Document:

EX-10.3

 Exhibit 10.3 
  

 
  

					
		  	                                      
  	  	 Neal J. Keating
 Chairman, President and
Chief Executive Officer
  
 Kaman Corporation

1332 Blue Hills Avenue, P.O. Box 1
 Bloomfield, CT USA

 
 www.kaman.com

			
		  		  	EXECUTION VERSION

  
 August 20, 2020 

Mr. Richard R. Barnhart 
 President 

Kaman Aerospace Group, Inc. 
 1332 Blue Hills Avenue 

Bloomfield, CT 06002 
 Re: Retirement and Consulting Letter
Agreement 
 Dear Rick: 
 This Retirement and Consulting
Letter Agreement (the “Agreement”) sets forth our agreement regarding your retirement from Kaman Corporation and its related subsidiaries and affiliated entities (collectively, the “Company”),
effective September 30, 2020, and service as a consultant thereafter to the Company until March 31, 2021 or such earlier date as may be determined in accordance with the provisions of Section 4 hereof. 

1.    RETIREMENT.    You agree that your last day of employment with the Company will be September 30, 2020 (the
“Retirement Date”), and you hereby resign, effective immediately following the Retirement Date, from your positions at the Company, including but not limited to President of Kaman Aerospace Group, Inc., Executive Vice
President of Kaman Corporation and all other offices and directorships you hold with the Company or any affiliate without further action on either your part or by the relevant entity. You agree to execute and deliver any documents reasonably
necessary to effectuate such resignations, and hereby irrevocably appoint Shawn G. Lisle and Richard S. Smith, Jr., each with the power to act individually with or without the other, to be your attorney-in-fact to execute any such documents and do anything in your name to effect such resignations. 

2.    TERMINATION OF CHANGE IN CONTROL AGREEMENT. Immediately following the Retirement Date, the Change in Control between you and Kaman
Corporation effective November 14, 2017 (the “Change in Control Agreement”) shall terminate, and neither you nor the Company will have any further rights or obligations under the Change in Control Agreement following the
Retirement Date. 

 3.    TERMINATION PAYMENTS. In consideration of the covenants and releases contained in
this Agreement, your consulting services to the Company, and in lieu of any other payments which may be due under the terms of your employment with the Company, the Company agrees to provide you with the following termination payments: 

a.    ACCRUED AMOUNTS. The Company shall pay to you at such time or times as required by applicable law or the terms of the
applicable Company plan, program, policy or arrangement (i) any unpaid base salary through the Retirement Date; (ii) reimbursement for any unreimbursed expenses incurred through the Retirement Date in accordance with the Company business
expense reimbursement policy; and (iii) the other payments and benefits to which you are entitled under the terms of the compensation arrangements and benefit plans or programs (collectively, “Accrued Amounts”). 

b.    PRO RATA ANNUAL BONUS FOR 2020. The Company shall pay to you on or before March 15, 2021, a pro-rata portion of your annual bonus for the 2020 performance year (determined by multiplying the amount you would have received based upon the actual financial performance had your employment continued through the
end of 2020 by 75%). 
 c.    PRO RATA CASH-BASED LONG-TERM INCENTIVE PLAN AWARDS. Each of your cash-based long-term
performance awards for which the performance period has not yet been completed as of the Retirement Date shall, to the extent earned, be payable in cash, at the time that any such long-term performance award is paid to other senior executives, such
payment to be made on a pro-rata basis (determined by multiplying the amount you would have received based upon actual performance under such awards had your employment continued through the end of the
performance period by a fraction, the numerator which is the number of days you remained employed with the Company during the award’s performance period through the Retirement Date and the denominator of which is the total number of days during
the award’s performance period). 
 d.    RESTRICTED STOCK AWARDS. Your unvested 1,200 Restricted Shares (as defined
under the Kaman Corporation 2013 Management Incentive Plan, as amended (the “MIP”) granted to you by the Personnel and Compensation Committee of the Kaman Corporation Board of Directors on November 13, 2017, shall be
immediately vested and become non-forfeitable as of the Retirement Date and shall be issued to you as soon as practicable following the effectiveness of the Release (as defined below). 

e.    CONTINUATION OF HEALTH BENEFITS. Subject to your continued co-payment of
premiums, if required under Company policy, you shall be entitled to continue participation for six months following the Retirement Date in all medical, dental and vision plans which cover you (and your eligible dependents) on a monthly basis upon
the same terms and conditions (except for the requirements of your continued employment) in effect for active employees of the Company. In the event you obtain other employment that offers substantially similar or improved benefits, as to any
particular medical, dental or vision plan, such continuation of coverage by the Company for such similar or improved benefit under such plan under this subsection shall immediately cease. The continuation of health benefits under this subsection
3.e. shall reduce and count against your rights under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”). You and the Company intend that the benefit described in this Section 3.e shall not
constitute a “deferral of compensation” under Treas. Reg. Sect. 1.409A- 1(b). For avoidance of doubt, payments made on your behalf under this Section 3.e. will be fully taxable to you and shall be subject to applicable tax withholding
obligations, and you will be required to pay to the difference between the cost of applicable COBRA premiums and the after-tax subsidy being provided to you under this Section 3.e. to the COBRA
administrator. 

  
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 f.    RELEASE. You and the Company agree that the obligation of the
Company to provide you with the termination payment and benefits set forth in Sections 3(b) through 3(e) is conditioned on and subject to your execution of a release substantially in the form attached hereto as Exhibit A (the
“Release”) following the Retirement Date and your not revoking the Release within the revocation period set forth in the Release. 

4.    CONSULTING SERVICES. From October 1, 2020 through March 31, 2021 (the “Consulting Term”), you
agree to assist the Chief Executive Officer of Kaman Corporation and advise him regarding all matters in which you were involved or of which you had knowledge while employed by the Company. You agree to render such services during the Consulting
Term as may be requested by the Chief Executive Officer of Kaman Corporation. From October 1, 2020 through December 31, 2020, the Company shall pay you a fee of $100,256.67 per calendar month and, from January 1, 2021 through
March 31, 2021, the Company shall pay you a fee of $42,000.00 per calendar month, in each case payable within five business days after the end of each month (the “Consulting Fee”). Further, you shall be entitled to
reimbursement for all reasonable expenses incurred by you in the performance of consulting services hereunder, in accordance with the policies of the Company. 

5.    INDEPENDENT CONTRACTOR STATUS. Your status during the Consulting Term shall be that of an independent contractor and not, for any
purpose, that of an employee or agent with authority to bind the Company in any respect. You shall not have the right (express or implied) to act on behalf of the Company or its affiliates. The parties intend that the services provided by you during
the Consulting Term will not adversely affect the treatment of your cessation of employment as of the Retirement Date as a “separation from service” for purposes of Section 409A of the Internal Revenue Code of 1986, as amended (the
“Code”).    All payments and other consideration made or provided to you under Section 4 of this Agreement shall be made or provided without withholding or deduction of any kind, and you shall assume
sole responsibility for discharging all tax or other obligations associated therewith. All other payments described hereunder will be subject to applicable withholding. In your capacity as a consultant to the Company, you shall not be entitled to
any benefits, coverages or privileges, including, without limitation, social security, unemployment, medical or pension payments, made available to active employees of the Company. 

6.    CONFIDENTIALITY; SCOPE OF DISCLOSURE OBLIGATIONS. 

a.    You agree that you shall not, directly or indirectly, use, make available, sell, disclose or otherwise communicate to
any person, other than in the course of your consulting services and for the benefit of the Company, during the Consulting Term or at any time thereafter, any nonpublic, proprietary or confidential information, knowledge or data relating to the
Company, any of its subsidiaries, affiliated companies or businesses, which shall have been obtained by you during the course of your employment with the Company. The foregoing shall not apply to information that (i) was known to the public
prior to its disclosure to you; (ii) becomes known to the public subsequent to disclosure to you through no wrongful act of you or any of your representatives; or (iii) you are required to disclose by applicable law, regulation or legal
process (provided that the you provide the Company with prior notice of the contemplated disclosure and reasonably 

  
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cooperate with the Company at its expense in seeking a protective order or other appropriate protection of such information). Notwithstanding clauses (i) and (ii) of the preceding sentence,
your obligation to maintain such disclosed information in confidence shall not terminate where only portions of the information are in the public domain. 

b.    Nothing in this Agreement prohibits you at any time from communicating with government agencies about possible
violations of federal, state, or local laws or otherwise providing information to government agencies or participating in government agency investigations or proceedings. You are not required to notify the Company of any such communications;
provided, however, that nothing herein authorizes the disclosure of information you obtained through a communication that was subject to the attorney-client privilege. Further, notwithstanding your confidentiality and nondisclosure obligations, you
are hereby advised as follows pursuant to the Defend Trade Secrets Act: “An individual shall not be held criminally or civilly liable under any Federal or State trade secret law for the disclosure of a trade secret that (A) is made
(i) in confidence to a Federal, State, or local government official, either directly or indirectly, or to an attorney; and (ii) solely for the purpose of reporting or investigating a suspected violation of law; or (B) is made in a
complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal. An individual who files a lawsuit for retaliation by an employer for reporting a suspected violation of law may disclose the trade secret to the
attorney of the individual and use the trade secret information in the court proceeding, if the individual (A) files any document containing the trade secret under seal; and (B) does not disclose the trade secret, except pursuant to court
order.” 
 7.    NON-SOLICITATION. You hereby agree that, in consideration of the payments
provided for in Section 3 of this Agreement, for the two-year period immediately following the Retirement Date you will not, directly or indirectly, individually or on behalf of any other person, firm,
corporation or other entity, knowingly solicit, aid or induce any managerial level employee of the Company or any of its subsidiaries or affiliates to leave such employment in order to accept employment with or render services to or with any other
person, firm, corporation or other entity unaffiliated with the Company or knowingly take any action to materially assist or aid any other person, firm, corporation or other entity in identifying or hiring any such employee (provided, that the
foregoing shall not be violated by general advertising not targeted at Company employees nor by serving as a reference for an employee with regard to an entity with which you are not affiliated). For the avoidance of doubt, if a managerial level
employee on his or her own initiative contacts you for the primary purpose of securing alternative employment, any action taken by you thereafter shall not be deemed a breach of this Section. 

8.    NON-COMPETITION. You hereby and agree that, in consideration of the payments provided in
Section 3 of this Agreement, for the two-year period immediately following the Retirement Date, you will not, directly or indirectly, become connected with, become employed by, promote the interest of, or
engage in any other business or activity by or on behalf of (i) RBC Bearings Incorporated or any of its subsidiaries or affiliates; or (ii) Northrop Grumman Corporation or any of its subsidiaries or affiliates. 

9.    NON-DISPARAGEMENT. Each of you and the Company (for purposes of this Section 9
“the Company” shall mean only (i) the Company by press release or otherwise and (ii) the executive officers and directors thereof and not any other employees) agree not to make any public statements that disparage the other
party, or in the case of the Company, its respective affiliates, officers, directors, 

  
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products or services. Notwithstanding the foregoing, statements made in the course of sworn testimony in administrative, judicial or arbitral proceedings (including, without limitation,
depositions in connection with such proceedings) or otherwise as required by law shall not be subject to this Section. 
 10.    RETURN
OF COMPANY PROPERTY AND RECORDS. You agree that on or before the Retirement Date you will surrender to the Company in good condition (reasonable wear and tear excepted) all property and equipment belonging to the Company and all records kept by you
containing any proprietary or confidential information of the Company or any operational, financial or other documents given to you during your employment with the Company. Notwithstanding the foregoing, you shall be permitted to keep any Company
provided iPhone or iPad that may have been provided to you during the course of your employment as long as it is appropriately wiped clean of any proprietary or confidential data or information pertaining to the Company or its business. 

11.    ASSIGNMENT OF INVENTIONS. You will promptly communicate and disclose in writing to the Company all inventions and developments
including software, whether patentable or not, as well as patents and patent applications (hereinafter collectively, “Inventions”), made, conceived, developed, or purchased by you, or under which you acquire the right to
grant licenses or to become licensed, alone or jointly with others, which have arisen or jointly with others, which have arisen or which arise out of your provision of consulting services to the Company, or relate to any matters directly pertaining
to, the business of the Company or any of its subsidiaries. Included herein as if developed during the Consulting Term is any specialized equipment and software developed for use in the business of the Company. All of your right, title and interest
in, to, and under all such Inventions, licenses, and right to grant licenses shall be the sole property of the Company. As to all such Inventions, you will, upon request of the Company execute all documents which the Company deems necessary or
proper to enable it to establish title to such Inventions or other rights, and to enable it to file and prosecute applications for letters patent of the United States and any foreign country; and do all things (including the giving of evidence in
suits and other proceedings) which the Company deems necessary or proper to obtain, maintain, or assert patents for any and all such Inventions or to assert its rights in any Inventions not patented. 

12.    EQUITABLE RELIEF AND OTHER REMEDIES. You and the Company acknowledge and agree that the other party’s remedies at law for a
breach or threatened breach of any of the provisions of Sections 6 through 11 of this Agreement would be inadequate and, in recognition of this fact, the parties agree that, in the event of such a breach or threatened breach, in addition to any
remedies at law, the other party, without posting any bond, shall be entitled to seek equitable relief in the form of specific performance, temporary restraining order, a temporary or permanent injunction or any other equitable remedy which may then
be available. 
 13.    REFORMATION. If it is determined by a court of competent jurisdiction in any state that any restriction in
Sections 6 through 11 of this Agreement is excessive in duration or scope or is unreasonable or unenforceable under the laws of that state, it is the intention of you and the Company that such restriction may be modified or amended by the court to
render it enforceable to the maximum extent permitted by the law of that state. 

  
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 14.    SECTION 409A COMPLIANCE. The intent of the parties is that payments and benefits
under this Agreement be exempt from or comply with Section 409A of the Internal Revenue Code of 1986, as amended (“Section 409A”), to the extent subject thereto, and accordingly, to the maximum extent
permitted, this Agreement shall be interpreted and administered in accordance with such intention. Notwithstanding anything contained herein to the contrary, the Executive shall not be considered to have terminated employment with the Company for
purposes of any payments under this Agreement which are subject to Section 409A until Executive would be considered to have incurred a “separation from service” from the Company within the meaning of Section 409A. Each amount to
be paid or benefit to be provided under this Agreement shall be construed as a separate identified payment for purposes of Section 409A. Without limiting the foregoing and notwithstanding anything contained herein to the contrary, to the extent
required in order to avoid accelerated taxation and/or tax penalties under Section 409A, amounts that would otherwise be payable and benefits that would otherwise be provided pursuant to this Agreement or any other arrangement between the
Executive and the Company during the six-month period immediately following the Executive’s separation from service shall instead be paid on the first business day after the date that is six months
following the Executive’s separation from service (or, if earlier, the Executive’s date of death). To the extent required to avoid an accelerated or additional tax under Section 409A, amounts reimbursable to the Executive under this
Agreement or any other arrangement between the Executive and the Company shall be paid to the Executive on or before the last day of the year following the year in which the expense was incurred and the amount of expenses eligible for reimbursement
(and in kind benefits provided to the Executive) during one year may not affect amounts reimbursable or provided in any subsequent year. The Company makes no representation that any or all of the payments described in this Agreement shall be exempt
from or comply with Section 409A and makes no undertaking to preclude Section 409A from applying to any such payment. The Executive shall be solely responsible for the payment of any taxes and penalties incurred under Section 409A.

 15.    NOTICE. For the purpose of this Agreement, notices and all other communications provided for in this Agreement shall be in
writing and shall be deemed to have been duly given (a) on the date of delivery if delivered by hand, (b) on the first business day following the date of deposit if delivered by guaranteed overnight delivery service, or (c) on the
fourth business day following the date delivered or mailed by United States registered or certified mail, return receipt requested, postage prepaid, addressed as follows: 

If to you: at any address shown on the records of the Company 

If to the Company:
 Kaman
Corporation 
 1332 Blue Hills Avenue, P.O. Box 1 

Bloomfield, CT 06002 
 Attention:
Shawn G. Lisle, General Counsel 
 or to such other address as either party may have furnished to the other in writing in accordance herewith, except that
notices of change of address shall be effective only upon receipt. 
 16.    SECTION HEADINGS; INCONSISTENCY. The section headings used
in this Agreement are included solely for convenience and shall not affect, or be used in connection with, the interpretation of this Agreement. If there is any inconsistency between this Agreement and any other agreement (including but not limited
to any option, stock, long-term incentive or other equity award agreement), 

  
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plan, program, policy or practice (collectively, “Other Provision”) of the Company, the terms of this Agreement shall control over such Other Provision; provided, however,
that nothing in this Agreement shall adversely affect your entitlement to the Accrued Amounts. 
 17.    PRIOR AGREEMENTS. This
Agreement supersedes and replaces any and all prior agreements, including the Change in Control Agreement (collectively, the “Prior Agreements”) between the Company and you. By signing this Agreement, you acknowledge that the
Prior Agreements are terminated and cancelled, and release and discharge the Company from any and all obligations and liabilities heretofore or now existing under or by virtue of such Prior Agreements, it being the intention of the parties hereto
that this Agreement effective immediately shall supersede and be in lieu of the Prior Agreements (except to the extent payments or benefits are due thereunder as of the Retirement Date (as contemplated in clause (iii) of Section 3.a.
hereof. 
 18.    NO ASSIGNMENT. This Agreement is personal to each of the parties hereto. No party may assign or delegate any rights or
obligations hereunder without first obtaining the written consent of the other party hereto, except that the Company may assign this Agreement to any successor to all or substantially all of the business and/or assets of the Company provided the
Company shall require such successor to expressly assume and agree in writing to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place and shall
deliver a copy of such assignment to you. 
 19.    SEVERABILITY. The provisions of this Agreement shall be deemed severable and the
invalidity of unenforceability of any provision shall not affect the validity or enforceability of the other provisions hereof. 

20.    COUNTERPARTS. This Agreement may be executed in counterparts, each of which shall be deemed to be an original but all of which
together will constitute one and the same instruments. One or more counterparts of this Agreement may be delivered by facsimile, with the intention that delivery by such means shall have the same effect as delivery of an original counterpart
thereof. 
 21.    ARBITRATION. Any dispute or controversy arising under or in connection with this Agreement, other than injunctive
relief under Section 12 hereof or damages for breach of Section 6, Section 7, Section 8, Section 9, Section 10 or Section 11 hereof, shall be settled exclusively by arbitration, conducted before a single arbitrator
in Hartford, Connecticut administered by the American Arbitration Association (“AAA”) in accordance with its Commercial Arbitration Rules then in effect. The single arbitrator shall be selected by the mutual agreement of you
and the Company, unless the parties are unable to agree to an arbitrator, in which case, the arbitrator will be selected under the procedures of the AAA. The arbitrator will have the authority to permit discovery and to follow the procedures that
the arbitrator determines to be appropriate. The arbitrator will have no power to award consequential (including lost profits), punitive or exemplary damages. The decision of the arbitrator will be final and binding upon the parties hereto. Judgment
may be entered on the arbitrator’s award in any court having jurisdiction. You and the Company understand and agree that this arbitration provision is governed by the Federal Arbitration Act, 9, U.S.C., § 1, et seq., and that by
entering into this arbitration provision they are waiving their respective rights to bring any dispute or controversy provided for in this Section 18 to court, including any right to a jury trial. You and the Company agree that such arbitration
shall be conducted on an individual basis only, not a class or collective basis, and hereby waive any right to 

  
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bring class wide or collective claims before any arbitrator or in any forum. THE PARTIES UNDERSTAND THAT BY AGREEING TO ARBITRATE DISPUTES THEY ARE WAIVING ANY RIGHT THEY MIGHT OTHERWISE HAVE TO
A JURY TRIAL, SUBJECT TO APPLICABLE LAW. 
 22.    MISCELLANEOUS. No provision of this Agreement may be modified, waived or discharged
unless such waiver, modification or discharge is agreed to in writing and signed by you and such officer or director as may be designated by the Board. No waiver by either party hereto at any time of any breach by the other party hereto of, or
compliance with, any condition or provision of this Agreement to be performed by such other party shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. This Agreement together with
all exhibits hereto sets forth the entire agreement of the parties hereto in respect of the subject matter contained herein. No agreements or representations, oral or otherwise, express or implied, with respect to the subject matter hereof have been
made by either party which are not expressly set forth in this Agreement. The validity, interpretation, construction and performance of this Agreement shall be governed by the laws of the State of Connecticut without regard to its conflicts of law
principles. 
 23.    REPRESENTATIONS. You represent and warrant to the Company that you have the legal right to enter into this
Agreement and to perform all of the obligations on your part to be performed hereunder in accordance with its terms and that you are not a party to any agreement or understanding, written or oral, which could prevent you from entering into this
Agreement or performing all of your obligations hereunder. 
  

	
	Very truly yours,
	
	 /s/ Neal J. Keating

	Neal J. Keating
	President and Chief Executive Officer

  

	
	Acknowledged and Agreed:
	
	 /s/ Richard R. Barnhart

	Richard R. Barnhart

  
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 EXHIBIT A 

FORM OF RELEASE 

AGREEMENT AND GENERAL RELEASE 

Kaman Corporation, its affiliates, subsidiaries, divisions, successors and assigns in such capacity, and the current, future and former
employees, officers, directors, trustees, shareholders and agents thereof (collectively referred to throughout this Agreement as “Employer”), and Richard R. Barnhart (“Executive”), on behalf of himself
and the Executive’s heirs, executors, administrators, successors and assigns (collectively referred to throughout this Agreement as “Employee”) agree: 

1.    Last Day of Employment. Executive’s last day of employment with Kaman Corporation was September 30,
2020. 
 2.    Consideration. The parties acknowledge that this Agreement and General Release is being executed
following September 30, 2020 for good and valuable consideration and in accordance with Section 3.f. of that certain Retirement and Consulting Letter Agreement by and between Executive and Kaman Corporation dated August 20, 2020 (the
“Retirement and Consulting Agreement”). 
 3.    Revocation. Executive may revoke this
Agreement and General Release for a period of seven (7) calendar days following the day Executive executes this Agreement and General Release. Any revocation within this period must be submitted, in writing, to Employer and state, “I
hereby revoke my acceptance of our Agreement and General Release.” The revocation must be personally delivered to Employer’s General Counsel, or his/her designee, or mailed to Kaman Corporation, 1332 Blue Hills Avenue, P.O. Box 1,
Bloomfield, CT 06002, Attention: General Counsel, and postmarked within seven (7) calendar days of execution of this Agreement and General Release. This Agreement and General Release shall not become effective or enforceable until the
revocation period has expired without Executive having revoked this Agreement and General Release during the seven (7)-day revocation period provided for herein. If the last day of the revocation period is a
Saturday, Sunday, or legal holiday in Hartford, Connecticut, then the revocation period shall not expire until the next following day which is not a Saturday, Sunday, or legal holiday. 

4.    General Release of Claims. Executive knowingly and voluntarily releases and forever discharges Employer from
any and all claims, causes of action, demands, fees, rights, obligations and liabilities of any kind whatsoever, whether known and unknown, against Employer, that Employee has, has ever had or may have as of the date of execution of this Agreement
and General Release, including, but not limited to, any alleged violation of: 
 - Title VII of the Civil Rights Act of 1964, as amended;

 - The Civil Rights Act of 1991; 

- Sections 1981 through 1988 of Title 42 of the United States Code, as amended; 

- The Employee Retirement Income Security Act of 1974, as amended; 

- The Immigration Reform and Control Act, as amended; 

  
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 - The Americans with Disabilities Act of 1990, as amended; 

- The Age Discrimination in Employment Act of 1967, as amended; 

- The Older Workers Benefit Protection Act of 1990; 

- The Worker Adjustment and Retraining Notification Act, as amended; 

- The Occupational Safety and Health Act, as amended; 

- The Family and Medical Leave Act of 1993, as amended; 

- The Equal Pay Act, as amended; 

- The National Labor Relations Act, to the extent permitted by law; 

- The Consolidated Omnibus Budget Reconciliation Act (“COBRA”), as amended and to the extent permitted by law; 

- The Connecticut Fair Employment Practices Act – Conn. Gen. Stat. § 46a-51 et seq., as
amended; 
 - The Connecticut Wage Laws – Conn. Gen. Stat. § 31-58 et seq., as amended;

 - The Connecticut Statutory Provision Regarding Retaliation/Discrimination for Filing a Workers’ Compensation Claim – Conn.
Gen. Stat. § 31-290a, as amended; 
 - The Connecticut Equal Pay Law – Conn. Gen. Stat.
§ 31-58(e) et seq., §§ 31-75 and 31-76, as amended; 

- The Connecticut Family and Medical Leave Law – Conn. Gen. Stat. § 31-51kk et seq., as
amended; 
 - The Connecticut Drug Testing Law – Conn. Gen. Stat. § 31-51t et seq., as
amended; 
 - The Connecticut Whistleblower Law – Conn. Gen. Stat. § 31-51m(a) et seq., as
amended; 
 - The Connecticut Free Speech Law – Conn. Gen. Stat. § 31-51q et seq., as
amended; 
 - The Connecticut Age Discrimination and Employee Benefits Law – Conn. Gen. Stat. §
38a-543, as amended; 
 - The Connecticut Reproductive Hazards Law – Conn. Gen. Stat. § 31-40g et seq., as amended; 
 - The Connecticut AIDS Testing and Confidentiality Law - Conn. Gen. Stat.
§ 19a- 581 et seq., as amended; 

  
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 - The Connecticut Electronic Monitoring of Employees Law – Conn. Gen. Stat. § 31-48b and d, as amended; 
 - The Connecticut Statutory Provision Regarding Protection of Social Security
Numbers and Personal Information – Conn. Gen. Stat. § 42-470 et seq., as amended; 
 - The
Connecticut Statutory Provision Regarding Concerning Consumer Privacy and Identity Theft – Public Act No. 09-239; 

- The Connecticut OSHA, as amended; 

- The Connecticut Paid Sick Leave law (originally P.A. 11-52), as amended; 

- Any wage payment and collection, equal pay and other similar laws, acts and statutes of the State of Connecticut; 

- Any other federal, state or local civil or human rights law or any other local, state or federal law, regulation or ordinance; 

- Any public policy, contract, tort, or common law; or 

- Any allegation for costs, fees, or other expenses including attorney’s fees incurred in these matters. 

Notwithstanding anything herein to the contrary, the sole matters to which the Agreement and General Release do not apply are: (i) Executive’s
express and vested rights under any pension plan or claims for benefits under any other employee benefit plan, policy or arrangement maintained by Employer or under COBRA and other Accrued Amounts (as such term is defined in the Retirement and
Consulting Agreement); (ii) Executive’s rights under the provisions of the Retirement and Consulting Agreement which are expressly provided to survive termination of employment; (iii) Executive’s rights as a stockholder; and
(iv) any rights that Executive has, had, or may have to indemnification, advancement, contribution or defense, however arising, pursuant to and in accordance with applicable law, Employer’s articles of incorporation or by-laws or any applicable liability insurance coverage. 
 5.    No Claims
Permitted. Executive waives Executive’s right to file any charge or complaint against Employer arising out of Executive’s employment with or separation from Employer before any federal, state or local court or any state or local
administrative agency, except where such waivers are prohibited by law. Notwithstanding the foregoing, Executive understands that nothing contained in this Agreement and General Release prevents or limits Executive from filing a charge or complaint
with, cooperating with or participating in any investigation or proceeding before, the Equal Employment Opportunity Commission, the National Labor Relations Board, the Occupational Safety and Health Administration, the Securities and Exchange
Commission or any other self-regulatory agency, legislative body or federal, state or local governmental agency or commission (“Government Agencies”). Executive further understands that this Agreement and General Release does
not limit Executive’s ability to report possible violations of applicable laws to the Government Agencies, communicate with any Government Agencies, including providing documents or other information, without notice to Employer. This Agreement
and General Release does not limit Employee’s right to 

  
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receive an award for information provided to any Government Agencies. This general release of claims also excludes any claims made under state workers’ compensation or unemployment laws, or
any claims which cannot be waived by law. 
 6.    Affirmations. Executive affirms Employee has not filed, has
not caused to be filed, and is not presently a party to, any claim, complaint, or action against Employer in any forum. Executive further affirms that, except for the compensation and other benefits contemplated by the Retirement and Consulting
Agreement, the Executive has been paid and/or has received all compensation, wages, bonuses, commissions, and/or benefits to which Executive may be entitled and no other compensation, wages, bonuses, commissions and/or benefits are due to Executive.
Executive also affirms Executive has no known workplace injuries. 
 7.    Cooperation; Return of Property.
Executive agrees to reasonably cooperate with Employer and its counsel in connection with any investigation, administrative proceeding or litigation relating to any matter that occurred during Executive’s employment in which Executive was
involved or of which Executive has knowledge and Employer will reimburse Executive for any reasonable out-of-pocket travel, delivery or similar expenses incurred and
lost wages (or will provide reasonable compensation if Executive is not then employed) in providing such service to Employer. Executive represents that Executive has complied with Section 10 of the Retirement and Consulting Agreement regarding
the return of property. 
 8.    Governing Law and Interpretation. This Agreement and General Release shall be
governed and conformed in accordance with the laws of the State of Connecticut without regard to its conflict of laws provisions. In the event Employee or Employer breaches any provision of this Agreement and General Release, Employee and Employer
affirm either may institute an action to specifically enforce any term or terms of this Agreement and General Release. Should any provision of this Agreement and General Release be declared illegal or unenforceable by any court of competent
jurisdiction and should the provision be incapable of being modified to be enforceable, such provision shall immediately become null and void, leaving the remainder of this Agreement and General Release in full force and effect. Nothing herein,
however, shall operate to void or nullify any general release language contained in the Agreement and General Release. 

9.    No Admission of Wrongdoing. Employee agrees that neither this Agreement and General Release nor the
furnishing of the consideration for this Release shall be deemed or construed at any time for any purpose as an admission by Employer of any liability or unlawful conduct of any kind. 

10.    Amendment. This Agreement and General Release may not be modified, altered or changed except upon express
written consent of both parties wherein specific reference is made to this Agreement and General Release. 

11.    Entire Agreement. This Agreement and General Release sets forth the entire agreement between the parties
hereto and fully supersedes any prior agreements or understandings between the parties; provided, however, that notwithstanding anything in this Agreement and General Release, the provisions in the Retirement and Consulting Agreement which are
intended to survive termination of the Retirement and Consulting Agreement, including but not limited to those contained in Sections 6 through 12 thereof, shall survive and continue in full force and effect. Executive acknowledges Executive has not
relied on any representations, promises, or agreements of any kind made to Executive in connection with Executive’s decision to accept this Agreement and General Release. 

  
 12 

 EXECUTIVE HAS READ THIS AGREEMENT IN ITS ENTIRETY AND UNDERSTANDS ALL OF ITS TERMS.
EXECUTIVE HAS BEEN ADVISED THAT EXECUTIVE HAS UP TO TWENTY-ONE (21) CALENDAR DAYS TO REVIEW THIS AGREEMENT AND GENERAL RELEASE AND HAS BEEN ADVISED IN WRITING TO CONSULT WITH AN ATTORNEY PRIOR TO
EXECUTION OF THIS AGREEMENT AND GENERAL RELEASE. 
 EMPLOYEE AGREES ANY MODIFICATIONS, MATERIAL OR OTHERWISE, MADE TO THIS AGREEMENT
AND GENERAL RELEASE DO NOT RESTART OR AFFECT IN ANY MANNER THE ORIGINAL TWENTY-ONE (21) CALENDAR DAY CONSIDERATION PERIOD. EXECUTIVE ACKNOWLEDGES THAT EMPLOYEE IS WAIVING AND RELEASING CLAIMS UNDER THE
AGE DISCRIMINATION AND EMPLOYMENT ACT OF 1967, AS AMENDED. 
 HAVING ELECTED TO EXECUTE THIS AGREEMENT AND GENERAL RELEASE, TO
FULFILL THE PROMISES SET FORTH HEREIN, AND TO RECEIVE THE SUMS AND BENEFITS SET FORTH IN THE RETIREMENT AND CONSULTING AGREEMENT, WHICH EXECUTIVE AGREES CONSTITUTES GOOD AND VALUABLE CONSIDERATION, EXECUTIVE FREELY, KNOWINGLY AND VOLUNTARILY, AND
AFTER DUE CONSIDERATION, ENTERS INTO THIS AGREEMENT AND GENERAL RELEASE INTENDING TO WAIVE, SETTLE AND RELEASE ALL CLAIMS EMPLOYEE HAS OR MIGHT HAVE AGAINST EMPLOYER. THIS AGREEMENT SHALL NOT BECOME EFFECTIVE UNTIL THE EIGHTH (8TH) DAY AFTER
EXECUTIVE SIGNS, WITHOUT TIMELY REVOKING, THIS AGREEMENT AND GENERAL RELEASE. NO PAYMENTS DUE TO EXECUTIVE UNDER SECTIONS 3(b)-(e) OF THE RETIREMENT AND CONSULTING AGREEMENT SHALL BE MADE OR BEGIN BEFORE THE DATE THIS AGREEMENT AND GENERAL RELEASE
BECOMES IRREVOCABLE PURSUANT TO ITS TERMS. 
 [Signature Page Follows] 

  
 13 

 IN WITNESS WHEREOF, the parties hereto knowingly and voluntarily executed this Agreement and
General Release as of the date set forth below: 
  

							
	KAMAN CORPORATION	 	            	 	EXECUTIVE
				
	By:	 	              
	 		 	              

	Name:	 		 		 	Richard R. Barnhart
	Title:	 		 		 	Date: September 30, 2020
	Date: September 30, 2020	 		 	

  
 14Exhibit 4.1

 

 

THE MIDDLEBY CORPORATION

 

AND

 

U.S. BANK NATIONAL ASSOCIATION,

 

as Trustee

 

INDENTURE

 

Dated as of August 21, 2020

 

1.00% Convertible Senior Notes due 2025

 

 

     

     

    

 

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; Payments of 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	23
	Section 2.07.	Temporary Notes	24
	Section 2.08.	Cancellation of Notes Paid, Converted, Etc.	24
	Section 2.09.	CUSIP Numbers	24
	Section 2.10.	Additional Notes; Repurchases	25
	 	 	 
	Article 3
	Satisfaction and Discharge
	 
	Section 3.01.	Satisfaction and Discharge	25
	 	 	 
	Article 4
	Particular Covenants of the Company
	 
	Section 4.01.	Payment of Principal and Interest	26
	Section 4.02.	Maintenance of Office or Agency	26
	Section 4.03.	Appointments to Fill Vacancies in Trustee’s Office	26
	Section 4.04.	Provisions as to Paying Agent	27
	Section 4.05.	Existence	28
	Section 4.06.	Rule 144A Information Requirement and Annual Reports	28
	Section 4.07.	Stay, Extension and Usury Laws	30
	Section 4.08.	Compliance Certificate; Statements as to Defaults	30
	Section 4.09.	Further Instruments and Acts	30

 

    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	31
	Section 6.02.	Acceleration; Rescission and Annulment	32
	Section 6.03.	Additional Interest	33
	Section 6.04.	Payments of Notes on Default; Suit Therefor	34
	Section 6.05.	Application of Monies Collected by Trustee	35
	Section 6.06.	Proceedings by Holders	36
	Section 6.07.	Proceedings by Trustee	37
	Section 6.08.	Remedies Cumulative and Continuing	37
	Section 6.09.	Direction of Proceedings and Waiver of Defaults by Majority of Holders	38
	Section 6.10.	Notice of Defaults	38
	Section 6.11.	Undertaking to Pay Costs	38
	 	 	 
	Article 7
	Concerning the Trustee
	 
	Section 7.01.	Duties and Responsibilities of Trustee	39
	Section 7.02.	Reliance on Documents, Opinions, Etc.	40
	Section 7.03.	No Responsibility for Recitals, Etc.	41
	Section 7.04.	Trustee, Paying Agents, Conversion Agents, Bid Solicitation Agent or Note Registrar May Own Notes	42
	Section 7.05.	Monies and Shares of Common Stock to Be Held in Trust	42
	Section 7.06.	Compensation and Expenses of Trustee	42
	Section 7.07.	Officer’s Certificate as Evidence	43
	Section 7.08.	Eligibility of Trustee	43
	Section 7.09.	Resignation or Removal of Trustee	43
	Section 7.10.	Acceptance by Successor Trustee	44
	Section 7.11.	Succession by Merger, Etc.	45
	Section 7.12.	Trustee’s Application for Instructions from the Company	45
	 	 	 
	Article 8
	Concerning the Holders
	 
	Section 8.01.	Action by Holders	46
	Section 8.02.	Proof of Execution by Holders	46
	Section 8.03.	Who Are Deemed Absolute Owners	46
	Section 8.04.	Company-Owned Notes Disregarded	47
	Section 8.05.	Revocation of Consents; Future Holders Bound	47

 

    ii 

     

    

 

	Article 9
	Holders’ Meetings
	 
	Section 9.01.	Purpose of Meetings	48
	Section 9.02.	Call of Meetings by Trustee	48
	Section 9.03.	Call of Meetings by Company or Holders	48
	Section 9.04.	Qualifications for Voting	49
	Section 9.05.	Regulations	49
	Section 9.06.	Voting	49
	Section 9.07.	No Delay of Rights by Meeting	50
	 	 	 
	Article 10
	Supplemental Indentures
	 
	Section 10.01.	Supplemental Indentures Without Consent of Holders	50
	Section 10.02.	Supplemental Indentures with Consent of Holders	51
	Section 10.03.	Effect of Supplemental Indentures	52
	Section 10.04.	Notation on Notes	52
	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	53
	Section 11.02.	Successor Corporation to Be Substituted	53
	Section 11.03.	Opinion of Counsel to Be Given to Trustee	54
	Article 12
	Immunity of Incorporators, Stockholders, Officers and Directors
	 
	Section 12.01.	Indenture and Notes Solely Corporate Obligations	54
	 	 	 
	Article 13
	Intentionally Omitted
	 
	Article 14
	Conversion of Notes
	 
	Section 14.01.	Conversion Privilege	54
	Section 14.02.	Conversion Procedure; Settlement Upon Conversion	58
	Section 14.03.	Increased Conversion Rate Applicable to Certain Notes Surrendered in Connection with Make-Whole Fundamental Changes or Called Notes During a Redemption Period	61
	Section 14.04.	Adjustment of Conversion Rate	63
	Section 14.05.	Adjustments of Prices	72
	Section 14.06.	Shares to Be Fully Paid	73
	Section 14.07.	Effect of Recapitalizations, Reclassifications and Changes of the Common Stock	73
	Section 14.08.	Certain Covenants	75
	Section 14.09.	Responsibility of Trustee	75
	Section 14.10.	Notice to Holders Prior to Certain Actions	76
	Section 14.11.	Stockholder Rights Plans	76
	Section 14.12.	Exchange In Lieu Of Conversion	77

 

    iii 

     

    

 

	Article 15
	Repurchase of Notes at Option of Holders
	 
	Section 15.01.	Intentionally Omitted	78
	Section 15.02.	Repurchase at Option of Holders Upon a Fundamental Change	78
	Section 15.03.	Withdrawal of Fundamental Change Repurchase Notice	81
	Section 15.04.	Deposit of Fundamental Change Repurchase Price	81
	Section 15.05.	Covenant to Comply with Applicable Laws Upon Repurchase of Notes	82
	 	 	 
	Article 16
	Optional Redemption
	 
	Section 16.01.	Optional Redemption	82
	Section 16.02.	Notice of Optional Redemption; Selection of Notes	82
	Section 16.03.	Payment of Notes Called for Redemption	84
	Section 16.04.	Restrictions on Redemption	84
	 	 	 
	Article 17
	Miscellaneous Provisions
	 
	Section 17.01.	Provisions Binding on Company’s Successors	84
	Section 17.02.	Official Acts by Successor Corporation	84
	Section 17.03.	Addresses for Notices, Etc.	85
	Section 17.04.	Governing Law; Jurisdiction	85
	Section 17.05.	Evidence of Compliance with Conditions Precedent; Certificates and Opinions of Counsel to Trustee	86
	Section 17.06.	Legal Holidays	86
	Section 17.07.	No Security Interest Created	87
	Section 17.08.	Benefits of Indenture	87
	Section 17.09.	Table of Contents, Headings, Etc.	87
	Section 17.10.	Authenticating Agent	87
	Section 17.11.	Execution in Counterparts	88
	Section 17.12.	Severability	88
	Section 17.13.	Waiver of Jury Trial	88
	Section 17.14.	Force Majeure	89
	Section 17.15.	Calculations	89
	Section 17.16.	U.S.A. PATRIOT Act	89
	Section 17.17.	No Personal Liability of Directors, Officers, Employees or Stockholders	89

 

    iv 

     

    

 

EXHIBIT

 

	Exhibit A	Form of
Note	A-1

 

    v 

     

    

 

INDENTURE, dated as of August 21, 2020,
between THE MIDDLEBY CORPORATION, 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 1.00% Convertible Senior Notes due 2025 (the “Notes”), initially
in an aggregate principal amount not to exceed $747,500,000, 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% Provision” shall have the meaning
specified in Section 14.03(a).

 

     

     

    

 

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

 

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

 

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

 

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

 

“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.

 

“Called Notes” means
Notes called for redemption pursuant to Article 16 or subject to a Deemed Redemption.

 

“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 Percentage” has
the meaning specified in Section 14.02(a)(ii).

 

“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).

 

    	 	2	 

     

    

 

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

 

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

 

“Common Stock” means
the common stock of the Company, par value $0.01 per share, at the date of this Indenture, subject to Section 14.07.

 

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

 

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

 

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

 

“Conversion Consideration”
shall have the meaning specified in Section 14.12(a).

 

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

 

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

 

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

 

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

 

“Corporate Trust Office”
means the designated office of the Trustee at which at any time this Indenture shall be administered, which office at the date
hereof is located at 60 Livingston Ave., Saint Paul, MN 55107, Attention: Rick Prokosch 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 40 consecutive Trading Days during the relevant Observation Period, 2.5% of the product of (a) the
Conversion Rate on such Trading Day and (b) the Daily VWAP on such Trading Day.

 

    	 	3	 

     

    

 

“Daily Net Settlement Amount,”
for each of the 40 consecutive Trading Days during the relevant Observation Period, means:

 

(a)            if
the Company has elected (or is deemed to have elected) a Cash Percentage of 0%, a number of shares of Common Stock equal to (i) the
difference between the Daily Conversion Value and $25.00, divided by (ii) the Daily VWAP for such Trading Day;

 

(b)            if
the Company has elected a Cash Percentage of 100%, cash in an amount equal to the difference between the Daily Conversion Value
and $25.00; or

 

(c)            in
all other cases, (i) a cash amount equal to the product of (x) the difference between the Daily Conversion Value and
$25.00 and (y) the Cash Percentage, together with (ii) a number of shares of Common Stock equal to the product of (x) (A) the
difference between the Daily Conversion Value and $25.00, divided by (B) the Daily VWAP for such Trading Day and (y) 100%
minus the Cash Percentage.

 

“Daily Principal Portion”
shall have the meaning specified in the definition of “Daily Settlement Amount.”

 

“Daily
Settlement Amount,” for each of the 40 consecutive Trading Days during the relevant Observation Period, shall
consist of:

 

(a)            cash
(such amount of cash, the “Daily Principal Portion”) equal to the lesser of (i) $25.00 and (ii) the
Daily Conversion Value; and

 

(b)            if
the Daily Conversion Value exceeds $25.00, the Daily Net Settlement Amount.

 

“Daily VWAP” means the
per share volume-weighted average price as displayed under the heading “Bloomberg VWAP” on Bloomberg page “MIDD
<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.

 

“Deemed Redemption” shall
have the meaning specified in Section 14.01(b)(v).

 

“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 interest) that are payable but are not punctually paid or duly provided for.

 

“delivered” 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 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.

 

    	 	4	 

     

    

 

“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.

 

“Designated Institution”
shall have the meaning specified in Section 14.12(a).

 

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

 

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

 

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

 

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

 

“Ex-Dividend Date” means
the first date on which shares of the Common Stock trade on the applicable exchange or in the applicable market, regular way, without
the right to receive the issuance, dividend or distribution in question, from the Company or, if applicable, from the seller of
the 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.

 

“Exchange Election” shall
have the meaning specified in Section 14.12(a).

 

“Exempted Fundamental Change”
shall have the meaning specified in Section 14.12(a).

 

“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.

 

    	 	5	 

     

    

 

“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 prior to the
Maturity Date:

 

(a)            a
“person” or “group” within the meaning of Section 13(d) of the Exchange Act, other than the Company,
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 (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 (relative to each
other) as such ownership immediately prior to such transaction shall not be a Fundamental Change pursuant to this clause (b);

 

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

 

(d)            the
Common Stock 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);

 

    	 	6	 

     

    

 

provided,
however, that a transaction or transactions described in clause (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 and cash payments made in respect of dissenters’ statutory appraisal rights, in connection
with such transaction or transactions consists of shares of common stock or other common equity or American Depositary Shares in
respect of common equity that are listed or quoted on any of The New York Stock Exchange, The Nasdaq Global Select Market or The
Nasdaq Global Market (or any of their respective successors) or will be so listed or quoted when issued or exchanged in connection
with such transaction or transactions and as a result of such transaction or transactions the Notes become convertible into such
consideration, excluding cash payments for fractional shares and cash payments made in respect of dissenters’ statutory appraisal
rights (subject to the provisions of Section 14.07). 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 in the immediately preceding paragraph, following the effective date of such transaction)
references to the Company in this definition shall instead be references to such other entity.

 

For purposes of this definition of “Fundamental Change,”
any transaction that constitutes a Fundamental Change pursuant to both clause (a) and clause (b) (excluding the proviso
to such clause (b)) of such definition shall be deemed a Fundamental Change solely under clause (b) of such definition (subject
to such proviso).

 

“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, 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.

 

“Interest Payment Date”
means each March 1 and September 1 of each year, beginning on March 1, 2021.

 

“Last Original Issue Date”
means (a) with respect to any Notes issued pursuant to the Offering Memorandum, the date of this Indenture; and (b) with
respect to any Notes issued pursuant to ‎Section 2.10, and any Notes issued in
exchange therefor or in substitution thereof, either (i) the later of (x) the date such Notes are originally issued and
(y) the last date any such Notes are originally issued as part of the same offering pursuant to the exercise of an option
granted to the initial purchaser(s) of such Notes to purchase additional Notes; or (ii) such other date as is specified
in an Officer’s Certificate delivered to the Trustee before the original issuance of such Notes.

 

    	 	7	 

     

    

 

“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. The “Last Reported Sale Price” shall be determined without regard to after-hours trading
or any other trading outside of regular trading session hours.

 

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

 

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

 

“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 traded on any U.S. exchange relating to the Common Stock.

 

“Maturity Date” means
September 1, 2025.

 

“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).

 

    	 	8	 

     

    

 

“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 June 1, 2025, the 40 consecutive Trading Day period beginning on, and including, the second Trading Day immediately
succeeding such Conversion Date; (ii) if the relevant Conversion Date occurs during a Redemption Period pursuant to ‎Section 16.02,
the 40 consecutive Trading Days beginning on, and including, the 41st Scheduled Trading Day immediately preceding the relevant
Redemption Date; and (iii) subject to clause (ii), if the relevant Conversion Date occurs on or after June 1, 2025, the
40 consecutive Trading Days beginning on, and including, the 41st Scheduled Trading Day immediately preceding the Maturity Date.

 

“Offering Memorandum”
means the preliminary offering memorandum dated August 17, 2020, as supplemented by the related pricing term sheet dated August 18,
2020, relating to the offering and sale of the Notes.

 

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

 

    	 	9	 

     

    

 

(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;

 

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

 

(e)            Notes
redeemed pursuant to ‎Article 16; and

 

(f)             Notes
repurchased by the Company pursuant to the last sentence of Section 2.10 (solely for the purposes of (i) Section 4.01,
Section 4.06 and Section 6.03 with respect to accrual and payment of interest and Additional Interest; (ii) waiver
provisions in Section 6.02 and Section 6.09; (iii) Section 9.02, Section 9.03, Section 9.04 and Section 9.06
with respect to meetings and voting and (iv) Article 10 with respect to any Holder’s consent to indentures supplemental
hereto).

 

“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.

 

“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.

 

“Principal Portion” means,
in respect of the conversion of any Note, the sum of the Daily Principal Portions for each Trading Day during the Observation Period
for such conversion.

 

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

 

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

 

“Redemption Notice Date”
means the date on which a Redemption Notice is delivered pursuant to Section 16.02.

 

    	 	10	 

     

    

 

“Redemption Period” means
the period from, and including, the relevant Redemption Notice Date until the close of business on the second Scheduled Trading
Day immediately preceding the related Redemption Date.

 

“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 interest, if any, to, but excluding, the Redemption Date (unless the Redemption Date falls after a Regular Record Date but
on or prior to the immediately succeeding Interest Payment Date, in which case interest accrued to the Interest Payment Date will
be paid to Holders of record of such Notes on such Regular 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).

 

“Regular Record Date,”
with respect to any 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 or September 1 Interest Payment Date, respectively.

 

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

 

“Responsible Officer”
means, when used with respect to the Trustee, any officer within the corporate trust 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 relating to this Indenture is referred because of such person’s knowledge of and familiarity
with the particular subject and who, in each case, 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 Notice” has
the meaning specified in Section 14.02(a)(ii).

 

    	 	11	 

     

    

 

“Significant Subsidiary”
for purposes of Section 6.01(g)-(i), means a Subsidiary of the Company that meets the definition of “significant subsidiary”
in Article 1, Rule 1-02 of Regulation S-X promulgated by the Commission (or any successor rule).

 

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

 

“Trading Price” of the
Notes on any date of determination means the average of the secondary market bid quotations 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.

 

    	 	12	 

     

    

 

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

 

Article 2

Issue, Description, Execution, Registration and Exchange of Notes

 

Section 2.01. Designation and Amount.
The Notes shall be designated as the “1.00% Convertible Senior Notes due 2025.” The aggregate principal amount of Notes
that may be authenticated and delivered under this Indenture is initially limited to $747,500,000, 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 permitted hereunder.

 

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

 

    	 	13	 

     

    

 

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 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 written instructions given by the Holder of such Notes in accordance with this Indenture. Payment of principal
(including the Redemption Price and the Fundamental Change Repurchase Price, if applicable) of, and accrued and unpaid interest
on, a Global Note shall be made to the Holder of such Note on the date of payment, unless a record date or other means of determining
Holders eligible to receive payment is provided for herein.

 

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

 

    	 	14	 

     

    

 

(b)            The
Person in whose name any Note (or its Predecessor Note) is registered on the Note Register at the close of business on any Regular
Record Date with respect to any Interest Payment Date shall be entitled to receive the interest payable on such Interest Payment
Date. The principal amount of any Note (x) in the case of any Physical Note, shall be payable at the office or agency of the
Company designated by the Company for such purposes in the contiguous 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 (or cause the Paying Agent to pay to the extent funded by the Company)
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 (containing the requisite information for the Trustee or Paying Agent
to make such wire transfer) not later than the relevant Regular Record Date, by wire transfer in immediately available funds to
that Holder’s account within the United States of America, 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 but shall accrue interest per
annum at the rate borne by the Notes from, and including, such relevant payment date, and such Defaulted Amounts together with
such interest thereon shall be paid by the Company, at its election in each case, as provided in clause (i) or (ii) below:

 

(i)      The
Company may elect to make payment of 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 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).
The Trustee shall have no responsibility whatsoever for the calculation of the Defaulted Amounts.

 

    	 	15	 

     

    

 

(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.

 

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 any 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; provided that the
Trustee shall be entitled to receive an Officer’s Certificate and an Opinion of Counsel of the Company with respect to the
issuance, authentication and delivery of such Notes.

 

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.

 

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.

 

    	 	16	 

     

    

 

Upon surrender for registration of transfer
of any Physical 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 Physical Notes of any authorized denominations and of a like aggregate principal
amount and bearing such restrictive legends as may be required by this Indenture.

 

Physical Notes may be exchanged for other
Physical 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 Physical Notes are so surrendered
for exchange, the Company shall execute, and the Trustee shall authenticate and deliver, the Physical Notes that the Holder making
the exchange is entitled to receive, bearing registration numbers not contemporaneously outstanding. A holder of a beneficial interest
in a note in a Global Note may transfer or exchange such beneficial interest in accordance with this Indenture and the applicable
procedures of the Depositary.

 

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 or other similar governmental charge required in connection therewith as a result of the name of the Holder of new Notes issued
upon such exchange or registration of transfer being different from the name of the Holder of the old Notes surrendered for exchange
or registration of transfer or otherwise required by law.

 

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

 

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.

 

    	 	17	 

     

    

 

(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 written
notice thereof to the Trustee):

 

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

 

    	 	18	 

     

    

 

(2)            AGREES
FOR THE BENEFIT OF THE MIDDLEBY CORPORATION (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 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 FOR THE COMPANY TO DETERMINE THAT THE PROPOSED
TRANSFER IS BEING MADE IN COMPLIANCE WITH THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS. NO REPRESENTATION IS MADE AS
TO THE AVAILABILITY OF ANY EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.

 

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

 

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

 

    	 	19	 

     

    

 

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 or with respect to Notes repurchased by the Company pursuant to the last sentence of Section 2.10.

 

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, subject to the Depositary’s applicable procedures, a beneficial owner of any Note requests that its
beneficial interest therein be issued as a Physical Note, the Company shall execute, and the Trustee, upon receipt of an Officer’s
Certificate and a Company Order for the authentication and delivery of Notes, shall authenticate and deliver (x) in the case
of clause (iii), a Physical Note to such beneficial owner in a principal amount equal to the principal amount of such Note corresponding
to such beneficial owner’s beneficial interest and (y) in the case of clause (i) or (ii), Physical Notes to each
beneficial owner of the related Global Notes (or a portion thereof) in an aggregate principal amount equal to the aggregate principal
amount of such Global Notes in exchange for such Global Notes, and upon delivery of the Global Notes to the Trustee such Global
Notes shall be canceled.

 

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

 

    	 	20	 

     

    

 

At such time as all interests in a Global
Note have been converted, canceled, redeemed, repurchased 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, redeemed,
repurchased 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 the payment of amounts to owners of beneficial
interest in a Global Note, for any aspect of the records relating to or payments made on account of those interests by the Depositary,
or for maintaining, supervising or reviewing any records of the Depositary relating to such beneficial ownership those interests.

 

(d)            Until
the Resale Restriction Termination Date, any stock certificate representing Common Stock issued upon conversion, if any, of such
Note shall bear a legend in substantially the following form (unless the 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

 

(2)            AGREES
FOR THE BENEFIT OF THE MIDDLEBY CORPORATION (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:

 

    	 	21	 

     

    

 

(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 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
FOR THE COMPANY 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).

 

(e)            Any
Note or any 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).

 

(f)            The
Trustee shall have no obligation or duty to monitor, determine or inquire as to compliance with any securities laws or restrictions
on transfer imposed under this Indenture or under applicable law with respect to any transfer of any interest in any Note (including
any transfers between or among Depositary participants or beneficial owners of interests in any Global Note) other than to require
delivery of such certificates and other documentation or evidence as are expressly required by, and to do so if and when expressly
required by the terms of, this Indenture, and to examine the same to determine substantial compliance as to form with the express
requirements hereof.

 

    	 	22	 

     

    

 

(g)            Neither
the Trustee nor any agent shall have any responsibility or liability for any actions taken or not taken by the Depositary.

 

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 or other similar governmental
charge 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.

 

    	 	23	 

     

    

 

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, conversion, redemption
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, conversion, redemption
or repurchase of negotiable instruments or other securities without their surrender.

 

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 payment, redemption, repurchase, 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 delivered to the Trustee for cancellation. All Notes delivered to the Trustee shall be canceled promptly
by it, and, except for Notes surrendered for transfer or exchange, or as otherwise expressly permitted by any of the provisions
of this Indenture, no Notes shall be authenticated in exchange therefor. 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 upon
the Company’s written request. Except for Notes surrendered for transfer or exchange, no Notes shall be authenticated in
exchange for any Notes cancelled as provided in this Indenture.

 

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.

 

    	 	24	 

     

    

 

 

Section 2.10.
Additional Notes; Repurchases. The Company may, without the consent of or notice to the Holders and notwithstanding Section 2.01,
reopen this Indenture and issue additional Notes hereunder with the same terms as the Notes initially issued hereunder (other
than differences in the issue date, the issue price, interest accrued prior to the issue date of such additional Notes and, if
applicable, restrictions on transfer in respect of such additional Notes (including pursuant to Section 2.05 hereunder)) in
an unlimited aggregate principal amount; provided that if any such additional Notes are not fungible with the Notes initially
issued hereunder for U.S. federal income tax or securities law purposes, such additional Notes shall have one or more separate
CUSIP numbers. Any additional Notes will be treated as a single series for all purposes under this Indenture except as set forth
in the first sentence of this Section 2.10. 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 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, in each case, without prior written
notice to Holders; provided that any Notes so repurchased may not be resold by the Company and will be surrendered for cancellation
either upon conversion by the Company or otherwise in accordance with Section 2.08.

 

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 and written request of the Company set forth in the aforesaid Officer’s Certificate,
shall execute such instruments reasonably requested by the Company acknowledging satisfaction and discharge of this Indenture,
when (a) (i) all Notes theretofore authenticated and delivered (other than (x) Notes which have been destroyed,
lost or stolen and which have been replaced, paid or converted as provided in Section 2.06 and (y) Notes for whose payment
money has theretofore been deposited in trust or segregated and held in trust by the Company and thereafter repaid to the Company
or discharged from such trust, as provided in Section 4.04(d)) have been delivered to the Trustee for cancellation; or (ii) the
Company has deposited with the Trustee or delivered to Holders, as applicable, after the Notes have become due and payable, whether
on the Maturity Date, any Redemption Date, any Fundamental Change Repurchase Date, upon conversion or otherwise, cash or cash and/or
(in the case of conversion) shares of Common Stock, if any, sufficient in the opinion of a nationally-recognized firm of independent
certified public accountants, without consideration of reinvestment, 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.

 

    	 	25	 

     

    

 

Article 4

Particular Covenants of the Company

 

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

 

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

 

Section 4.02. Maintenance of Office
or Agency. The Company will maintain in the contiguous United States of America an office or agency where the Notes may be
presented for registration of transfer or exchange or 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 in the United States of America 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 contiguous 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 as the office or
agency in the contiguous United States of America where Notes may be presented for registration of transfer or exchange or 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; provided that the Corporate Trust Office shall not be a place for service of legal process on the Company.

 

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.

 

    	 	26	 

     

    

 

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:

 

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

 

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

 

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

 

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

 

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

 

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

 

    	 	27	 

     

    

 

(d)            Subject
to applicable escheatment laws, any money or property 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, the Fundamental Change Repurchase Price, if applicable)
of, accrued and unpaid interest on and the consideration due upon conversion of any Note and remaining unclaimed for two years
after such principal (including the Redemption Price, 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 Trustee shall have no further liability
with respect to such funds; 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.

 

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

 

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

 

(b)            The
Company shall deliver to 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 (or any successor rule) 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
(or any successor thereto) shall be deemed to be delivered to the Trustee for purposes of this Section 4.06(b) at the
time such documents are filed via the EDGAR system (or any successor thereto), 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).

 

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(d)            If,
at any time during the six-month period beginning on, and including, the date that is six months after the Last Original Issue
Date 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 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 (as a result of restrictions pursuant to U.S. securities laws or the terms of this Indenture or the Notes),
the Company shall pay Additional Interest on such Notes. Such Additional Interest shall accrue on such 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 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. 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 (or deemed
removed), the Notes are assigned a restricted CUSIP number or the Notes are not otherwise freely tradable pursuant to Rule 144
by Holders other than the Company’s Affiliates or Holders that were the Company’s Affiliates at any time during the
three months immediately preceding (without restrictions pursuant to U.S. securities laws or the terms of this Indenture or the
Notes) as of the 385th day after the Last Original Issue Date of such Notes, the Company shall pay Additional Interest on such
Notes at a rate equal to 0.50% per annum of the principal amount of such 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) (as a result of restrictions pursuant to U.S. securities
laws or the terms of this Indenture or the Notes).

 

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

 

(g)            The
Additional Interest that is payable in accordance with Section 4.06(d) or Section 4.06(e) shall be in addition
to any Additional Interest that may accrue on the Notes as a result of the Company’s election pursuant to Section 6.03.

 

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

 

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

 

Section 4.08. Compliance Certificate;
Statements as to Defaults. The Company shall deliver to the Trustee within 120 days after the end of each fiscal year of the
Company (beginning with the fiscal year ending on January 2, 2021) an Officer’s Certificate stating whether the signers
thereof know of any Default or Event of Default that occurred during the previous year.

 

In addition, the Company shall deliver to
the Trustee, within 30 days after the occurrence thereof, written notice of any Event of Default or Default, its status and what
action the Company is taking or proposing to take in respect thereof; provided that the Company will not be required to
deliver such notice if such Event of Default or Default is no longer continuing or has been cured.

 

Section 4.09. Further Instruments
and Acts. Upon written 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 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, semi-annually, not more than 5 days
after each February 15 and August 15 in each year beginning with February 15, 2021, and at such other times as the
Trustee may request in writing, within 5 days after receipt by the Company of any such request (or such lesser time as the Trustee
may reasonably request in order to enable it to timely provide any notice to be provided by it hereunder), a list in such form
as the Trustee may reasonably require of the names and addresses of the Holders as of a date not more than 15 days (or such other
date as the Trustee may reasonably request in order to so provide any such notices) prior to the time such information is furnished,
except that no such list need be furnished so long as the Trustee is acting as Note Registrar.

 

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

 

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Article 6

Defaults and Remedies

 

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

 

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

 

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

 

(c)            failure
by the Company to comply with its obligation to convert the Notes in accordance with this Indenture upon exercise of a Holder’s
conversion right, and such failure continues for a period of five (5) Business Days;

 

(d)            failure
by the Company to issue (i) a Fundamental Change Company Notice when due in accordance with Section 15.02(c) or
(ii) notice of a specified corporate transaction or event in accordance with Section 14.01(b)(ii) or (iii), in each
case when due and (in the case of any such notice other than a notice pursuant to Section 14.01(b)(ii)) such failure continues
for a period of five (5) Business Days;

 

(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 aggregate 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 Significant 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 Significant Subsidiary, whether such indebtedness
now exists or shall hereafter be created (i) resulting in such indebtedness becoming or being declared due and payable prior
to its stated maturity or (ii) constituting a failure to pay the principal of any such indebtedness when due and payable (after
the expiration of all applicable grace periods) at its stated maturity, upon required repurchase, upon declaration of acceleration
or otherwise;

 

(h)            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

 

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(i)            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 60 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(h) or Section 6.01(i) 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 accrued
and unpaid interest on, all the Notes to be due and payable immediately, and upon any such declaration the same shall become and
shall automatically be immediately due and payable, anything in this Indenture or in the Notes contained to the contrary notwithstanding.
If an Event of Default specified in Section 6.01(h) or Section 6.01(i) with respect to the Company occurs and
is continuing, 100% of the principal of, and accrued and unpaid interest, if any, on, all Notes shall become and shall automatically
be immediately due and payable without any declaration or other act on the part of the Trustee or any Holder.

 

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 accrued and unpaid 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 accrued and unpaid interest, and on such principal at the rate 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 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 accrued and unpaid interest on, any Notes, (ii) a failure to repurchase any Notes when required or (iii) a failure
to pay (and deliver, if applicable) the consideration due upon conversion of the Notes.

 

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Section 6.03. Additional Interest.
Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for
an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall,
for the first 360 days after the occurrence of such an Event of Default, consist exclusively of the right to receive Additional
Interest on the Notes at a rate equal to (i) 0.25% per annum of the principal amount of the Notes outstanding for each day
during the first 180 calendar days after the occurrence of such an Event of Default during which such an 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 181st calendar day to, but excluding,
the 360th calendar day following 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). Additional Interest
payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to
Section 4.06(d) or Section 4.06(e). If the Company so elects, such Additional Interest shall be payable in the same
manner and on the same dates as the stated interest payable on the Notes. On the 361st day after such an 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 361st day), the Notes shall be subject to acceleration as provided in Section 6.02. The
provisions of this paragraph will not affect the rights of Holders in the event of the occurrence of any Event of Default other
than the Company’s failure to comply with its obligations as set forth in ‎‎Section 4.06(b). In the event the
Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 or the
Company elected to make such payment but does not pay the Additional Interest when due, the Notes shall be immediately subject
to acceleration as provided in Section 6.02.

 

In order to elect to pay Additional Interest
as the sole remedy during the first 360 days after the occurrence of an Event of Default relating to the Company’s failure
to comply with its obligations as set forth in Section 4.06(b) in accordance with the immediately preceding paragraph,
the Company must notify all Holders, the Trustee and the Paying Agent in writing of such election prior to the beginning of such
360-day period. Upon the Company’s failure to timely give such notice, the Notes shall be immediately subject to acceleration
as provided in Section 6.02.

 

    	 	33	 

     

    

 

Section 6.04. Payments of Notes
on Default; Suit Therefor. If an Event of Default described in clause (a) or (b) of Section 6.01 shall have
occurred and be continuing, the Company shall pay to the Trustee, for the benefit of the Holders of the Notes, the whole amount
then due and payable on the Notes for principal and interest, if any, with interest on any overdue principal and interest, if any,
at the rate borne by the Notes at such time, and, in addition thereto, such further amount as shall be sufficient to cover any
amounts due to the Trustee under Section 7.06. If the Company shall fail to pay such amounts forthwith, 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 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 shall be 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 expenses, 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.

 

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.

 

    	 	34	 

     

    

 

 

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 or property 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 interest on, and cash
due upon any conversion of, the Notes in default in the order of the date due of the payments of such interest and cash due upon
conversion, as the case may be, with interest (to the extent that such interest has been collected by the Trustee) upon such overdue
payments at the rate borne by the Notes at such time, such payments to be made ratably to the Persons entitled thereto;

 

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

 

    	 	35	 

     

    

 

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

 

Section 6.06. Proceedings by Holders.
Except to enforce the right to receive payment of principal (including, if applicable, the Redemption Price and the Fundamental
Change Repurchase Price) or interest when due, or the right to receive payment or delivery of the consideration due upon conversion,
no Holder of any Note shall have any right by virtue of or by availing of any provision of this Indenture or the Notes 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 (and, if requested, provided) to the Trustee such security or indemnity satisfactory to the Trustee
against any loss, claim, liability or expense to be incurred therein or thereby;

 

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

 

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

 

it being understood and intended, and being expressly covenanted
by the taker and Holder of every Note with every other taker and Holder and the Trustee that no one or more Holders shall have
any right in any manner whatever by virtue of or by availing of any provision of this Indenture to affect, disturb or prejudice
the rights of any other Holder (it being understood that the Trustee shall not have an affirmative duty to ascertain whether or
not any such direction is unduly prejudicial to 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.

 

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

 

Section 6.07. Proceedings by Trustee.
In case of an Event of Default, the Trustee may 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. The Trustee may maintain a proceeding even if it does not possess any
Notes or does not produce any Notes in the proceeding.

 

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.

 

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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 and that is not inconsistent with
such direction. The Trustee may refuse to follow any direction that is unduly prejudicial to the rights of any other Holder or
that would involve the Trustee in personal liability (it being understood that the Trustee does not have an affirmative duty to
determine whether any direction is prejudicial to any Holder). 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
interest, if any, on, or the principal (including any Redemption Price, 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 (and
deliver, if applicable) 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 the occurrence and continuance of a Default of which a Responsible Officer of the Trustee
has been notified in writing or has actual knowledge, 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, the Fundamental Change Repurchase Price, if applicable), or accrued
and unpaid interest on, any of the Notes or a Default in the payment or delivery of the consideration due upon conversion, the
Trustee shall be 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 accrued and unpaid interest,
if any, on any Note (including, but not limited to, the Redemption Price, the Fundamental Change Repurchase Price 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 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 of which a Responsible Officer of the Trustee has written
notice or actual knowledge 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 of which a Responsible Officer of the Trustee has written notice or actual knowledge, 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 (and, if requested, provided)
to the Trustee indemnity or security satisfactory to the Trustee against any loss, claim, 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 of which a Responsible Officer of the Trustee has written notice or actual knowledge and
after the curing or waiving of all Events of Default that may have occurred:

 

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

 

(ii)           in
the absence of gross negligence or willful misconduct on the part of the Trustee, the Trustee may conclusively and without liability
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;

 

    	 	39	 

     

    

 

(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;

 

(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 and without liability rely on its failure to receive such notice as reason to act
as if no such event occurred;

 

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

 

(h)            under
no circumstances shall the Trustee be liable in its individual capacity for the obligations evidenced by the Notes.

 

None of the provisions contained in this
Indenture shall require the Trustee to expend or risk its own funds or otherwise incur financial liability in the performance of
any of its duties 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 and without liability rely and shall be fully protected in acting upon any resolution, certificate, statement,
instrument, opinion, report, notice, request, consent, order, judgment, bond, note, coupon or other paper or document (whether
in its original or facsimile form) 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. The Trustee shall not be liable
for any action it takes or omits to take in good faith in reliance on an Officer’s Certificate, Opinion of Counsel or Board
Resolution.

 

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(c)            The
Trustee may consult with counsel of its selection and require an Opinion of Counsel and any written or verbal 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, judgment, order, bond, debenture or other paper or document,
but the Trustee 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.

 

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

 

(g)            The
Trustee shall not be required to give any bond or surety in respect of the performance of its powers and duties hereunder.

 

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

 

In no event shall the Trustee be liable
for any consequential, punitive, special, incidental or indirect loss or damage of any kind whatsoever (including but not limited
to lost profits), even if the Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action.
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 actually received by a Responsible Officer of the Trustee, from the Company or any Holder of
the Notes, at the Corporate Trust Office and such notice references the Notes and/or this Indenture and states that it is a “notice
of default.”

 

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

 

    	 	41	 

     

    

 

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

 

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 or its designee 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 or investment income 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 or willful misconduct as determined by a final, non-appealable decision of a court of competent jurisdiction.
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, attorneys, employees and agents and any authenticating agent for,
and to hold them harmless against, any loss, claim (whether asserted by the Company, a Holder or any Person), damage, liability
or expense incurred without gross negligence or willful misconduct on the part of the Trustee, its officers, directors, attorneys,
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 lien to which the Notes are hereby
made subordinate on all money or property held or collected by the Trustee, except, subject to the effect of Section 6.05,
funds held in trust herewith for the benefit of the Holders of particular Notes. The Trustee’s right to receive payment of
any amounts due under this Section 7.06 shall not be subordinate to any other liability or indebtedness of the Company. The
obligation of the Company under this Section 7.06 shall survive the satisfaction and discharge of this Indenture, the payment
or conversion of the Notes 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, attorneys, agents and employees of the Trustee.

 

    	 	42	 

     

    

 

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(h) or Section 6.01(i) occurs,
the expenses and the compensation for the services are intended to constitute expenses of administration under any bankruptcy,
insolvency or similar laws.

 

Section 7.07. Officer’s Certificate
as Evidence. Except as otherwise provided in Section 7.01, whenever in the administration of the provisions of this Indenture
it shall be 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 and
willful misconduct on the part of the Trustee, be deemed to be conclusively proved and established by an Officer’s Certificate
delivered to the Trustee, and such Officer’s Certificate, in the absence of gross negligence or willful misconduct on the
part of the Trustee, shall be full warrant to the Trustee for any action taken or omitted by it under the provisions of this Indenture
upon the faith thereof.

 

Section 7.08. Eligibility of Trustee.
There shall at all times be a Trustee hereunder which shall be a Person that is eligible pursuant to the Trust Indenture Act (as
if, 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 promptly 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. 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 Company, the resigning Trustee may, upon ten Business Days’ notice to the Company
and the Holders and at the expense of the Company, 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.

 

    	 	43	 

     

    

 

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

 

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

 

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

 

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, at the sole cost and
expense of the Company, 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 lien 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.

 

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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.

 

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
notice to the Company has been deemed to have been given pursuant to Section 17.03, unless any such officer shall have consented
in writing to any earlier date), unless, prior to taking any such action (or the effective date in the case of any omission), the
Trustee shall have received written instructions in accordance with this Indenture in response to such application specifying the
action to be taken or omitted.

 

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Article 8

Concerning the Holders

 

Section 8.01. Action by Holders.
Whenever in this Indenture it is provided that the Holders of a specified percentage of the aggregate principal amount of the Notes
may take any action (including the making of any demand or request, the giving of any notice, consent or waiver or the taking of
any other action), the fact that at the time of taking any such action, the Holders of such specified percentage have joined therein
may be evidenced (a) by any instrument or any number of instruments of similar tenor executed by Holders in person or by agent
or proxy appointed in writing, or (b) by the record of the Holders voting in favor thereof at any meeting of Holders duly
called and held in accordance with the provisions of Article 9, or (c) by a combination of such instrument or instruments
and any such record of such a meeting of Holders. Whenever the Company or the Trustee solicits the taking of any action by the
Holders of the Notes, the Company or the Trustee may fix, but shall not be required to, 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) 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 owner 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 Physical Note 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 Person directly or indirectly controlling or controlled by or under direct or indirect common control with 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 with respect to which a Responsible Officer has received written notice that such Notes 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 a Person directly or indirectly controlling or controlled
by or under direct or indirect common control with 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.

 

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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 Article 10;
or

 

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

 

Section 9.02. Call of Meetings by
Trustee. The Trustee may at any time call a meeting of Holders to take any action specified in Section 9.01, to be held
at such time and at such place as the Trustee shall determine. Notice of every meeting of the Holders, setting forth the time and
the place of such meeting and in general terms the action proposed to be taken at such meeting and the establishment of any record
date pursuant to Section 8.01, shall be delivered to Holders 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.

 

    	 	48	 

     

    

 

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.

 

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.

 

    	 	49	 

     

    

 

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.

 

Article 10

Supplemental Indentures

 

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

 

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

 

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

 

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

 

(d)            to
secure the Notes;

 

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

 

(f)             to
make any change that does not adversely affect the rights of any Holder under this Indenture or the Notes, as determined by the
Company in good faith;

 

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

 

(h)            to
provide for the appointment of and 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
conform the provisions of this Indenture or the Notes to any provision of the “Description of Notes” section of the
Offering Memorandum, as certified by the Company in an Officer’s Certificate;

 

    	 	50	 

     

    

 

(j)             to
make provisions with respect to conversion rights of the Holders pursuant to Section 14.07 ‎in accordance with the applicable
provisions of this Indenture; or

 

(k)            to
comply with the rules of the Depositary.

 

Upon the written request of the Company,
the Trustee is hereby authorized to, and shall 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 enter into any supplemental indenture that affects the Trustee’s own rights, duties, liabilities or immunities
under this Indenture or otherwise.

 

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

 

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, the Notes), the Company 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,
the Notes or any supplemental indenture or of modifying in any manner the rights of the Holders; provided, however,
that, without the consent of each Holder of an outstanding Note affected, no such supplemental indenture shall:

 

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

 

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

 

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

 

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

 

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

 

(f)            make
any Note payable in money, 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

 

    	 	51	 

     

    

 

(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 delivery to the Trustee of an Officer’s Certificate certifying that the consent of the requisite Holders as
aforesaid has been obtained 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, liabilities or immunities
under this Indenture or otherwise, in which case the Trustee may, but shall not be obligated to, enter into such supplemental indenture.

 

Holders do not need under this Section 10.02
to approve the particular form of any proposed supplemental indenture. It shall be sufficient if such Holders approve the substance
thereof. After any such supplemental indenture becomes effective, the Company shall deliver to the Holders (with a copy to the
Trustee) 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 request and 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 Company, to any modification of this Indenture contained in any such supplemental indenture may, at the Company’s
expense, be prepared and executed by the Company, authenticated upon receipt of a Company Order 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.

 

    	 	52	 

     

    

 

Article 11

Consolidation, Merger, Sale, Conveyance and Lease

 

Section 11.01. Company May Consolidate,
Etc. on Certain Terms. Subject to the provisions of Section 11.02, the Company shall not consolidate with or merge with
or into, or sell, convey, transfer or lease in one transaction or a series of transactions all or substantially all of the consolidated
properties and assets of the Company and its Subsidiaries, taken as a whole, to another Person (other than any such sale, conveyance,
transfer or lease to one or more of the Company’s Wholly Owned Subsidiaries), 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 (other
than any such sale, conveyance, transfer or lease to one or more of the Company’s Wholly Owned Subsidiaries) and upon the
assumption by the Successor Company, by supplemental indenture, executed and delivered to the Trustee, of all of the obligations
of the Company under the Notes and this Indenture, such Successor Company (if not the Company) shall succeed to and, except in
the case of a lease of all or substantially all of the Company’s properties and assets, shall be substituted for the Company,
with the same effect as if it had been named herein as the party of the first part, and may thereafter exercise every right and
power of, the Company under this Indenture. Such Successor Company thereupon may cause to be signed, and may issue either in its
own name or in the name of the Company any or all of the Notes issuable hereunder which theretofore shall not have been signed
by the Company and delivered to the Trustee; and, upon the order of such Successor Company instead of the Company and subject to
all the terms, conditions and limitations in this Indenture prescribed, the Trustee shall authenticate and shall deliver, or cause
to be authenticated and delivered, any Notes that previously shall have been signed and delivered by the Officers of the Company
to the Trustee for authentication, and any Notes that such Successor Company thereafter shall cause to be signed and delivered
to the Trustee for that purpose. All the Notes so issued shall in all respects have the same legal rank and benefit under this
Indenture as the Notes theretofore or thereafter issued in accordance with the terms of this Indenture as though all of such Notes
had been issued at the date of the execution hereof. In the event of any such consolidation, merger, sale, conveyance or transfer
(but not in the case of a lease), upon compliance with this Article 11 the Person named as the “Company” in the
first paragraph of this Indenture (or any successor that shall thereafter have become such in the manner prescribed in this Article 11)
may be dissolved, wound up and liquidated at any time thereafter and, except in the case of a lease, such Person shall be released
from its liabilities as obligor and maker of the Notes and from its obligations under this Indenture and the Notes.

 

    	 	53	 

     

    

 

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.

 

Article 12

Immunity of Incorporators, Stockholders, Officers and Directors

 

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

 

Article 13

Intentionally Omitted

 

Article 14

Conversion of Notes

 

Section 14.01.
Conversion Privilege. (a) Subject to and upon compliance with the provisions of this Article 14, each Holder of a
Note shall have the right, at such Holder’s option, to convert all or any portion (if the portion to be converted is $1,000
principal amount or a 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 June 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 June 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 7.7746 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”).

 

    	 	54	 

     

    

 

 

(b)            (i) Prior
to the close of business on the Business Day immediately preceding June 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 ten consecutive Trading Day period
(the “Measurement Period”) in which the Trading Price per $1,000 principal amount of Notes, as determined following
a written request by a Holder of Notes in accordance with this Section 14.01(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 and the Conversion Rate on each such
Trading Day. The Trading Prices shall be determined by the Bid Solicitation Agent pursuant to this Section 14.01(b)(i) and
the definition of Trading Price set forth in this Indenture. 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
in writing, 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 of at
least $5,000,000 aggregate principal amount of Notes (or such lesser amount as may then be outstanding) provides the Company with
reasonable evidence that the Trading Price per $1,000 principal amount of Notes would be less than 98% of the product of the Last
Reported Sale Price of the Common Stock and the Conversion Rate, at which time the Company shall instruct the Bid Solicitation
Agent in writing (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. At such time as the Company directs the Bid Solicitation Agent in writing
to solicit bid quotations, the Company shall provide the Bid Solicitation Agent with the names and contact details of the three
independent nationally recognized securities dealers selected by the Company, and the Company shall direct those security dealers
to provide bids to the Bid Solicitation Agent. Any such determination will be conclusive absent manifest error. If (x) the
Company is not acting as Bid Solicitation Agent, and the Company does not, when the Company is required to, instruct the Bid Solicitation
Agent to obtain bids, or if the Company so 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.
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) in writing. 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, the Trustee and the Conversion Agent
(if other than the Trustee) in writing, and thereafter neither the Company nor the Bid Solicitation Agent (if other than the Company)
shall be required to solicit bids (or determine the Trading Price of the Notes as set forth in this Indenture) again until a new
Holder request is made pursuant to this Section 14.01(b)(i). The Company may, by notice to Holders, appoint any Person to
be the Bid Solicitation Agent.

 

    	 	55	 

     

    

 

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

 

(A)            issue
to all or substantially all holders of the Common Stock any rights, options or warrants (other than in connection with a stockholder
rights plan) 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 (other than in connection with a stockholder rights plan prior to the separation of such rights from the Common
Stock), which distribution has a per share value, as reasonably determined by the Company, 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 the Holders of
the Notes, the Trustee and the Conversion Agent (if other than the Trustee) in writing 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, even if the Notes are not otherwise convertible at such time.

 

(iii)            If
(A) a transaction or event that constitutes (x) a Fundamental Change or (y) a Make-Whole Fundamental Change occurs
prior to the close of business on the Business Day immediately preceding June 1, 2025, regardless of whether a Holder has
the right to require the Company to repurchase the Notes pursuant to Section 15.02, or (B) 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 June 1, 2025, in each case pursuant to which the
Common Stock would be converted into cash, securities or other assets (other than a merger effected solely to change the Company’s
jurisdiction of incorporation that does not otherwise constitute a Make-Whole Fundamental Change or a Fundamental Change), then,
in each case, all or any portion of a Holder’s Notes may be surrendered for conversion at any time from or after the effective
date of the transaction or event until 35 Trading Days after the actual effective date of such transaction or event or, if such
transaction also constitutes a Fundamental Change (other than an Exempted 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) in writing
as promptly as practicable following the date the Company publicly announces such transaction or event, but in no event later than
the actual effective date of such transaction or event.

 

    	 	56	 

     

    

 

(iv)            Prior
to the close of business on the Business Day immediately preceding June 1, 2025, a Holder may surrender all or any portion
of its Notes for conversion at any time during any fiscal quarter commencing after the fiscal quarter ending on January 2,
2021 (and only during such fiscal 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 fiscal quarter is greater than or equal to 130% of the Conversion Price on each applicable Trading Day.

 

(v)            If
the Company calls any or all of the Notes for redemption pursuant to Article 16 prior to the Maturity Date, then a Holder
may surrender all or any portion of its Called Notes for conversion at any time prior to the close of business on the second Scheduled
Trading Day prior to the Redemption Date, even if the Called Notes are not otherwise convertible at such time. After that time,
the right to convert such Called Notes on account of the Company’s delivery of a Redemption Notice shall expire, unless the
Company defaults in the payment of the Redemption Price, in which case a Holder of Called Notes may convert all or any portion
of its Called Notes until the Redemption Price has been paid or duly provided for. If the Company elects to redeem fewer than all
of the outstanding Notes pursuant to Article 16, and the Holder of any Note (or any owner of a beneficial interest in any
Global Note) is reasonably not able to determine, before the close of business on the 44th Scheduled Trading Day immediately before
the relevant Redemption Date, whether such Note or beneficial interest, as applicable, is to be redeemed pursuant to such redemption,
then such Holder or owner, as applicable, shall be entitled to convert such Note or beneficial interest, as applicable, at any
time before the close of business on the second Scheduled Trading Day prior to such Redemption Date, unless the Company defaults
in the payment of the Redemption Price, in which case such Holder or owner, as applicable, shall be entitled to convert such Note
or beneficial interest, as applicable, until the Redemption Price has been paid or duly provided for, and each such conversion
shall be deemed to be of a Note called for redemption, and such Note or beneficial interest shall be deemed called for redemption
solely for the purposes of such conversion (“Deemed Redemption”). If a Holder elects to convert Called Notes
pursuant to this Section 14.01(b)(v) during the related Redemption Period, the Company shall, under certain circumstances,
increase the Conversion Rate for such Called Notes pursuant to Section 14.03. Accordingly, if the Company elects to redeem
fewer than all of the outstanding Notes pursuant to Article 16, Holders of the Notes that are not Called Notes shall not be
entitled to convert such Notes pursuant to this Section 14.01(b)(v) and shall not be entitled to an increased Conversion
Rate on account of the Redemption Notice, even if such Notes are otherwise convertible pursuant to any other provision of this
Section 14.01(b) and are converted during the related Redemption Period.

 

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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
satisfy its Conversion Obligation by paying to the converting Holder in cash the Principal Portion of Notes being converted and
paying or delivering, as the case may be, cash, shares of Common Stock or a combination of cash and shares of Common Stock, at
the Company’s election, to the converting Holder in respect of the remainder, if any, of the Conversion Obligation in excess
of each $1,000 principal amount of Notes being converted. Pursuant to the foregoing sentence, the Company shall pay (and deliver,
if applicable) to the converting Holder 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 40 consecutive Trading Days during the relevant Observation Period.

 

(i)            All
conversions occurring (x) on or after June 1, 2025 or (y) during a Redemption Period shall be settled using the
same Cash Percentage.

 

(ii)            Except
for any conversions for which the relevant Conversion Date occurs during a Redemption Period and any conversions for which the
relevant Conversion Date occurs on or after June 1, 2025, the Company shall use the same Cash Percentage for all conversions
occurring on the same Conversion Date, but the Company shall not have any obligation to use the same Cash Percentage with respect
to conversions that occur on different Conversion Dates.

 

(iii)            If,
in respect of any Conversion Date (or one of the periods described in the fourth immediately succeeding set of parentheses, as
the case may be), the Company elects a Cash Percentage, the Company shall deliver a written notice (the “Settlement Notice”)
of the Cash Percentage so elected in respect of such Conversion Date (or such period, as the case may be) to converting Holders,
the Trustee and the Conversion Agent (if other than the Trustee) no later than the close of business on the Trading Day immediately
following the relevant Conversion Date (or, in the case of any conversions occurring (i) during a Redemption Period, in such
Redemption Notice, or (ii) on or after June 1, 2025, no later than the close of business on the Business Day immediately
preceding June 1, 2025, and the Company will indicate in such notice the percentage (the “Cash Percentage”)
of the excess, if any, of the Daily Conversion Value over the Daily Principal Portion of the Notes being converted that will be
paid in cash, if any. If the Company does not timely elect a Cash Percentage prior to the deadline set forth in the immediately
preceding sentence, the Company shall be deemed to have elected a Cash Percentage of 0%, and will settle such excess in shares
of Common Stock.

 

    	 	58	 

     

    

 

(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 for converting a beneficial interest in a Global Note and, if required, pay funds equal
to interest payable on the next Interest Payment Date to which such Holder is not entitled as set forth in Section 14.02(h) (and,
if required, pay all transfer or similar taxes, if any, as set forth in Section 14.02(d) and Section 14.02(e))
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, PDF or other electronic transmission thereof) (a “Notice
of Conversion”) at the office of the Conversion Agent and state in writing therein the principal amount of Notes to be
converted and the name or names (with addresses) in which such Holder wishes the certificate or certificates for any shares of
Common Stock to be delivered upon settlement of the Conversion Obligation to be registered, (2) surrender such Notes, duly
endorsed to the Company or in blank (and accompanied by appropriate endorsement and transfer documents), at the office of the Conversion
Agent, (3) if required, furnish appropriate endorsements and transfer documents and (4) if required, pay funds equal
to interest payable on the next Interest Payment Date to which such Holder is not entitled as set forth in Section 14.02(h).
The Trustee (and, if different, the Conversion Agent) shall notify the Company of any conversion pursuant to this Article 14
on the Conversion Date for such conversion. No Notes may be surrendered for conversion by a Holder thereof if such Holder has also
delivered a Fundamental Change Repurchase Notice to the Company in respect of such Notes and has not validly withdrawn such Fundamental
Change Repurchase Notice in accordance with Section 15.03.

 

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

 

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

 

    	 	59	 

     

    

 

(e)            If
a Holder submits a Note for conversion, the Company shall pay any documentary, stamp or similar issue or transfer tax or other
similar governmental charge due on any issuance of any shares of Common Stock upon conversion, unless the tax is due because the
Holder requests any 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.

 

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

 

(i)            The
Person in whose name the certificate for any shares of Common Stock delivered upon conversion is registered shall be deemed to
be the holder of record of such shares of Common Stock as of the close of business on the last Trading Day of the relevant Observation
Period. Upon a conversion of Notes, such Person shall no longer be a Holder of such Notes surrendered for conversion.

 

    	 	60	 

     

    

 

(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 on the last Trading Day of the
relevant Observation Period.

 

(k)            If
a Holder converts more than one Note on a Conversion Date, then the consideration due upon such conversion will (in the case of
any Global Note, to the extent permitted by, and practicable under, the applicable procedures of the Depositary) be computed based
on the total principal amount of Notes converted on such Conversion Date by that Holder.

 

Section 14.03.
Increased Conversion Rate Applicable to Certain Notes Surrendered in Connection with Make-Whole Fundamental Changes or Called Notes
During a Redemption Period. (a)  If (i) the Effective Date of a Make-Whole Fundamental Change occurs prior to the
Maturity Date and a Holder elects to convert its Notes in connection with such Make-Whole Fundamental Change or (ii) the Company
issues a Redemption Notice pursuant to Section 16.02 and a Holder elects to convert its Called Notes pursuant to Section 14.01(b)(v) during
the related Redemption Period, as the case may be, the Company shall, under the circumstances described below, in each case 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 an Exempted Fundamental Change, or 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”). For the avoidance of doubt, if the Company issues a Redemption Notice pursuant to Section 16.02,
the Company shall increase the Conversion Rate hereunder during the related Redemption Period only with respect to conversions
of Called Notes, and not for Notes that are not Called Notes. Accordingly, if the Company elects to redeem fewer than all of the
outstanding Notes pursuant to Article 16, Holders of the Notes that are not Called Notes shall not be entitled to convert
such Notes pursuant to Section 14.01(b)(v) and shall not be entitled to an increased Conversion Rate for conversions
of such Notes on account of the Redemption Notice, even if such Notes are otherwise convertible pursuant to Section 14.01(b)(i)-(iv) and
are converted during the related Redemption Period.

 

(b)            Upon
surrender of Notes for conversion in connection with a Make-Whole Fundamental Change pursuant to Section 14.01(b)(iii) or
upon surrender of Called Notes during a Redemption Period pursuant to Section 14.01(b)(v), the Company shall, pay (and deliver,
if applicable) the consideration due in respect of such converted Notes in accordance with Section 14.02 based on the Conversion
Rate as increased to reflect the Additional Shares pursuant to the table below; provided, however, that if, the Reference
Property in any Make-Whole Fundamental Change described in clause (b) of the definition of 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 increase to reflect the Additional Shares),
multiplied by such Stock Price. In such event, the Conversion Obligation shall be determined and paid to Holders in cash
on the second Business Day following the Conversion Date. The Company shall notify the Holders, the Trustee and the Conversion
Agent (if other than the Trustee) in writing of the Effective Date of any Make-Whole Fundamental Change no later than five Business
Days after such Effective Date.

 

    	 	61	 

     

    

 

(c)            The
number of Additional Shares, if any, by which the Conversion Rate shall be increased for conversions during the Make-Whole Fundamental
Change Period or, with respect to conversions of Called Notes, during the Redemption Period shall be determined by reference to
the table below, based on the date on which the Make-Whole Fundamental Change occurs or becomes effective (the “Effective
Date”) or the Redemption Notice Date, as applicable and the price (the “Stock Price”) paid (or deemed
to be paid) per share of Common Stock in the Make-Whole Fundamental Change or on the Redemption Notice Date, as applicable, as
set forth in this Section 14.03. 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. In the case of any other Make-Whole Fundamental Change or in the case of any Optional Redemption,
the Stock Price shall be the average of the Last Reported Sale Prices of the Common Stock over the five consecutive Trading Day
period ending on, and including, the Trading Day immediately preceding the Effective Date of the Make-Whole Fundamental Change
or the Redemption Notice Date, as the case may be. In the event that a Conversion Date occurs during both a Redemption Period and
a Make-Whole Fundamental Change Period, a Holder of any such Notes to be converted will be entitled to a single increase to the
Conversion Rate with respect to the first to occur of the applicable Redemption Notice Date or Effective Date, and the later event
shall be deemed not to have occurred for purposes of this Section 14.03.

 

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

 

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

 

	 	 	Stock
    Price	 
	Effective
    Date /

    Redemption 

    Notice Date	 	$96.71	 	 	$100.00	 	 	$110.00	 	 	$120.00	 	 	$128.62	 	 	$140.00	 	 	$150.00	 	 	$167.21	 	 	$200.00	 	 	$250.00	 	 	$300.00	 	 	$400.00	 	 	$500.00	 
	August 21,
    2020	 	 	2.5655	 	 	 	2.4692	 	 	 	1.9629	 	 	 	1.5751	 	 	 	1.3114	 	 	 	1.0380	 	 	 	0.8509	 	 	 	0.6119	 	 	 	0.3372	 	 	 	0.1411	 	 	 	0.0574	 	 	 	0.0038	 	 	 	0.0000	 
	September 1,
    2021	 	 	2.5655	 	 	 	2.4364	 	 	 	1.9072	 	 	 	1.5056	 	 	 	1.2353	 	 	 	0.9586	 	 	 	0.7721	 	 	 	0.5385	 	 	 	0.2798	 	 	 	0.1067	 	 	 	0.0385	 	 	 	0.0006	 	 	 	0.0000	 
	September 1,
    2022	 	 	2.5655	 	 	 	2.3821	 	 	 	1.8238	 	 	 	1.4057	 	 	 	1.1284	 	 	 	0.8498	 	 	 	0.6662	 	 	 	0.4432	 	 	 	0.2104	 	 	 	0.0694	 	 	 	0.0204	 	 	 	0.0000	 	 	 	0.0000	 
	September 1,
    2023	 	 	2.5655	 	 	 	2.3041	 	 	 	1.7030	 	 	 	1.2609	 	 	 	0.9749	 	 	 	0.6966	 	 	 	0.5207	 	 	 	0.3187	 	 	 	0.1296	 	 	 	0.0336	 	 	 	0.0063	 	 	 	0.0000	 	 	 	0.0000	 
	September 1,
    2024	 	 	2.5655	 	 	 	2.2254	 	 	 	1.5236	 	 	 	1.0345	 	 	 	0.7336	 	 	 	0.4627	 	 	 	0.3084	 	 	 	0.1557	 	 	 	0.0459	 	 	 	0.0075	 	 	 	0.0001	 	 	 	0.0000	 	 	 	0.0000	 
	September 1,
    2025	 	 	2.5655	 	 	 	2.2254	 	 	 	1.3164	 	 	 	0.5588	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 

 

    	 	62	 

     

    

 

The exact Stock Prices and Effective Dates or Redemption Notice
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 or the Redemption Notice Date, as the case
may be, is between two Effective Dates or Redemption Notice Dates, as applicable, 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 or Redemption Notice
Dates, as applicable, based on a 365-day year;

 

(ii)            if
the Stock Price is greater than $500.00 per share (subject to adjustment in the same manner as the Stock Prices set forth in the
column headings of the table above pursuant to subsection (d) above), no Additional Shares shall be added to the Conversion
Rate; and

 

(iii)            if
the Stock Price is less than $96.71 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 10.3401 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 that would otherwise be required pursuant to Section 14.04.

 

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.

 

    	 	63	 

     

    

 

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

 

 

where,

 

 

	CR0	=	the Conversion Rate in effect immediately prior to the open of business on the Ex-Dividend Date of such dividend or distribution, or immediately prior to the open of business on the Effective Date of such share split or share combination, as applicable;
	 	 	 
	CR'	 =	the Conversion Rate in effect immediately after the open of business on such Ex-Dividend Date or Effective Date;
	 	 	 
	OS0	=	the number of shares of Common Stock outstanding immediately prior to the open of business on such Ex-Dividend Date or Effective Date (before giving effect to any such dividend, distribution, share split or share combination); and
	 	 	 
	OS'	 =	the number of shares of Common Stock outstanding immediately after giving effect to such dividend, distribution, share split or share combination.

 

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

 

    	 	64	 

     

    

 

 

 

(b)            If
the Company issues to all or substantially all holders of 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 Common Stock
at a price per share that is less than the average of the Last Reported Sale Prices of 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.

 

For purposes of this Section 14.04(b) and
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 of 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 Company.

 

(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 (or would
be effected, disregarding the 1% Provision) 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 (or would be effected, disregarding the 1% Provision)
pursuant to Section 14.04(d), (iii) distributions of Reference Property in a transaction described in Section 14.07
and (iv) Spin-Offs as to which the provisions set forth below in this Section 14.04(c) shall apply (or would apply,
disregarding the 1% Provision) (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:

 

    	 	65	 

     

    

 

 

 

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 Company) 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 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. In the case of any distribution of rights, options or warrants, to the extent such rights, options or warrants
expire unexercised, the applicable Conversion Rate shall be immediately readjusted to the applicable Conversion Rate that would
then be in effect had the increase made for the distribution of such rights, options or warrants been made on the basis of delivery
of only the number of shares of Common Stock actually delivered upon the exercise of such rights, options or warrants. 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.

 

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 any 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:

 

    	 	66	 

     

    

 

 

 

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 definitions of Last Reported Sale Price, Trading Day and Market Disruption Event 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, for any Trading Day
that falls within the relevant Observation Period for such conversion and within the Valuation Period, references to “10”
in the portion of this Section 14.04(c) related to Spin-Offs shall be deemed 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. If any dividend or distribution that constitutes a Spin-Off is declared but not so
paid or made, the Conversion Rate shall be immediately decreased, effective as of the date the Company determines not to pay or
make such dividend or distribution, to the Conversion Rate that would then be in effect if such dividend or distribution had not
been declared or announced.

 

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.

 

    	 	67	 

     

    

 

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

 

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

 

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

 

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

 

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

 

    	 	68	 

     

    

 

 

 

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 of the Common Stock
on the Trading Day immediately preceding the Ex-Dividend Date for such dividend or distribution; and

 

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

 

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

 

(e)            If
the Company or any of its Subsidiaries make a payment in respect of a tender or exchange offer for the Common Stock (other than
any odd-lot tender offer), 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;

 

    	 	69	 

     

    

 

	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 Company) paid or payable for shares
of Common Stock purchased in such tender or exchange offer;

 

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

 

	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, 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 this Section 14.04(e) 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.

 

If the Company is obligated to purchase shares of Common Stock
pursuant to any such tender or exchange offer described in this Section 14.04(e) but is permanently prevented by applicable
law from effecting any such purchase or all such purchases are rescinded, the applicable Conversion Rate will be readjusted to
be the Conversion Rate that would then be in effect if such tender or exchange offer had not been made or had been made only in
respect of the purchases that have been made.

 

(f)            Notwithstanding
this Section 14.04 or any other provision of this Indenture or the Notes, if:

 

(i)            a
Conversion Rate adjustment for any dividend or distribution becomes effective on any Ex-Dividend Date pursuant to the provisions
in this Section 14.04;

 

(ii)            a
Note is to be converted;

 

    	 	70	 

     

    

 

(iii)            any
Trading Day in the Observation Period for such conversion occurs on or after such Ex-Dividend Date and on or before the related
Distribution Record Date;

 

(iv)            the
consideration due in respect of such Trading Day includes any whole or fractional shares of Common Stock based on a Conversion
Rate that is adjusted for such dividend or distribution; and

 

(v)            such
shares of Common Stock would be entitled to participate in such dividend or distribution,

 

then the shares of Common Stock issuable
with respect to such Trading Day based on such adjusted Conversion Rate will not be entitled to participate in such dividend or
distribution.

 

(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 subject
to the applicable listing standards of The Nasdaq Global Select Market, 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 Company determines that such increase would be in the Company’s
best interest. In addition, subject to the applicable listing standards of The Nasdaq Global Select Market, the Company may (but
is not required to) increase the applicable Conversion Rate to avoid or diminish income tax to holders of Common Stock or rights
to purchase shares of Common Stock in connection with a dividend or distribution of shares of Common Stock (or rights to acquire
shares of Common Stock) or similar event.

 

(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 or incentive plan or program of or assumed by the Company or any of the Company’s Subsidiaries;

 

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

 

    	 	71	 

     

    

 

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

 

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

 

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

 

(j)            The
Company shall not be required to make an adjustment pursuant to clauses (a), (b), (c), (d) or (e) of this Section 14.04
unless such adjustment would result in a change of at least 1% of the then effective Conversion Rate. However, the Company shall
carry forward any adjustment that the Company would otherwise have to make and take that adjustment into account in any subsequent
adjustment. Notwithstanding the foregoing, all such carried-forward adjustments shall be made with respect to the Notes (i) where
the aggregate of all such carried-forward adjustments equals or exceeds 1% of the Conversion Rate and (ii) regardless of whether
the aggregate adjustment is less than 1% of the Conversion Rate, on each Trading Day of any Observation Period with respect to
any Notes. 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 (the “1% Provision”).

 

(k)            Whenever
the Conversion Rate is adjusted as herein provided, the Company shall promptly deliver to the Trustee (and the Conversion Agent
if not the Trustee) an Officer’s Certificate setting forth (i) the adjusted Conversion Rate, (ii) the subsection
of this Section 14.04 pursuant to which such adjustment has been made, showing in reasonable detail the facts upon which such
adjustment is based and (iii) the date as of which such adjustment is effective (which certificates shall be conclusive evidence
of the accuracy of such adjustment absent manifest error). 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.

 

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 Net Settlement Amounts over a span of multiple days (including, without limitation, an
Observation Period and the period, if any, for determining the Stock Price for purposes of a Make-Whole Fundamental Change or a
Redemption Notice), the Company shall make appropriate adjustments in good faith and in a commercially reasonable manner 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 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 Net Settlement Amounts are to be calculated.

 

    	 	72	 

     

    

 

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).

 

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 amount otherwise payable in cash 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) the Company will continue to have the right to elect to determine the Cash Percentage in respect
of the remainder, if any, of its Conversion Obligation in excess of the principal amount of Notes being converted in accordance
with Section 14.02, (III) the number of shares of Common Stock, if any, otherwise deliverable by the Company 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 received in such Merger Event and (IV) the Daily VWAP and Last
Reported Sale Price shall be calculated based on the value of a unit of Reference Property.

 

    	 	73	 

     

    

 

If the Merger Event causes the Common Stock
to be converted into, or exchanged for, the right to receive more than a single type of consideration (determined based in part
upon any form of stockholder election), then (i) the Reference Property into which the Notes will be convertible shall be
deemed to be the weighted average of the types and proportionate amounts of consideration actually received by the holders of Common
Stock, and (ii) the unit of Reference Property for purposes of the immediately preceding paragraph shall refer to the consideration
referred to in clause (i) attributable to one share of Common Stock. If the holders of the Common Stock receive only cash
in such Merger Event, then for all conversions for which the relevant Conversion Date occurs after the effective date of such Merger
Event (A) the consideration due upon conversion of each $1,000 principal amount of Notes shall be solely cash in an amount
equal to the Conversion Rate in effect on the Conversion Date (as may be increased by any Additional Shares pursuant to Section 14.03),
multiplied by the price paid per share of Common Stock in such Merger Event and (B) the Company shall satisfy the Conversion
Obligation by paying cash to converting Holders on the second Business Day immediately following the relevant Conversion Date.
The Company shall notify Holders, the Trustee and the Conversion Agent (if other than the Trustee) in writing 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 are as nearly equivalent
as possible to the adjustments provided for in this Article 14 and will contain such additional provisions to protect the
conversion rights of the Holders that the Company reasonably considers necessary. If, in the case of any Merger Event, the Reference
Property includes shares of stock, securities or other property or assets of a Person other than the Company or the successor or
purchasing corporation (excluding, for the avoidance of doubt, cash paid by such surviving company, 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 as the Company reasonably considers 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
deliver to 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 or cause to be delivered
notice thereof to all Holders. The Company shall cause notice of the execution of such supplemental indenture to be delivered to
each Holder within 20 days after execution thereof. Failure to deliver such notice shall not affect the legality or validity of
such supplemental indenture.

 

    	 	74	 

     

    

 

 

(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 and shares of Common Stock
(if any) 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.

 

(e)            Upon
the consummation of any Merger Event, references to “Common Stock” shall be deemed to refer to any Reference Property
that constitutes capital stock after giving effect to such Merger Event.

 

Section 14.08. Certain Covenants.
(a) The Company covenants that all shares of Common Stock issued upon conversion of Notes, if any, 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 deliver to 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). Except as otherwise expressly provided herein, neither the Trustee nor
any other agent acting under this Indenture (other than the Company, if acting in such capacity) shall have any obligation to make
any calculation or to determine whether the Notes may be surrendered for conversion pursuant to this Indenture, or to notify the
Company or the Depositary or any of the Holders if the Notes have become convertible pursuant to the terms of this Indenture.

 

    	 	75	 

     

    

 

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 delivered to 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, if any, 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, if any, 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 the first paragraph of Section 14.04(c), subject to readjustment
in the event of the expiration, termination or redemption of such rights.

 

    	 	76	 

     

    

 

Section 14.12. Exchange In Lieu
Of Conversion. (a) When a Holder surrenders its Notes for conversion, the Company may, at its election, direct the Conversion
Agent to surrender, on or prior to the Business Day immediately following the relevant Conversion Date, such Notes to one or more
financial institutions designated by the Company (each, a “Designated Institution”) for exchange in lieu of
conversion (an “Exchange Election”). In order to accept any Notes surrendered for conversion for exchange in
lieu of conversion, the Designated Institution(s) must agree to timely pay (and deliver, if applicable), in exchange for such
Notes, the same forms and proportionate amounts of consideration, at the Company’s election, that would otherwise be due
upon conversion as described in Section 14.02 above or such other amount agreed to by the converting Holder and the Designated
Institution(s) (the “Conversion Consideration”). If the Company makes the election described above, the
Company shall, by the close of business on the Business Day following the relevant Conversion Date, notify in writing the Holder
surrendering Notes for conversion, the Trustee and the Conversion Agent (if other than the Trustee), that it has made such election,
and the Company shall notify the Designated Institution(s) of the relevant deadline for delivery of the Conversion Consideration
and the type of Conversion Consideration to be paid and/or delivered (unless the form of Conversion Consideration has been otherwise
agreed by the Holder and the Designated Institution(s) as set forth in this Section 14.12. Any Notes exchanged by any
Designated Institution will remain outstanding, subject to applicable procedures of the Depositary.

 

(b)            If
any Designated Institution agrees to accept any Notes for exchange but does not timely pay and/or deliver, as the case may be,
the related Conversion Consideration to the Conversion Agent, or if such Designated Institution does not accept such Notes for
exchange, the Company shall, within the time period specified in Section 14.02(c), pay (and deliver, if applicable) the Conversion
Consideration in accordance with the provisions of Section 14.02 as if the Company had not made the Exchange Election.

 

(c)            For
the avoidance of doubt, in no event will the Company’s designation of a Designated Institution pursuant to this Section 14.12
require such Designated Institution to accept any Notes for exchange.

 

    	 	77	 

     

    

 

Article 15

Repurchase of Notes at Option of Holders

 

Section 15.01. Intentionally Omitted.

 

Section 15.02. Repurchase at Option
of Holders Upon a Fundamental Change. (a)  If a Fundamental Change occurs at any time prior to the Maturity Date, each
Holder shall have the right, at such Holder’s option, to require the Company to repurchase for cash all of such Holder’s
Notes, or any portion of the principal amount thereof properly surrendered and not validly withdrawn pursuant to Section 15.03
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 or more than 35 Business Days following the date of the Fundamental Change Company Notice
at a repurchase price equal to 100% of the principal amount thereof, plus accrued and unpaid interest thereon to, but excluding,
the Fundamental Change Repurchase Date (the “Fundamental Change Repurchase Price”), unless the Fundamental Change
Repurchase Date falls after a Regular Record Date but on or prior to the Interest Payment Date to which such Regular Record Date
relates, in which case the Company shall instead pay the full amount of accrued and unpaid interest to the Holder of record as
of such Regular 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. Any Notes so repurchased by the Company shall be paid for in cash. The Fundamental
Change Repurchase Date shall be subject to postponement in order to allow the Company to comply with applicable law as a result
of changes to such applicable law occurring after the date of this Indenture.

 

(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 written 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;

 

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

 

    	 	78	 

     

    

 

(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 Business Day after the occurrence of the effective date of a Fundamental Change, the Company shall provide to
all Holders, the Trustee, the Conversion Agent and the Paying Agent (in the case of a Paying Agent other than the Trustee) a written
notice (the “Fundamental Change Company Notice”) of the occurrence of the effective date of the Fundamental
Change and of the resulting 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 as a result of such Fundamental Change (or related Make-Whole
Fundamental Change);

 

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

 

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

 

    	 	79	 

     

    

 

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 written request,
given at least five days prior to the date the Fundamental Change Company Notice is to be sent, 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.

 

(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 cancelled, and, upon such return or
cancellation, as the case may be, the Fundamental Change Repurchase Notice with respect thereto shall be deemed to have been withdrawn.

 

(e)            The
Company shall not be required to repurchase or make an offer to repurchase Notes upon the occurrence of a Fundamental Change otherwise
required under this ‎Section 15.02 if a third party makes such an offer to purchase Notes in the same manner, at the same
time and otherwise in compliance with the requirements for an offer made by the Company as set forth in this Indenture and such
third party purchases all Notes properly surrendered and not validly withdrawn under such offer to purchase.

 

(f)            The
Company shall not be required to give a Fundamental Change Company Notice or to repurchase or make an offer to repurchase Notes
upon the occurrence of a Fundamental Change under this ‎‎Section 15.02 if:

 

(i)            such
Fundamental Change constitutes a consolidation, merger, binding share exchange event or transfer or lease of all or substantially
all of the Company’s assets, in each case for which the resulting reference property consists entirely of cash in U.S. dollars;

 

(ii)           immediately
after such Fundamental Change, the Notes become convertible pursuant to Section 14.07 and, if applicable, Section 14.03
into consideration that consists solely of U.S. dollars in an amount per $1,000 principal amount of Notes that equals or exceeds
the Fundamental Change Repurchase Price per $1,000 principal amount of Notes (calculated assuming a Fundamental Change Repurchase
Date that results in a Fundamental Change Repurchase Price that includes the maximum amount of accrued interest); and

 

    	 	80	 

     

    

 

(iii)          the
Company timely sends the notice required pursuant to Section 14.01(b)(iii).

  

Any Fundamental Change with respect to which,
in accordance with this Section 15.02(f), the Company does not offer to repurchase any Notes, an “Exempted Fundamental
Change.”

 

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 relevant 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 $1,000 or a multiple
thereof,

 

(ii)            if
Physical Notes have been issued, the certificate numbers of the Notes in respect of which such notice of withdrawal is being submitted,
and

 

(iii)           the
principal amount, if any, of such Notes 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;

 

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 pay the Fundamental Change Repurchase Price of the Notes to be repurchased on the Fundamental
Change Repurchase Date, then, with respect to the Notes that have been properly surrendered for repurchase to the Trustee (or other
Paying Agent appointed by the Company) and have not been validly withdrawn in accordance with the provisions of this Indenture,
(i) such Notes will cease to be outstanding, (ii) interest will cease to accrue on such Notes (whether or not book-entry
transfer of the Notes has been made or the Notes have been delivered to the Trustee (or other Paying Agent appointed by the Company))
and (iii) all other rights of the Holders of such Notes will terminate (other than the right to receive the Fundamental Change
Repurchase Price).

 

    	 	81	 

     

    

 

(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 pursuant to this Article 15, the
Company will, if required:

 

(a)            comply
with the provisions of any tender offer rules under the Exchange Act that may then be applicable;

 

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

 

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

 

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

 

Article 16

Optional Redemption

 

Section 16.01. Optional Redemption.
The Notes shall not be redeemable by the Company prior to September 5, 2023. On or after September 5, 2023 and prior
to the 41st Scheduled Trading Day immediately preceding the Maturity Date, the Company may, at its option, redeem (an “Optional
Redemption”) for cash all or any portion of the Notes, 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)
during any 30 consecutive Trading Day period (including the last trading day of such 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, such written request to contain the information in the Redemption Notice to
be sent to Holders, as set forth below, received by the Trustee not less than 5 Business Days prior to the date such Redemption
Notice is to be sent (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 written notice of such Optional Redemption (a “Redemption
Notice”) not less than 45 nor more than 55 Scheduled Trading Days prior to the Redemption Date to the Trustee, the Conversion
Agent (if other than the Trustee), the Paying Agent, and each Holder of Notes so to be redeemed as a whole or in part; provided
that, if the Company shall give such notice (other than by providing its written request to the Trustee as set forth above),
it shall also give written notice of the Redemption Date to the Trustee. The Redemption Date must be a Business Day.

 

    	 	82	 

     

    

 

(b)            The
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 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;

 

(ii)            the
Redemption Price;

 

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

 

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

 

(v)            that
Holders of Called Notes may surrender their Called Notes for conversion at any time prior to the close of business on the second
Scheduled Trading Day immediately preceding the Redemption Date;

 

(vi)           the
procedures a converting Holder must follow to convert its Called Notes and the applicable Cash Percentage;

 

(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, which
principal amount must be $1,000 or a multiple thereof.

 

    	 	83	 

     

    

 

A Redemption Notice shall be irrevocable.

 

(d)            If
fewer than all of the outstanding Notes are to be redeemed, the Notes to be redeemed will be selected according to the Depositary’s
applicable procedures, in the case of Notes represented by a Global Note, or, in the case of Notes represented by Physical Notes,
the Trustee shall select, in such manner as shall be appropriate and fair, Notes to be redeemed in whole or in part. 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 (so far as may be possible) to be the portion selected for redemption, subject, in the case of Notes
represented by a Global Note, to the Depositary’s applicable procedures.

 

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.

 

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

 

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.

 

    	 	84	 

     

    

 

 

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
delivered by the Company to the Trustee) to The Middleby Corporation, 1400 Toastmaster Drive, Elgin, Illinois 60120, 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. Notwithstanding any other provision
of the Indenture, notices to the Trustee shall only be deemed received upon actual receipt thereof by a Responsible Officer.

 

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

 

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

 

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.

 

    	 	85	 

     

    

 

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 to such action have been complied with; provided that no Opinion of Counsel shall be required to be delivered
in connection with the removal of the restricted CUSIP of the Restricted Securities to an unrestricted CUSIP pursuant to the applicable
procedures of the Depositary upon the Notes becoming freely tradable by non-Affiliates of the Company under Rule 144, unless
a new Note is to be issued and authenticated (in which case the Opinion of Counsel required by Section 2.04 shall be delivered);
provided further that no Opinion of Counsel shall be required to be delivered in connection with a request by the Company
that the Trustee deliver a notice to Holders under the Indenture where the Trustee receives an Officer’s Certificate with
respect to such notice. With respect to matters of fact, an Opinion of Counsel may rely on an Officer’s Certificate or certificates
of public officials.

 

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

 

Section 17.06. Legal Holidays.
In any case where any Interest Payment Date, Redemption Date, Fundamental Change Repurchase Date or Maturity Date is not a Business
Day, then any action to be taken on such date need not be taken on such date, but may be taken on the next succeeding Business
Day with the same force and effect as if taken on such date, and no interest shall accrue on such payment in respect of the delay.

 

    	 	86	 

     

    

 

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.

 

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

 

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

 

    	 	87	 

     

    

 

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 Signatory

 

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,
PDF or other electronic 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,
PDF or such other electronic means shall be deemed to be their original signatures for all purposes. Unless otherwise provided
in this Indenture or in any Note, the words “execute,” “execution,” “signed” and “signature”
and words of similar import used in or related to any document to be signed in connection with this Indenture, any Note or any
of the transactions contemplated hereby (including amendments, waivers, consents and other modifications) shall be deemed to include
electronic signatures and 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 in ink or the use of a paper-based recordkeeping system, as applicable, to the
fullest 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 and any other similar state laws based on the Uniform Electronic
Transactions Act; provided that, notwithstanding anything herein to the contrary, the Trustee is not under any obligation
to agree to accept electronic signatures in any form or in any format except for facsimile or .PDF unless expressly agreed to by
the Trustee pursuant to procedures approved by the Trustee.

 

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.

 

    	 	88	 

     

    

 

Section 17.14. Force Majeure.
In no event shall the Trustee or any of the agents 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,
any act or provision of any present or future law or regulation or governmental authority, strikes, work stoppages, accidents,
acts of war or terrorism, pandemics, epidemics, recognized public emergencies, quarantine restrictions, 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 or the unavailability of the Federal Reserve Bank wire or telex or other wire or communication
facility; it being understood that the Trustee or any of the agents, as the case may be, 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 Net Settlement Amounts, accrued interest
payable on the Notes (including, for the avoidance of doubt, any Additional Interest payable under this Indenture), the Conversion
Rate and the Conversion Price 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. The Company shall provide a schedule of its calculations
to each of the Trustee and the Conversion Agent, and each of the Trustee and Conversion Agent is entitled to rely conclusively
upon the accuracy of the Company’s calculations without independent verification. The Trustee will forward the Company’s
calculations to any registered Holder upon the written request of that Holder at the sole cost and expense of the Company. Neither
the Trustee nor the Conversion Agent shall have any responsibility to make calculations under this Indenture nor shall either of
them have any responsibility to monitor the Company’s stock or trading price, determine whether the conditions to convertibility
of the Notes have been met or determine whether the circumstances requiring changes to the Conversion Rate have occurred.

 

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.

 

Section 17.17. No Personal Liability
of Directors, Officers, Employees or Stockholders. None of the Company’s past, present or future directors, officers,
employees or stockholders, as such, shall have any liability for any of the Company’s obligations under the Notes or this
Indenture or for any claim based on, or in respect or by reason of, such obligations or their creation. By accepting a Note, each
Holder waives and releases all such liability. This waiver and release is part of the consideration for the Notes.

 

[Remainder of page intentionally
left blank]

 

    	 	89	 

     

    

 

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

 

	 	THE MIDDLEBY CORPORATION

 

	 	By:		/s/ Bryan E. Mittelman
	 	 	Name:	Bryan E. Mittelman
	 	 	Title:	Chief Financial Officer

 

	 	U.S. BANK NATIONAL ASSOCIATION, as Trustee

 

	 	By:		/s/ Richard H. Prokosch
	 	 	Name:	Richard H. Prokosch
	 	 	Title:	Vice President

 

    

     

    

 

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 THE MIDDLEBY CORPORATION (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 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 FOR THE COMPANY 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.]

 

    A-2

     

    

 

The Middleby Corporation

 

1.00% Convertible Senior Note due 2025

 

	No. [__]	[Initially]1 $[_________]

 

CUSIP No. 596278 AA92

 

The Middleby Corporation, 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.]3 [_______]4, or registered assigns, the principal sum [as set forth in
the “Schedule of Exchanges of Notes” attached hereto]5 [of $[_______]]6, which amount, taken
together with the principal amounts of all other outstanding Notes, shall not, unless permitted by the Indenture, exceed $747,500,000
in aggregate at any time, in accordance with the rules and procedures of the Depositary, on September 1, 2025, and interest
thereon as set forth below.

 

This Note shall bear interest at the rate
of 1.00% per year from and including August 21, 2020, or from and including the most recent date to which interest has been
paid or provided for to, but excluding, the next scheduled Interest Payment Date until September 1, 2025. Accrued interest
on this Note 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. Interest is payable semi-annually in arrears on each March 1
and September 1, commencing on March 1, 2021, to Holders of record at the close of business on the preceding February 15
and August 15 (whether or not such day is a Business Day), respectively. Additional Interest will be payable as set forth
in Section 4.06(d), Section 4.06(e) and Section 6.03 of the within-mentioned Indenture, and any reference to
interest on, or in respect of, any Note therein shall be deemed to include Additional Interest if, in such context, Additional
Interest is, was or would be payable pursuant to any of such Section 4.06(d), Section 4.06(e) or Section 6.03,
and any express mention of the payment of Additional Interest in any provision therein shall not be construed as excluding Additional
Interest in those provisions thereof where such express mention is not made.

 

Any Defaulted Amounts shall accrue interest
per annum at the rate 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.

 

 

 

1
Include if a global note.

2
This Note will be deemed to be identified by CUSIP No. 596278 AB7 from and after such time when the Company delivers, pursuant
to Section 2.05(c) of the within-mentioned Indenture, written notice to the Trustee of the occurrence of the Resale Restriction
Termination Date and the removal of the restrictive legend affixed to this Note in accordance with the applicable procedures of
the Depositary.

3
Include if a global note.

4
Include if a physical note.

5 Include if a global note.

6 Include if a physical note.

 

    A-3

     

    

 

 

The Company shall pay the principal of and
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 Corporate Trust Office in the contiguous United States of America,
as a place where Notes may be presented for payment or for registration of transfer and exchange.

 

Reference is made to the further provisions
of this Note set forth on the reverse hereof, including, without limitation, provisions giving the Holder of this Note the right
to convert this Note into cash and shares of Common Stock (if any) 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 signed manually by the Trustee or a duly authorized
authenticating agent under the Indenture.

 

[Remainder of page intentionally
left blank]

 

    	 	A-4	 

     

    

 

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

 

	 	THE MIDDLEBY CORPORATION 
	 	 
	                                                                                                  	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	 

 

    	 	 	 

     

    

 

[FORM OF REVERSE OF NOTE]

 

The Middleby Corporation

1.00% Convertible Senior Note due 2025

 

This Note is one of a duly authorized issue
of Notes of the Company, designated as its 1.00% Convertible Senior Notes due 2025 (the “Notes”), initially
limited to the aggregate principal amount of $747,500,000 all issued or to be issued under and pursuant to an Indenture dated as
of August 21, 2020 (the “Indenture”), between the Company and U.S. Bank National Association, as trustee
(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, as defined
in the Indenture, shall have occurred and be continuing, the principal of, and interest on, all Notes may be declared, by either
the Trustee or Holders of at least 25% in aggregate principal amount of Notes then outstanding, and upon said declaration shall
become, due and payable, in the manner, with the effect and subject to the conditions and certain exceptions set forth in the Indenture.

 

Subject to the terms and conditions of the
Indenture, the Company will make all payments and deliveries in respect of the Fundamental Change Repurchase Price on the Fundamental
Change Repurchase Date 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 (and deliver, if applicable) the principal (including the Redemption Price, the Fundamental Change Repurchase Price, if
applicable) of, accrued and unpaid interest on, and the consideration due upon conversion of, this Note at the place, at the respective
times, at the rate and in the lawful money herein prescribed.

 

    	 	R-1	 

     

    

 

The Notes are issuable in registered form
without coupons in minimum denominations of $1,000 principal amount and integral multiples in excess 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 5, 2023 and prior to the 41st Scheduled Trading Day immediately preceding the Maturity Date,
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, during certain periods and upon the occurrence of certain conditions specified
in the Indenture, prior to the close of business on the second Scheduled Trading Day immediately preceding the Maturity Date, to
convert any Notes or portion thereof that is $1,000 or a multiple thereof, into cash and shares of Common Stock (if any), 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 A7

 

 

SCHEDULE OF EXCHANGES OF NOTES

 

The Middleby Corporation

1.00% Convertible Senior Notes due 2025

 

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
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 

 

 

7 Include if a global note.

 

    	 	R-4	 

     

    

 

ATTACHMENT 1

 

[FORM OF NOTICE OF CONVERSION]

 

To: The Middleby Corporation

 

To: U.S. Bank National Association

60 Livingston Ave.

Saint Paul, MN

55107

Attn: Rick Prokosch

 

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 and shares of Common Stock (if any), in accordance with the terms of the Indenture referred to in this
Note, and directs that 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 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: The Middleby Corporation

 

To: U.S. Bank National Association

60 Livingston Ave.

Saint Paul, MN

55107

Attn: Rick Prokosch

 

The undersigned registered owner of this
Note hereby acknowledges receipt of a notice from The Middleby Corporation (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 Regular Record
Date and on or prior to the corresponding Interest Payment Date, accrued and unpaid interest, if any, thereon to, but excluding,
such Fundamental Change 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]

 

To: U.S. Bank National Association

60 Livingston Ave.

Saint Paul, MN

55107

Attn: Rick Prokosch

 

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
The Middleby Corporation 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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