unpaid interest on,
all Securities shall be due and payable immediately. If an Event of Default specified in Section 6.01(viii) or (ix) of the Supplemental Indenture with respect to the Company (excluding, for purposes of this sentence, an Event
of Default specified in Section 6.01(viii) or (ix) of the Supplemental Indenture solely with respect to a Significant Subsidiary of the Company or any group of Subsidiaries that in the aggregate 

  

 A-8 

 
would constitute a Significant Subsidiary of the Company) occurs, the principal of, and premium and accrued and unpaid interest on, all the Securities shall
ipso facto become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holder. The Holders of a majority in aggregate principal amount of the Securities then outstanding by written notice
to the Trustee may rescind or annul an acceleration and its consequences if (A) the rescission would not conflict with any order or decree, (B) all existing Events of Default, except the nonpayment of principal or interest that has become
due solely because of the acceleration, have been cured or waived and (C) all amounts due to the Trustee under Section 6.6 of the Base Indenture have been paid. 
   Holders may not enforce the Indenture or the Securities except as provided in the Indenture. The Trustee may require indemnity reasonably satisfactory to it before it enforces the
Indenture or the Securities. The Holders of a majority in aggregate principal amount of the Securities then outstanding may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or exercising any
trust or power conferred on it. However, the Trustee may refuse to follow any direction that conflicts with law or the Indenture, is unduly prejudicial to the rights of other Holders or would involve the Trustee in personal liability unless the
Trustee is offered indemnity reasonably satisfactory to it; provided, that the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction. 
   If a Default or Event of Default occurs and is continuing as to which the Trustee has received notice pursuant to the
provisions of the Indenture, or as to which a Responsible Officer of the Trustee shall have actual knowledge, the Trustee shall mail to each Holder a notice of the Default or Event of Default within thirty (30) days after it occurs unless such
Default or Event of Default has been cured or waived. Except in the case of a Default or Event of Default in payment of any amounts due with respect to any Security, the Trustee may withhold the notice if, and so long as it in good faith determines
that, withholding the notice is in the best interests of Holders. The Company must deliver to the Trustee an annual compliance certificate. 
 14.    Trustee Dealings with the Company. The Trustee under the Indenture, or any banking institution serving as successor Trustee thereunder, in its individual or any other capacity, may
make loans to, accept deposits from, and perform services for, the Company or its Affiliates, and may otherwise deal with the Company or its Affiliates, as if it were not Trustee. 
 15.    No Recourse Against Others. No past, present or future director, officer, employee or stockholder, as
such, of the Company shall have any liability for any obligations of the Company under the Securities or the Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder, by accepting a
Security, waives and releases all such liability. The waiver and release are part of the consideration for the issue of the Securities. 
 16.    Authentication. This Security shall not be valid until authenticated by the manual signature of the Trustee or an authenticating agent in accordance with the Indenture. 
 17.    Abbreviations. Customary abbreviations may be used in the name of a Holder or an assignee, such as: TEN
COM (= tenants in common), TEN ENT (= tenants by the entirety), 

  

 A-9 

 
JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (Uniform Gifts to Minors Act). 

THE COMPANY WILL FURNISH TO ANY HOLDER UPON WRITTEN REQUEST AND WITHOUT CHARGE A COPY OF THE BASE INDENTURE OR THE SUPPLEMENTAL
INDENTURE. REQUESTS MAY BE MADE TO: 
 Kendle International Inc. 
 Attention: Office of General Counsel 
 1200 Carew Tower 
 441 Vine Street 
 Cincinnati, Ohio 45202

  

 A-10 

 [FORM OF ASSIGNMENT] 
 I or we assign to 
 PLEASE INSERT SOCIAL SECURITY OR 
 OTHER IDENTIFYING NUMBER 
  

			
	  	 	
	
	  
	 (please print or type name and address)

	
	  
	
	  
	
	 the within Security and all rights thereunder, and hereby irrevocably constitute and appoint

	
	  

 Attorney to transfer the Security on the books of the Company with full power of substitution in
the premises. 
  

							
	 Dated:
	 	  	 		 	  
				
		 		 		 	 NOTICE: The signature on this assignment must correspond with the name as it appears upon the face of the within Security in every particular without alteration or
enlargement or any change whatsoever and be guaranteed by a guarantor institution participating in the Securities Transfer Agents Medallion Program or in such other guarantee program acceptable to the Trustee.

					
			
	 Signature Guarantee:
	 	  	 	

  

 A-11 

 CONVERSION NOTICE 
 To convert this Security in accordance with the Indenture, check the box:  ̈ 
 To convert only part of this
Security, state the principal amount to be converted (must be in multiples of $1,000): 
 $__________________ 
 If you want the stock certificate representing the shares of Common Stock, if any, issuable upon conversion made out in another person’s name, fill
in the form below: 
  

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

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

	
	  

  

									
	 Date:
	 	  	 		 	 Signature(s):
	 	  
					
		 		 		 		 	  
		 		 		 		 	 (Sign exactly as your name(s) appear(s) on the other side of this Security)

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

  

 A-12 

 PURCHASE NOTICE 
 Certificate No. of Security: ___________ 
 If you want to elect to have this Security
purchased by the Company pursuant to Section 3.02 of the Supplemental Indenture, check the box:   ̈ 
 If you want to elect to have only part of this Security purchased by the Company pursuant to Section 3.02 of the Supplemental Indenture, as applicable, state the principal amount to be so purchased by the
Company: 
 $ __________________________________ 
 (in an integral multiple of $1,000) 
  

									
	 Date:
	 	  	 		 	 Signature(s):
	 	  
				
		 		 		 	  
		 		 		 	 (Sign exactly as your name(s) appear(s) on the other
 side of this Security)

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

  

 A-13 

 SCHEDULE A 
 SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL SECURITY1 
 The following exchanges of a part of this Global Security for an interest in another Global Security or for Securities in certificated
form, have been made: 
  

									
	 Date of Exchange
	  	Amount of decrease
in Principal amount
of this Global
Security	  	Amount of Increase
in Principal amount
of this Global
Security	  	 Principal amount of
this Global
 Security following
 such decrease
 or increase
	  	Signature or
authorized signatory
of Trustee or Note
Custodian

  

	 1
	 This is included in Global Securities only. 

  

 A-14 

 EXHIBIT B 
 FORM OF LEGEND FOR GLOBAL SECURITY 
 Any Global Security authenticated and delivered
hereunder shall bear a legend in substantially the following form: 
 THIS SECURITY IS A GLOBAL SECURITY
WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE OF A DEPOSITARY OR A SUCCESSOR DEPOSITARY. THIS SECURITY IS NOT EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF A PERSON
OTHER THAN THE DEPOSITARY OR ITS NOMINEE EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE, AND NO TRANSFER OF THIS SECURITY (OTHER THAN A TRANSFER OF THIS SECURITY AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A
NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY) MAY BE REGISTERED EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. 
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION (“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 TRANSFERS OF THIS
GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF CEDE & CO. OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS
MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE. 
  

 B-1

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