Document:

exv4w1

Exhibit 4.1

WYNDHAM WORLDWIDE CORPORATION

as Issuer

and

U.S. BANK NATIONAL ASSOCIATION,

as Trustee

 

THIRD SUPPLEMENTAL INDENTURE

Dated as of February 25, 2010

to

INDENTURE

Dated as of November 20, 2008

 

7.375% Notes due 2020

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page	 
	ARTICLE 1. DEFINITIONS
	 	 	1	 
	Section 1.1 Definition of Terms
	 	 	1	 
	 
	 	 	 	 
	ARTICLE 2. GENERAL TERMS AND CONDITIONS OF THE NOTES
	 	 	4	 
	Section 2.1 Designation and Principal Amount
	 	 	4	 
	Section 2.2 Maturity
	 	 	4	 
	Section 2.3 Further Issues
	 	 	4	 
	Section 2.4 Form of Payment
	 	 	5	 
	Section 2.5 Global Securities and Denomination of Notes
	 	 	5	 
	Section 2.6 Interest
	 	 	5	 
	Section 2.7 Redemption
	 	 	5	 
	Section 2.8 Limitations on Liens.
	 	 	5	 
	Section 2.9 Limitations on Sale and Leaseback Transactions
	 	 	5	 
	Section 2.10 Merger, Consolidation and Sale of Assets
	 	 	6	 
	Section 2.11 Additional Amounts.
	 	 	7	 
	Section 2.12 Events of Default.
	 	 	9	 
	Section 2.13 Appointment of Agents
	 	 	11	 
	Section 2.14 Defeasance upon Deposit of Moneys or U.S. Government Obligations
	 	 	11	 
	Section 2.15 SEC Reports.
	 	 	11	 
	Section 2.16 Purchase of Notes Upon a Change of Control.
	 	 	12	 
	 
	 	 	 	 
	ARTICLE 3. FORM OF NOTES
	 	 	13	 
	Section 3.1 Form of Notes
	 	 	13	 
	 
	 	 	 	 
	ARTICLE 4. ORIGINAL ISSUE OF NOTES
	 	 	13	 
	Section 4.1 Original Issue of Notes
	 	 	13	 
	 
	 	 	 	 
	ARTICLE 5. MISCELLANEOUS
	 	 	14	 
	Section 5.1 Ratification of Indenture
	 	 	14	 
	Section 5.2 Trustee Not Responsible for Recitals
	 	 	14	 
	Section 5.3 Governing Law
	 	 	14	 
	Section 5.4 Separability
	 	 	14	 
	Section 5.5 Counterparts Originals
	 	 	14	 
	 
	 	 	 	 
	EXHIBIT A — Form of Notes
	 	 	A-1	 

 

 

     THIRD SUPPLEMENTAL INDENTURE, dated as of February 25, 2010 (this “Supplemental
Indenture”), between Wyndham Worldwide Corporation, a corporation duly organized and existing
under the laws of the State of Delaware, having its principal office at 22 Sylvan Way, Parsippany,
NJ 07054 (the “Company”), and U.S. Bank National Association, a national banking
association, organized and in good standing under the laws of the United States, as trustee (the
“Trustee”).

     WHEREAS, the Company executed and delivered the indenture, dated as of November 20, 2008, to
the Trustee (the “Base Indenture,” and as hereby supplemented, the “Indenture”), to provide
for the issuance of the Company’s debt Securities to be issued in one or more series;

     WHEREAS, pursuant to the terms of the Base Indenture, the Company desires to provide for the
establishment of a new series of its notes under the Base Indenture to be known as its “7.375%
Notes due 2020” (the “Notes”), the form and substance and the terms, provisions and
conditions thereof to be set forth as provided in the Base Indenture and this Supplemental
Indenture;

     WHEREAS, the Board of Directors and the Pricing Committee thereof, pursuant to resolutions
duly adopted on November 20, 2008, February 18, 2010 and February 22, 2010, have duly authorized
the issuance of the Notes, and have authorized the proper officers of the Company to execute any
and all appropriate documents necessary or appropriate to effect each such issuance;

     WHEREAS, this Supplemental Indenture is being entered into pursuant to the provisions of
Section 14.01 of the Base Indenture;

     WHEREAS, the Company has requested that the Trustee execute and deliver this Supplemental
Indenture; and

     WHEREAS, all things necessary to make this Supplemental Indenture a valid agreement of the
Company, in accordance with its terms, and to make the Notes, when executed by the Company and
authenticated and delivered by the Trustee, the valid obligations of the Company, have been
performed, and the execution and delivery of this Supplemental Indenture has been duly authorized
in all respects;

     NOW THEREFORE, in consideration of the premises and the purchase and acceptance of the Notes
by the Holders thereof, and for the purpose of setting forth, as provided in the Base Indenture,
the forms and terms of the Notes, the Company covenants and agrees, with the Trustee, as follows:

ARTICLE 1.

DEFINITIONS

     Section 1.1 Definition of Terms. Unless the context otherwise requires:

     (a) each term defined in the Base Indenture has the same meaning when used in this
Supplemental Indenture;

 

 

     (b) the singular includes the plural and vice versa;

     (c) headings are for convenience of reference only and do not affect interpretation;

     (d) a reference to a Section or Article is to a Section or Article of this Supplemental
Indenture unless otherwise indicated; and

     (e) the following terms have the meanings given to them in this Section 1.1(e):

     (i) “Additional Amounts” shall have the meaning assigned to it in Section 2.11.

     (ii) “Attributable Debt” means, with regard to a sale and leaseback arrangement of a
Principal Property, an amount equal to the lesser of: (a) the fair market value of the
Principal Property (as determined in good faith by the Board of Directors); or (b) the
present value of the total net amount of rent payments to be made under the lease during its
remaining term (including any period for which such lease has been extended and excluding
any unexercised renewal or other extension options exercisable by the lessee, and excluding
amounts on account of maintenance and repairs, services, taxes and similar charges and
contingent rents), discounted at the rate of interest set forth or implicit in the terms of
the lease (or, if not practicable to determine such rate, the weighted average interest rate
per annum borne by the Notes then outstanding), compounded semi-annually.

     (iii) “Change in Domicile” shall have the meaning assigned to it in Section
2.11.

     (iv) “Change of Control” means the occurrence of any of the following: (i) the direct
or indirect sale, transfer, conveyance or other disposition (other than by way of merger or
consolidation), in one or a series of related transactions, of all or substantially all of
the properties or assets of the Company and its Subsidiaries taken as a whole to any
“person” (as that term is used in Section 13(d)(3) of the Exchange Act) other than the
Company or one of its Subsidiaries; (ii) the adoption of a plan relating to the liquidation
or dissolution of the Company; (iii) the consummation of any transaction (including, without
limitation, any merger or consolidation) the result of which is that any “person” (as
defined in this paragraph) becomes the beneficial owner, directly or indirectly, of 50% or
more of the total voting power of all shares of the Company’s capital stock entitled to vote
generally in elections of directors; or (iv) the first day on which a majority of the
members of the Board of Directors are not Continuing Directors.

     (v) “Change of Control Offer” shall have the meaning assigned to it in Section
2.16.

     (vi) “Change of Control Payment” shall have the meaning assigned to it in Section
2.16.

     (vii) “Change of Control Payment Date” shall have the meaning assigned to it in
Section 2.16.

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     (viii) “Consolidated Net Worth” means, as of any date of determination, all items which
in conformity with GAAP would be included under stockholders’ equity on a consolidated
balance sheet of the Company and its Subsidiaries at such date.

     (ix) “Continuing Directors” means, as of any date of determination, any member of the
Board of Directors who (i) was a member of such Board of Directors on the date of this
Supplemental Indenture; or (ii) was nominated for election or elected to such Board of
Directors with the approval of a majority of the Continuing Directors who were members of
such Board of Directors at the time of such nomination or election.

     (x) “DTC” means The Depository Trust Company.

     (xi) “EDGAR” means the SEC’s Electronic Data Gathering, Analysis, and Retrieval system
or any successor thereto.

     (xii) “Event of Default” shall have the meaning assigned to it in Section 2.12.

     (xiii) “Indebtedness” of any Person means, for purposes of this Supplemental Indenture
only, without duplication, (i) any obligation of such Person for money borrowed, (ii) any
obligation of such Person evidenced by bonds, debentures, notes or other similar instruments
and (iii) any reimbursement obligation of such Person in respect of letters of credit or
other similar instruments which support financial obligations which would otherwise become
Indebtedness.

     (xiv) “Lien” means any pledge, mortgage, lien, encumbrance or other security interest.

     (xv) “Permitted Liens” means: (a) Liens existing on the date the Notes are issued;
(b) Liens on any property or any Indebtedness of a Person existing at the time the Person
becomes a Subsidiary (whether by acquisition, merger or consolidation) which were not
incurred in anticipation thereof; (c) Liens in favor of the Company or its Subsidiaries; (d)
Liens existing at the time of acquisition of the assets encumbered thereby which were not
incurred in anticipation of such acquisition; (e) purchase money Liens which secure
Indebtedness that does not exceed the cost of the purchased property; (f) Liens on real
property acquired after the date on which the Notes are first issued which secure
Indebtedness incurred to acquire such real property or improve such real property so long as
(i) such Indebtedness is incurred on the date of acquisition of such real property or within
180 days of the acquisition of such real property; (ii) such Liens secure Indebtedness in an
amount no greater than the purchase price or improvement price, as the case may be, of such
real property so acquired; and (iii) such Liens do not extend to or cover any property of
ours or any Restricted Subsidiary other than the real property so acquired; and (g)
extensions, renewals or replacements of any Indebtedness secured by the foregoing types of
Permitted Liens, so long as the principal amount of Indebtedness secured thereby shall not
exceed the amount of Indebtedness existing at the time of such extension, renewal or
replacement.

3

 

     (xvi) “Principal Property” means an asset or assets owned by the Company or any
Restricted Subsidiary having a gross book value in excess of $50,000,000.

     (xvii) “Relevant Taxing Jurisdiction” shall have the meaning assigned to it in
Section 2.11.

     (xviii) “Restricted Subsidiary” means a Subsidiary of the Company (other than a
Securitization Entity) that (i) is owned, directly or indirectly, by the Company or by one
or more of the Subsidiaries of the Company, or by the Company and by one or more of the
Subsidiaries of the Company, (ii) is incorporated under the laws of the United States or a
state thereof and (iii) owns a Principal Property.

     (xix) “Securitization Entity” means any Subsidiary or other Person that is engaged
solely in the business of effecting asset securitization transactions and related
activities.

     (xx) “Significant Subsidiary” shall mean any Subsidiary of the Company (other than a
Securitization Entity) that is a “significant subsidiary” of the Company within the meaning
given to such term in Article 1, Rule 1-02 of Regulation S-X.

     (xxi) “Taxes” shall have the meaning assigned to it in Section 2.11.

ARTICLE 2.

GENERAL TERMS AND CONDITIONS OF THE NOTES

     Section 2.1 Designation and Principal Amount. There is hereby authorized and
established a new series of Securities under the Base Indenture designated as the “7.375% Notes due
2020,” which is not limited in aggregate principal amount. The initial aggregate principal amount
of the Notes to be issued under this Supplemental Indenture shall be $250,000,000. The Notes are
not Original Issue Discount Securities and are issued at a public offering price of 99.998%. Any
additional amounts of Notes to be issued shall be set forth in a Company Order.

     Section 2.2 Maturity. The stated maturity of principal for the Notes shall be March
1, 2020.

     Section 2.3 Further Issues. The Company may from time to time, without the consent of
the Holders of Notes, issue additional Notes, but only if such additional Notes are issued as part
of a “qualified reopening” for U.S. federal income tax purposes. Any such additional Notes

4

 

shall have the same ranking, interest rate, maturity date and other terms as the Notes. Any
such additional Notes, together with the Notes herein provided for, shall constitute a single
series of Securities under the Indenture.

     Section 2.4 Form of Payment. Principal of, premium, if any, and interest on the Notes
shall be payable in U.S. dollars.

     Section 2.5 Global Securities and Denomination of Notes. Upon the original issuance,
the Notes shall be represented by one or more Global Securities. The Company shall issue the Notes
in minimum denominations of $2,000 and in integral multiples of $1,000 in excess thereof and shall
deposit the Global Securities with the Trustee as custodian for DTC in New York, New York, and
register the Global Securities in the name of DTC or its nominee.

     Section 2.6 Interest. The Notes shall bear interest (computed on the basis of a
360-day year consisting of twelve 30-day months) from February 25, 2010 at the rate of 7.375% per
annum payable semiannually in arrears; interest payable on each Interest Payment Date shall include
interest accrued from February 25, 2010, or from the most recent Interest Payment Date to which
interest has been paid or duly provided for; the Interest Payment Dates on which such interest
shall be payable are March 1 and September 1, commencing on September 1, 2010; and the record date
for the interest payable on any Interest Payment Date is the close of business on February 15 or
August 15, as the case may be, next preceding the relevant Interest Payment Date.

     Section 2.7 Redemption. The Notes are subject to redemption at the option of the
Company as set forth in the form of Note attached hereto as Exhibit A.

     Section 2.8 Limitations on Liens.

     (a) The Company shall not, and shall not permit any of its Restricted Subsidiaries to,
directly or indirectly, incur, assume or guarantee any Indebtedness secured by a Lien on any of its
or any of its Subsidiaries’ capital stock, properties or assets, other than Permitted Liens, unless
it has made or shall make effective provision whereby the Notes shall be secured by such Lien
equally and ratably with (or prior to) the Indebtedness of the Company or any Restricted Subsidiary
secured by such Lien for so long as such Indebtedness is secured. Any such Lien created pursuant
to this Section 2.8 shall be automatically and unconditionally released and discharged upon
the release and discharge of the Lien to which it relates.

     (b) Notwithstanding paragraph (a) of this Section 2.8, the Company and its Restricted
Subsidiaries may, without securing the Notes, directly or indirectly, incur, assume or guarantee
Indebtedness that would otherwise be subject to paragraph (a) if the sum of (i) the aggregate of
all Indebtedness secured by such Liens and (ii) any Attributable Debt related to any permitted sale
and leaseback arrangement does not at any one time exceed the greater of (i) 25% of Consolidated
Net Worth calculated as of the date of the creation or incurrence of the Lien and (ii)
$300,000,000.

     Section 2.9 Limitations on Sale and Leaseback Transactions. The Company shall not,
and shall not permit any of its Restricted Subsidiaries to, enter into any arrangement with any
Person to lease a Principal Property (except for any arrangements that exist on the date the Notes

5

 

are issued or that exist at the time any Person that owns a Principal Property becomes a
Restricted Subsidiary) which has been or is to be sold by the Company or the Restricted Subsidiary
to such Person unless:

     (a) the sale and leaseback arrangement involves a lease for a term of not more than three
years;

     (b) the sale and leaseback arrangement is entered into between the Company and a Subsidiary of
the Company or between Subsidiaries of the Company;

     (c) the Company or the Restricted Subsidiary would be entitled to incur Indebtedness secured
by a Lien on the Principal Property at least equal in amount to the Attributable Debt associated
with such Principal Property without having to secure equally and ratably the Notes pursuant to
Section 2.8(a) hereof;

     (d) the proceeds of the sale and leaseback arrangement are at least equal to the fair market
value (as determined by the Board of Directors in good faith) of the Principal Property and the
Company applies within 180 days after the sale an amount equal to the greater of the net proceeds
of the sale or the Attributable Debt associated with the Principal Property to (i) the retirement
of long-term debt for borrowed money that is not subordinated to the Notes and that is not debt to
the Company or a Subsidiary of the Company, or (ii) the purchase or development of other comparable
property; or

     (e) the sale and leaseback arrangement is entered into within 180 days after the initial
acquisition of the Principal Property subject to the sale and leaseback arrangement.

     Section 2.10 Merger, Consolidation and Sale of Assets. Section 6.04(a) of the
Base Indenture shall be revised in its entirety to read:

     (a) The Company shall not consolidate with any other entity or accept a merger of any other
entity into the Company or permit the Company to be merged into any other entity, or sell other
than for cash or lease all or substantially all its assets to another entity, unless (i) either the
Company shall be the continuing entity, or the successor, transferee or lessee entity (if other
than the Company) shall expressly assume, by indenture supplemental hereto, executed and delivered
by such entity prior to or simultaneously with such consolidation, merger, sale or lease, the due
and punctual payment of the principal of and interest and premium, if any, on all the Notes,
according to their tenor, and the due and punctual performance and observance of all other
obligations to the Holders of Notes and the Trustee under this Indenture or under the Notes to be
performed or observed by the Company; (ii) immediately after such consolidation, merger, sale,
lease or purchase, no Event of Default shall have occurred and be continuing; and (iii) the
successor, transferee or lessee entity (if other than the Company) is a corporation or a limited
liability company organized and validly existing under the laws of the United States or any
jurisdiction thereof, Canada, Mexico, Switzerland or any other country that is a member country of
the European Union on the date hereof.

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     Section 2.11 Additional Amounts.

     (a) All payments made by the Company, including any successor thereto, on the Notes shall be
made without withholding or deduction for, or on account of, any present or future taxes, duties,
assessments or governmental charges of whatever nature (“Taxes”) unless the withholding or
deduction of such Taxes is then required by law.

     (b) If, pursuant to Section 2.10, as a result of or following a merger or
consolidation of the Company with, or a sale by the Company of all or substantially all of its
assets to, an entity that is organized under the laws of a jurisdiction outside of the United
States (a “Change in Domicile”), any deduction or withholding is at any time required for,
or on account of, any Taxes imposed or levied by or on behalf of:

     (i) any jurisdiction (other than the United States) from or through which the Company
makes (or, as a result of the Company’s connection with such jurisdiction, is deemed to
make) a payment or delivery on the Notes, or any political subdivision or governmental
authority thereof or therein having the power to tax; or

     (ii) any other jurisdiction (other than the United States) in which Company is
organized or otherwise considered to be a resident or doing business for tax purposes, or
any political subdivision or governmental authority thereof or therein having the power to
tax (each of clauses (i) and (ii), a “Relevant Taxing Jurisdiction”);

to be made in respect of any payment or delivery under the Notes, the Company shall pay (together
with such payment or delivery) such additional amounts (the “Additional Amounts”) as may be
necessary in order that the net amounts received in respect of such payment or delivery by each
beneficial owner of the Notes after such withholding or deduction (including any such deduction or
withholding from such Additional Amounts), shall equal the amount that would have been received in
respect of such payment or delivery in the absence of such withholding or deduction; provided,
however, that Additional Amounts shall be payable only to the extent necessary so that the net
amount received by the holder, after taking into account such withholding or deduction, equals the
amount that would have been received by the holder in the absence of a Change in Domicile;
provided, further, that no such Additional Amounts shall be payable with respect to:

     (1) any Taxes that would have been imposed absent a Change in Domicile;

     (2) any Taxes that would not have been so imposed but for the existence of any
present or former connection between the beneficial owner (or between a fiduciary,
settlor, beneficiary, member or shareholder of, or possessor of power over the
relevant beneficial owner, if the relevant beneficial owner is an estate, nominee,
trust or corporation) and the Relevant Taxing Jurisdiction (including the beneficial
owner being a citizen or resident or national of, or carrying on a business or
maintaining a permanent establishment in, or being physically present in, the
Relevant Taxing Jurisdiction) other than by the mere

7

 

ownership or holding of such Note or enforcement of rights thereunder or the
receipt of payments in respect thereof;

     (3) any Taxes that would not have been so imposed if the beneficial owner had
made a declaration of non-residence or any other claim or filing for exemption to
which it is entitled (provided that (x) such declaration of non-residence or other
claim or filing for exemption is required by the applicable law of the Relevant
Taxing Jurisdiction as a precondition to exemption from the requirement to deduct or
withhold such Taxes and (y) at least 30 days prior to the first payment date with
respect to which such declaration of non-residence or other claim or filing for
exemption is required under the applicable law of the Relevant Taxing Jurisdiction,
the relevant beneficial owner at that time has been notified by mail to the
addresses of such Holders of Notes as they appear in the Register by the Company or
any other person through whom payment may be made that a declaration of
non-residence or other claim or filing for exemption is required to be made);

     (4) any Note presented for payment (where presentation is required) more than
30 days after the relevant payment is first made available for payment to the
beneficial owner (except to the extent that the beneficial owner would have been
entitled to Additional Amounts had the Note been presented during such 30 day
period);

     (5) any Taxes that are payable otherwise than by withholding from a payment or
delivery on the Notes;

     (6) any estate, inheritance, gift, sale, transfer, personal property or similar
tax, assessment or other governmental charge;

     (7) any withholding or deduction imposed on a payment to an individual that is
required to be made pursuant to European Council Directive 2003/48/ EC on the
taxation of savings or any other directive implementing the conclusions of the
ECOFIN Council meeting of 26-27 November, 2000 or any law implementing or complying
with, or introduced in order to conform to, such directive;

     (8) any Taxes that could have been avoided by the presentation (where
presentation is required) of the relevant Note to another Paying Agent in a member
state of the European Union; and

     (9) where, had the beneficial owner of the Note been the holder of the Note, it
would not have been entitled to payment of Additional Amounts by reason of any of
clauses (1) to (8) inclusive of this Section 2.11(b).

     (c) The Company shall (i) make any required withholding or deduction and (ii) remit the full
amount deducted or withheld to the Relevant Taxing Jurisdiction in accordance with applicable law.
The Company shall use all reasonable efforts to obtain certified copies of tax receipts evidencing
the payment of any Taxes so deducted or withheld from each Relevant

8

 

Taxing Jurisdiction imposing such Taxes and shall provide such certified copies to each
holder. The Company shall attach to each certified copy a certificate stating (x) that the amount
of withholding Taxes evidenced by the certified copy was paid in connection with payments in
respect of the principal amount of Notes then outstanding and (y) the amount of such withholding
Taxes paid per $1,000 principal amount of the Notes. Copies of such documentation shall be
available for inspection during ordinary business hours at the office of the Trustee by the Holders
of Notes upon request and shall be made available at the offices of the Paying Agent.

     (d) At least 30 days prior to each date on which any payment under or with respect to the
Notes is due and payable (unless such obligation to pay Additional Amounts arises shortly before or
after the 30th day prior to such date, in which case it shall be promptly thereafter), if the
Company shall be obligated to pay Additional Amounts with respect to such payment, the Company
shall deliver to the Trustee an Officer’s Certificate stating the fact that such Additional Amounts
shall be payable, the amounts so payable and shall set forth such other information necessary to
enable the Trustee to pay such Additional Amounts to Holders of Notes on the payment date. Each
such Officer’s Certificate may be conclusively relied upon by the Trustee until receipt of a
further Officer’s Certificate addressing such matters.

     (e) References in this Indenture or the Notes to the payment of principal, purchase prices in
connection with a purchase of Notes, interest, or any other amount payable on or with respect to
the Notes shall be deemed to include payment of Additional Amounts pursuant to this Section 2.11 to
the extent that, in such context, Additional Amounts are, were or would be payable in respect
thereof.

     (f) The obligations provided for in this Section 2.11 shall survive any termination,
defeasance or discharge of the Indenture and shall apply mutatis mutandis to any jurisdiction in
which any successor to the Company is organized or any political subdivision or taxing authority or
agency thereof or therein.

     Section 2.12 Events of Default.

     (a) The term “Event of Default” as used in this Indenture with respect to the Notes only,
shall include the following described events in addition to those set forth in Section 7.01
of the Base Indenture:

     (i) any failure by the Company to comply with its obligations under Section
2.10 hereof or Section 6.04 of the Base Indenture;

     (ii) the entry by a court having jurisdiction in the premises of a decree or order for
relief in respect of a Significant Subsidiary in an involuntary case under the federal
bankruptcy laws, as now or hereafter constituted, or any other applicable federal or state
bankruptcy, insolvency or other similar law now or hereafter in effect, or appointing a
receiver, liquidator, assignee, custodian, trustee or sequestrator (or similar official) of
a Significant Subsidiary or of substantially all the property of a Significant Subsidiary or
ordering the winding-up or liquidation of its affairs and such decree or order shall remain
unstayed and in effect for a period of 90 consecutive days;

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     (iii) the commencement by a Significant Subsidiary of a voluntary case under the
federal bankruptcy laws, as now or hereafter constituted, or any other applicable federal or
state bankruptcy, insolvency or other similar law now or hereafter in effect, or the consent
by a Significant Subsidiary to the entry of an order for relief in an involuntary case under
any such law, or the consent by any Significant Subsidiary to the appointment of or taking
possession by a receiver, liquidator, assignee, trustee, custodian or sequestrator (or
similar official) of a Significant Subsidiary or of substantially all the property of a
Significant Subsidiary or the making by it of an assignment for the benefit of creditors or
the admission by it in writing of its inability to pay its debts generally as they become
due, or the taking of corporate action by a Significant Subsidiary in furtherance of any
action; and

     (iv) any final judgment or decree for the payment of money which, when taken together
with all other final judgments or decrees for the payment of money, causes the aggregate
amount of such judgments or decrees entered against the Company or any Significant
Subsidiary to exceed $50 million (net of any amounts with respect to which a reputable and
creditworthy insurance company has acknowledged liability), remains outstanding for a period
of 60 consecutive days after the later of (a) the date on which the right to appeal thereof
has expired if no such appeal has commenced, or (b) the date on which all rights to appeal
have been extinguished.

     (b) The “Event of Default” set forth in Section 7.01(a) of the Base Indenture with
respect to the Notes only shall be replaced with the following:

     (i) the failure of the Company to pay any installment of interest, including any
additional interest and any Additional Amounts, on any Note when and as the same shall
become payable, which failure shall have continued unremedied for a period of 30 days;”

     (c) The “Event of Default” set forth in Section 7.01(b) of the Base Indenture with
respect to the Notes only shall be replaced with the following:

     (i) the failure of the Company to pay the principal of any Note, including any
Additional Amount, when and as the same shall become payable, whether at Maturity, by call
for redemption (otherwise than pursuant to a sinking fund), upon required repurchase in
connection with a Fundamental Change, or upon acceleration as authorized by the Indenture;

     (d) The “Event of Default” set forth in Section 7.01(g) of the Base Indenture with
respect to the Notes only shall be replaced with the following:

     (i) Indebtedness of the Company or any of its Restricted Subsidiaries of at least
$50,000,000 in aggregate principal amount is accelerated which acceleration has not been
rescinded or annulled after 30 days notice thereof.

     (e) This Section 2.12 shall incorporate the provisions of Section 2.15(c).
The third and second from last paragraphs of Section 7.01 of the Base Indenture shall be
replaced by Section 2.15(c) with respect to the Notes only.

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     Section 2.13 Appointment of Agents. The Trustee shall initially be the Registrar and
Paying Agent for the Notes.

     Section 2.14 Defeasance upon Deposit of Moneys or U.S. Government Obligations. At the
Company’s option, either (a) the Company shall be deemed to have been Discharged from its
obligations with respect to the Notes on the first day after the applicable conditions set forth in
Section 12.03 of the Base Indenture have been satisfied or (b) the Company shall cease to
be under any obligation to comply with any term, provision or condition set forth in Section
6.04 or Section 10.02 of the Base Indenture and Sections 2.9, 2.10 and
2.11 of this Supplemental Indenture with respect to the Notes at any time after the
applicable conditions set forth in Section 12.03 of the Base Indenture have been satisfied.

     Section 2.15 SEC Reports.

     (a) Any documents, reports or other information that the Company is required to file with the
SEC pursuant to Section 13 or 15(d) of the Exchange Act shall be filed by the Company with the
Trustee within 15 days after the same are required to be filed with the SEC (after giving effect to
any grace period provided by Rule 12b-25 under the Exchange Act). The Company shall otherwise
comply with the requirements of Section 314(a) of the Trust Indenture Act. Documents, reports or
other information filed by the Company with the SEC via EDGAR shall be deemed to be filed with the
Trustee as of the time such documents, reports or other information are filed via EDGAR. The
Trustee does not have the duty to review such information, documents or reports, is not considered
to have notice of the content of such information, documents or reports or any defaults or Events
of Default discernable therefrom and does not have a duty to verify the accuracy of such
information, documents or reports.

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

     (c) Notwithstanding anything to the contrary in Section 2.12, to the extent that the
Company elects, pursuant to Section 2.15(e), the sole remedy available to the Holders of
Notes or to the Trustee on their behalf for an Event of Default relating to (i) the Company’s
failure to file with the Trustee pursuant to Section 314(a)(1) of the Trust Indenture Act any
documents or reports that the Company is required to file with the SEC pursuant to Section 13 or
15(d) of the Exchange Act, or (ii) the Company’s failure to comply with its obligations in
Section 2.15(a), shall, 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 60-day period beginning on, and including, the occurrence of such an Event of
Default during which such Event of Default is continuing; and

     (ii) 0.50% per annum of the principal amount of the Notes outstanding for each day
during the 120-day period beginning on, and including, the 61st day following,

11

 

and including, the occurrence of such an Event of Default during which such Event of
Default is continuing;

provided, however, that in no event shall such additional interest accrue at an annual rate in
excess of 0.50% during the six-month period beginning on, and including, the date which is six
months after the last date of original issuance of the Notes for any failure to timely file any
document or report that the Company is required to file with the SEC pursuant to Section 13 or
15(d) of the Exchange Act (after giving effect to all applicable grace periods thereunder and other
than reports on Form 8-K).

     (d) If the Company elects, additional interest shall be payable in the same manner and on the
same dates as the stated interest payable on the Notes. On the 181st day after such Event of
Default (if the Event of Default relating to the reporting obligations is not cured or waived prior
to such 181st day), the Notes shall be subject to acceleration as provided in Section 7.02
of the Base Indenture. This Section 2.15(d) shall not affect the rights of Holders of
Notes in the event of the occurrence of any Event of Default unrelated to this Section
2.15. In the event that the Company does not elect to pay the additional interest following an
Event of Default in accordance with this Section 2.15(d), the Notes shall be subject to
acceleration as provided in Section 7.02 of the Base Indenture.

     (e) In order to elect to pay additional interest as the sole remedy during the first 180 days
after the occurrence of an Event of Default relating to the Company’s failure to comply with the
reporting obligations, the Company must notify, in writing, all Holders of Notes and the Trustee
and Paying Agent of such election prior to the beginning of such 180-day period. Upon the
Company’s failure to timely give such notice, the Notes shall be immediately subject to
acceleration as provided in Section 7.02 of the Base Indenture.

     Section 2.16 Purchase of Notes Upon a Change of Control.

     (a) Upon the occurrence of a Change of Control, unless the Company has exercised its right to
redeem the Notes as provided in Article Four of the Base Indenture, each Holder shall have the
right to require the Company to repurchase all or any part (equal to $2,000 or an integral multiple
of $1,000 in excess thereof) of each Holder’s Notes pursuant to the offer described in this
Section 2.16 (the “Change of Control Offer”) on the terms set forth in the Base
Indenture at a purchase price equal to 101% of the aggregate principal amount thereof plus accrued
and unpaid interest, if any, to but not including the date of purchase (the “Change of Control
Payment”).

     (b) Within 30 days following any Change of Control, or, at the Company’s option, prior to the
date of consummation of any Change of Control, but after the public announcement of the Change of
Control, the Company shall mail a notice to each Holder, with a copy to the Trustee, describing the
transaction or transactions that constitute the Change of Control and offering to repurchase the
Notes on the date specified in the notice, which date shall be no earlier than 30 days and no later
than 60 days from the date such notice is mailed (the “Change of Control Payment Date”),
pursuant to the procedures required by the Base Indenture and described in such notice. The notice
shall, if mailed prior to the date of the consummation of the

12

 

Change of Control, state that the offer to purchase is conditioned on the Change of Control
occurring on or prior to the payment date specified in the notice.

     (c) The Company shall comply with the requirements of Rule 14e-1 under the Exchange Act and
any other securities laws and regulations thereunder to the extent those laws and regulations are
applicable in connection with the repurchase of the Notes as a result of a Change of Control. To
the extent that the provisions of any securities laws or regulations conflict with this Section
2.16, the Company shall comply with the applicable securities laws and regulations and shall
not be deemed to have breached its obligations under this Section 2.16 by virtue of such
conflicts.

     (d) On the Change of Control Payment Date, the Company shall, to the extent lawful, (i) accept
for payment all Notes or portions thereof properly tendered pursuant to the Change of Control
Offer, (ii) deposit with the Paying Agent an amount equal to the Change of Control Payment in
respect of all Notes or portions thereof properly tendered and (iii) deliver or cause to be
delivered to the Trustee the Notes properly accepted together with an Officer’s Certificate stating
the aggregate principal amount of Notes or portions thereof being purchased by the Company and the
amount to be paid by the Paying Agent. The Paying Agent shall promptly mail to each Holder of
Notes properly tendered the Change of Control Payment for such Notes, and the Trustee shall
promptly authenticate and mail (or cause to be transferred by book entry) to each Holder a new Note
equal in principal amount to any unpurchased portion of the Notes surrendered by such Holder, if
any; in denominations as set forth herein. The Company shall publicly announce the results of the
Change of Control Offer on or as soon as practicable after the Change of Control Payment Date.

     (e) The Company shall not be required to make a Change of Control Offer upon a Change of
Control if a another Person makes the Change of Control Offer in the manner, at the times and
otherwise in compliance with the requirements set forth in this Section 2.16 otherwise
applicable to a Change of Control Offer made by the Company and such other Person purchases all
Notes properly tendered and not withdrawn pursuant to such Change of Control Offer.

ARTICLE 3.

FORM OF NOTES

     Section 3.1 Form of Notes. The Notes and the Trustee’s Certificate of Authentication to
be endorsed thereon are to be substantially in the form set forth in Exhibit A hereto.

ARTICLE 4.

ORIGINAL ISSUE OF NOTES

     Section 4.1 Original Issue of Notes. The Notes may, upon execution of this Supplemental
Indenture, be executed by the Company and delivered to the Trustee for authentication, and the
Trustee shall, upon receipt of a Company Order, authenticate and deliver such Notes as in such
Company Order provided.

13

 

ARTICLE 5.

MISCELLANEOUS

     Section 5.1 Ratification of Indenture. The Base Indenture, as supplemented by this
Supplemental Indenture, is in all respects ratified and confirmed, and this Supplemental Indenture
shall be deemed part of the Base Indenture in the manner and to the extent herein and therein
provided; provided that the provisions of this Supplemental Indenture apply solely with respect to
the Notes.

     Section 5.2 Trustee Not Responsible for Recitals. The recitals herein contained are made by
the Company and not by the Trustee, and the Trustee assumes no responsibility for the correctness
thereof. The Trustee makes no representation as to the validity or sufficiency of this
Supplemental Indenture.

     Section 5.3 Governing Law. This Supplemental Indenture and each Note shall be deemed to be
contracts made under the law of the State of New York, and for all purposes shall be governed by
and construed in accordance with the law of said State.

     Section 5.4 Separability. In case any provision in this Supplemental Indenture or in the
Notes shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the
remaining provisions shall not in any way be affected or impaired thereby.

     Section 5.5 Counterparts Originals. This Supplemental Indenture may be executed in any number
of counterparts, each of which so executed shall be deemed to be an original, but all such
counterparts shall together constitute but one and the same instrument.

14

 

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

	 	 	 	 	 
	 	WYNDHAM WORLDWIDE CORPORATION

 	 
	 	By:  	/s/ Stephen
P. Holmes	 
	 	 	Name:  	Stephen P. Holmes 	 
	 	 	Title:  	Chairman of the Board of Directors and

Chief Executive Officer 	 
	 
	 	U.S. BANK NATIONAL ASSOCIATION,

as Trustee

 	 
	 	By:  	/s/ William
G. Keenan	 
	 	 	Name:  	William G. Keenan 	 
	 	 	Title:  	Vice President 	 
	 

Signature Page to Third Supplemental Indenture

 

 

Exhibit A

 

[FACE OF NOTE]

          THIS NOTE IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND
IS REGISTERED IN THE NAME OF THE DEPOSITARY OR A NOMINEE OF THE DEPOSITARY, WHICH MAY BE TREATED BY
THE COMPANY, THE TRUSTEE AND ANY AGENT THEREOF AS OWNER AND HOLDER OF THIS NOTE FOR ALL PURPOSES.

          UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY (55 WATER STREET, NEW YORK, NEW YORK) (“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
HEREON 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 SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

          TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, 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.

 

 

CUSIP No. 98310WAE8

WYNDHAM WORLDWIDE CORPORATION

7.375% NOTES DUE 2020

	 	 	 
	No. R-1
	 	$250,000,000
	 
	 	As revised by the
	 
	 	Schedule of
	 
	 	Increases or
	 
	 	Decreases in
	 
	 	Global Security
	 
	 	attached hereto

          Interest. Wyndham Worldwide Corporation, a corporation duly organized and existing under the
laws of the State of Delaware (herein called the “Company,” which term includes any successor
Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to
Cede & Co. or registered assigns, the principal sum of two hundred and fifty million dollars
($250,000,000), as revised by the Schedule of Increases or Decreases in Global Security attached
hereto, on March 1, 2020 and to pay interest thereon from February 25, 2010 or from the most recent
Interest Payment Date to which interest has been paid or duly provided for, semi-annually in
arrears on March 1 and September 1 in each year, commencing September 1, 2010 at the rate of 7.375%
per annum, until the principal hereof is paid or made available for payment.

          Method of Payment. The interest so payable, and punctually paid or duly provided for, on any
Interest Payment Date shall, as provided in such Indenture, be paid to the Person in whose name
this Note (or one or more Predecessor Securities) is registered at the close of business on the
Record Date for such interest, which shall be February 15 or August 15, as the case may be, next
preceding such Interest Payment Date. Any such interest not so punctually paid or duly provided
for shall forthwith cease to be payable to the Holder on such Regular Record Date and may either be
paid to the Person in whose name this Note (or one or more Predecessor Securities) is registered at
the close of business on a Special Record Date for the payment of such Defaulted Interest to be
fixed by the Trustee, notice thereof having been given to Holders of Notes not less than 10 days
prior to such Special Record Date, all as more fully provided in said Indenture. Payment of the
principal of (and premium, if any) and any such interest on this Note shall be made at the
Corporate Trust Office in U.S. Dollars.

          Reference is hereby made to the further provisions of this Note set forth on the reverse
hereof, which further provisions shall for all purposes have the same effect as if set forth at
this place.

          Authentication. Unless the certificate of authentication hereon has been executed by the
Trustee referred to on the reverse hereof by manual signature, this Note shall not be entitled to
any benefit under the Indenture or be valid or obligatory for any purpose.

 

 

          IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed under its
corporate seal.

Dated: February 25, 2010

	 	 	 	 	 
	 	WYNDHAM WORLDWIDE CORPORATION

 	 
	 	By:  	 	 
	 	 	Name:  	Stephen P. Holmes 	 
	 	 	Title:  	Chairman of the Board of Directors and 

Chief Executive Officer 	 
	 

TRUSTEE’S CERTIFICATE OF AUTHENTICATION

Dated: February 25, 2010

U.S. BANK NATIONAL ASSOCIATION

as Trustee, certifies

that this is one of the

Securities of the series

referred to in the Indenture.

	 	 	 	 	 
	By:  	 	 
	 	Authorized Signatory 	 
	 	 	 	 

 

 

	 	 	 	 	 

[REVERSE OF NOTE]

          Indenture. This Note is one of a duly authorized issue of securities of the Company (herein
called the “Notes”) issued and to be issued under an Indenture, dated as of November 20, 2008 (the
“Base Indenture”), as supplemented by a Third Supplemental Indenture dated February 25, 2010 (as so
supplemented, herein called the “Indenture”), between the Company and U.S. Bank National
Association, as Trustee (herein called the “Trustee,” which term includes any successor trustee
under the Indenture), to which Indenture and all indentures supplemental thereto reference is
hereby made for a statement of the respective rights, limitations of rights, duties and immunities
thereunder of the Company, the Trustee and the Holders of the Notes and of the terms upon which the
Notes are, and are to be, authenticated and delivered. This Note is one of the series designated
on the face hereof, initially limited in aggregate principal amount to $250,000,000.

          Optional Redemption. The Notes are subject to redemption at the Company’s option, at any time
and from time to time, in whole or in part, at a redemption price equal to the greater of (i) 100%
of the principal amount to be redeemed plus accrued and unpaid interest thereon to, but excluding,
the Redemption Date, and (ii) the sum, as determined by an Independent Investment Banker, of the
present values of the remaining scheduled payments of principal and interest on the Securities to
be redeemed (exclusive of interest accrued to the Redemption Date) discounted to the Redemption
Date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the
applicable Treasury Rate plus 50 basis points plus accrued and unpaid interest on the principal
amount being redeemed to the Redemption Date (exclusive of interest accrued to the Redemption
Date).

          For purposes of determining the optional redemption price, the following definitions are
applicable:

          “Treasury Rate” means, with respect to any Redemption Date, (i) the yield, under the heading
which represents the average for the immediately preceding week, appearing in the most recently
published statistical release designated “H.15(519)” or any successor publication which is
published weekly by the Board of Governors of the Federal Reserve System and which establishes
yields on actively traded United States Treasury securities adjusted to constant maturity under the
caption “Treasury Constant Maturities,” for the maturity corresponding to the Comparable Treasury
Issue (if no maturity is within three months before or after the Remaining Life, yields for the two
published maturities most closely corresponding to the Comparable Treasury Issue shall be
determined and the Treasury Rate shall be interpolated or extrapolated from such yields on a
straight line basis, rounding to the nearest month), (ii) if the period from the Redemption Date to
the maturity date of the Securities to be redeemed is less than one year, the weekly average yield
on actually traded United States Treasury securities adjusted to a constant maturity of one year
shall be used, or (iii) if such release (or any successor release) is not published during the week
preceding the calculation date or does not contain such yields, the rate per annum equal to the
semiannual equivalent yield to

 

 

maturity of the Comparable Treasury Issue, calculated using a price for the Comparable
Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury
Price for such Redemption Date.

          The Treasury Rate shall be calculated on the third Business Day preceding the Redemption Date.

          “Comparable Treasury Issue” means the U.S. Treasury security selected by an Independent
Investment Banker as having a maturity comparable to the remaining term (“Remaining Life”) of the
Securities to be redeemed that would be utilized, at the time of selection and in accordance with
customary financial practice, in pricing new issues of corporate debt securities of comparable
maturity to the remaining terms of the Securities.

          “Comparable Treasury Price” means, with respect to any Redemption Date:

          (a) the average of the Reference Treasury Dealer Quotations for such Redemption Date, after
excluding the highest and lowest Reference Treasury Dealer Quotations, or

          (b) if the Independent Investment Banker is unable to obtain at least four such Reference
Treasury Dealer Quotations, the average of all Reference Treasury Dealer Quotations obtained by the
Independent Investment Banker or, if the Independent Investment Banker is able to obtain only one
Reference Treasury Dealer Quotation, such Reference Treasure Dealer Quotation.

          “Independent Investment Banker” means an independent investment banking institution of
national standing appointed by the Company, which may be one of the Reference Treasury Dealers.

          “Reference Treasury Dealer” means any primary U.S. government securities dealer in New York
City (a “Primary Treasuries Dealer”) that the Company selects. The Company has selected J.P. Morgan
Securities Inc., Banc of America Securities LLC, Credit Suisse Securities (USA) LLC, Deutsche Bank
Securities Inc. and their respective successors as Primary Treasury Dealers.

          “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer
and any Redemption Date for the Securities, an average, as determined by the Independent Investment
Banker, of the bid and asked prices for the Comparable Treasury Issue for the Securities (expressed
in each case as a percentage of its principal amount) quoted in writing to the Independent
Investment Banker by the Reference Treasury Dealer at 5:00 p.m., New York City time, on the third
Business Day preceding such Redemption Date.

 

 

          Notice of any redemption shall be mailed at least 30 days but not more than 60 days before the
Redemption Date to each registered Holder of the Securities to be redeemed. If money sufficient to
pay the redemption price of all of the Securities (or portions thereof) to be redeemed on the
Redemption Date is deposited with the Trustee or Paying Agent on or before the Redemption Date, and
unless the Company defaults in payment of the redemption price, on and after the Redemption Date,
interest shall cease to accrue on the Securities or portions of the Securities called for
redemption. If fewer than all of the Securities are to be redeemed, and such Securities are at the
time represented by a Global Security, the Depositary shall select by lot the particular interests
to be redeemed. If the Company elects to redeem fewer than all of the Securities, and any of such
Securities are not represented by a Global Security, then the Trustee shall select the particular
Securities to be redeemed in a manner it deems appropriate and fair (and the Depositary shall
select by lot the particular interests in any Global Security to be redeemed).

          The Company may at any time, and from time to time, purchase the Securities at any price or
prices in the open market or otherwise.

          Defaults and Remedies. If an Event of Default with respect to Notes shall occur and be
continuing, the principal of the Notes may be declared due and payable in the manner and with the
effect provided in the Indenture.

          Amendment, Modification and Waiver. The Indenture permits, with certain exceptions as therein
provided, the amendment thereof and the modification of the rights and obligations of the Company
and the rights of the Holders of the Notes at any time by the Company and the Trustee with the
consent of the Holders of a majority in aggregate principal amount of the Notes at the time
Outstanding. The Indenture also contains provisions permitting the Holders of a majority in
aggregate principal amount of the Notes at the time Outstanding, on behalf of the Holders of all
Notes, to waive compliance by the Company with certain provisions of the Indenture and certain past
defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of
this Note shall be conclusive and binding upon such Holder and upon all future Holders of this Note
and of any Note issued upon the registration of transfer hereof or in exchange herefor or in lieu
hereof, whether or not notation of such consent or waiver is made upon this Note.

          Restrictive Covenants. The Indenture does not limit the incurrence of additional debt by the
Company or any of its Subsidiaries; however, it does limit the creation of certain Liens and the
entry into sale and leaseback transactions by the Company or any of its Restricted Subsidiaries.
The limitations are subject to a number of important qualifications and exceptions. Once a year,
the Company must report to the Trustee on its compliance with these limitations.

          Denominations, Transfer and Exchange. The Notes are issuable only in registered form without
coupons in minimum denominations of $2,000 and in integral multiples of $1,000 in excess thereof.
As provided in the Indenture and subject to certain limitations therein set forth, Notes are
exchangeable for a like aggregate principal amount

 

 

of Notes of any different authorized denomination or denominations, as requested by the Holder
surrendering the same.

          As provided in the Indenture and subject to certain limitations therein set forth, including
Section 3.06 of the Base Indenture, the transfer of this Note is registerable in the
Register, upon surrender of this Note for registration of transfer at the Registrar accompanied by
a written request for transfer in form satisfactory to the Company and the Registrar duly executed
by the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new
Notes of any different authorized denomination or denominations and for the same aggregate
principal amount, shall be issued to the designated transferee or transferees.

          No service charge shall be made for any such registration of transfer or exchange, but the
Company or the Trustee may require payment of a sum sufficient to cover any tax or other
governmental charge payable in connection therewith.

          Persons Deemed Owners. Prior to due presentment of this Note for registration of transfer,
the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose
name this Note is registered as the owner hereof for the purpose of receiving payment of principal
of and premium, if any, and (subject to Section 3.08 of the Base Indenture) interest, if any, on
such Note and for all other purposes whatsoever, whether or not this Note be overdue, and neither
the Company, the Trustee nor any agent shall of the Company or the Trustee shall be affected by
notice to the contrary.

          Defined Terms. All terms used in this Note and not defined herein shall have the meanings
assigned to them in the Indenture.

 

 

SCHEDULE OF INCREASES OR DECREASES IN GLOBAL SECURITY

          The following increases or decreases in this Global Security have been made:

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	Principal Amount of	 	 	 	 
	 	 	 	 	Amount of increase	 	 	Amount of decrease	 	 	this Global	 	 	Signature of	 
	 	 	 	 	in Principal Amount	 	 	in Principal Amount	 	 	Security following	 	 	authorized	 
	Date of	 	 	of this Global	 	 	of this Global	 	 	each decrease or	 	 	signatory of	 
	Exchange	 	 	Security	 	 	Security	 	 	increase	 	 	TrusteeExhibit 4.1

Exhibit 4.1

Form of Warrant to Purchase Common Stock

AMICUS THERAPEUTICS, INC.

WARRANT TO PURCHASE COMMON STOCK

To Purchase __________________ Shares of Common Stock

Warrant No.: ____________

Date of Issuance: March __, 2010

VOID AFTER March __, 2014

THIS CERTIFIES THAT, for value received,                                         , or permitted registered assigns
(the “Holder”), is entitled, subject to the terms set forth below, to subscribe for and purchase at
the Exercise Price (defined below) from Amicus Therapeutics, Inc., a Delaware corporation (the
“Company”), up to                      shares of Common Stock, par value $.01 per share (the “Common Stock”),
of the Company. This warrant is one of a series of warrants issued by the Company as of the date
hereof (individually a “Warrant”; collectively, “Company Warrants”) pursuant to those certain
subscription agreements between the Company and each of the investors, each dated as of February
25, 2010 (each, a “Subscription Agreement”) and pursuant to a registration statement under the
Securities Act on Form S-3 (File No. 333-158405) (the “registration statement”), filed with the
United States Securities and Exchange Commission (the “Commission”) and declared effective on May
27, 2009.

1. DEFINITIONS. Capitalized terms used herein but not otherwise defined herein shall
have their respective meanings as set forth in the Subscription Agreement. As used herein, the
following terms shall have the following respective meanings:

(A) “Eligible Market” means any of the New York Stock Exchange, the American Stock
Exchange, The NASDAQ Global Market, The NASDAQ Global Select Market or The NASDAQ Capital
Market.

(B) “Exercise Period” shall mean the period commencing six (6) months after the date
hereof and ending four (4) years from the date hereof, unless sooner terminated as provided
below.

(C) “Exercise Price” shall mean $                     per share, subject to adjustment pursuant to
Section 4 below.

 

 

 

(D) “Trading Day” shall mean (a) any day on which the Common Stock is listed or quoted
and traded on its primary Trading Market, (b) if the Common Stock
is not then listed or quoted and traded on any Eligible Market, then a day on which
trading occurs on the OTC Bulletin Board (or any successor thereto), or (c) if trading does
not occur on the OTC Bulletin Board (or any successor thereto), any business day.

(E) “Trading Market” shall mean the OTC Bulletin Board or any other Eligible Market, or
any national securities exchange, market or trading or quotation facility on which the Common
Stock is then listed or quoted.

(F) “Warrant Shares” shall mean the shares of the Common Stock issuable upon exercise of
this Warrant.

2. EXERCISE OF WARRANT. The rights represented by this Warrant may be exercised in
whole or in part at any time during the Exercise Period, by delivery of the following to the
Company at its address set forth on the signature page hereto (or at such other address as it may
designate by notice in writing to the Holder):

(A) an executed written notice, in the form attached hereto as Exhibit A (the
“Exercise Notice”); and

(B) payment of the Exercise Price either (i) in cash or by check or (ii) provided that
the conditions set forth in Section 2.1 are satisfied, pursuant to Section
2.1 below.

The Holder shall not be required to deliver the original Warrant in order to effect an
exercise hereunder. Execution and delivery of the Notice of Exercise shall have the same effect as
cancellation of the original Warrant and issuance of a new Warrant evidencing the right to purchase
the remaining number of Warrant Shares, if any.

Certificates for shares purchased hereunder shall be transmitted by the transfer agent of the
Company to the Holder by crediting the account of the Holder’s prime broker with the Depository
Trust Company (“DTC”) through its Deposit Withdrawal Agent Commission system if the Company’s
transfer agent is a participant in such system, and otherwise by physical delivery to the address
specified by the Holder in the Exercise Notice, in each case within three (3) business days from
the delivery to the Company of the Exercise Notice and payment of the aggregate Exercise Price as
set forth above. This Warrant shall be deemed to have been exercised on the date the Exercise Price
is received by the Company.

The person in whose name any certificate or certificates for Warrant Shares are to be issued
upon exercise of this Warrant shall be deemed to have become the holder of record of such shares on
the date on which payment of the Exercise Price was made, irrespective of the date such Warrant
Shares are credited to the DTC account of the Holder’s prime broker or the date of delivery of the
certificate or certificates evidencing such Warrant Shares, as the case may be, except that, if the
date of such payment is a date when the
stock transfer books of the Company are closed, such person shall be deemed to have become the
holder of such shares at the opening of business on the next succeeding date on which the stock
transfer books are open.

 

-2-

 

Subject to Section 2.6 and the final sentence of this paragraph and to the extent permitted by
law, the Company’s obligations to issue and deliver Warrant Shares in accordance with the terms
hereof are absolute and unconditional, irrespective of any action or inaction by the Holder to
enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any
judgment against any person or entity or any action to enforce the same, or any setoff,
counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Holder
or any other person or entity of any obligation to the Company or any violation or alleged
violation of law by the Holder or any other person or entity, and irrespective of any other
circumstance which might otherwise limit such obligation of the Company to the Holder in connection
with the issuance of Warrant Shares. The Holder shall have the right to pursue any remedies
available to it hereunder, at law or in equity including, without limitation, a decree of specific
performance and/or injunctive relief with respect to the Company’s failure to timely deliver
Warrant Shares upon exercise of this Warrant as required pursuant to the terms hereof.

2.1. NET EXERCISE. If during the Exercise Period (a) a registration statement
covering the Warrant Shares that are the subject of the Exercise Notice (the “Unavailable
Warrant Shares”), or an exemption from registration, is not available for the issuance and
resale of such Unavailable Warrant Shares, the Holder may, in its sole discretion or (b) the
Fair Market Value (as defined below) of one share of the Common Stock is greater than the
Exercise Price (at the date of calculation as set forth below), in lieu of exercising this
Warrant by payment of cash or by check, the Holder may effect a “net exercise” of this Warrant
in lieu of making the cash payment otherwise contemplated to be made to the Company upon such
exercise in payment of the Exercise Price, in which event, if so effected, the Holder shall
receive Warrant Shares equal to the value (as determined below) of this Warrant (or the
portion thereof being canceled) by delivery of the properly endorsed Notice of Exercise at the
principal office of the Company, in which event the Company shall issue to the Holder a number
of shares of the Common Stock computed using the following formula (a “Net Exercise”):

	 	 	 	 	 	 	 
	 

	 	X =
	 	Y(A-B)
 

A
	 	 

	 	 	 	 	 	 	 
	Where

	 	X
	 	=
	 	the number of Warrant Shares to be issued to the Holder.
	 
	 	 	 	 	 	 
	 

	 	Y
	 	=
	 	the number of Warrant Shares with respect to which this
Warrant is being exercised (which shall include both the
number of Warrant Shares issued to the Holder and the number
of Warrant Shares subject to the portion of the Warrant
being cancelled in payment of the Exercise Price).

 

-3-

 

	 	 	 	 	 	 	 
	 

	 	A
	 	=
	 	the Fair Market Value (as defined below) of one share of the
Common Stock (at the date of such calculation).
	 
	 	 	 	 	 	 
	 

	 	B
	 	=
	 	Exercise Price (as adjusted to the date of such calculation).

For purposes of this Warrant, the “Fair Market Value” of one share of the Common Stock shall
mean (i) the average of the closing sales prices for the shares of the Common Stock on The
NASDAQ Global Market or other Eligible Market where the Common Stock is listed or traded as
reported by Bloomberg Financial Markets (or a comparable reporting service of national
reputation selected by the Company and reasonably acceptable to the Holder if Bloomberg
Financial Markets is not then reporting sales prices of such security) (collectively,
“Bloomberg”) for the ten (10) consecutive trading days immediately prior to the date of the
exercise of the Warrant, or (ii) if an Eligible Market is not the principal Trading Market
for the shares of the Common Stock, the average of the reported sales prices reported by
Bloomberg on the principal Trading Market for the Common Stock during the same period, or, if
there is no sales price for such period, the last sales price reported by Bloomberg for such
period, or (iii) if neither of the foregoing applies, the last sales price of such security
in the over-the-counter market on the pink sheets for such security as reported by Bloomberg,
or if no sales price is so reported for such security, the last bid price of such security as
reported by Bloomberg, or (iv) if fair market value cannot be calculated as of such date on
any of the foregoing bases, the fair market value shall be as determined by the Board of
Directors of the Company in the exercise of its good faith judgment.

2.2. ISSUANCE OF NEW WARRANTS. Upon any partial exercise of this Warrant, the
Company, at its expense, will forthwith and, in any event within five (5) business days, issue
and deliver to the Holder a new warrant or warrants of like tenor, registered in the name of
the Holder, exercisable, in the aggregate, for the balance of the number of shares of the
Common Stock remaining available for purchase under this Warrant.

2.3. PAYMENT OF TAXES AND EXPENSES. The Company shall pay any recording, filing,
stamp or similar tax which may be payable in respect of any transfer involved in the issuance
of, and the preparation and delivery of certificates (if applicable) representing, (i) any
Warrant Shares purchased upon exercise of this Warrant and/or (ii) new or replacement warrants
in the Holder’s name or the name of any transferee of all or any portion of this Warrant;
provided, however, that the Company shall not be required to pay any tax which may be payable
in respect of
any transfer involved in the issuance, delivery or registration of any certificates for
Warrant Shares or Warrants in a name other than that of the Holder. The Holder shall be
responsible for all other tax liability that may arise as a result of holding or transferring
this Warrant or receiving Warrant Shares upon exercise hereof.

 

-4-

 

2.4. RULE 144. For purposes of Rule 144 promulgated under the Securities Act, as
in effect on the date hereof, it is intended that the Warrant Shares issued in a Net Exercise
shall be deemed to have been acquired by the Holder, and the holding period for the Warrant
Shares shall be deemed to have commenced, on the date this Warrant was originally issued
pursuant to the applicable Subscription Agreement.

2.5. DISPUTES. In the case of a dispute as to the determination of the Exercise
Price or the arithmetic calculation of the Warrant Shares, the Company shall promptly issue
to the Holder the number of Warrant Shares that are not disputed.

2.6. EXERCISE LIMITATIONS; HOLDER’S RESTRICTIONS. A Holder, other than an
Excluded Holder, shall not have the right to exercise any portion of this Warrant, pursuant to
Section 2 or otherwise, to the extent that after giving effect to such issuance after
exercise, such Holder (together with such Holder’s affiliates), as set forth on the applicable
Notice of Exercise, would beneficially own in excess of 9.9% of the number of shares of the
Common Stock outstanding immediately after giving effect to such issuance. For purposes of
this Section 2.6, the number of shares of the Common Stock beneficially owned by such
Holder and its affiliates shall include the number of shares of the Common Stock issuable upon
exercise of this Warrant with respect to which the determination of such sentence is being
made, but shall exclude the number of shares of the Common Stock which would be issuable upon
(A) exercise of the remaining, nonexercised portion of this Warrant beneficially owned by such
Holder or any of its affiliates and (B) exercise or conversion of the unexercised or
nonconverted portion of any other securities of the Company (including, without limitation,
any other shares of the Common Stock or Warrants) subject to a limitation on conversion or
exercise analogous to the limitation contained herein beneficially owned by such Holder or any
of its affiliates. Except as set forth in the preceding sentence, for purposes of this
Section 2.6, beneficial ownership shall be calculated in accordance with Section 13(d)
of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), it being acknowledged
by a Holder that the Company is not representing to such Holder that such calculation is in
compliance with Section 13(d) of the Exchange Act and such Holder is solely responsible for
any schedules required to be filed in accordance therewith. To the extent that the limitation
contained in this Section 2.6 applies, the determination of whether this Warrant is
exercisable (in relation to other securities owned by such Holder) and of which a portion of
this Warrant is exercisable shall be in the sole discretion of a Holder, and the submission of
a Notice of Exercise shall be deemed to be each Holder’s determination of whether this Warrant
is exercisable (in relation to other securities owned by such Holder) and of which portion of
this Warrant is exercisable, in each case subject to such aggregate

 

-5-

 

percentage limitation, and
the Company shall have no obligation to verify or confirm the accuracy of such determination. For purposes of this Section 2.6, in determining the number of
outstanding shares of the Common Stock, a Holder may rely on the number of outstanding shares
of the Common Stock as reflected in (x) the Company’s most recent Form 10-Q or Form 10-K, as
the case may be, (y) a more recent public announcement by the Company or (z) any other notice
by the Company or the Company’s transfer agent setting forth the number of shares of the
Common Stock outstanding. Upon the written or oral request of a Holder, the Company shall
within two Trading Days confirm orally and in writing to such Holder the number of shares of
the Common Stock then outstanding. In any case, the number of outstanding shares of the Common
Stock shall be determined after giving effect to the conversion or exercise of securities of
the Company, including this Warrant, by such Holder or its affiliates since the date as of
which such number of outstanding shares of the Common Stock was reported. The provisions of
this Section 2.6 may be waived by such Holder, at the election of such Holder, upon
not less than 61 days’ prior notice to the Company, and the provisions of this Section
2.6 shall continue to apply until such 61st day (or such later date, as
determined by such Holder, as may be specified in such notice of waiver). For purposes of this
Section 2.6, an “Excluded Holder” shall mean a Holder (together with such Holder’s
affiliates) that beneficially owned in excess of 9.9% of the number of shares of the Common
Stock outstanding on the date this Warrant was issued to such Holder; provided, however, that
if thereafter such Holder (together with such Holder’s affiliates) shall beneficially own 9.9%
or a percentage less than 9.9% of the number of shares of the Common Stock outstanding, then
such Holder shall cease to be an “Excluded Holder” hereunder.

3. COVENANTS OF THE COMPANY.

3.1. COVENANTS AS TO WARRANT SHARES. The Company covenants and agrees that all
Warrant Shares that may be issued upon the exercise of the rights represented by this Warrant
will, upon issuance, be validly issued and outstanding, fully paid and nonassessable, and
free from all taxes, liens and charges with respect to the issuance thereof. The Company
further covenants and agrees that the Company will at all times during the Exercise Period
have authorized and reserved, free from preemptive rights, a sufficient number of shares of
the Common Stock to provide for the exercise of the rights represented by this Warrant. If at
any time during the Exercise Period the number of authorized but unissued shares of the
Common Stock shall not be sufficient to permit exercise of this Warrant, the Company will use
its commercially reasonable efforts to take such corporate action in compliance with
applicable law as may, in the opinion of its counsel, be necessary to increase its authorized
but unissued shares of the Common Stock to such number of shares as shall be sufficient for
such purposes. The Company further covenants and agrees to use its commercially reasonable
efforts to keep the Warrant Shares authorized for listing on at least one Eligible Market and
to maintain an effective registration statement with the SEC with respect to the offer or
sale of the Warrant Shares.

 

-6-

 

3.2. NOTICES OF RECORD DATE AND CERTAIN OTHER EVENTS. In the event of any taking
by the Company of a record of the holders of any class of securities for the purpose of
determining the holders thereof who are entitled to receive any dividend or other
distribution, the Company shall mail to the Holder, at least fifteen (15) days prior to the
date on which any such record is to be taken for the purpose of such dividend or
distribution, a notice specifying such date. In the event of any voluntary dissolution,
liquidation or winding up of the Company, the Company shall mail to the Holder, at least
fifteen (15) days prior to the date of the occurrence of any such event, a notice specifying
such date. In the event the Company authorizes or approves, enters into any agreement
contemplating, or solicits stockholder approval for any Fundamental Transaction, as defined
in Section 6 herein, the Company shall mail to the Holder, at least fifteen (15) days
prior to the date of the occurrence of such event, a notice specifying such date.
Notwithstanding the foregoing, the failure to deliver such notice or any defect therein shall
not affect the validity of the corporate action required to be described in such notice.

4. ADJUSTMENT OF EXERCISE PRICE AND SHARES. The Exercise Price and number of Warrant
Shares issuable upon exercise of this Warrant are subject to adjustment from time to time as set
forth in this Section 4.

(A) If the Company, at any time while this Warrant is outstanding, (i) pays a stock
dividend on the Common Stock or otherwise makes a distribution on any class of capital stock
that is payable in shares of the Common Stock, (ii) subdivides outstanding shares of the
Common Stock into a larger number of shares, or (iii) combines outstanding shares of the
Common Stock into a smaller number of shares, then in each such case the Exercise Price shall
be multiplied by a fraction of which the numerator shall be the number of shares of the
Common Stock outstanding immediately before such event and of which the denominator shall be
the number of shares of the Common Stock outstanding immediately after such event and the
number of Warrant Shares issuable upon exercise of this Warrant shall be proportionately
adjusted. Any adjustment made pursuant to clause (i) of this paragraph shall become effective
immediately after the record date for the determination of stockholders entitled to receive
such dividend or distribution, and any adjustment pursuant to clause (ii) or (iii) of this
paragraph shall become effective immediately after the effective date of such subdivision or
combination.

(B) If the Company, at any time while this Warrant is outstanding, distributes to
holders of the Common Stock (i) evidences of its indebtedness, (ii) any security (other than
a distribution of the Common Stock covered by the preceding paragraph), (iii) rights or
warrants to subscribe for or purchase any security, or (iv) any other asset (in each case,
“Distributed Property”), then in each such case the Holder shall be entitled upon exercise of
this Warrant for the purchase of any or all of the Warrant Shares, to receive the amount of
Distributed Property which would have been payable to the Holder had such Holder been the
holder of such Warrant Shares on the record date for the determination of stockholders
entitled to
such Distributed Property. The Company will at all times set aside in escrow and keep
available for distribution to such holder upon exercise of this Warrant a portion of the
Distributed Property to satisfy the distribution to which such Holder is entitled pursuant to
the preceding sentence.

 

-7-

 

(C) Upon the occurrence of each adjustment pursuant to this Section 4, the
Company at its expense will, at the written request of the Holder, promptly compute such
adjustment in accordance with the terms of this Warrant and prepare a certificate setting
forth such adjustment, including a statement of the adjusted Exercise Price and adjusted
number or type of Warrant Shares or other securities issuable upon exercise of this Warrant
(as applicable), describing the transactions giving rise to such adjustments and showing in
detail the facts upon which such adjustment is based. Upon written request, the Company will
promptly deliver a copy of each such certificate to the Holder and to the Company’s transfer
agent.

(D) No adjustment in the Exercise Price shall be required unless such adjustment would
require an increase or decrease of at least $0.0001; provided, however, that any adjustments
which by reason of this Section 4(D) are not required to be made shall be carried
forward and taken into account in any subsequent adjustment; provided, further, however, that
adjustments shall be required and made in accordance with the provisions of this Section
4 (other than this Section 4(D)) not later than such time as may be required in
order to preserve the tax-free nature of a distribution, if any, to the Holder of this Warrant
or the Warrant Shares issuable upon the exercise hereof. All calculations under this
Section 4 shall be made to the $0.0001 or to the nearest 1/1000th of a share, as the
case may be. Anything in this Section 4 to the contrary notwithstanding, the Company
shall be entitled to make such reductions in the Exercise Price, in addition to those required
by this Section 4, as it in its discretion shall deem to be advisable in order that
any stock dividend, subdivision of shares or distribution of rights to purchase stock or
securities convertible or exchangeable for stock hereafter made by the Company to its
stockholders shall not be taxable.

5. FRACTIONAL SHARES. No fractional shares shall be issued upon the exercise of this
Warrant as a consequence of any adjustment pursuant hereto. All Warrant Shares (including
fractions) issuable upon exercise of this Warrant may be aggregated for purposes of determining
whether the exercise would result in the issuance of any fractional share. If, after aggregation,
the exercise would result in the issuance of a fractional share, the number of Warrant Shares to be
issued will be rounded down to the nearest whole share.

 

-8-

 

6. FUNDAMENTAL TRANSACTIONS. If any capital reorganization, reclassification of the
capital stock of the Company, consolidation or merger of the Company with another entity in which
the Company is not the surviving corporation, or sale, transfer or other disposition of all or
substantially all of the Company’s assets to another entity shall be effected (any such transaction
being hereinafter referred to as a “Fundamental Transaction”), then the Holder shall thereafter
have the right to purchase
and receive upon the basis and upon the terms and conditions herein specified and in lieu of
the Warrant Shares immediately theretofore issuable upon exercise of this Warrant, such shares of
stock, securities or assets as would have been issuable or payable with respect to or in exchange
for a number of Warrant Shares equal to the number of Warrant Shares immediately theretofore
issuable upon exercise of this Warrant, had such reorganization, reclassification, consolidation,
merger, sale, transfer or other disposition not taken place, and in any such case appropriate
provision shall be made with respect to the rights and interests of the Holder to the end that the
provisions hereof (including, without limitation, provision for adjustment of the Exercise Price)
shall thereafter be applicable, as nearly equivalent as may be practicable in relation to any share
of stock, securities or assets thereafter deliverable upon the exercise thereof. The Company shall
not effect any such consolidation, merger, sale, transfer or other disposition unless prior to or
simultaneously with the consummation thereof the successor entity (if other than the Company)
resulting from such consolidation or merger, or the entity purchasing or otherwise acquiring such
assets or other appropriate corporation or entity shall assume the obligation to deliver to the
Holder, at the last address of the Holder appearing on the books of the Company, such shares of
stock, securities or assets as, in accordance with the foregoing provisions, the Holder may be
entitled to purchase, and the other obligations under this Warrant. Notice of any such
reorganization, reclassification, consolidation, merger, sale, transfer or other disposition and of
said provisions so proposed to be made, shall be mailed to the Holders of the Warrants not less
than twenty (20) days prior to such event. The provisions of this Section 6 shall similarly
apply to successive reorganizations, reclassifications, consolidations, mergers, sales, transfers
or other dispositions, each of which transactions shall also constitute a Fundamental Transaction.

7. NONCIRCUMVENTION. The Company hereby covenants and agrees that the Company will
not, by amendment of its Certificate of Incorporation, Bylaws or through any reorganization,
transfer of assets, consolidation, merger, scheme of arrangement, dissolution, issue or sale of
securities, or any other voluntary action, avoid or seek to avoid the observance or performance of
any of the terms of this Warrant, and will at all times in good faith carry out all the provisions
of this Warrant. Without limiting the generality of the foregoing, the Company (i) shall not
increase the par value of any shares of the Common Stock receivable upon the exercise of this
Warrant above the Exercise Price then in effect, (ii) shall take all such actions as may be
necessary or appropriate in order that the Company may validly and legally issue fully paid and
nonassessable shares of the Common Stock upon the exercise of this Warrant, and (iii) shall, so
long as this Warrant is outstanding, take all action necessary to reserve and keep available out of
its authorized and unissued shares of the Common Stock, solely for the purpose of effecting the
exercise of this Warrant, 100% of the Warrant Shares issuable upon exercise of this Warrant then
outstanding (without regard to any limitations on exercise).

8. NO STOCKHOLDER RIGHTS. Other than as provided in Section 3.2 or otherwise
herein, this Warrant in and of itself shall not entitle the Holder to any voting rights or other
rights as a stockholder of the Company.

 

-9-

 

9. TRANSFER OF WARRANT. Subject to applicable laws, this Warrant and all rights
hereunder are transferable, by the Holder in person or by duly authorized attorney, upon delivery
of this Warrant and the form of assignment attached hereto as Exhibit B to any transferee
designated by Holder. The transferee shall sign an investment letter in form and substance
reasonably satisfactory to the Company and its counsel. Any purported transfer of all or any
portion of this Warrant in violation of the provisions of this Warrant shall be null and void.

10. LOST, STOLEN, MUTILATED OR DESTROYED WARRANT. If this Warrant is lost, stolen,
mutilated or destroyed, the Company may, on such terms as to indemnity or otherwise as it may
reasonably impose (which shall, in the case of a mutilated Warrant, include the surrender thereof),
issue a new Warrant of like denomination and tenor as this Warrant so lost, stolen, mutilated or
destroyed. Any such new Warrant shall constitute an original contractual obligation of the Company,
whether or not the allegedly lost, stolen, mutilated or destroyed Warrant shall be at any time
enforceable by anyone.

11. NOTICES, ETC. All notices required or permitted hereunder shall be in writing and
shall be deemed effectively given: (a) upon personal delivery to the party to be notified, (b) when
sent by confirmed facsimile to the facsimile number specified in writing by the recipient if sent
during normal business hours of the recipient on a Trading Day, if not, then on the next Trading
Day, (c) the next Trading Day after deposit with a nationally recognized overnight courier,
specifying next day delivery, with written verification of receipt. All communications shall be
sent to the Company at the address listed on the signature page hereto and to Holder at the
applicable address set forth on the applicable signature page to the Subscription Agreement or at
such other address as the Company or Holder may designate by ten (10) days advance written notice
to the other parties hereto.

12. ACCEPTANCE. Receipt of this Warrant by the Holder shall constitute acceptance of
and agreement to all of the terms and conditions contained herein.

13. GOVERNING LAW. This Warrant and all rights, obligations and liabilities hereunder
shall be governed by, and construed in accordance with, the internal laws of the State of New York,
without giving effect to the principles of conflicts of law that would require the application of
the laws of any other jurisdiction.

 

-10-

 

14. AMENDMENT OR WAIVER. Any term of this Warrant may be amended or waived (either
generally or in a particular instance and either retroactively or prospectively) with the written
consent of the Company and the holders of Company Warrants representing at least two-thirds of the
number of shares of the Common Stock then subject to outstanding Company Warrants. Notwithstanding
the foregoing, (a) this Warrant may be amended and the observance of any term hereunder may be
waived without the written consent of the Holder only in a manner which applies to all Company
Warrants in the same fashion and (b) the number of Warrant Shares subject to this
Warrant and the Exercise Price of this Warrant may not be amended, and the right to exercise
this Warrant may not be waived, without the written consent of the Holder. The Company shall give
prompt written notice to the Holder of any amendment hereof or waiver hereunder that was effected
without the Holder’s written consent. No waivers of any term, condition or provision of this
Warrant, in any one or more instances, shall be deemed to be, or construed as, a further or
continuing waiver of any such term, condition or provision.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

 

-11-

 

IN WITNESS WHEREOF, the Company has caused this Warrant to be executed by its duly authorized
officer as of February 25, 2010.

	 	 	 	 	 	 	 
	 	 	AMICUS THERAPEUTICS, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

Name:
	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	 	 	6 Cedar Brook Drive

Cranbury, NJ 08512	 	 

[Signature Page to Warrant]

 

 

 

Exhibit A

FORM OF NOTICE OF EXERCISE

			
	TO:	 	AMICUS THERAPEUTICS, INC.

Reference is made to that certain Warrant to Purchase Common Stock, dated March [•], 2010, No.
                     of a series of similar Warrants to Purchase Common Stock (the “Warrant”).
Capitalized terms used herein and not otherwise defined shall have the respective
meanings set forth in the Warrant.

(1) o The undersigned hereby elects to purchase                      shares of the common
stock, par value $.01 (the “Common Stock”), of AMICUS THERAPEUTICS, INC. (the “Company”)
pursuant to the terms of the Warrant, and tenders herewith payment of the Exercise Price
in full, together with all applicable transfer taxes, if any.

o The undersigned hereby elects to purchase                      shares of the Common Stock
pursuant to the terms of the net exercise provisions set forth in Section 2.1 of the
Warrant, and shall tender payment of all applicable transfer taxes, if any.

(2) Please issue the certificate for shares of the Common Stock in the name of:

 

Print or type name

 

Social Security or other Identifying Number

 

Street Address

 

City State Zip Code

 

 

 

(3) If such number of shares shall not be all the shares purchasable upon the exercise of the
Warrants evidenced by this Warrant, a new warrant certificate for the balance of such Warrants
remaining unexercised shall be registered in the name of and delivered to:

Please insert social security or other identifying number:                                         

 

(Please print name and address)

 

	 	 	 	 	 
	Dated:
	 	 	 	 
	 
	 	 	 	 
	(Date)

	 	

 

(Signature)
	 	 
	 
	 	 	 	 
	 

	 	 

(Print name)
	 	 

 

 

 

Exhibit B

FORM OF ASSIGNMENT

(To assign the foregoing Warrant, execute this form and supply required information. Do not
use this form to purchase shares.)

FOR VALUE RECEIVED, the foregoing Warrant and all rights evidenced thereby are hereby assigned
to

	 	 	 	 	 
	Name:
	 	 	 	 
	 

	 	 

(Please Print)
	 	 
	 
	 	 	 	 
	Address:
	 	 	 	 
	 

	 	 

(Please Print)
	 	 

Dated: ______, 201[_]

Holder’s Signature:                                         

Holder’s Address:                                         

NOTE: The signature to this Form of Assignment must correspond with the name as it appears on the
face of the Warrant, without alteration or enlargement or any change whatever. Officers of
corporations and those acting in a fiduciary or other representative capacity should file proper
evidence of authority to assign the foregoing Warrant.

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