Document:

EX-10.1

 EXHIBIT 10.1 

EXECUTION VERSION 

AMENDMENT NO. 1 
 TO 

AXA NOTE 
 This AMENDMENT NO. 1
TO AXA NOTE (this “Amendment”) is entered into as of February 25, 2021, by and among GENWORTH FINANCIAL, INC., a Delaware corporation (“GFI”), GENWORTH FINANCIAL INTERNATIONAL HOLDINGS, LLC, a Delaware limited
liability company (“GFIH” and, together with GFI, the “Issuers” and each, an “Issuer”), and AXA SA (“AXA” or the “Holder”). Capitalized terms used herein but not
otherwise defined herein shall have the meaning given such terms in the Amended AXA Note (as defined below). 
 W I T
N E S S E T H 
 WHEREAS, reference is hereby made to that certain Secured Promissory Note,
dated as of July 20, 2020 (as amended, restated, amended and restated, supplemented, or otherwise modified from time to time prior to the Amendment Effective Date, the “AXA Note”), made by the Issuers, payable to the order of
Holder in an initial aggregate principal amount of Three Hundred and Seventeen Million Pounds Sterling (£317,000,000), as such amount may be increased and/or adjusted pursuant to the terms thereof; 

WHEREAS, the Issuers have advised the Holder of their intention to enter into that certain Block Trade Sale Agreement (the “Sale
Agreement”) in form and substance satisfactory to the Holder (it being acknowledged and agreed that any such agreement in substantially the form provided to, and to the extent approved by, the Holder prior to the date hereof shall be deemed
satisfactory to the Holder), anticipated to be dated on or about March 1, 2021, with Goldman Sachs Australia Pty Ltd (ACN 006 797 897) (“Goldman”), pursuant to which GFIH and Genworth Holdings, Inc., a Delaware corporation
(“GHI”, and together with GFIH, the “Sellers” and each, a “Seller”) will appoint Goldman to effect the sale of all of the GMA.AX Owned Shares (including, for the avoidance of doubt, the GMA.AX
Pledged Shares) to third-party purchasers for an agreed sale price (the “Sale”); 
 WHEREAS, pursuant to
Section 6.2(f) of the AXA Note, the Issuers are required to make certain prepayments under the AXA Note upon a sale or Disposition of any GMA.AX Owned Shares; 

WHEREAS, in connection with the foregoing, the Issuers have requested that certain modifications be made to the AXA Note relating to the Sale;
and 
 WHEREAS, the Holder has agreed to amend the AXA Note on the terms and conditions set forth herein. 

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as
follows: 

 SECTION 1. Amendments to AXA Note. As of the Amendment Effective Date (as defined
below), the AXA Note shall hereby be amended to delete the stricken text (indicated in the same manner as the following example: stricken text) and to add the double-underlined text (indicated in the same manner as the following example:
double-underlined text) as set forth on Annex A
attached hereto (the AXA Note as so amended being collectively referred to as the “Amended AXA Note”). 
 SECTION 2.
Conditions of Effectiveness. This Amendment shall become effective as of the first date occurring on or prior to April 15, 2021 upon which all of the following conditions shall be satisfied (such date, if it occurs, the
“Amendment Effective Date”): 
 (a) the Holder shall have received: 

(1) an executed counterpart of this Amendment from each Issuer (including the Administrative Issuer) and the Holder; and 

(2) a fully executed copy of the Prepayment Agreement, dated as of the date hereof, among the Issuers, GHI, the Holder and
Goldman; 
 (b) the Sale Agreement shall have been executed and delivered by all parties thereto; 

(c) payment by the Issuers of all invoiced reasonable out-of-pocket costs and expenses of the Holder required to be paid in
connection with this Amendment, to the extent invoiced at least two (2) Business Days prior to the Amendment Effective Date; 

(d) As of the Amendment Effective Date, after giving effect to this Amendment, all the representations and warranties set forth
herein and in Article 9 of the Amended AXA Note shall be true and correct in all material respects with the same effect as though such representations and warranties had been made on and as of the Amendment Effective Date; provided that, to
the extent that such representations and warranties specifically refer to an earlier date, such representations and warranties were true and correct in all material respects as of such earlier date; provided further that any representation
and warranty that is qualified as to “materiality” or “Material Adverse Effect” shall be true and correct in all respects on the date hereof or on such earlier date, as the case may be (after giving effect to such qualification);
and 
 (e) No Default or Event of Default shall have occurred and be continuing on the Amendment Effective Date or would
exist immediately after giving effect to this Amendment. 
 SECTION 3. Representations and Warranties. Each Issuer hereby represents
and warrants as follows: 
 (a) Each of this Amendment and the Amended AXA Note constitute a legal, valid and binding obligation of such
Issuer, enforceable against such Issuer in accordance with its terms, except as may be limited by applicable bankruptcy, insolvency, or similar laws affecting the enforcement of creditors’ rights generally or by equitable principles relating to
enforceability, regardless of whether considered in a proceeding in equity or at law; and 

  
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 (b) As of the date hereof, and giving effect to the terms of this Amendment, there exists no
Default or Event of Default, and the representations and warranties contained in Article 9 of the Amended AXA Note, are (x) with respect to any representations or warranties that contain a materiality qualifier, true and correct in all
respects, except to the extent any such representation or warranty is stated to relate solely to an earlier date, in which case such representation or warranty shall have been true and correct in all respects on and as of such earlier date and
(y) with respect to any representations or warranties that do not contain a materiality qualifier, true and correct in all material respects, except to the extent any such representation or warranty is stated to relate solely to an earlier
date, in which case such representation or warranty shall have been true and correct in all material respects on and as of such earlier date. 

SECTION 4. Reference to and the Effect on the AXA Note. 

(a) On and after the Amendment Effective Date, each reference in the AXA Note to “this Note”, “hereunder”,
“hereof”, “herein” or words of like import referring to the AXA Note and each reference to the AXA Note in any other Note Document or certificate delivered in connection therewith, shall mean and be a reference to the Amended AXA
Note. 
 (b) Except as specifically amended by this Amendment, the AXA Note and the other Note Documents are hereby ratified and confirmed
and shall continue to be in full force and effect and enforceable. 
 (c) Except as expressly set forth herein, the execution, delivery and
effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of the Holder, nor constitute a waiver of any provision of the AXA Note or any other documents, instruments or agreements executed and/or delivered in
connection therewith or in any way limit, impair or otherwise affect the rights and remedies of the Holder under the AXA Note and the other Note Documents. 

(d) This Amendment and the Prepayment Agreement shall each constitute a Note Document under the terms of the AXA Note and the Amended AXA Note.

 SECTION 5. Headings. Section headings in this Amendment are included herein for convenience only and shall not constitute a part
of this Amendment for any other purpose. 
 SECTION 6. Execution in Counterparts; Electronic Signatures. This Amendment may be
executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Delivery by telecopier, .pdf or other electronic imaging means of an executed counterpart of a
signature page to this Amendment shall be effective as delivery of an original executed counterpart of this Amendment. The words “execution,” “signed,” “signature,” and words of like import herein or in any document
executed in connection herewith shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of
a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records
Act, or any other similar state laws based on the Uniform Electronic Transactions Act. 

  
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 SECTION 7. Expenses. The Issuers agree to pay or reimburse (or cause to be paid or
reimbursed) to the Holder all reasonable and documented out-of-pocket costs and expenses in connection with the development, preparation, negotiation and execution of this Amendment, the Prepayment Agreement, the Sale Agreement and all other
documents and instruments delivered in connection herewith and therewith and the consummation and administration of the transactions contemplated herein and therein, all in accordance with Section 13.7 of the AXA Note. 

SECTION 8. Severability. Any provision of this Amendment held to be invalid, illegal or unenforceable in any jurisdiction shall, as to
such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability of the remaining provisions hereof; and the invalidity of a particular provision in a
particular jurisdiction shall not invalidate such provision in any other jurisdiction. 
 SECTION 9. Successors. The provisions of
this Amendment shall be binding upon and inure to the benefit of the Issuers and the Holder and their respective successors and assigns. 

SECTION 10. GOVERNING LAW. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AMENDMENT SHALL BE GOVERNED BY, AND
CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK, WITHOUT GIVING EFFECT TO ITS PRINCIPLES OR RULES OF CONFLICT OF LAWS TO THE EXTENT SUCH PRINCIPLES OR RULES ARE NOT MANDATORILY APPLICABLE BY STATUTE AND WOULD REQUIRE
OR PERMIT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION. 
 SECTION 11. SUBMISSION TO JURISDICTION; CONSENT TO SERVICE OF PROCESS;
WAIVER OF RIGHT TO TRIAL BY JURY. The provisions set forth in Sections 13.17 and 13.18 of the AXA Note are hereby incorporated, mutatis mutandis. 

[BALANCE OF PAGE INTENTIONALLY LEFT BLANK] 

  
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 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed by
their respective authorized signatories as of the date and year first above written. 
  

			
	 GENWORTH FINANCIAL, INC.

		
	By:	 	 /s/ Daniel J. Sheehan IV

	Name:	 	Daniel J. Sheehan IV
	Title:	 	Executive Vice President, Chief Financial
	Officer and Chief Investment Officer

 
			
	
	 GENWORTH FINANCIAL INTERNATIONAL HOLDINGS, LLC

		
	By:	 	 /s/ Daniel J. Sheehan IV

	Name:	 	Daniel J. Sheehan IV
	Title:	 	Senior Vice President, Chief Financial Officer
	and Chief Investment Officer

 Signature Page to 

Amendment No. 1 to 
 AXA Note 

 
			
	AXA SA, as Holder
		
	By:	 	 /s/ Nicolas LECLERCQ

	Name:	 	Nicolas LECLERCQ
	Title:	 	Head of Group Corporate Finance and Treasury
		 	

 Signature Page to 

Amendment No. 1 to 
 AXA Note 

 ANNEX A 

Amended AXA Note 

(Attached) 

 EXECUTION VERSION 

as amended pursuant to Amendment No. 1, dated February 25,
2021 

SECURED PROMISSORY NOTE 
  

					
	£317,000,000	  		  	Dated as of July 20, 2020

 ARTICLE 1 

OBLIGATION TO PAY 
 FOR VALUE RECEIVED,
Genworth Financial, Inc., a Delaware corporation (“GFI”), and Genworth Financial International Holdings, LLC, a Delaware limited liability company (“GFIH” and, together with GFI, the “Issuers” and
each, an “Issuer”), hereby unconditionally, jointly and severally, promise to pay to the order of AXA SA (together with its successors and permitted assigns, the “Holder”) the aggregate principal amount of Three
Hundred and Seventeen Million Pounds Sterling (£317,000,000), as increased or decreased from time to time pursuant to the terms hereof (such total principal amount, the “Aggregate Principal Amount”), together with interest
provided for below, in each case, payable at times and in the manner set forth below in this Secured Promissory Note (this “Note”). 

ARTICLE 2 
 DEFINITIONS AND OTHER
INTERPRETATIVE PROVISIONS 
 Section 2.1 Definitions. Capitalized terms used herein shall have the meanings set forth in this
Section 2.1. 
 “Administrative Issuer” has the meaning set forth in Section 2.7. 

“Affiliate” means, with respect to any Person, another Person that directly, or indirectly through one or more
intermediaries, Controls or is Controlled by or is under common Control with the Person specified. 
 “Aggregate Principal
Amount” has the meaning set forth in Article 1. 

“Amendment
 No. 1” means that certain Amendment No. 1 to AXA Note, dated as of February 25, 2021, by and among the Issuers and the Holder. 

“Amendment
 No. 1 Effective Date” means the date of the occurrence of the Amendment Effective Date (as defined in the Amendment No. 1). 

“Amendment
 No. 1 Transactions” means (a) the execution and delivery of Amendment No. 1, the Prepayment Agreement and the Block Trade Sale Agreement and (b) consummation of the transactions contemplated by the agreements set forth in
clause (a) and other documents and instruments delivered in connection therewith. 

 “Attorney Costs” means all reasonable and documented out-of-pocket fees,
expenses and disbursements of any law firm or other legal counsel. 
 “AUD” and “A$” means the lawful currency of the Commonwealth of Australia.  
 “Australian Collateral Documents” means (a) the Australian Security
Deed and (b) the Australian Tripartite Agreement. 
 “Australian Controller” has the meaning given to the term
“controller” in the Australian Corporations Act. 
 “Australian Corporations Act” means the Corporations Act 2001
(Cth) of Australia, as amended. 
 “Australian Insolvency Event” means, in relation to any Person that is incorporated or
organized in Australia, any of the following events (other than with respect to dissolutions or liquidations permitted hereunder): 
 (a) the
corporation is dissolved or deregistered (whether pursuant to Chapter 5A of the Australian Corporations Act or otherwise); 
 (b) an
Australian Controller, liquidator, provisional or interim liquidator, receiver, statutory manager or administrator is appointed in respect of the corporation or any of its assets; 

(c) an application or petition is made to a court, a meeting is convened or a resolution is passed for the corporation to be wound up or
dissolved or for the appointment of an Australian Controller, liquidator, provisional or interim liquidator, receiver, receiver and manager, statutory manager or administrator to the corporation or any of its assets and such application is not
withdrawn or dismissed within 30 consecutive days; 
 (d) the corporation: 

(i) enters into a scheme of arrangement, a deed of company arrangement, an amalgamation, a compromise, arrangement or
composition with its creditors or an assignment for their benefit; 
 (ii) is subject to a moratorium of its debts (or a
class thereof); or 
 (iii) takes proceedings or actions similar to those mentioned in this definition as a result of which
the corporation’s assets are submitted to the control of its creditors (or a class thereof); 

  
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 (e) the corporation seeks or obtains protection from its creditors under any statute or any
other law; or 
 (f) an event occurs in relation to the corporation under similar debtor relief or insolvency Laws of Australia from time to
time in effect and affecting the rights of creditors generally, 
 and provided that a reference in this definition to a
“corporation” includes a reference to a trust or any other entity. 
 “Australian PPSA” means the Personal
Property Securities Act 2009 (Cth) of Australia and includes any regulations made thereunder. 
 “Australian Security Deed”
means that certain Specific Security Deed entered into by GFI and GFIH in favor of the Holder, dated as of the date hereofIssue Date, in respect of the GMA.AX Collateral Account and the GMA.AX
Pledged Shares. 
 “Australian Tripartite Agreement” means the tripartite agreement to be entered into by GFI, GFIH,
the CHESS Participant and Holder in respect of the GMA.AX Pledged Shares in the GMA.AX Collateral Account. 
 “Block Trade Sale Agreement” means that certain Block Trade Sale Agreement, anticipated to be dated on or about
March 1, 2021, in form and substance satisfactory to the Holder (it being acknowledged and agreed that any such agreement in substantially the form provided to, and to the extent approved by, the Holder prior to the date of Amendment No. 1
shall be deemed satisfactory to the Holder), pursuant to which GFIH and GHI, as sellers, shall appoint Goldman Australia to effect the sale of all of the GMA.AX Owned Shares (including, for the avoidance of doubt, all of the GMA.AX Pledged Shares)
to third-party purchasers or Goldman Australia, as the case may be, for an agreed sale price. 

“Business Day” means any day other than a Saturday, Sunday or other day on which commercial banks in New York City or Paris
are authorized or required to close. 
 “Capitalized Lease Obligations” means, with respect to any Person, all monetary
obligations of such Person under any leasing or similar arrangement that, in accordance with GAAP, would be classified as a capitalized lease, and, for purposes of this Note, the amount of such obligations shall be the capitalized amount thereof,
determined in accordance with GAAP, and the stated maturity thereof shall be the date of the last payment of rent or any other amount due under such lease prior to the first date upon which such lease may be terminated by the lessee without payment
of a penalty. For purposes of this definition, whenever in this Note it is necessary to determine whether a lease is a capital lease or an operating lease, such determination shall be made on the basis of GAAP prior to giving effect to FASB
Accounting Standards Update ASU 2016-02 (whether or not such operating leases were in effect at the time of effectiveness thereof) other than in the case of preparation of financial statements and information. 

  
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 “Cash Equivalents” means (a) marketable direct obligations
issued by, or unconditionally guaranteed by, the United States government or issued by any agency thereof and backed by the full faith and credit of the United States or any State thereof in each case maturing within one year from the date of
acquisition; (b) certificates of deposit, time deposits, eurodollar time deposits or overnight bank deposits having maturities of twelve months or less from the date of acquisition issued by any commercial bank organized under the laws
of the United States or any State thereof having combined capital and surplus of not less than $500,000,000 and a short term deposit rating of at least A-1 by S&P and P-1 by Moody’s Investors Service, Inc., or carrying an equivalent rating
by a nationally recognized rating agency, if both of the two named rating agencies cease publishing ratings of commercial paper issuers generally; (c) commercial paper of an issuer rated at least A-2 by S&P and P-2 by Moody’s
Investors Service, Inc. at the time of acquisition thereof, or carrying an equivalent rating by a nationally recognized rating agency, if both of the two named rating agencies cease publishing ratings of commercial paper issuers generally, and
maturing within nine months from the date of acquisition; (d) repurchase obligations of any commercial bank satisfying the requirements of clause (b) of this definition, having a term of not more than 30 days, with respect to
securities issued or fully guaranteed or insured by the United States government; (e) securities with maturities of one year or less from the date of acquisition issued or fully guaranteed by any state, commonwealth or territory of the
United States, by any political subdivision or taxing authority of any such state, commonwealth or territory or by any foreign government, the securities of which state, commonwealth, territory, political subdivision, taxing authority or foreign
government (as the case may be) are rated at least A by S&P and A2 by Moody’s Investors Service, Inc.; (f) securities with maturities of one year or less from the date of acquisition backed by standby letters of credit issued by
any commercial bank satisfying the requirements of clause (b) of this definition; (g) instruments equivalent to those referred to in clauses (a) through (f) above denominated in any foreign currency comparable in credit
quality and tenor to those referred to above and customarily used for cash management purposes in any jurisdiction outside the United States; and (h) shares of money market mutual or similar funds that invest exclusively in assets
satisfying the requirements of clauses (a) through (g) of this definition. 
 “Change of Control” means the
occurrence of any of the following: 
 (a) the acquisition, directly or indirectly, by any person or group (as such terms are used in
Sections 13(d) and 14(d) of the Exchange Act), of beneficial ownership (within the meaning of Rule 13d-3 of the SEC under the Exchange Act) of 40% or more of the outstanding shares of Voting Stock of GFI; 

  
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 (b) the Disposition of all or substantially all of the assets of GMHI and its Subsidiaries,
taken as a whole; 
 (c) the acquisition, directly or indirectly, by any person or group (as such terms are used in Sections 13(d) and 14(d)
of the Exchange Act) (other than any Note Party), of beneficial ownership (within the meaning of Rule 13d-3 of the SEC under the Exchange Act) of 40% or more of the outstanding shares of Voting Stock of GMHI or any Subsidiary of GMHI which is
(x) a Material Subsidiary or (y) a parent entity of a Material Subsidiary; or 
 (d) the failure by GFI to own, legally and
beneficially, directly or indirectly, 100% of the Equity Interests in GHI and GFIH. 
 Notwithstanding the foregoing, in no event shall the China Oceanwide
Acquisition constitute a Change of Control pursuant to clause (a) above. 
 “CHESS” means the Clearing House
Electronic Subregister System in Australia. 
 “CHESS Participant” means the “Participant” as such term is
defined in the Australian Tripartite Agreement. 
 “China Oceanwide Acquisition” means the occurrence of the “Closing
Date” (as defined in the CO Merger Agreement) and the consummation of the transactions contemplated by the CO Merger Agreement. 

“CO Merger Agreement” means that certain agreement and plan of merger entered into on October 21, 2016 by and among Asia
Pacific Global Capital Co., Ltd., a limited liability company incorporated in the People’s Republic of China, Asia Pacific Global Capital USA Corporation, a Delaware corporation and GHI. 

“Code” means the U.S. Internal Revenue Code of 1986, as amended. 

“Collateral” means all of the property and assets and all interests therein and proceeds thereof now owned or hereafter
acquired by any Person upon which a Lien is granted or purported to be granted by such Person as security for all or any part of the Obligations. 

“Collateral and Guaranty Requirement” means, at any time, the requirement that: 

(a) the Holder shall have received: (i) on the Issue Date, the U.S. Guarantee and Collateral Agreement and the Australian Collateral
Documents and (ii) at such time as specified or as may be required thereby, such other Collateral Documents or other documents required by the Collateral Documents or Section 10.13, in each case, duly executed and delivered by each Note
Party party thereto; 

  
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 (b) on the Issue Date, the following property shall be pledged by GHI and GFIH pursuant to
the relevant Collateral Documents in favor of the Holder: (i) 19.9% of the issued and outstanding common shares of GMA.AX, together with any rights or securities consequent upon the conversion, consolidation, subdivision, redemption,
cancellation, reclassification or forfeiture thereof (such shares, rights or securities, together, subject to the proviso below, the “GMA.AX Pledged Shares”) and including any proceeds relating to any of the foregoing and
(ii) all dividends and other distributions paid or payable with respect to the GMA.AX Pledged Shares; provided that “GMA.AX Pledged Shares” shall, for all purposes under the Note Documents, the Australian Collateral Documents
and U.S. Guarantee and Collateral Agreement and without further action, be reduced by such number of the issued and outstanding common shares of GMA.AX (and related rights described above) (A) so that at no time shall the number of GMA.AX
Pledged Shares be greater than the 19.9% of the issued and outstanding common shares of GMA.AX, and (B) released, in aggregate since the Issue Date, from the Collateral in accordance with Section 10.12 or otherwise in accordance with the
terms of the Note Documents; 
 (c) on the Issue Date, the following property shall be pledged by GHI pursuant to the relevant Collateral
Documents in favor of the Holder: (i) 19.9% of the issued and outstanding common shares of GMHI, together with any rights or securities consequent upon the conversion, consolidation, subdivision, redemption, cancellation, reclassification or
forfeiture thereof (such shares, rights or securities, together, the “GMHI Pledged Shares”), and including any proceeds relating to any of the foregoing and (ii) all dividends and other distributions paid or payable with
respect to the GMHI Pledged Shares; provided that “GMHI Pledged Shares” shall, for all purposes under the Note Documents and U.S. Guarantee and Collateral Agreement and without further action, be reduced by such number of the issued
and outstanding common shares of GMHI (and related rights described above) released, in aggregate since the Issue Date, from the Collateral in accordance with Section 10.12 or otherwise in accordance with the terms of the Note Documents; 

(d) all documents and instruments, including Uniform Commercial Code financing statements or other applicable financing statements (including
under the Australian PPSA), required by law or reasonably requested by the Holder to be filed, registered or recorded to create the Liens intended to be created by the Collateral Documents and perfect or record such Liens to the extent, and with the
priority, required by the Collateral Documents, shall have been filed, registered or recorded or delivered to the Holder for filing, registration or recording; 

(e) each Note Party shall have obtained all corporate or similar organizational consents and approvals required to be obtained by it in
connection with the execution and delivery of all Collateral Documents to which it is a party, the performance of its obligations thereunder and the granting of the Liens granted by it thereunder; 

  
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 (f) the Note Parties shall have taken all other actions required under the Collateral
Documents to create or perfect the Liens under the Collateral Documents; and 
 (g) all Obligations shall have been unconditionally
guaranteed by GHI: (i) on the Issue Date, on a limited recourse basis or (ii) if the circumstance referred in Section 11.2 applies, on a full recourse basis. 

“Collateral Coverage Ratio” means, as of any date of determination, the ratio of (a) the Sterling Equivalent of the
Collateral Value as of such date to (b) an amount equal to (x) the Aggregate Principal Amount as of such date (including for the avoidance of doubt any Future Loss Payment Amounts added as of such date to the principal amount of the Note)
plus (y) the Expected Remaining Future Loss Payment Amounts as of such date. 
 “Collateral Documents” means,
collectively, the U.S. Guarantee and Collateral Agreement, the Australian Collateral Documents and each of the other agreements, instruments or documents (x) delivered pursuant thereto, (y) delivered pursuant to the Collateral and Guaranty
Requirement or (z) that creates or perfects or purports to create or perfect a Lien in favor of the Holder as security for all or any part of the Obligations. 

“Collateral Value” means, as of any date (the “Testing Date”), an amount that is (x) with respect to
the GMA.AX Pledged Shares, so long as a market price is publicly available, the volume weighted average price per share of the 10 trading day period ending on the Testing Date multiplied by the number of GMA.AX Pledged Shares legally and
beneficially owned on the Testing Date by GHI and GFIH, and (y) with respect to the GMHI Pledged Shares, (i) at any time prior to the standalone financial statements prepared in accordance with GAAP for GMHI being made publicly available
or delivered by the Administrative Issuer to the Holder, 90% of the book value of such GMHI Pledged Shares reflected on the most recent consolidated financial statements of GFI on Form 10-K or Form 10-Q filed with the SEC and (ii) after the
standalone financial statements prepared in accordance with GAAP for GMHI being made publicly available or delivered by the Administrative Issuer to the Holder, 90% of the book value of such GMHI Pledged Shares based on GMHI’s book value on a
consolidated basis as presented on such financial statements; provided that in the event of an initial public offering of Equity Interests of GMHI, the value of the GMHI Pledged Shares shall be the volume weighted average price per share (in
Dollars) of the 10 trading day period ending on the Testing Date multiplied by the number of GMHI Pledged Shares legally and beneficially owned on such date by GHI; provided further that, pending any such valuation, at the Administrative
Issuer’s request, the Holder may assign a temporary value to any such Collateral under this clause (y) based on the book value thereof or any other appropriate metric, as determined by the Holder in its discretion. For the avoidance of
doubt, (i) any Collateral that is not subject to a perfected first priority lien in favor of the Holder shall be assigned a Collateral Value of zero and (ii) if no market price is publicly available for the GMA.AX Pledged Shares on the
Testing Date and on each day of the 10 trading day period ending on the Testing Date, the GMA.AX Pledged Shares shall be assigned a Collateral Value of zero on the Testing Date. 

  
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 “Contingent Obligations” means, without duplication, any agreement,
undertaking or arrangement by which any Person guarantees, endorses or otherwise becomes or is contingently liable upon (by direct or indirect agreement, contingent or otherwise, to provide funds for payment, to supply funds to, or otherwise to
invest in, a debtor, or otherwise to assure a creditor against loss) the debt, obligation or other liability of any other Person (other than by endorsements of instruments in the ordinary course of collection or indemnities under contracts entered
into in the ordinary course of business and not in respect of Indebtedness), or guarantees the payment of dividends or other distributions upon the shares of any other Person; provided that the obligations of any Person (a) under any
Reinsurance Agreement or (b) in connection with investments of Insurance Subsidiaries or Subsidiaries of Insurance Subsidiaries permitted by the applicable Governmental Authority of such Insurance Subsidiary’s jurisdiction of domicile
shall not be deemed Contingent Obligations of such Person. The amount of any Contingent Obligation of any Person shall (subject to any limitation set forth therein) be deemed to be an amount equal to the stated or determinable amount of the related
primary obligation, or portion thereof, in respect of which such Contingent Obligation is made or, if not stated or determinable, the maximum reasonably anticipated liability in respect thereof as determined by such Person in good faith. 

“Contractual Obligation” means, as to any Person, any provision of any security issued by such Person or of any agreement,
instrument or other undertaking to which such Person is a party or by which it or any of its property is bound. 

“Control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management or
policies of a Person, whether through the ability to exercise voting power, by contract or otherwise. “Controlling” and “Controlled” have meanings correlative thereto. 

“Debtor Relief Laws” means Title 11 of the U.S. Code (11 U.S.C. § 101 et seq.) of the United States, and all other
applicable liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, arrangement, receivership, insolvency, reorganization, winding up or similar laws (including corporate statutes) of the United
States, Australia or other applicable jurisdiction, in each case, from time to time in effect and affecting the rights of creditors generally. 

“Default” means any event or condition that constitutes an Event of Default or that, with the giving of any notice, the
passage of time, or both, would (if not cured or otherwise remedied during such time) be an Event of Default. 
 “Designated
Non-Cash Consideration” means the fair market value of non-cash consideration received by GFI or any of its Subsidiaries in connection with a Disposition pursuant to Section 11.3 that is designated as Designated Non-Cash Consideration
pursuant to a certificate of a Responsible Officer of the Administrative Issuer, setting forth the basis of such valuation (which amount will be reduced by the fair market value of the portion of the non-cash consideration converted to cash within
180 days following the consummation of the applicable Disposition). 

  
 8 

 “Disposition” or “Dispose” means the sale, assignment,
license, leasing as lessor (other than in the ordinary course), transfer, contribution, conveyance, issuance or other disposal of assets (including a sale and leaseback transaction and any transaction pursuant to a Reinsurance Agreement that is not
a Qualifying Reinsurance Transaction). The terms “Dispose of”, “Disposing of” and “Disposed of” shall have correlative meanings. 

“Disqualified Equity Interests” means any Equity Interest that, by its terms (or by the terms of any security or other Equity
Interests into which it is convertible or for which it is exchangeable), or upon the happening of any event or condition (a) matures or is mandatorily redeemable (other than solely for Qualified Equity Interests), pursuant to a sinking fund
obligation or otherwise (except as a result of a change of control or asset sale so long as any rights of the holders thereof upon the occurrence of a change of control or asset sale event shall be subject to the prior repayment in full of the Note
and all other Obligations (other than contingent indemnification obligations as to which no claim has been asserted) that are accrued and payable), (b) is redeemable at the option of the holder thereof (other than solely for Qualified Equity
Interests and other than as a result of a change of control or asset sale so long as any rights of the holders thereof upon the occurrence of a change of control or asset sale event shall be subject to the prior repayment in full of the Note and all
other Obligations (other than contingent indemnification obligations as to which no claim has been asserted) that are accrued and payable), (c) provides for the scheduled payments of dividends in cash, or (d) is or becomes convertible into
or exchangeable for Indebtedness or any other Equity Interests that would constitute Disqualified Equity Interests, in each case, prior to the date that is ninety-one (91) days after the Maturity Date; provided, that if such Equity
Interests are issued pursuant to a plan for the benefit of future, current or former employees, directors, officers, members of management or consultants of the Issuers (or any direct or indirect parent thereof) or Subsidiaries or by any such plan
to such employees, directors, officers, members of management or consultants, such Equity Interests shall not constitute Disqualified Equity Interests solely because they may be permitted to be repurchased by Issuers or its Subsidiaries in order to
satisfy applicable statutory or regulatory obligations or as a result of such employee’s, director’s, officer’s, management member’s or consultant’s termination of employment or service, as applicable, death or disability.

 “Dollar” and “$” mean lawful money of the United States. 

“Equity Interests” means, with respect to any Person, all of the shares, interests, rights, participations or other
equivalents (however designated) of capital stock of (or other ownership or profit interests or units in) such Person and all of the warrants, options or other rights for the purchase, acquisition or exchange from such Person of any of the foregoing
(including through convertible securities). 

  
 9 

 “Event of Default” has the meaning set forth in Section 8.1. 

“Exchange Act” means the Securities Exchange Act of 1934. 

“Expected Remaining Future Loss Payment Amounts” means, as of any date of determination, the excess of
(x) £107,000,000 over (y) any Future Loss Payment Amounts which have been added to the principal amount of the Note pursuant to Section 3.2(a) prior to or on such date. 

“FATCA” means Sections 1471 through 1474 of the Code, as of the date of this Note (or any amended or successor version that
is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof, any agreements entered into pursuant to Section 1471(b)(1) of the Code and any fiscal or
regulatory legislation, rules or practices adopted pursuant to any intergovernmental agreement, treaty or convention among Governmental Authorities and implementing such Sections of the Code. 

“Federal District Court” has the meaning set forth in Section 13.17(a). 

“Final Installment Amount” has the meaning set forth in Section 3.1(a). 

“Financial Indebtedness” means, with respect to any Note Party or any member of the GMHI Group, Indebtedness for borrowed
money, Capitalized Lease Obligations, Disqualified Equity Interests and debt obligations evidenced by promissory notes or similar instruments (including purchase money debt) and all Guarantees of Indebtedness of such types set forth in this
definition that is owed (1) in the case of a Guarantee by any Note Party, by a Person that is not a Note Party or (2) in the case of a Guarantee by any member of the GMHI Group, by a Person that is not a member of the GMHI Group. 

“First Installment Amount” has the meaning set forth in Section 3.1(a). 

“First Installment Date” means June 30, 2022. 

“FRB” means the Board of Governors of the Federal Reserve System and any Governmental Authority succeeding to any of its
principal functions. 
 “Future Loss Payment Amounts” shall have the meaning set forth in the Settlement Agreement. 

“Future Loss Payoff Amount” means (a) in relation to any repayment, prepayment, Event of Default (which has not been
waived in writing or cured in accordance with this Note) or acceleration of the Obligations, in each case occurring on a date prior to January 1, 2021, an amount equal to (x) 50% of the Expected Remaining Future Loss Payment Amounts as of
such date minus (y) any prepayment in part of the Future Loss Payoff Amount pursuant to Article 6 and (b) in relation to any repayment, prepayment, Event of Default (which has not been waived in writing or cured in accordance with
this Note) or acceleration of the Obligations, in each case occurring on a date on or after January 1, 2021, £0. 

  
 10 

 “GAAP” means generally accepted accounting principles in the U.S. in effect
and applicable to the accounting period in respect of which reference to GAAP is being made. 
 “GFI” has the meaning set
forth in Article 1. 
 “GFIH” has the meaning set forth in Article 1. 

“GHI” means Genworth Holdings, Inc., a Delaware corporation. 

“GMA.AX” means Genworth Mortgage Insurance Australia Limited (ACN 154 890 730). 

“GMA.AX Group” means GMA.AX and its Subsidiaries. 

“GMA.AX Collateral Account” means the CHESS holding in which the GMA.AX Pledged Shares are held. 

“GMA.AX Owned Shares” means the issued and outstanding common shares of GMA.AX (being approximately a 52% stake as of the
Issue Date) owned by GHI and GFIH as partners. For the avoidance of doubt, GMA.AX Owned Shares shall include the GMA.AX Pledged Shares. 

“GMA.AX Pledged Shares” has the meaning set forth in the definition of “Collateral and Guaranty Requirement”. 

“GMA.AX Prepayment Event” means: 

(i) any member of the GMA.AX Group (A) fails to make any payment in respect of any Indebtedness (other than Swap Contracts) having an
aggregate outstanding principal amount of more than the Threshold Amount (in the aggregate for all such Indebtedness), when due (whether by scheduled maturity, required prepayment, acceleration, demand or otherwise) after giving effect to any
applicable grace period; or (B) fails to perform or observe any other condition or covenant, or any other event shall occur or condition exist, under any agreement or instrument relating to any such Indebtedness having an aggregate outstanding
principal amount of more than the Threshold Amount (in the aggregate for all such Indebtedness) (and, in each case, such failure or event continues after the applicable grace or notice period, if any, specified in the relevant document) if the
effect of such failure, event or condition is to cause, or to permit the holder or holders of such Indebtedness or beneficiary or beneficiaries of such Indebtedness (or a trustee or agent on behalf of such holder or holders or beneficiary or
beneficiaries) to cause, such Indebtedness to be declared to be due and payable prior to its stated maturity; or 

  
 11 

 (ii) (w) an Event of Default (as defined in an applicable Swap Contract) occurs under
any Swap Contract as to which any member of the GMA.AX Group is the Defaulting Party (as defined in such Swap Contract) and the Non-defaulting Party (as defined under such Swap Contract) has designated an Early Termination Date (as defined in such
Swap Contract) for all outstanding transactions under such Swap Contract as a result of such Event of Default and (x) the Swap Termination Value is greater than the Threshold Amount (in the aggregate for all such Swap Contracts), 

provided that (A) such GMA.AX Prepayment Event shall be deemed as continuing unless and until such date that such failure, event
or condition is remedied in accordance with, or otherwise waived by the holders of, the applicable debt and (B) clause (i) and (ii) shall not apply to secured debt of any member of the GMA.AX Group that becomes due as a result of the
Disposition of the property or assets securing such debt. 
 “GMHI” means Genworth Mortgage Holdings, Inc., a
Delaware corporation. 
 “GMHI Distribution Equivalent Transaction” means any transaction among any member of the GMHI
Group and an Affiliate of GFI, GFI or any of its Subsidiaries (other than any other member of the GMHI Group) that is permitted by Section 11.6(d). The value for purposes of any GMHI Distribution Equivalent Transaction shall be deemed to be the
excess value received by any Affiliate of GFI, any of the Note Parties or any of their respective Subsidiaries (excluding the GMHI Group) as calculated in accordance with Section 11.6(d). 

“GMHI
Equity Transaction Condition” means that a Qualifying Equity Transaction has been consummated. 

“GMHI Group” means GMHI and its Subsidiaries. 

“GMHI Owned Shares” means the issued and outstanding common shares of GMHI (being a 100% stake as of the Issue Date) owned by
GHI, which, for the avoidance of doubt, shall include the GMHI Pledged Shares. 
 “GMHI Pledged Shares” has the meaning set
forth in the definition of Collateral and Guaranty Requirement. 
 “GMICO” means Genworth Mortgage Insurance Corporation, a
North Carolina corporation and wholly owned Subsidiary of GMHI. 

  
 12 

“Goldman
Australia” means Goldman Sachs Australia Pty Ltd (ACN 006 797 897). 

“Governmental Authority” means the government of the United States or any other nation, or of any state or other political
subdivision thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or
pertaining to government (including any supra-national bodies such as the European Union or the European Central Bank). 

“Guarantee” means, as to any Person, without duplication, (a) any obligation, contingent or otherwise, of such Person
guaranteeing or having the economic effect of guaranteeing any Indebtedness or other monetary obligation payable or performable by another Person (the “primary obligor”) in any manner, whether directly or indirectly, and including
any obligation of such Person, direct or indirect, (i) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other monetary obligation, (ii) to purchase or lease property, securities or
services for the purpose of assuring the obligee in respect of such Indebtedness or other monetary obligation of the payment or performance of such Indebtedness or other monetary obligation, (iii) to maintain working capital, equity capital or
any other financial statement condition or liquidity or level of income or cash flow of the primary obligor so as to enable the primary obligor to pay such Indebtedness or other monetary obligation, or (iv) entered into for the purpose of
assuring in any other manner the obligee in respect of such Indebtedness or other monetary obligation of the payment or performance thereof or to protect such obligee against loss in respect thereof (in whole or in part), or (b) any Lien on any
assets of such Person securing any Indebtedness or other monetary obligation of any other Person, whether or not such Indebtedness or other monetary obligation is assumed by such Person (or any right, contingent or otherwise, of any holder of such
Indebtedness to obtain any such Lien); provided that the term “Guarantee” shall not include endorsements for collection or deposit, in either case in the ordinary course of business. The amount of any Guarantee shall be deemed to be
an amount equal to the stated or determinable amount of the related primary obligation, or portion thereof, in respect of which such Guarantee is made or, if not stated or determinable, the maximum reasonably anticipated liability in respect thereof
as determined by the guaranteeing Person in good faith. The term “Guarantee” as a verb has a corresponding meaning. 

“Government-Sponsored Enterprise” means the Federal Home Loan Mortgage Corporation (“Freddie Mac”), the Federal
National Mortgage Association (“Fannie Mae”), and its and their conservator and regulator, the Federal Housing Finance Agency. 

“Guaranty” means, collectively, the guaranty or the purported guaranty of all or any part of the Obligations by the Note
Parties pursuant to the U.S. Guarantee and Collateral Agreement. 

  
 13 

 “Holder” has the meaning set forth in Article 1. The term
“Holders” shall include any permitted holders of Notes pursuant to assignment in accordance with Section 13.6(a) and 13.6(c). 

“Holder-Related Persons” means the Holder, together with its respective Affiliates, and the officers, directors, employees,
agents and attorneys-in-fact of such Persons and Affiliates. 
 “Indebtedness” means, as to any Person at a particular
time, without duplication, all of the following: 
 (a) all indebtedness of such Person for borrowed money or in respect of loans or
advances; 
 (b) all indebtedness of such Person evidenced by bonds, debentures, notes or other similar instruments; 

(c) all indebtedness in respect of letters of credit, whether or not drawn, and bankers’ acceptances and letters of guaranty issued for
the account or upon the application or request of such Person; 
 (d) all Capitalized Lease Obligations of such Person; 

(e) all obligations of such Person in respect of Disqualified Equity Interests; 

(f) the liabilities (if any) of such Person in respect of Swap Contracts as determined by reference to the Swap Termination Value thereof; 

(g) all obligations of such Person to pay the deferred purchase price of property or services that are included as liabilities in accordance
with GAAP (other than accrued compensation and expenses incurred and trade accounts payable in each case in the ordinary course of business) and all obligations secured by a Lien on property owned or being purchased by such Person, but only to the
extent of the lesser of the obligations secured or the value of the property to which such Lien is attached (including obligations arising under conditional sales or other title retention agreements); 

(h) any obligation of a partnership of the kind referred to in clauses (a) through (g) above or clause (i) below in which such
Person is a general partner (unless the partnership agreement in respect thereof provides that such general partners is not liable in respect of such obligations); and 

(i) all Contingent Obligations of such Person in connection with Indebtedness or obligations of others of the kinds referred to in clauses
(a) through (h) above. 

  
 14 

 Notwithstanding anything to the contrary, “Indebtedness” shall not include
(1) liabilities in respect of unearned premiums on Policies, (2) obligations under intercompany tax and expense sharing arrangements or (3) obligations owed to payroll service providers in respect of advances made to or on behalf of
the Note Parties or to employees of the Note Parties in the ordinary course of business or obligations under Policies and Reinsurance Agreements. 

“Indemnified Person” and “Indemnified Persons” have their respective meanings set forth in
Section 13.4(a). 
 “Information Restrictions” has the meaning set forth in Section 10.2. 

“Insolvency Proceeding” means, with respect to any Person, (a) any case, action or proceeding with respect to such
Person before any court or other Governmental Authority relating to bankruptcy, reorganization, insolvency, liquidation, conservation, rehabilitation, receivership, dissolution, winding-up, arrangement or relief of debtors, (b) any general
assignment for the benefit of creditors, composition, marshalling of assets for creditors or other similar arrangement in respect of its creditors generally or any substantial portion of its creditors, in any case, undertaken under any Debtor Relief
Law or (c) with respect to any Person that is incorporated or organized in Australia, an Australian Insolvency Event. 

“Insurance Subsidiary” means any Subsidiary that is required to be licensed as an insurer or reinsurer by a Governmental
Authority in connection with the operation, ownership or transaction of insurance business. 
 “Interest Rate” has the
meaning set forth in Section 4.1(a). 
 “Interest Rate Reduction Credit” has the meaning set forth in
Section 4.1(a). 
 “Issue Date” means July 20, 2020. 

“Issuer” has the meaning set forth in Article 1. 

“Judgment Currency” has the meaning set forth in Section 13.19. 

“Laws” means, collectively, all international, foreign, Federal, state and local statutes, treaties, rules, guidelines,
regulations, ordinances, codes, administrative or judicial precedents or authorities and executive orders, including the interpretation or administration thereof by any Governmental Authority charged with the enforcement, interpretation or
administration thereof, and all applicable administrative orders, directed duties, requests, licenses, authorizations and permits of, and agreements with, any Governmental Authority. 

  
 15 

 “License” means any license, certificate of authority, permit or other
authorization that is required to be obtained from any Governmental Authority in connection with the operation, ownership or transaction of insurance business. 

“Lien” means any mortgage, pledge, hypothecation, assignment, deposit arrangement, encumbrance, lien (statutory or other),
charge, or preference, priority or other security interest or preferential arrangement of any kind or nature whatsoever (including, without limitation, any conditional sale or other title retention agreement, any easement, right of way or other
encumbrance on title to real property, and any Capitalized Lease Obligation having substantially the same economic effect as any of the foregoing). 

“Margin Stock” means “margin stock” as such term is defined in Regulation T, U or X of the FRB. 

“Material Adverse Effect” means (a) a material adverse change in, or a material adverse effect upon, the business,
properties, results of operations or financial condition of the Note Parties taken as a whole; (b) a material impairment of the ability of the Note Parties, taken as a whole, to perform their obligations under the Note Documents;
(c) material adverse effect on the validity or enforceability of any Note Document; or (d) material adverse effect on the rights and remedies available to the Holder under any Note Document. 

“Material Subsidiary” means any Subsidiary of GFI that is a Significant Subsidiary (as defined under the Securities Act) of
GFI. 
 “Maturity Date” means September 30, 2022. 

“Maximum Rate” has the meaning set forth in Section 13.10. 

“Net Cash Proceeds” means, with respect to any sale or issuance of any Equity Interests or any Disposition by any Person or
any of its Subsidiaries, the aggregate amount of cash and Cash Equivalents (i) in the case of a sale or issuance of Equity Interests, raised in respect thereof from time to time and (ii) in the case of a Disposition, received (directly or
indirectly) from time to time (whether as initial consideration or through the payment or disposition of deferred consideration) by or on behalf of such Person or such Subsidiary, in each of clauses (i) and (ii), in connection therewith after
deducting therefrom only (a) reasonable expenses related thereto incurred and paid (or deducted) or reasonably estimated to be paid by such Person or such Subsidiary in connection therewith (including reasonable legal fees, notarial fees,
accountants’ fees, investment banking fees or other customary financing fees, underwriting discounts and commissions and other customary fees and expenses incurred in connection therewith) (b) (except in relation to any sale or issuance of
Equity Interests) transfer taxes paid to any taxing authorities by such Person or such Subsidiary in connection therewith, and (c) (except in relation to any sale or issuance of Equity Interests) net income taxes paid or reasonably estimated to
be paid in connection therewith (after taking into account any tax credits or deductions and any payments under tax sharing arrangements with respect to net income taxes that are determined on a consolidated or affiliated basis and actually payable
to a taxing authority), in each case, but only to the extent, that the amounts so deducted are properly attributable to such transaction or to the asset that is the subject thereof. 

  
 16 

 “New York Courts” has the meaning set forth in Section 13.17(a). 

“New York Supreme Court” has the meaning set forth in Section 13.17(a). 

“Note” has the meaning set forth in Article 1. The term “Notes” shall include any Notes issued pursuant to a
permitted assignment by any Holder in accordance with Section 13.6(a). 
 “Note Currency” has the meaning set forth in
Section 13.19. 
 “Note Documents” means, collectively, (a) this Note, (b) the Collateral Documents and, (c) Amendment No. 1, (d) the Prepayment Agreement, and
(e) any other document or instrument designated by the Administrative Issuer and the Holder as a “Note Document”. 

“Note Parties” means, collectively, the Issuers and GHI. 

“Obligations” means all debts, liabilities, obligations, covenants and duties of, any Note Party arising under any Note
Document, or otherwise with respect to any Note Document, whether direct or indirect (including those acquired by assumption), absolute or contingent, due or to become due, now existing or hereafter arising and including interest and fees that
accrue after the commencement by or against any Note Party or Subsidiary of any proceeding under any Debtor Relief Laws naming such Person as the debtor in such proceeding, regardless of whether such interest and fees are allowed claims in such
proceeding. Without limiting the generality of the foregoing, the Obligations include (x) the Issuers’ obligation to pay the First Installment Amount and all amounts due on the Maturity Date (including any increase to the principal amount
of the Note in connection with any Future Loss Payment Amounts added to the Note on or prior to the Maturity Date) in full in cash to the Holder, including any interest (including default interest) thereon, fees and any other obligations of the Note
Parties and its Subsidiaries in relation to the First Installment Amount, the Final Installment Amount and the Maturity Date and (y) the Future Loss Payoff Amount. 

  
 17 

 “Operating Indebtedness” means any indebtedness of any Insurance Subsidiary
or any Subsidiary of an Insurance Subsidiary in respect of (a) repurchase agreements and securities lending undertaken in connection with ordinary course investment activities, (b) Federal Home Loan Bank borrowings, reimbursement
obligations or other indebtedness and borrowings and other indebtedness in connection with long term community investment advances, in each case, incurred in the ordinary course of business consistent with past practices, (c) [reserved],
(d) obligations incurred in the ordinary course of business consistent with past practices to the extent the proceeds of which are used directly or indirectly (including for the purpose of funding portfolios that are used to fund trusts in
order) to support statutory mortgage insurance reserve requirements, (e) obligations incurred in the ordinary course of business consistent with past practices to the extent the proceeds of which are used to fund discrete customer-related
assets or pools of assets (and related hedge instruments and capital) that are at least notionally segregated from other assets and have sufficient cash flow to pay principal and interest thereof, with insignificant risk to other assets of GFI and
its Subsidiaries being called upon to make such principal and interests payments, (f) deposits by any Insurance Subsidiary with any state agency or designee thereof to secure policyholder obligations, (g) ownership interest in an SPV in
connection with reinsurance agreements, (h) assets of an Insurance Subsidiary that are specifically allocated to and designated for the risks insured against of, or the liabilities that may be owed to, a specific insured or beneficiary,
including but not limited to: (i) unincorporated protected insurance cells; (ii) incorporated insurance cells; (iii) collateralization mechanisms including but not limited to trusts; (iv) letters of credit; and (v) separate
accounting entries on a subsidiary insurer’s financial records, (i) [reserved], (j) surplus notes which are permitted to be included, in whole or in part, as capital and surplus of an Insurance Subsidiary as approved and permitted by
the applicable insurance regulator (k) Financial Indebtedness (including Capitalized Lease Obligations, mortgage financings or purchase money obligations), incurred by the GMHI Group for the purpose of financing or reimbursing all or any part
of the purchase price or cost of fixed or capital assets and, in each case, incurred in the ordinary course of business consistent with past practices, (l) the honoring by a bank or other financial institution of a check, draft or similar
instrument, (m) owed to banks and other financial institutions by the GMHI Group in connection with ordinary banking arrangements to provide treasury services or to manage cash balances of the Issuer and its Subsidiaries, (n) by an
Insurance Subsidiary in connection with investments consistent with its board-approved investment policies and in each case, incurred in the ordinary course of business consistent with past practices, (o) [reserved], (p) in respect of
letters of credit, whether or not drawn, and bankers’ acceptances and letters of guaranty issued for the account or upon the application or request of such Person, (q) the liabilities (if any) of such Person in respect of Swap Contracts
(incurred in the ordinary course of business consistent with past practices and for non-speculative purposes) as determined by reference to the Swap Termination Value thereof, (r) building leases and (s) loss reserves for insurance
purposes in the ordinary course of business. 

  
 18 

 “Organization Documents” means (i) with respect to any corporation,
the certificate or articles of incorporation, the bylaws, any certificate of designation or instrument relating to the rights of preferred shareholders of such corporation, any shareholder rights agreement, and all applicable resolutions of the
board of directors (or any committee thereof) of such corporation, (ii) with respect to any limited liability company, the certificate or articles of formation or organization and operating agreement, and all applicable resolutions or consents
of the governing body (or any committee thereof) of such limited liability company and (iii) with respect to any partnership, joint venture, trust or other form of business entity, the partnership, joint venture or other applicable agreement of
formation or organization and any agreement, instrument, filing or notice with respect thereto filed in connection with its formation or organization with the applicable Governmental Authority in the jurisdiction of its formation or organization
and, if applicable, any certificate or articles of formation or organization of such entity, and all applicable resolutions or consents of the governing body (or any committee thereof). 

“Payment Demand” means an “Interim Payment Demand” or “Final Payment Demand”, as applicable, in each case
as such terms are defined in the Settlement Agreement. 
 “Permitted Refinancing” means, with respect to any Person, any
refinancing, refunding, renewal, replacement, exchange or extension of any Indebtedness (“Refinanced Indebtedness”) of such Person; provided that, with respect to the Indebtedness that is the result of such refinancing,
refunding, renewal, replacement, exchange or extension (the “Refinancing Indebtedness”) (a) such Refinancing Indebtedness is in an aggregate principal amount that does not exceed the principal amount (or, if issued with
original issue discount, the accreted value) of such Refinanced Indebtedness plus accrued interest, premium thereon (including any make-whole or other prepayment premium) and reasonable fees and expenses incurred in connection with such Refinancing
Indebtedness; (b) such Refinancing Indebtedness has a final maturity no sooner than, and a weighted average life to maturity no less than, such Refinanced Indebtedness; (c) if such Refinanced Indebtedness is subordinated (whether as to
payment or priority) to the Obligations, such Refinancing Indebtedness is subordinated to the Obligations to the same extent as the Refinanced Indebtedness; (d) no additional Liens, if any, are granted with respect to such Refinancing
Indebtedness unless such Liens are also provided to the Holder in accordance with Section 11.1(c) (if applicable) and the last paragraph of Section 11.2; (e) no additional Person is obligated, primarily or contingently, on such
Refinancing Indebtedness unless corresponding guarantees (with similar scope) are provided to the Holder in accordance with the last paragraph of Section 11.2; and (f) such Refinancing Indebtedness shall be on terms no more adverse in any
material respect to the Holder than the terms of such Refinanced Indebtedness. 
 “Permitted Swap Obligations” means all
obligations (contingent or otherwise) of GFI or any of its Subsidiaries existing or arising under Swap Contracts; provided that such obligations are (or were) entered into by such Person in the ordinary course of business for the purpose of
directly mitigating risks associated with liabilities, commitments or assets held by such Person, or changes in the value of securities issued by such Person in conjunction with a securities repurchase program not otherwise prohibited hereunder, and
not for purposes of speculation or taking a “market view”. 

  
 19 

 “Person” means any natural person, corporation, limited liability company,
trust, joint venture, association, company, partnership, Governmental Authority or other entity. 
 “PMIERs” means the
Private Mortgage Insurer Eligibility Requirements published by the Federal Home Loan Mortgage Corporation or Federal National Mortgage Association. 

“Policies” means all insurance policies (including mortgage insurance, life insurance and long-term care policies), financial
guarantees, separate account liabilities, annuity contracts, guaranteed interest contracts and funding agreements (including riders to any such policies or contracts, certificates issued with respect to group life insurance or annuity contracts and
any insurance contracts issued in connection with retirement plans or arrangements) and assumption certificates issued or to be issued (or filed pending current review by applicable Governmental Authorities) by any Insurance Subsidiary. 

“Pound Sterling” “Pound” and “£” means the lawful money of the United Kingdom. 

“Prepayment
 Agreement” means that certain Prepayment Agreement, dated as of February 25, 2021, by and among the Note Parties, the Holder, and Goldman Australia. 

“primary obligor” has the meaning set forth in the definition of Guarantee. 

“Proceeding” has the meaning set forth in Section 13.4(a). 

“Qualified Equity Interests” means Equity Interests which are not Disqualified Equity Interests. 

“Qualifying Debt Transactions” means one or more issuances or incurrences by any Note Party or any member of the GMHI Group of any Financial
Indebtedness (excluding (1) any Guarantees of Financial Indebtedness of a Note Party or a member of the GMHI Group, (2) Operating Indebtedness of any member of the GMHI Group, (3) Capitalized Lease Obligations, (4) a Permitted
Refinancing of Financial Indebtedness and (5) convertible debt securities that are mandatorily convertible into Equity Interests of GMHI upon an initial public offering of such Equity Interests) owing to a Person that is not GFI, its
Subsidiaries or any Affiliate of GFI or any of its Subsidiaries in a public offering, private placement or otherwise. 
 “Qualifying Equity
Transaction” means one or more sales or issuances by GFI or any of its Subsidiaries of any Qualified Equity Interests (or convertible debt securities that are mandatorily convertible into Equity Interests of GMHI upon an initial public
offering of such Equity Interests) of GMHI or any its Subsidiaries, in a public offering, private placement or otherwise. 

  
 20 

 “Qualifying Reinsurance Transaction” means any reinsurance transaction in
which any Insurance Subsidiary of GMHI cedes risks under mortgage insurance policies or contracts to a third party to the extent proceeds from such reinsurance transaction are retained by the ceding company and the transaction is entered into for
the purpose of managing insurance risk or supporting its overall capital position. 
 “Quantum Judgment” means any judgment delivered by
the High Court of Justice of England and Wales in respect of the dispute over the quantum of the Issuers’ liability that was heard in the High Court of Justice of England and Wales from 15 to 23 June 2020 under Claim No. CL-2017-000795.

 “Reinsurance Agreements” means any agreement, contract, treaty, certificate or other arrangement by which any Insurance
Subsidiary agrees to cede to, or assume from, another insurer all or part of the liability assumed or assets held by it under one or more insurance, annuity, reinsurance or retrocession policies, agreements, contracts, treaties, certificates or
similar arrangements. Reinsurance Agreements shall include, but not be limited to, any agreement, contract, treaty, certificate or other arrangement that is treated as such by the applicable Governmental Authority of such Insurance Subsidiary’s
jurisdiction of domicile. 
 “Related Indemnified Person” has the meaning set forth in Section 13.4(a). 

“Required
 Prepayment Amount” has the meaning set forth in Section 6.2(f)(i). 

“Required Retention Amount” means, at the time of any Qualifying Debt Transaction or Qualifying Equity Transaction, the
amount of cash or Cash Equivalents (as determined by the Issuers) that is necessary for GMICO to retain in order to (i) maintain 115% of PMIERs sufficiency or (ii) maintain a risk-to-capital ratio of less than 18:1, which, in the case of
clauses (i) and (ii), shall be calculated in accordance with the applicable PMIERs and applicable statutory accounting practices proscribed or permitted by the applicable insurance regulator, respectively, and in a manner consistent with past
practice. 
 “Requirement of Law” means, as to any Person, any law (statutory or common), treaty, rule or regulation or
determination of an arbitrator or of a Governmental Authority, in each case applicable to or legally binding upon the Person or any of its property to which the Person or any of its property is subject. 

  
 21 

 “Responsible Officer” means the chief executive officer, president, vice
president, chief financial officer, chief operating officer, chief administrative officer, secretary or assistant secretary, treasurer or assistant treasurer or other similar officer or Person performing similar functions of a Note Party. Any
document delivered hereunder that is signed by a Responsible Officer of a Note Party shall be conclusively presumed to have been authorized by all necessary corporate, partnership, limited liability company and/or other action on the part of such
Note Party and such Responsible Officer shall be conclusively presumed to have acted on behalf of such Note Party. 
 “Retained QDT
Proceeds” has the meaning set forth in Section 6.2(a). 
 “Retained QET Net Proceeds” has the meaning set
forth in Section 6.2(b). 
 “SEC” means the Securities and Exchange Commission. 

“Securities Act” means the Securities Act of 1933 and the regulations promulgated thereunder. 

“Senior Notes” means GHI’s (i) 7.200% Senior Notes due 2021, (ii) 7.625% Senior Notes due 2021,
(iii) 4.900% Senior Notes due 2023, (iv) 4.800% Senior Notes due 2024 and (v) 6.500% Senior Notes due 2034. 

“Senior Officer” means the chief executive officer, the chief financial officer or treasurer (or any Person that performs
substantively the same functions of the foregoing) of a Note Party. 
 “Settlement Agreement” means that certain Settlement
Agreement, by and among the Note Parties and the Holder, dated as of July 20, 2020. 
 “S&P” means
Standard & Poor’s Ratings Group, Inc. and its successors and assigns. 
 “Specified Persons” has the meaning
set forth in Section 8.1(f). 

“Specified
 Sale” means the sale of all GMA.AX Owned Shares (including, for the avoidance of doubt, the GMA.AX Pledged Shares) for an agreed price of no less than 2 AUD per GMA.AX Owned Share, consummated on or prior to April 15, 2021 pursuant to the
Block Trade Sale Agreement. 
 “Specified Sale Holdback Amount” has the meaning set forth in Section 6.2(f). 

“Specified
 Sale Proceeds” has the meaning set forth in Section 6.2(f). 

“Spot Rate” means, on any date with respect to any currency, the rate at which such currency may be exchanged into any
other currency, as set forth on such date on the 11:00 am Bloomberg FX Fixing Page for such currency (or any successor page thereto). In the event that such rate does not appear on such page or any successor page, the Spot Rate shall be the rate
determined by the Administrative Issuer to be the rate quoted by the person acting in such capacity as the spot rate for the exchange of one currency into another currency for purposes of GFI’s financial statements on the date two Business Days
prior to the date as of which the foreign exchange computation is made or if such rate cannot be computed as of such date such other date as the Holder and the Administrative Issuer shall reasonably determine is appropriate under the circumstances.

  
 22 

 “Sterling Equivalent” means, at any time, (a) with respect to any
amount denominated in Pound Sterling, such amount, and (b) with respect to any amount denominated in any currency other than Pound Sterling, the equivalent amount thereof in Pound Sterling as determined by the Administrative
Issuer at such time on the basis of the Spot Rate (determined as of the applicable date of determination) for the purchase of Pound Sterling with such
currency or as otherwise provided for pursuant to Section 6.2(f)(i). 
 “Subsidiary” of a Person means a corporation, partnership, joint venture,
limited liability company or other business entity (a) of which a majority of the shares of securities or other interests having ordinary voting power for the election of directors or other governing body (other than securities or interests
having such power only by reason of the happening of a contingency) are at the time beneficially owned, directly or indirectly, by such Person or (b) the management of which is otherwise controlled, directly or indirectly, through one or more
intermediaries, by such Person, to the extent such entity’s financial results are required to be included in such Person’s consolidated financial statements under GAAP. Unless otherwise specified, all references herein to a
“Subsidiary” or to “Subsidiaries” shall refer to a Subsidiary or Subsidiaries of each of the Issuers. 
 “Swap
Contract” means any agreement relating to any transaction (whether or not arising under a master agreement) that is a rate swap, basis swap, forward rate transaction, commodity swap, commodity option, equity or equity index swap or option,
bond, note or bill option, interest rate option, futures contract, forward foreign exchange transaction, cap, collar or floor transaction, currency swap, cross-currency rate swap, swaption, currency option, credit derivative transaction, replication
transaction or any other similar transaction (including any option to enter into any of the foregoing) or any combination of the foregoing, and any master agreement relating to or governing any or all of the foregoing. 

“Swap Termination Value” means, in respect of any one or more Swap Contracts, after taking into account the effect of any
legally enforceable netting agreement relating to such Swap Contracts, (a) for any date on or after the date such Swap Contracts have been closed out and termination value(s) determined in accordance therewith, such termination value(s) and
(b) for any date prior to the date referenced in clause (a), the amount(s) determined as the mark-to-market value(s) for such Swap Contracts as determined based upon one or more mid-market or other readily available quotations provided by any
recognized dealer in such Swap Contracts. 

  
 23 

 “Taxes” means all present or future taxes, duties, levies, imposts,
deductions, withholdings (including backup withholding), assessments, fees or other charges imposed by any Governmental Authority including interest, penalties and additions to tax. 

“Termination Date” means the date of payment in full in cash of the Obligations (including (x) any Future Loss Payment
Amounts added to the principal amount of the Note on or prior to such date and (y) the Future Loss Payoff Amount but (z) excluding any other contingent obligations in respect of which no claim has been asserted). 

“Threshold Amount” means $100,000,000 (or its equivalent). 

“Transaction Liens” mean the Liens granted by the Note Parties under the Collateral Documents. 

“Transactions” means, collectively, (a) the issuing of the Note on the Issue Date and the execution and delivery of Note
Documents to be entered into on the Issue Date and (b) the payment of fees and expenses in connection with the foregoing. 

“United States” and “U.S.” means the United States of America. 

“U.S. Guarantee and Collateral Agreement” means that certain U.S. Guarantee and Collateral Agreement entered into by the Note
Parties in favor of Holder on the date
hereofIssue Date. 

“U.S.
Dollar Equivalent Amount” means, at any time, (a) with respect to any amount denominated in US Dollars, such amount, and (b) with respect to any amount denominated in any currency other than US Dollars, the equivalent amount thereof
in US Dollars as determined by the Administrative Issuer at such time on the basis of the Spot Rate (determined as of the applicable date of determination) for the purchase of US Dollars with such currency or as otherwise provided for pursuant to
Section 6.2(b). 
 “US Life” means, as of any date of
determination, Genworth Life Insurance Company, a Delaware insurance company, and its Subsidiaries as of such date. 
 “Voting
Stock” of any Person means Equity Interests of such Person entitling the holders thereof (whether at all times or only so long as no senior class of stock or other relevant equity interest has voting power by reason of any contingency) to
vote in the election of the board of directors or similar governing body of such Person. 
 Section 2.2 Other Interpretative
Provisions. 
 With reference to this Note and each other Note Document, unless otherwise specified herein or in such other Note Document: 

  
 24 

 (a) The meanings of defined terms are equally applicable to the singular and plural forms of
the defined terms. 
 (b) The words “herein,” “hereto,” “hereof” and “hereunder” and words of similar
import when used in any Note Document shall refer to such Note Document as a whole and not to any particular provision thereof. 
 (c)
Article, Section, Exhibit and Schedule references are to the Note Document in which such reference appears. 
 (d) The term
“including” (and its correlatives) means by way of example and not as a limitation. 
 (e) The word “or” is not
exclusive. 
 (f) The term “documents” includes any and all instruments, documents, agreements, certificates, notices, reports,
financial statements and other writings, however evidenced, whether in physical or electronic form. 
 (g) The word “incur” (and
its correlatives) shall be construed to mean incur, create, issue, assume, become liable in respect of or suffer to exist. 
 (h) Unless the
context otherwise requires, the words “asset” and “property” shall be construed to have the same meaning and effect and to refer to any and all tangible and intangible assets and properties, including cash, Equity Interests,
securities, revenues, accounts, leasehold interests and contract rights. 
 (i) The word “will” shall be construed to have the same
meaning and effect as the word “shall”. 
 (j) Unless the context otherwise requires, any reference herein (A) to any Person
shall be construed to include such Person’s permitted successors and assigns and (B) to any Note Party shall be construed to include such Note Party as debtor and debtor-in-possession and any receiver or trustee for such Issuer or any
other Note Party, as the case may be, in any insolvency or liquidation proceeding. 
 (k) All references to any Governmental Authority, shall
include any other Governmental Authority that shall have succeeded to any or all of the functions thereof. 
 (l) Section headings herein and
in the other Note Documents are included for convenience of reference only and shall not affect the interpretation of this Note or any other Note Document. 

  
 25 

 (m) Wherever the phrase “to the knowledge” or words of similar import relating to
the knowledge or the awareness of any Senior Officer or Responsible Officer of a Note Party are used in this Note or any other Note Documents, such phrase shall mean and refer to, as applicable, (i) the actual knowledge of such Person or
(ii) the knowledge that such Person would have obtained if such officer had engaged in good faith and diligent performance of such officer’s duties, including the making of such reasonably specific inquiries as may be necessary of the
employees or agents of such Note Party. 
 (n) All covenants hereunder shall be given independent effect so that if a particular action or
condition is not permitted by any of such covenants, the fact that it would be permitted by an exception to, or otherwise within the limitations of, another covenant shall not avoid the occurrence of a Default if such action is taken or condition
exists. In addition, all representations and warranties hereunder shall be given independent effect so that if a particular representation or warranty proves to be incorrect or is breached, the fact that another representation or warranty concerning
the same or similar subject matter is correct or is not breached will not affect the incorrectness of a breach of a representation or warranty hereunder. 

(o) When payment of any obligation or the performance of any covenant, duty or obligation is stated to be due or performance required on a day
which is not a Business Day, the date of such payment or performance shall extend to the immediately succeeding Business Day and, in the case of any payment that accrues interest, interest thereon shall be payable for the period of such extension.

 Section 2.3 Accounting Terms. 

All accounting terms not specifically or completely defined herein shall be construed in conformity with, and all financial data (including any financial
calculations) required to be submitted pursuant to this Note shall be prepared in conformity with, GAAP, except as otherwise specifically prescribed herein. 

Section 2.4 Payment Direction 
 So
long as AXA SA is the Holder, AXA SA may, upon at least one (1) Business Day’s prior notice to the Administrative Issuer, direct that any payment required to be made by any Note Party to the Holder be instead made to AXA France Vie or AXA
France IARD, for the account of AXA SA and which payment shall be deemed received by AXA SA for purposes of satisfying such payment requirement. 

  
 26 

 Section 2.5 References to Agreements, Laws, Etc. 

Unless otherwise expressly provided herein, (a) references to Organization Documents, agreements (including the Note Documents) and other contractual
instruments shall be deemed to include all subsequent amendments, restatements, amendment and restatements, extensions, supplements and other modifications thereto, but only to the extent that such amendments, restatements, amendment and
restatements, extensions, supplements and other modifications are not prohibited by the Note Documents; and (b) references to any Law (including by succession of comparable successor laws) shall include all statutory and regulatory provisions
consolidating, amending, replacing, supplementing or interpreting such Law. 
 Section 2.6 Times of Day. 

Unless otherwise specified, all references herein to times of day shall be references to Eastern time (daylight or standard, as applicable). 

Section 2.7 Administrative Issuer; Joint and Several Liability of the Issuers 

(a) Each Issuer hereby irrevocably appoints GFI as the agent and attorney-in-fact for the Issuers (the “Administrative
Issuer”) which appointment shall remain in full force and effect unless and until the Holder shall have received prior written notice signed by all of the Issuers that such appointment has been revoked and that another Issuer has been
appointed Administrative Issuer. Each Issuer hereby irrevocably appoints and authorizes the Administrative Issuer (i) to provide to the Holder and receive from the Holder all notices and instructions under this Note or the other Note Documents
and (ii) to take such action as the Administrative Issuer deems appropriate on its behalf in connection with the Note Documents and to exercise such other powers as are reasonably incidental thereto to carry out the purposes of this Note and
the other Note Documents. 
 (b) Each Issuer hereby accepts joint and several liability hereunder and under the other Note Documents in
consideration of the accommodations provided by the Holder under the Settlement Agreement, this Note and the other Note Documents, for the mutual benefit, directly and indirectly, of each of the Issuers and in consideration of the undertakings of
each other Issuer to accept joint and several liability for the Obligations. Each of the Issuers, jointly and severally, hereby irrevocably and unconditionally accepts, not merely as a surety but also as a co-debtor, joint and several liability with
the other Issuers, with respect to the payment and performance of all of the Obligations (including, without limitation, any Obligations arising under this Section 2.7), it being the intention of the parties hereto that all of the Obligations
shall be the joint and several obligations of each of the Issuers without preferences or distinction among them. If and to the extent that any of the Issuers shall fail to make any payment with respect to any of the Obligations as and when due or to
perform any of the Obligations in accordance with the terms thereof, then in each such event, the other Issuers will make such payment with respect to, or perform, such Obligation. Subject to the terms and conditions hereof, the Obligations of each
of the Issuers under the provisions of this Section 2.7 constitute the absolute and unconditional, full recourse Obligations of each of the Issuers, enforceable against each such Person to the full extent of its properties and assets,
irrespective of the validity, regularity or enforceability of the Settlement Agreement, this Note, the other Note Documents or any other circumstances whatsoever. 

  
 27 

 (c) The provisions of this Section 2.7 are made for the benefit of the Holder and its
successors and permitted assigns, and may be enforced by them from time to time against any or all of the Issuers as often as occasion therefor may arise and without requirement on the part of the Holder or such successors or permitted assigns first
to marshal any of its or their claims or to exercise any of its or their rights against any of the Issuers or to exhaust any remedies available to it or them against any of the Issuers or to resort to any other source or means of obtaining payment
of any of the Obligations hereunder or to elect any other remedy. The provisions of this Section 2.7 shall remain in effect until the Termination Date. 

(d) Each of the Issuers hereby agrees that it will not enforce any of its rights of contribution, recourse or subrogation against the other
Issuer with respect to any liability incurred by it hereunder or under any of the other Note Documents, any payments made by it to the Holder with respect to any of the Obligations or any Collateral, until the Termination Date. Any claim which any
Issuer may have against the other Issuer with respect to any payments to the Holder hereunder or under any other Note Documents are hereby expressly made subordinate and junior in right of payment, without limitation as to any increases in the
Obligations arising hereunder or thereunder, to the prior payment in full in cash of the Obligations. 
 ARTICLE 3 

REPAYMENT 
 Section 3.1
Repayment. 
 (a) The Issuers shall pay to the Holder an amount equal to £158,500,000 (the “First Installment
Amount”) on the First Installment Date (which payment shall, to the extent applicable, be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 6.3); provided that,
for the avoidance of doubt, upon the occurrence and during the continuation of an Event of Default, the Holder shall have the right to declare and cause the outstanding principal amount of this Note, together with all accrued and unpaid interest
thereon, and all other outstanding Obligations to become immediately due and payable as set forth in Section 8.2. 
 (b) The Issuers
shall pay to the Holder all outstanding principal under this Note (including amounts added to the principal pursuant to Section 3.2(a)), together with all accrued and unpaid interest thereon, on the Maturity Date; provided that, for the
avoidance of doubt, upon the occurrence and during the continuation of an Event of Default, the Holder shall have the right to declare and cause the outstanding principal amount of this Note, together with all accrued and unpaid interest thereon,
and all other outstanding Obligations to become immediately due and payable as set forth in Section 8.2. 

  
 28 

 Section 3.2 Future Loss Payment Amounts. 

(a) Any Future Loss Payment Amounts demanded pursuant to a Payment Demand in accordance with the Settlement Agreement prior to or on the
Termination Date shall be added to and increase the Aggregate Principal Amount of the Note on the date of such Payment Demand. 
 (b) For
U.S. federal income tax purposes, the parties agree that the payment demand of a Future Loss Payment Amount described in this Section 3.2 shall constitute a new and separate payment obligation between Issuers and Holders, and the addition of
any Future Loss Payment Amount to the outstanding principal amount shall be treated as an agreement by the Issuer to pay such additional amount to the Holders pursuant to the terms of this Note, and not as a reissuance of the Note for a different
principal amount. 
 ARTICLE 4 

INTEREST 
 Section 4.1
Interest. 
 (a) Interest shall accrue on the aggregate principal amount of this Note outstanding from time to time at a rate per
annum equal to 5.25 % per annum (the “Interest Rate”); provided that in the event that the principal amount of the Note shall have been prepaid or repaid in an amount equal to not less than the Sterling Equivalent of $200,000,000 (in the aggregate) on or prior
to June 30, 2021 in accordance with Section 6.1 (excluding pursuant to Section 6.1(b)) and/or Section 6.2, then, subject to Section 4.1(d), the interest rate per annum shall be reduced to 2.75%, for all interest accruing
after the date of such prepayment, and also applied retroactively to all interest having accrued prior to such date; provided that the aggregate amount of such interest rate reduction as it relates to interest that has already been paid prior
to such date (as calculated by the Issuers) shall be held by the Issuers as a credit that may be applied by the Issuers in their discretion (by written notice to the Holder) against future payments of principal and interest due under this Note (the
“Interest Rate Reduction Credit”). Notwithstanding anything to the contrary in this Note or any other Note Document that requires payment of interest or principal in cash, the Interest Rate Reduction Credit may be applied by the
Issuers in satisfaction of such payment. 
 (b) Interest under this Note shall accrue on the principal amount of this Note from and
including the Issue Date to but excluding the date of repayment of such principal amount. Interest under this Note shall be computed on the basis of a 360 day year for the actual number of days elapsed. 

(c) Interest accruing on the principal amount of this Note shall be payable in cash (i) quarterly in arrears on
March 31, June 30, September 30 and December 31 of each year, commencing September 30, 2020 and (ii) at maturity (whether upon demand, by acceleration or otherwise). 

  
 29 

 (d) To the fullest extent permitted by Law and notwithstanding anything to the contrary in
this Article 4, upon the occurrence and during the continuance of an Event of Default, the principal of, and all accrued and overdue unpaid interest under this Note, and any other outstanding Obligations of the Note Parties under this Note and the
other Note Documents, shall bear interest, from the date such Event of Default occurred until the date such Event of Default is cured or waived in writing in accordance herewith, at a rate per annum equal to 7.25%. Interest under this
Section 4.1(d) shall be payable from time to time on demand by the Holder. 
 ARTICLE 5 

CONDITIONS PRECEDENT 
 The issuance and
effectiveness of this Note and the entry and effectiveness of the other Note Documents is subject to the satisfaction or waiver by AXA of the conditions precedent set forth in Schedule 1 to the Settlement Agreement. 

ARTICLE 6 
 PREPAYMENTS 

Section 6.1 Optional Prepayment. 

(a) Upon not less than three (3) Business Days’ prior notice given to the Holder (or such shorter notice as the Holder may agree),
the Issuers, at their option, may prepay all or any portion of (x) the outstanding principal amount of this Note at any time without premium or penalty, by paying such amount to the Holder, together with any unpaid interest thereon accrued to
but excluding the date of such prepayment and (y) the Future Loss Payoff Amount. Any such notice may state that the prepayment set forth in such notice is conditioned upon the occurrence or non-occurrence of any event specified therein, in
which case such notice may be revoked, or the notice period therein may be extended, by the relevant Issuer if such condition is not satisfied. 

(b) To the extent that the Settlement Agreement or any other agreement in writing, entered into among the Holder, the Issuers and any other
party thereto, provides that payments thereunder are to be applied to reduce the Obligations under this Note, payments received by the Holder or on behalf of the Holder (including by AXA France Vie or AXA France IARD on the terms set forth in
Section 2.4 above) under such agreement shall be deemed a prepayment pursuant to this Section 6.1(b) and applied in accordance with Section 6.3. 

  
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 Section 6.2 Mandatory Prepayment. 

(a) Within five (5) Business Days of the consummation of any Qualifying Debt Transaction, the Issuers shall cause to be applied an amount
equal to the Sterling Equivalent of 80.0% of the total gross proceeds raised in respect of such Qualifying Debt Transaction against prepayment of any accrued and unpaid interest on, and outstanding principal amount, of this Note, together with the
Future Loss Payoff Amount; provided that GFI and its Subsidiaries shall be entitled to retain and exclude from the calculation and prepayment requirement above an amount (the “Retained QDT Proceeds”) from all Qualifying Debt
Transactions since the Issue Date not exceeding in the aggregate the sum of (A) the lesser of (x) $750,000,000 (or its dollar equivalent) and (y) the amount of such total gross proceeds that (1) are used or will be used to repay
GHI’s then outstanding 7.200% Senior Notes due 2021 and 7.625% Senior Notes due 2021, (2) are used or will be used to pay reasonable fees (including discounts, premiums and commissions), expenses, interest and other costs related to such
Qualifying Debt Transaction or the payoff of such Senior Notes and (3) are used or will be used to fund such other uses in a manner substantially consistent with the uses described by the Issuers to the Holder in writing prior to the Issue Date
(including any reserves established for any such uses) plus (B) the amount of any applicable Required Retention Amount; provided, further that in connection with any amounts constituting Retained QDT Proceeds, (x) at the time
of such determination no Event of Default has occurred and is continuing (or would result therefrom) and (y) the Administrative Issuer has, on or prior to the date of consummation of any Qualifying Debt Transaction, delivered a certificate
signed by a Senior Officer of the Administrative Issuer to the Holder with supporting evidence in reasonable detail as to the calculation of the Retained QDT Proceeds, including amounts retained pursuant to clause (A) above and the Required
Retention Amount set forth in clause (B) above and certifying that an amount equal to the Required Retention Amount shall be contributed to GMICO to avoid a capital deficiency giving rise to the Required Retention Amount. It is understood and
agreed that to the extent the Issuers or any of their Subsidiaries no longer need or intend in good faith to so apply any amounts constituting Retained QDT Proceeds pursuant to clause (A)(y) or clause (B) above for the uses set forth therein
(including any such amounts held or reserved for such uses), such amounts no longer so needed or intended to be so applied shall be subject to prepayment pursuant to the calculation set forth in this clause (a) within five (5) Business
Days of such determination without giving regard to the previous retention of Retained QDT Proceeds by such amount. 

  
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 (b) Within five (5) Business Days of the consummation of any Qualifying Equity
Transaction, the Issuers shall cause to be applied an amount equal to the Sterling Equivalent of 100% of the total Net Cash Proceeds raised in respect of such Qualifying Equity Transaction against prepayment of any accrued and unpaid interest on and
outstanding principal amount of this Note, together with the Future Loss Payoff Amount; provided that GFI and its Subsidiaries shall be entitled to retain an amount (the “Retained QET Net Proceeds”) from all Qualifying Equity
Transactions since the Issue Date not exceeding in the aggregate the sum of (A) the lesser of (x) $475,000,000
less the U.S. Dollar Equivalent Amount of the Specified Sale Holdback Amount (which for purposes of this
Section 6.2(b), shall be the equivalent amount of US Dollars determined on the basis of the contractual rate which the Note Parties were able to obtain for exchanges from AUD to US Dollars as of the Trade Date (as defined in the Block Trade
Sale Agreement) as has been certified to the Holder by the Administrative Issuer pursuant to
Section 6.2(f)(i)) and (y) the amount of such proceeds that (1) are used or will be used to repay GHI’s then outstanding 7.200% Senior Notes due 2021 and 7.625% Senior Notes
due 2021, (2) are used or will be used to pay reasonable fees (including discounts, premiums and commissions), expenses, interest and other costs related to the payoff of such Senior Notes and (3) without duplication of the amounts netted
pursuant to the definition of Net Cash Proceeds, are used or will be used to fund such other uses in a manner substantially consistent with the uses described by the Issuers to the Holder in writing prior to the Issue Date (including any reserves
established for any such uses) plus (B) the amount of any applicable Required Retention Amount; provided, further that in connection with any amounts constituting Retained QET Net Proceeds, (x) at the time of such
determination no Event of Default has occurred and is continuing (or would result therefrom) and (y) the Administrative Issuer has, on or prior to the date of consummation of any Qualifying Equity Transaction, delivered a certificate signed by
a Senior Officer of the Administrative Issuer to the Holder with supporting evidence in reasonable detail as to the calculation of the Retained QET Net Proceeds, including amounts retained pursuant to clause (A) above and the Required Retention
Amount set forth in clause (B) above and certifying that an amount equal to the Required Retention Amount shall be contributed to GMICO to avoid a capital deficiency giving rise to the Required Retention Amount. It is understood and agreed that
to the extent the Issuers or any of their Subsidiaries no longer need or intend in good faith to so apply any amounts constituting Retained QET Net Proceeds pursuant to clause (A)(y) or clause (B) above for the uses set forth therein (including
any such amounts held or reserved for such uses), such amounts no longer so needed or intended to be so applied shall be subject to prepayment pursuant to the calculation set forth in this clause (b) within five (5) Business Days of such
determination without giving regard to the previous retention of Retained QET Net Proceeds by such amount. 
 (c) Immediately upon the
occurrence of a Change of Control (or, in the case of clauses (b) and (c) of the definition thereof, within five (5) Business Days), the Issuers shall repay the outstanding principal amount of this Note, together with all accrued and
unpaid interest thereon, and all other outstanding Obligations (including, for the avoidance of doubt, the Future Loss Payoff Amount). 
 (d)
Upon the consummation or completion of the China Oceanwide Acquisition and solely to the extent that the China Oceanwide Acquisition results in at least $1,500,000,000 of capital contributions of which GFI and/or any of the Note Parties or their
respective Subsidiaries is in receipt or possession, the Issuers shall, as promptly as practicable in light of the Note Parties’ then existing liquidity needs (as determined by the Note Parties in good faith) after such receipt or possession
and in any event by June 30, 2022, cause to be applied such sums against prepayment in full of any accrued and unpaid interest on and all outstanding principal amount of this Note, together with the Future Loss Payoff Amount. 

  
 32 

 (e) Subject to and without duplication of any amounts required to be paid under
Section 6.2(a) and (b) above (it being understood, for the avoidance of doubt, that any dividends or other distributions made out of the proceeds of any Qualifying Debt Transaction or Qualifying Equity Transaction shall not give rise to
any mandatory prepayment under this clause (e), so long as mandatory payments are made to the extent required under Section 6.2(a) and (b) above), within five (5) Business Days of: 

(i) (x) receipt of any dividends or other distributions in respect of any GMHI Owned Shares (including any GMHI Pledged Shares) by any
Note Party (which will be deemed to be a pro rata dividend or distribution on all GMHI Owned Shares (including any GMHI Pledged Shares) whether or not in fact such dividend or distribution is pro rata), or (y) receipt by GFI or any of
Subsidiaries (other than members of the GMHI Group) of any proceeds of (1) any intercompany loan, note or advance made from a member of the GMHI Group or (2) the payment or prepayment by a member of the GMHI Group on any intercompany loan,
note or advance (whether by way of payment of principal or interest) made by GFI or any Subsidiaries (other than members of the GMHI Group) to a member of the GMHI Group, the Issuers shall cause to be applied an amount equal to the Sterling
Equivalent of 100% of the cash proceeds of such dividend, distribution, or amounts in respect of any intercompany note or advance (as if such amounts in respect of such intercompany note or advance were a pro rata distribution on all GMHI Owned
Shares (including the GMHI Pledged Shares)) against prepayment of any accrued and unpaid interest on and outstanding principal amount of this Note, together with the Future Loss Payoff Amount; 

(ii) any GMHI Distribution Equivalent Transaction that is not otherwise subject to subclause (i) above, the Note Parties shall be deemed
to have received a pro rata distribution on all GMHI Owned Shares (including any GMHI Pledged Shares) in cash in an amount equal to the Sterling Equivalent of 100% of the value of such GMHI Distribution Equivalent Transaction, and the Issuers shall
cause to be prepaid in cash in the amount of such deemed distribution any accrued and unpaid interest on and outstanding principal amount of this Note, together with the Future Loss Payoff Amount; 

provided, that notwithstanding any requirement to make any payments referred to in clauses (e)(i) and (e)(ii) above, so long as no Event
of Default has occurred and is continuing (or would result therefrom), GFI and its Subsidiaries shall be entitled (x) in the case of clause (e)(i)(x) above, to retain proceeds of dividends or other distributions attributable after giving effect
to any pro rata allocation to the GMHI Owned Shares (other than the GMHI Pledged Shares), and not pay to the Holder, and (y) in the case of clause (e)(i)(y) and (e)(ii) above, with respect to the amounts attributable to the GMHI Owned Shares
(excluding the GMHI Pledged Shares), to not pay to the Holder, in an aggregate amount across clauses (x) and (y) retained and/or not paid over not exceeding $50,000,000 (or the equivalent thereof) in each of the fiscal years ending
December 31, 2021 and December 31, 2022. 

  
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 (f) Within five (5) Business Days of: 

(i) the
Specified Sale by any Note Party, the Issuers shall cause to be applied an amount equal to the Sterling Equivalent of the Required Prepayment Amount of the Net Cash Proceeds received by or on behalf of the Note Parties in respect of the Specified
Sale (including, for the avoidance of doubt, any “Advance Amount” as defined in the Block Trade Sale Agreement) (any such Net Cash Proceeds received in respect of the Specified Sale, the “Specified Sale Proceeds”) against
prepayment of any accrued and unpaid interest on and outstanding principal amount of this Note; provided that, for purposes of this clause (f)(i), the “Required Prepayment Amount” shall be determined as follows: 

(A)
 with respect to the first $200,000,000 of the Specified Sale Proceeds received by or on behalf of the Note Parties, the Required Prepayment Amount shall equal 100% of the Specified Sale Proceeds;

(B)
 with respect to the Specified Sale Proceeds in excess of $200,000,000 in the aggregate received by or on behalf of the Note Parties, but not in excess of $275,000,000, the Required Prepayment Amount shall equal 0% of the Specified Sale Proceeds
(and, for the avoidance of doubt, GFI and its Subsidiaries shall be entitled to retain the Specified Sale Proceeds referred to this in this clause (B) and not pay such amounts over to Holder); and 

(C)
 with respect to the Specified Sale Proceeds in excess of $275,000,000 in the aggregate received by or on behalf of the Note Parties, the Required Prepayment Amount shall equal 50% (and, for the avoidance of doubt, GFI and its Subsidiaries shall be
entitled to retain 50% of the Specified Sale Proceeds referred to in this clause (C) and not pay such amounts over to Holder) 

(the
aggregate amount of Specified Sale Proceeds retained by GFI and its Subsidiaries pursuant to this Section 6.2(f)(i) shall be collectively referred to as the “Specified Sale Holdback Amount”); provided, that for purposes of this
Section 6.2(f)(i), (1) “Sterling Equivalent” shall mean the equivalent amount of Pound Sterling determined on the basis of the contractual rate which the Note Parties are able to obtain for exchanges from AUD to
Pound Sterling as of the Trade Date (as defined in the Block Trade Sale Agreement) and (2) any reference to an amount of US Dollars shall mean the equivalent amount of AUD determined on the basis of the contractual rate which the Note Parties are able to obtain for exchanges from AUD to US Dollars as of the
Trade Date (as defined in the Block Trade Sale Agreement); provided, further, that the Administrative Issuer shall, on or prior to the date of any required payment under this clause (f)(i), deliver a certificate signed by a Senior Officer of
the Administrative Issuer to the Holder with supporting evidence in reasonable detail as to the calculation of the Specified Sale Holdback Amount; 

  
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(iii) any sale or other Disposition (other than the Specified Sale) of any GMA.AX Owned Shares (including
any GMA.AX Pledged Shares) by or on behalf of any Note
Party, the Issuers shall cause to be applied an amount equal to the Sterling Equivalent of 100% of the Net Cash Proceeds (assuming, for purposes of the determination of Net Cash Proceeds in the case of GMA.AX Owned Shares that are not GMA.AX Pledged
Shares, that such GMA.AX Owned Shares were sold or Disposed of for no less than fair market value (or at the actual price received if higher than fair market value) and 100% cash consideration) in respect of such sale or Disposition (and in the case
of any non pro rata sale or other Disposition (including pursuant to a share buyback) of GMA.AX Owned Shares, as if such sale or Disposition was made pro rata across all GMA.AX Owned Shares (including the GMA.AX Pledged Shares)) against prepayment
of any accrued and unpaid interest on and outstanding principal amount of this Note, together with the Future Loss Payoff Amount; and 

(iiiii) (x) receipt of any dividends or other distributions in respect
of any GMA.AX Owned Shares (including any GMA.AX Pledged Shares) by or on behalf of any Note Party (which will be deemed to be a pro rata dividend or distribution on all GMA.AX Owned Shares (including any GMA.AX Pledged Shares) whether or not in fact such dividend or distribution is pro rata) or
(y) receipt by GFI or any of Subsidiaries (other than members of the GMA.AX Group) of any proceeds of (1) any intercompany loan, note or advance made from a member of the GMA.AX Group or (2) the payment or prepayment by a member of
the GMA.AX Group on any intercompany loan, note or advance (whether by way of payment of principal or interest) made by GFI or any Subsidiaries (other than members of the GMA.AX Group) to a member of the GMA.AX Group, the Issuers shall cause to be
applied an amount equal to the Sterling Equivalent of 100% of the cash proceeds of such dividend, distribution, or amounts in respect of any intercompany note or advance (as if such amounts in respect of such intercompany note or advance were a pro
rata distribution on all GMA.AX Owned Shares (including the GMA.AX Pledged Shares)) against prepayment of any accrued and unpaid interest on and outstanding principal amount of this Note, together with the Future Loss Payoff Amount; 

  
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 provided, that, notwithstanding any requirement to make such payments referred to in clauses
(f)(iii) and
(f)(iiiii
) above, other than (x) in connection with any sale or other Disposition in connection with a tender offer made for the GMA.AX Owned Shares that GHI and GFIH have accepted (in their discretion), or (y) if an Event of Default has occurred and is continuing, GFI
and its Subsidiaries shall be entitled to retain Net Cash Proceeds of sales and other Dispositions and/or proceeds of dividends or other distributions attributable after giving effect to any pro rata allocation to the GMA.AX Owned Shares (other than
the GMA.AX Pledged Shares), and not pay over to the Holder, in an aggregate amount retained equal to $50,000,000 (or the equivalent thereof) in each of the fiscal years ending December 31, 2021 and December 31, 2022. 

(g) WithinUnless the Disposition of all of the GMA.AX Owned Shares has occurred for which the provisions of Section 6.2(f) have
been complied with, within fourteen (14) days of the occurrence of a GMA.AX Prepayment Event which is continuing through the last day of such fourteen (14) day period, the Issuers shall
cause to be applied an amount equal to the Sterling Equivalent of the market price of the GMA.AX Pledged Shares (based on the trading price of GMA.AX shares on the Issue Date multiplied by the number of such GMA.AX Pledged Shares) against prepayment
of any accrued and unpaid interest on and outstanding principal amount of this Note. 
 Section 6.3 Application of
Payments. 
 Each optional or mandatory prepayment pursuant to Sections 6.1 and 6.2 shall be applied first, against the First Installment
Amount, if any remains unpaid, including all accrued and unpaid interest on the amount of principal so prepaid, second, against the then principal amount of this Note (including the Final Installment Amount and any Future Loss Payment Amounts
that have been added to the principal amount of the Note) due on the Maturity Date, including all accrued and unpaid interest on the amount of principal so prepaid, third, if such prepayment would reduce the outstanding principal amount of
this Note to zero, against the remaining Future Loss Payoff Amount, if any, and fourth, if such amounts in first through third have been reduced to zero, against any other outstanding Obligations. 

ARTICLE 7 
 PAYMENTS 

Section 7.1 Manner and Place of Payment. All payments under or in connection with this Note shall be made by 2:00 pm Eastern Time
on the date when due, in Pound Sterling and in immediately available funds, without condition or deduction for any counterclaim, defense, recoupment or setoff. All payments under or in connection with this Note shall be made by wire transfer of
immediately available funds to the account of the Holder identified on Schedule 7 hereto or to such other account as the Holder shall notify to the Administrative Issuer in writing from time to time. If any payment on this Note becomes due on
a day that is not a Business Day, then such payment shall be made on the next Business Day and such extension of time shall be included in computing interest in connection with such payment. All payments received by the Holder after 2:00 pm (Eastern
Time) shall be deemed received on the next succeeding Business Day and any applicable interest shall continue to accrue. 

  
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 Section 7.2 Withholding. 

(a) Any and all payments by or on account of any obligation of the Issuers hereunder shall be made without deduction or withholding for any
Taxes, except as required by applicable law. If any applicable law requires the deduction or withholding of any Tax from any such payment, then (i) the applicable payor shall be entitled to make such deduction or withholding and shall timely
pay the full amount deducted or withheld to the relevant Governmental Authority in accordance with applicable law and (ii) the sum payable by the Issuer shall be increased as necessary so that after such deduction or withholding has been made
(including such deductions and withholdings applicable to additional sums payable under this Section 7.2) the Holder receives an amount equal to the sum it would have received had no such deduction or withholding been made. 

(b) As of the date hereofIssue Date, each of AXA SA, AXA France Vie and AXA France IARD has
provided the Issuers a valid signed copy of IRS Form W-8-BEN-E evidencing a complete exemption from withholding Tax on interest and “Other Income”, together with any certificates or documentation necessary to support such exemption. In the
event any such form expires or becomes inaccurate, AXA SA shall promptly provide Issuer of notice, and shall cause AXA France Vie or AXA France IARD to, provide replacement copies of such forms or promptly notify the Issuers in writing of its legal
inability to do so. In the event of a transfer, assignment or participation pursuant to Section 13.6 hereof, the assignee, transferee or participant (as the case may be) shall provide each Issuer copies of any tax forms it is legally available
to provide that would reduce or eliminate the rate of withholding Tax on payments made hereunder. 
 (c) If any party determines, in
its sole discretion exercised in good faith, that it has received a refund of any Taxes as to which it has been indemnified pursuant to this Section 7 (including by the payment of additional amounts pursuant to this Section 7), it shall
pay to the indemnifying party an amount equal to such refund (but only to the extent of indemnity payments made under this Section 7 with respect to the Taxes giving rise to such refund), net of all out-of-pocket expenses (including Taxes) of
such indemnified party and without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund). Such indemnifying party, upon the request of such indemnified party, shall repay to such indemnified party
the amount paid over pursuant to this paragraph (c) (plus any penalties, interest or other charges imposed by the relevant Governmental Authority) in the event that such indemnified party is required to repay such refund to such Governmental
Authority. Notwithstanding anything to the contrary in this paragraph (c), in no event will the indemnified party be required to pay any amount to an indemnifying party pursuant to this paragraph (c) the payment of which would place the
indemnified party in a less favorable net after-Tax position than the indemnified party would have been in if the Tax subject to indemnification and giving rise to such refund had not been deducted, withheld or otherwise imposed and the
indemnification payments or additional amounts with respect to such Tax had never been paid. This paragraph shall not be construed to require any indemnified party to make available its Tax returns (or any other information relating to its Taxes
that it deems confidential) to the indemnifying party or any other Person. 

  
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 (d) The Holder shall provide the Issuers with any documentation or form reasonably required
by the Issuers as may be necessary for the Issuers to comply with FATCA. 
 ARTICLE 8 

DEFAULTS AND REMEDIES 

Section 8.1 Events of Default. 
 Any
of the following shall constitute an event of default (an “Event of Default”): 
 (a) Non-Payment. Any Note Party
fails to pay (i) when due as required to be paid herein, whether at the due date thereof or at a date fixed for prepayment or
otherwise (including, for the avoidance of doubt, any payment required to be made by or on behalf of any Note Party
pursuant to the Prepayment Agreement), any amount of principal of this Note, (ii) within five (5) days after the same becomes due, any interest or fee payable hereunder or under any
other Note Document; or (iii) within ten (10) days after the same becomes due, any other amount payable hereunder or under any Note Document; or 

(b) Specific Covenants.
(i) The applicable Note Party fails to (or, to the extent
applicable, fails to cause any Subsidiary to) perform or observe any term, covenant or agreement contained in any of Sections 10.3(a), 10.4(a) or 10.12(b) or Article 11; or (ii) a Return Transfer is not made within three (3) Business Days of the date required pursuant to
Section 1(b) of the Prepayment Agreement; or 
 (c) Other Defaults.
The applicable Note Party fails to perform or observe any other term, covenant or agreement (not specified in Section 8.1(a) or (b)) contained in this Note or any other Note Document, and such failure shall continue unremedied for a period of
thirty (30) days after the earlier of the date (x) a Senior Officer of any Note Party has knowledge of such failure and (y) upon which written notice thereof is given to the Administrative Issuer by the Holder; or 

  
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 (d) Representations and Warranties. Any representation or warranty made or deemed
made by or on behalf of any Note Party pursuant to any Note Document or in any certificate or other document furnished by (or on behalf of) the Issuers pursuant to any Note Document shall prove to have been incorrect in any material respect when
made or deemed made; or 
 (e) Cross-Default. (i) Any Note Party or any Subsidiary of a Note Party (except for GMA.AX and its
Subsidiaries) (A) fails to make any payment in respect of any Indebtedness (other than Swap Contracts and the Obligations) having an aggregate outstanding principal amount of more than the Threshold Amount (in the aggregate for all such
Indebtedness), when due (whether by scheduled maturity, required prepayment, acceleration, demand or otherwise) after giving effect to any applicable grace period; or (B) fails to perform or observe any other condition or covenant, or any other
event shall occur or condition exist, under any agreement or instrument relating to any such Indebtedness having an aggregate outstanding principal amount of more than the Threshold Amount (in the aggregate for all such Indebtedness) (and, in each
case, such failure or event continues after the applicable grace or notice period, if any, specified in the relevant document) if the effect of such failure, event or condition is to cause, or to permit the holder or holders of such Indebtedness or
beneficiary or beneficiaries of such Indebtedness (or a trustee or agent on behalf of such holder or holders or beneficiary or beneficiaries) to cause, such Indebtedness to be declared to be due and payable prior to its stated maturity; or
(ii) (w) an Event of Default (as defined in an applicable Swap Contract) occurs under any Swap Contract as to which any Note Party or any Subsidiary of a Note Party (except for GMA.AX and its Subsidiaries) is the Defaulting Party (as
defined in such Swap Contract) and the Non-defaulting Party (as defined under such Swap Contract) has designated an Early Termination Date (as defined in such Swap Contract) for all outstanding transactions under such Swap Contract as a result of
such Event of Default and (x) the Swap Termination Value is greater than the Threshold Amount (in the aggregate for all such Swap Contracts); provided that (A) any failure, event or condition described in this Section 8.1(e)
shall not at any time constitute an Event of Default unless, at such time, such failure, event or condition is unremedied and not waived by the holders of such debt and (B) this Section 8.1(e) shall not apply to secured debt that becomes
due as a result of the Disposition of the property or assets (as permitted hereunder) securing such debt; or 
 (f) Insolvency; Voluntary
Proceedings. Any Note Party,
GMA.AX, (unless the
Disposition of all of the GMA.AX Owned Shares has occurred for which the provisions of Section 6.2(f) have been complied with), GMHI or any Material Subsidiary of GFI (other than US Life)
(collectively, the “Specified Persons” and each, a “Specified Person”) (i) generally fails to pay, or admits in writing its inability to pay, its debts as they become due, subject to applicable grace periods,
if any, whether at stated maturity or otherwise; (ii) commences any Insolvency Proceeding with respect to itself; (iii) applies for or consents to the appointment of a receiver, interim receiver, trustee, monitor, custodian, conservator,
liquidator, mortgagee in possession (or agent therefor), or other similar Person for itself or for a substantial and material part of its assets, or (iv) takes any action to effectuate or authorize any of the foregoing; provided that,
for purposes of clarity, no liquidation, dissolution, reorganization or winding up of any Person (whether pursuant to a corporate or similar statute or a proceeding before a Governmental Authority or otherwise) which is voluntary and solvent (and
not, for purposes of clarity, as part of a settlement or compromise for the benefit of creditors) shall constitute an Event of Default to the extent not restricted by Section 11.4; or 

  
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 (g) Involuntary Proceedings. (i) Any involuntary Insolvency Proceeding is
commenced or filed against any Specified Person, or any writ, judgment, warrant of attachment, execution or similar process, is issued or levied against a substantial part of a Note Party’s properties, and any such proceeding or petition shall
not be dismissed, or such writ, judgment, warrant of attachment, execution or similar process shall not be released, vacated or fully bonded within sixty (60) days after commencement, filing or levy; (ii) any Specified Person admits the
material allegations of a petition against it in any Insolvency Proceeding, or an order for relief (or similar order under non-U.S. law) is ordered in any Insolvency Proceeding; (iii) any Specified Person acquiesces in the appointment of a
receiver, interim receiver, trustee, monitor, custodian, conservator, liquidator, mortgagee in possession (or agent therefor), or other similar Person for itself or a substantial and material portion of its property or business; (iv) any
Specified Person shall become subject to any conservation, rehabilitation or liquidation order, directive or mandate issued by any Governmental Authority; or (v) with respect to any Specified Person that is incorporated or organized in
Australia, an Australian Insolvency Event occurs to it; or 
 (h) Material Judgments. With the exception of the Quantum Judgment, one
or more judgments or decrees shall be entered against a Note Party involving in the aggregate a liability (to the extent not paid or covered by insurance as to which the relevant insurance company has not denied coverage) of the Threshold Amount or
more, and all such judgments or decrees shall not have been vacated, discharged, stayed or bonded pending appeal within sixty (60) days from the entry thereof, or any action shall be taken by a judgment creditor to attach or levy upon a
substantial and material part of the assets of any Note Party or any of their Subsidiaries to enforce any such judgment or decree; or 
 (i)
Invalidity of Note Documents. Any material provision of this Note or any other Note Document, at any time after its execution and delivery and for any reason, ceases to be in full force and effect; or any Note Party contests in writing the
validity or enforceability of any provision of this Note or any other Note Document or the validity or priority of a Lien as required by the Collateral Documents on any portion of the Collateral; or any Note Party denies in writing that it has any
or further liability or obligation purported to be created under this Note or any other Note Document, or purports in writing to revoke or rescind any Note Document; or 

  
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 (j) Collateral Documents. Any Collateral Document shall for any reason cease to create a
valid and perfected Lien, with the priority required by the Collateral Documents on and security interest in any portion of the Collateral purported to be covered thereby. For the avoidance of doubt, the following shall not constitute an Event of
Default under this Section 8.1(j): (i) a sale or other Disposition of the applicable Collateral in a transaction permitted under the Note Documents, (ii) the Holder’s failure to maintain possession of any stock certificates of
GMHI delivered to it or to file or continue any UCC or similar statements and (iii) the Holder’s or CHESS Participant’s termination of the Australian Tripartite Agreement. 

Section 8.2 Remedies Upon Event of Default. 

Upon the occurrence and during the continuance of any Event of Default, the Holder may take any or all of the following actions: 

(a) declare all or any portion of the aggregate principal amount of this Note then outstanding to be accelerated and due and payable, whereupon
all or such portion of such aggregate principal amount of this Note, all accrued and unpaid interest thereon, and all other Obligations (including the Future Loss Payoff Amount) shall become due and payable immediately, without presentment, demand,
protest or other notice of any kind, all of which are hereby expressly waived by the Issuers (to the extent not prohibited by applicable Law); 

(b) subject to the provisions set forth in the Collateral Documents, exercise all voting powers in respect of the GMHI Pledged Shares and
receive all dividends in respect of the GMHI Pledged Shares; and 
 (c) exercise any and all rights and remedies available to the Holder
hereunder or under the other Note Documents (or any other contract, agreement or instrument entered into in connection therewith), under applicable Laws or otherwise; 

provided, however, that upon the occurrence of any Event of Default described in Section 8.1(f) or (g), without any notice to any Note Party or
any other Person or any act by the Holder, the aggregate principal of this Note then outstanding, together with all accrued and unpaid interest thereon, and all other outstanding Obligations (including the Future Loss Payoff Amount) shall be
accelerated and become due and payable automatically and immediately, without presentment, demand, protest or other notice of any kind, all of which are expressly waived by the Issuers (to the extent not prohibited by applicable Laws). 

  
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 ARTICLE 9 

REPRESENTATIONS AND WARRANTIES 
 Each Issuer
hereby represents and warrants, on each of the Issue Date and the Amendment No. 1 Effective Date, to the Holder that:

 Section 9.1 Corporate Existence and Power. 

Each Note Party (a) is duly organized, validly existing and, to the extent relevant, in good standing (or its equivalent) under the laws of, and as
applicable in, the jurisdiction of its incorporation or organization; (b) has the requisite corporate (or other organizational) power and authority and all governmental licenses, authorizations, consents and approvals to own its assets and
carry on its business; (c) is duly qualified and in good standing under the laws of, and as applicable in, each jurisdiction where its ownership, lease or operation of property or the conduct of its business requires such qualification; and
(d) is in compliance with all Laws, except such Laws, or decrees as are being contested in good faith by appropriate proceedings; except, in each case referred to in clauses (b), (c) and (d), to the extent that the failure to do so,
individually or in the aggregate, would not reasonably be expected to have a Material Adverse Effect. 
 Section 9.2 Corporate
Authorization; No Contravention. 
 The Transactions
and Amendment No. 1 Transactions entered or to be entered
into by each Note Party are within its corporate or other organizational powers. The Transactions and Amendment
No. 1 Transactions (including, in each
case, the execution, delivery and performance by each Note Party of each
applicable Note Document to which it is a party) have been
duly authorized by all necessary corporate or other organizational action of each Note Party, and do not and will not: (a) contravene the terms of any of such Note Party’s Organization Documents; (b) conflict with or result in any
breach or contravention of, or result in or require the creation of any Lien (other than the Transaction Liens) under, any document evidencing any Contractual Obligation to which such Note Party is a party, except to the extent that such conflicts,
individually or in the aggregate, would not reasonably be expected to have a Material Adverse Effect or (c) violate any Requirement of Law or any order, injunction, writ or decree of any Governmental Authority to which such Note Party or its
property is subject, except to the extent that such violations, individually or in the aggregate, would not reasonably be expected to have a Material Adverse Effect. 

Section 9.3 Governmental Authorization. 

No approval, consent, exemption, authorization, or other action by, or notice to, or filing with, any Governmental Authority is necessary or required in
connection with the execution, delivery or performance by, or enforcement against, each Note Party of each Note Document to which it is a party or the granting of any Liens by any Note Party pursuant to the Note Documents, except (i) such as
have been obtained and are in full force and effect, (ii) filings necessary to perfect the Transaction Liens, (iii) such as may be required in accordance with applicable Laws in connection with realization on the Collateral and
(iv) those the failure of which to obtain or make would not reasonably be expected to have a Material Adverse Effect. 

  
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 Section 9.4 Binding Effect. 

This Note and each other Note Document has been duly executed and delivered by each Note Party party thereto and constitutes a legal, valid and binding
obligation of such Note Party, enforceable against such Note Party in accordance with its terms, except as may be limited by applicable bankruptcy, insolvency, or similar laws affecting the enforcement of creditors’ rights generally or by
equitable principles relating to enforceability, regardless of whether considered in a proceeding in equity or at law. 
 Section 9.5
Litigation. 
 Except as disclosed by GFI in its quarterly report on Form 10-Q for the fiscal quarter of GFI ended March 31, 2020, there are no
actions, suits, proceedings, claims or disputes pending or, to the knowledge of the Responsible Officers of the Issuers, threatened in writing, at law, in equity, in arbitration or before any Governmental Authority, against any of the Note Parties
or any of their respective properties that: (a) on each of
the Issue Date and the Amendment No. 1 Effective Date,
affects or pertains to this Note or any other Note Document or (b) there is reasonable likelihood of an adverse determination with respect to an Issuer and that, if adversely determined, individually or in the aggregate would reasonably be
expected to have a Material Adverse Effect. No injunction, writ, temporary restraining order or any order of any nature has been issued by any court or other Governmental Authority purporting to enjoin or restrain the execution, delivery or
performance of this Note or any other Note Document. 
 Section 9.6 No Default. 

No Default or Event of Default has occurred and is continuing. Without limiting the foregoing, no Default would result from the consummation of the
Transactions or the Amendment No. 1 Transactions. Neither any
of the Issuers nor any other Note Party is in default under or with respect to any Contractual Obligation in any respect that, individually or together with all such defaults, would reasonably be expected to have a Material Adverse Effect.

 Section 9.7 Margin Regulations. 

(a) No Note Party is engaged principally, or as one of its important activities, in the business of extending credit for the purpose of
purchasing or carrying Margin Stock. 
 (b) None of the Transactions will violate or result in a violation of the Securities Act of 1933, as
amended, or the Exchange Act, or regulations issued pursuant thereto, or Regulation T, U or X of the FRB. 
 (c) None of the Equity Interests
of GMHI or GMA.AX is Margin Stock. 

  
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 Section 9.8 Title to Collateral. 

Each Note Party is the sole (other than with respect to GMA.AX Pledged Shares, which are jointly held by GHI and GFIH), direct, legal and beneficial owner of
its Collateral and has rights in or the power to transfer its Collateral, and such Person’s or Persons’ title to its Collateral is free and clear of any Lien or any other restriction except the Liens permitted pursuant to
Section 11.1. 
 Section 9.9 Taxes. 

Each Note Party has timely filed all federal Tax and other Tax returns and reports required to be filed, and has paid all federal Tax and other Taxes levied or
imposed upon it or its properties, income or assets that have become due and payable (including in its capacity as a withholding agent), except those (i) that are not more than 30 days overdue, (ii) that are being contested in good faith
by appropriate proceedings and for which adequate reserves have been provided in accordance with GAAP, or (iii) where the failure to make such filing or payment would not reasonably be expected, individually or in the aggregate, to have a
Material Adverse Effect. 
 Section 9.10 Subsidiaries. 

(a) The Equity Interests of each of GHI, GFIH and GMHI (each a “Relevant Subsidiary”) and those constituting the GMA.AX Owned
Shares have, in each case, been duly authorized and validly issued and are fully paid and non-assessable. As of the date hereofIssue Date, there is no existing option, warrant, call right, commitment
or other agreement to which any Relevant Subsidiary is a party requiring, and there is no Equity Interests of any Relevant Subsidiary outstanding which upon conversion or exchange would require, the issuance by any such Relevant Subsidiary of any
additional Equity Interests of such Relevant Subsidiary, except equity compensation plans and other employee incentive schemes maintained for the benefit of officers, directors, employees and consultants of such Relevant Subsidiary. 

(b) Schedule 9.10(b) sets forth, in all material respects, the name of, and the ownership interest of GFI (or the applicable Subsidiary)
in, each of the other Note Parties, GMA.AX, GMHI and the Subsidiaries of GMHI and identifies the type of entity of each such Subsidiary, in each case as of the Issue
Date and as of the Amendment No. 1 Effective Date.

  
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 Section 9.11 Full Disclosure. 

(i) All written information (other than financial projections, budgets, estimates and information of a general economic or industry nature) provided to the
Holder and/or its Affiliates directly by or on behalf of the Issuers or the other Note Parties in connection with the Transactions
and the Amendment No. 1 Transactions was, as of the Issue
Date or the Amendment No. 1 Effective Date, correct in
all material respects and does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements contained therein not materially misleading in light of the circumstances under which such
statements were made and (ii) the financial projections relating to the Issuers or the other Note Parties provided by the Issuers or the other Note Parties to Holder in connection with the Transactions and the Amendment No. 1 Transactions were prepared in good faith
based upon assumptions that were believed by the preparer thereof to be reasonable at the time such financial projections were furnished to Holder and in light of the circumstances for which they were prepared, it being understood and agreed that
financial projections are as to future events, are not to be viewed as facts and are subject to significant uncertainties and contingencies, many of which are beyond the Issuers’ and the other Note Parties’ control, that no assurance can
be given that any particular projection will be realized, that financial projections are not a guarantee of financial performance and that actual results may differ significantly from financial projections and such differences may be material.

 Section 9.12 Solvency. 

(a) Immediately after giving effect to the Transactions to occur on the Issue Date, (a) the fair value of the assets of GHI and its
Subsidiaries, on a consolidated basis, at a fair valuation, will exceed their debts and liabilities, subordinated, contingent or otherwise; (b) GHI and its Subsidiaries, on a consolidated basis, do not intend to, and do not believe that they
will, incur debts or liabilities beyond their ability to pay such debts and liabilities as they mature; and (c) GHI and its Subsidiaries, on a consolidated basis, will not have unreasonably small capital with which to conduct the business in
which they are engaged as such business is conducted on the Issue Date. The amount of contingent liabilities at any time shall be computed as the amount that, in light of all the facts and circumstances existing at such time, represents the amount
that can reasonably be expected to become an actual or matured liability. 
 (b) Immediately after giving effect to the Amendment No. 1 Transactions to occur on the Amendment No. 1 Effective
Date, (a) the fair value of the assets of GHI and its Subsidiaries, on a consolidated basis, at a fair valuation, will exceed their debts and liabilities, subordinated, contingent or otherwise; (b) GHI and its Subsidiaries, on a
consolidated basis, do not intend to, and do not believe that they will, incur debts or liabilities beyond their ability to pay such debts and liabilities as they mature; and (c) GHI and its Subsidiaries, on a consolidated basis, will not have
unreasonably small capital with which to conduct the business in which they are engaged as such business is conducted on Amendment No. 1 Effective Date. The amount of contingent liabilities at any time shall be computed as the amount that, in
light of all the facts and circumstances existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability. 

  
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 Section 9.13 Security Interests. 

On the Issue Date, the Collateral Documents required to be delivered pursuant to the Collateral and Guaranty Requirement will create valid first priority
security interests in the Collateral. At all times thereafter, the Collateral Documents will create valid and perfected first priority security interests in the Collateral from time to time covered or purportedly covered thereby to the extent a
security interest in such Collateral may be perfected by filing a financing statement under the Uniform Commercial Code or the Australian PPSA or by establishing control in favor of the Holder. 

ARTICLE 10 
 AFFIRMATIVE COVENANTS

 Until the occurrence of the Termination Date, each Issuer covenants and agrees with the Holder that: 

Section 10.1 Quarterly Certificate. 

To the extent required by Section 11.6, the Administrative Issuer shall deliver an officer’s certificate from a Responsible Officer to the Holder
certifying to the matters required thereby, within 45 days (or such later time as agreed by the Holder in its discretion) after the end of each fiscal quarter of GFI. 

Section 10.2 Information. 
 The
Administrative Issuer shall furnish, or shall cause to be furnished to the Holder, promptly following any request therefor, such information regarding the operations, business affairs and financial condition of any Note Party, GMA.AX (unless the Disposition of all of the GMA.AX Owned Shares has occurred for which the provisions of Section 6.2(f) have
been complied with) or GMHI, or compliance with the terms of this Note, as the Holder may reasonably request, in each case to the extent (i) not prohibited by (y) applicable law or
(z) the provisions of any confidentiality agreement or other agreement, document or instrument binding upon the GFI or such Note Party or (ii) such information (x) is not subject to attorney client or similar privilege or does not
constitute attorney work product or (y) does not constitute trade secrets or proprietary information of GFI and its Subsidiaries and/or any customers or suppliers of the foregoing (clause (i) and (ii), collectively, the
“Information Restrictions”). 
 Section 10.3 Notices. 

The Administrative Issuer shall promptly notify the Holder: 

(a) of the occurrence of any Default or Event of Default; 

  
 46 

 (b) of any matter that has resulted in, or would reasonably be expected to result in, a
Material Adverse Effect, including any of the following that would reasonably be expected to have a Material Adverse Effect: (i) any dispute, litigation, investigation proceeding or suspension between GFI or any Note Party and any Governmental
Authority; (ii) the commencement of, or any material development in, any litigation (including any governmental proceeding or arbitration proceeding), tax audit or investigative proceeding, claim, lawsuit, and/or investigation against or
involving GFI or any of the Note Parties or any of its or their businesses or operations (excluding, for the avoidance of doubt, the Quantum Judgment); (iii) the expiration without renewal, revocation, suspension or restriction of, or the
institution of any proceedings to revoke, suspend or restrict, any License now or hereafter held by any Insurance Subsidiary which License is required to conduct its insurance business in compliance with all applicable laws and regulations;
(iv) the institution of any disciplinary proceedings against or in respect of any Insurance Subsidiary, or the issuance of any order, the taking of any action or any request for an extraordinary audit for cause by any Governmental Authority; or
(v) the issuance or adoption of any judicial or administrative order limiting or controlling the insurance business of any Insurance Subsidiary (and not the insurance industry generally). 

Each notice under this Section 10.3 shall be accompanied by a written statement by a Responsible Officer of the Administrative Issuer (i) that such
notice is being delivered pursuant to section 10.3(a) or (b), as applicable, and (ii) setting forth details of the occurrence referred to therein, and stating what action GFI or any other affected Note Party proposes to take with respect
thereto and at what time. 
 Section 10.4 Preservation of Existence, Etc. 

The Issuers shall, and shall cause each other Note Party to: 

(a) Preserve and maintain in full force and effect its existence and, to the extent relevant, good standing under the laws of its state or
jurisdiction of incorporation or organization as of the Issue Date, as applicable; and 
 (b) Preserve and maintain in full force and effect
all governmental rights, privileges, qualifications, permits, licenses and franchises necessary in the normal conduct of its business, except, in the case of this clause (b), where such failure to preserve and maintain would not, individually or in
the aggregate, reasonably be expected to have a Material Adverse Effect. 
 Section 10.5 [Reserved]. 

Section 10.6 [Reserved]. 

  
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 Section 10.7 Compliance with Laws. 

The Issuers shall, and shall cause each Note Party to, comply with all Laws of any Governmental Authority having jurisdiction over it or its business, except
for such noncompliance that would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

Section 10.8 Payment of Tax Obligations. 

The Issuers shall, and shall cause each Note Party to, pay and discharge as the same shall become due and payable, all Tax liabilities imposed upon it or its
properties or assets, except those (a) that are not more than 30 days overdue, (b) are being contested in good faith by appropriate proceedings and for which adequate reserves have been provided in accordance with GAAP or (c) the
failure of which to pay would not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect. 

Section 10.9 Maintenance of Books and Records. 

The Issuers shall, and shall cause each Note Party to, maintain proper books of record and account, in which full, true and correct entries in all material
respects shall be made of all financial transactions and matters involving the assets and business of such Issuer and such Note Party. 

Section 10.10 Information Regarding Note Parties. 

The Administrative Issuer will furnish, or cause to be furnished, to the Holder prompt written notice of any change in (i) any Note Party’s legal
name, (ii) any Note Party’s legal identity or corporate structure or (iii) any Note Party’s Federal Taxpayer Identification Number or organizational identification number (or equivalent), if applicable. 

Section 10.11 [Reserved]. 

Section 10.12 Collateral and Guarantees. 

(a) The Issuers shall be, and shall cause each Note Party to be, in compliance at all times with the Collateral and Guaranty Requirement. If,
in connection with an initial public offering or any other Qualifying Equity Transaction, the GMHI Owned Shares shall become uncertificated or otherwise modified form their current form, the Note Parties shall take all actions and establish
arrangements necessary or as otherwise reasonably requested by the Holder to ensure that the Transaction Liens on the GMHI Pledged Shares remain subject to a first-priority perfected security interest in favor of the Holder. 

(b) GHI and GFIH shall within seven (7) Business Days after the Issue Date (or such later date as agreed by the Holder) transfer the
GMA.AX Pledged Shares from the issuer sponsored holding to CHESS Holding (as defined in the Australian Tripartite Agreement) subject at all times to the Liens created under the Specific Security Deed. 

  
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 (c) Provided that no Default or Event of Default has occurred and is continuing, the
Administrative Issuer (on behalf of the relevant grantor) shall be entitled, in connection with any repayment or prepayment in a minimum amount of £10,000,000 (a “Minimum Repayment Event”) pursuant to Section 6.1 or
Section 6.2(a), (b), (e) or (f), to request the Holder release a portion of the Collateral constituting the GMHI Pledged Shares and/or(x) the GMA.AX Pledged Shares and (y) (so long as the GMHI Equity Transaction Condition has been, or concurrently with such release will be,
satisfied) the GMHI Pledged Shares, on the following basis: 
 (i) such
Collateral shall be reduced and released in an amount such that the Collateral Coverage Ratio calculated as of such date of such Minimum Repayment Event is at least 1.30:1.00, after giving effect to such release and the relevant payment; and 

(ii) all of the GMHI Pledged Shares shall be released from the Transaction Liens prior to the release of the GMA.AX Pledged Shares from the
Transaction Liens (unless the Administrative Issuer and the Holder otherwise agree), 
 and upon receipt by the Holder of any written
request in respect of a release of Collateral in satisfaction of the foregoing requirements (including (i) supporting evidence for the calculation of the Collateral Coverage Ratio at such time after giving effect to such payment and
(ii) in the case of any reduction of the GMHI Pledged Shares, delivery to the Holder of new duly authorized, issued and signed certificates representing the reduced number of GMHI Pledged Shares and replacement stock powers indorsed in blank),
at the cost and expense of the Issuers, the Holder shall execute such releases and other documents and take such other actions as the Administrative Issuer may reasonably request (including delivery by the Holder of such directions (including to the
CHESS Participant) as reasonably requested by the Administrative Issuer to effect the transfer of such excess number of GMA.AX common shares out of the GMA.AX Collateral Account) to evidence the release of the Liens on the GMHI Pledged Shares and/or
the GMA.AX Pledged Shares (as applicable) pursuant to this Section 10.12(c) in connection with such Minimum Repayment Event. 
 (d) If
at any time the number of ordinary outstanding shares in GMA.AX held with the CHESS Participant in the GMA.AX Collateral Account (and subject to the Australian Tripartite Agreement) is greater than the number of ordinary outstanding shares in GMA.AX
then constituting the GMA.AX Pledged Shares, then such excess number of GMA.AX shares shall be automatically released from the security over the Collateral created by the Collateral Documents (and the Holder will, following written request from the
Administrative Issuer, promptly instruct the CHESS Participant to transfer such shares out of the GMA.AX Collateral Account) and at such time the Note Parties shall, at its option, (x) pledge additional GMHI Owned Shares (excluding, for the
avoidance of doubt, GMHI Pledged Shares) in favor of AXA in an amount equal to the Collateral Value of such released GMA.AX Pledged Shares (or other collateral at agreed valuations as shall be agreed among the Holder and the Administrative Issuer)
or (y) make a prepayment of the outstanding principal amount of the Note in cash such that after giving effect to such prepayment the Collateral Coverage Ratio would not be less than 1.30:1.00. For the purposes of the Australian Collateral
Documents, the Holder consents to the release from the security constituted thereunder of any GMA.AX Pledged Shares referred to in this Section 10.12(d). In addition, if additional collateral is provided, the Note Parties shall take (or cause
the relevant grantors to take) all actions reasonably requested by the Holder to create or perfect the Liens over such collateral. 

  
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 Section 10.13 Further Assurances. 

(a) Each Issuer will, and will cause each other Note Party to, at the request of the Holder, execute and deliver any and all further documents,
financing statements, agreements and instruments, and take all such further actions (including the filing and recording of financing statements and other documents), that may be required under any applicable law to cause the Collateral and Guaranty
Requirement to be and remain satisfied, all at the Issuers’ expense in accordance with Section 13.7. The Issuers will provide the Holder, from time to time upon reasonable request, evidence reasonably satisfactory to the Holder as to the
perfection and priority of the Transaction Liens created or intended to be created by the Collateral Documents. 
 (b) The Issuers shall
otherwise take such actions and execute and/or deliver to the Holder such documents as the Holder shall reasonably require to confirm the validity, perfection and priority of the Lien of the Collateral Documents on such after-acquired properties,
including actions described in Section 10.13(a), all at the Issuers’ expense in accordance with Section 13.7. 

Section 10.14 Maintenance of Properties, Etc. 

The Issuers will, and will cause each other Note Party and the GMHI Group to, maintain or cause to be maintained in good repair, working order and condition,
ordinary wear and tear and casualty or condemnation excepted, all material properties used or useful in the business of such Issuer, such Note Parties and such members of the GMHI Group and from time to time will make or cause to be made all
appropriate repairs, renewals and replacements thereof, except where such failure would not, individually or in the aggregate, be reasonably expected to have a Material Adverse Effect. 

  
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 ARTICLE 11 

NEGATIVE COVENANTS 
 Until the occurrence of the
Termination Date, the Issuers covenant and agree with the Holder that: 
 Section 11.1 Liens. 

The Issuers shall not, and shall not permit any other Note Party to, create, assume or suffer to exist any Lien on any property now owned or hereafter acquired
by it, except for the following: 
 (a) the Transaction Liens (and any other Liens granted to secure the Obligations); 

(b) (i) Liens imposed by law for Taxes that are not required to be paid pursuant to Section 10.8; (ii) judgment Liens in respect
of judgments or securing appeal or other surety bonds relating to such judgements that do not constitute an Event of Default, (iii) Liens, including customary rights of set-off, revocation, refund or chargebacks under deposit or brokerage
account agreements or under the Uniform Commercial Code, insurance law or common law or other applicable law of banks or other financial institutions where such Person maintains accounts in the ordinary course of business, (iv) Liens on
insurance policies and the proceeds thereof securing the financing of the premiums with respect thereto, (v) [reserved] and (vi) Liens on property (other than Collateral) not securing Financial Indebtedness; 

(c) Liens on cash, Cash Equivalents, other securities or deposits, accounts or investment property (in each case, other than Collateral)
securing Permitted Swap Obligations; 
 (d) Liens securing Capitalized Lease Obligations permitted under Section 11.2(h) or listed on
Schedule 11.2; and 
 (e) Liens on property (other than the Collateral subject to Liens granted in favor of the Holder pursuant
to the Collateral Documents) securing Financial Indebtedness of any Note Party; provided that the Issuers have complied with the last paragraph of Section 11.2 below.  

Section 11.2 Financial Indebtedness. 

The Issuers shall not, and shall not permit any Note Party or any member of the GMHI Group to, incur, issue or at any time be liable with respect to any
Financial Indebtedness, except: 
 (a) this Note and the other Obligations; 

(b) the Senior Notes (and any Permitted Refinancing thereof); 

  
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 (c) Financial Indebtedness existing on the date hereofIssue
Date to the extent listed in Schedule 11.2 (and any Permitted Refinancing thereof); 

(d) (x) any Qualifying Debt Transaction and convertible debt securities issued pursuant to a Qualifying Equity Transaction, so long as the
Issuers have complied with Section 6.2 with respect to such Qualifying Debt Transaction or Qualifying Equity Transaction and (y) any Permitted Refinancing thereof; 

(e) unsecured Financial Indebtedness of a Note Party or any member of the GMHI Group owing to a Note Party or any Subsidiary of a Note Party
(subject in the case of any such Financial Indebtedness involving a member of the GMHI Group with a Person who is not a member of the GMHI Group to the prepayment requirements being satisfied as set forth in Section 6.2(e)(i)(y)); 

(f) Guarantees of Financial Indebtedness of any Note Party by any member of the GMHI Group; 

(g) Operating Indebtedness of any member of the GMHI Group; and 

(h) Capitalized Lease Obligations in an aggregate principal amount not to exceed at any time outstanding $10,000,000. 

If any Financial Indebtedness (other than the Obligations and Capitalized Lease Obligations) of the Note Parties is secured by a Lien on any assets of any
Person or receives the benefit of guarantees or is otherwise an obligation of any Note Party or other Person (including, for the avoidance of doubt, a full recourse guarantee or direct obligation of a Note Party or other Person) that the Holder does
not have (including as to scope of direct or guaranteed obligations), the Issuers shall concurrently with the incurrence or issuance of such Financial Indebtedness cause the Obligations to be subject to the benefit of the same group of obligors
(including as to scope of any such direct or guaranteed obligations) and secured by any such assets on the same basis as such Financial Indebtedness. If the Note Parties shall hereafter be required to cause the Obligations to be secured equally and
ratably with any Financial Indebtedness pursuant to this Section 11.2, the Administrative Issuer will promptly deliver to the Holder an officer’s certificate signed by a Responsible Officer to the effect that the foregoing covenant has
been complied with, and an opinion of counsel to the Administrative Issuer from counsel that is reasonably acceptable to the Holder to the effect that in the opinion of such counsel the foregoing covenant has been complied with and that any
instruments executed by the Note Party or any other Person in the performance of the foregoing covenant comply with the requirements of the foregoing covenant. 

  
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 Section 11.3 Disposition of Assets. 

The Issuers shall not, and shall not permit any Note Party or any member of the GMHI Group to, Dispose of (whether in one or a series of transactions) any
assets, except that: 
 (a) subject to the requirements set forth in Section 6.2, Dispositions of GMHI Owned Shares (including GMHI
Pledged Shares) and the GMA.AX Owned Shares (including the GMA.AX Pledged Shares) shall be permitted; provided, that, other than in the case of the GMA.AX Owned Shares (excluding the GMA.AX Pledged Shares), such Dispositions are for fair market
value and 100% of the consideration received in connection therewith shall consist of cash; 
 (b) (i) Dispositions of inventory and
equipment in the ordinary course of business, (ii) Dispositions of cash and Cash Equivalents and (iii) Dispositions of assets obtained through foreclosure or otherwise through the exercise of remedies in respect of obligations owed by a
third party to a member of the GMHI Group or otherwise in respect of mortgage loans insured by a member of the GMHI Group; 
 (c)
(i) Dispositions of investments by any Insurance Subsidiary (other than Equity Interests of Subsidiaries engaged in insurance lines of business) and (ii) Dispositions by GFI or any of its Subsidiaries of investments to the extent not
prohibited under this Note made in connection with the management of cash and/or Cash Equivalents in the ordinary course of business, in each case, consistent with the investment policy of such Insurance Subsidiary, GFI or such Subsidiary in effect
from time to time, as the case may be; provided that, for the avoidance of doubt, this clause (c) would not permit the Disposition of the GMA.AX Owned Shares and the GMHI Owned Shares; 

(d) Dispositions among GFI and its Subsidiaries; 

(e) the sale of property to the extent that such property is exchanged for credit against the purchase price of replacement property or the
proceeds of such sale are reasonably promptly applied to the purchase price of such replacement property; 
 (f) obsolete, surplus, worn out
or damaged property disposed of by such Issuer, Note Party or member of the GMHI Group in the ordinary course of their business; 
 (g)
transfers resulting from any casualty or condemnation or expropriation of property or assets; 
 (h) licenses or sublicenses of intellectual
property and general intangibles and licenses, leases or subleases of other property in the ordinary course of business of such Issuer, Note Party or member of the GMHI Group and which do not materially interfere with the business of such Issuer,
Note Party or member of the GMHI Group; 

  
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 (i) any Qualifying Equity Transaction, in each case, to the extent constituting a
Disposition provided that the relevant proceeds of such Qualifying Equity Transaction are applied, to the extent required, in accordance with Section 6.2; 

(j) (i) Dispositions of shares of Equity Interests in order to qualify members of the board of directors or equivalent governing body of
any Subsidiary or such other nominal shares issued to foreign nationals required to be held other than by GFI or such Subsidiary, as required by applicable law and (ii) issuances of Equity Interests pursuant to and in accordance with equity
compensation plans or programs and other benefit and compensation plans, programs or agreements for directors, officers, employees, managers or consultants of GFI and its Subsidiaries; 

(k) the sale, discount, forgiveness or other compromise of notes or other accounts in the ordinary course of business or in connection with
collection thereof; 
 (l) sale and lease back transactions in respect of any property acquired after the Issue Date, and consummated within
365 days after the acquisition of such property; 
 (m) [reserved]; 

(n) [reserved]; 
 (o) operating
leases entered into in the ordinary course of business; 
 (p) the surrender or waiver of contract rights or litigation rights or the
settlement, release or surrender of tort or other litigation claims of any kind; 
 (q) Dispositions of receivables in connection with the
compromise, settlement or collection thereof in the ordinary course of business or in bankruptcy or similar proceedings and exclusive of factoring or similar arrangements; 

(r) the transfer of improvements, additions or alterations in connection with the lease of any property; 

(s) Dispositions by Insurance Subsidiaries pursuant to statutory capital financings so long as such Disposition is entered into for the purpose
of managing insurance risk or capital; 
 (t) any other Disposition or series of related Dispositions for consideration not in excess of
$5,000,000 in each case; 
 (u) Dispositions of investments in joint ventures to the extent required by, or made pursuant to customary
buy/sell arrangements between, the joint venture parties set forth in joint venture arrangements and similar binding arrangements; 

  
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 (v) the creation, incurrence or assumption of any Lien permitted under Section 11.1
constituting, in whole or in part, a Disposition; and 
 (w) Dispositions by the Note Parties or any member of the GMHI Group of assets
(including, for the avoidance of doubt, Equity Interests but excluding Dispositions permitted by Section 11.3(a)); provided that with respect to any Disposition pursuant to this clause (w), such Dispositions shall be (1) for
fair market value and (2) to the extent involving a purchase price of greater than $5,000,000, at least 75.0% of the consideration received in connection therewith at closing shall consist of cash and Cash Equivalents (provided, that for
purposes of this clause (2), (A) any liabilities assumed by the transferee with respect to the applicable Disposition shall be deemed to be cash, (B) any securities received from such transferee that are converted into cash or Cash
Equivalents within 180 days following the closing of the applicable Disposition shall be deemed to be cash and (C) Designated Non-Cash Consideration received in respect of such Disposition having an aggregate fair market value, taken together
with all other Designated Non-Cash Consideration received pursuant to this clause (w) that is at that time outstanding, not in excess of $15,000,000, shall in each case be deemed to be cash). 

Section 11.4 Fundamental Changes; Changes in Ownership of Securities. 

No Note Party shall merge, consolidate, amalgamate, or sell all or substantially all of the assets of any such Note Party, or liquidate, wind up or dissolve
itself (or suffer any liquidation or dissolution), except: 
 (a) the China Oceanwide Acquisition shall be permitted; 

(b) any Disposition permitted under Section 11.3 shall be permitted; 

(c) any wholly-owned Subsidiary of any Note Party (other than GHI, GFIH, US Life, any member of the GMA.AX Group and any member of the GMHI
Group) may merge, consolidate or amalgamate with GFI, GHI or GFIH so long as (A) such Note Party gives the Holder at least ten (10) Business Days’ (or such shorter period as the Holder may agree in its sole discretion) prior written
notice of such merger, consolidation or amalgamation and promptly thereafter provides true, correct and complete copies of all material agreements, documents and instruments evidencing such merger, consolidation or amalgamation, including, without
limitation, the certificate or certificates of merger or amalgamation to be filed with each appropriate Secretary of State, (B) no Default or Event of Default shall have occurred and be continuing either before or after giving effect to such
transaction, (C) the Holder’s rights in any Collateral, including, without limitation, the existence, perfection and priority of any Lien thereon, are not adversely affected by such merger, consolidation or amalgamation and (D) if
such transaction involves an Issuer or GHI, such Issuer or GHI, as applicable, shall be the continuing or surviving entity following completion of such merger, consolidation or amalgamation; and 

  
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 (d) any Change of Control or any Disposition of GMHI Owned Shares or GMA.AX Owned Shares
shall be permitted so long as the Issuers have complied with Section 6.2. 
 Section 11.5 Restrictive Agreements. 

The Issuers shall not, and shall not permit any of the other Note Parties to, enter into or permit to exist any Contractual Obligation (other than this Note or
any other Note Document) that limits the ability of any Note Party to create, incur, assume or suffer to exist the Guaranty or Liens on the Collateral for the benefit of the Holder with respect to this Note and the Obligations or under the other
Note Documents. 
 Section 11.6 Transactions with Affiliates. 

The Issuers shall not, and shall not suffer or permit any of the Note Parties or any member of the GMHI Group to, enter into any transaction with any Affiliate
of GFI or GHI involving the payment or transfer or any property in excess of $2,000,000, other than: 
 (a) transactions no less favorable in
any material respect to such Issuer, Note Party or member of the GMHI Group than would be obtained in a comparable arm’s-length transaction with a Person not an Affiliate of such Issuer, Note Party or member of the GMHI Group; 

(b) [reserved]; 
 (c) transactions
between or among (x) the Note Parties and any of their respective Subsidiaries (excluding any member of the GMHI Group and the GMA.AX Group), (y) the members of the GMHI Group and (z) the members of the GMA.AX Group; 

(d) transactions between or among the Note Parties, any of their respective Subsidiaries (excluding the GMHI Group) and one or more members of
the GMHI Group, that are less favorable in any material respect to such members of the GMHI Group than would be obtained in a comparable arm’s-length transaction with Persons that are not Affiliates; provided that any value actually or
deemed received by any of the Note Parties or any of their respective Subsidiaries (excluding the GMHI Group) (whether in cash or “in kind” (valued by the Administrative Issuer in good faith) and in the case of services, to be received as
determined in the good faith reasonable judgment of the Administrative Issuer over the period of the applicable transaction) in excess of the amount of value received by any member of the GMHI Group (whether in cash or “in kind” (valued by
the Administrative Issuer in good faith) and in the case of services, to be received as determined in the good faith reasonable judgment of the Administrative Issuer over the period of the applicable transaction) on the date of the entry into such
transaction or contractual arrangement (or in the case of services, to be received as determined in the good faith reasonable judgment of the Administrative Issuer over the period of the applicable transaction) shall be deemed for purposes of
Section 6.2(e) to be a receipt of cash proceeds by the Note Parties from a pro rata distribution made on all GMHI Owned Shares; 

  
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 (e) the entering into, maintaining or performance of instruments or agreements related to or
in connection with an initial public offering by GMHI or its Subsidiaries that are customary in form and substance with similar contracts or agreements entered into in connection with SEC-registered initial public offerings of subsidiaries by
publicly traded parent companies; 
 (f) the entering into, maintaining or performance of any customary shared services or transition
services agreement related to or in connection with an initial public offering, provided the costs for such services shall be calculated in a manner consistent with the such Person’s past practice; 

(g) excluding such transactions involving any member of the GMHI Group, existing transactions evidenced by instruments or agreements in effect
on the Issue Date and continuations or extensions of, or immaterial modifications thereof; 
 (h) arrangements for indemnification payments
for directors and officers of the Note Parties and their Subsidiaries; 
 (i) intercompany transactions between or among the Note Parties,
their Subsidiaries and any joint venture, that are relating to the (1) provision of management services and other corporate overhead services, (2) provision of personnel to other locations within GFI’s consolidated group on a
temporary basis and (3) provision, purchase or lease of services, cash management services, operational support, assets, equipment, data, information and technology, that, in the case of any such intercompany transaction referred to in this
clause (i), are subject to reasonable reimbursement or cost-sharing arrangements (as determined in good faith by the Issuers), which reimbursement or cost-sharing arrangements may be effected through transfers of cash or other assets or through
book-entry credits or debits made on the ledgers of each involved Subsidiary; provided that any such intercompany transaction is either (x) entered into in the ordinary course of business or (y) otherwise entered into pursuant to
the reasonable requirements of the business of GFI, the Subsidiaries or such joint venture; 
 (j) ordinary course business transactions
(other than transactions of the type described in clause (d) or (f) above) that (A) do not involve the sale, transfer or other Disposition of operations or assets and (B) do not materially and adversely affect the Holder; 

(k) [reserved]; 

  
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 (l) employment and severance arrangements for and compensation, bonuses, stock options and
stock ownership plans and indemnification arrangements and benefit plans (and the making of payments, awards or grants in cash, securities or otherwise pursuant thereto or the funding thereof) for officers, directors, employees, managers and
consultants of GFI and its Subsidiaries approved by the board of directors or equivalent body of GFI or its Subsidiaries; 
 (m) the payment
of customary fees and reasonable out-of-pocket costs to, and indemnities provided on behalf of, directors, officers, employees, managers and consultants of GFI and its Subsidiaries in the ordinary course of business; 

(n) the furnishing of services by GFI or any Subsidiary (other than any member of the GMHI Group to any non-member of the GMHI Group) to or for
the benefit of GFI or any other Subsidiary in the ordinary course of business; 
 (o) transactions contemplated by the CO Merger Agreement as
in effect on the Issue Date, without giving effect to any amendment, supplement or modification to such agreement that would be materially adverse to the Holder; and 

(p) payments by the Note Parties and any member of the GMHI Group pursuant to any tax sharing agreements with the Note Parties and its
Subsidiaries to the extent directly attributable to the ownership or operation of such Notes Parties and the GMHI Group☐ 
 provided, that no
such transaction pursuant to clauses (a) or (d), individually or together with all such other transactions permitted pursuant to such clauses (a) and (d), results in a material decrease in the PMIERs capital sufficiency level or
risk-to-capital ratio of the GMICO, and the Issuers shall be required to deliver an officer’s certificate from a Responsible Officer to the Holder pursuant to Section 10.1 containing a certification that all such transactions entered into
during such fiscal quarter of GFI and permitted pursuant to clauses (a) or (d) have not resulted in such a material decrease. 

Section 11.7 Modification of Organization Documents and Certain Indebtedness. 

(a) The Issuers shall not, and shall not suffer or permit any of the other Note Parties or any member of the GMHI Group to, amend, modify or
otherwise change any of its Organization Documents (including enter into or modify any shareholders’ agreement) to the extent materially adverse to the interests of the Holder, other than any amendments or modifications, in connection with an
initial public offering of Equity Interests of GMHI, to the Organization Documents of GMHI which amendments shall be customary for public company subsidiaries as determined by the Administrative Issuer in good faith. 

  
 58 

 (b) The Issuers shall not, and shall not permit any of the other Note Parties to, amend,
modify, waive or otherwise change, or consent or agree to any amendment, modification, waiver or other change to, definitive documentation in respect of (x) any Senior Notes or (y) any Indebtedness of the Note Parties that is or is
required to be contractually subordinated in right of payment or with respect to security to the Obligations, in each case, in any manner adverse in any material respect to the Holder. 

ARTICLE 12 
 [Reserved] 

ARTICLE 13 
 OTHER PROVISIONS OF
GENERAL APPLICATION 
 Section 13.1 Amendment. 

No amendment of any provision of this Note shall be effective unless the same shall be in writing and signed by the Administrative Issuer and the Holder.
Except as otherwise expressly set forth herein, any failure of any Issuer to comply with any provision hereof may only be waived in writing by the Holder. No such waiver shall operate as a waiver of, or estoppel with respect to, any subsequent or
other failure. 
 Section 13.2 Notices. 

(a) All notices, demands or other communications required or permitted hereunder shall be delivered in writing, in each case to the address
specified below or to such other address as such party may from time to time specify in writing in compliance with this Section 13.2: 
  

	 	(i)	 If to the Issuers: 

Address: 6620 West Broad Street, Richmond, Virginia 23230 

Attention: Chief Financial Officer 

Telephone: +1 (804) 281-6321 

Email: Kelly.Grohdan.sheehan@genworth.com 

with a copy (which shall not constitute notice) to: 

Address: 6620 West Broad Street, Richmond, Virginia 23230 

Attention: General Counsel 

Telephone: +1 (804) 662-2560 

Email: Ward.Bobitz@genworth.com 

and 
 Address: 6620 West Broad
Street, Richmond, Virginia 23230 
 Attention: General Counsel, U.S. Life Division 

Telephone: +1 (804) 662-2272 

Email: Gregg.Karawan@genworth.com 

  
 59 

 and 

Address: Sidley Austin LLP, One South Dearborn, 1 S Dearborn St, Chicago, IL 60603 

Attention: Perry J. Shwachman 

Telephone: +1 (312) 853-7061 

Email: pshwachman@sidley.com 

	 	(ii)	 If to the Holder: 

Address: 25 avenue Matignon, 75008 Paris, France 

Attention: Helen Browne- Group General Counsel / Corporate Finance & Treasury Department - Back Office 

Telephone: +33 1 40 75 71 91 / + 33 1 40 75 57 77 / + 33 1 40 75 57 97 / +33 1 40 75 48 84 

Email: helen.browne@axa.com / DCFG_BackOffice@axa.com 

with a copy (which shall not constitute notice) to: 

Address: 919 Third Avenue c/o Debevoise & Plimpton LLP 

Attention: John Vasily 

Telephone: + 1 (212) 909-6647 

Email: jmvasily@debevoise.com 

(b) Notices if (i) mailed by certified or registered mail or sent by hand or overnight courier service shall be deemed to have been given
when received; (ii) sent by facsimile during the recipient’s normal business hours shall be deemed to have been given when sent (and if sent after normal business hours shall be deemed to have been given at the opening of the
recipient’s business on the next Business Day); and (iii) sent by email shall be deemed received upon the sender’s receipt of an acknowledgment of delivery from the intended recipient (such as by the “delivery receipt
requested” function, as available, return email, or other written acknowledgment). 
 Section 13.3 No Waiver; Cumulative
Remedies. 
 No failure by the Holder to exercise, and no delay by the Holder in exercising, any right, remedy, power or privilege hereunder or under any
other Note Document shall impair such right, remedy, power or privilege or operate as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the
exercise of any other right, remedy, power or privilege. The rights, remedies, powers and privileges herein provided, and provided under each other Note Document, are cumulative and not exclusive of any rights, remedies, powers and privileges
provided by Law. 

  
 60 

 Section 13.4 Indemnification by the Issuers. 

(a) The Issuers shall indemnify and hold harmless the Holder, the Affiliates of the Holder, and each of their respective officers, directors,
members, partners, employees, agents, advisors and other representatives of the foregoing (each, an “Indemnified Person”, and collectively, the “Indemnified Persons”) from and against any and all liabilities,
losses, damages, claims, or out-of-pocket expenses (including Attorney Costs but limited in the case of legal fees and expenses to the reasonable and documented out-of-pocket fees, disbursements and other charges of one external counsel to all
Indemnified Persons taken as a whole and, if reasonably necessary, one local counsel for all Indemnified Persons taken as a whole in each relevant jurisdiction, and solely in the case of a conflict of interest, one additional counsel in each
relevant jurisdiction to the affected Indemnified Persons similarly situated) of any kind or nature whatsoever which may at any time be imposed on, incurred by or asserted against any such Indemnified Person in any way relating to or arising out of
or in connection with any actual or prospective claim, litigation, investigation or proceeding relating to this Note or any other Note Document (but not, for the avoidance of doubt, the Settlement Agreement or any other agreement in writing between
the Issuers and the Holder), whether based on contract, tort or any other theory (including any investigation of, preparation for, or defense of any pending or threatened claim, investigation, litigation or proceeding) (a
“Proceeding”) and regardless of whether any Indemnified Person is a party thereto or whether or not such Proceeding is brought by the Issuers, any other Note Party or any other Person and, in each case, whether or not caused by or
arising, in whole or in part, out of the negligence of the Indemnified Person; provided that such indemnity shall not, as to any Indemnified Person, be available to the extent that such liabilities, losses, damages, claims or out-of-pocket
expenses (x) resulted from (A) the gross negligence, bad faith or willful misconduct of such Indemnified Person or of any of its Related Indemnified Persons or (B) a material breach of the obligations of such Indemnified Person or its
Related Indemnified Persons, in each case as determined by a final non-appealable judgment of a court of competent jurisdiction or (y) arise out of or is in connection with any claim, litigation, loss or proceeding not involving an act or
omission of the Issuers or the other Note Parties and that is brought by any Indemnified Person against another Indemnified Person. No Indemnified Person, Related Indemnified Person, the Issuers, any Note Party or any of the Affiliates of any of the
foregoing shall have any liability for any special, punitive, indirect or consequential damages relating to this Note or any other Note Document or arising out of its activities in connection herewith or therewith (whether before or after the Issue
Date). In the case of an investigation, litigation or other proceeding to which the indemnity in this Section 13.4(a) applies, such indemnity shall be effective whether or not such investigation, litigation or proceeding is brought by any Note
Party, any Subsidiary of any Note Party, its directors, stockholders or creditors or an Indemnified Person or any other Person, whether or not any Indemnified Person is otherwise a party thereto and whether or not any of the transactions
contemplated hereunder or under any of the other Note Documents are consummated. All amounts due under this Section 13.4(a) shall be paid within thirty (30) days after written demand therefor (together with backup documentation supporting
such reimbursement request); provided, however, that such Indemnified Person shall promptly refund such amount to the extent that there is a final judicial or arbitral determination that such Indemnified Person was not entitled to
indemnification rights with respect to such payment pursuant to the express terms of this Section 13.4(a). For the purposes of this Section 13.4(a), “Related Indemnified Person” of an Indemnified Person means (i) any
controlling Person or controlled Affiliate of such Person, (ii) the respective directors, officers or employees of such Person or any of its controlling Persons or controlled Affiliates and (iii) the respective agents or representatives of
such Person or any of its controlling Persons or controlled Affiliates, in the case of this clause (iii), acting on behalf of or at the instructions of such Person, controlling person or such controlled Affiliate. 

  
 61 

 (b) [reserved]. 

(c) All of the agreements in this Section 13.4 shall survive any replacement of or assignment by the Holder, the repayment and termination
of this Note and the repayment, satisfaction or discharge of all the other Obligations. 
 Section 13.5 Payments Set Aside. 

To the extent that any payment by or on behalf of a Note Party is made to the Holder, or the Holder exercises its right of setoff, and such payment or the
proceeds of such setoff or any part thereof is subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Holder in its discretion) to be repaid to a trustee,
receiver or any other party, in connection with any proceeding under any Debtor Relief Law or otherwise, then, to the extent of such recovery, the obligation or part thereof originally intended to be satisfied shall be revived and continued in full
force and effect as if such payment had not been made or such setoff had not occurred. 
 Section 13.6 Successors and Assigns;
Transfer. 
 (a) The term “Holder” and “Holders” as used herein shall also include any permitted assignee in whole of
this Note and any successor in interest to the Holder. To the extent of any such assignment by a Holder to a permitted assignee hereunder, upon receipt by the Administrative Issuer of the original Note in connection with such assignment, together
with written notice specifying the name of the proposed assignee, a new Note will promptly be executed and delivered by the Issuers, at their expense to the proposed assignee. 

  
 62 

 (b) In no event may the Issuers assign this Note or any of their rights or obligations
hereunder without the Holder’s prior written consent (which may be given or withheld in the Holder’s sole and absolute discretion). 

(c) The Holder may assign in whole (but not in part) this Note or any of its rights or obligations hereunder with the prior written consent of
the Administrative Issuer; provided that no consent of the Administrative Issuer shall be required for an assignment of all of the Note and the rights and obligations hereunder to an Affiliate of a Holder organized under the laws of England or Wales
or the Republic of France. 
 (d) All the covenants, stipulations, promises and agreements contained in this Note shall bind the
Issuers’ successors and assigns, whether or not so expressed. Subject to the foregoing restrictions, this Note shall inure to the benefit of and be binding upon the successors and permitted assigns of the Issuers and the Holder. 

(e) The Holder may at any time grant participations in any of its rights hereunder without the consent of the Issuers. Notwithstanding the
foregoing, no successor or assign shall be entitled to receive any greater payment under Section 7.2 than the Holder would have been entitled to receive pursuant to Section 7.2 in the absence of such transfer, assignment or participation.

 Section 13.7 Costs and Expenses. 

Each Issuer agrees (i) to pay or reimburse each Holder-Related Person for all reasonable and documented out-of-pocket costs and expenses incurred in
connection with the development, preparation, negotiation and execution of this Note, the other Note Documents and any amendment, waiver, consent or other modification of the provisions hereof and thereof (whether or not the transactions
contemplated hereby or thereby are consummated) and the consummation and administration of the transactions contemplated hereby and thereby, including all Attorney Costs, which Attorney Costs shall be limited to the reasonable, documented,
out-of-pocket fees and disbursements of (x) one primary counsel for Holder-Related Persons taken as a whole and (y) if reasonably necessary, one firm of additional local counsel in each relevant material jurisdiction (which may be a single
firm for multiple jurisdictions) and (ii) to pay or reimburse each Holder-Related Person for all reasonable and documented out-of-pocket costs and expenses incurred in connection with the enforcement, attempted enforcement or preservation of
any rights or remedies under this Note (including, but not limited to this Section 13.7), the other Note Documents (including all costs and expenses incurred during any “workout” or restructuring in respect of the Obligations and
during any legal proceeding, including any Insolvency Proceeding or appellate proceeding), including all reasonable, documented, out-of-pocket fees and expenses of external legal counsel, which legal counsel shall be limited to the reasonable,
documented, out-of-pocket fees and expenses of (x) one primary counsel for Holder-Related Persons taken as a whole and (y) if reasonably required by the Holder, one additional firm of local counsel for Holder- Related Persons taken as a
whole in each relevant material jurisdiction (which may be a single firm for multiple jurisdictions). The foregoing costs and expenses shall include all search, filing and recording costs. All amounts due under this Section 13.7 shall be due
and payable within thirty (30) days after written demand therefor together with backup documentation supporting such payment or reimbursement request. All of the agreements in this Section 13.7 shall survive any replacement of, or
permitted assignment by, the Holder, the repayment of and termination of this Note and the repayment, satisfaction or discharge of all the other Obligations (in each case solely with respect to such amounts arising prior to the date of such
replacement, assignment, repayment and termination, or repayment, satisfaction or discharge, as applicable). 

  
 63 

 Section 13.8 Replacement of Note. 

Upon receipt by the Administrative Issuer of an affidavit of an authorized representative of the Holder stating the circumstances of the loss, theft,
destruction or mutilation of this Note (and in the case of any such mutilation, on surrender and cancellation of such Note), the Issuers, at their expense, will promptly execute and deliver, in lieu thereof, a new original Note. 

Section 13.9 Setoff. 
 In addition to
any rights and remedies of the Holder provided by Law, upon the occurrence and during the continuance of any Event of Default, any of the Holder and its Affiliates is authorized at any time and from time to time, without prior notice to the Issuers,
any such notice being waived by the Issuers to the fullest extent permitted by applicable Law, to set off and apply any and all deposits (in whatever currency) at any time held by, and other Indebtedness at any time owing by, any of the Holder and
its Affiliates to or for the credit or the account of the Issuers against any and all Obligations owing to the Holder and its Affiliates hereunder or under any other Note Document, now or hereafter existing, irrespective of whether or not the Holder
or its Affiliate shall have made demand under this Note or any other Note Document and although such Obligations may be contingent or unmatured or denominated in a currency different from that of the applicable deposit or Indebtedness. The rights of
the Holder under this Section 13.9 are in addition to other rights and remedies (including other rights of setoff) that the Holder may have at Law. 

Section 13.10 Interest Rate Limitation. 

Notwithstanding anything to the contrary contained in any Note Document, the interest paid or agreed to be paid under the Note Documents shall not exceed the
maximum rate of non-usurious interest permitted by applicable Law (the “Maximum Rate”). If the Holder shall receive interest in an amount that exceeds the Maximum Rate, the excess interest shall be applied to the principal of this
Note or, if it exceeds such unpaid principal, refunded to the Issuers. In determining whether the interest contracted for, charged, or received by the Holder exceeds the Maximum Rate, the Holder may, to the fullest extent permitted by applicable
Law, (a) characterize any payment that is not principal as an expense, fee, or premium rather than interest, (b) exclude voluntary prepayments and the effects thereof, and (c) amortize, prorate, allocate, and spread in equal or
unequal parts the total amount of interest throughout the contemplated term of the Obligations hereunder. 

  
 64 

 Section 13.11 Waiver of Notice. 

Each Issuer hereby waives, to the fullest extent permitted by applicable Law, demand for payment, presentment for payment, protest, notice of payment, notice
of dishonor, notice of nonpayment, notice of acceleration of maturity, and diligence in taking any action to collect sums owing hereunder or any other Note Document. 

Section 13.12 Counterparts; Electronic Execution of Documents. 

This Note and each other Note Document (except, as to any other Note Document, as expressly set forth therein) may be executed in one or more
counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Delivery by telecopier, .pdf or other electronic imaging means of an executed counterpart of a signature page to this
Note and each other Note Document (except, as to any other Note Document, as expressly set forth therein) shall be effective as delivery of an original executed counterpart of this Note and such other Note Document. The Holder may also require that
any such documents and signatures delivered by telecopier, .pdf or other electronic imaging means be confirmed by a manually signed original thereof; provided that the failure to request or deliver the same shall not limit the effectiveness
of any document or signature delivered by telecopier, .pdf or other electronic imaging means. The words “execution,” “signed,” “signature,” and words of like import in amendment or other modification hereof (including
waivers and consents) shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a
paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act,
or any other similar state laws based on the Uniform Electronic Transactions Act. 
 Section 13.13 Integration;
Termination. 
 This Note, together with the other Note Documents, the Settlement Agreement and any other agreement in writing among the Issuers, the
Holder and any other party thereto that such parties expressly agree relate to the subject matter hereof, comprises the complete and integrated agreement of the parties on the subject matter hereof and thereof and supersedes all prior agreements,
written or oral, on such subject matter. In the event of any conflict between the provisions of this Note and those of any other Note Document, the provisions of this Note shall control; provided that the inclusion of supplemental rights or
remedies in favor of the Holder in any other Note Document shall not be deemed a conflict with this Note. Each Note Document was drafted with the joint participation of the respective parties thereto and shall be construed neither against nor in
favor of any party, but rather in accordance with the fair meaning thereof. 

  
 65 

 Section 13.14 Survival of Representations and Warranties. 

All representations and warranties made hereunder and in any other Note Document or other document delivered pursuant hereto or thereto or in connection
herewith or therewith shall survive the execution and delivery hereof and thereof, and shall continue in full force and effect as long as any Obligation (other than contingent indemnification obligations as to which no claim has been asserted) shall
remain unpaid or unsatisfied. 
 Section 13.15 Severability. 

If any provision of this Note or the other Note Documents is held to be illegal, invalid or unenforceable (a) the legality, validity and enforceability of
the remaining provisions of this Note and the other Note Documents shall not be affected or impaired thereby and (b) the parties shall endeavor in good faith negotiations to replace the illegal, invalid or unenforceable provisions with valid
provisions the economic effect of which comes as close as possible to that of the illegal, invalid or unenforceable provisions. The invalidity of a provision in a particular jurisdiction shall not invalidate or render unenforceable such provision in
any other jurisdiction. 
 Section 13.16 GOVERNING LAW. 

THIS NOTE AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS NOTE SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE
STATE OF NEW YORK, WITHOUT GIVING EFFECT TO ITS PRINCIPLES OR RULES OF CONFLICT OF LAWS TO THE EXTENT SUCH PRINCIPLES OR RULES ARE NOT MANDATORILY APPLICABLE BY STATUTE AND WOULD REQUIRE OR PERMIT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION.

  
 66 

 Section 13.17 Submission to Jurisdiction. 

Each party hereto hereby irrevocably and unconditionally: 

(a) submits for itself and its property in any legal action or proceeding relating to this Note and the other Note Documents (except, as to any
other Note Document, as expressly set forth therein) to which it is a party to the exclusive general jurisdiction of the Supreme Court of the State of New York for the County of New York (the “New York Supreme Court”), and the
United States District Court for the Southern District of New York (the “Federal District Court”, and together with the New York Supreme Court, the “New York Courts”) and appellate courts from either of them;
provided that nothing in this Note shall be deemed or operate to preclude (i) the Holder from bringing suit or taking other legal action in any other jurisdiction in connection with any Collateral Document (including, without limitation,
to realize on the Guaranty, the Collateral or any other security for the Obligations) (in which case any party shall be entitled to assert any claim or defense, including any claim or defense that this Section 13.17 would otherwise require to
be asserted in a legal action or proceeding in a New York Court), or to enforce a judgment or other court order in favor of the Holder, (ii) any party from bringing any legal action or proceeding in any jurisdiction for the recognition and
enforcement of any judgment, (iii) if all such New York Courts decline jurisdiction over any Person, or decline (or in the case of the Federal District Court, lack) jurisdiction over any subject matter of such action or proceeding, a legal
action or proceeding may be brought with respect thereto in another court having jurisdiction and (iv) in the event a legal action or proceeding is brought against any party hereto or involving any of its assets or property in another court
(without any collusive assistance by such party or any of its Subsidiaries or Affiliates), such party from asserting a claim or defense (including any claim or defense that this Section 13.17 would otherwise require to be asserted in a legal
proceeding in a New York Court) in any such action or proceeding; 
 (b) consents that any such action or proceeding may be brought in such
courts and waives any objection that it may now or hereafter have to the venue of any such action or proceeding in any such court or that such action or proceeding was brought in an inconvenient forum and agrees not to plead or claim the same; 

(c) (i) agrees that service of process in any such action or proceeding may be effected by mailing a copy thereof by registered or
certified mail (or any substantially similar form of mail), postage prepaid, to the notice address provided in Section 13.2; 
 (d)
agrees that nothing herein shall affect the right to effect service of process in any other manner permitted by law or (subject to clause (a) above) shall limit the right of the Holder to sue in any other jurisdiction; and 

(e) waives, to the maximum extent not prohibited by law, any right it may have to claim or recover in any legal action or proceeding referred
to in this Section 13.17 any consequential or punitive damages. 
 Section 13.18 WAIVER OF RIGHT TO TRIAL BY JURY. 

EACH PARTY HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN
ANY LEGAL ACTION OR PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS NOTE OR ANY OTHER NOTE DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY AND FOR ANY COUNTERCLAIM THEREIN, IN EACH CASE, WHETHER BASED ON CONTRACT,
TORT OR ANY OTHER THEORY. 

  
 67 

 Section 13.19 Judgment Currency. 

If, for the purpose of obtaining judgment in any court, it is necessary to convert a sum due hereunder or any other Note Document in one currency into another
currency, the rate of exchange used shall be that at which in accordance with normal banking procedures the Holder could purchase the first currency with such other currency on the Business Day preceding that on which final judgment is given. The
obligation of an Issuer in respect of any such sum due from it to the Holder hereunder or under the other Note Documents shall, notwithstanding any judgment in a currency (the “Judgment Currency”) other than that in which such sum
is denominated in accordance with the applicable provisions of this Note (the “Note Currency”), be discharged only to the extent that on the Business Day following receipt by the Holder of any sum adjudged to be so due in the
Judgment Currency, the Holder may in accordance with normal banking procedures purchase the Note Currency with the Judgment Currency. If the amount of the Note Currency so purchased is less than the sum originally due to the Holder from an Issuer in
the Note Currency, the Issuers agree, as a separate obligation and notwithstanding any such judgment, to indemnify the Holder against such loss. If the amount of the Note Currency so purchased is greater than the sum originally due to the Holder in
such currency, the Holder agrees to return the amount of any excess to the applicable Issuer (or to any other Person who may be entitled thereto under applicable Law). 

Section 13.20 Cancellation; Reinstatement. 

Upon the occurrence of the Termination Date, this Note shall be of no further effect and the Holder shall promptly upon the Administrative Issuer’s
written request mark this Note as cancelled and return the original Note to the Administrative Issuer; provided that, for the avoidance of doubt, the agreements of the Issuers under Section 13.4, 13.7 and 13.14 and any other
indemnification provision contained herein shall survive. Notwithstanding anything herein to the contrary, this Note and the other Note Documents, including the Guaranty and the security interests granted in connection herewith shall continue to be
effective, or be reinstated, as the case may be, if at any time payment or any part thereof, of any of the Obligations is rescinded or must otherwise be restored or returned by the Holder upon the insolvency, bankruptcy, dissolution, liquidation,
reorganization or similar proceeding under any Debtor Relief Laws of the Issuers or any other Note Party, or upon or as a result of the appointment of a receiver, intervenor or conservator of, or trustee or similar officer for, the Issuers or any
other Note Party or any substantial part of their property, or otherwise, all as though such payments had not been made. 

  
 68 

 Section 13.21 Confidentiality. 

The Holder shall maintain the confidentiality of all information provided to it by or on behalf of GFI or any Subsidiary under this Note or any other Note
Document, it being understood and agreed by the Note Parties that, in any event, the Holder may make disclosures thereof to the extent such information (i) was or becomes generally available to the public other than as a result of a breach of
this Section 13.21 by the Holder or its Affiliates and the partners, directors, officers, employees, agents and advisors of the Holder and of such Affiliates or was in the Holder’s possession (not in violation of any other provision of
this Section 13.21) or (ii) was or becomes available on a non-confidential basis from a source (other than the Note Parties or any of their Affiliates or any partners, directors, officers, employees, agents and advisors of the Note Parties
or of such Affiliates) not known after due inquiry by such Person to be prohibited from disclosing such information to such Person by a legal, contractual or fiduciary obligation; provided that the Holder may disclose such information (a) at
the request or pursuant to any requirement of any Governmental Authority or representative thereof to which the Holder is subject or in connection with an examination of the Holder by any such authority (in which case, except with respect to any
audit or examination conducted by bank accountants or any regulatory authority exercising examination or regulatory authority and to the extent practicable and not prohibited by law, such Person agrees to (i) use commercially reasonable efforts
to notify the Administrative Issuer of the proposed disclosure in advance of such disclosure and if unable to notify the Administrative Issuer in advance of such disclosure, such notice shall be delivered to the Administrative Issuer promptly
thereafter to the extent permitted by law and (ii) use commercially reasonable efforts to ensure that any such information so disclosed is accorded confidential treatment); (b) pursuant to subpoena or other court process; (c) when
required to do so in accordance with the provisions of any applicable Requirement of Law (in which case, except with respect to any audit or examination conducted by bank accountants or any regulatory authority exercising examination or regulatory
authority and to the extent practicable and not prohibited by law, such Person agrees to (i) use commercially reasonable efforts to notify the Administrative Issuer of the proposed disclosure in advance of such disclosure and if unable to
notify the Administrative Issuer in advance of such disclosure, such notice shall be delivered to the Administrative Issuer promptly thereafter to the extent permitted by law and (ii) use commercially reasonable efforts to ensure that any such
information so disclosed is accorded confidential treatment); (d) to the extent reasonably required in connection with any litigation or proceeding involving the Note Parties to which the Holder or its Affiliates may be party; (e) to the
extent reasonably required in connection with the exercise of any remedy hereunder or under any other Note Document; (f) to such Holder’s independent auditors and other professional advisors on a confidential basis; (g) to any
participant, actual or potential, or permitted assignee; provided that such Person agrees in writing to keep such information confidential to the same extent required of the Holder hereunder or on terms no less restrictive than those set
forth in this Section 13.21; and (h) to its Affiliates and to their respective officers, directors, employees, legal counsel, independent auditors and other advisors, or agents who need to know such information in connection with the
transactions contemplated hereby and are informed of the confidential nature of such information and are or have been advised of their obligation to keep information of this type confidential; provided, that such Person shall be responsible
for its Affiliates’ and such other Persons’ compliance with this subsection (h). In the case of confidential information received from GFI or any Subsidiary after the date hereofIssue
Date, such information shall be treated as confidential unless clearly identified at the time of delivery as non-confidential. 

[Remainder of Page Is Intentionally Left Blank] 

  
 69 

 IN WITNESS WHEREOF, the Issuers have executed and delivered this Note as of the date first above written.

  

			
	GENWORTH FINANCIAL, INC.
		
	By:	 	
                     

		 	Name:
		 	Title:
	
	GENWORTH FINANCIAL INTERNATIONAL HOLDINGS, LLC
		
	By:	 	  

		 	Name:
		 	Title

 [Signature Page to Secured Promissory Note] 

			
	Agreed, acknowledged and accepted
	as of the date first set forth above
	
	AXA SA
		
	By:	 	
                 

		 	Name:
		 	Title:

 [Signature Page to Secured Promissory Note] 

 Schedule 7 

to Secured Promissory Note 

Holder Account Information 
  

			
	Bank:	  	 [            ]

		
	Swift code:	  	[            ]
		
	In favour of:	  	[            ]
		
	Swift code:	  	[            ]
		
	Final beneficiary:	  	[            ]

  
 72 

 Schedule 9.10(b) 

to Secured Promissory Note 

Subsidiaries 
 As of the Issue Date and the Amendment No. 1 Effective Date:

  

									
	 Entity and Type
	  	Jurisdiction	  	 Ownership
	  	Percentage	  	Type of Subsidiary
	Genworth Holdings, Inc.	  	(DE)	  	Genworth Financial, Inc.	  	100%	  	Corporation
	Genworth Mortgage Holdings, Inc.	  	(DE)	  	Genworth Holdings, Inc.	  	100%	  	Corporation
	Genworth Mortgage Holdings, LLC	  	(NC)	  	Genworth Mortgage Holdings, Inc.	  	100%	  	Limited liability company
	Genworth Financial Services, Inc.	  	(DE)	  	Genworth Mortgage Holdings, LLC	  	100%	  	Corporation
	Genworth Mortgage Services, LLC	  	(NC)	  	Genworth Financial Services, Inc.	  	100%	  	Limited liability company
	Genworth Mortgage Insurance Corporation	  	(NC)	  	Genworth Mortgage Holdings, LLC	  	100%	  	Insurance company
	Genworth Financial Assurance Corporation	  	(NC)	  	Genworth Mortgage Holdings, LLC	  	100%	  	Insurance company
	Genworth Mortgage Reinsurance Corporation	  	(NC)	  	Genworth Mortgage Holdings, LLC	  	100%	  	Insurance company
	Monument Lane PCC, Inc.	  	(DC)	  	Genworth Mortgage Holdings, LLC	  	100%	  	Insurance company
	Sponsored Captive Re, Inc.	  	(NC)	  	Genworth Mortgage Holdings, LLC	  	100%	  	Insurance company
	Genworth Mortgage Insurance Corporation of North Carolina	  	(NC)	  	Genworth Mortgage Holdings, LLC	  	100%	  	Insurance company
	Monument Lane IC 1, Inc.	  	(DC)	  	Monument Lane PCC, Inc.	  	100%	  	Insurance company
	Monument Lane IC 2, Inc.	  	(DC)	  	Monument Lane PCC, Inc.	  	100%	  	Insurance company
	Genworth Financial International Holdings, LLC	  	(DE)	  	Genworth Holdings, Inc.	  	100%	  	Limited liability company
	Genworth Mortgage Insurance Australia Limited	  	(Australia)	  	Genworth Australian General Partnership (Australia)	  	51.95%	  	Corporation
	Genworth Australian General Partnership (Australia)	  	(Australia)	  	Genworth Financial International Holdings, LLC, as a partner in Genworth Australian General Partnership (Australia)	  	99.9%	  	General Partnership
	Genworth Australian General Partnership (Australia)	  	(Australia)	  	Genworth Holdings, Inc., as a partner in Genworth Australian General Partnership (Australia)	  	<0.1%	  	General Partnership

  
 73 

 Schedule 11.2 

to Secured Promissory Note 

Indebtedness 
  

	1.	 Genworth Holdings, Inc. has outstanding floating rate junior notes having an aggregate principal amount of $598
million, with an annual interest rate equal to three-month LIBOR plus 2.0025% payable quarterly, until the notes mature in November 2066. 

  

	2.	 Equipment lease among Edwards Business Machines, Inc., as Secured Party, and Genworth Financial, Inc. as the
Debtor, for which the collateral is a printer.Exhibit
4.1

	 

 

ENPHASE
ENERGY, INC.
 

AND
 

U.S. BANK NATIONAL ASSOCIATION,
 

as Trustee
 

INDENTURE
 

Dated as of March 1, 2021

 

0%
Convertible Senior Notes due 2026

	 

    

     

    

TABLE
OF CONTENTS

 

 

Page

 

	Article
    1 

    Definitions
	 
	Section
    1.01 .	Definitions	1
	Section
    1.02 .	References
    to Interest	13
	 	 	 
	Article
    2 

    Issue, Description, Execution, Registration and Exchange of Notes
	 
	Section
    2.01 .	Designation
    and Amount	13
	Section
    2.02 .	Form
    of Notes	13
	Section
    2.03 .	Date
    and Denomination of Notes; No Regular Interest; Payments of Special Interest and Defaulted Amounts	14
	Section
    2.04 .	Execution,
    Authentication and Delivery of Notes	16
	Section
    2.05 .	Exchange
    and Registration of Transfer of Notes; Restrictions on Transfer; Depositary	16
	Section
    2.06 .	Mutilated,
    Destroyed, Lost or Stolen Notes	22
	Section
    2.07 .	Temporary
    Notes	23
	Section
    2.08 .	Cancellation
    of Notes Paid, Converted, Etc	23
	Section
    2.09 .	CUSIP
    Numbers	24
	Section
    2.10 .	Additional
    Notes; Repurchases	24
	 	 	 
	Article
    3 

    Satisfaction and Discharge
	 
	Section
    3.01 .	Satisfaction
    and Discharge	24
	 	 	 
	Article
    4 

    Particular Covenants of
    the Company
	 
	Section
    4.01 .	Payment
    of Principal and Special Interest	25
	Section
    4.02 .	Maintenance
    of Office or Agency	25
	Section
    4.03 .	Appointments
    to Fill Vacancies in Trustee’s Office	26
	Section
    4.04 .	Provisions
    as to Paying Agent	26
	Section
    4.05 .	Existence	27
	Section
    4.06 .	Rule
    144A Information Requirement and Annual Reports	27
	Section
    4.07 .	Stay,
    Extension and Usury Laws	29
	Section
    4.08 .	Compliance
    Certificate; Statements as to Defaults	29
	Section
    4.09 .	Further
    Instruments and Acts	29

    i

     

    

	Article
    5 

    Lists of Holders and Reports by the Company and the Trustee
	 
	Section
    5.01 .	Lists
    of Holders	30
	Section
    5.02 .	Preservation
    and Disclosure of Lists	30
	 	 	 
	Article
    6 

    Defaults and Remedies
	 
	Section
    6.01 .	Events
    of Default	30
	Section
    6.02 .  	Acceleration;
    Rescission and Annulment	31
	Section
    6.03 .  	Special
    Interest	32
	Section
    6.04 .	Payments
    of Notes on Default; Suit Therefor	33
	Section
    6.05 .	Application
    of Monies Collected by Trustee	34
	Section
    6.06 .	Proceedings
    by Holders	35
	Section
    6.07 .	Proceedings
    by Trustee	36
	Section
    6.08 .	Remedies
    Cumulative and Continuing	36
	Section
    6.09 .	Direction
    of Proceedings and Waiver of Defaults by Majority of Holders	37
	Section
    6.10 .	Notice
    of Defaults	37
	Section
    6.11 .	Undertaking
    to Pay Costs	37
	 	 	 
	Article
    7 

    Concerning the Trustee
	 
	Section
    7.01 .	Duties
    and Responsibilities of Trustee	38
	Section
    7.02 .	Reliance
    on Documents, Opinions, Etc	40
	Section
    7.03 .	No
    Responsibility for Recitals, Etc	40
	Section
    7.04 .	Trustee,
    Paying Agents, Conversion Agents, Bid Solicitation Agent or Note Registrar May Own Notes	41
	Section
    7.05 .	Monies
    and Shares of Common Stock to Be Held in Trust	41
	Section
    7.06 .	Compensation
    and Expenses of Trustee	41
	Section
    7.07 .	Officer’s
    Certificate as Evidence	42
	Section
    7.08 .	Eligibility
    of Trustee	42
	Section
    7.09 .	Resignation
    or Removal of Trustee	42
	Section
    7.10 .	Acceptance
    by Successor Trustee	43
	Section
    7.11 .	Succession
    by Merger, Etc	44
	Section
    7.12 .	Trustee’s
    Application for Instructions from the Company	44
	 	 	 
	Article
    8 

    Concerning the Holders
	 
	Section
    8.01 .	Action
    by Holders	45
	Section
    8.02 .	Proof
    of Execution by Holders	45
	Section
    8.03 .	Who
    Are Deemed Absolute Owners	45
	Section
    8.04 .	Company-Owned
    Notes Disregarded	46
	Section
    8.05 .	Revocation
    of Consents; Future Holders Bound	46

    ii

     

    

	Article
    9 

    Holders’ Meetings
	 
	Section
    9.01 .	Purpose
    of Meetings	47
	Section
    9.02 .	Call
    of Meetings by Trustee	47
	Section
    9.03 .	Call
    of Meetings by Company or Holders	47
	Section
    9.04 .	Qualifications
    for Voting	47
	Section
    9.05 .	Regulations	48
	Section
    9.06 .	Voting	48
	Section
    9.07 .	No
    Delay of Rights by Meeting	49
	 	 	 
	Article
    10 

    Supplemental Indentures
	 
	Section
    10.01 .	Supplemental
    Indentures Without Consent of Holders	49
	Section
    10.02 .	Supplemental
    Indentures with Consent of Holders	50
	Section
    10.03 .	Effect
    of Supplemental Indentures	51
	Section
    10.04 .	Notation
    on Notes	51
	Section
    10.05 .	Evidence
    of Compliance of Supplemental Indenture to Be Furnished Trustee	52
	 	 	 
	Article
    11 

    Consolidation, Merger, Sale, Conveyance and Lease
	 
	Section
    11.01 .	Company
    May Consolidate, Etc. on Certain Terms	52
	Section
    11.02 .	Successor
    Corporation to Be Substituted	52
	Section
    11.03 .	Opinion
    of Counsel to Be Given to Trustee	53
	 	 	 
	Article
    12 

    Immunity of Incorporators, Stockholders, Officers and Directors
	 
	Section
    12.01 .	Indenture
    and Notes Solely Corporate Obligations	53
	 	 	 
	Article
    13 

    [Intentionally Omitted]
	 
	Article
    14 

    Conversion of Notes
	 
	Section
    14.01 .	Conversion
    Privilege	54
	Section
    14.02 .	Conversion
    Procedure; Settlement Upon Conversion	57
	Section
    14.03 .  	Increased
    Conversion Rate Applicable to Certain Notes Surrendered in Connection with Make-Whole Fundamental Changes or Redemption Notice	61
	Section
    14.04 .	Adjustment
    of Conversion Rate	63
	Section
    14.05 . 	Adjustments
    of Prices	72
	Section
    14.06 .	Shares
    to Be Fully Paid	72

    iii

     

    

	Section
    14.07 .	Effect
    of Recapitalizations, Reclassifications and Changes of the Common Stock	73
	Section
    14.08 .	Certain
    Covenants	74
	Section
    14.09 .	Responsibility
    of Trustee	75
	Section
    14.10 .	Notice
    to Holders Prior to Certain Actions	75
	Section
    14.11 .	Stockholder
    Rights Plans	76
	 	 	 
	Article
    15 

    Repurchase of Notes at Option of Holders
	 
	Section
    15.01 .	Intentionally
    Omitted	76
	Section
    15.02 .	Repurchase
    at Option of Holders Upon a Fundamental Change	76
	Section
    15.03 .	Withdrawal
    of Fundamental Change Repurchase Notice	79
	Section
    15.04 .	Deposit
    of Fundamental Change Repurchase Price	79
	Section
    15.05 .  	Covenant
    to Comply with Applicable Laws Upon Repurchase of Notes	80
	 	 	 
	Article
    16 

    Optional Redemption
	 
	Section
    16.01 .  	Optional
    Redemption	80
	Section
    16.02 .  	Notice
    of Optional Redemption; Selection of Notes	81
	Section
    16.03 .  	Payment
    of Notes Called for Redemption	82
	Section
    16.04 .  	Restrictions
    on Redemption	82
	 	 	 
	Article
    17 

    Miscellaneous Provisions
	 
	Section
    17.01 .	Provisions
    Binding on Company’s Successors	83
	Section
    17.02 .	Official
    Acts by Successor Corporation	83
	Section
    17.03 .	Addresses
    for Notices, Etc	83
	Section
    17.04 .	Governing
    Law; Jurisdiction	84
	Section
    17.05 .	Evidence
    of Compliance with Conditions Precedent; Certificates and Opinions of Counsel to Trustee	84
	Section
    17.06 .	Legal
    Holidays	85
	Section
    17.07 .	No
    Security Interest Created	85
	Section
    17.08 .	Benefits
    of Indenture	85
	Section
    17.09 .	Table
    of Contents, Headings, Etc	85
	Section
    17.10 .	Authenticating
    Agent	85
	Section
    17.11 .	Execution
    in Counterparts	86
	Section
    17.12 .	Severability	86
	Section
    17.13 .	Waiver
    of Jury Trial	86
	Section
    17.14 .	Force
    Majeure	86
	Section
    17.15 .	Calculations	87
	Section
    17.16 .  	U.S.A.
    Patriot Act	87
	Section
    17.17 .  	Tax
    Withholding	87

    iv

     

    

	EXHIBIT
	Exhibit
    A	Form
    of Note	A-1

    v

     

    

INDENTURE,
dated as of March 1, 2021, between ENPHASE ENERGY, INC., a Delaware corporation, as issuer (the “Company”,
as more fully set forth in ‎Section 1.01) and U.S. BANK NATIONAL ASSOCIATION, a national banking association, as trustee (the
 “Trustee”, as more fully set forth in ‎Section 1.01).

 

W
I T N E S S E T H:

 

WHEREAS,
for its lawful corporate purposes, the Company has duly authorized the issuance of its 0% Convertible Senior Notes due 2026 (the
 “Notes”), initially in an aggregate principal amount not to exceed $575,000,000 (as increased by an amount
equal to the aggregate principal amount of any additional Notes purchased by the Initial Purchasers pursuant to the exercise of
their over-allotment option as set forth in the Purchase Agreement), and in order to provide the terms and conditions upon which
the Notes are to be authenticated, issued and delivered, the Company has duly authorized the execution and delivery of this Indenture;
and

 

WHEREAS,
the Form of Note, the certificate of authentication to be borne by each Note, the Form of Notice of Conversion, the Form of Fundamental
Change Repurchase Notice and the Form of Assignment and Transfer to be borne by the Notes are to be substantially in the forms
hereinafter provided; and

 

WHEREAS,
all acts and things necessary to make the Notes, when executed by the Company and authenticated and delivered by the Trustee or
a duly authorized authenticating agent, as in this Indenture provided, the valid, binding and legal obligations of the Company,
and this Indenture a valid agreement according to its terms, have been done and performed, and the execution of this Indenture
and the issuance hereunder of the Notes have in all respects been duly authorized.

 

NOW,
THEREFORE, THIS INDENTURE WITNESSETH:

 

That
in order to declare the terms and conditions upon which the Notes are, and are to be, authenticated, issued and delivered, and
in consideration of the premises and of the purchase and acceptance of the Notes by the Holders thereof, the Company covenants
and agrees with the Trustee for the equal and proportionate benefit of the respective Holders from time to time of the Notes (except
as otherwise provided below), as follows:

 

Article
1

Definitions

 

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

    1

     

    

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

 

“Affiliate”
of any specified Person means any other Person directly or indirectly controlling or controlled by or under direct or indirect
common control with such specified Person. For the purposes of this definition, “control,” when used with respect
to any specified Person means the power to direct or cause the direction of the management and policies of such Person, directly
or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling”
and “controlled” have meanings correlative to the foregoing. Notwithstanding anything to the contrary herein, the
determination of whether one Person is an “Affiliate” of another Person for purposes of this Indenture shall
be made based on the facts at the time such determination is made or required to be made, as the case may be, hereunder.

 

“Bid
Solicitation Agent” means the Company or the Person appointed by the Company to solicit bids for the Trading Price of
the Notes in accordance with ‎Section 14.01(b)(i). The Trustee shall initially act as the Bid Solicitation Agent.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

    2

     

    

“Common
Stock” means the common stock of the Company, par value $0.00001 per share, at the date of this Indenture, subject to
 ‎Section 14.07.

 

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

 

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

 

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

 

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

 

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

 

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

 

“Conversion
Rate” shall have the meaning specified in ‎Section 14.01

 

“Corporate
Trust Office” means the designated office of the Trustee at which at any time this Indenture shall be administered,
which office at the date hereof is located at 1 California Street, Suite 1000, San Francisco, California 94111, Attention: Global
Corporate Trust Services or such other address as the Trustee may designate from time to time by notice to the Holders and the
Company, or the designated corporate trust office of any successor trustee (or such other address as such successor trustee may
designate from time to time by notice to the Holders and the Company).

 

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

 

“Daily
Conversion Value” means, for each of the 20 consecutive Trading Days during the Observation Period, 5.0% of the product
of (a) the Conversion Rate on such Trading Day and (b) the Daily VWAP for such Trading Day.

 

“Daily
Measurement Value” means the Specified Dollar Amount (if any), divided by 20.

 

“Daily
Settlement Amount,” for each of the 20 consecutive Trading Days during the Observation Period, shall consist of:

    3

     

    

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

 

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

 

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

 

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

 

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

 

“delivered”,
“given”, “mailed”, “notify”, or “sent”, with respect
to any notice to be delivered, given or mailed to a Holder pursuant to this Indenture, shall mean notice (x) given to the Depositary
(or its designee) pursuant to the standing instructions from the Depositary or its designee, including by electronic mail in accordance
with accepted practices or procedures at the Depositary (in the case of a Global Note) or (y) mailed to such Holder by first class
mail, postage prepaid, at its address as it appears on the Note Register (in the case of a Physical Note), in each case in accordance
with ‎Section 17.03. Notice so “delivered” shall be deemed to include any notice to be “mailed” or
 “given,” as applicable, under this Indenture.

 

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

 

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

 

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

 

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

    4

     

    

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

(b)       the
consummation of (A) any recapitalization, reclassification or change of the Common Stock (other than changes resulting from a
subdivision or combination) as a result of which the Common Stock would be converted into, or exchanged for, stock, other securities,
other property or assets; (B) any share exchange, consolidation or merger of the Company pursuant to which the Common Stock will
be converted into cash, securities or other property or assets; or (C) any sale, lease or other transfer in one transaction or
a series of transactions of all or substantially all of the consolidated assets of the Company and its Subsidiaries, taken as
a whole, to any Person other than one of the Company’s Wholly Owned Subsidiaries; provided, however, that
a transaction described in clause (A) or (B) in which the holders of all classes of the Company’s Common Equity immediately
prior to such transaction own, directly or indirectly, more than 50% of all classes of Common Equity of the continuing or surviving
corporation or transferee or the parent thereof immediately after such transaction in substantially the same proportions as such
ownership immediately prior to such transaction shall not be a Fundamental Change pursuant to this clause (b);

    5

     

    

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

“Initial
Purchasers” means Barclays Capital Inc., BofA Securities, Inc. and Goldman Sachs & Co. LLC.

    6

     

    

“Last
Reported Sale Price” of the Common Stock on any date means the closing sale price per share (or if no closing sale price
is reported, the average of the bid and ask prices or, if more than one in either case, the average of the average bid and the
average ask prices) on that date as reported in composite transactions for the principal U.S. national or regional securities
exchange on which the Common Stock is traded. If the Common Stock is not listed for trading on a U.S. national or regional securities
exchange on the relevant date, the “Last Reported Sale Price” shall be the last quoted bid price for the Common
Stock in the over-the-counter market on the relevant date as reported by OTC Markets Group Inc. or a similar organization. If
the Common Stock is not so quoted, the “Last Reported Sale Price” shall be the average of the mid-point of
the last bid and ask prices for the Common Stock on the relevant date from each of at least three nationally recognized independent
investment banking firms selected by the Company for this purpose.

 

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

 

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

 

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

 

“Maturity
Date” means March 1, 2026.

 

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

 

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

 

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

 

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

 

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

 

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

 

“Observation
Period” with respect to any Note surrendered for conversion means: (i) subject to clause (ii), if the relevant Conversion
Date occurs prior to the Observation Period Threshold Date, the 20 consecutive Trading Day period beginning on, and including,
the second Trading Day immediately succeeding such Conversion Date; (ii) if the relevant Conversion Date occurs on or after the
date of the Company’s issuance of a Redemption Notice with respect to the Notes pursuant to ‎Section 16.02 and prior
to the relevant Redemption Date, the 20 consecutive Trading Days beginning on, and including, the 21st Scheduled Trading
Day immediately preceding such Redemption Date; and (iii) subject to clause (ii), if the relevant Conversion Date occurs on or
after the Observation Period Threshold Date, the 20 consecutive Trading Days beginning on, and including, the 21st Scheduled Trading
Day immediately preceding the Maturity Date.

    7

     

    

“Observation
Period Threshold Date” means the date that is 25 Scheduled Trading Days preceding the Maturity Date.

 

“Offering
Memorandum” means the preliminary offering memorandum dated February 24, 2021, as supplemented by the related pricing
term sheet dated February 24, 2021, relating to the offering and sale of the Notes.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

    8

     

    

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

 

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

 

(e)       Notes
redeemed pursuant to ‎Article 16; and

 

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

 

“Partial
Redemption Limitation” shall have the meaning specified in ‎Section 16.02(d).

 

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

 

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

 

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

 

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

 

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

 

“Purchase
Agreement” means that certain Purchase Agreement, dated as of February 24, 2021, among the Company and the Initial Purchasers.

 

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

 

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

    9

     

    

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

 

“Redemption
Price” means, for any Notes to be redeemed pursuant to ‎Section 16.01, 100% of the principal amount of such Notes,
plus accrued and unpaid Special Interest, if any, to, but excluding, the Redemption Date (unless the Redemption Date falls
after a Special Interest Record Date but on or prior to the immediately succeeding Special Interest Payment Date, in which case
Special Interest, if any, accrued to the Special Interest Payment Date will be paid to Holders of record of such Notes as of the
close of business on such Special Interest Record Date, and the Redemption Price will be equal to 100% of the principal amount
of such Notes).

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

“Settlement
Method” means, with respect to any conversion of Notes, Physical Settlement, Cash Settlement or Combination Settlement,
as elected (or deemed to have been elected) by the Company, in accordance with Article 14.

 

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

 

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

    10

     

    

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

 

“Special
Interest Payment Date” means, if and to the extent that Special Interest is payable on the Notes, each March 1 and September
1 of each year, beginning on September 1, 2021.

 

“Special
Interest Record Date,” with respect to any Special Interest Payment Date, shall mean the February 15 or August 15 (whether
or not such day is a Business Day) immediately preceding the applicable March 1 and September 1 Special Interest Payment Date,
respectively.

 

“Specified
Dollar Amount” means, in respect of Notes as to which Combination Settlement applies, the maximum cash amount per $1,000
principal amount of such Notes to be received upon conversion as specified in the related Settlement Notice or as otherwise deemed
elected by the Company.

 

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

 

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

 

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

 

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

 

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

    11

     

    

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

Section
1.02. References to Interest. Any reference to interest on, or in respect of, any Note in this Indenture shall be deemed
to refer solely to Special Interest (if, in such context, Special Interest is, was or would be payable pursuant to any of ‎Section
4.06(d), ‎Section 4.06(e) and ‎Section 6.03) and to any interest payable on any Defaulted Amounts as set forth in Section
2.03(c).

    12

     

    

Article
2

Issue, Description, Execution, Registration and Exchange of Notes

 

Section
2.01. Designation and Amount. The Notes shall be designated as the “0% Convertible Senior Notes due 2026.”
The aggregate principal amount of Notes that may be authenticated and delivered under this Indenture is initially limited to $575,000,000
(as increased by an amount equal to the aggregate principal amount of any additional Notes purchased by the Initial Purchasers
pursuant to the exercise of their over-allotment option as set forth in the Purchase Agreement), subject to ‎Section 2.10
and except for Notes authenticated and delivered upon registration or transfer of, or in exchange for, or in lieu of other Notes
to the extent expressly permitted hereunder. The Notes to be issued on the date of this Indenture will be represented by one or
more Global Notes.

 

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

 

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

 

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

 

Each
Global Note shall represent such principal amount of the outstanding Notes as shall be specified therein and shall provide that
it shall represent the aggregate principal amount of outstanding Notes from time to time endorsed thereon and that the aggregate
principal amount of outstanding Notes represented thereby may from time to time be increased or reduced to reflect redemptions,
repurchases, cancellations, conversions, transfers or exchanges permitted hereby. Any endorsement of a Global Note to reflect
the amount of any increase or decrease in the amount of outstanding Notes represented thereby shall be made by the Trustee or
the Custodian, at the direction of the Trustee, in such manner and upon instructions given by the Holder of such Notes in accordance
with this Indenture. Payment of principal (including the Redemption Price and the Fundamental Change Repurchase Price, if applicable)
of, and any accrued and unpaid interest on, a Global Note shall be made to the Holder of such Note on the date of payment, unless
a record date or other means of determining Holders eligible to receive payment is provided for herein.

    13

     

    

Section
2.03. Date and Denomination of Notes; No Regular Interest; Payments of Special Interest and Defaulted Amounts. (a) The
Notes shall be issuable in registered form without coupons in denominations of $1,000 principal amount and multiples thereof.
Each Note shall be dated the date of its authentication and shall not bear regular interest and the principal amount of the Notes
shall not accrete. Special Interest on the Notes, if any, shall be computed on the basis of a 360-day year composed of twelve
30-day months and, for partial months, on the basis of the number of days actually elapsed in a 30-day month.

 

(b)           
The Person in whose name any Note (or its Predecessor Note) is registered on the Note Register at the close of business on any
Special Interest Record Date with respect to any Special Interest Payment Date shall be entitled to receive any Special Interest
payable on such Special Interest Payment Date. The principal amount of any Note (x) in the case of any Physical Note, shall be
payable at the office or agency of the Company maintained by the Company for such purposes in the United States of America, which
shall initially be the Corporate Trust Office and (y) in the case of any Global Note, shall be payable by wire transfer of immediately
available funds to the account of the Depositary or its nominee. The Company shall pay any Special Interest (i) on any Physical
Notes (A) to Holders holding Physical Notes having an aggregate principal amount of $5,000,000 or less, by check mailed to the
Holders of these Notes at their address as it appears in the Note Register and (B) to Holders holding Physical Notes having an
aggregate principal amount of more than $5,000,000, either by check mailed to each such Holder or, upon application by such a
Holder to the Note Registrar not later than the relevant Special Interest Record Date, by wire transfer in immediately available
funds to that Holder’s account within the United States, which application shall remain in effect until the Holder notifies,
in writing, the Note Registrar to the contrary or (ii) on any Global Note by wire transfer of immediately available funds to the
account of the Depositary or its nominee.

 

(c)           
Any Defaulted Amounts shall forthwith cease to be payable to the Holder on the relevant payment date and shall not accrue interest
unless Special Interest was payable pursuant to this Indenture on the relevant payment date, in which case such Defaulted Amounts
shall accrue interest per annum at the then-applicable Special Interest rate borne by the Notes from, and including, such relevant
payment date, and such Defaulted Amounts together with any such interest thereon shall be paid by the Company, at its election
in each case, as provided in clause ‎(i) or ‎(ii) below:

    14

     

    

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

 

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

 

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

 

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

 

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

    15

     

    

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

 

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

 

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

 

Notes
may be exchanged for other Notes of any authorized denominations and of a like aggregate principal amount, upon surrender of the
Notes to be exchanged at any such office or agency maintained by the Company pursuant to ‎Section 4.02. Whenever any Notes
are so surrendered for exchange, the Company shall execute, and the Trustee shall authenticate and deliver, the Notes that the
Holder making the exchange is entitled to receive, bearing registration numbers not contemporaneously outstanding.

 

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

 

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

    16

     

    

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

 

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

 

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

 

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

 

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

    17

     

    

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

 

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

 

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

 

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

 

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

 

(C)       TO
A PERSON IT REASONABLY BELIEVES TO BE A QUALIFIED INSTITUTIONAL BUYER IN COMPLIANCE WITH RULE 144A UNDER THE SECURITIES ACT, OR

 

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

 

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

 

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

    18

     

    

Any
Note (or security issued in exchange or substitution therefor) (i) as to which such restrictions on transfer shall have expired
in accordance with their terms, (ii) that has been transferred pursuant to a registration statement that has become effective
or been declared effective under the Securities Act and that continues to be effective at the time of such transfer or (iii) that
has been sold pursuant to the exemption from registration provided by Rule 144 or any similar provision then in force under the
Securities Act, may, upon surrender of such Note for exchange to the Note Registrar in accordance with the provisions of this
 ‎Section 2.05, be exchanged for a new Note or Notes, of like tenor and aggregate principal amount, which shall not bear the
restrictive legend required by this ‎Section 2.05(c) and shall not be assigned a restricted CUSIP number. The Company shall
be entitled to instruct the Custodian in writing to so surrender any Global Note as to which any of the conditions set forth in
clause (i) through (iii) of the immediately preceding sentence have been satisfied, and, upon such instruction, the Custodian
shall so surrender such Global Note for exchange; and any new Global Note so exchanged therefor shall not bear the restrictive
legend specified in this ‎Section 2.05(c) and shall not be assigned a restricted CUSIP number. The Company shall promptly
notify the Trustee upon the occurrence of the Resale Restriction Termination Date and promptly after a registration statement,
if any, with respect to the Notes or any Common Stock issued upon conversion of the Notes has been declared effective under the
Securities Act.

 

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

 

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

 

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

    19

     

    

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

 

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

 

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

 

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

 

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

 

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

    20

     

    

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

 

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

 

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

 

(C)       TO
A PERSON IT REASONABLY BELIEVES TO BE A QUALIFIED INSTITUTIONAL BUYER IN COMPLIANCE WITH RULE 144A UNDER THE SECURITIES ACT, OR

 

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

 

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

 

Any
such Common Stock (i) as to which such restrictions on transfer shall have expired in accordance with their terms, (ii) that has
been transferred pursuant to a registration statement that has become or been declared effective under the Securities Act and
that continues to be effective at the time of such transfer or (iii) that has been sold pursuant to the exemption from registration
provided by Rule 144 or any similar provision then in force under the Securities Act, may, upon surrender of the certificates
representing such shares of Common Stock for exchange in accordance with the procedures of the transfer agent for the Common Stock,
be exchanged for a new certificate or certificates for a like aggregate number of shares of Common Stock, which shall not bear
the restrictive legend required by this ‎Section 2.05(d).

    21

     

    

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

 

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

 

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

 

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

    22

     

    

Section
2.07. Temporary Notes. Pending the preparation of Physical Notes, the Company may execute and the Trustee or an authenticating
agent appointed by the Trustee shall, upon written request of the Company, authenticate and deliver temporary Notes (printed or
lithographed). Temporary Notes shall be issuable in any authorized denomination, and substantially in the form of the Physical
Notes but with such omissions, insertions and variations as may be appropriate for temporary Notes, all as may be determined by
the Company. Every such temporary Note shall be executed by the Company and authenticated by the Trustee or such authenticating
agent upon the same conditions and in substantially the same manner, and with the same effect, as the Physical Notes. Without
unreasonable delay, the Company shall execute and deliver to the Trustee or such authenticating agent Physical Notes (other than
any Global Note) and thereupon any or all temporary Notes (other than any Global Note) may be surrendered in exchange therefor,
at each office or agency maintained by the Company pursuant to ‎Section 4.02 and the Trustee or such authenticating agent
shall authenticate and deliver in exchange for such temporary Notes an equal aggregate principal amount of Physical Notes. Such
exchange shall be made by the Company at its own expense and without any charge therefor. Until so exchanged, the temporary Notes
shall in all respects be entitled to the same benefits and subject to the same limitations under this Indenture as Physical Notes
authenticated and delivered hereunder.

 

Section
2.08. Cancellation of Notes Paid, Converted, Etc. The Company shall cause all Notes surrendered for the purpose of payment,
repurchase, redemption, registration of transfer or exchange or conversion, if surrendered to any Person other than the Trustee
(including any of the Company’s agents, Subsidiaries or Affiliates), to be surrendered to the Trustee for cancellation.
All Notes delivered to the Trustee shall be canceled promptly by it. Except for any Notes surrendered for registration of transfer
or exchange, or as otherwise expressly permitted by any of the provisions of this Indenture, no Notes shall be authenticated in
exchange for any Notes surrendered to the Trustee for cancellation. The Trustee shall dispose of canceled Notes in accordance
with its customary procedures and, after such disposition, shall deliver a certificate of such disposition to the Company, at
the Company’s written request in a Company Order.

 

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

    23

     

    

Section
2.10. Additional Notes; Repurchases. The Company may, without the consent of the Holders and notwithstanding ‎Section
2.01, reopen this Indenture and issue additional Notes hereunder with the same terms as the Notes initially issued hereunder (other
than differences in the issue price and any Special Interest accrued prior to the issue date of such additional Notes and, if
applicable, restrictions on transfer of such additional Notes (including pursuant to ‎Section 2.05 hereunder)) in an unlimited
aggregate principal amount; provided that no Event of Default has occurred and is continuing; provided further that
if any such additional Notes are not fungible with the Notes initially issued hereunder for U.S. federal income tax purposes,
such additional Notes shall have one or more separate CUSIP numbers. Prior to the issuance of any such additional Notes, the Company
shall deliver to the Trustee a Company Order, an Officer’s Certificate and an Opinion of Counsel, such Officer’s Certificate
and Opinion of Counsel to cover such matters applicable to the issuance of Additional Notes, in addition to those required by
 ‎Section 17.05. In addition, the Company may, to the extent permitted by law, and directly or indirectly (regardless of whether
such Notes are surrendered to the Company), repurchase Notes in the open market or otherwise, whether by the Company or its Subsidiaries
or through a private or public tender or exchange offer or through counterparties to private agreements, including by cash-settled
swaps or other derivatives. The Company shall cause any Notes so repurchased (other than Notes repurchased pursuant to cash-settled
swaps or other derivatives) to be surrendered to the Trustee for cancellation in accordance with ‎‎Section 2.08 and such
Notes shall no longer be considered outstanding under this Indenture upon their surrender to the Trustee.

 

Article
3

Satisfaction and Discharge

 

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

    24

     

    

Article
4

Particular Covenants of the Company

 

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

 

Section
4.02. Maintenance of Office or Agency. The Company will maintain in the United States of America so designated by the Trustee,
an office or agency where the Notes may be surrendered for registration of transfer or exchange or for presentation for payment
or repurchase (“Paying Agent”) or for conversion (“Conversion Agent”) and where notices
and demands to or upon the Company in respect of the Notes and this Indenture may be served. The Company will give prompt written
notice to the Trustee of the location, and any change in the location, of such office or agency. If at any time the Company shall
fail to maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof, such presentations,
surrenders, notices and demands may be made or served at the Corporate Trust Office or the office or agency of the Trustee in
the United States of America so designated by the Trustee as a place where Notes may be presented for payment or for registration
of transfer.

 

The
Company may also from time to time designate as co-Note Registrars one or more other offices or agencies where the Notes may be
presented or surrendered for any or all such purposes and may from time to time rescind such designations; provided that
no such designation or rescission shall in any manner relieve the Company of its obligation to maintain an office or agency in
the United States of America so designated by the Trustee as a place for such purposes. The Company will give prompt written notice
to the Trustee of any such designation or rescission and of any change in the location of any such other office or agency. The
terms “Paying Agent” and “Conversion Agent” include any such additional or other offices
or agencies, as applicable.

 

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

 

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

 

Section
4.04. Provisions as to Paying Agent. (a) If the Company shall appoint a Paying Agent other than the Trustee, the Company
will cause such Paying Agent to execute and deliver to the Trustee an instrument in which such agent shall agree with the Trustee,
subject to the provisions of this ‎Section 4.04:

    25

     

    

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

 

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

 

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

 

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

 

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

 

(c)           
Anything in this ‎Section 4.04 to the contrary notwithstanding, the Company may, at any time, for the purpose of obtaining
a satisfaction and discharge of this Indenture, or for any other reason, pay, cause to be paid or deliver to the Trustee all sums
or amounts held in trust by the Company or any Paying Agent hereunder as required by this ‎Section 4.04, such sums or amounts
to be held by the Trustee upon the trusts herein contained and upon such payment or delivery by the Company or any Paying Agent
to the Trustee, the Company or such Paying Agent shall be released from all further liability but only with respect to such sums
or amounts. Upon the occurrence of any event specified in ‎‎Section 6.01(i) or ‎‎Section 6.01(j), the Trustee
shall automatically become the Paying Agent.

    26

     

    

(d)           
Subject to applicable abandoned property laws, any money and shares of Common Stock deposited with the Trustee or any Paying Agent,
or then held by the Company, in trust for the payment of the principal (including the Redemption Price and the Fundamental Change
Repurchase Price, if applicable) of, any accrued and unpaid interest on and the consideration due upon conversion of any Note
and remaining unclaimed for two years after such principal (including the Redemption Price and the Fundamental Change Repurchase
Price, if applicable), interest or consideration due upon conversion has become due and payable shall be paid to the Company on
request of the Company contained in an Officer’s Certificate, or (if then held by the Company) shall be discharged from
such trust; and the Holder of such Note shall thereafter, as an unsecured general creditor, look only to the Company for payment
thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money and shares of Common Stock, and
all liability of the Company as trustee thereof, shall thereupon cease; 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 published in the English language, customarily published on each Business Day and of general circulation in The
Borough of Manhattan, The City of New York, notice that such money and shares of Common Stock remain unclaimed and that, after
a date specified therein, which shall not be less than 30 days from the date of such publication, any unclaimed balance of such
money and shares of Common Stock then remaining will be repaid or delivered to the Company.

 

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

 

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

 

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

 

(c)           
Delivery of the reports and documents described in subsection ‎(b) above to the Trustee is for informational purposes only,
and the Trustee’s receipt of such shall not constitute constructive notice of any information contained therein or determinable
from information contained therein, including the Company’s compliance with any of its covenants hereunder (as to which
the Trustee is entitled to conclusively rely on an Officer’s Certificate).

    27

     

    

(d)           
If, at any time during the six-month period beginning on, and including, the date that is six months after the last date of original
issuance of the Notes, the Company fails to timely file any document or report that it is required to file with the Commission
pursuant to Section 13 or 15(d) of the Exchange Act, as applicable (after giving effect to all applicable grace periods thereunder
and other than reports on Form 8-K), or the Notes are not otherwise freely tradable pursuant to Rule 144 by Holders other than
the Company’s Affiliates or Holders that were the Company’s Affiliates at any time during the three months immediately
preceding (as a result of restrictions pursuant to U.S. securities laws or the terms of this Indenture or the Notes), the Company
shall pay Special Interest on the Notes. Such Special Interest shall accrue on the Notes at the rate of 0.50% per annum of the
principal amount of such Notes outstanding for each day during such period for which the Company’s failure to file has occurred
and is continuing or such Notes are not otherwise freely tradable pursuant to Rule 144 during such period by Holders other than
the Company’s Affiliates (or Holders that have been the Company’s Affiliates at any time during the three months immediately
preceding) without restrictions pursuant to U.S. securities laws or the terms of this Indenture or such Notes. As used in this
 ‎Section 4.06(d), documents or reports that the Company is required to “file” with the Commission pursuant to
Section 13 or 15(d) of the Exchange Act does not include documents or reports that the Company furnishes to the Commission pursuant
to Section 13 or 15(d) of the Exchange Act.

 

(e)           
If, and for so long as, the restrictive legend on the Notes specified in ‎Section 2.05(c) has not been removed, the Notes
are assigned a restricted CUSIP number or such Notes are not otherwise freely tradable pursuant to Rule 144 by Holders other than
the Company’s Affiliates or Holders that were the Company’s Affiliates at any time during the three months immediately
preceding (without restrictions pursuant to U.S. securities laws or the terms of this Indenture or such Notes) as of the 365th
day after the last date of original issuance of the Notes, the Company shall pay Special Interest on the Notes at a rate equal
to 0.50% per annum of the principal amount of Notes outstanding until the restrictive legend on such Notes has been removed in
accordance with ‎‎Section 2.05(c), such Notes are assigned an unrestricted CUSIP number and such Notes are freely tradable
pursuant to Rule 144 by Holders other than the Company’s Affiliates (or Holders that were the Company’s Affiliates
at any time during the three months immediately preceding) (without restrictions pursuant to U.S. securities laws or the terms
of this Indenture or such Notes).

 

(f)           
Special Interest will be payable in arrears on each Special Interest Payment Date as set forth in Section 2.03.

 

(g)           
The Special Interest that is payable in accordance with ‎Section 4.06(d) or ‎Section 4.06(e) shall be in addition to,
and not in lieu of, any Special Interest that may be payable as a result of the Company’s election pursuant to ‎Section
6.03.

 

(h)           
If Special Interest is payable by the Company pursuant to ‎Section 4.06(d) or ‎Section 4.06(e), the Company shall deliver
to the Trustee an Officer’s Certificate to that effect stating (i) the amount of such Special Interest that is payable and
(ii) the date on which such Special Interest is payable. Unless and until a Responsible Officer of the Trustee receives at the
Corporate Trust Office such a certificate, the Trustee may assume without inquiry that no such Special Interest is payable. If
the Company has paid Special Interest directly to the Persons entitled to it, the Company shall deliver to the Trustee an Officer’s
Certificate setting forth the particulars of such payment. The Trustee shall not at any time be under any duty or responsibility
to any Holder to determine the Special Interest or calculate the amount of Special Interest owed, or the method employed in such
calculation of Special Interest.

    28

     

    

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

 

Section
4.08. Compliance Certificate; Statements as to Defaults. The Company shall deliver to the Trustee within 120 days after
the end of each fiscal year of the Company (beginning with the fiscal year ending on December 31, 2021) an Officer’s
Certificate stating whether the signers thereof have knowledge of any failure by the Company to comply with all conditions and
covenants then required to be performed under this Indenture and, if so, specifying each such failure and the nature thereof.

 

In
addition, the Company shall deliver to the Trustee, as soon as possible, and in any event within 30 days after the occurrence
of any Event of Default or Default, an Officer’s Certificate setting forth the details of such Event of Default or Default,
its status and the action that the Company is taking or proposing to take in respect thereof.

 

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

 

Article
5

Lists of Holders and Reports by the Company and the Trustee

 

Section
5.01. Lists of Holders. The Company covenants and agrees that it will furnish or cause to be furnished to the Trustee (i)
if and at all such times when Special Interest is payable on the Notes pursuant to this Indenture, not more than 15 days after
each February 15 and August 15 in each year beginning with August 15, 2021, and (ii) at such other times as the
Trustee may request in writing, within 30 days after receipt by the Company of any such request (or such lesser time as the Trustee
may reasonably request in order to enable it to timely provide any notice to be provided by it hereunder), a list in such form
as the Trustee may reasonably require of the names and addresses of the Holders as of a date not more than 15 days (or such other
date as the Trustee may reasonably request in order to so provide any such notices) prior to the time such information is furnished,
except that no such list need be furnished so long as the Trustee is acting as Note Registrar.

    29

     

    

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

 

Article
6

Defaults and Remedies

 

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

 

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

 

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

 

(c)           
failure by the Company to comply with its obligation to convert the Notes in accordance with this Indenture upon exercise of a
Holder’s conversion right;

 

(d)           
failure by the Company to issue a Fundamental Change Company Notice in accordance with ‎Section 15.02(c) or notice of a Make-Whole
Fundamental Change in accordance with ‎Section 14.03(b), in each case when due;

 

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

 

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

 

(g)           
default by the Company or any Subsidiary of the Company with respect to any mortgage, agreement or other instrument under which
there may be outstanding, or by which there may be secured or evidenced, any indebtedness for money borrowed in excess of $75,000,000
(or its foreign currency equivalent) in the aggregate of the Company and/or any such Subsidiary, whether such indebtedness now
exists or shall hereafter be created (i) resulting in such indebtedness becoming or being declared due and payable or (ii) constituting
a failure to pay the principal of any such indebtedness when due and payable at its stated maturity, upon required repurchase,
upon declaration of acceleration or otherwise and, in the cases of clauses (i) and (ii), such acceleration shall not have been
rescinded or annulled or such failure to pay or default shall not have been cured or waived, or such indebtedness is not paid
or discharged, as the case may be, within 30 days of such acceleration or failure to pay, as applicable;

    30

     

    

(h)           
a final judgment or judgments for the payment of $75,000,000 (or its foreign currency equivalent) or more (excluding any amounts
covered by insurance) in the aggregate rendered against the Company or any Subsidiary of the Company, which judgment is not discharged,
bonded, paid, waived or stayed within 60 days after (i) the date on which the right to appeal thereof has expired if no such appeal
has commenced, or (ii) the date on which all rights to appeal have been extinguished;

 

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

 

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

 

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

    31

     

    

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

 

Section
6.03. Special Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company
elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set
forth in ‎Section 4.06(b) shall, for the first 270 days after the occurrence of such an Event of Default (and, for the avoidance
of doubt, giving effect to the 60-day period set forth in ‎Section 6.01(f)), consist exclusively of the right to receive Special
Interest on the Notes at a rate equal to (i) 0.25% per annum of the principal amount of the Notes outstanding for each day
during the first 90 calendar days after the occurrence of such an Event of Default during which such Event of Default is continuing
(or, if earlier, the date on which such Event of Default is cured or waived as provided for in this Indenture) and (ii) 0.50%
per annum of the principal amount of the Notes outstanding for each day from, and including, the 91st calendar day to, and including,
the 270th calendar day after the occurrence of such an Event of Default during which such Event of Default is continuing (or,
if earlier, the date on which such Event of Default is cured or waived as provided for in this Indenture). Special Interest payable
pursuant to this ‎Section 6.03 shall be in addition to, not in lieu of, any Special Interest payable pursuant to ‎Section
4.06(d) or ‎Section 4.06(e). If the Company so elects, such Special Interest shall be payable as set forth in Section 2.03.
On the 271st day after such Event of Default (if the Event of Default relating to the Company’s failure to comply with its
obligations as set forth in ‎Section 4.06(b) is not cured or waived prior to such 271st day), the Notes shall be immediately
subject to acceleration as provided in ‎Section 6.02. In the event the Company does not elect to pay Special Interest following
an Event of Default in accordance with this ‎Section 6.03 or the Company elected to make such payment but does not pay the
Special Interest when due, the Notes shall be immediately subject to acceleration as provided in ‎Section 6.02.

    32

     

    

In
order to elect to pay Special Interest as the sole remedy during the first 270 days after the occurrence of any Event of Default
described in the immediately preceding paragraph, the Company must notify all Holders of the Notes, the Trustee and the Paying
Agent in writing of such election prior to the occurrence of such Event of Default. Upon the failure to timely give such notice,
the Notes shall be immediately subject to acceleration as provided in ‎Section 6.02.

 

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

 

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

    33

     

    

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

 

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

 

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

 

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

 

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

 

First,
to the payment of all amounts due the Trustee under ‎Section 7.06;

 

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

    34

     

    

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

 

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

 

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

 

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

 

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

 

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

 

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

    35

     

    

(e)           
no direction that, in the opinion of the Trustee, is inconsistent with such written request shall have been given to the Trustee
by the Holders of a majority of the aggregate principal amount of the Notes then outstanding within such 60-day period pursuant
to ‎Section 6.09,

 

it
being understood and intended, and being expressly covenanted by the taker and Holder of every Note with every other taker and
Holder and the Trustee that no one or more Holders shall have any right in any manner whatever by virtue of or by availing of
any provision of this Indenture to affect, disturb or prejudice the rights of any other Holder, or to obtain or seek to obtain
priority over or preference to any other such Holder, or to enforce any right under this Indenture, except in the manner herein
provided and for the equal, ratable and common benefit of all Holders (except as otherwise provided herein). For the protection
and enforcement of this ‎Section 6.06, each and every Holder and the Trustee shall be entitled to such relief as can be given
either at law or in equity.

 

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

 

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

 

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

    36

     

    

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

 

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

 

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

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Article
7

Concerning the Trustee

 

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

 

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

 

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

 

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

 

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

 

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

 

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

    38

     

    

(d)           
whether or not therein provided, every provision of this Indenture relating to the conduct or affecting the liability of, or affording
protection to, the Trustee shall be subject to the provisions of this Section;

 

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

 

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

 

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

 

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

 

None
of the provisions contained in this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur personal
financial liability in the performance of any of its duties or in the exercise of any of its rights or powers.

 

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

 

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

 

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

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

 

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

 

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

 

(f)           
the permissive rights of the Trustee enumerated herein shall not be construed as duties.

 

In
no event shall the Trustee be liable for any special, indirect, consequential or punitive loss or damage of any kind whatsoever
(including but not limited to lost profits), even if the Trustee has been advised of the likelihood of such loss or damage. The
Trustee shall not be charged with knowledge of any Default or Event of Default with respect to the Notes, unless either (1)a Responsible
Officer shall have actual knowledge of such Default or Event of Default or (2) written notice of such Default or Event of Default
shall have been given to the Trustee by the Company or by any Holder of the Notes.

 

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

 

Section
7.04. Trustee, Paying Agents, Conversion Agents, Bid Solicitation Agent or Note Registrar May Own Notes. The Trustee, any
Paying Agent, any Conversion Agent, Bid Solicitation Agent (if other than the Company or any Affiliate thereof), subject to Section
2.05(e) and Section 2.10 or Note Registrar, in its individual or any other capacity, may become the owner or pledgee of Notes
with the same rights it would have if it were not the Trustee, Paying Agent, Conversion Agent, Bid Solicitation Agent or Note
Registrar.

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Section
7.05. Monies and Shares of Common Stock to Be Held in Trust. All monies and any shares of Common Stock received by the
Trustee shall, until used or applied as herein provided, be held in trust for the purposes for which they were received. Money
and shares of Common Stock held by the Trustee in trust hereunder need not be segregated from other funds or property except to
the extent required by law. The Trustee shall be under no liability for interest on any money or shares of Common Stock received
by it hereunder except as may be agreed from time to time by the Company and the Trustee.

 

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

 

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

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

 

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

 

Section
7.09. Resignation or Removal of Trustee. (a) The Trustee may at any time resign by giving written notice of such resignation
to the Company, and by delivering notice thereof to the Holders. Upon receiving such notice of resignation, the Company shall
promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy
of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee
shall have been so appointed and have accepted appointment within 60 days after the giving of such notice of resignation to the
Holders, the resigning Trustee may, upon ten Business Days’ notice to the Company and the Holders, petition any court of
competent jurisdiction for the appointment of a successor trustee, or any Holder who has been a bona fide holder of a Note or
Notes for at least six months (or since the date of this Indenture) may, subject to the provisions of ‎Section 6.11, on behalf
of himself or herself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such
court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.

 

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

 

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

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

 

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

 

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

 

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

 

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

 

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

 

Upon
acceptance of appointment by a successor trustee as provided in this ‎Section 7.10, each of the Company and the successor
trustee, at the written direction and at the expense of the Company shall deliver or cause to be delivered notice of the succession
of such trustee hereunder to the Holders. If the Company fails to deliver such notice within ten days after acceptance of appointment
by the successor trustee, the successor trustee shall cause such notice to be delivered at the expense of the Company.

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

 

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

 

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

    44

     

    

Article
8

Concerning the Holders

 

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

 

Section
8.02. Proof of Execution by Holders. Subject to the provisions of ‎Section 7.01, ‎Section 7.02 and ‎Section
9.05, proof of the execution of any instrument by a Holder or its agent or proxy shall be sufficient if made in accordance with
such reasonable rules and regulations as may be prescribed by the Trustee or in such manner as shall be satisfactory to the Trustee.
The holding of Notes shall be proved by the Note Register or by a certificate of the Note Registrar. The record of any Holders’
meeting shall be proved in the manner provided in ‎Section 9.06.

 

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

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

 

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

 

Article
9

Holders’ Meetings

 

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

 

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

 

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

 

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

    46

     

    

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

 

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

 

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

 

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

 

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

 

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

 

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

    47

     

    

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

 

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

 

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

 

Section
9.07. No Delay of Rights by Meeting. Nothing contained in this ‎Article 9 shall be deemed or construed to authorize
or permit, by reason of any call of a meeting of Holders or any rights expressly or impliedly conferred hereunder to make such
call, any hindrance or delay in the exercise of any right or rights conferred upon or reserved to the Trustee or to the Holders
under any of the provisions of this Indenture or of the Notes. Nothing contained in this ‎Article 9 shall be deemed or construed
to limit any Holder’s actions pursuant to the applicable procedures of the Depositary so long as the Notes are Global Notes.

    48

     

    

Article
10

Supplemental Indentures

 

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

 

(a)           
to cure any ambiguity, omission, defect or inconsistency that does not adversely affect Holders;

 

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

 

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

 

(d)           
to secure the Notes;

 

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

 

(f)           
to make any other change that does not adversely affect the rights of any Holder (for the avoidance of doubt, any amendment to
conform the terms of this Indenture or the Notes to the description contained in the Offering Memorandum in accordance with ‎Section
10.01(m) below will not be deemed to be adverse to any Holder);

 

(g)           
to increase the Conversion Rate as provided in this Indenture;

 

(h)           
to provide for the acceptance of appointment by a successor trustee pursuant to ‎Section 7.09 or to facilitate the administration
of the trusts under this Indenture by more than one trustee;

 

(i)           
to provide for the conversion of Notes to satisfy the Company’s Conversion Obligation in accordance with the provisions
of this Indenture;

 

(j)           
in connection with any Merger Event, provide that the notes are convertible into Reference Property, subject to the provisions
of ‎Section 14.02, and make such related changes to the terms of the Notes to the extent expressly required or permitted by
 ‎Article 14;

 

(k)           
to provide for the issuance of additional Notes in accordance with the terms of this Indenture, to the extent that the Company
deems such amendment necessary or advisable in connection with such issuance; provided that that no such amendment or supplement
may impair the rights or interests of any Holder of Notes;

 

(l)            
to comply with any requirement of the Commission in connection with the qualification of this Indenture under the Trust Indenture
Act;

 

(m)          
to conform the provisions of this Indenture or the Notes to the “Description of Notes” section of the Offering Memorandum;
or

 

(n)           
to irrevocably elect a Settlement Method and/or Specified Dollar Amount (or a minimum Specified Dollar Amount) or eliminate the
Company’s right to elect a Settlement Method.

 

Upon
the written request of the Company, the Trustee is hereby authorized to, and shall, subject to Section 10.05, join with the Company
in the execution of any such supplemental indenture, to make any further appropriate agreements and stipulations that may be therein
contained, except that the Trustee shall not be obligated to, but may in its discretion, enter into any supplemental indenture
that affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise.

    49

     

    

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

 

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

 

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

 

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

 

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

 

(d)           
make any change that adversely affects the conversion rights of any Notes;

 

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

 

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

 

(g)           
change the ranking of the Notes;

 

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

 

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

 

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

    50

     

    

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

 

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

 

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

 

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

    51

     

    

Article
11

Consolidation, Merger, Sale, Conveyance and Lease

 

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

 

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

 

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

 

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

 

Section
11.02. Successor Corporation to Be Substituted. In case of any such consolidation, merger, sale, conveyance, transfer or
lease and upon the assumption by the Successor Company, by supplemental indenture, executed and delivered to the Trustee and satisfactory
in form to the Trustee, of the due and punctual payment of the principal of and any accrued and unpaid Special Interest on all
of the Notes, the due and punctual delivery or payment, as the case may be, of any consideration due upon conversion of the Notes
and the due and punctual performance of all of the covenants and conditions of this Indenture to be performed by the Company,
such Successor Company (if not the Company) shall succeed to and, except in the case of a lease of all or substantially all of
the Company’s properties and assets, shall be substituted for the Company, with the same effect as if it had been named
herein as the party of the first part. Such Successor Company thereupon may cause to be signed, and may issue either in its own
name or in the name of the Company any or all of the Notes issuable hereunder which theretofore shall not have been signed by
the Company and delivered to the Trustee; and, upon the order of such Successor Company instead of the Company and subject to
all the terms, conditions and limitations in this Indenture prescribed, the Trustee shall authenticate and shall deliver, or cause
to be authenticated and delivered, any Notes that previously shall have been signed and delivered by the Officers of the Company
to the Trustee for authentication, and any Notes that such Successor Company thereafter shall cause to be signed and delivered
to the Trustee for that purpose. All the Notes so issued shall in all respects have the same legal rank and benefit under this
Indenture as the Notes theretofore or thereafter issued in accordance with the terms of this Indenture as though all of such Notes
had been issued at the date of the execution hereof. In the event of any such consolidation, merger, sale, conveyance or transfer
(but not in the case of a lease), upon compliance with this ‎Article 11 the Person named as the “Company” in the
first paragraph of this Indenture (or any successor that shall thereafter have become such in the manner prescribed in this ‎Article
11) may be dissolved, wound up and liquidated at any time thereafter and, except in the case of a lease, such Person shall be
released from its liabilities as obligor and maker of the Notes and from its obligations under this Indenture and the Notes.

    52

     

    

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

 

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

 

Article
12

Immunity of Incorporators, Stockholders, Officers and Directors

 

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

 

Article
13

[Intentionally Omitted]

 

Article
14

Conversion of Notes

 

Section
14.01. Conversion Privilege. (a) Subject to and upon compliance with the provisions of this ‎Article 14, each Holder
of a Note shall have the right, at such Holder’s option, to convert all or any portion (if the portion to be converted is
$1,000 principal amount or an integral multiple thereof) of such Note (i) subject to satisfaction of the conditions described
in ‎Section 14.01(b), at any time prior to the close of business on the Business Day immediately preceding September 1, 2025
under the circumstances and during the periods set forth in ‎Section 14.01(b), and (ii) regardless of the conditions described
in ‎Section 14.01(b), on or after September 1, 2025 and prior to the close of business on the second Scheduled Trading Day
immediately preceding the Maturity Date, in each case, at an initial conversion rate of 3.2523 shares of Common Stock (subject
to adjustment as provided in this ‎Article 14, the “Conversion Rate”) per $1,000 principal amount of Notes
(subject to, and in accordance with, the settlement provisions of ‎Section 14.02, the “Conversion Obligation”).

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(b)             (i) Prior to the close of business on the Business Day immediately preceding September 1, 2025, a Holder may surrender all or
any portion of its Notes for conversion at any time during the five Business Day period immediately after any five consecutive
Trading Day period (the “Measurement Period”) in which the Trading Price per $1,000 principal amount of Notes,
as determined following a request by a Holder of Notes in accordance with this subsection (b)(i), for each Trading Day of the
Measurement Period was less than 98% of the product of the Last Reported Sale Price of the Common Stock on each such Trading Day
and the Conversion Rate on each such Trading Day. The Trading Prices shall be determined by the Bid Solicitation Agent pursuant
to this subsection (b)(i) and the definition of Trading Price set forth in this Indenture. The Company shall provide written notice
to the Bid Solicitation Agent (if other than the Company) of the three independent nationally recognized securities dealers selected
by the Company pursuant to the definition of Trading Price, along with appropriate contact information for each. The Bid Solicitation
Agent (if other than the Company) shall have no obligation to determine the Trading Price per $1,000 principal amount of Notes
unless the Company has requested such determination, and the Company shall have no obligation to make such request (or, if the
Company is acting as Bid Solicitation Agent, the Company shall have no obligation to determine the Trading Price per $1,000 principal
amount of Notes) unless a Holder provides the Company with reasonable evidence that the Trading Price per $1,000 principal amount
of Notes on any Trading Day would be less than 98% of the product of the Last Reported Sale Price of the Common Stock on such
Trading Day and the Conversion Rate on such Trading Day, at which time the Company shall instruct the Bid Solicitation Agent (if
other than the Company) to determine, or if the Company is acting as Bid Solicitation Agent, the Company shall determine, the
Trading Price per $1,000 principal amount of Notes beginning on the next Trading Day and on each successive Trading Day until
the Trading Price per $1,000 principal amount of Notes is greater than or equal to 98% of the product of the Last Reported Sale
Price of the Common Stock and the Conversion Rate. If (x) the Company is not acting as Bid Solicitation Agent, and the Company
does not instruct the Bid Solicitation Agent to determine the Trading Price per $1,000 principal amount of Notes when obligated
as provided in the preceding sentence, or if the Company instructs the Bid Solicitation Agent to obtain bids and the Bid Solicitation
Agent fails to make such determination, or (y) the Company is acting as Bid Solicitation Agent and the Company fails to make such
determination when obligated as provided in the preceding sentence, then, in either case, the Trading Price per $1,000 principal
amount of Notes shall be deemed to be less than 98% of the product of the Last Reported Sale Price of the Common Stock and the
Conversion Rate on each Trading Day of such failure. If the Trading Price condition set forth above has been met, the Company
shall so notify the Holders, the Trustee and the Conversion Agent (if other than the Trustee). If, at any time after the Trading
Price condition set forth above has been met, the Trading Price per $1,000 principal amount of Notes is greater than or equal
to 98% of the product of the Last Reported Sale Price of the Common Stock and the Conversion Rate for such date, the Company shall
so notify the Holders of the Notes, the Trustee and the Conversion Agent (if other than the Trustee).

    54

     

    

(ii)            
If, prior to the close of business on the Business Day immediately preceding September 1, 2025, the Company elects to:

 

(A)           
issue to all or substantially all holders of the Common Stock any rights, options or warrants entitling them, for a period of
not more than 45 calendar days after the announcement date of such issuance, to subscribe for or purchase shares of the Common
Stock at a price per share that is less than the average of the Last Reported Sale Prices of the Common Stock for the 10 consecutive
Trading Day period ending on, and including, the Trading Day immediately preceding the date of announcement of such issuance;
or

 

(B)           
distribute to all or substantially all holders of the Common Stock the Company’s assets, securities or rights to purchase
securities of the Company, which distribution has a per share value, as reasonably determined by the Board of Directors, exceeding
10% of the Last Reported Sale Price of the Common Stock on the Trading Day preceding the date of announcement for such distribution,

 

then,
in either case, the Company shall notify all Holders of the Notes, the Trustee and the Conversion Agent (if other than the Trustee)
at least 45 Scheduled Trading Days prior to the Ex-Dividend Date for such issuance or distribution. Once the Company has given
such notice, a Holder may surrender all or any portion of its Notes for conversion at any time until the earlier of (1) the close
of business on the Business Day immediately preceding the Ex-Dividend Date for such issuance or distribution and (2) the Company’s
announcement that such issuance or distribution will not take place, in each case, even if the Notes are not otherwise convertible
at such time.

 

(iii)           
If a transaction or event that constitutes a Fundamental Change or a Make-Whole Fundamental Change occurs prior to the close of
business on the Business Day immediately preceding September 1, 2025, regardless of whether a Holder has the right to require
the Company to repurchase the Notes pursuant to ‎Section 15.02, or if the Company is a party to a consolidation, merger, binding
share exchange, or transfer or lease of all or substantially all of its assets that occurs prior to the close of business on the
Business Day immediately preceding September 1, 2025, in each case, pursuant to which the Common Stock would be converted into
cash, securities or other assets, all or any portion of a Holder’s Notes may be surrendered for conversion at any time from
or after the date that is 45 Scheduled Trading Days prior to the anticipated effective date of the transaction (or, if later,
the earlier of (x) the Business Day after the Company gives notice of such transaction and (y) the actual effective date of such
transaction) until 35 Trading Days after the actual effective date of such transaction or, if such transaction also constitutes
a Fundamental Change, until the related Fundamental Change Repurchase Date. The Company shall notify Holders, the Trustee and
the Conversion Agent (if other than the Trustee) (x) as promptly as practicable following the date the Company publicly announces
such transaction but in no event less than 45 Scheduled Trading Days prior to the anticipated effective date of such transaction
or (y) if the Company does not have knowledge of such transaction at least 45 Scheduled Trading Days prior to the anticipated
effective date of such transaction, within one Business Day of the date upon which the Company receives notice, or otherwise becomes
aware, of such transaction, but in no event later than the actual effective date of such transaction.

    55

     

    

(iv)           
Prior to the close of business on the Business Day immediately preceding September 1, 2025, a Holder may surrender all or any
portion of its Notes for conversion at any time during any calendar quarter commencing after the calendar quarter ending on June
30, 2021 (and only during such calendar quarter), if the Last Reported Sale Price of the Common Stock for at least 20 Trading
Days (whether or not consecutive) during the period of 30 consecutive Trading Days ending on, and including, the last Trading
Day of the immediately preceding calendar quarter is greater than or equal to 130% of the Conversion Price on each applicable
Trading Day. The Company shall determine at the beginning of each calendar quarter commencing after June 30, 2021 whether the
Notes may be surrendered for conversion in accordance with this clause ‎(iv) and shall notify the Holders, the Trustee and
the Conversion Agent (if other than the Trustee) if the Notes become convertible in accordance with this clause (iv).

 

(v)            
If the Company calls any or all of the Notes for redemption pursuant to ‎Article 16 prior to the close of business on the
Business Day immediately preceding September 1, 2025, then a Holder may surrender all or any portion of its Notes for conversion
at any time prior to the close of business on the Scheduled Trading Day prior to the Redemption Date, even if the Notes are not
otherwise convertible at such time. After that time, the right to convert pursuant to this Section 14.01(b)(v) shall expire, unless
the Company defaults in the payment of the Redemption Price, in which case a Holder of Notes may convert its Notes until the Redemption
Price has been paid or duly provided for, subject to the Depositary’s procedures in the case of Global Notes.

 

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

 

(i)            
All conversions for which the relevant Conversion Date occurs after the Company’s issuance of a Redemption Notice with respect
to the Notes and prior to the related Redemption Date, and all conversions for which the relevant Conversion Date occurs on or
after September 1, 2025 shall be settled using the same Settlement Method.

 

(ii)            
Except for any conversions for which the relevant Conversion Date occurs after the Company’s issuance of a Redemption Notice
with respect to the Notes but prior to the related Redemption Date and any conversions for which the relevant Conversion Date
occurs on or after September 1, 2025, the Company shall use the same Settlement Method for all conversions with the same Conversion
Date, but the Company shall not have any obligation to use the same Settlement Method with respect to conversions with different
Conversion Dates.

    56

     

    

(iii)           
If, in respect of any Conversion Date (or the period described in the third immediately succeeding set of parentheses, as the
case may be), the Company elects to deliver a notice (the “Settlement Notice”) of the relevant Settlement Method
in respect of such Conversion Date (or such period, as the case may be), and the Company has not previously irrevocably elected
a Settlement Method as described under Section 14.02(a)(vi), the Company, through the Trustee, shall deliver such Settlement Notice
to converting Holders no later than the close of business on the Trading Day immediately following the relevant Conversion Date
(or, in the case of any conversions for which the relevant Conversion Date occurs (x) after the date of issuance of a Redemption
Notice with respect to the Notes and prior to the related Redemption Date, in such Redemption Notice or (y) on or after September
1, 2025, no later than September 1, 2025). If the Company does not elect a Settlement Method prior to the deadline set forth in
the immediately preceding sentence, unless the Company has previously irrevocably elected a Settlement Method as described under
Section 14.02(a)(vi), the Company shall no longer have the right to elect Cash Settlement or Physical Settlement for such conversion
and the Company shall be deemed to have elected Combination Settlement in respect of its Conversion Obligation, and the Specified
Dollar Amount per $1,000 principal amount of Notes shall be equal to $1,000. Such Settlement Notice shall specify the relevant
Settlement Method and in the case of an election of Combination Settlement, the relevant Settlement Notice shall indicate the
Specified Dollar Amount per $1,000 principal amount of Notes. If the Company delivers a Settlement Notice electing Combination
Settlement in respect of its Conversion Obligation but does not indicate a Specified Dollar Amount per $1,000 principal amount
of Notes in such Settlement Notice, the Specified Dollar Amount per $1,000 principal amount of Notes shall be deemed to be $1,000.

 

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

 

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

 

(B)           
if the Company elects to satisfy its Conversion Obligation in respect of such conversion by Cash Settlement, the Company shall
pay to the converting Holder in respect of each $1,000 principal amount of Notes being converted cash in an amount equal to the
sum of the Daily Conversion Values for each of the 20 consecutive Trading Days during the related Observation Period; and

    57

     

    

(C)           
if the Company elects (or is deemed to have elected) to satisfy its Conversion Obligation in respect of such conversion by Combination
Settlement, the Company shall pay or deliver, as the case may be, in respect of each $1,000 principal amount of Notes being converted,
a Settlement Amount equal to the sum of the Daily Settlement Amounts for each of the 20 consecutive Trading Days during the related
Observation Period.

 

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

 

(vi)           
The Company may, unless the Company has previously elected (or is deemed to have elected) a Settlement Method, at any time prior
to any Conversion Date for any Note, and without the consent of the Holders, irrevocably elect a Settlement Method to apply in
respect of such Notes converted following the date of the Company’s election. The Company will inform Holders, through the
Trustee, of such election and, if Combination Settlement applies, the Specified Dollar Amount.

 

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

    58

     

    

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

 

(c)           
A Note shall be deemed to have been converted immediately prior to the close of business on the date (the “Conversion
Date”) that the Holder has complied with the requirements set forth in subsection ‎(b) above. Except as set forth
in ‎‎Section 14.03(b) and ‎Section 14.07(a), the Company shall pay or deliver, as the case may be, the consideration
due in respect of the Conversion Obligation on the second Business Day immediately following the relevant Conversion Date (or,
in respect of any Conversion Date occurring after February 15, 2026, on the Maturity Date), if the Company elects Physical Settlement,
or on the second Business Day immediately following the last Trading Day of the Observation Period, in the case of any other Settlement
Method. If any shares of Common Stock are due to a converting Holder, the Company shall issue or cause to be issued, and deliver
(if applicable) to the Conversion Agent or to such Holder, or such Holder’s nominee or nominees, the full number of shares
of Common Stock to which such Holder shall be entitled, in book-entry format through the Depositary, in satisfaction of the Company’s
Conversion Obligation.

 

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

 

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

 

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

 

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

    59

     

    

(h)           
Upon conversion, a Holder shall not receive any separate cash payment for accrued and unpaid Special Interest, if any, except
as set forth below. The Company’s settlement of the full Conversion Obligation shall be deemed to satisfy in full its obligation
to pay the principal amount of the Note and accrued and unpaid Special Interest, if any, to, but not including, the relevant Conversion
Date. As a result, accrued and unpaid Special Interest, if any, to, but not including, the relevant Conversion Date shall be deemed
to be paid in full rather than cancelled, extinguished or forfeited. Upon a conversion of Notes into a combination of cash and
shares of Common Stock, any accrued and unpaid Special Interest will be deemed to be paid first out of the cash paid upon such
conversion (excluding cash payments for fractional shares). Notwithstanding the foregoing, if Notes are converted after the close
of business on a Special Interest Record Date, Holders of such Notes as of the close of business on such Special Interest Record
Date will receive the full amount of Special Interest, if any, payable on such Notes on the corresponding Special Interest Payment
Date notwithstanding the conversion. Notes surrendered for conversion during the period from the close of business on any Special
Interest Record Date to the open of business on the immediately following Special Interest Payment Date must be accompanied by
funds equal to the amount of any Special Interest payable on the Notes so converted; provided that no such payment shall
be required (1) for conversions following February 15, 2026; (2) if the Company has specified a Redemption Date that is after
a Special Interest Record Date and on or prior to the Business Day immediately following the corresponding Special Interest Payment
Date; (3) if the Company has specified a Fundamental Change Repurchase Date that is after a Special Interest Record Date and on
or prior to the Business Day immediately following the corresponding Special Interest Payment Date; or (4) to the extent of any
Defaulted Amounts, if any Defaulted Amounts exists at the time of conversion with respect to such Note. Therefore, for the avoidance
of doubt, all Holders of record on February 15, 2026 shall receive the full Special Interest payment, if any, due on the Maturity
Date in cash regardless of whether their Notes have been converted following February 15, 2026.

 

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

 

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

    60

     

    

Section
14.03. Increased Conversion Rate Applicable to Certain Notes Surrendered in Connection with Make-Whole Fundamental Changes or
Redemption Notice. (a) If (x) the Effective Date of a Make-Whole Fundamental Change occurs prior to the Maturity Date or (y) the
Company gives a Redemption Notice with respect to any or all of the Notes in accordance with ‎Section 16.02 and, in each case
a Holder elects to convert its Notes in connection with such Make-Whole Fundamental Change or such Redemption Notice, as applicable,
the Company shall, under the circumstances described below, increase the Conversion Rate for the Notes so surrendered for conversion
by a number of additional shares of Common Stock (the “Additional Shares”), as described below. A conversion
of Notes shall be deemed for these purposes to be “in connection with” such Make-Whole Fundamental Change if the relevant
Notice of Conversion is received by the Conversion Agent from, and including, the Effective Date of the Make-Whole Fundamental
Change up to, and including, the Business Day immediately prior to the related Fundamental Change Repurchase Date (or, in the
case of a Make-Whole Fundamental Change that would have been a Fundamental Change but for the proviso in clause (b) of the definition
thereof, the 35th Trading Day immediately following the Effective Date of such Make-Whole Fundamental Change) (such period, the
 “Make-Whole Fundamental Change Period”). A conversion of Notes shall be deemed for these purposes to be “in
connection with” a Redemption Notice if the relevant Notice of Conversion is received by the Conversion Agent from, and
including, the date of the Redemption Notice until the close of business on the Scheduled Trading Day immediately preceding the
Redemption Date.

 

(b)           
Upon surrender of Notes for conversion in connection with a Make-Whole Fundamental Change pursuant to ‎Section 14.01(b)(iii)
or Redemption Notice pursuant to Section ‎Section 14.01(b)(v), the Company shall, at its option, satisfy the related Conversion
Obligation by Physical Settlement, Cash Settlement or Combination Settlement in accordance with ‎Section 14.02, in each case,
based on the Conversion Rate as increased to reflect the Additional Shares pursuant to the table in Section 14.03(e) below; provided,
however, that if, at the effective time of a Make-Whole Fundamental Change described in clause (b) of the definition of
Fundamental Change, the Reference Property following such Make-Whole Fundamental Change is composed entirely of cash, for any
conversion of Notes following the Effective Date of such Make-Whole Fundamental Change, the Conversion Obligation shall be calculated
based solely on the Stock Price for the transaction and shall be deemed to be an amount of cash per $1,000 principal amount of
converted Notes equal to the Conversion Rate (including any adjustment for Additional Shares), multiplied by such Stock
Price. In such event, the Conversion Obligation shall be paid to Holders in cash on the second Business Day following the Conversion
Date. The Company shall notify the Holders of Notes, the Trustee and the Conversion Agent (if other than the Trustee) of the Effective
Date of any Make-Whole Fundamental Change no later than five Business Days after such Effective Date.

 

(c)           
The number of Additional Shares, if any, by which the Conversion Rate shall be increased shall be determined by reference to the
table in Section 14.03(e) below, based on the date on which the Make-Whole Fundamental Change occurs or becomes effective or the
date of the Redemption Notice, as the case may be, (in each case, the “Effective Date”) and the price (the
 “Stock Price”) paid (or deemed to be paid) per share of the Common Stock in the Make-Whole Fundamental Change
or with respect to the Optional Redemption, as the case may be. If the holders of the Common Stock receive in exchange for their
Common Stock only cash in a Make-Whole Fundamental Change described in clause (b) of the definition of Fundamental Change, the
Stock Price shall be the cash amount paid per share. Otherwise, the Stock Price shall be the average of the Last Reported Sale
Prices of the Common Stock over the five Trading Day period ending on, and including, the Trading Day immediately preceding the
Effective Date of the Make-Whole Fundamental Change or the date of the Redemption Notice, as the case may be. The Board of Directors
shall make appropriate adjustments to the Stock Price, in its good faith determination, to account for any adjustment to the Conversion
Rate that becomes effective, or any event requiring an adjustment to the Conversion Rate where the Ex-Dividend Date, Effective
Date (as such term is used in ‎‎Section 14.04) or expiration date of the event occurs during such five consecutive Trading
Day period.

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(d)           
The Stock Prices set forth in the column headings of the table in Section 14.03(e) below shall be adjusted as of any date on which
the Conversion Rate of the Notes is otherwise adjusted. The adjusted Stock Prices shall equal the Stock Prices applicable immediately
prior to such adjustment, multiplied by a fraction, the numerator of which is the Conversion Rate immediately prior to
such adjustment giving rise to the Stock Price adjustment and the denominator of which is the Conversion Rate as so adjusted.
The number of Additional Shares set forth in the table in Section 14.03(e) below shall be adjusted in the same manner and at the
same time as the Conversion Rate as set forth in ‎Section 14.04.

 

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

 

	 	Stock
    Price
	Effective
    Date	$180.87	$250.00	$307.47	$350.00	$399.72	$450.00	$500.00	$600.00	$700.00	$800.00	$900.00	$1000.00
	March
    1, 2021	2.2765	1.2793	0.8513	0.6476	0.4809	0.3626	0.2776	0.1676	0.1034	0.0642	0.0395	0.0000
	March
    1, 2022	2.2765	1.2291	0.7961	0.5933	0.4300	0.3162	0.2361	0.1352	0.0787	0.0457	0.0259	0.0000
	March
    1, 2023	2.2765	1.1597	0.7215	0.5212	0.3639	0.2574	0.1847	0.0972	0.0513	0.0264	0.0127	0.0000
	March
    1, 2024	2.2765	1.0676	0.6205	0.4246	0.2775	0.1831	0.1222	0.0549	0.0238	0.0093	0.0028	0.0000
	March
    1, 2025	2.2765	0.9370	0.4683	0.2821	0.1574	0.0879	0.0492	0.0145	0.0032	0.0002	0.0000	0.0000
	March
    1, 2026	2.2765	0.7478	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000

 

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

 

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

 

(ii)            
if the Stock Price is greater than $1,000.00 per share (subject to adjustment in the same manner as the Stock Prices set forth
in the column headings of the table above pursuant to subsection (d) above), no Additional Shares shall be added to the Conversion
Rate; and

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(iii)           
if the Stock Price is less than $180.87 per share (subject to adjustment in the same manner as the Stock Prices set forth in the
column headings of the table above pursuant to subsection (d) above), no Additional Shares shall be added to the Conversion Rate.

 

Notwithstanding
the foregoing, in no event shall the Conversion Rate per $1,000 principal amount of Notes exceed 5.5288 shares of Common Stock,
subject to adjustment in the same manner as the Conversion Rate pursuant to ‎Section 14.04.

 

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

 

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

 

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

 

 

 

where,

 

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

 

	CR’	=	the Conversion Rate in effect immediately after the open of business on such Ex-Dividend
                                         Date or Effective Date, as applicable;

 

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

 

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

    63

     

    

Any
adjustment made under this ‎Section 14.04(a) shall become effective immediately after the open of business on the Ex-Dividend
Date for such dividend or distribution, or immediately after the open of business on the Effective Date for such share split or
share combination, as applicable. If any dividend or distribution of the type described in this ‎Section 14.04(a) is declared
but not so paid or made, the Conversion Rate shall be immediately readjusted, effective as of the date the Board of Directors
determines not to pay such dividend or distribution, to the Conversion Rate that would then be in effect if such dividend or distribution
had not been declared.

 

(b)           
If the Company issues to all or substantially all holders of the Common Stock any rights, options or warrants entitling them,
for a period of not more than 45 calendar days after the announcement date of such issuance, to subscribe for or purchase shares
of the Common Stock at a price per share that is less than the average of the Last Reported Sale Prices of the Common Stock for
the 10 consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the date of announcement
of such issuance, the Conversion Rate shall be increased based on the following formula:

 

 

 

where,

 

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

 

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

 

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

 

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

 

	Y	=	the number of shares of Common Stock equal to the aggregate price payable to exercise
                                         such rights, options or warrants, divided by the average of the Last Reported
                                         Sale Prices of the Common Stock over the 10 consecutive Trading Day period ending on,
                                         and including, the Trading Day immediately preceding the date of announcement of the
                                         issuance of such rights, options or warrants.

 

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

    64

     

    

For
purposes of this ‎Section 14.04(b) and for the purpose of Section 14.01(b)(ii)(A), in determining whether any rights, options
or warrants entitle the holders of Common Stock to subscribe for or purchase shares of the Common Stock at less than such average
of the Last Reported Sale Prices of the Common Stock for the 10 consecutive Trading Day period ending on, and including, the Trading
Day immediately preceding the date of announcement for such issuance, and in determining the aggregate offering price of such
shares of Common Stock, there shall be taken into account any consideration received by the Company for such rights, options or
warrants and any amount payable on exercise or conversion thereof, the value of such consideration, if other than cash, to be
determined by the Board of Directors.

 

(c)           
If the Company distributes shares of its Capital Stock, evidences of its indebtedness, other assets or property of the Company
or rights, options or warrants to acquire its Capital Stock or other securities of the Company, to all or substantially all holders
of the Common Stock, excluding (i) dividends, distributions or issuances as to which an adjustment was effected pursuant to ‎Section
14.04(a) or ‎Section 14.04(b), (ii) dividends or distributions paid exclusively in cash as to which an adjustment was effected
pursuant to ‎Section 14.04(d), (iii) payments in respect of tender or exchange offers as to which an adjustment was effected
pursuant to ‎Section 14.04(e), (iv) distributions of Reference Property in a transaction described in ‎Section 14.07 and
(v) Spin-Offs as to which the provisions set forth below in this ‎Section 14.04(c) shall apply (any of such shares of
Capital Stock, evidences of indebtedness, other assets or property or rights, options or warrants to acquire Capital Stock or
other securities, the “Distributed Property”), then the Conversion Rate shall be increased based on the following
formula:

 

 

 

where,

 

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

 

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

 

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

 

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

 

Any
increase made under the portion of this ‎Section 14.04(c) above shall become effective immediately after the open of business
on the Ex-Dividend Date for such distribution. If such distribution is not so paid or made, the Conversion Rate shall be decreased
to the Conversion Rate that would then be in effect if such distribution had not been declared. Notwithstanding the foregoing,
if “FMV” (as defined above) is equal to or greater than “SP0” (as defined above), in lieu of
the foregoing increase, each Holder of a Note shall receive, in respect of each $1,000 principal amount thereof, at the same time
and upon the same terms as holders of the Common Stock receive the Distributed Property, the amount and kind of Distributed Property
such Holder would have received if such Holder owned a number of shares of Common Stock equal to the Conversion Rate in effect
on the Ex-Dividend Date for the distribution. If the Board of Directors determines the “FMV” (as defined above) of
any distribution for purposes of this ‎Section 14.04(c) by reference to the actual or when-issued trading market for any securities,
it shall in doing so consider the prices in such market over the same period used in computing the Last Reported Sale Prices of
the Common Stock over the 10 consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the
Ex-Dividend Date for such distribution.

    65

     

    

With
respect to an adjustment pursuant to this ‎Section 14.04(c) where there has been a payment of a dividend or other distribution
on the Common Stock of shares of Capital Stock of any class or series, or similar equity interest, of or relating to a Subsidiary
or other business unit of the Company, that are, or, when issued, will be, listed or admitted for trading on a U.S. national securities
exchange (a “Spin-Off”), the Conversion Rate shall be increased based on the following formula:

 

 

 

where,

 

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

 

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

 

	FMV0	=	the average of the Last Reported Sale Prices of the Capital Stock or similar equity interest distributed to holders of the Common
Stock applicable to one share of the Common Stock (determined by reference to the definition of Last Reported Sale Price as set
forth in ‎Section 1.01 as if references therein to Common Stock were to such Capital Stock or similar equity interest) over
the first 10 consecutive Trading Day period after, and including, the Ex-Dividend Date of the Spin-Off (the “Valuation
Period”); and

 

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

 

The
adjustment to the Conversion Rate under the preceding paragraph shall occur at the close of business on the last Trading Day of
the Valuation Period; provided that (x) in respect of any conversion of Notes for which Physical Settlement is applicable,
if the relevant Conversion Date occurs during the Valuation Period, references to “10” in the preceding paragraph
shall be deemed to be replaced with such lesser number of Trading Days as have elapsed from, and including, the Ex-Dividend Date
of such Spin-Off to, and including, the Conversion Date in determining the Conversion Rate and (y) in respect of any conversion
of Notes for which Cash Settlement or Combination Settlement is applicable, for any Trading Day that falls within the relevant
Observation Period for such conversion and within the Valuation Period, references to “10” in the preceding paragraph
shall be deemed to be replaced with such lesser number of Trading Days as have elapsed from, and including, the Ex-Dividend Date
of such Spin-Off to, and including, such Trading Day in determining the Conversion Rate as of such Trading Day.

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

 

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

 

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

    67

     

    

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

 

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

 

(d)       If any cash dividend or distribution is made to all or substantially all holders of the Common Stock (excluding, for the avoidance
of doubt, cash payments in respect of tender or exchange offers to which ‎Section 14.04(e) shall apply), the Conversion Rate
shall be adjusted based on the following formula:

 

 

 

where,

 

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

 

	CR’	=	the Conversion Rate in effect immediately after the open of business on the Ex-Dividend
                                         Date for such dividend or distribution;

 

	SP0	=	the Last Reported Sale Price on the Trading Day immediately preceding the Ex-Dividend Date for such dividend or distribution;
and

 

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

 

Any
increase pursuant to this ‎Section 14.04(d) shall become effective immediately after the open of business on the Ex-Dividend
Date for such dividend or distribution. If such dividend or distribution is not so paid, the Conversion Rate shall be decreased,
effective as of the date the Board of Directors determines not to make or pay such dividend or distribution, to be the Conversion
Rate that would then be in effect if such dividend or distribution had not been declared. Notwithstanding the foregoing, if “C”
(as defined above) is equal to or greater than “SP0” (as defined above), in lieu of the foregoing increase,
each Holder of a Note shall receive, for each $1,000 principal amount of Notes, at the same time and upon the same terms as holders
of shares of the Common Stock, the amount of cash that such Holder would have received if such Holder owned a number of shares
of Common Stock equal to the Conversion Rate on the Ex-Dividend Date for such cash dividend or distribution.

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(e)           
If the Company or any of its Subsidiaries make a payment in respect of a tender or exchange offer for the Common Stock, to the
extent that the cash and value of any other consideration included in the payment per share of the Common Stock exceeds the average
of the Last Reported Sale Prices of the Common Stock over the 10 consecutive Trading Day period commencing on, and including,
the Trading Day next succeeding the last date on which tenders or exchanges may be made pursuant to such tender or exchange offer,
the Conversion Rate shall be increased based on the following formula:

 

 

 

where,

 

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

 

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

 

	AC	=	the aggregate value of all cash and any other consideration (as determined by the Board
                                         of Directors) paid or payable for shares of Common Stock purchased in such tender or
                                         exchange offer;

 

	OS0	=	the number of shares of Common Stock outstanding immediately prior to the date such tender or exchange offer expires (prior to
giving effect to the purchase of all shares of Common Stock accepted for purchase or exchange in such tender or exchange offer);

 

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

 

	SP’	=	the average of the Last Reported Sale Prices of the Common Stock over the 10 consecutive
                                         Trading Day period commencing on, and including, the Trading Day next succeeding the
                                         date such tender or exchange offer expires.

 

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

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

 

(g)           
Except as stated herein, the Company shall not adjust the Conversion Rate for the issuance of shares of the Common Stock or any
securities convertible into or exchangeable for shares of the Common Stock or the right to purchase shares of the Common Stock
or such convertible or exchangeable securities.

 

(h)           
In addition to those adjustments required by clauses ‎(a), ‎(b), ‎(c), ‎(d) and ‎(e) of this ‎Section
14.04, and to the extent permitted by applicable law and subject to the applicable rules of any exchange on which any of the Company’s
securities are then listed, the Company from time to time may increase the Conversion Rate by any amount for a period of at least
20 Business Days if the Board of Directors determines that such increase would be in the Company’s best interest. In addition,
to the extent permitted by applicable law and subject to the applicable rules of any exchange on which any of the Company’s
securities are then listed, the Company may (but is not required to) increase the Conversion Rate to avoid or diminish any income
tax to holders of Common Stock or rights to purchase Common Stock in connection with a dividend or distribution of shares of Common
Stock (or rights to acquire shares of Common Stock) or similar event. Whenever the Conversion Rate is increased pursuant to either
of the preceding two sentences, the Company shall deliver to the Holder of each Note a notice of the increase at least 15 days
prior to the date the increased Conversion Rate takes effect, and such notice shall state the increased Conversion Rate and the
period during which it will be in effect.

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(i)           
Notwithstanding anything to the contrary in this ‎Article 14, the Conversion Rate shall not be adjusted:

 

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

 

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

 

(iii)        
upon the issuance of any shares of the Common Stock pursuant to any option, warrant, right or exercisable, exchangeable or convertible
security not described in clause ‎(ii) of this subsection and outstanding as of the date the Notes were first issued (other
than as set forth in Section 14.11);

 

(iv)        
upon the repurchase of shares of Common Stock pursuant to an open-market share repurchase program, including pursuant to structured
or derivative transactions such as accelerated share repurchase transactions or similar forward derivatives, or other buy-back
transaction that is not a tender offer or exchange offer of the nature described in ‎Section 14.04(e);

 

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

 

(vi)        
for accrued and unpaid Special Interest, if any.

 

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

 

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

 

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

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Section
14.05. Adjustments of Prices. Whenever any provision of this Indenture requires the Company to calculate the Last Reported
Sale Prices, the Daily VWAPs, the Daily Conversion Values or the Daily Settlement Amounts over a span of multiple days (including,
without limitation, the period, if any, for determining the Stock Price for purposes of a Make-Whole Fundamental Change or Optional
Redemption), the Company shall make appropriate adjustments to each to account for any adjustment to the Conversion Rate that
becomes effective, or any event requiring an adjustment to the Conversion Rate where the Ex-Dividend Date, Effective Date or expiration
date, as the case may be of the event occurs, at any time during the period when the Last Reported Sale Prices, the Daily VWAPs,
the Daily Conversion Values or the Daily Settlement Amounts or Stock Prices are to be calculated.

 

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

 

Section
14.07. Effect of Recapitalizations, Reclassifications and Changes of the Common Stock.

 

(a)           
In the case of:

 

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

 

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

 

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

 

(iv)        
any statutory share exchange,

 

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

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If
the Merger Event causes the Common Stock to be converted into, or exchanged for, the right to receive more than a single type
of consideration (determined based in part upon any form of stockholder election), then (i) the Reference Property into which
the Notes will be convertible shall be deemed to be actually received by the holders of Common Stock, and (ii) the unit of Reference
Property for purposes of the immediately preceding paragraph shall refer to the consideration referred to in clause (i) attributable
to one share of Common Stock. If the holders of the Common Stock receive only cash in such Merger Event, then for all conversions
for which the relevant Conversion Date occurs after the effective date of such Merger Event (A) the consideration due upon conversion
of each $1,000 principal amount of Notes shall be solely cash in an amount equal to the Conversion Rate in effect on the Conversion
Date (as may be increased by any Additional Shares pursuant to ‎Section 14.03), multiplied by the price paid per share
of Common Stock in such Merger Event and (B) the Company shall satisfy the Conversion Obligation by paying cash to converting
Holders on the second Business Day immediately following the relevant Conversion Date. The Company shall notify Holders, the Trustee
and the Conversion Agent (if other than the Trustee) of such weighted average as soon as practicable after such determination
is made.

 

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

 

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

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

 

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

 

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

 

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

 

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

 

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

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Section
14.10. Notice to Holders Prior to Certain Actions. In case of any:

 

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

 

(b)           
Merger Event; or

 

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

 

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

 

Section
14.11. Stockholder Rights Plans. If the Company has a stockholder rights plan in effect upon conversion of the Notes, each
share of Common Stock, if any, issued upon such conversion shall be entitled to receive the appropriate number of rights, if any,
and the certificates representing the Common Stock issued upon such conversion shall bear such legends, if any, in each case as
may be provided by the terms of any such stockholder rights plan, as the same may be amended from time to time. However, if, prior
to any conversion of Notes, the rights have separated from the shares of Common Stock in accordance with the provisions of the
applicable stockholder rights plan so that the Holders would not be entitled to receive any rights in respect of Common Stock
issuable upon conversion of the Notes, the Conversion Rate shall be adjusted at the time of separation as if the Company distributed
to all or substantially all holders of the Common Stock Distributed Property as provided in ‎Section 14.04(c), subject to
readjustment in the event of the expiration, termination or redemption of such rights.

    75

     

    

Article
15

Repurchase of Notes at Option of Holders

 

Section
15.01. Intentionally Omitted.

 

Section
15.02. Repurchase at Option of Holders Upon a Fundamental Change. (a) If a Fundamental Change occurs at any time, each
Holder shall have the right, at such Holder’s option, to require the Company to repurchase for cash all of such Holder’s
Notes, or any portion thereof that is equal to $1,000 or a multiple of $1,000, on the date (the “Fundamental Change Repurchase
Date”) specified by the Company that is not less than 20 calendar days or more than 35 calendar days following the date
of the Fundamental Change Company Notice at a repurchase price equal to 100% of the principal amount thereof, plus any
accrued and unpaid Special Interest thereon to, but excluding, the Fundamental Change Repurchase Date (the “Fundamental
Change Repurchase Price”), unless the Fundamental Change Repurchase Date falls after a Special Interest Record Date
but on or prior to the Special Interest Payment Date to which such Special Interest Record Date relates, in which case the Company
shall instead pay the full amount of any accrued and unpaid Special Interest to Holders of record as of such Special Interest
Record Date, and the Fundamental Change Repurchase Price shall be equal to 100% of the principal amount of Notes to be repurchased
pursuant to this ‎Article 15.

 

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

 

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

 

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

 

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

 

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

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

 

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

 

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

 

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

 

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

 

(c)           
On or before the 20th calendar day after the occurrence of the effective date of a Fundamental Change, the Company shall provide
to all Holders of Notes and the Trustee and the Paying Agent (in the case of a Paying Agent other than the Trustee) a notice (the
 “Fundamental Change Company Notice”) of the occurrence of the effective date of the Fundamental Change and
of the repurchase right at the option of the Holders arising as a result thereof. In the case of Physical Notes, such notice shall
be by first class mail or, in the case of Global Notes, such notice shall be delivered in accordance with the applicable procedures
of the Depositary. Each Fundamental Change Company Notice shall specify:

 

(i)          
the events causing the Fundamental Change;

 

(ii)         
the effective date of the Fundamental Change;

 

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

 

(iv)        
the Fundamental Change Repurchase Price;

 

(v)         
the Fundamental Change Repurchase Date;

 

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

 

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

 

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

    77

     

    

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

 

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

 

At
the Company’s request, the Trustee shall give such notice in the Company’s name and at the Company’s expense;
provided, however, that, in all cases, the text of such Fundamental Change Company Notice shall be prepared by the
Company, and the Company shall provide such text at least three (3) Business Days prior to the date such notice is required to
be sent to the Holders.

 

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

 

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

 

(i)           
the principal amount of the Notes with respect to which such notice of withdrawal is being submitted, which must be in principal
amounts of $1,000 or a multiple in excess thereof,

 

(ii)           
if Physical Notes have been issued, the certificate number of the Note in respect of which such notice of withdrawal is being
submitted, and

 

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

    78

     

    

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

 

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

 

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

 

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

 

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

 

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

 

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

    79

     

    

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

 

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

 

Article
16

Optional Redemption

 

Section
16.01. Optional Redemption. No sinking fund is provided for the Notes. The Notes shall not be redeemable by the Company
prior to September 6, 2023. On or after September 6, 2023, the Company may redeem (an “Optional Redemption”)
for cash all or any portion of the Notes (subject to the Partial Redemption Limitation), at the Redemption Price, if the Last
Reported Sale Price of the Common Stock has been at least 130% of the Conversion Price then in effect for at least 20 Trading
Days (whether or not consecutive), including the Trading Day immediately preceding the date on which the Company provides a Redemption
Notice in accordance with ‎‎Section 16.02, during any 30 consecutive Trading Day period ending on, and including, the
Trading Day immediately preceding the date on which the Company provides the Redemption Notice in accordance with ‎‎Section
16.02.

 

Section
16.02 Notice of Optional Redemption; Selection of Notes. (a) In case the Company exercises its Optional Redemption right
to redeem all or, as the case may be, any part of the Notes pursuant to ‎Section 16.01, it shall fix a date for redemption
(each, a “Redemption Date”) and it or, at its written request received by the Trustee not less than 30 Scheduled
Trading Days prior to the Redemption Date (or such shorter period of time as may be acceptable to the Trustee), the Trustee, in
the name of and at the expense of the Company, shall deliver or cause to be delivered a notice of such Optional Redemption (a
 “Redemption Notice”) not less than 25 nor more than 40 Scheduled Trading Days prior to the Redemption Date
to the Paying Agent and each Holder of Notes; provided, however, that, if the Company shall give such notice, it
shall also give written notice of the Redemption Date to the Trustee. In connection with the delivery of a Redemption Notice to
the Trustee for further delivery to each Holder of Notes, the Company shall also deliver to the Trustee an Officer’s Certificate
setting forth (x) the Redemption Date, (y) the principal amount of Notes to be redeemed, and (z) the Redemption Price. The Redemption
Date must be a Business Day, and the Company shall not specify a Redemption Date that falls on or after the 21st Scheduled
Trading Day immediately preceding the Maturity Date.

 

(b)           
A Redemption Notice, if delivered in the manner herein provided, shall be conclusively presumed to have been duly given, whether
or not the Holder receives such notice. In any case, failure to give such Redemption Notice by mail or any defect in the Redemption
Notice to the Holder of any Note designated for redemption as a whole or in part shall not affect the validity of the proceedings
for the redemption of any other Note.

 

(c)           
Each Redemption Notice shall specify:

 

(i)          
the Redemption Date;

    80

     

    

(ii)         
the Redemption Price;

 

(iii)        
that on the Redemption Date, the Redemption Price will become due and payable upon each Note to be redeemed, and that Special
Interest thereon, if any, shall cease to accrue on and after the Redemption Date;

 

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

 

(v)         
that Holders may surrender their Notes for conversion at any time prior to the close of business on the Scheduled Trading Day
immediately preceding the Redemption Date;

 

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

 

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

 

(viii)      
the CUSIP, ISIN or other similar numbers, if any, assigned to such Notes; and

 

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

 

A
Redemption Notice shall be irrevocable.

 

(d)           
If the Company elects to redeem fewer than all of the outstanding Notes, at least $150,000,000 aggregate principal amount of Notes
must be outstanding and not subject to redemption as of the relevant date of a Redemption Notice (such requirement, the “Partial
Redemption Limitation”). If fewer than all of the outstanding Notes are to be redeemed, the Trustee shall, in the case
of Global Notes, select the Notes to be redeemed (in principal amounts of $1,000 or multiples thereof) in accordance with the
Depositary’s requirements, or, in the case of Physical Notes, by lot or on a pro rata basis, unless otherwise required
by law or the requirements of the principal securities exchange, if any, on which the Notes are listed. If any Note is to be redeemed
in part only, any Redemption Notice that relates to such Note shall state the portion of the principal amount thereof that has
been or is to be redeemed. If any Note selected for partial redemption is submitted for conversion in part after such selection,
the portion of the Note submitted for conversion shall be deemed to be from the portion selected for redemption.

 

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

    81

     

    

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

 

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

 

Article
17

Miscellaneous Provisions

 

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

 

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

 

Section
17.03. Addresses for Notices, Etc. Any notice or demand that by any provision of this Indenture is required or permitted
to be given or served by the Trustee or by the Holders on the Company shall be deemed to have been sufficiently given or made,
for all purposes if given or served by being deposited postage prepaid by registered or certified mail in a post office letter
box addressed (until another address is filed by the Company with the Trustee) to Enphase Energy, Inc., 1420 N. McDowell Blvd,
Petaluma, CA 94954; Attention: General Counsel. Any notice, direction, request or demand hereunder to or upon the Trustee shall
be deemed to have been sufficiently given or made, for all purposes, if given or served by being deposited postage prepaid by
registered or certified mail in a post office letter box addressed to the Corporate Trust Office or sent electronically in PDF
format, upon receipt by the Trustee, whether sent by mail or electronically.

 

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

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Any
notice or communication delivered or to be delivered to a Holder of Physical Notes shall be mailed to it by first class mail,
postage prepaid, at its address as it appears on the Note Register and shall be sufficiently given to it if so mailed within the
time prescribed. Any notice or communication delivered or to be delivered to a Holder of Global Notes shall be delivered in accordance
with the applicable procedures of the Depositary and shall be sufficiently given to it if so delivered within the time prescribed.
Notwithstanding any other provision of this Indenture or any Note, where this Indenture or any Note provides for notice of any
event (including any Fundamental Change Company Notice) to a Holder of a Global Note (whether by mail or otherwise), such notice
shall be sufficiently given if given to the Depositary (or its designee) pursuant to the standing instructions from the Depositary
or its designee, including by electronic mail in accordance with the Depositary’s applicable procedures.

 

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

 

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

 

Section
17.04. Governing Law; Jurisdiction. THIS INDENTURE AND EACH NOTE, AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR
RELATED TO THIS INDENTURE AND EACH NOTE, SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW
YORK.

 

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

 

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

 

Section
17.05. Evidence of Compliance with Conditions Precedent; Certificates and Opinions of Counsel to Trustee. Upon any application
or demand by the Company to the Trustee to take any action under any of the provisions of this Indenture, the Company shall furnish
to the Trustee an Officer’s Certificate and an Opinion of Counsel stating that such action is permitted by the terms of
this Indenture and that all conditions precedent under the Indenture, if any, have been complied with.

    83

     

    

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

 

Notwithstanding
anything to the contrary in this ‎Section 17.05, if any provision in this Indenture specifically provides that the Trustee
shall or may receive an Opinion of Counsel in connection with any action to be taken by the Trustee or the Company hereunder,
the Trustee shall be entitled to, or entitled to request (and refrain from acting until receipt), such Opinion of Counsel.

 

Section
17.06. Legal Holidays. In any case where any Special Interest Payment Date, any Redemption Date, any Fundamental Change
Repurchase Date or the Maturity Date is not a Business Day, then any action to be taken on such date need not be taken on such
date, but may be taken on the next succeeding Business Day with the same force and effect as if taken on such date, and no interest
shall accrue in respect of the delay.

 

Section
17.07. No Security Interest Created. Nothing in this Indenture or in the Notes, expressed or implied, shall be construed
to constitute a security interest under the Uniform Commercial Code or similar legislation, as now or hereafter enacted and in
effect, in any jurisdiction.

 

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

 

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

 

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

    84

     

    

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

 

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

 

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

 

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

 

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

 

__________________________,

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

in the within-named Indenture.

 

	By:	 	 
	Authorized Officer	 

    85

     

    

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

 

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

 

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

 

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

 

Section
17.15. Calculations. Except as otherwise provided herein, the Company shall be responsible for making all calculations
called for under the Notes. These calculations include, but are not limited to, determinations of the Stock Price, the Last Reported
Sale Prices of the Common Stock, the Daily VWAPs, the Daily Conversion Values, the Daily Settlement Amounts, any accrued interest
payable on the Notes and the Conversion Rate of the Notes. The Company shall make all these calculations in good faith and, absent
manifest error, the Company’s calculations shall be final and binding on Holders of Notes. The Company shall provide a schedule
of its calculations to each of the Trustee, the Paying Agent and the Conversion Agent, and each of the Trustee, the Paying Agent
(if other than the Company) and the Conversion Agent is entitled to rely conclusively upon the accuracy of the Company’s
calculations without independent verification. The Trustee will forward the Company’s calculations to any Holder of Notes
upon the request of that Holder at the sole cost and expense of the Company.

 

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

    86

     

    

Section
17.17. Tax Withholding. The Company or the Trustee, as the case may be, shall be entitled to make a deduction or withholding
from any payment which it makes under this Indenture for or on account of any present or future taxes, duties or charges if and
to the extent so required by any applicable law and any current or future regulations or agreements thereunder or official interpretations
thereof or any law implementing an intergovernmental approach thereto or by virtue of the relevant Holder failing to satisfy any
certification or other requirements in respect of the Notes, in which event the Company or the Trustee, as the case may be, shall
make such payment after such withholding or deduction has been made and shall account to the relevant authorities for the amount
so withheld or deducted and shall have no obligation to gross up any payment hereunder or pay any additional amount as a result
of such withholding tax.

 

[Remainder
of page intentionally left blank]

    87

     

    

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

 

	 	ENPHASE
    ENERGY, INC.
	 	 
	 	By:	/s/
    Eric Branderiz
	 	 	Name: 	Eric Branderiz
	 	 	Title: 	EVP and Chief Financial Officer

 

	 	U.S.
    BANK NATIONAL ASSOCIATION, as Trustee
	 	 
	 	By:	/s/
    David Jason
	 	 	Name: 	David Jason
	 	 	Title: 	Vice President

 

[Signature Page to Indenture]

    

     

    

EXHIBIT
A

 

[FORM
OF FACE OF NOTE]

 

[INCLUDE
FOLLOWING LEGEND IF A GLOBAL NOTE]

 

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

 

[INCLUDE
FOLLOWING LEGEND IF A RESTRICTED SECURITY]

 

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

 

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

 

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

 

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

 

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

    A-1

     

    

(C)
TO A PERSON IT REASONABLY BELIEVES TO BE A QUALIFIED INSTITUTIONAL BUYER IN COMPLIANCE WITH RULE 144A UNDER THE SECURITIES ACT,
OR

 

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

 

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

 

NO
AFFILIATE (AS DEFINED IN RULE 144 UNDER THE SECURITIES ACT) OF ENPHASE ENERGY, INC. OR PERSON THAT HAS BEEN AN AFFILIATE (AS DEFINED
IN RULE 144 UNDER THE SECURITIES ACT) OF ENPHASE ENERGY, INC. DURING THE IMMEDIATELY PRECEDING THREE MONTHS MAY PURCHASE, OTHERWISE
ACQUIRE OR HOLD THIS SECURITY OR A BENEFICIAL INTEREST HEREIN.]

    A-2

     

    

Enphase
Energy, Inc.

0% Convertible Senior Note due 2026

 

	No.[•]	[Initially]1 $[•]

 

CUSIP
No. [•]

 

Enphase
Energy, Inc., a corporation duly organized and validly existing under the laws of the State of Delaware (the “Company,”
which term includes any successor corporation or other entity under the Indenture referred to on the reverse hereof), for value
received hereby promises to pay to [CEDE & CO.]2[•]3, or registered assigns, the principal
sum [as set forth in the “Schedule of Exchanges of Notes” attached hereto]4[of $[•]]5,
which amount, taken together with the principal amounts of all other outstanding Notes, shall not, unless permitted by the Indenture,
exceed $575,000,000 in aggregate at any time (or $632,500,000 if the Initial Purchasers exercise their over-allotment option in
full as set forth in the Purchase Agreement), in accordance with the rules and procedures of the Depositary, on March 1 2026,
and interest thereon as set forth below.

 

This
Note shall bear no regular cash interest, and the principal amount of this Note shall not accrete. Special Interest, if any, is
payable semi-annually in arrears on each March 1 and September 1, commencing on September 1, 2021, to Holders of record at the
close of business on the preceding February 15 or August 15 (whether or not such day is a Business Day), respectively. Accrued
Special Interest on this Notes, if any, shall be computed on the basis of a 360-day year composed of twelve 30-day months and,
for partial months, on the basis of the number of days actually elapsed in a 30-day month. Special Interest will be payable as
set forth in ‎Section 4.06(d), ‎Section 4.06(e) and ‎Section 6.03 of the within-mentioned Indenture, and any reference
to interest on, or in respect of, any Note therein shall be deemed to refer solely to Special Interest (if, in such context, Special
Interest is, was or would be payable pursuant to any of such ‎Section 4.06(d), ‎Section 4.06(e) and ‎Section 6.03)
and to any interest payable on any Defaulted Amounts as set forth in Section 2.03(c) of the Indenture.

 

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

 

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

 

 

1
Insert for a Global Note.

2
Insert for Global Note

3
Insert holder of Physical Note

4
Insert for Global Note

5
Insert for Physical Note

    A-3

     

    

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

 

This
Note, and any claim, controversy or dispute arising under or related to this Note, shall be construed in accordance with and governed
by the laws of the State of New York.

 

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

 

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

 

[Remainder
of page intentionally left blank]

    A-4

     

    

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

 

	 	ENPHASE
    ENERGY, INC.
	 	 
	 	By:	 
	 	 	Name: 
	 	 	Title: 

 

Dated:

 

TRUSTEE’S
CERTIFICATE OF AUTHENTICATION

U.S. BANK NATIONAL ASSOCIATION

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

in the within-named Indenture.

 

	By:	
	 
	 	Authorized Signatory	 

 

[Signature
Page to Global Note]

    

     

    

[FORM
OF REVERSE OF NOTE]

 

Enphase
Energy, Inc.

0% Convertible Senior Note due 2026

 

This
Note is one of a duly authorized issue of Notes of the Company, designated as its 0% Convertible Senior Notes due 2026 (the “Notes”),
initially limited to the aggregate principal amount of $575,000,000 (as increased by an amount equal to the aggregate principal
amount of any additional Notes purchased by the Initial Purchasers pursuant to the exercise of their over-allotment option as
set forth in the Purchase Agreement), all issued or to be issued under and pursuant to an Indenture dated as of March 1, 2021
(the “Indenture”), between the Company and U.S. Bank National Association (the “Trustee”),
to which Indenture and all indentures supplemental thereto reference is hereby made for a description of the rights, limitations
of rights, obligations, duties and immunities thereunder of the Trustee, the Company and the Holders of the Notes. Additional
Notes may be issued in an unlimited aggregate principal amount, subject to certain conditions specified in the Indenture. Capitalized
terms used in this Note and not defined in this Note shall have the respective meanings set forth in the Indenture.

 

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

 

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

 

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

 

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

    R-1

     

    

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

 

The
Notes shall be redeemable at the Company’s option on or after September 6, 2023 in accordance with the terms and subject
to the conditions specified in the Indenture. No sinking fund is provided for the Notes.

 

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

 

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

 

Terms
used in this Note and defined in the Indenture are used herein as therein defined.

    R-2

     

    

ABBREVIATIONS

 

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

 

TEN
COM = as tenants in common 

 

UNIF
GIFT MIN ACT = Uniform Gifts to Minors Act

 

CUST
= Custodian

 

TEN
ENT = as tenants by the entireties 

 

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

 

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

    R-3

     

    

SCHEDULE
A6

 

SCHEDULE
OF EXCHANGES OF NOTES

Enphase Energy, Inc.

0% Convertible Senior Notes due 2026

 

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

 

	Date of exchange	 	Amount of decrease in principal amount of this Global Note	 	Amount of increase in principal amount of this Global Note	 	Principal amount of this Global Note following such decrease or increase	 	Signature of authorized signatory of Trustee or Custodian
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 

 

 

6
Include if a Global Note.

    R-4

     

    

ATTACHMENT
1

 

[FORM
OF NOTICE OF CONVERSION]

 

To:
Enphase Energy, Inc.

 

To:
U.S. Bank National Association

60 Livingston Ave

St. Paul, MN 55107

Attention: Corporate Trust Services

 

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

 

	Dated:	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	Signature(s)

 

	 	
	Signature
Guarantee	 

 

Signature(s)
must be guaranteed

by an eligible Guarantor Institution

(banks, stock brokers, savings and

loan associations and credit unions)

with membership in an approved

signature guarantee medallion program

pursuant to Securities and Exchange

Commission Rule 17Ad-15 if shares

of Common Stock are to be issued, or

Notes are to be delivered, other than

to and in the name of the registered holder.

    1

     

    

Fill
in for registration of shares if

to be issued, and Notes if to

be delivered, other than to and in the

name of the registered holder:

 

	 	 
	(Name)	 
	 	 
	(Street
Address)	 
	 	 
	(City,
State and Zip Code)	 
	Please
print name and address	 
	 	 
	 	Principal
amount to be converted (if less than all): $______,000
	 	 
	 	NOTICE:
The above signature(s) of the Holder(s) hereof must correspond with the name as written upon the face of the Note in every particular
without alteration or enlargement or any change whatever.
	 	 
	 	Social
Security or Other Taxpayer
	 	Identification Number

    2

     

    

ATTACHMENT
2

 

[FORM
OF FUNDAMENTAL CHANGE REPURCHASE NOTICE]

 

To:
Enphase Energy, Inc.

 

To:
U.S. Bank National Association

60 Livingston Ave

St. Paul, MN 55107

Attention: Corporate Trust Services

 

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

 

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

 

	Dated:	 	 

 

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

    1

     

    

ATTACHMENT
3

 

[FORM
OF ASSIGNMENT AND TRANSFER]

 

U.S.
Bank National Association

60 Livingston Ave

St. Paul, MN 55107

Attention: Corporate Trust Services

 

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

 

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

 

		☐	To
Enphase Energy, Inc. or a subsidiary thereof; or

 

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

 

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

 

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

    1

     

    

 

	Dated:	 	 

 

	 	 

 

	 	 
	Signature(s)	 
	 	 
	Signature
Guarantee	 

 

Signature(s)
must be guaranteed by an

eligible Guarantor Institution (banks, stock

brokers, savings and loan associations and

credit unions) with membership in an approved

signature guarantee medallion program pursuant

to Securities and Exchange Commission

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

than to and in the name of the registered holder.

 

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

    2

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