Document:

exv10w1

Exhibit 10.1

EXECUTION VERSION

 

U.S. $750,000,000

CREDIT AGREEMENT

Dated as of June 22, 2011

among

COVENTRY HEALTH CARE, INC.

as Borrower

and

THE INITIAL LENDERS NAMED HEREIN

as Initial Lenders

and

THE INITIAL ISSUING BANKS NAMED HEREIN

as Initial Issuing  Banks

and

JPMORGAN CHASE BANK, NATIONAL ASSOCIATION

as Administrative Agent

and

CITIBANK, N.A.

and

BANK OF AMERICA, N.A.

as Syndication Agents

 

J.P. MORGAN SECURITIES LLC,

CITIGROUP GLOBAL MARKETS INC.

and

MERRILL LYNCH PIERCE FENNER & SMITH INCORPORATED

as Joint Lead Arrangers

and Joint Bookrunners

 

 

TABLE OF CONTENTS

	 	 	 	 	 

	ARTICLE I DEFINITIONS AND ACCOUNTING TERMS
	 	 	1	 
	SECTION 1.01. Certain Defined Terms
	 	 	1	 
	SECTION 1.02. Terms Generally
	 	 	19	 
	SECTION 1.03. Computation of Time Periods
	 	 	19	 
	SECTION 1.04. Accounting Terms
	 	 	19	 
	 
	ARTICLE II AMOUNTS AND TERMS OF THE ADVANCES AND LETTERS OF CREDIT
	 	 	20	 
	SECTION 2.01. The Advances and Letters of Credit
	 	 	20	 
	SECTION 2.02. Making the Advances
	 	 	20	 
	SECTION 2.03. Issuance of and Drawings and Reimbursement Under Letters of Credit
	 	 	22	 
	SECTION 2.04. Fees
	 	 	24	 
	SECTION 2.05. Optional Termination or Reduction of the Commitments
	 	 	24	 
	SECTION 2.06. Repayment
	 	 	25	 
	SECTION 2.07. Interest on Advances
	 	 	26	 
	SECTION 2.08. Interest Rate Determination
	 	 	26	 
	SECTION 2.09. Optional Conversion of Advances
	 	 	28	 
	SECTION 2.10. Prepayments of Advances
	 	 	28	 
	SECTION 2.11. Increased Costs
	 	 	28	 
	SECTION 2.12. Illegality
	 	 	29	 
	SECTION 2.13. Payments and Computations
	 	 	30	 
	SECTION 2.14. Taxes
	 	 	31	 
	SECTION 2.15. Sharing of Payments, Etc
	 	 	33	 
	SECTION 2.16. Evidence of Debt
	 	 	34	 
	SECTION 2.17. Use of Proceeds
	 	 	34	 

i 

 

	 	 	 	 	 

	SECTION 2.18. Increase in the Aggregate Revolving Credit Commitments
	 	 	34	 
	SECTION 2.19. Extension of Termination Date
	 	 	36	 
	SECTION 2.20. Defaulting Lenders
	 	 	39	 
	SECTION 2.21. Cash Collateral
	 	 	41	 
	SECTION 2.22. Replacement of Lenders
	 	 	42	 
	 
	ARTICLE III CONDITIONS TO EFFECTIVENESS AND LENDING
	 	 	43	 
	SECTION 3.01. Conditions Precedent to Effectiveness of Section 2.01
	 	 	43	 
	SECTION 3.02. Conditions Precedent to Each Borrowing, Letter of Credit Issuance and
Commitment Increase
	 	 	44	 
	SECTION 3.03.Determinations Under Section 3.01
	 	 	45	 
	 
	ARTICLE IV REPRESENTATIONS AND WARRANTIES
	 	 	45	 
	SECTION 4.01.Representations and Warranties of the Borrower
	 	 	45	 
	 
	ARTICLE V COVENANTS OF THE BORROWER
	 	 	47	 
	SECTION 5.01.Affirmative Covenants
	 	 	47	 
	SECTION 5.02.Negative Covenants
	 	 	51	 
	SECTION 5.03.Financial Covenant
	 	 	54	 
	 
	ARTICLE VI EVENTS OF DEFAULT
	 	 	54	 
	SECTION 6.01.Events of Default
	 	 	54	 
	SECTION 6.02.Actions in Respect of the Letters of Credit upon Default
	 	 	57	 
	 
	ARTICLE VII THE AGENT
	 	 	57	 
	SECTION 7.01.Authorization and Action
	 	 	57	 
	SECTION 7.02.Agent’s Reliance, Etc
	 	 	58	 
	SECTION 7.03.JPMCB and Affiliates
	 	 	58	 
	SECTION 7.04.Lender Credit Decision
	 	 	58	 
	SECTION 7.05.Indemnification
	 	 	59	 
	SECTION 7.06.Successor Agent
	 	 	60	 
	SECTION 7.07.Other Agents
	 	 	60	 

ii 

 

	 	 	 	 	 

	ARTICLE VIII MISCELLANEOUS
	 	 	60	 
	SECTION 8.01.Amendments, Etc
	 	 	60	 
	SECTION 8.02.Notices, Etc
	 	 	61	 
	SECTION 8.03.No Waiver; Remedies
	 	 	62	 
	SECTION 8.04.Costs and Expenses
	 	 	62	 
	SECTION 8.05.Right of Setoff
	 	 	64	 
	SECTION 8.06.Binding Effect
	 	 	64	 
	SECTION 8.07.Assignments and Participations
	 	 	64	 
	SECTION 8.08.Confidentiality
	 	 	68	 
	SECTION 8.09.Governing Law
	 	 	69	 
	SECTION 8.10.Execution in Counterparts
	 	 	69	 
	SECTION 8.11.Jurisdiction, Etc
	 	 	69	 
	SECTION 8.12.No Liability of the Issuing Banks
	 	 	69	 
	SECTION 8.13.Patriot Act Notice
	 	 	70	 
	SECTION 8.14.Waiver of Jury Trial
	 	 	70	 
	SECTION 8.15.No Fiduciary Duty
	 	 	70	 
	SECTION 8.16.Severability
	 	 	71	 

	 	 	 

	Schedules
	 	 
	Schedule I

	 	List of Applicable Lending Offices
	Schedule 2.01(b)

	 	Existing Letters of Credit
	Schedule 4.01(c)

	 	Required Authorizations and Approvals
	Schedule 4.01(f)

	 	Disclosed Litigation
	Schedule 4.01(j)

	 	Subsidiaries
	Schedule 5.02(a)

	 	Existing Liens
	Schedule 5.02(d)

	 	Existing Debt

	 	 	 

	Exhibits
	 	 
	Exhibit A

	 	Form of Note
	Exhibit B

	 	Form of Notice of Borrowing
	Exhibit C

	 	Form of Assignment and Acceptance
	Exhibit D-1

	 	Form of Opinion of General Counsel for the Borrower
	Exhibit D-2

	 	Form of Opinion of Bass, Berry & Sims PLC

iii 

 

CREDIT AGREEMENT

          CREDIT AGREEMENT, dated as of June 22, 2011 (this “Agreement”), among COVENTRY HEALTH
CARE, INC., a Delaware corporation (the “Borrower”), the banks, financial institutions and
other institutional lenders (the “Initial Lenders”) and issuers of letters of credit (the
“Initial Issuing Banks”) listed on Schedule I hereto, and their successors and
permitted assigns, and JPMORGAN CHASE BANK, NATIONAL ASSOCIATION (“JPMCB”), as
administrative agent (the “Agent”) for the Lenders (as hereinafter defined).

          The parties hereto agree as follows:

ARTICLE I

DEFINITIONS AND ACCOUNTING TERMS

          SECTION 1.01. Certain Defined Terms. As used in this Agreement, the following terms
shall have the following meanings:

          “Advance” means an advance by a Lender to the Borrower as part of a Borrowing and
refers to a Base Rate Advance or a Eurodollar Rate Advance (each of which shall be a “Type”
of Advance).

          “Affiliate” means, as to any Person, any other Person that, directly or indirectly,
controls, is controlled by or is under common control with such Person or is a director or
executive officer of such Person. For purposes of this definition, the term “control” (including
the terms “controlling”, “controlled by” and “under common control with”) of a Person means the
possession, direct or indirect, of the power to vote 10% or more of the Voting Stock of such Person
or to direct or cause the direction of the management and policies of such Person, whether through
the ownership of Voting Stock, by contract or otherwise.

          “Agent’s Account” means the account of the Agent maintained by the Agent at JPMCB at
its office at 10 South Dearborn, Floor 07, Chicago, IL 60603-2003, Attention: Joyce King.

          “Anniversary Date” has the meaning specified in Section 2.19(a).

          “Applicable Lending Office” means, with respect to each Lender, such Lender’s Domestic
Lending Office in the case of a Base Rate Advance and such Lender’s Eurodollar Lending Office in
the case of a Eurodollar Rate Advance.

          “Applicable Margin” means, as of any date, (a) with respect to Base Rate Advances, one
percent per annum less than the Applicable Margin for Eurodollar Rate Advances as of such date, but
in no event less than zero, and (b) with respect to Eurodollar Rate Advances, a percentage per
annum determined by reference to the Public Debt Rating in effect on such date as set forth below:

 

 

	 	 	 
	 	 	Applicable Margin for
	Public Debt Rating S&P/Moody’s/Fitch	 	Eurodollar Rate Advances
	Level 1
	 	 
	BBB+/Baa1/BBB+ or above
	 	1.050%
	Level 2
	 	 
	BBB/Baa2/BBB
	 	1.250%
	Level 3
	 	 
	BBB-/Baa3/BBB-
	 	1.475%
	Level 4
	 	 
	BB+/ Ba1/BB+
	 	1.675%
	Level 5
	 	 
	Lower than Level 4
	 	1.850%

          “Applicable Percentage” means, as of any date, a percentage per annum determined by
reference to the Public Debt Rating in effect on such date as set forth below:

	 	 	 
	 	 	Applicable
	Public Debt Rating S&P/Moody’s/Fitch	 	Percentage
	Level 1
	 	 
	BBB+/Baa1/BBB+ or above
	 	0.200%
	Level 2
	 	 
	BBB/ Baa2/BBB
	 	0.250%
	Level 3
	 	 
	BBB-/ Baa3/BBB-
	 	0.275%
	Level 4
	 	 
	BB+/ Ba1/BB+
	 	0.325%
	Level 5
	 	 
	Lower than Level 4
	 	0.400%

          “Approved Fund” means any Person (other than a natural person) that is engaged in
making, purchasing, holding or investing in bank loans and similar extensions of credit in the
ordinary course of its business and that is administered or managed by (a) a Lender, (b) an
Affiliate of a Lender or (c) an entity or an Affiliate of an entity that administers or manages a
Lender.

          “Assignment and Acceptance” means an assignment and acceptance entered into by a
Lender and an Eligible Assignee, and accepted by the Agent, in substantially the form of
Exhibit C hereto.

2

 

          “Assuming Lender” has the meaning specified in Section 2.18(d).

          “Assumption Agreement” has the meaning specified in Section 2.18(d)(ii).

          “Available Amount” of any Letter of Credit means, at any time, the maximum amount
available to be drawn under such Letter of Credit at such time (assuming compliance at such time
with all conditions to drawing); provided, however, that, with respect to any
Letter of Credit that, by its terms or the terms of any Letter of Credit Agreement related thereto,
provides for one or more automatic increases in the stated amount thereof, the Available Amount of
such Letter of Credit shall be deemed to be the maximum stated amount of such Letter of Credit
after giving effect to all such increases, whether or not such maximum stated amount is in effect
at such time.

          “Bankruptcy Event” means, with respect to any Person, when such Person becomes the
subject of a bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee,
administrator, custodian, assignee for the benefit of creditors or similar Person charged with the
reorganization or liquidation of its business appointed for it, or, in the good faith determination
of the Agent, has taken any action in furtherance of, or indicating its consent to, approval of, or
acquiescence in, any such proceeding or appointment; provided that a Bankruptcy Event shall
not result solely by virtue of any ownership interest, or the acquisition of any ownership
interest, in such Person by a Governmental Authority or instrumentality thereof so long as such
ownership interest does not result in or provide such Person with immunity from the jurisdiction of
courts within the United States or from the enforcement of judgments or writs of attachment on its
assets or permit such Person (or such Governmental Authority or instrumentality) to reject,
repudiate, disavow or disaffirm any contracts or agreements made by such Person.

          “Base Rate” means, for any date, a fluctuating interest rate per annum in effect from
time to time, which rate per annum shall at all times be equal to (a) the highest of (i) the rate
of interest announced publicly by JPMCB as its prime rate in effect at its office located at 270
Park Avenue, New York, New York, from time to time, (ii) 1/2 of one percent per annum above the
Federal Funds Rate and (iii) one percent per annum above the Eurodollar Rate for a one-month
interest period as in effect on the date of determination plus (b) the Applicable Margin.

          “Base Rate Advance” means an Advance that bears interest as provided in Section
2.07(a)(i).

          “Board” means the Board of Governors of the Federal Reserve System.

          “Borrower Information” has the meaning specified in Section 8.08.

          “Borrowing” means a borrowing consisting of simultaneous Advances of the same Type
made by each of the Lenders pursuant to Section 2.01(a).

          “Business Day” means a day of the year on which banks are not required or authorized
by law to close in New York City and, if the applicable Business Day relates to any Eurodollar Rate
Advances, on which dealings are carried on in the London interbank market.

3

 

          “Capital Lease Obligations” means, as to any Person, the obligations of such Person to
pay rent or other amounts under any lease of (or other arrangement conveying the right to use) real
or personal property, or a combination thereof, to the extent such obligations are required to be
classified and accounted for as capital leases on a balance sheet of such Person under GAAP and,
for the purposes of this Agreement, the amount of such obligations at any time shall be the
capitalized amount thereof at such time determined in accordance with GAAP.

          “Cash Collateralize” means to deposit in the L/C Cash Collateral Account, or to pledge
and deposit with or deliver to the Agent, for the benefit of one or more of the Issuing Banks or
Lenders, as collateral for the L/C Exposure, cash or deposit account balances, pursuant to
documentation in form and substance satisfactory to the Agent and each applicable Issuing Bank.
“Cash Collateral” shall have a meaning correlative to the foregoing and shall include the
proceeds of such cash collateral and other credit support.

          “Change in Law” means the occurrence, after the date of this Agreement, of any of the
following: (a) the adoption or taking effect of any law, rule, regulation or treaty, (b) any
change in any law, rule, regulation or treaty or in the administration, interpretation,
implementation or application thereof by any Governmental Authority or (c) the making or issuance
of any request, rule, guideline or directive (whether or not having the force of law) by any
Governmental Authority; provided that notwithstanding anything herein to the contrary, (x)
the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines
or directives thereunder or issued in connection therewith and (y) all requests, rules, guidelines
or directives promulgated by the Bank for International Settlements, the Basel Committee on Banking
Supervision (or any successor or similar authority) or the United States or foreign regulatory
authorities shall in each case be deemed to be a “Change in Law”, regardless of the date enacted,
adopted or issued.

          “Commitment” means a Revolving Credit Commitment or a Letter of Credit Commitment.

          “Commitment Date” has the meaning specified in Section 2.18(b).

          “Commitment Increase” has the meaning specified in Section 2.18(a).

          “Communications” has the meaning specified in Section 8.02(b).

          “Consent Date” has the meaning specified in Section 2.19(a).

          “Consolidated” refers to the consolidation of accounts in accordance with GAAP.

          “Consolidated EBITDA” means, for any period, Consolidated Net Income for such period
plus, without duplication and to the extent reflected as a charge in the statement of such
Consolidated Net Income for such period, the sum of (a) income tax expense, (b) interest expense,
amortization or writeoff of debt discount and debt issuance costs and commissions, discounts and
other fees and charges associated with Debt (including the Advances), (c) depreciation and
amortization expense, (d) amortization of intangibles (including, but not limited to, goodwill) and
organization costs, and non-cash write-offs and impairment charges with respect thereto, (e)
non-cash stock-based compensation expense and (f) any extraordinary or

4

 

non-recurring expenses or losses (including, whether or not otherwise includable as a separate
item in the statement of such Consolidated Net Income for such period, losses on sales of assets
outside of the ordinary course of business), and minus, to the extent included in the
statement of such Consolidated Net Income for such period, the sum of (i) any extraordinary or
non-recurring income or gains (including, whether or not otherwise includable as a separate item in
the statement of such Consolidated Net Income for such period, gains on sales of assets outside of
the ordinary course of business) and (ii) all non-cash items increasing Consolidated Net Income for
such period (other than any such non-cash item to the extent that it will result in the receipt of
cash payments in any future period). For the purposes of calculating Consolidated EBITDA for any
period of four consecutive fiscal quarters (each, a “Reference Period”) with respect to any
determination of the Consolidated Leverage Ratio, (i) if at any time during such Reference Period
the Borrower or any of its Subsidiaries shall have made any Material Disposition (as defined
below), the Consolidated EBITDA for such Reference Period shall be reduced by an amount equal to
the Consolidated EBITDA (if positive) attributable to the property that is the subject of such
Material Disposition for such Reference Period or increased by an amount equal to the Consolidated
EBITDA (if negative) attributable thereto for such Reference Period and (ii) if during such
Reference Period the Borrower or any of its Subsidiaries shall have made a Material Acquisition (as
defined below), Consolidated EBITDA for such Reference Period shall be calculated after giving pro
forma effect thereto as if such Material Acquisition occurred on the first day of such Reference
Period. As used in this definition, “Material Acquisition” means any acquisition of
property or series of related acquisitions of property that (a) constitutes assets comprising all
or substantially all of an operating unit of a business or results in a Person becoming a
Subsidiary of the Borrower and (b) involves the payment of consideration by the Borrower and its
Subsidiaries in excess of $25,000,000; and “Material Disposition” means any sale, lease,
transfer or other disposition of property or series of related sales, leases, transfers or other
dispositions of property that yields gross proceeds to the Borrower or any of its Subsidiaries in
excess of $25,000,000.

          “Consolidated Leverage Ratio” means, as at the last day of any period, the ratio of
(a) Consolidated Total Debt on such day to (b) Consolidated EBITDA for such period.

          “Consolidated Net Income” means, for any period, the consolidated net income (or loss)
of the Borrower and its Subsidiaries, determined on a consolidated basis in accordance with GAAP;
provided that there shall be excluded (a) the income (or deficit) of any Person accrued
prior to the date it becomes a Subsidiary of the Borrower or is merged into or consolidated with
the Borrower or any of its Subsidiaries, (b) the income (or deficit) of any Person (other than a
Subsidiary of the Borrower) in which the Borrower or any of its Subsidiaries has an ownership
interest, except to the extent that any such income is actually received by the Borrower or such
Subsidiary in the form of dividends or other distributions and (c) the undistributed earnings of
any Subsidiary of the Borrower to the extent that the declaration or payment of dividends or
similar distributions by such Subsidiary is not at the time permitted by the terms of any
contractual obligation (other than under this Agreement or the Notes) or (other than in the case of
any such Subsidiary that is an HMO Subsidiary or an Insurance Subsidiary) requirement of law
applicable to such Subsidiary.

          “Consolidated Net Worth” means, at any date, the consolidated shareholders’ equity of
the Borrower and its Subsidiaries, determined on a consolidated basis as of such date.

5

 

          “Consolidated Total Debt” means, at any date, the aggregate principal amount of all
Debt of the Borrower and its Subsidiaries at such date, determined on a consolidated basis in
accordance with GAAP.

          “Convert”, “Conversion” and “Converted” each refers to a conversion of
Advances of one Type into Advances of the other Type pursuant to Section 2.08 or 2.09.

          “Debt” of any Person means, without duplication, (a) all indebtedness of such Person
for borrowed money, (b) all obligations of such Person for the deferred purchase price of property
or services (other than trade payables incurred in the ordinary course of such Person’s business),
(c) all obligations of such Person evidenced by notes, bonds, debentures or other similar
instruments, (d) all obligations of such Person created or arising under any conditional sale or
other title retention agreement with respect to property acquired by such Person (even though the
rights and remedies of the seller or lender under such agreement in the event of default are
limited to repossession or sale of such property), (e) all Capital Lease Obligations of such
Person, (f) all obligations of such Person, contingent or otherwise, as an account party or
applicant under or in respect of acceptances, letters of credit or similar arrangements, (g) the
liquidation value of all mandatorily redeemable preferred capital stock of such Person, (h) all
Guarantee Obligations of such Person in respect of obligations of the kind referred to in clauses
(a) through (g) above, (i) all obligations of the kind referred to in clauses (a) through (h) above
secured by (or for which the holder of such obligation has an existing right, contingent or
otherwise, to be secured by) any Lien on property (including accounts and contract rights) owned by
such Person, whether or not such Person has assumed or become liable for the payment of such
obligation, and (j) for the purposes of Section 6.01(d) only, all obligations of such Person in
respect of Hedge Agreements. The Debt of any Person shall include the Debt of any other entity
(including any partnership in which such Person is a general partner) to the extent such Person is
liable therefor as a result of such Person’s ownership interest in or other relationship with such
entity, except to the extent the terms of such Debt expressly provide that such Person is not
liable therefor.

          “Debtor Relief Law” has the meaning specified in Section 6.01(e).

          “Default” means any Event of Default or any event that would constitute an Event of
Default but for the requirement that notice be given or time elapse or both.

          “Defaulting Lender” means, subject to Section 2.20(b), any Lender that (a) has failed
to (i) fund all or any portion of its Advances within two Business Days of the date such Advances
were required to be funded hereunder unless such Lender notifies the Agent and the Borrower in
writing that such failure is the result of such Lender’s good faith determination that one or more
conditions precedent to funding (each of which conditions precedent, together with any applicable
default, shall be specifically identified in such writing) has not been satisfied, or (ii) pay to
the Agent, any Issuing Bank or any other Lender any other amount required to be paid by it
hereunder (including in respect of its participation in Letters of Credit) within two Business Days
of the date when due, (b) has notified the Borrower, the Agent or any Issuing Bank in writing that
it does not intend to comply with its funding obligations hereunder, or has made a public statement
to that effect (unless such writing or public statement relates to such Lender’s obligation to fund
an Advance hereunder and states that such position is based on such Lender’s

6

 

good faith determination that a condition precedent to funding (which condition precedent,
together with any applicable default, shall be specifically identified in such writing or public
statement) cannot be satisfied), (c) has failed, within three Business Days after written request
by the Agent or the Borrower, to confirm in writing to the Agent and the Borrower that it will
comply (and is financially able to comply) with its prospective funding obligations hereunder
( provided that such Lender shall cease to be a Defaulting Lender pursuant to this clause
(c) upon receipt of such written confirmation by the Agent and the Borrower in form and substance
satisfactory to the Agent and the Borrower) or (d) has, or has a direct or indirect parent company
that has, become the subject of a Bankruptcy Event. Any determination by the Agent that a Lender
is a Defaulting Lender under clauses (a) through (d) above shall be conclusive and binding absent
manifest error, and such Lender shall be deemed to be a Defaulting Lender (subject to Section
2.20(b)) upon delivery of written notice of such determination to the Borrower, each Issuing Bank
and each Lender.

          “Disclosed Litigation” has the meaning specified in Section 4.01(f).

          “Domestic Lending Office” means, with respect to any Lender, the office of such Lender
specified as its “Domestic Lending Office” opposite its name on Schedule I hereto or in the
Assumption Agreement or the Assignment and Acceptance pursuant to which it became a Lender, or such
other office of such Lender as such Lender may from time to time specify to the Borrower and the
Agent.

          “Effective Date” has the meaning specified in Section 3.01.

          “Eligible Assignee” means (i) a Lender; (ii) an Affiliate of a Lender; (iii) an
Approved Fund; and (iv) any other Person approved by the Agent and each Issuing Bank (such approval
not to be unreasonably withheld or delayed) and, unless an Event of Default has occurred and is
continuing at the time any assignment is effected in accordance with Section 8.07, the Borrower
(such approval not to be unreasonably withheld or delayed); provided that the Borrower
shall be deemed to have consented to any such assignment unless it shall object thereto by written
notice to the Agent within five Business Days after having received notice thereof. Neither (x)
the Borrower or an Affiliate of the Borrower nor (y) any Defaulting Lender or any of its
Subsidiaries, or any Person who, upon becoming a Lender hereunder, would constitute any of the
foregoing Persons described in this clause (y), shall qualify as an Eligible Assignee.

          “Environmental Law” means any federal, state, local or foreign statute, law,
ordinance, rule, regulation, code, order, judgment, decree or judicial or agency interpretation,
policy or guidance relating to pollution or protection of the environment or natural resources,
including those relating to the use, handling, transportation, treatment, storage, disposal,
release or discharge of Hazardous Materials.

          “ERISA” means the Employee Retirement Income Security Act of 1974, as amended from
time to time, and the regulations promulgated and rulings issued thereunder.

7

 

          “ERISA Affiliate” means any Person that for purposes of Title IV of ERISA is a member
of the Borrower’s controlled group, or under common control with the Borrower, within the meaning
of Section 414 of the Internal Revenue Code.

          “ERISA Event” means (a) (i) the occurrence of a reportable event, within the meaning
of Section 4043 of ERISA, with respect to any Plan unless the 30-day notice requirement with
respect to such event has been waived by the PBGC, or (ii) the requirements of subsection (1) of
Section 4043(b) of ERISA (without regard to subsection (2) of such Section) are met with respect to
a contributing sponsor, as defined in Section 4001(a)(13) of ERISA, of a Plan, and an event
described in paragraph (9), (10), (11), (12) or (13) of Section 4043(c) of ERISA is reasonably
expected to occur with respect to such Plan within the following 30 days; (b) the application for a
minimum funding waiver with respect to a Plan; (c) the provision by the administrator of any Plan
of a notice of intent to terminate such Plan pursuant to Section 4041(a)(2) of ERISA (including any
such notice with respect to a plan amendment referred to in Section 4041(e) of ERISA); (d) the
cessation of operations at a facility of the Borrower or any ERISA Affiliate in the circumstances
described in Section 4062(e) of ERISA; (e) the withdrawal by the Borrower or any ERISA Affiliate
from a Multiple Employer Plan during a plan year for which it was a substantial employer, as
defined in Section 4001(a)(2) of ERISA; (f) the conditions for the imposition of a lien under
Section 302(f) of ERISA shall have been met with respect to any Plan; (g) the adoption of an
amendment to a Plan requiring the provision of security to such Plan pursuant to Section 307 of
ERISA; or (h) the institution by the PBGC of proceedings to terminate a Plan pursuant to Section
4042 of ERISA, or the occurrence of any event or condition described in Section 4042 of ERISA that
constitutes grounds for the termination of, or the appointment of a trustee to administer, a Plan.

          “Eurocurrency Liabilities” has the meaning assigned to that term in Regulation D of
the Board, as in effect from time to time.

          “Eurodollar Lending Office” means, with respect to any Lender, the office of such
Lender specified as its “Eurodollar Lending Office” opposite its name on Schedule I hereto
or in the Assumption Agreement or the Assignment and Acceptance pursuant to which it became a
Lender (or, if no such office is specified, its Domestic Lending Office), or such other office of
such Lender as such Lender may from time to time specify to the Borrower and the Agent.

          “Eurodollar Rate” means, for any Interest Period for each Eurodollar Rate Advance
comprising part of the same Borrowing, an interest rate per annum equal to the rate per annum
obtained by dividing (a) the rate per annum (rounded upward to the nearest whole multiple of 1/100
of 1% per annum) appearing on Reuters LIBOR01 Screen (or any successor page) as the London
interbank offered rate for deposits in U.S. dollars at approximately 11:00 A.M. (London time) two
Business Days prior to the first day of such Interest Period in an amount equal to the amount of
such Eurodollar Rate Advance and for a period comparable to such Interest Period or, if for any
reason such rate is not available, the average (rounded upward to the nearest whole multiple of
1/100 of 1% per annum, if such average is not such a multiple) of the rate per annum at which
deposits in U.S. dollars are offered by the principal office of each of the Reference Banks in
London, England to prime banks in the London interbank market at 11:00 A.M. (London time) two
Business Days before the first day of such Interest Period in an amount equal to the amount of such
Eurodollar Rate Advance and for a period comparable to

8

 

such Interest Period by (b) a percentage
equal to 100% minus the Eurodollar Rate Reserve Percentage for such Interest Period. If
the Reuters LIBOR01 Screen (or any successor page) is unavailable, the Eurodollar Rate for any
Interest Period for each Eurodollar Rate Advance comprising part of the same Borrowing shall be
determined by the Agent on the basis of
applicable rates furnished to and received by the Agent from the Reference Banks two Business
Days before the first day of such Interest Period, subject, however, to the
provisions of Section 2.08.

          “Eurodollar Rate Advance” means an Advance that bears interest as provided in Section
2.07(a)(ii).

          “Eurodollar Rate Reserve Percentage” means, for any Interest Period for all Eurodollar
Rate Advances comprising part of the same Borrowing, the reserve percentage applicable two Business
Days before the first day of such Interest Period under regulations issued from time to time by the
Board (or any successor) for determining the maximum reserve requirement (including any emergency,
supplemental or other marginal reserve requirement) for a member bank of the Federal Reserve System
in New York City with respect to liabilities or assets consisting of or including Eurocurrency
Liabilities (or with respect to any other category of liabilities that includes deposits by
reference to which the interest rate on Eurodollar Rate Advances is determined) having a term equal
to such Interest Period.

          “Events of Default” has the meaning specified in Section 6.01.

          “Extending Commitments” has the meaning specified in Section 2.19(b).

          “Extending Lender” has the meaning specified in Section 2.19(a).

          “Facility” means the Revolving Credit Facility or the Letter of Credit Facility.

          “Federal Funds Rate” means, for any period, a fluctuating interest rate per annum for
each day during such period equal to the weighted average of the rates on overnight Federal funds
transactions with members of the Federal Reserve System arranged by Federal funds brokers, as
published for such day (or, if such day is not a Business Day, for the next preceding Business Day)
by the Federal Reserve Bank of New York, or, if such rate is not so published for any day that is a
Business Day, the average of the quotations for such day on such transactions received by the Agent
from three Federal funds brokers of recognized standing selected by it.

          “Fitch” means Fitch Investor’s Service, Inc.

          “Fronting Exposure” means, at any time there is a Defaulting Lender, with respect to
any Issuing Bank, such Defaulting Lender’s Ratable Share of the outstanding L/C Exposure with
respect to the Letters of Credit issued by such Issuing Bank other than the L/C Exposure as to
which such Defaulting Lender’s participation obligation has been reallocated to other Lenders or
Cash Collateralized in accordance with the terms hereof.

          “GAAP” has the meaning specified in Section 1.04.

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

          “Guarantee Obligation” means, as to any Person (the “guaranteeing person”),
any obligation, including a reimbursement, counterindemnity or similar obligation, of the
guaranteeing person that guarantees or in effect guarantees, or which is given to induce the
creation of a separate obligation by another Person (including any bank under any letter of credit)
that guarantees or in effect guarantees, any Debt, leases, dividends or other obligations (the
“primary obligations”) of any other third Person (the “primary obligor”) in any
manner, whether directly or indirectly, including any obligation of the guaranteeing person,
whether or not contingent, (i) to purchase any such primary obligation or any property constituting
direct or indirect security therefor, (ii) to advance or supply funds (1) for the purchase or
payment of any such primary obligation or (2) to maintain working capital or equity capital of the
primary obligor or otherwise to maintain the net worth or solvency of the primary obligor, (iii) to
purchase property, securities or services primarily for the purpose of assuring the owner of any
such primary obligation of the ability of the primary obligor to make payment of such primary
obligation or (iv) otherwise to assure or hold harmless the owner of any such primary obligation
against loss in respect thereof; provided, however, that the term “Guarantee
Obligation” shall not include endorsements of instruments for deposit or collection in the ordinary
course of business. The amount of any Guarantee Obligation of any guaranteeing person shall be
deemed to be the lower of (a) an amount equal to the stated or determinable amount of the primary
obligation in respect of which such Guarantee Obligation is made and (b) the maximum amount for
which such guaranteeing person may be liable pursuant to the terms of the instrument embodying such
Guarantee Obligation, unless such primary obligation and the maximum amount for which such
guaranteeing person may be liable are not stated or determinable, in which case the amount of such
Guarantee Obligation shall be such guaranteeing person’s maximum reasonably anticipated liability
in respect thereof as determined by the Borrower in good faith.

          “Hazardous Materials” means (a) petroleum and petroleum products, byproducts or
breakdown products, radioactive materials, asbestos-containing materials, polychlorinated biphenyls
and radon gas and (b) any other chemicals, materials or substances designated, classified or
regulated as hazardous or toxic or as a pollutant or contaminant under any Environmental Law.

          “Hedge Agreements” means interest rate swap, cap or collar agreements, interest rate
future or option contracts, currency swap agreements, currency future or option contracts and other
similar agreements.

          “HIPAA” means, collectively, the Health Insurance Portability and Accountability Act
of 1996, as amended, and any successor statute thereto, as interpreted by the rules and regulations
thereunder, all as the same may be in effect from time to time. References to sections of HIPAA
shall be construed also to refer to any successor sections.

10

 

          “HITECH Act” means the Health Information Technology for Economic and Clinical Health
Act, Title XIII of Division A and Title IV of Division B of the American Recovery and Reinvestment
Act of 2009 (ARRA), Pub. L. 111-5, Feb. 17, 2009, as amended, and any successor statute thereto, as
interpreted by the rules and regulations thereunder, all as the
same may be in effect from time to time. References to sections of the HITECH Act shall be
construed also to refer to any successor sections.

          “HMO” means any Person licensed as a health maintenance organization, managed care
organization or similar organization by a Governmental Authority having jurisdiction over such
Person.

          “HMO Regulations” means all requirements of law applicable to any HMO Subsidiary
(other than provisions of the organizational or governing documents of such HMO Subsidiary) under
federal or state law and any regulations, orders and directives promulgated or issued pursuant to
the foregoing, including regulations regarding total statutory capital levels.

          “HMO Regulator” means any Governmental Authority charged with administration,
oversight or enforcement of an HMO Regulation, whether primarily, secondarily or jointly.

          “HMO Subsidiary” means any Subsidiary of the Borrower that is an HMO.

          “Increase Date” has the meaning specified in Section 2.18(a).

          “Increasing and Extending Lender” has the meaning specified in Section 2.19(a).

          “Increasing Lender” has the meaning specified in Section 2.18(b).

          “Indemnified Taxes” means Taxes that arise from any payment made hereunder or under
the Notes or any other documents to be delivered hereunder or from the execution, delivery or
registration of, performing under, or otherwise with respect to, the Loan Documents.

          “Indentures” means (a) the Indenture, dated as of January 28, 2005, between the
Borrower and U.S. Bank National Association, successor to Wachovia Bank, National Association, as
trustee, in connection with the issuance of the Borrower’s 57/8 % senior notes due 2012, (b) the
Indenture, dated as of January 28, 2005, between the Borrower and U.S. Bank National Association,
successor to Wachovia Bank, National Association, as trustee, in connection with the issuance of
the Borrower’s
61/8% senior notes due 2015, and (c) the Indenture, dated as of March 20, 2007,
between the Borrower and The Bank of New York, as trustee, in connection with the issuance of the
Borrower’s 5.95% senior notes due 2017, as amended by the first supplemental indenture, dated as of
August 27, 2007, between the Borrower and Union Bank, National Association (successor to Union Bank
of California, N.A.), as trustee, in connection with the issuance of the Borrower’s 6.30% senior
notes due 2014, and as amended by the second supplemental indenture, dated as of June 7, 2011,
between the Borrower and Union Bank, National Association, as trustee, in connection with the
issuance of the Borrower’s 5.450% senior notes due 2021.

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          “Ineligible Institution” means a (a) natural person or (b) holding company, investment
vehicle or trust for, or owned and operated for the primary benefit of, a natural person or
relative(s) thereof; provided that, such holding company, investment vehicle or trust shall
not constitute an Ineligible Institution if it (x) has not been established for the primary purpose
of acquiring any Advances or Commitments, (y) is managed by a professional advisor, who is not
such natural person or a relative thereof, having significant experience in the business of
making or purchasing commercial loans, and (z) has assets greater than $25,000,000 and a
significant part of its activities consist of making or purchasing commercial loans and similar
extensions of credit in the ordinary course of its business; provided, further,
that, upon the occurrence of an Event of Default, any Person (other than a Lender) shall be an
Ineligible Institution if, after giving effect to any proposed assignment to such Person, such
Person would hold more than 25% of the then outstanding Revolving Credit Exposure or Commitments,
as the case may be.

          “Information Memorandum” means the information memorandum dated June, 2011 used by the
Agent in connection with the syndication of the Commitments.

          “Insurance Regulations” means all requirements of law applicable to any Insurance
Subsidiary (other than provisions of the organizational or governing documents of such Insurance
Subsidiary) under federal or state law and any regulations, orders and directives promulgated or
issued pursuant to the foregoing, including regulations regarding total statutory capital levels.

          “Insurance Regulator” means any Governmental Authority charged with the
administration, oversight or enforcement of an Insurance Regulation, whether primarily, secondarily
or jointly.

          “Insurance Subsidiary” means any Subsidiary of the Borrower that is doing business or
is licensed under Insurance Regulations to offer and sell health, dental and life insurance (or
required to so qualify or to be so licensed).

          “Interest Period” means, for each Eurodollar Rate Advance comprising part of the same
Borrowing, the period commencing on the date of such Eurodollar Rate Advance or the date of the
Conversion of a Base Rate Advance into such Eurodollar Rate Advance and ending on the last day of
the period selected by the Borrower pursuant to the provisions below and, thereafter, each
subsequent period commencing on the last day of the immediately preceding Interest Period and
ending on the last day of the period selected by the Borrower pursuant to the provisions below.
The duration of each such Interest Period shall be one, two, three or six months, and subject to
clause (c) of this definition, nine or twelve months, as the Borrower may, upon notice received by
the Agent not later than 11:00 A.M. (New York City time) on the third Business Day prior to the
first day of such Interest Period, select; provided, however, that:

          (a) the Borrower may not select any Interest Period with respect to any Eurodollar Rate
Advance under a Facility that ends after any scheduled principal repayment installment date for
such Facility unless, after giving effect to such selection, the aggregate principal amount of Base
Rate Advances and of Eurodollar Rate Advances having Interest Periods that end on or prior to such
principal repayment installment date for such Facility shall

12

 

be at least equal to the aggregate
principal amount of Advances under such Facility due and payable on or prior to such date;

          (b) Interest Periods commencing on the same date for Eurodollar Rate Advances comprising part
of the same Borrowing shall be of the same duration;

          (c) the Borrower shall not be entitled to select an Interest Period having duration of nine or
twelve months unless, by 2:00 P.M. (New York City time) on the second Business Day prior to the
first day of such Interest Period, each Lender has notified the Agent of such Lender’s approval of
such Interest Period (the failure of any Lender to so respond by such time being deemed for all
purposes of this Agreement as an objection by such Lender to the requested duration of such
Interest Period); provided that, if any or all of the Lenders object to the requested
duration of such Interest Period, the duration of such Interest Period shall be one, two, three or
six months, as specified by the Borrower in the applicable Notice of Borrowing or notice of
Conversion as the desired alternative to an Interest Period of nine or twelve months;

          (d) whenever the last day of any Interest Period would otherwise occur on a day other than a
Business Day, the last day of such Interest Period shall be extended to occur on the next
succeeding Business Day; provided, however, that, if such extension would cause the
last day of such Interest Period to occur in the next following calendar month, the last day of
such Interest Period shall occur on the next preceding Business Day; and

          (e) whenever the first day of any Interest Period occurs on a day of an initial calendar month
for which there is no numerically corresponding day in the calendar month that succeeds such
initial calendar month by the number of months equal to the number of months in such Interest
Period, such Interest Period shall end on the last Business Day of such succeeding calendar month.

          “Internal Revenue Code” means the Internal Revenue Code of 1986, as amended from time
to time, and the regulations promulgated and rulings issued thereunder.

          “Issuing Bank” means an Initial Issuing Bank or any Lender designated as an “Issuing
Bank” hereunder by written notice to such effect to the Agent by the Borrower and such Lender so
long as such Lender expressly agrees to perform in accordance with their terms all of the
obligations that by the terms of this Agreement are required to be performed by it as an Issuing
Bank and notifies the Agent of its Applicable Lending Office (which information shall be recorded
by the Agent in the Register), and their respective successors as Issuing Banks hereunder.

          “L/C Cash Collateral Account” means an interest-bearing cash collateral account to be
established and maintained by the Agent, over which the Agent shall have sole dominion and control,
upon terms as may be satisfactory to the Agent.

          “L/C Disbursement” means a payment made by an Issuing Bank pursuant to a Letter of
Credit.

          “L/C Exposure” means, at any time, the sum of (a) the aggregate undrawn amount of all
outstanding Letters of Credit at such time plus (b) the aggregate amount of all L/C

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Disbursements that have not yet been reimbursed by or on behalf of the Borrower at such time
(through Advances or otherwise). The L/C Exposure of any Lender at any time shall be its Ratable
Share of the total L/C Exposure at such time.

          “L/C Related Documents” has the meaning specified in Section 2.06(b)(i).

          “Lenders” means the Initial Lenders, each Issuing Bank, each Assuming Lender that
shall become a party hereto pursuant to Section 2.18, each New Lender that shall become a party
hereto pursuant to Section 2.19 and each Person that shall become a party hereto pursuant to
Section 8.07.

          “Letter of Credit” has the meaning specified in Section 2.01(b).

          “Letter of Credit Agreement” has the meaning specified in Section 2.03(a).

          “Letter of Credit Commitment” means, with respect to each Issuing Bank, the obligation
of such Issuing Bank to issue Letters of Credit for the account of the Borrower and their specified
Subsidiaries in (a) the amount set forth opposite such Issuing Bank’s name on Schedule I
hereto or (b) in the notice designating such Issuing Bank as an Issuing Bank hereunder, in each
case as such amount may be reduced prior to such time pursuant to Section 2.05 and from time to
time by the Available Amount of any outstanding Letter of Credit issued by any other Issuing Bank.

          “Letter of Credit Facility” means, at any time, an amount equal to the lesser of (a)
the aggregate amount of the Issuing Banks’ Letter of Credit Commitments at such time and (b)
$100,000,000, as such amount may be reduced at or prior to such time pursuant to Section 2.05.

          “Letter of Credit Fee” has the meaning specified in Section 2.04(b).

          “Lien” means any lien, security interest or other charge or encumbrance of any kind,
or any other type of preferential arrangement, including the lien or retained security title of a
conditional vendor and any encumbrance on title to real property that secures debt.

          “Loan Documents” means, collectively, this Agreement, the Notes and each certificate,
agreement or document executed by the Borrower and delivered to the Agent or any Lender in
connection with the foregoing.

          “Material Adverse Change” means any material adverse change in the business, financial
condition or results of operations of the Borrower and its Subsidiaries, taken as a whole.

          “Material Adverse Effect” means a material adverse effect on (a) the business,
financial condition or results of operations of the Borrower and its Subsidiaries, taken as a
whole, or (b) the rights and remedies of the Agent or the Lenders under the Loan Documents.

          “Material HMO Subsidiary” means any HMO Subsidiary that is also a Material Subsidiary.

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          “Material Insurance Subsidiary” means any Insurance Subsidiary that is also a Material
Subsidiary.

          “Material Subsidiary” means, at any date, a Subsidiary of the Borrower having (a)
assets in an amount equal to at least 5% of the amount of total Consolidated assets of the Borrower
and its Subsidiaries as of the last day of the most recent fiscal quarter of the Borrower
for which financial statements of the Borrower have been furnished pursuant to Section 5.01(i)
or (b) revenues in an amount equal to at least 5% of the amount of total Consolidated revenues of
the Borrower and its Subsidiaries for the twelve-month period ending on such date.

          “Medicaid Regulations” means, collectively, (a) all federal statutes (whether set
forth in Title XIX of the Social Security Act or elsewhere) affecting the medical assistance
program established by said Title XIX, (b) all applicable provisions of all federal rules
promulgated pursuant to or in connection with the statutes described in clause (a) above and all
federal administrative, reimbursement and other guidelines of all governmental authorities having
the force of law promulgated pursuant to or in connection with the statutes described in clause (a)
above, (c) all state statutes and plans for medical assistance enacted in connection with the
statutes and provisions described in clauses (a) and (b) above and (d) all applicable provisions of
all rules, regulations, manuals and orders of all governmental authorities promulgated pursuant to
or in connection with the statutes described in clause (c) above and all state administrative,
reimbursement and other guidelines of all governmental authorities having the force of law
promulgated pursuant to or in connection with the statutes described in clause (b) above.

          “Minimum Collateral Amount” means, at any time, with respect to Cash Collateral
consisting of cash or deposit account balances, an amount equal to 102% of the Fronting Exposure of
all Issuing Banks with respect to Letters of Credit issued and outstanding at such time.

          “Moody’s” means Moody’s Investors Service, Inc.

          “Multiemployer Plan” means a multiemployer plan, as defined in Section 4001(a)(3) of
ERISA, to which the Borrower or any ERISA Affiliate is making or accruing an obligation to make
contributions, or has within any of the preceding five plan years made or accrued an obligation to
make contributions.

          “Multiple Employer Plan” means a single employer plan, as defined in Section
4001(a)(15) of ERISA, that (a) is maintained for employees of the Borrower or any ERISA Affiliate
and at least one Person other than the Borrower and the ERISA Affiliates or (b) was so maintained
and in respect of which the Borrower or any ERISA Affiliate could have liability under Section 4064
or 4069 of ERISA in the event such plan has been or were to be terminated.

          “New Lenders” means, for purposes of Section 2.19, an Assignee, approved by the Agent
(which approval shall not be unreasonably withheld), that the Borrower has requested to become a
Lender hereunder pursuant to Section 2.19(c).

          “New Termination Date” has the meaning specified in Section 2.19(a).

15

 

          “Non-Defaulting Lender” means, at any time, each Lender that is not a Defaulting
Lender at such time.

          “Non-Extending Lender” has the meaning specified in Section 2.19(a).

          “Note” means a promissory note of the Borrower payable to the order of a Lender,
delivered pursuant to a request made under Section 2.16 in substantially the form of Exhibit
A hereto, evidencing the aggregate indebtedness of the Borrower to such Lender resulting from
the Advances made by such Lender.

          “Notice” has the meaning specified in Section 8.02(c).

          “Notice of Borrowing” has the meaning specified in Section 2.02(a).

          “Notice of Issuance” has the meaning specified in Section 2.03(a).

          “OFAC” means the U.S. Department of Treasury’s Office of Foreign Assets Control.

          “Other Taxes” has the meaning specified in Section 2.14(b).

          “Patriot Act” means the Uniting and Strengthening America by Providing Appropriate
Tools Required to Intercept and Obstruct Terrorism Act of 2001, Pub. L. 107-56, signed into law
October 26, 2001.

          “PBGC” means the Pension Benefit Guaranty Corporation (or any successor).

          “Person” means an individual, partnership, corporation (including a business trust),
joint stock company, trust, unincorporated association, joint venture, limited liability company or
other entity, or a government or any political subdivision or agency thereof.

          “Plan” means a Single Employer Plan or a Multiple Employer Plan.

          “Platform” has the meaning specified in Section 8.02(b).

          “Prior Facility” means that certain Credit Agreement, dated as of July 11, 2007, by
and among the Borrower, the Initial Lenders, the Initial Issuing Banks, certain other lenders party
thereto and Citibank, N.A., as Agent (as such terms are defined therein).

          “Proposed Additional Commitment” has the meaning specified in Section 2.19(a).

          “Public Debt Rating” means, as of any date, the rating that has been most recently
announced by S&P, Moody’s or Fitch, as the case may be, for any class of non-credit-enhanced
long-term senior unsecured debt issued by the Borrower or, if any such rating agency shall have
issued more than one such rating, the lowest such rating issued by such rating agency (but not
lower than the rating, if any, assigned to the Facilities by such agency). For purposes of the
foregoing, (a) if only one of S&P, Moody’s and Fitch shall have in effect a Public Debt Rating, the
Applicable Margin and the Applicable Percentage shall be determined by reference to the

16

 

available rating; (b) if none of S&P, Moody’s or Fitch shall have in effect a Public Debt
Rating, the Applicable Margin and the Applicable Percentage will be set in accordance with Level 5
under the definition of “Applicable Margin” or “Applicable Percentage”, as the case
may be; (c) if the ratings established by S&P, Moody’s and Fitch shall each fall within different
levels, the Applicable Margin and the Applicable Percentage shall be based upon the middle rating;
(d) if the ratings established by S&P, Moody’s and Fitch shall fall within different levels and two
of such ratings fall within the same level (the “majority level”), the Applicable Margin
and Applicable Percentage shall be based on the majority level; (e) if any rating established by
S&P, Moody’s or Fitch shall be changed, such change shall be effective as of the date on which such
change is first announced publicly by the rating agency making such change; and (f) if S&P, Moody’s
or Fitch shall change the basis on which ratings are established, each reference herein to the
Public Debt Rating announced by S&P, Moody’s or Fitch, as the case may be, shall refer to the then
equivalent rating by S&P, Moody’s or Fitch, as the case may be.

          “Ratable Share” of any amount means, with respect to any Lender at any time, the
product of (a) a fraction the numerator of which is the amount of such Lender’s Revolving Credit
Commitment at such time and the denominator of which is the aggregate Revolving Credit Commitments
at such time and (b) such amount.

          “Reference Banks” means JPMCB, Citibank, N.A. and Bank of America, N.A.

          “Register” has the meaning specified in Section 8.07(e).

          “Required Lenders” means at any time Lenders owed or holding at least a majority in
interest of the sum of (a) the aggregate principal amount of the Advances outstanding at such time,
(b) the aggregate Available Amount of all Letters of Credit outstanding at such time and (c) the
aggregate Unused Revolving Credit Commitments at such time. For purposes of this definition, the
Available Amount of each Letter of Credit shall be considered to be owed to the Lenders ratably in
accordance with their respective Revolving Credit Commitments.

          “Responsible Officer” means the Chief Executive Officer, President, Chief Financial
Officer, Senior Vice President of Finance or Treasurer of the Borrower, but in any event, with
respect to financial matters, the Chief Financial Officer, Senior Vice President of Finance or
Treasurer of the Borrower.

          “Revolving Credit Commitment” means, as to any Lender, (a) the amount set forth
opposite such Lender’s name on Schedule I hereto as such Lender’s “Revolving Credit
Commitment”, (b) if such Lender has become a Lender hereunder pursuant to an Assumption Agreement,
the amount set forth as such Lender’s “Revolving Credit Commitment” in such Assumption Agreement or
(c) if such Lender has entered into any Assignment and Acceptance, the amount set forth as such
Lender’s “Revolving Credit Commitment” in the Register maintained by the Agent pursuant to Section
8.07(e), as such amount may be reduced pursuant to Section 2.05. The aggregate amount of the
Revolving Credit Commitments on the Effective Date is $750,000,000.

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          “Revolving Credit Exposure” means, with respect to any Lender at any time, the sum of
the outstanding principal amount of all Advances made by such Lender (in its capacity as a Lender)
and its L/C Exposure at such time.

          “Revolving Credit Facility” means, at any time, the aggregate amount of the Lenders’
Revolving Credit Commitments at such time.

          “S&P” means Standard & Poor’s Ratings Service, a division of The McGraw-Hill
Companies, Inc.

          “Single Employer Plan” means a single employer plan, as defined in Section 4001(a)(15)
of ERISA, that (a) is maintained for employees of the Borrower or any ERISA Affiliate and no Person
other than the Borrower and the ERISA Affiliates or (b) was so maintained and in respect of which
the Borrower or any ERISA Affiliate could have liability under Section 4069 of ERISA in the event
such plan has been or were to be terminated.

          “Subsidiary” of any Person means any corporation, partnership, joint venture, limited
liability company, trust or estate of which (or in which) more than 50% of (a) the issued and
outstanding capital stock having ordinary voting power to elect a majority of the board of
directors of such corporation (irrespective of whether at the time capital stock of any other class
or classes of such corporation shall or might have voting power upon the occurrence of any
contingency), (b) the interest in the capital or profits of such limited liability company,
partnership or joint venture or (c) the beneficial interest in such trust or estate is at the time
directly or indirectly owned or controlled by such Person, by such Person and one or more of its
other Subsidiaries or by one or more of such Person’s other Subsidiaries. Unless otherwise
qualified, all references in this Agreement to a “Subsidiary” or “Subsidiaries” shall refer to a
Subsidiary of the Borrower.

          “Taxes” has the meaning specified in Section 2.14(a).

          “Termination Date” means, for any Lender, the earlier of (a) June 22, 2016, subject to
extension as provided in Section 2.19, and (b) the date of termination in whole of the Commitments
pursuant to Section 2.05 or 6.01.

          “Unissued Letter of Credit Commitment” means, with respect to any Issuing Bank, the
obligation of such Issuing Bank to issue Letters of Credit for the account of the Borrower or its
specified Subsidiaries in an amount equal to the excess of (a) the amount of its Letter of Credit
Commitment over (b) the aggregate Available Amount of all Letters of Credit issued by such Issuing
Bank.

          “Unused Revolving Credit Commitment” means, with respect to each Lender at any time,
(a) such Lender’s Revolving Credit Commitment at such time minus (b) the sum of (i) the
aggregate principal amount of all Advances made by such Lender (in its capacity as a Lender) and
outstanding at such time, plus (ii) such Lender’s Ratable Share of the aggregate Available
Amount of all the Letters of Credit outstanding at such time.

          “Voting Stock” means capital stock issued by a corporation, or equivalent interests in
any other Person, the holders of which are ordinarily, in the absence of contingencies,

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entitled to vote for the election of directors (or persons performing similar functions) of
such Person, even if the right so to vote has been suspended by the happening of such a
contingency.

          SECTION 1.02. Terms Generally. With reference to this Agreement and each other Loan
Document, unless otherwise specified herein or in such other Loan Document:

The definitions of terms herein and therein shall apply equally to the singular and plural forms of
the terms defined. Whenever the context may require, any pronoun shall include the corresponding
masculine, feminine and neuter forms. The words “include”, “includes” and “including” shall be
deemed to be followed by the phrase “without limitation”. The word “will” shall be construed to
have the same meaning and effect as the word “shall”. Unless the context requires otherwise, (a)
any definition of or reference to any agreement, instrument or other document herein shall be
construed as referring to such agreement, instrument or other document as from time to time
amended, supplemented or otherwise modified (subject to any restrictions on such amendments,
supplements or modifications set forth herein); (b) any reference herein to any Person shall be
construed to include such Person’s successors and assigns; (c) the words “herein”, “hereof” and
“hereunder”, and words of similar import, shall be construed to refer to this Agreement in its
entirety and not to any particular provision hereof; (d) all references in a Loan Document to
Articles, Sections, Exhibits and Schedules shall be construed to refer to Articles and Sections of,
and Exhibits and Schedules to, the Loan Document in which such references appear; and (e) the words
“asset” and “property” shall be construed to have the same meaning and effect and to refer to any
and all tangible and intangible assets and properties, including cash, securities, accounts and
contract rights.

          SECTION 1.03. Computation of Time Periods. In this Agreement in the computation of
periods of time from a specified date to a later specified date, the word “from” means “from and
including” and the words “to” and “until” each mean “to but excluding”.

          SECTION 1.04. Accounting Terms. All accounting terms not specifically defined herein
shall be construed in accordance with generally accepted accounting principles consistent with
those applied in the preparation of the financial statements referred to in Section 4.01(e)
(“GAAP”). In the event that any Accounting Change (as defined below) shall occur and such
change results in a change in the method of calculation of financial covenants, standards or terms
in this Agreement, then the Borrower and the Agent agree to enter into good faith negotiations in
order to amend such provisions of this Agreement so as to reflect equitably such Accounting Changes
with the desired result that the criteria for evaluating the Borrower’s financial condition shall
be the same after such Accounting Changes as if such Accounting Changes had not been made. Until
such time as such an amendment shall have been executed and delivered by the Borrower, the Agent
and the Required Lenders, all financial covenants, standards and terms in this Agreement shall
continue to be calculated or construed as if such Accounting Changes had not occurred.
“Accounting Changes” refers to changes in accounting principles required by the
promulgation of any rule, regulation, pronouncement or opinion by the Financial Accounting
Standards Board of the American Institute of Certified Public Accountants or, if applicable, the
Securities and Exchange Commission.

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ARTICLE II

AMOUNTS AND TERMS OF THE ADVANCES AND LETTERS OF CREDIT

          SECTION 2.01. The Advances and Letters of Credit. (a) Advances. Each Lender
severally agrees, on the terms and conditions hereinafter set forth, to make Advances to the
Borrower from time to time on any Business Day during the period from the Effective Date until the
Termination Date in an amount not to exceed at any time such Lender’s Unused Revolving Credit
Commitment. Each Borrowing shall be in an aggregate amount of $10,000,000 or an integral multiple
of $1,000,000 in excess thereof and shall consist of Advances of the same Type made on the same day
by the Lenders ratably according to their respective Revolving Credit Commitments. Within the
limits of each Lender’s Revolving Credit Commitment, the Borrower may borrow under this Section
2.01(a), prepay pursuant to Section 2.10 and reborrow under this Section 2.01(a).

          (b) Letters of Credit. Each Issuing Bank agrees, on the terms and conditions
hereinafter set forth, to issue letters of credit (each, a “Letter of Credit”) for the
support of the Borrower’s or its Subsidiaries’ obligations from time to time on any Business Day
during the period from the Effective Date until 30 days before the Termination Date in an aggregate
Available Amount (i) for all Letters of Credit issued by each Issuing Bank not to exceed at any
time the lesser of (x) the Letter of Credit Facility at such time and (y) such Issuing Bank’s
Letter of Credit Commitment at such time and (ii) for each such Letter of Credit not to exceed an
amount equal to the aggregate Unused Revolving Credit Commitments of the Lenders at such time.
Each Letter of Credit shall be for an amount of $50,000 or more. No Letter of Credit shall have an
expiration date (including all rights of the Borrower or the beneficiary to require renewal) later
than the earlier of (x) the date that is one year after the date of issuance thereof;
provided that any Letter of Credit which provides for automatic one-year extension(s) of
such expiration date shall be deemed to comply with the foregoing requirement if the Issuing Bank
has the unconditional right to prevent any such automatic extension from taking place and each
Issuing Bank hereby agrees to exercise such right to the extent necessary to prevent any such
Letter of Credit from being outstanding after the Termination Date or (y) five Business Days prior
to the Termination Date. Within the limits referred to above, the Borrower may request the
issuance of Letters of Credit under this Section 2.01(b), repay any Advances resulting from
drawings thereunder pursuant to Section 2.03(c) and request the issuance of additional Letters of
Credit under this Section 2.01(b). Each letter of credit listed on Schedule 2.01(b) shall
be deemed to constitute a Letter of Credit issued hereunder, and each Lender or each Affiliate of a
Lender that is an issuer of such a Letter of Credit shall, for purposes of Section 2.03, be deemed
to be an Issuing Bank for each such letter of credit; provided that any renewal or
replacement of any such letter of credit shall be issued by an Issuing Bank pursuant to the terms
of this Agreement.

          SECTION 2.02. Making the Advances. (a) Except as otherwise provided in Section
2.03(c), each Borrowing shall be made on notice, given not later than (x) 12:00 Noon (New York City
time) on the third Business Day prior to the date of the proposed Borrowing in the case of a
Borrowing consisting of Eurodollar Rate Advances or (y) 10:00 A.M. (New York City time) on the date
of the proposed Borrowing in the case of a Borrowing consisting of Base Rate Advances, by the
Borrower to the Agent, which shall give each Lender prompt notice

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thereof by telecopier or other form of electronic communication satisfactory to the Agent.
Each such notice of a Borrowing (a “Notice of Borrowing”) shall be by telephone, confirmed
immediately in writing or by telecopier or other form of electronic communication satisfactory to
the Agent in substantially the form of Exhibit B hereto, specifying therein the requested
(i) date of such Borrowing, (ii) Type of Advances comprising such Borrowing, (iii) aggregate amount
of such Borrowing, and (iv) in the case of a Borrowing consisting of Eurodollar Rate Advances,
initial Interest Period for each such Advance. Each Lender shall, before 12:00 Noon (New York City
time) on the date of such Borrowing, make available for the account of its Applicable Lending
Office to the Agent at the Agent’s Account, in same day funds, such Lender’s ratable portion of
such Borrowing. After the Agent’s receipt of such funds and upon fulfillment of the applicable
conditions set forth in Article III, the Agent will make such funds available to the Borrower at
the Agent’s address referred to in Section 8.02.

          (b) Anything in subsection (a) above to the contrary notwithstanding, (i) the Borrower may not
select Eurodollar Rate Advances for any Borrowing if the aggregate amount of such Borrowing is less
than $10,000,000 or if the obligation of the Lenders to make Eurodollar Rate Advances shall then be
suspended pursuant to Section 2.08 or 2.12 and (ii) the Eurodollar Rate Advances may not be
outstanding as part of more than seven separate Borrowings.

          (c) Each Notice of Borrowing shall be irrevocable and binding on the Borrower. In the case of
any Borrowing that the related Notice of Borrowing specifies is to be comprised of Eurodollar Rate
Advances, the Borrower shall indemnify each Lender against any loss, cost or expense incurred by
such Lender as a result of any failure to fulfill on or before the date specified in such Notice of
Borrowing for such Borrowing the applicable conditions set forth in Article III, including any loss
(including loss of anticipated profits), cost or expense incurred by reason of the liquidation or
reemployment of deposits or other funds acquired by such Lender to fund the Advance to be made by
such Lender as part of such Borrowing when such Advance, as a result of such failure, is not made
on such date.

          (d) Unless the Agent shall have received notice from a Lender prior to the time of any
Borrowing under a Facility under which such Lender has a Commitment that such Lender will not make
available to the Agent such Lender’s ratable portion of such Borrowing, the Agent may assume that
such Lender has made such portion available to the Agent on the date of such Borrowing in
accordance with subsection (a) of this Section 2.02, and the Agent may, in reliance upon such
assumption, make available to the Borrower on such date a corresponding amount. If and to the
extent that such Lender shall not have so made such portion available to the Agent, such Lender and
the Borrower severally agree to repay to the Agent forthwith on demand such corresponding amount
together with interest thereon, for each day from the date such amount is made available to the
Borrower until the date such amount is repaid to the Agent, at (i) in the case of the Borrower, the
interest rate applicable at the time to Advances comprising such Borrowing and (ii) in the case of
such Lender, the Federal Funds Rate. If such Lender shall repay to the Agent such corresponding
amount, such amount so repaid shall constitute such Lender’s Advance as part of such Borrowing for
purposes of this Agreement.

          (e) The failure of any Lender to make the Advance to be made by it as part of any Borrowing
shall not relieve any other Lender of its obligation, if any, hereunder to make its

21

 

Advance on the date of such Borrowing, but no Lender shall be responsible for the failure of
any other Lender to make the Advance to be made by such other Lender on the date of any Borrowing.

          SECTION 2.03. Issuance of and Drawings and Reimbursement Under Letters of Credit. (a)
Request for Issuance. (i) Each Letter of Credit shall be issued upon notice, given not
later than 1:00 P.M. (New York City time) on the fifth Business Day prior to the date of the
proposed issuance of such Letter of Credit (or on such shorter notice as the applicable Issuing
Bank may agree), by the Borrower to any Issuing Bank, and such Issuing Bank shall give the Agent
prompt notice thereof by telecopier or other form of electronic communication satisfactory to the
Agent. Each such notice of issuance of a Letter of Credit (a “Notice of Issuance”) shall
be by telephone, confirmed immediately in writing or by telecopier or other form of electronic
communication satisfactory to the Issuing Bank, specifying therein the requested (A) date of such
issuance (which shall be a Business Day), (B) Available Amount of such Letter of Credit, (C)
expiration date of such Letter of Credit (which shall not be later than the earlier of five
Business Days prior to the Termination Date or one year after the date of issuance thereof;
provided that any Letter of Credit which provides for automatic one-year extension(s) of
such expiration date shall be deemed to comply with the foregoing requirement if the Issuing Bank
has the unconditional right to prevent any such automatic extension from taking place and each
Issuing Bank hereby agrees to exercise such right to the extent necessary to prevent any such
Letter of Credit from being outstanding after the Termination Date), (D) name and address of the
beneficiary of such Letter of Credit and (E) form of such Letter of Credit, and shall be
accompanied by such customary application and agreement for letter of credit as such Issuing Bank
may specify to the Borrower for use in connection with such requested Letter of Credit (a
“Letter of Credit Agreement”). If the requested form of such Letter of Credit is
acceptable to such Issuing Bank in its sole discretion, such Issuing Bank will, upon fulfillment of
the applicable conditions set forth in Article III, make such Letter of Credit available to the
Borrower at its office referred to in Section 8.02 or as otherwise agreed with the Borrower in
connection with such issuance. In the event and to the extent that the provisions of any Letter of
Credit Agreement shall conflict with this Agreement, the provisions of this Agreement shall govern.

          (b) Participations. By the issuance of a Letter of Credit (or an amendment to a
Letter of Credit increasing the amount thereof) and without any further action on the part of the
applicable Issuing Bank or the Lenders, such Issuing Bank hereby grants to each Lender, and each
Lender hereby acquires from such Issuing Bank, a participation in such Letter of Credit equal to
such Lender’s Ratable Share of the Available Amount of such Letter of Credit. The Borrower hereby
agrees to each such participation. Each Lender acknowledges and agrees that its obligation to
acquire participations pursuant to this paragraph in respect of Letters of Credit is absolute and
unconditional and shall not be affected by any circumstance whatsoever, including any amendment,
renewal or extension of any Letter of Credit or the occurrence and continuance of a Default or
reduction or termination of the Revolving Credit Commitments, and that each such payment shall be
made without any offset, abatement, withholding or reduction whatsoever. Each Lender further
acknowledges and agrees that its participation in each Letter of Credit will be automatically
adjusted to reflect such Lender’s Ratable Share of the Available Amount of such Letter of Credit at
each time such Lender’s Revolving Credit Commitment is amended

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pursuant to the operation of Section 2.18, by an assignment in accordance with Section 8.07 or
otherwise pursuant to this Agreement.

          (c) Drawing and Reimbursement. The payment by an Issuing Bank of a draft drawn under
any Letter of Credit shall constitute for all purposes of this Agreement the making by such Issuing
Bank of an Advance, which shall be a Base Rate Advance, in the amount of such draft. Each Issuing
Bank shall give prompt notice (and such Issuing Bank will use its commercially reasonable efforts
to deliver such notice within one Business Day) to the Borrower and the Agent of each drawing under
any Letter of Credit issued by it. Upon written demand by such Issuing Bank, with a copy of such
demand to the Agent, each Lender shall pay to the Agent such Lender’s Ratable Share of such
outstanding Advance, by making available for the account of its Applicable Lending Office to the
Agent for the account of such Issuing Bank, by deposit to the Agent’s Account, in same day funds,
an amount equal to the portion of the outstanding principal amount of such Advance to be funded by
such Lender. Promptly after receipt thereof, the Agent shall transfer such funds to such Issuing
Bank. Each Lender agrees to fund its Ratable Share of such outstanding Advance on (i) the Business
Day on which demand therefor is made by such Issuing Bank, provided that notice of such
demand is given not later than 11:00 A.M. (New York City time) on such Business Day, or (ii) the
first Business Day next succeeding such demand if notice of such demand is given after such time.
If and to the extent that any Lender shall not have so made the amount of such Advance available to
the Agent, such Lender agrees to pay to the Agent forthwith on demand such amount together with
interest thereon, for each day from the date of demand by any such Issuing Bank until the date such
amount is paid to the Agent, at the Federal Funds Rate for its account or the account of such
Issuing Bank, as applicable. If such Lender shall pay to the Agent such amount for the account of
any such Issuing Bank on any Business Day, such amount so paid in respect of principal shall
constitute an Advance made by such Lender on such Business Day for purposes of this Agreement, and
the outstanding principal amount of the Advance made by such Issuing Bank shall be reduced by such
amount on such Business Day.

          (d) Letter of Credit Reports. Each Issuing Bank shall furnish (i) to the Agent on the
first Business Day of each month a written report summarizing issuance and expiration dates of
Letters of Credit issued by it during the preceding month and drawings during such month under all
Letters of Credit and (ii) to the Agent and each Lender on the first Business Day of each calendar
quarter a written report setting forth the average daily aggregate Available Amount during the
preceding calendar quarter of all Letters of Credit issued by it.

          (e) Failure to Make Advances. The failure of any Lender to make the Advance to be
made by it on the date specified in Section 2.03(c) shall not relieve any other Lender of its
obligation hereunder to make its Advance on such date, but no Lender shall be responsible for the
failure of any other Lender to make the Advance to be made by such other Lender on such date.

          (f) Applicability of ISP and UCP. Unless otherwise expressly agreed by the Issuing
Bank and the Borrower when a Letter of Credit is issued, (i) the rules of the International Standby
Practices (1998 Revision) International Chamber of Commerce Publication No. 590 shall apply to each
standby Letter of Credit, and (ii) the rules of the Uniform Customs and

23

 

Practice for Documentary Credits, as most recently published by the International Chamber of
Commerce at the time of issuance, shall apply to each commercial Letter of Credit.

          (g) Letters of Credit Issued for Subsidiaries. Notwithstanding that a Letter of
Credit issued or outstanding hereunder is in support of any obligations of, or is for the account
of, a Subsidiary, the Borrower shall be obligated to reimburse the applicable Issuing Bank
hereunder for any and all drawings under such Letter of Credit. The Borrower hereby acknowledges
that the issuance of Letters of Credit for the account of Subsidiaries inures to the benefit of the
Borrower and that the Borrower’s business derives substantial benefits from the businesses of such
Subsidiaries.

          SECTION 2.04. Fees. (a) Facility Fee. The Borrower agrees to pay to the
Agent for the account of each Lender a facility fee on the average daily amount of such Lender’s
Revolving Credit Commitment (whether used or unused) from the date hereof in the case of each
Initial Lender and from the effective date specified in the Assumption Agreement or in the
Assignment and Acceptance pursuant to which it became a Lender in the case of each other Lender
until the Termination Date at a rate per annum equal to the Applicable Percentage in effect from
time to time, payable in arrears quarterly on the last day of each March, June, September and
December, commencing June 30, 2011, and on the Termination Date.

          (b) Letter of Credit Fees. (i) The Borrower shall pay to the Agent for the account
of each Lender a commission (the “Letter of Credit Fee”) on such Lender’s Ratable Share of
the average daily aggregate Available Amount of all Letters of Credit outstanding from time to time
at a rate per annum equal to the Applicable Margin for Eurodollar Rate Advances in effect from time
to time, payable in arrears quarterly on the last day of each March, June, September and December,
commencing June 30, 2011, and on the Termination Date, and after the Termination Date, payable upon
demand; provided that the Applicable Margin shall increase by 2% upon the occurrence and
during the continuation of an Event of Default if the Borrower is required to pay default interest
pursuant to Section 2.07(b).

     (ii) The Borrower shall pay to each Issuing Bank for its own account such reasonable
and customary fronting, issuance, presentation, amendment and other processing fees as may
from time to time be agreed in writing between the Borrower and such Issuing Bank.

          (c) Agent’s Fees. The Borrower shall pay to the Agent for its own account such fees
as have been agreed between the Borrower and the Agent.

          SECTION 2.05. Optional Termination or Reduction of the Commitments. (a) The Borrower
shall have the right, upon at least three Business Days’ notice to the Agent, to terminate in whole
or permanently reduce ratably in part the Unused Revolving Credit Commitments or the Unissued
Letter of Credit Commitments; provided that each partial reduction of a Facility (i) shall
be in the aggregate amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof
and (ii) with respect to the Revolving Credit Facility, shall be made ratably among the Lenders in
accordance with their Commitments.

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          (b) The Borrower may terminate the unused amount of the Commitment of any Lender that is a
Defaulting Lender upon not less than five Business Days’ prior notice to the Agent (which shall
promptly notify the Lenders thereof), and in such event the provisions of Section 2.20(a)(ii) will
apply to all amounts thereafter paid by the Borrower for the account of such Defaulting Lender
under this Agreement (whether on account of principal, interest, fees, indemnity or other amounts);
provided that (i) no Event of Default shall have occurred and be continuing, and (ii) such
termination shall not be deemed to be a waiver or release of any claim the Borrower, the Agent, any
Issuing Bank or any Lender may have against such Defaulting Lender.

          SECTION 2.06. Repayment. (a) Advances. The Borrower shall repay to the
Agent for the ratable account of the Lenders on the Termination Date the aggregate principal amount
of the Advances then outstanding.

          (b) Letter of Credit Reimbursements. Without limiting Section 8.12 hereof, it is
understood and agreed that the obligations of the Borrower under this Agreement, any Letter of
Credit Agreement and any other agreement or instrument relating to any Letter of Credit shall be
unconditional and irrevocable, and shall be paid strictly in accordance with the terms of this
Agreement, such Letter of Credit Agreement and such other agreement or instrument under all
circumstances, including the following circumstances (it being understood that any such payment by
the Borrower is without prejudice to, and does not constitute a waiver of, any rights the Borrower
might have or might acquire as a result of the payment by any Lender of any draft or the
reimbursement by the Borrower thereof):

     (i) any lack of validity or enforceability of this Agreement, any Letter of Credit, any
Letter of Credit Agreement or any other agreement or instrument, in each case, relating
thereto (all of the foregoing being, collectively, the “L/C Related Documents”);

     (ii) any change in the time, manner or place of payment of, or in any other term of,
all or any of the obligations of the Borrower in respect of any L/C Related Document or any
other amendment or waiver of or any consent to departure from all or any of the L/C Related
Documents;

     (iii) the existence of any claim, set-off, defense or other right that the Borrower may
have at any time against any beneficiary or any transferee of a Letter of Credit (or any
Persons for which any such beneficiary or any such transferee may be acting), any Issuing
Bank, the Agent, any Lender or any other Person, whether in connection with the transactions
contemplated by the L/C Related Documents or any unrelated transaction;

     (iv) any statement or any other document presented under a Letter of Credit proving to
be forged, fraudulent, invalid or insufficient in any respect or any statement therein being
untrue or inaccurate in any respect;

     (v) payment by any Issuing Bank under a Letter of Credit against presentation of a
draft or certificate that does not strictly comply with the terms of such Letter of Credit;

25

 

     (vi) any exchange, release or non-perfection of any collateral, or any release or
amendment or waiver of or consent to departure from any guarantee, for all or any of the
obligations of the Borrower in respect of the L/C Related Documents; or

     (vii) any other circumstance or happening whatsoever, whether or not similar to any of
the foregoing, including any other circumstance that might otherwise constitute a defense
available to, or a discharge of, the Borrower or a guarantor.

          SECTION 2.07. Interest on Advances. (a) Scheduled Interest. The Borrower
shall pay interest on the unpaid principal amount of each Advance owing to each Lender from the
date of such Advance until such principal amount shall be paid in full, at the following rates per
annum:

     (i) Base Rate Advances. During such periods as such Advance is a Base Rate
Advance, a rate per annum equal at all times to the Base Rate in effect from time to time,
payable in arrears quarterly on the last day of each March, June, September and December
during such periods and on the date such Base Rate Advance shall be Converted or paid in
full.

     (ii) Eurodollar Rate Advances. During such periods as such Advance is a
Eurodollar Rate Advance, a rate per annum equal at all times during each Interest Period for
such Advance to the sum of (x) the Eurodollar Rate for such Interest Period for such Advance
plus (y) the Applicable Margin in effect from time to time, payable in arrears on the last
day of such Interest Period and, if such Interest Period has a duration of more than three
months, on each day that occurs during such Interest Period every three months from the
first day of such Interest Period and on the date such Eurodollar Rate Advance shall be
Converted or paid in full.

          (b) Default Interest. Upon the occurrence and during the continuance of an Event of
Default, the Agent may, and upon the request of the Required Lenders shall, require the Borrower to
pay interest (“Default Interest”) on (i) the unpaid principal amount of each Advance owing
to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above, at a
rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on
such Advance pursuant to clause (a)(i) or (a)(ii) above, as applicable, and (ii) to the fullest
extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is
not paid when due, from the date such amount shall be due until such amount shall be paid in full,
payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum
equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate
Advances pursuant to clause (a)(i) above; provided, however, that following
acceleration of the maturity of the Advances pursuant to Section 6.01, Default Interest shall
accrue and be payable hereunder whether or not previously required by the Agent.

          SECTION 2.08. Interest Rate Determination. (a) Each Reference Bank agrees to furnish
to the Agent timely information for the purpose of determining each Eurodollar Rate. If any one or
more of the Reference Banks shall not furnish such timely information to the Agent for the purpose
of determining any such interest rate, the Agent shall determine such interest rate on the basis of
timely information furnished by the remaining Reference Banks. The Agent shall

26

 

give prompt notice to the Borrower and the Lenders of the applicable interest rate determined
by the Agent for purposes of Section 2.07(a)(i) or (ii), and the rate, if any, furnished by each
Reference Bank for the purpose of determining the interest rate under Section 2.07(a)(ii).

          (b) If, with respect to any Eurodollar Rate Advances under any Facility, the Lenders owed at
least 51% of the aggregate principal amount thereof notify the Agent that the Eurodollar Rate for
any Interest Period for such Advances will not adequately reflect the cost to such Required Lenders
of making, funding or maintaining their respective Eurodollar Rate Advances for such Interest
Period, the Agent shall forthwith so notify the Borrower and the Lenders, whereupon (i) each
Eurodollar Rate Advance will automatically, on the last day of the then existing Interest Period
therefor, Convert into a Base Rate Advance, and (ii) the obligation of the Lenders to make, or to
Convert Advances into, Eurodollar Rate Advances shall be suspended and such Lenders have determined
that the circumstances causing such suspension no longer exist and the Agent shall so notify the
Borrower.

          (c) If the Borrower shall fail to select the duration of any Interest Period for any
Eurodollar Rate Advances in accordance with the provisions contained in the definition of “Interest
Period” in Section 1.01, the Agent will forthwith so notify the Borrower and the Lenders and such
Advances will automatically, on the last day of the then existing Interest Period therefor, Convert
into Base Rate Advances.

          (d) On the date on which the aggregate unpaid principal amount of Eurodollar Rate Advances
comprising any Borrowing shall be reduced, by payment or prepayment or otherwise, to less than
$10,000,000, such Advances shall automatically, on the last day of the then existing Interest
Period therefor, Convert into Base Rate Advances.

          (e) Upon the occurrence and during the continuance of any Event of Default, (i) each
Eurodollar Rate Advance will automatically, on the last day of the then existing Interest Period
therefor, Convert into a Base Rate Advance and (ii) the obligation of the Lenders to make, or to
Convert Advances into, Eurodollar Rate Advances shall be suspended.

          (f) If the Reuters LIBOR01 Screen (or any successor page) is unavailable and fewer than two
Reference Banks furnish timely information to the Agent for determining the Eurodollar Rate for any
Eurodollar Rate Advances:

     (i) the Agent shall forthwith notify the Borrower and the Lenders that the interest
rate cannot be determined for such Eurodollar Rate Advances;

     (ii) each outstanding Eurodollar Rate Advance will automatically, on the last day of
the then existing Interest Period therefor, Convert into a Base Rate Advance (or if such
Advance is then a Base Rate Advance, will continue as a Base Rate Advance); and

     (iii) the obligation of the Lenders to make Eurodollar Rate Advances or to Convert
Advances into Eurodollar Rate Advances shall be suspended until the Agent shall notify the
Borrower and the Lenders that the circumstances causing such suspension no longer exist.

27

 

          SECTION 2.09. Optional Conversion of Advances. The Borrower may on any Business Day,
upon notice given to the Agent not later than 12:00 Noon (New York City time) on the third Business
Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.08 and
2.12, Convert all or any portion of Advances of one Type comprising the same Borrowing into
Advances of the other Type; provided, however, that (a) any Conversion of
Eurodollar Rate Advances into Base Rate Advances shall be made only on the last day of an Interest
Period for such Eurodollar Rate Advances, (b) any Conversion of Base Rate Advances into Eurodollar
Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b),
(c) no Conversion of any Advances shall result in more separate Borrowings than permitted under
Section 2.02(b) and (d) each Conversion of Advances comprising part of the same Borrowing under any
Facility shall be made ratably among the Lenders in accordance with their Commitments under such
Facility. Each such notice of a Conversion shall, within the restrictions specified above, specify
(i) the date of such Conversion, (ii) the Advances to be Converted, and (iii) if such Conversion is
into Eurodollar Rate Advances, the duration of the initial Interest Period for each such Advance.
Each notice of Conversion shall be irrevocable and binding on the Borrower.

          SECTION 2.10. Prepayments of Advances. The Borrower may, upon notice at least three
Business Days prior to the date of such prepayment, in the case of Eurodollar Rate Advances, and
not later than 12:00 Noon (New York City time) on the date of such prepayment, in the case of Base
Rate Advances, to the Agent stating the proposed date and aggregate principal amount of the
prepayment, and if such notice is given the Borrower shall prepay the outstanding principal amount
of the Advances comprising part of the same Borrowing in whole or ratably in part, together with
accrued interest to the date of such prepayment on the principal amount prepaid; provided,
however, that (x) each partial prepayment shall be in an aggregate principal amount of
$10,000,000 or an integral multiple of $1,000,000 in excess thereof and (y) in the event of any
such prepayment of a Eurodollar Rate Advance, the Borrower shall be obligated to reimburse the
Lenders in respect thereof pursuant to Section 8.04(c).

          SECTION 2.11. Increased Costs. (a) If any Change in Law shall:

     (i) impose, modify or deem applicable any reserve, special deposit or similar
requirement (including any compulsory loan requirement, insurance charge or other
assessment) against assets of, deposits with or for the account of, or credit extended by,
any Lender (except any such reserve requirement reflected in the Eurodollar Rate) or Issuing
Bank; or

     (ii) impose on any Lender or Issuing Bank or the London interbank market any other
condition, cost or expense affecting this Agreement or Eurodollar Rate Advances made by such
Lender or any Letter of Credit or participation therein;

and the result of any of the foregoing shall be to increase the cost to such Lender of making or
maintaining any Eurodollar Rate Advance (or of maintaining its obligation to make any such Advance)
or to increase the cost to such Lender or Issuing Bank of participating in, issuing or maintaining
any Letter of Credit or to reduce the amount of any sum received or receivable by such Lender or
Issuing Bank hereunder (whether of principal, interest or otherwise), then the Borrower will pay to
such Lender or Issuing Bank, as the case may be, such additional amount or

28

 

amounts as will compensate such Lender or Issuing Bank, as the case may be, for such additional
costs incurred or reduction suffered.

          (b) If any Lender or Issuing Bank determines that any Change in Law regarding capital
requirements has or would have the effect of reducing the rate of return on such Lender’s or
Issuing Bank’s capital or on the capital of such Lender’s or Issuing Bank’s holding company, if
any, as a consequence of this Agreement or the Advances made by, or participations in Letters of
Credit held by, such Lender, or the Letters of Credit issued by such Issuing Bank, to a level below
which such Lender or Issuing Bank or such Lender’s or Issuing Bank’s holding company would have
achieved but for such Change in Law (taking into consideration such Lender’s or Issuing Bank’s
policies and the policies of such Lender’s or Issuing Bank’s holding company with respect to
capital adequacy), then from time to time the Borrower will pay to such Lender or Issuing Bank, as
the case may be, such additional amount or amounts as will compensate such Lender or Issuing Bank
or such Lender’s or Issuing Bank’s holding company for any such reduction suffered.

          (c) A certificate of a Lender or Issuing Bank setting forth the amount or amounts necessary to
compensate such Lender or Issuing Bank or its holding company, as the case may be, as specified in
paragraph (a) or (b) of this Section shall be delivered to the Borrower and shall be conclusive
absent manifest error. The Borrower shall pay such Lender or Issuing Bank, as the case may be, the
amount shown as due on any such certificate within 15 days after receipt thereof.

          (d) Failure or delay on the part of any Lender or Issuing Bank to demand compensation pursuant
to this Section shall not constitute a waiver of such Lender’s or Issuing Bank’s right to demand
such compensation; provided that the Borrower shall not be required to compensate a Lender
or Issuing Bank pursuant to this Section for any increased costs or reductions incurred more than
180 days prior to the date that such Lender or Issuing Bank, as the case may be, notifies the
Borrower of the Change in Law giving rise to such increased costs or reductions and of such
Lender’s or Issuing Bank’s intention to claim compensation therefor; provided,
further, that, if the Change in Law giving rise to such increased costs or reductions is
retroactive, then the 180-day period referred to above shall be extended to include the period of
retroactive effect thereof.

          SECTION 2.12. Illegality. Notwithstanding any other provision of this Agreement, if
any Lender shall notify the Agent that any Change in Law makes it unlawful, or any Governmental
Authority asserts that it is unlawful, for any Lender or its Eurodollar Lending Office to perform
its obligations hereunder to make Eurodollar Rate Advances or to fund or maintain Eurodollar Rate
Advances hereunder, (a) each Eurodollar Rate Advance will automatically, upon such demand, Convert
into a Base Rate Advance and (b) the obligation of the Lenders to make Eurodollar Rate Advances or
to Convert Advances into Eurodollar Rate Advances shall be suspended until the Agent shall notify
the Borrower and the Lenders that the circumstances causing such suspension no longer exist;
provided, however, that, before making any such demand, each Lender agrees to use
reasonable efforts (consistent with its internal policy and legal and regulatory restrictions) to
designate a different Eurodollar Lending Office if the making of such a designation would allow
such Lender or its Eurodollar Lending Office to continue to perform its obligations to make
Eurodollar Rate Advances or to continue to fund or

29

 

maintain Eurodollar Rate Advances and would not, in the judgment of such Lender, be otherwise
disadvantageous to such Lender.

          SECTION 2.13. Payments and Computations. (a) The Borrower shall make each payment
hereunder, irrespective of any right of counterclaim or set-off, not later than 11:00 A.M. (New
York City time) on the day when due in U.S. dollars to the Agent at the Agent’s Account in same day
funds. The Agent will promptly thereafter cause to be distributed like funds relating to the
payment of principal, interest, fees or commissions ratably (other than amounts payable pursuant to
Section 2.04(b)(ii), 2.11, 2.14, 2.20 or 8.04(c)) to the Lenders for the account of their
respective Applicable Lending Offices, and like funds relating to the payment of any other amount
payable to any Lender to such Lender for the account of its Applicable Lending Office, in each case
to be applied in accordance with the terms of this Agreement. Upon any Assuming Lender becoming a
Lender hereunder as a result of a Commitment Increase pursuant to Section 2.18, and upon the
Agent’s receipt of such Lender’s Assumption Agreement and recording of the information contained
therein in the Register, from and after the applicable Increase Date, the Agent shall make all
payments hereunder and under any Notes issued in connection therewith in respect of the interest
assumed thereby to the Assuming Lender. Upon its acceptance of an Assignment and Acceptance and
recording of the information contained therein in the Register pursuant to Section 8.07(c), from
and after the effective date specified in such Assignment and Acceptance, the Agent shall make all
payments hereunder and under the Notes in respect of the interest assigned thereby to the Lender
assignee thereunder, and the parties to such Assignment and Acceptance shall make all appropriate
adjustments in such payments for periods prior to such effective date directly between themselves.

          (b) The Borrower hereby authorizes each Lender, if and to the extent payment owed to such
Lender is not made when due hereunder or under the Note held by such Lender, to charge from time to
time against any or all of the Borrower’s accounts with such Lender any amount so due.

          (c) All computations of interest based on the Base Rate shall be made by the Agent on the
basis of a year of 365 or 366 days, as the case may be, and all computations of interest based on
the Eurodollar Rate or the Federal Funds Rate and of fees and Letter of Credit commissions shall be
made by the Agent on the basis of a year of 360 days, in each case for the actual number of days
(including the first day but excluding the last day) occurring in the period for which such
interest, fees or commissions are payable. Each determination by the Agent of an interest rate
hereunder shall be presumed correct for all purposes, absent manifest error.

          (d) Whenever any payment hereunder or under the Notes shall be stated to be due on a day other
than a Business Day, such payment shall be made on the next succeeding Business Day, and such
extension of time shall in such case be included in the computation of payment of interest, fee or
commission, as the case may be; provided, however, that, if such extension would
cause payment of interest on or principal of Eurodollar Rate Advances to be made in the next
following calendar month, such payment shall be made on the next preceding Business Day.

30

 

          (e) Unless the Agent shall have received notice from the Borrower prior to the date on which
any payment is due to the Lenders hereunder that the Borrower will not make such payment in full,
the Agent may assume that the Borrower has made such payment in full to the Agent on such date and
the Agent may, in reliance upon such assumption, cause to be distributed to each Lender on such due
date an amount equal to the amount then due such Lender. If and to the extent the Borrower shall
not have so made such payment in full to the Agent, each Lender shall repay to the Agent forthwith
on demand such amount distributed to such Lender together with interest thereon, for each day from
the date such amount is distributed to such Lender until the date such Lender repays such amount to
the Agent, at the Federal Funds Rate.

          SECTION 2.14. Taxes. (a) Any and all payments by the Borrower to or for the account
of any Lender or the Agent hereunder or under the Notes or any other documents to be delivered
hereunder shall be made, in accordance with Section 2.13 or the applicable provisions of such other
documents, free and clear of and without deduction for any and all present or future taxes, levies,
imposts, deductions, charges or withholdings, and all liabilities with respect thereto,
excluding, in the case of each Lender and the Agent, taxes imposed on its overall net
income, and franchise and excise taxes imposed on it in lieu of net income taxes, imposed on such
Lender or the Agent (as the case may be) as a result of a present or former connection between such
Lender or the Agent and the jurisdiction of the Governmental Authority imposing such tax or any
political subdivision thereof or taxing authority thereof or therein (other than any such
connection arising solely from such Lender or the Agent having executed, delivered or performed its
obligations or received a payment under, or enforced, this Agreement or any of the Notes) (all such
non-excluded taxes, levies, imposts, deductions, charges, withholdings and liabilities in respect
of payments hereunder or under the Notes being hereinafter referred to as “Taxes”). If the
Borrower shall be required by law to deduct any Taxes from or in respect of any sum payable
hereunder or under any Note or any other documents to be delivered hereunder to any Lender or the
Agent, (i) the sum payable shall be increased as may be necessary so that after making all required
deductions (including deductions applicable to additional sums payable under this Section 2.14)
such Lender or the Agent (as the case may be) receives an amount equal to the sum it would have
received had no such deductions been made, (ii) the Borrower shall make such deductions and (iii)
the Borrower shall pay the full amount deducted to the relevant taxation authority or other
authority in accordance with applicable law.

          (b) In addition, the Borrower shall pay any present or future stamp or documentary taxes or
any other excise or property taxes, charges or similar levies that arise from any payment made
hereunder or under the Notes or any other documents to be delivered hereunder or from the
execution, delivery or registration of, performing under, or otherwise with respect to, this
Agreement or the Notes or any other documents to be delivered hereunder (hereinafter referred to as
“Other Taxes”).

          (c) The Borrower shall indemnify each Lender and the Agent for and hold it harmless against
the full amount of Indemnified Taxes or Other Taxes (including taxes of any kind imposed or
asserted by any jurisdiction on amounts payable under this Section 2.14) imposed on or paid by such
Lender or the Agent (as the case may be) and any liability (including penalties, interest and
expenses) arising therefrom or with respect thereto. This indemnification shall be made within 30
days from the date such Lender or the Agent (as the case may be) makes written demand therefor.

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          (d) Within 30 days after the date of any payment of Taxes, the Borrower shall furnish to the
Agent, at its address referred to in Section 8.02, the original or a certified copy of a receipt
evidencing such payment to the extent such a receipt is issued therefor, or other written proof of
payment thereof that is reasonably satisfactory to the Agent. In the case of any payment hereunder
or under the Notes or any other documents to be delivered hereunder by or on behalf of the Borrower
through an account or branch outside the United States or by or on behalf of the Borrower by a
payor that is not a United States person, if the Borrower determines that no Taxes are payable in
respect thereof, the Borrower shall furnish, or shall cause such payor to furnish, to the Agent, at
such address, an opinion of counsel acceptable to the Agent stating that such payment is exempt
from Taxes. For purposes of this subsection (d) and subsection (e), the terms “United
States” and “United States person” shall have the meanings specified in Section 7701 of
the Internal Revenue Code.

          (e) Each Lender organized under the laws of a jurisdiction outside the United States, on or
prior to the date of its execution and delivery of this Agreement in the case of each Initial
Lender and on the date of the Assumption Agreement or the Assignment and Acceptance pursuant to
which it becomes a Lender in the case of each other Lender, and from time to time thereafter as
reasonably requested in writing by the Borrower (but only so long as such Lender remains lawfully
able to do so), shall provide each of the Agent and the Borrower with two original Internal Revenue
Service Forms W-8BEN or W-8ECI, as appropriate, or any successor or other form prescribed by the
Internal Revenue Service, certifying that such Lender is exempt from or entitled to a reduced rate
of United States withholding tax on payments pursuant to this Agreement or the Notes. If the form
provided by a Lender at the time such Lender first becomes a party to this Agreement indicates a
United States interest withholding tax rate in excess of zero, withholding tax at such rate shall
be considered excluded from Taxes unless and until such Lender provides the appropriate forms
certifying that a lesser rate applies, whereupon withholding tax at such lesser rate only shall be
considered excluded from Taxes for periods governed by such form; provided,
however, that, if at the date of the Assignment and Acceptance pursuant to which a Lender
assignee becomes a party to this Agreement, the Lender assignor was entitled to payments under
subsection (a) in respect of United States withholding tax with respect to interest paid at such
date, then, to such extent, the term “Taxes” shall include (in addition to withholding taxes that
may be imposed in the future or other amounts otherwise includable in Taxes) United States
withholding tax, if any, applicable with respect to the Lender assignee on such date. If any form
or document referred to in this subsection (e) requires the disclosure of information, other than
information necessary to compute the tax payable and information required on the date hereof by
Internal Revenue Service Form W-8BEN or W-8ECI, that the Lender reasonably considers to be
confidential, the Lender shall give notice thereof to the Borrower and shall not be obligated to
include in such form or document such confidential information.

          (f) For any period with respect to which a Lender has failed to provide the Borrower with the
appropriate form, certificate or other document described in
Section 2.14(e) (other than if such
failure is due to a Change in Law occurring subsequent to the date on which a form, certificate or
other document originally was required to be provided, or if such form, certificate or other
document otherwise is not required under subsection (e) above), such Lender shall not be entitled
to indemnification under Section 2.14(a) or (c) with respect to Taxes imposed by the United States
by reason of such failure; provided, however, that should a Lender

32

 

become subject to Taxes because of its failure to deliver a form, certificate or other
document required hereunder, the Borrower shall take such steps as the Lender shall reasonably
request to assist the Lender to recover such Taxes.

          (g) If the Agent or any Lender determines, in its sole discretion, that it has received a
refund of any Taxes or Other Taxes as to which it has been indemnified by the Borrower or with
respect to which the Borrower has paid additional amounts pursuant to this Section 2.14, it shall
pay over such refund to the Borrower (but only to the extent of indemnity payments made, or
additional amounts paid, by the Borrower under this Section 2.14 with respect to the Taxes or Other
Taxes giving rise to such refund), net of all out-of-pocket expenses of the Agent or such Lender
and without interest (other than any interest paid by the relevant Governmental Authority with
respect to such refund); provided that the Borrower, upon the request of the Agent or such
Lender, agrees to repay the amount paid over to the Borrower (plus any penalties, interest or other
charges imposed by the relevant Governmental Authority) to the Agent or such Lender in the event
the Agent or such Lender is required to repay such refund to such Governmental Authority. This
paragraph shall not be construed to require the Agent or any Lender to make available its tax
returns (or any other information relating to its taxes which it deems confidential) to the
Borrower or any other Person.

          (h) Any Lender claiming any additional amounts payable pursuant to this Section 2.14 agrees to
use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions)
to change the jurisdiction of its Eurodollar Lending Office if the making of such a change would
avoid the need for, or reduce the amount of, any such additional amounts that may thereafter accrue
and would not, in the reasonable judgment of such Lender, be otherwise disadvantageous to such
Lender.

          SECTION 2.15. Sharing of Payments, Etc. If any Lender shall obtain any payment
(whether voluntary, involuntary, through the exercise of any right of set-off, or otherwise) on
account of the Advances owing to it (other than pursuant to Section 2.11, 2.14, 2.20 or 8.04(c)) in
excess of its Ratable Share of payments on account of the Advances obtained by all the Lenders,
such Lender shall forthwith purchase from the other Lenders such participations in the Advances
owing to them as shall be necessary to cause such purchasing Lender to share the excess payment
ratably with each of them; provided, however, that, if all or any portion of such
excess payment is thereafter recovered from such purchasing Lender, such purchase from each Lender
shall be rescinded and such Lender shall repay to the purchasing Lender the purchase price to the
extent of such recovery together with an amount equal to such Lender’s Ratable Share (according to
the proportion of (i) the amount of such Lender’s required repayment to (ii) the total amount so
recovered from the purchasing Lender) of any interest or other amount paid or payable by the
purchasing Lender in respect of the total amount so recovered; provided, further,
that, so long as the maturity of the obligations under this Agreement and the Notes shall not have
been accelerated, any excess payment received by any Lender shall be shared on a pro rata basis
only with other Lenders. The Borrower agrees that any Lender so purchasing a participation from
another Lender pursuant to this Section 2.15 may, to the fullest extent permitted by law, exercise
all its rights of payment (including the right of set-off) with respect to such participation as
fully as if such Lender were the direct creditor of the Borrower in the amount of such
participation.

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          SECTION 2.16. Evidence of Debt. (a) Each Lender shall maintain in accordance with
its usual practice an account or accounts evidencing the indebtedness of the Borrower to such
Lender resulting from each Advance owing to such Lender from time to time, including the amounts of
principal and interest payable and paid to such Lender from time to time hereunder in respect of
Advances. The Borrower agrees that upon notice by any Lender to the Borrower (with a copy of such
notice to the Agent) to the effect that a Note is required or appropriate in order for such Lender
to evidence (whether for purposes of pledge, enforcement or otherwise) the Advances owing to, or to
be made by, such Lender, the Borrower shall promptly execute and deliver to such Lender a Note in
substantially the form of Exhibit A hereto, payable to the order of such Lender in a
principal amount equal to the Revolving Credit Commitment of such Lender.

          (b) The Register maintained by the Agent pursuant to Section 8.07(e) shall include a control
account, and a subsidiary account for each Lender, in which accounts (taken together) shall be
recorded (i) the date and amount of each Borrowing made hereunder, the Type of Advances comprising
such Borrowing and, if appropriate, the Interest Period applicable thereto, (ii) the terms of each
Assumption Agreement and each Assignment and Acceptance delivered to and accepted by it, (iii) the
amount of any principal or interest due and payable or to become due and payable from the Borrower
to each Lender hereunder and (iv) the amount of any sum received by the Agent from the Borrower
hereunder and each Lender’s share thereof.

          (c) Entries made in good faith by the Agent in the Register pursuant to subsection (b) above,
and by each Lender in its account or accounts pursuant to subsection (a) above, shall be prima
facie evidence of the amount of principal and interest due and payable or to become due and payable
from the Borrower to, in the case of the Register, each Lender and, in the case of such account or
accounts, such Lender, under this Agreement, absent manifest error; provided,
however, that the failure of the Agent or such Lender to make an entry, or any finding that
an entry is incorrect, in the Register or such account or accounts shall not limit or otherwise
affect the obligations of the Borrower under this Agreement.

          SECTION 2.17. Use of Proceeds. The proceeds of the Advances shall be available (and
the Borrower agrees that it shall use such proceeds) for refinancing of the Prior Facility and for
general corporate purposes of the Borrower and its Subsidiaries.

          SECTION 2.18. Increase in the Aggregate Revolving Credit Commitments. (a) The
Borrower may, at any time prior to the Termination Date, by notice to the Agent, request that the
aggregate amount of the Revolving Credit Commitments be increased by an amount of at least
$10,000,000 or an integral multiple thereof (each a “Commitment Increase”) to be effective
as of a date that is at least 90 days prior to the scheduled Termination Date then in effect (the
“Increase Date”) as specified in the related notice to the Agent; provided,
however that (i) in no event shall the aggregate amount of the Revolving Credit Commitments
at any time exceed $1,000,000,000 and (ii) on the date of any request by the Borrower for a
Commitment Increase and on the related Increase Date the conditions set forth in Section 3.02 shall
have been satisfied.

          (b) The Agent shall promptly notify the Lenders of a request by the Borrower for a Commitment
Increase, which notice shall include (i) the proposed amount of such requested Commitment Increase,
(ii) the proposed Increase Date and (iii) the date by which

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Lenders wishing to participate in the Commitment Increase must commit to an increase in the
amount of their respective Revolving Credit Commitments (the “Commitment Date”). Each
Lender that is willing to participate in such requested Commitment Increase (each an
“Increasing Lender”) shall, in its sole discretion, give written notice to the Agent on or
prior to the Commitment Date of the amount by which it is willing to increase its Revolving Credit
Commitment. If the Lenders notify the Agent that they are willing to increase the amount of their
respective Revolving Credit Commitments by an aggregate amount that exceeds the amount of the
requested Commitment Increase, the requested Commitment Increase shall be allocated among the
Lenders willing to participate therein in such amounts as are agreed between the Borrower and the
Agent.

          (c) Promptly following each Commitment Date, the Agent shall notify the Borrower as to the
amount, if any, by which the Lenders are willing to participate in the requested Commitment
Increase. If the aggregate amount by which the Lenders are willing to participate in any requested
Commitment Increase on any such Commitment Date is less than the requested Commitment Increase,
then the Borrower may extend offers to one or more Eligible Assignees to participate in any portion
of the requested Commitment Increase that has not been committed to by the Lenders as of the
applicable Commitment Date; provided, however, that the Revolving Credit Commitment
of each such Eligible Assignee shall be in an amount of $5,000,000 or an integral multiple of
$1,000,000 in excess thereof.

          (d) On each Increase Date, each Eligible Assignee that accepts an offer to participate in a
requested Commitment Increase in accordance with Section 2.18(c) (each such Eligible Assignee, an
“Assuming Lender”) shall become a Lender party to this Agreement as of such Increase Date
and the Revolving Credit Commitment of each Increasing Lender for such requested Commitment
Increase shall be so increased by such amount (or by the amount allocated to such Lender pursuant
to the last sentence of Section 2.18(b)) as of such Increase Date; provided,
however, that the Agent shall have received on or before such Increase Date the following,
each dated such date:

     (i) (A) a certificate signed by a duly authorized officer of the Borrower attaching the
Borrower’s certificate of incorporation and by-laws; (B) certified copies of resolutions of
the board of directors of the Borrower or the executive committee of such board approving
the Commitment Increase and the corresponding modifications to this Agreement, (C) a good
standing certificate of the Borrower issued by the Secretary of State of the State of
Delaware and (D) opinions of counsel for the Borrower (which may be in-house counsel), in
substantially the forms of Exhibits D-1 and D-2 hereto;

     (ii) an assumption agreement from each Assuming Lender, if any, in form and substance
satisfactory to the Borrower and the Agent (each an “Assumption Agreement”), duly
executed by such Assuming Lender, the Agent and the Borrower; and

     (iii) confirmation from each Increasing Lender of the increase in the amount of its
Revolving Credit Commitment in a writing satisfactory to the Borrower and the Agent.

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On each Increase Date, upon fulfillment of the conditions set forth in the immediately preceding
sentence of this Section 2.18(d) and in Section 3.02, the Agent shall notify the Lenders (including
each Assuming Lender) and the Borrower, on or before 1:00 P.M. (New York City time), by telecopier
or other form of electronic communication satisfactory to the Agent, of the occurrence of the
Commitment Increase to be effected on such Increase Date and shall record in the Register the
relevant information with respect to each Increasing Lender and each Assuming Lender on such date.

          (e) On the Increase Date, if any Advances are then outstanding, the Borrower shall borrow from
all or certain of the Lenders and/or (subject to compliance by the Borrower with Section 8.04(c))
prepay Advances of all or certain of the Lenders such that, after giving effect thereto, the
Advances (including the Types and Interest Periods thereof) shall be held by the Lenders (including
for such purposes the Increasing Lenders and the Assuming Lenders) ratably in accordance with their
respective Revolving Credit Commitments. On and after each Increase Date, the Ratable Share of
each Lender’s participation in Letters of Credit and Advances from draws under Letters of Credit
shall be calculated after giving effect to each such Commitment Increase.

          SECTION 2.19. Extension of Termination Date.

          (a) The Borrower may, by notice to the Agent (which shall promptly notify the Lenders) not
less than 45 days and not more than 90 days prior to each of the first and second anniversaries of
the Effective Date (each anniversary, an “Anniversary Date”), request that each Lender
extend such Lender’s Termination Date to the date (the “New Termination Date”) that is one
year after the then Termination Date. Each Lender, acting in its sole discretion, shall, by
written notice to the Agent given no later than the date (the “Consent Date”) that is 20
days prior to the relevant Anniversary Date (provided that, if such date is not a Business
Day, the Consent Date shall be the next succeeding Business Day), advise the Agent as to:

     (i) whether such Lender agrees to such extension of its Termination Date (each Lender
so agreeing to such extension being an “Extending Lender”); and

     (ii) only if such Lender is an Extending Lender, whether such Lender also irrevocably
offers to increase the amount of its Revolving Credit Commitment in connection with the
replacement of one or more Non-Extending Lenders (each Lender so offering to increase its
Revolving Credit Commitment being an “Increasing and Extending Lender” as well as an
Extending Lender) and, if so, the amount of the additional Commitment such Lender so
irrevocably offers to assume hereunder (such Lender’s “Proposed Additional
Commitment”).

Each Lender that determines not to extend its Termination Date (a “Non-Extending Lender”)
shall notify the Agent (which shall notify the Lenders) of such fact promptly after such
determination but in any event no later than the Consent Date, and any Lender that does not advise
the Agent in writing on or before the Consent Date shall be deemed to be a Non-Extending Lender and
(without limiting the Borrower’s rights under Section 2.19(c)) shall have no liability to the
Borrower in connection therewith. The election of any Lender to agree to such extension shall not
obligate any other Lender so to agree. The Agent shall notify the

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Borrower of each Lender’s determination under this Section 2.19(a) no later than the date 15 days
prior to the relevant Anniversary Date (or, if such date is not a Business Day, on the next
preceding Business Day).

     (b) (i) If all of the Lenders are Extending Lenders, then, effective as of the Consent
Date, the Termination Date of each Lender shall be extended to the New Termination Date as
provided in Section 2.19(b)(ii)(1), and the respective Revolving Credit Commitments of the
Lenders will not be subject to change at such Consent Date pursuant to this Section 2.19.

     (ii) If and only if the sum of (x) the aggregate amount of the Revolving Credit
Commitments of the Extending Lenders (that are not Increasing and Extending Lenders)
plus (y) the aggregate amount of the Proposed Additional Commitments of the
Increasing and Extending Lenders (such sum, the “Extending Commitments”) shall be
equal to at least 50% of the then total Revolving Credit Commitments, then:

     (1) effective as of the Consent Date, the Termination Date of each Extending
Lender shall be extended to the New Termination Date;

     (2) the Borrower shall (so long as no Default shall have occurred and be
continuing) have the right, but not the obligation, during the period commencing on
the Consent Date and ending on the immediately succeeding Anniversary Date to
replace each Non-Extending Lender as a party to this Agreement in accordance with
Section 2.19(c); and

     (3) the Agent shall notify the Issuing Banks of the New Termination Date and
the Lenders whose Termination Dates are the New Termination Date, and each Issuing
Bank, acting in its sole discretion, shall determine whether it shall elect to
extend its Termination Date to the New Termination Date and shall so notify the
Agent, at which time such Issuing Bank’s obligation to issue Letters of Credit
pursuant to Section 2.03 shall be extended to the date that is 30 days prior to the
New Termination Date.

     (iii) If neither of the conditions specified in clause (i) or clause (ii) of this
Section 2.19(b) is satisfied, then neither the Termination Date nor the Commitment of any
Lender will change pursuant to this Section 2.19 on such Consent Date, and the Borrower will
not have the right to take any of the actions specified in Section 2.19(b)(ii)(2).

          (c) Replacement by the Borrower of Non-Extending Lenders pursuant to Section 2.19(b)(ii)(2)
shall be effected as follows (certain terms being used in this Section 2.19(c) having the meanings
assigned to them in Section 2.19(d)) on the relevant Assignment Date:

     (i) the Assignors shall severally assign and transfer to the Assignees, and the
Assignees shall severally purchase and assume from the Assignors, all of the Assignors’
rights and obligations (including the Assignors’ respective Revolving Credit Commitments)
hereunder and under the Notes;

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     (ii) each Assignee shall pay to the Agent, for account of the Assignors, an amount
equal to such Assignee’s Share of the aggregate outstanding principal amount of the Advances
then held by the Assignors; and

     (iii) the Borrower shall pay to the Agent, for account of the Assignors, all interest,
fees and other amounts (other than principal of outstanding Advances) then due and owing to
the Assignors by the Borrower hereunder (including payments due such Assignors, if any,
under Sections 2.11, 2.14 and 8.04).

The assignments provided for in this Section 2.19(c) shall be effected on the relevant Assignment
Date in accordance with Section 8.07 and pursuant to one or more Assignments and Acceptances.
After giving effect to such assignments, each Assignee shall have a Revolving Credit Commitment
hereunder (which, if such Assignee was a Lender hereunder immediately prior to giving effect to
such assignment, shall be in addition to such Assignee’s existing Revolving Credit Commitment) in
an amount equal to the amount of its Assumed Commitment. Upon any such termination or assignment,
each Assignor shall cease to be a party hereto to the extent of its assignment but shall continue
to be obligated under Section 7.05 and be entitled to the benefits of Section 8.04, as well as to
any fees and other amounts accrued for its account under Sections 2.04, 2.11 or 2.14 and not yet
paid.

          (d) For purposes of this Section 2.19, the following terms shall have the following meanings
(such meanings to be equally applicable to both the singular and plural forms of the terms
defined):

          “Assigned Commitments” means the Commitments of Non-Extending Lenders to be replaced
pursuant to Section 2.19(b)(ii)(2).

          “Assignees” means, at any time, Increasing and Extending Lenders and, if the Assigned
Commitments exceed the aggregate amount of the Proposed Additional Commitments, one or more New
Lenders.

          “Assignment Date” means the relevant Anniversary Date or such earlier date as shall be
acceptable to the Borrower, the relevant Assignors, the relevant Assignees and the Agent.

          “Assignors” means, at any time, the Non-Extending Lenders to be replaced by the
Borrower pursuant to Section 2.19(b)(ii)(2).

          The “Assumed Commitment” of each Assignee shall be determined as follows:

          (a) If the aggregate amount of the Proposed Additional Commitments of all of the Increasing
Lenders shall exceed the aggregate amount of the Assigned Commitments, then (i) the amount of the
Assumed Commitment of each Increasing and Extending Lender shall be equal to (x) the aggregate
amount of the Assigned Commitments multiplied by (y) a fraction, the numerator of
which is equal to such Increasing and Extending Lender’s Commitment as then in effect and the
denominator of which is the aggregate amount of the Commitments of all Increasing and Extending
Lenders as then in effect; and (ii) no New Lender shall be entitled to

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become a Lender hereunder pursuant to Section 2.19(c) (and, accordingly, each New Lender shall
have an Assumed Commitment of zero).

          (b) If the aggregate amount of the Proposed Additional Commitments of all of the Increasing
and Extending Lenders shall be less than or equal to the aggregate amount of the Assigned
Commitments, then: (i) the amount of the Assumed Commitment of each Increasing and Extending
Lender shall be equal to such Increasing and Extending Lender’s Proposed Additional Commitment; and
(ii) the excess, if any, of the aggregate amount of the Assigned Commitments over the
aggregate amount of the Proposed Additional Commitments shall be allocated among New Lenders in
such a manner as the Borrower and the Agent may agree.

          (c) “Share” means, as to any Assignee, a fraction the numerator of which is equal to
such Assignee’s Assumed Commitment and the denominator of which is the aggregate amount of the
Assumed Commitments of all the Assignees.

          SECTION 2.20. Defaulting Lenders. (a) Defaulting Lender Adjustments.
Notwithstanding anything to the contrary contained in this Agreement, if any Lender becomes a
Defaulting Lender, then, until such time as such Lender is no longer a Defaulting Lender, to the
extent permitted by applicable law:

     (i) Waivers and Amendments. The Revolving Credit Commitment of such Defaulting
Lender shall not be included in determining whether the Required Lenders have taken or may
take any action hereunder (including any consent to any amendment, waiver or other
modification pursuant to Section 8.01); provided that, if a particular amendment,
waiver or modification requires consent of all Lenders, the vote of a Defaulting Lender
shall not be included except where such amendment, waiver or modification specifically
requires consent of such Lender or each Lender affected thereby.

     (ii) Defaulting Lender Waterfall. Any payment of principal, interest, fees or
other amounts received by the Agent for the account of such Defaulting Lender (whether
voluntary or mandatory, at maturity, pursuant to Article III or otherwise) or received by
the Agent from a Defaulting Lender pursuant to Section 8.05 shall be applied at such time or
times as may be determined by the Agent as follows: first, to the payment of any amounts
owing by such Defaulting Lender to the Agent hereunder; second, to the payment on a pro rata
basis of any amounts owing by such Defaulting Lender to any Issuing Bank hereunder; third,
to Cash Collateralize the Issuing Banks’ Fronting Exposure with respect to such Defaulting
Lender in accordance with Section 2.21; fourth, as the Borrower may request (so long as no
Default or Event of Default exists), to the funding of any Advance in respect of which such
Defaulting Lender has failed to fund its portion thereof as required by this Agreement, as
determined by the Agent; fifth, if so determined by the Agent and the Borrower, to be held
in a deposit account and released pro rata in order to (x) satisfy such Defaulting Lender’s
potential future funding obligations with respect to the Advances under this Agreement and
(y) Cash Collateralize the Issuing Banks’ future Fronting Exposure with respect to such
Defaulting Lender with respect to future Letters of Credit issued under this Agreement, in
accordance with Section 2.21; sixth, to the payment of any amounts owing to the Lenders or
the Issuing

39

 

Banks as a result of any judgment of a court of competent jurisdiction obtained by any
Lender or the Issuing Banks against such Defaulting Lender as a result of such Defaulting
Lender’s breach of its obligations under this Agreement; seventh, so long as no Default or
Event of Default exists, to the payment of any amounts owing to the Borrower as a result of
any judgment of a court of competent jurisdiction obtained by the Borrower against such
Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under
this Agreement; and eighth, to such Defaulting Lender or as otherwise directed by a court of
competent jurisdiction; provided that if (x) such payment is a payment of the
principal amount of any Advances or L/C Disbursements in respect of which such Defaulting
Lender has not fully funded its appropriate share, and (y) such Advances were made or the
related Letters of Credit were issued at a time when the conditions set forth in Section
3.02 were satisfied or waived, such payment shall be applied solely to pay the Advances of,
and L/C Disbursements owed to, all Non-Defaulting Lenders on a pro rata basis prior to being
applied to the payment of any Advances of, or L/C Disbursements owed to, such Defaulting
Lender until such time as all Advances and funded and unfunded participations in the L/C
Exposure are held by the Lenders pro rata in accordance with their Commitments under the
applicable Facility without giving effect to Section 2.20(a)(iv). Any payments, prepayments
or other amounts paid or payable to a Defaulting Lender that are applied (or held) to pay
amounts owed by a Defaulting Lender or to post Cash Collateral pursuant to this Section
2.20(a)(ii) shall be deemed paid to and redirected by such Defaulting Lender, and each
Lender irrevocably consents hereto.

     (iii) Certain Fees. (A) Each Defaulting Lender shall be entitled to receive a
Facility Fee for any period during which that Lender is a Defaulting Lender only to the
extent allocable to the sum of (x) the outstanding principal amount of the Advances funded
by it and (y) its Ratable Share of the stated amount of Letters of Credit for which it has
provided Cash Collateral pursuant to Section 2.21.

     (B) Each Defaulting Lender shall be entitled to receive the Letter of Credit
Fee for any period during which that Lender is a Defaulting Lender only to the
extent allocable to its Ratable Share of the stated amount of Letters of Credit for
which it has provided Cash Collateral pursuant to Section 2.21.

     (C) With respect to any Facility Fee or Letter of Credit Fee not required to be
paid to any Defaulting Lender pursuant to clause (A) or (B) above, the Borrower
shall (x) pay to each Non-Defaulting Lender that portion of any such fee otherwise
payable to such Defaulting Lender with respect to such Defaulting Lender’s
participation in the L/C Exposure that has been reallocated to such Non-Defaulting
Lender pursuant to clause (iv) below, (y) pay to each Issuing Bank the amount of any
such fee otherwise payable to such Defaulting Lender to the extent allocable to such
Issuing Bank’s Fronting Exposure to such Defaulting Lender and (z) not be required
to pay the remaining amount of any such fee.

     (iv) Reallocation of Participations to Reduce Fronting Exposure. All or any
part of such Defaulting Lender’s participation in the L/C Exposure shall be reallocated
among the Non-Defaulting Lenders in accordance with their respective Ratable Share
(calculated without regard to such Defaulting Lender’s Revolving Credit Commitment)

40

 

but only to the extent that (x) the conditions set forth in Section 3.02 are satisfied
at the time of such reallocation (and, unless the Borrower shall have otherwise notified the
Agent at such time, the Borrower shall be deemed to have represented and warranted that such
conditions are satisfied at such time), and (y) such reallocation does not cause the
aggregate Revolving Credit Exposure of any Non-Defaulting Lender to exceed such
Non-Defaulting Lender’s Revolving Credit Commitment. No reallocation hereunder shall
constitute a waiver or release of any claim of any party hereunder against a Defaulting
Lender arising from that Lender having become a Defaulting Lender, including any claim of a
Non-Defaulting Lender as a result of such Non-Defaulting Lender’s increased exposure
following such reallocation.

     (v) Cash Collateral. If the reallocation described in clause (iv) above
cannot, or can only partially, be effected, the Borrower shall, without prejudice to any
right or remedy available to it hereunder or under law, Cash Collateralize the Issuing
Banks’ Fronting Exposure in accordance with the procedures set forth in Section 2.21 for so
long as such Fronting Exposure is outstanding.

          (b) Defaulting Lender Cure. If the Borrower, the Agent and each Issuing Bank agree in
writing that a Lender is no longer a Defaulting Lender, the Agent will so notify the parties
hereto, whereupon as of the effective date specified in such notice and subject to any conditions
set forth therein (which may include arrangements with respect to any Cash Collateral), that Lender
will, to the extent applicable, purchase at par that portion of outstanding Advances of the other
Lenders or take such other actions as the Agent may determine to be necessary to cause the Advances
and funded and unfunded participations in Letters of Credit to be held pro rata by the Lenders in
accordance with their Commitments under the applicable Facility (without giving effect to Section
2.20(a)(iv)), whereupon such Lender will cease to be a Defaulting Lender; provided that no
adjustments will be made retroactively with respect to fees accrued or payments made by or on
behalf of the Borrower while that Lender was a Defaulting Lender; and provided,
further, that except to the extent otherwise expressly agreed by the affected parties, no
change hereunder from Defaulting Lender to Lender will constitute a waiver or release of any claim
of any party hereunder arising from that Lender’s having been a Defaulting Lender.

          (c) New Letters of Credit. So long as any Lender is a Defaulting Lender, no Issuing
Bank shall be required to issue, extend, renew or increase any Letter of Credit unless it is
satisfied that it will have no Fronting Exposure after giving effect thereto.

          (d) Other Arrangements. If an Issuing Bank has a good faith belief that any Lender
has defaulted in fulfilling its obligations under one or more other agreements in which such Lender
commits to extend credit, such Issuing Bank shall not be required to issue, amend or increase any
Letter of Credit unless such Issuing Bank shall have entered into arrangements with the Borrower or
such Lender, satisfactory to such Issuing Bank, to mitigate any risk to it in respect of such
Lender hereunder.

          SECTION 2.21. Cash Collateral. At any time that there shall exist a Defaulting
Lender, within one Business Day following the written request of the Agent or any Issuing Bank
(with a copy to the Agent), the Borrower shall Cash Collateralize the Issuing Banks’ Fronting

41

 

Exposure with respect to such Defaulting Lender in an amount (determined after giving effect
to Section 2.20(a)(iv) and any Cash Collateral provided by such Defaulting Lender) not less than
the Minimum Collateral Amount.

          (a) Grant of Security Interest. The Borrower, and to the extent provided by any
Defaulting Lender, such Defaulting Lender, hereby grants to the Agent, for the benefit of the
Issuing Banks, and agrees to maintain, a first priority security interest in all such Cash
Collateral as security for the Defaulting Lenders’ obligation to fund participations in respect of
the L/C Exposure, to be applied pursuant to clause (b) below. If at any time the Agent determines
that the required Cash Collateral is subject to any right or claim of any Person other than the
Agent and the Issuing Banks as herein provided or that the total amount of such Cash Collateral is
less than the Minimum Collateral Amount, the Borrower will, promptly upon demand by the Agent, pay
or provide to the Agent additional Cash Collateral in an amount sufficient to eliminate such
deficiency (after giving effect to any Cash Collateral provided by the Defaulting Lender).

          (b) Application. Notwithstanding anything to the contrary contained in this
Agreement, Cash Collateral provided under this Section 2.21 or Section 2.20 in respect of the
Letters of Credit shall be applied to the satisfaction of the Defaulting Lenders’ obligation to
fund participations in respect of the L/C Exposure (including, as to Cash Collateral provided by a
Defaulting Lender, any interest accrued on such obligation) for which the Cash Collateral was so
provided, prior to any other application of such property as may otherwise be provided for herein.

          (c) Termination of Requirement. Cash Collateral (or the appropriate portion
thereof) provided to reduce any Issuing Bank’s Fronting Exposure shall no longer be required to be
held as Cash Collateral pursuant to this Section 2.21 or Section 2.20 following (i) the elimination
of the applicable Fronting Exposure (including by the termination of Defaulting Lender status of
the applicable Lender), or (ii) the determination by the Agent and each Issuing Bank that there
exists excess Cash Collateral; provided that, subject to Section 2.20, the Person providing
Cash Collateral and each Issuing Bank may agree that Cash Collateral shall be held to support
future anticipated Fronting Exposure or other obligations.

          SECTION 2.22. Replacement of Lenders. If any Lender requests compensation under
Section 2.11 or if any Lender is a Defaulting Lender, then the Borrower may, at its sole expense
and effort, upon notice to such Lender and the Agent, require such Lender to assign and delegate,
without recourse (in accordance with and subject to the restrictions contained in, and consents
required by, Section 8.07), all of its interests, rights and obligations under this Agreement and
the related Loan Documents to an Eligible Assignee that shall assume such obligations (which
assignee may be another Lender, if a Lender accepts such assignment); provided that:

          (a) the Borrower shall have paid to the Agent the assignment fee (if any) specified in
Section 8.07;

          (b) such Lender shall have received payment of an amount equal to the outstanding
principal of its Advances and participations in the L/C Disbursements, accrued interest thereon,
accrued fees and all other amounts payable to it hereunder and under the other

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Loan Documents (including any amounts under Section 8.04(c)) from the assignee (to the extent
of such outstanding principal and accrued interest and fees) or the Borrower (in the case of all
other amounts);

          (c) in the case of any such assignment resulting from a claim for compensation under
Section 2.11, such assignment will result in a reduction in such compensation or payments
thereafter; and

          (d) such assignment does not conflict with applicable law.

A Lender shall not be required to make any such assignment or delegation if, prior thereto, as a
result of a waiver by such Lender or otherwise, the circumstances entitling the Borrower to require
such assignment and delegation cease to apply.

ARTICLE III

CONDITIONS TO EFFECTIVENESS AND LENDING

          SECTION 3.01. Conditions Precedent to Effectiveness of Section 2.01. Section 2.01
of this Agreement shall become effective on and as of the first date (the “Effective Date”)
on which the following conditions precedent have been satisfied:

          (a) There shall have occurred no Material Adverse Change since December 31, 2010.

          (b) All governmental and third party consents and approvals necessary in connection with
the transactions contemplated hereby shall have been obtained (without the imposition of any
conditions that are not acceptable to the Lenders) and shall remain in effect, and no law or
regulation shall be applicable in the reasonable judgment of the Lenders that restrains, prevents
or imposes materially adverse conditions upon the transactions contemplated hereby.

          (c) The Borrower, through the Agent, shall have notified the Agent and each Lender in
writing as to the proposed Effective Date.

          (d) The Borrower shall have paid all accrued fees and expenses of the Agent and the
Lenders (including the accrued fees and expenses of counsel to the Agent) that the Borrower is
obligated to pay on or before the Effective Date pursuant to the terms of this Agreement.

          (e) On the Effective Date, the following statements shall be true, and the Agent shall
have received for the account of each Lender a certificate signed by a duly authorized officer of
the Borrower, dated the Effective Date, stating that:

     (i) The representations and warranties contained in Section 4.01 are correct on and
as of the Effective Date, excluding, however, representations and warranties made as of
specified earlier date, which shall remain true and correct as of such earlier date; and

43

 

     (ii) No event has occurred and is continuing that constitutes a Default.

          (f) The Agent shall have received on or before the Effective Date the following, each
dated such day, in form and substance satisfactory to the Agent:

     (i) The Notes to the order of the Lenders to the extent requested by any Lender
pursuant to Section 2.16;

     (ii) Certified copies of the resolutions of the board of directors of the Borrower
approving this Agreement and the Notes, and of all documents evidencing other necessary
corporate action and governmental approvals, if any, with respect to this Agreement and the
Notes;

     (iii) A certificate of the Secretary or an Assistant Secretary of the Borrower
certifying the names and true signatures of the officers of the Borrower authorized to sign
the Loan Documents and attaching the Borrower’s certificate of incorporation and by-laws;

     (iv) A favorable opinion of Thomas C. Zielinski, General Counsel of the Borrower,
and a favorable opinion of Bass, Berry & Sims PLC, counsel for the Borrower, substantially
in the form of Exhibits D-1 and D-2 hereto, respectively, and as to such
other matters as any Lender through the Agent may reasonably request;

     (v) A favorable opinion of Chadbourne & Parke LLP, counsel for the Agent, in form
and substance satisfactory to the Agent; and

     (vi) A good standing certificate of the Borrower issued by the Secretary of State
of the State of Delaware.

          (g) The Agent shall have received evidence to its satisfaction of the termination of the
Prior Facility.

          SECTION 3.02. Conditions Precedent to Each Borrowing, Letter of Credit Issuance and
Commitment Increase. The obligation of each Lender to make an Advance on the occasion of each
Borrowing (other than pursuant to Section 2.03(c)), the obligation of each Issuing Bank to issue,
extend or renew a Letter of Credit and each Commitment Increase shall be subject to the conditions
precedent that the Effective Date shall have occurred and, on the date of such Borrowing, such
issuance or the applicable Increase Date:

          (a) the following statements shall be true (and each of the giving of the applicable
Notice of Borrowing, Notice of Issuance or request for Commitment Increase and the acceptance by
the Borrower of the proceeds of such Borrowing shall constitute a representation and warranty by
the Borrower that on the date of such Borrowing, such issuance or such Increase Date such
statements are true):

     (i) the representations and warranties contained in Section 4.01 (except, in the
case of Borrowings or issuances, the representations set forth in the last sentence of
subsection (e) thereof) are correct on and as of such date, before and after giving effect
to

44

 

such Borrowing, such issuance, such Commitment Increase and to the application of the
proceeds therefrom, as though made on and as of such date, excluding, however,
representations and warranties made as of specified earlier date, which shall remain true
and correct as of such earlier date; and

     (ii) no event has occurred and is continuing, or would result from such Borrowing,
such issuance, such Commitment Increase or from the application of the proceeds therefrom,
that constitutes a Default.

          (b) The Agent shall have received such other approvals, opinions or documents as any
Lender through the Agent may reasonably request.

          SECTION 3.03. Determinations Under Section 3.01. For purposes of determining
compliance with the conditions specified in Section 3.01, each Lender shall be deemed to have
consented to, approved or accepted or to be satisfied with each document or other matter required
thereunder to be consented to or approved by or acceptable or satisfactory to the Lenders unless an
officer of the Agent responsible for the transactions contemplated by this Agreement shall have
received notice from such Lender prior to the date that the Borrower, by notice to the Lenders,
designates as the proposed Effective Date, specifying its objection thereto. The Agent shall
promptly notify the Lenders of the occurrence of the Effective Date.

ARTICLE IV

REPRESENTATIONS AND WARRANTIES

          SECTION 4.01. Representations and Warranties of the Borrower. The Borrower
represents and warrants as follows:

          (a) The Borrower is a corporation duly organized, validly existing and in good standing
under the laws of the State of Delaware.

          (b) The execution, delivery and performance by the Borrower of this Agreement and the
Notes to be delivered by it, and the consummation of the transactions contemplated hereby, are
within the Borrower’s corporate powers, have been duly authorized by all necessary corporate
action, and do not contravene (i) the Borrower’s certificate of incorporation or by-laws or (ii)
law or any material contractual restriction binding on or affecting the Borrower.

          (c) No authorization or approval or other action by, and no notice to or filing with, any
Governmental Authority or regulatory body or any other third party is required for the due
execution, delivery and performance by the Borrower of this Agreement or the Notes to be delivered
by it, except for those authorizations, approvals, actions, notices and filings listed on
Schedule 4.01(c) hereto, all of which have been duly obtained, taken, given or made and are
in full force and effect.

          (d) This Agreement has been, and each of the Notes to be delivered by it when delivered
hereunder will have been, duly executed and delivered by the Borrower. This Agreement is, and each
of the Notes when delivered hereunder will be, the legal, valid and

45

 

binding obligation of the Borrower enforceable against the Borrower in accordance with their
respective terms, except as enforceability may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights
generally and by general equitable principles (whether enforcement is sought by proceedings in
equity or at law).

          (e) The Consolidated balance sheet of the Borrower and its Subsidiaries as at December 31,
2010, and the related Consolidated statements of income and cash flows of the Borrower and its
Subsidiaries for the fiscal year then ended, accompanied by an opinion of Ernst & Young LLP,
independent public accountants, and the Consolidated balance sheet of the Borrower and its
Subsidiaries as at March 31, 2011, and the related Consolidated statements of income and cash flows
of the Borrower and its Subsidiaries for the three months then ended, duly certified by the chief
financial officer of the Borrower, copies of which have been furnished to each Lender, fairly
present, subject, in the case of said balance sheet as at March 31, 2011, and said statements of
income and cash flows for the three months then ended, to year-end audit adjustments, the
Consolidated financial condition of the Borrower and its Subsidiaries as at such dates and the
Consolidated results of the operations of the Borrower and its Subsidiaries for the periods ended
on such dates, all in accordance with generally accepted accounting principles consistently
applied. Since December 31, 2010, there has been no Material Adverse Change.

          (f) There is no pending or threatened action, suit, investigation, litigation or
proceeding affecting the Borrower or any of its Subsidiaries before any court, governmental agency
or arbitrator that (i) could be reasonably likely to have a Material Adverse Effect (other than the
matters described on Schedule 4.01(f) hereto (the “Disclosed Litigation”)) or (ii)
purports to materially and adversely affect the legality, validity or enforceability of this
Agreement or any Note or the consummation of the transactions contemplated hereby, and there has
been no material adverse change in the status, or in the financial effect on the Borrower and its
Subsidiaries, taken as a whole, of the Disclosed Litigation from that described on Schedule
4.01(f) hereto.

          (g) The Borrower is not engaged in the business of extending credit for the purpose of
purchasing or carrying margin stock (within the meaning of Regulation U issued by the Board), and
no proceeds of any Advance will be used to purchase or carry any margin stock or to extend credit
to others for the purpose of purchasing or carrying any margin stock in violation of any Regulation
of the Board, including Regulations T, U or X.

          (h) The Borrower is not an “investment company”, or a company “controlled” by an
“investment company”, within the meaning of the Investment Company Act of 1940, as amended.

          (i) Neither the Information Memorandum nor any other final written information, exhibit or
report furnished by or on behalf of the Borrower to the Agent or any Lender in connection with the
negotiation and syndication of this Agreement or pursuant to the terms of this Agreement contained,
as of the respective dates thereof, any untrue statement of a material fact or omitted to state a
material fact necessary to make the statements made therein, taken as a whole, not misleading. The
projections and pro forma financial information contained in the material referenced above are
based upon good faith estimates and assumptions believed

46

 

by management of the Borrower to be reasonable at the time made, it being recognized by the
Lenders that such financial information as it relates to future events is not to be viewed as fact
and that actual results during the period or periods covered by such financial information may
differ from the projected results set forth therein by a material amount.

          (j) Except as disclosed to the Agent by the Borrower in writing from time to time after
the Closing Date, Schedule 4.01(j) sets forth the name and jurisdiction of incorporation of
each Subsidiary of the Borrower and, as to each such Subsidiary, the percentage of each class of
capital stock owned by any the Borrower and its Subsidiaries and whether such Subsidiary is an HMO
Subsidiary or an Insurance Subsidiary.

          (k) The Borrower and each of its Subsidiaries has filed or caused to be filed all Federal
and other material tax returns that are required to be filed and has paid all taxes shown to be due
and payable on said returns or on any assessments made against it or any of its property and all
other taxes, fees or other charges imposed on it or any of its property by any Governmental
Authority (other than any the amount or validity of which are currently being contested in good
faith by appropriate proceedings and with respect to which reserves in conformity with GAAP have
been provided on the books of the Borrower or such Subsidiary). No tax Lien has been filed and, to
the knowledge of the Borrower, no claim is being asserted, with respect to any such tax, fee or
other charge.

          (l) The Borrower and each of its Subsidiaries is in compliance with all applicable laws,
rules, regulations and orders, such compliance to include compliance with applicable requirements
of ERISA, Environmental Laws, HIPAA, Medicaid Regulations, HMO Regulations, Insurance Regulations
and the Patriot Act, except to the extent that failure to comply therewith could not, individually
or in the aggregate, reasonably be expected to have a Material Adverse Effect.

ARTICLE V

COVENANTS OF THE BORROWER

          SECTION 5.01. Affirmative Covenants. So long as any Advance shall remain unpaid
or any Lender shall have any Commitment hereunder, the Borrower will:

          (a) Compliance with Laws, Etc. Comply, and cause each of its Subsidiaries to
comply, with all applicable laws, rules, regulations and orders, such compliance to include
compliance with applicable requirements of ERISA, Environmental Laws, HIPAA, Medicaid Regulations,
HMO Regulations, Insurance Regulations and the Patriot Act, except to the extent that failure to
comply therewith could not, individually or in the aggregate, reasonably be expected to have a
Material Adverse Effect.

          (b) Payment of Taxes, Etc. Pay and discharge, and cause each of its Subsidiaries
to pay and discharge, before the same shall become delinquent, (i) all taxes, assessments and
governmental charges or levies imposed upon it or upon its property and (ii) all lawful claims
that, if unpaid, might by law become a Lien upon its property; provided, however,
that neither the Borrower nor any of its Subsidiaries shall be required to pay or discharge any

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such tax, assessment, charge or claim (i) that is being contested in good faith and by proper
proceedings and as to which appropriate reserves are being maintained, unless and until any Lien
resulting therefrom attaches to its property and becomes enforceable against its other creditors or
(ii) if a failure to pay or discharge the same, individually or in the aggregate, could not
reasonably be expected to have a Material Adverse Effect.

          (c) Maintenance of Insurance. Maintain, and cause each of its Subsidiaries to
maintain, such insurance with responsible and reputable insurance companies or associations in such
amounts and covering such risks as is usually carried by companies engaged in similar businesses
and owning similar properties in the same general areas in which the Borrower or such Subsidiary
operates; provided, however, that the Borrower and its Subsidiaries may self-insure
to the same extent as other companies engaged in similar businesses and owning similar properties
in the same general areas in which the Borrower or such Subsidiary operates and to the extent
consistent with prudent business practice.

          (d) Preservation of Corporate Existence, Etc. (i) Preserve and maintain, and
cause each of its Subsidiaries to preserve and maintain, its organizational existence and (ii)
take, and cause each of its Subsidiaries to take, all reasonable action to maintain all rights,
privileges and franchises necessary or desirable in the normal conduct of its business (including
all licenses and certifications required pursuant to any HMO Regulations or Insurance Regulations,
all certifications and authorizations necessary to ensure that each of the Borrower’s HMO
Subsidiaries and Insurance Subsidiaries is eligible for all reimbursements available under HMO
Regulations and Insurance Regulations to the extent applicable to HMOs and insurance companies of
their type and the products provided by them, and all material licenses, permits, authorizations
and qualifications required under HMO Regulations and Insurance Regulations in connection with the
ownership or operation of HMOs and insurance companies), except (x) in each case, as otherwise
permitted by Section 5.02(b), (y) the Borrower may permit the dissolution and winding-up of any of
its Subsidiaries if such Subsidiary has no material assets, engages in no material business and has
no material activities other than activities related to the maintenance of its existence and good
standing and (z) in the case of clause (i) above as to Subsidiaries and except in the case of
clause (ii) above, to the extent that failure to do so could not, individually or in the aggregate,
reasonably be expected to have a Material Adverse Effect.

          (e) Visitation Rights. At any reasonable time and from time to time upon
reasonable prior notice and during normal business hours, permit the Agent or any of the Lenders or
any agents or representatives thereof, to examine and make copies of and abstracts from the records
and books of account of, and visit the properties of, the Borrower and any of its Subsidiaries, and
to discuss the affairs, finances and accounts of the Borrower and any of its Subsidiaries with any
of their officers or directors and with their independent certified public accountants. During the
course of the aforementioned examinations, visits and discussions, representatives of the Agent and
the Lenders may encounter individually identifiable healthcare information or other confidential
information relating to healthcare patients (collectively, the “Confidential Healthcare
Information”). Unless otherwise required by law, the Agent and the Lenders, and their
respective representatives, shall not disclose, compile, aggregate, remove from the properties of
the Borrower or any of its Subsidiaries or record in any manner any Confidential Healthcare
Information, and shall not require the Borrower or any of its

48

 

Subsidiaries to violate any laws, regulations or ordinances intended to protect the privacy
rights of healthcare patients, including HIPAA and the HITECH Act.

          (f) Keeping of Books. Keep, and cause each of its Subsidiaries to keep, proper
books of record and account, in which full and correct entries shall be made of all financial
transactions and the assets and business of the Borrower and each such Subsidiary in accordance
with generally accepted accounting principles in effect from time to time.

          (g) Maintenance of Properties, Etc. Except to the extent that a failure to do so
could not reasonably be expected to have a Material Adverse Effect, maintain and preserve, and
cause each of its Subsidiaries to maintain and preserve, all of its properties that are used or
useful in the conduct of its business in good working order and condition, ordinary wear and tear
excepted.

          (h) Transactions with Affiliates. Conduct, and cause each of its Subsidiaries to
conduct, all transactions otherwise permitted under this Agreement with any of their Affiliates
(other than transactions that are not material to the Borrower and its Subsidiaries on a
Consolidated basis and transactions between or among the Borrower and its Subsidiaries) on terms
that are fair and reasonable and no less favorable to the Borrower or such Subsidiary than it would
obtain in a comparable arm’s-length transaction with a Person not an Affiliate.

          (i) Reporting Requirements. Furnish to the Lenders through the Agent:

     (i) as soon as available and in any event within 10 days after the date the Company
is required to file its Form 10-Q with the Securities and Exchange Commission (taking into
account any extension of such due date, whether obtained by filing the notification
permitted by Rule 12b-25 or any successor provision or otherwise), the Consolidated balance
sheet of the Borrower and its Subsidiaries as of the end of such quarter and Consolidated
statements of income and cash flows of the Borrower and its Subsidiaries for the period
commencing at the end of the previous fiscal year and ending with the end of such quarter,
duly certified (subject to year-end audit adjustments) by a Responsible Officer as having
been prepared in accordance with generally accepted accounting principles (it being
understood that the Borrower’s obligations under this clause (i) shall be satisfied in
respect of any fiscal quarter by delivery to the Agent in accordance with Section 8.02(b)
within the time specified above of the Borrower’s quarterly report for such fiscal quarter
on Form 10-Q as filed with the Securities and Exchange Commission) and certificates of a
Responsible Officer as to compliance with the terms of this Agreement and setting forth in
reasonable detail the calculations necessary to demonstrate compliance with Section 5.03;
provided that in the event of any change in generally accepted accounting principles
used in the preparation of such financial statements, the Borrower shall also provide, if
necessary for the determination of compliance with Section 5.03, a statement of
reconciliation conforming such financial statements to GAAP;

     (ii) as soon as available and in any event within 10 days after the date the
Company is required to file its Form 10-K with the Securities and Exchange Commission
(taking into account any extension of such due date, whether obtained by filing the

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notification permitted by Rule 12b-25 or any successor provision or otherwise), a copy
of the annual audit report for such year for the Borrower and its Subsidiaries, containing
the Consolidated balance sheet of the Borrower and its Subsidiaries as of the end of such
fiscal year and Consolidated statements of income and cash flows of the Borrower and its
Subsidiaries for such fiscal year, in each case accompanied by an opinion reasonably
acceptable to the Required Lenders by Ernst & Young LLP or other independent public
accountants of recognized national standing (it being understood that the Borrower’s
obligations under this clause (ii) shall be satisfied in respect of any fiscal year by
delivery to the Agent in accordance with Section 8.02(b) within the time specified above of
the Borrower’s annual report for such fiscal year on Form 10-K as filed with the Securities
and Exchange Commission) and certificates of a Responsible Officer as to compliance with the
terms of this Agreement and setting forth in reasonable detail the calculations necessary to
demonstrate compliance with Section 5.03; provided that in the event of any change
in generally accepted accounting principles used in the preparation of such financial
statements, the Borrower shall also provide, if necessary for the determination of
compliance with Section 5.03, a statement of reconciliation conforming such financial
statements to GAAP;

     (iii) to the extent not otherwise provided in accordance with this Section 5.01(i),
promptly after the sending or filing thereof, copies of all quarterly and annual reports and
proxy solicitations that the Borrower sends to any of its security holders, and copies of
all reports on Form 8-K and registration statements for the public offering (other than
pursuant to employee Plans) of securities that the Borrower or any Subsidiary files with the
Securities and Exchange Commission or any national securities exchange;

     (iv) notice of the occurrence of any Default;

     (v) [Reserved];

     (vi) notice of any litigation or proceeding affecting the Borrower or any of its
Subsidiaries (A) in which the amount involved is $50,000,000 or more and not covered by
insurance, (B) in which injunctive or similar relief is sought and that, if adversely
determined, could reasonably be expected to have a Material Adverse Effect, or (C) that
relates to this Agreement or any Note;

     (vii) notice of any ERISA Event;

     (viii) notice of any investigation by any Governmental Authority or the filing or
commencement of any action, suit or proceeding by or before any arbitrator or Governmental
Authority (including any HMO Regulator or Insurance Regulator) against or affecting the
Borrower or any of its Subsidiaries, or any adverse change in the status of the matters
referred to in Section 4.01(f), that, individually or in the aggregate, has had, or could
reasonably be expected to have, a Material Adverse Effect;

     (ix) notice of receipt by the Borrower, any Material HMO Subsidiary or any Material
Insurance Subsidiary of any notice of loss of licensure, loss of participation

50

 

under any
reimbursement program or loss of applicable health care license or certificate
of authority, or loss of any permit, authorization, accreditation, or qualification or
any notice relating to the threatened loss of any of the foregoing, from any Governmental
Authority, HMO Regulator or Insurance Regulator that, individually or in the aggregate, has
had, or could reasonably be expected to have, a Material Adverse Effect;

     (x) notice of receipt by the Borrower, any Material HMO Subsidiary or any Material
Insurance Subsidiary of any other deficiency notice, compliance order or adverse reports
issued by any Governmental Authority, HMO Regulator, Insurance Regulator or private
insurance company pursuant to a provider agreement that, if not promptly complied with or
cured, could reasonably be expected to result in the suspension or forfeiture of any
license, certification or licensure necessary for such Material HMO Subsidiary or Material
Insurance Subsidiary to carry on its business as then conducted or the termination of any
insurance or reimbursement program available to any Material HMO Subsidiary or any Material
Insurance Subsidiary and that, individually or in the aggregate, has had, or could
reasonably be expected to have, a Material Adverse Effect;

     (xi) notice of receipt by the Borrower, any Material HMO Subsidiary or any Material
Insurance Subsidiary of any correspondence from any Governmental Authority, HMO Regulator or
Insurance Regulator that asserts that the Borrower, any Material HMO Subsidiary or any
Material Insurance Subsidiary is not in substantial compliance with any HMO Regulation or
Insurance Regulation or that threatens the taking of any action against the Borrower, any
Material HMO Subsidiary or any Material Insurance Subsidiary under any HMO Regulation or any
Insurance Regulation and that, individually or in the aggregate, had had, or could
reasonably be expected to have, a Material Adverse Effect; and

     (xii) such other information respecting the Borrower or any of its Subsidiaries as
any Lender through the Agent may from time to time reasonably request.

          Each notice pursuant to clauses (iv) through (xii) above shall be accompanied by a statement
of a Responsible Officer setting forth details of the occurrence referred to therein and stating
what action the Borrower or the applicable Subsidiary proposes to take with respect thereto.

          (j) Use of Proceeds. No part of the proceeds of any Advance will be used, whether
directly or indirectly, for any purpose that entails a violation of any of the Regulations of the
Board, including Regulations T, U and X. The proceeds of the Advances made under this Agreement
may be used to repay the amounts outstanding under the Prior Facility and for general corporate
purposes.

          SECTION 5.02. Negative Covenants. So long as any Advance shall remain unpaid or
any Lender shall have any Commitment hereunder, the Borrower will not:

          (a) Liens. Create or suffer to exist, or permit any of its Subsidiaries to create
or suffer to exist, any Lien on or with respect to any of its properties, whether now owned or

51

 

hereafter acquired, or assign, or permit any of its Subsidiaries to assign, any right to
receive income, other than:

     (i) Liens for taxes not yet delinquent or that are being contested in good faith by
appropriate proceedings; provided that adequate reserves with respect thereto are
maintained on the books of the Borrower or its Subsidiaries, as the case may be, in
conformity with GAAP;

     (ii) carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s or other
like Liens arising in the ordinary course of business that are not overdue for a period of
more than 60 days or that are being contested in good faith by appropriate proceedings;

     (iii) pledges or deposits in connection with the workers’ compensation,
unemployment insurance and other social security legislation;

     (iv) deposits to secure the performance of bids, trade contracts (other than for
borrowed money), leases, statutory obligations, surety and appeal bonds, performance bonds
and other obligations of a like nature incurred in the ordinary course of business;

     (v) easements, reservations, rights-of-way, covenants, conditions, restrictions and
other similar encumbrances incurred in the ordinary course of business that, in the
aggregate, are not substantial in amount and that do not in any case materially detract from
the value of the property subject thereto or materially interfere with the ordinary conduct
of the business of the Borrower or any of its Subsidiaries;

     (vi) Liens in existence on the date hereof listed on Schedule 5.02(a),
securing Debt permitted by Section 5.02(d)(iii); provided that no such Lien is
spread to cover any additional property after the Effective Date and that the amount of Debt
secured thereby is not increased;

     (vii) Liens securing Debt of the Borrower, or Debt of a Subsidiary incurred
pursuant to Section 5.02(d) (iv), (x) to finance the acquisition of fixed or capital assets
or (y) pursuant to a sale and leaseback transaction; provided that (A) such Liens
shall be created substantially simultaneously with the acquisition of such fixed or capital
assets or such sale and leaseback transaction, as the case may be, (B) such Liens do not at
any time encumber any property other than the property financed by such Debt and (C) the
amount of Debt secured thereby is not increased;

     (viii) Liens created in connection with this Agreement to secure the Borrower’s
obligations hereunder;

     (ix) any interest or title of a lessor under any lease entered into by the Borrower
or any other Subsidiary permitted by this Agreement and covering only the assets so leased;

     (x) Liens on property of a Person at the time such Person becomes a Subsidiary of
the Borrower and securing Debt of such Person permitted under

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Section 5.02(d)(v); provided that any such Lien may not extend to any other property of
the Borrower or any other Subsidiary of the Borrower that is not a direct Subsidiary of such
Person; provided, further, that any such Lien shall not have been incurred
in anticipation of or in connection with the transaction or series of transactions pursuant
to which such Person became a Subsidiary of the Borrower;

     (xi) Liens in respect of any writ of execution, attachment, garnishment, judgment
or judicial award, if (A) enforcement proceedings have not been commenced by the judgment
creditor upon such judgment, and there has not been any period of 30 consecutive days during
which a stay of enforcement of such judgment or order, by reason of a pending appeal or
otherwise, has not been in effect, or (B) the underlying claim is fully covered by insurance
and the insurer has been notified of, and has not disputed its responsibility to pay, such
claim; and

     (xii) Liens not otherwise permitted by this Section so long as the aggregate
outstanding principal amount of the obligations secured thereby does not at any one time
exceed (as to the Borrower and all of its Subsidiaries) 10% of Consolidated Net Worth.

          (b) Mergers, Etc. Merge or consolidate with or into any Person except that (i)
any Subsidiary of the Borrower may merge into the Borrower and (ii) any Person may merge into the
Borrower so long as the Borrower is the surviving corporation; provided, in each case, that
no Default shall have occurred and be continuing at the time of such proposed transaction or would
otherwise result therefrom.

          (c) Accounting Changes. Make or permit, or permit any of its Subsidiaries to make
or permit, any change in accounting policies or reporting practices, except as required or
permitted by generally accepted accounting principles.

          (d) Subsidiary Debt. Permit any of its Subsidiaries to create or suffer to exist,
any Debt other than:

     (i) Debt owed to the Borrower or to a wholly-owned Subsidiary of the Borrower;

     (ii) Guarantee Obligations in respect of obligations of any Subsidiary of the
Borrower;

     (iii) Debt existing on the Effective Date and described on Schedule 5.02(d)
hereto (the “Existing Debt”) and any Debt extending the maturity of, or refunding or
refinancing, in whole or in part, the Existing Debt; provided that the principal
amount of such Existing Debt shall not be increased above the principal amount thereof
outstanding immediately prior to such extension, refunding or refinancing, and the direct
and contingent obligors therefor shall not be changed except as permitted by clause (ii)
above, as a result of or in connection with such extension, refunding or refinancing;

     (iv) Debt (including Capital Lease Obligations) secured by Liens permitted by
Section 5.02(a)(vii) in an aggregate principal amount not to exceed $100,000,000 at any one
time outstanding;

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     (v) Debt of a Subsidiary of the Borrower outstanding on the date on which such
Subsidiary was acquired by the Borrower (other than Debt incurred as consideration in, or to
provide all or any portion of the funds or credit support utilized to consummate, the
transaction or series of transactions pursuant to which such Subsidiary became a Subsidiary
of the Borrower or was otherwise acquired by the Borrower) in an aggregate amount (for all
Subsidiaries) at any one time outstanding not to exceed 10% of Consolidated Net Worth; and

     (vi) additional Debt in an aggregate principal amount not to exceed 10% of
Consolidated Net Worth at any one time outstanding.

          (e) Sales, Etc. of Assets. Sell, lease, transfer or otherwise dispose of, or
permit any of its Subsidiaries to sell, lease, transfer or otherwise dispose of, all or
substantially all of the Consolidated assets of the Borrower and its Subsidiaries, except
dispositions by any Subsidiary to the Borrower or any other Subsidiary.

          (f) Change in Nature of Business. Enter into any material business, either
directly or through any Subsidiary, except for those businesses in which the Borrower and its
Subsidiaries are engaged on the date hereof or that are reasonably related thereto.

          (g) Clauses Restricting Subsidiary Distributions. Enter into or suffer to exist
or become effective any consensual encumbrance or restriction on the ability of any Subsidiary of
the Borrower to (i) make payments in respect of any capital stock of such Subsidiary held by, or
pay any Debt owed to, the Borrower or any other Subsidiary of the Borrower, (ii) make loans or
advances to, or other investments in, the Borrower or any other Subsidiary of the Borrower or (iii)
transfer any of its assets to the Borrower or any other Subsidiary of the Borrower, except for such
encumbrances or restrictions existing under or by reason of (A) any restrictions existing under
this Agreement or the Indentures, (B) any restrictions with respect to a Subsidiary imposed
pursuant to an agreement that has been entered into in connection with the disposition of all or
substantially all of the capital stock or assets of such Subsidiary, (C) any restrictions on a
Subsidiary imposed by HMO Regulations, Insurance Regulations or other requirements of law, or any
agreements entered into pursuant thereto, and (D) any restrictions applicable to a Person at the
time such Person becomes a Subsidiary of the Borrower; provided that any such restriction
shall not have been created in anticipation of or in connection with the transaction or series of
transactions pursuant to which such Person became a Subsidiary of the Borrower.

          SECTION 5.03. Financial Covenant. So long as any Advance shall remain unpaid or
any Lender shall have any Commitment hereunder, the Borrower will not permit, as of the last day of
any period of four consecutive fiscal quarters of the Borrower, the Consolidated Leverage Ratio to
exceed 3.00 to 1.00.

ARTICLE VI

EVENTS OF DEFAULT

          SECTION 6.01. Events of Default. If any of the following events (“Events of
Default”) shall occur and be continuing:

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          (a) The Borrower shall fail to pay any principal of any Advance when the same becomes due
and payable; or the Borrower shall fail to pay any interest on any Advance or make any other
payment of fees or other amounts payable under this Agreement or any Note within five Business Days
after the same becomes due and payable;

          (b) Any representation or warranty made by the Borrower herein or by the Borrower in any
certificate, document or financial or other statement furnished by it in connection with this
Agreement shall prove to have been incorrect in any material respect when made;

          (c) (i) The Borrower shall fail to perform or observe any term, covenant or agreement
contained in Section 5.01(d), (e), (h), (i) or (j), 5.02 or 5.03, or (ii) the Borrower shall fail
to perform or observe any other term, covenant or agreement contained in this Agreement on its part
to be performed or observed if such failure shall remain unremedied for 30 days after written
notice thereof shall have been given to the Borrower by the Agent or any Lender;

          (d) The Borrower or any of its Subsidiaries shall fail to pay any principal of or premium
or interest on any Debt that is outstanding in a principal or notional amount of at least
$50,000,000 in the aggregate (but excluding Debt outstanding hereunder) of the Borrower or such
Subsidiary (as the case may be), when the same becomes due and payable (whether by scheduled
maturity, required prepayment, acceleration, demand or otherwise), and such failure shall continue
after the applicable grace period, if any, specified in the agreement or instrument relating to
Debt in excess of the aforesaid threshold amount; or any other event shall occur or condition shall
exist under any agreement or instrument relating to any such Debt and shall continue after the
applicable grace period, if any, specified in such agreement or instrument, if the effect of such
event or condition is to accelerate, or to permit the acceleration of, the maturity of such Debt;
or any Debt in excess of the aforesaid threshold amount shall be declared to be due and payable, or
required to be prepaid or redeemed (other than by a regularly scheduled required prepayment or
redemption), purchased or defeased, or an offer to prepay, redeem, purchase or defease such Debt
shall be required to be made, in each case prior to the stated maturity thereof;

          (e) (i) The Borrower or any of its Subsidiaries shall generally not pay its debts as such
debts become due, or shall admit in writing its inability to pay its debts generally; (ii) the
Borrower or any of its Subsidiaries shall make a general assignment for the benefit of creditors;
(iii) any proceeding shall be instituted by or against the Borrower or any of its Subsidiaries
seeking to adjudicate it a bankrupt or insolvent, or seeking liquidation, reorganization or other
relief in respect of the Borrower or any Subsidiary or its debts or a substantial part of its
assets under any Federal, state or foreign bankruptcy, insolvency, receivership or similar law now
or hereafter in effect (“Debtor Relief Law”), or seeking the entry of an order for relief
or the appointment of a receiver, trustee, custodian or other similar official for it or for any
substantial part of its property under any Debtor Relief Law, and, in the case of any such
proceeding instituted against it (but not instituted by it), either such proceeding shall remain
undismissed or unstayed for a period of 60 days, or any of the actions sought in such proceeding
(including the entry of an order for relief against, or the appointment of a receiver, trustee,
custodian or other similar official for, it or for any substantial part of its property) shall
occur; or (iv) the Borrower or any of its Subsidiaries shall take any corporate action to authorize
any of the actions set forth above in clause (ii) or (iii) of this subsection (e);

55

 

          (f) Judgments or orders for the payment of money in excess of $50,000,000 in the aggregate
shall be rendered against the Borrower or any of its Subsidiaries and either (i) enforcement
proceedings shall have been commenced by any creditor upon such judgment or order or (ii) there
shall be any period of 30 consecutive days during which a stay of enforcement of such judgment or
order, by reason of a pending appeal or otherwise, shall not be in effect; provided,
however, that any such judgment or order shall not be an Event of Default under this
Section 6.01(f) if and for so long as (i) the amount of such judgment or order is covered by a
valid and binding policy of insurance between the defendant and the insurer covering payment
thereof and (ii) such insurer has been notified of, and has not disputed the claim made for payment
of, the amount of such judgment or order;

          (g) (i) Any Person (other than the Borrower) or two or more Persons acting in concert
shall have acquired beneficial ownership (within the meaning of Rule 13d-3 of the Securities and
Exchange Commission under the Securities Exchange Act of 1934), directly or indirectly, of Voting
Stock of the Borrower (or other securities convertible into such Voting Stock) representing 35% or
more of the combined voting power of all Voting Stock of the Borrower; or (ii) during any period of
24 consecutive months, commencing after the date of this Agreement, individuals who at the
beginning of such 24-month period were directors of the Borrower shall cease for any reason (other
than due to death or disability) to constitute a majority of the board of directors of the Borrower
(except to the extent that individuals who at the beginning of such 24-month period were replaced
by individuals (x) elected by a majority of the remaining members of the board of directors of the
Borrower or (y) nominated for election by, or whose nomination for election is recommended by, a
majority of the remaining members of the board of directors of the Borrower and thereafter elected
as directors by the shareholders of the Borrower);

          (h) The Borrower or any of its ERISA Affiliates shall incur liability in excess of
$50,000,000 in the aggregate as a result of one or more of the following: (i) the occurrence of
any ERISA Event; (ii) the partial or complete withdrawal of the Borrower or any of its ERISA
Affiliates from a Multiemployer Plan; or (iii) the reorganization or termination of a Multiemployer
Plan; or

          (i) the non-compliance by the Borrower or any of its Subsidiaries with any terms or
provisions of any applicable HMO Regulation or Insurance Regulation pertaining to the fiscal
soundness, solvency or financial condition of the Borrower or any of its Subsidiaries and such
non-compliance shall not have been cured or waived within 30 days after the applicable statutory
grace period (if any), if such non-compliance could reasonably be expected to have a Material
Adverse Effect;

then, and in any such event, the Agent (i) shall at the request, or may with the consent, of the
Required Lenders, by notice to the Borrower, declare the obligation of each Lender to make Advances
to be terminated, whereupon the same shall forthwith terminate, and (ii) shall at the request, or
may with the consent, of the Required Lenders, by notice to the Borrower, declare the Advances, all
interest thereon and all other amounts payable under this Agreement to be forthwith due and
payable, whereupon the Advances, all such interest and all such amounts shall become and be
forthwith due and payable, without presentment, demand, protest or further notice of any kind, all
of which are hereby expressly waived by the Borrower; provided,

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however, that in the event of an event described in Section 6.01(e)(ii), (iii) or (iv) with
respect to the Borrower, (A) the obligation of each Lender to make Advances shall automatically be
terminated and (B) the Advances, all such interest and all such other amounts shall automatically
become and be due and payable, without presentment, demand, protest or any notice of any kind, all
of which are hereby expressly waived by the Borrower.

          SECTION 6.02. Actions in Respect of the Letters of Credit upon Default. If any
Event of Default shall have occurred and be continuing, the Agent may with the consent, or shall at
the request, of the Required Lenders, irrespective of whether it is taking any of the actions
described in Section 6.01 or otherwise, make demand upon the Borrower to, and forthwith upon such
demand the Borrower will, (a) pay to the Agent on behalf of the Lenders in same day funds at the
Agent’s office designated in such demand, for deposit in the L/C Cash Collateral Account, an amount
equal to 102% of the aggregate L/C Exposure or (b) make such other arrangements in respect of the
outstanding Letters of Credit as shall be acceptable to the Required Lenders. If at any time the
Agent determines that any funds held in the L/C Cash Collateral Account are subject to any right or
claim of any Person other than the Agent and the Lenders or that the total amount of such funds is
less than 102% of the aggregate L/C Exposure, the Borrower will, forthwith upon demand by the
Agent, pay to the Agent, as additional funds to be deposited and held in the L/C Cash Collateral
Account, an amount equal to the excess of (a) 102% of the aggregate L/C Exposure over (b) the total
amount of funds, if any, then held in the L/C Cash Collateral Account that the Agent determines to
be free and clear of any such right and claim. Upon the drawing of any Letter of Credit, to the
extent funds are on deposit in the L/C Cash Collateral Account, such funds shall be applied to
reimburse the Issuing Banks to the extent permitted by applicable law. After (i) no Event of
Default shall be continuing or (ii) all such Letters of Credit shall have expired or been fully
drawn upon and all other obligations of the Borrower hereunder and under the Notes shall have been
paid in full, the balance, if any, in such L/C Cash Collateral Account shall be returned to the
Borrower.

ARTICLE VII

THE AGENT

          SECTION 7.01. Authorization and Action. Each Lender (in its capacity as a Lender
or an Issuing Bank, as applicable) hereby appoints and authorizes the Agent to take such action as
agent on its behalf and to exercise such powers and discretion under this Agreement as are
delegated to the Agent by the terms hereof, together with such powers and discretion as are
reasonably incidental thereto. As to any matters not expressly provided for by this Agreement
(including enforcement or collection of the Notes), the Agent shall not be required to exercise any
discretion or take any action, but shall be required to act or to refrain from acting (and shall be
fully protected in so acting or refraining from acting) upon the instructions of the Required
Lenders, and such instructions shall be binding upon all Lenders and all holders of Notes;
provided, however, that the Agent shall not be required to take any action that
exposes the Agent to personal liability or that is contrary to this Agreement or applicable law,
including for the avoidance of doubt any action that may be in violation of the automatic stay
under any Debtor Relief Law or that may effect a forfeiture, modification or termination of
property of a Defaulting Lender in violation of any Debtor Relief Law. The Agent agrees to give to
each

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Lender prompt notice of each notice given to it by the Borrower pursuant to the terms of this
Agreement.

          SECTION 7.02. Agent’s Reliance, Etc. Neither the Agent nor any of its directors,
officers, agents or employees shall be liable for any action taken or omitted to be taken by it or
them under or in connection with this Agreement, except for its or their own gross negligence or
willful misconduct. Without limitation of the generality of the foregoing, the Agent: (i) may
treat the Lender that made any Advance as the holder of the Debt resulting therefrom until the
Agent receives and accepts an Assumption Agreement entered into by an Assuming Lender as provided
in Section 2.18 or an Assignment and Acceptance entered into by such Lender, as assignor, and an
Eligible Assignee, as assignee, as provided in Section 8.07; (ii) may consult with legal counsel
(including counsel for the Borrower), independent public accountants and other experts selected by
it and shall not be liable for any action taken or omitted to be taken in good faith by it in
accordance with the advice of such counsel, accountants or experts; (iii) makes no warranty or
representation to any Lender and shall not be responsible to any Lender for any statements,
warranties or representations (whether written or oral) made in or in connection with this
Agreement; (iv) shall not have any duty to ascertain or to inquire as to the performance,
observance or satisfaction of any of the terms, covenants or conditions of this Agreement on the
part of the Borrower or the existence at any time of any Default or to inspect the property
(including the books and records) of the Borrower; (v) shall not be responsible to any Lender for
the due execution, legality, validity, enforceability, genuineness, sufficiency or value of, or the
perfection or priority of any lien or security interest created or purported to be created under or
in connection with, this Agreement or any other instrument or document furnished pursuant hereto;
and (vi) shall incur no liability under or in respect of this Agreement by acting upon any notice,
consent, certificate or other instrument or writing (which may be by telecopier or other form of
electronic communication satisfactory to the Agent) believed by it to be genuine and signed or sent
by the proper party or parties.

          SECTION 7.03. JPMCB and Affiliates. With respect to its Commitments, the Advances
made by it and the Note issued to it, JPMCB shall have the same rights and powers under this
Agreement as any other Lender and may exercise the same as though it were not the Agent; and the
term “Lender” or “Lenders” shall, unless otherwise expressly indicated, include JPMCB in its
individual capacity. JPMCB and its Affiliates may accept deposits from, lend money to, act as
trustee under indentures of, accept investment banking engagements from and generally engage in any
kind of business with, the Borrower, any of its Subsidiaries and any Person who may do business
with or own securities of the Borrower or any such Subsidiary, all as if JPMCB were not the Agent
and without any duty to account therefor to the Lenders. The Agent shall have no duty to disclose
any information obtained or received by it or any of its Affiliates relating to the Borrower or any
of its Subsidiaries to the extent such information was obtained or received in any capacity other
than as Agent.

          SECTION 7.04. Lender Credit Decision. Each Lender acknowledges that it has,
independently and without reliance upon the Agent or any other Lender and based on the financial
statements referred to in Section 4.01 and such other documents and information as it has deemed
appropriate, made its own credit analysis and decision to enter into this Agreement. Each Lender
also acknowledges that it will, independently and without reliance upon the Agent or any other
Lender and based on such documents and information as it shall deem appropriate at

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the time, continue to make its own credit decisions in taking or not taking action under this
Agreement.

          SECTION 7.05. Indemnification. (a) Each Lender agrees to indemnify the Agent (to
the extent not promptly reimbursed by the Borrower and without limiting any obligation of the
Borrower to do so) from and against such Lender’s Ratable Share of any and all liabilities,
obligations, losses, damages, actions, judgments, suits, costs, expenses or disbursements of any
kind or nature whatsoever that may be imposed on, incurred by, or asserted against the Agent in any
way relating to or arising out of this Agreement or any action taken or omitted by the Agent in its
capacity as such under this Agreement (collectively, the “Indemnified Costs”),
provided that no Lender shall be liable for any portion of the Indemnified Costs resulting
from the Agent’s gross negligence or willful misconduct. Without limitation of the foregoing, each
Lender agrees to reimburse the Agent promptly upon demand for its Ratable Share of any
out-of-pocket expenses (including counsel fees) incurred by the Agent in connection with the
preparation, execution, delivery, administration, modification, amendment or enforcement (whether
through negotiations, legal proceedings or otherwise) of, or legal advice in respect of rights or
responsibilities under, this Agreement, to the extent that the Agent is not reimbursed for such
expenses by the Borrower. In the case of any investigation, litigation or proceeding giving rise
to any Indemnified Costs, this Section 7.05(a) applies whether any such investigation, litigation
or proceeding is brought by the Agent, any Lender or a third party.

          (b) Each Lender severally agrees to indemnify the Issuing Banks (to the extent not
promptly reimbursed by the Borrower and without limiting any obligation of the Borrower to do so)
from and against such Lender’s Ratable Share of any and all liabilities, obligations, losses,
damages, actions, judgments, suits, costs, expenses or disbursements of any kind or nature
whatsoever that may be imposed on, incurred by, or asserted against any such Issuing Bank in any
way relating to or arising out of this Agreement or any action taken or omitted by such Issuing
Bank in its capacity as such hereunder or in connection herewith; provided,
however, that no Lender shall be liable for any portion of such liabilities, obligations,
losses, damages, actions, judgments, suits, costs, expenses or disbursements resulting from such
Issuing Bank’s gross negligence or willful misconduct. Without limitation of the foregoing, each
Lender agrees to reimburse any such Issuing Bank promptly upon demand for its Ratable Share of any
costs and expenses (including fees and expenses of counsel) payable by the Borrower under Section
8.04, to the extent that such Issuing Bank is not promptly reimbursed for such costs and expenses
by the Borrower.

          (c) The failure of any Lender to reimburse the Agent or any Issuing Bank promptly upon
demand for its Ratable Share of any amount required to be paid by the Lenders to the Agent or such
Issuing Bank as provided herein shall not relieve any other Lender of its obligation hereunder to
reimburse the Agent or such Issuing Bank for its Ratable Share of such amount, but no Lender shall
be responsible for the failure of any other Lender to reimburse the Agent or an Issuing Bank for
such other Lender’s Ratable Share of such amount. Without prejudice to the survival of any other
agreement of any Lender hereunder, the agreement and obligations of each Lender contained in this
Section 7.05 shall survive the payment in full of principal, interest and all other amounts payable
hereunder and under the Notes.

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          SECTION 7.06. Successor Agent. (a) The Agent may resign at any time by giving
written notice thereof to the Lenders and the Borrower and may be removed at any time with or
without cause by the Required Lenders. Upon any such resignation or removal, the Required Lenders
shall have the right to appoint a successor Agent, which shall be subject to the Borrower’s
approval (not to be unreasonably withheld or delayed) unless an Event of Default has occurred and
is continuing. If no successor Agent shall have been so appointed by the Required Lenders, and
shall have accepted such appointment, within 30 days after the retiring Agent’s giving of notice of
resignation or the Required Lenders’ removal of the retiring Agent, then the retiring Agent may, on
behalf of the Lenders, appoint a successor Agent, which shall be a commercial bank organized under
the laws of the United States of America or of any State thereof and having a combined capital and
surplus of at least $500,000,000 and which shall be subject to the Borrower’s approval (not to be
unreasonably withheld or delayed) unless an Event of Default has occurred and is continuing.

          (b) Upon the acceptance of any appointment as Agent hereunder by a successor Agent, such
successor Agent shall thereupon succeed to and become vested with all the rights, powers,
discretion, privileges and duties of the retiring Agent, and the retiring Agent shall be discharged
from its duties and obligations under this Agreement arising thereafter. After any retiring
Agent’s resignation or removal hereunder as Agent, the provisions of this Article VII shall inure
to its benefit as to any actions taken or omitted to be taken by it while it was Agent under this
Agreement.

          SECTION 7.07. Other Agents. Each Lender hereby acknowledges that neither the
syndication agents nor any other Lender designated as any “agent” on the cover or signature pages
hereof has any liability hereunder other than in its capacity as a Lender.

ARTICLE VIII

MISCELLANEOUS

          SECTION 8.01. Amendments, Etc. No amendment or waiver of any provision of this
Agreement or the Notes, nor consent to any departure by the Borrower therefrom, shall in any event
be effective unless the same shall be in writing and signed by the Required Lenders and (with
respect to amendments) the Borrower, and then such waiver or consent shall be effective only in the
specific instance and for the specific purpose for which given; provided, however,
that (a) no amendment, waiver or consent shall, unless in writing and signed by all the Lenders, do
any of the following: (i) waive any of the conditions specified in Section 3.01, (ii) change the
percentage of the Revolving Credit Commitments or of the aggregate unpaid principal amount of the
Advances, or the number of Lenders (including as set forth in the definition of Required Lenders)
that shall be required for the Lenders or any of them to take any action hereunder or (iii) amend
this Section 8.01; (b) no amendment, waiver or consent shall, unless in writing and signed by each
Lender that is directly affected by such amendment, waiver or consent, (i) other than as provided
in Sections 2.18 or 2.19, increase any Commitment of such Lender, (ii) reduce or forgive the
principal of, or interest on, the Advances or any fees or other amounts payable hereunder to such
Lender, (iii) other than as provided in Section 2.19, postpone any date fixed for any payment of
principal of, or interest on, the Advances or any fees or other amounts payable hereunder to such
Lender or (iv) change Section 2.13(a) or 2.15 or the

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definition of Ratable Share in a manner that would alter the ratable sharing of payments; and
(c) no amendment, waiver or consent shall, unless in writing and signed by the Required Lenders,
the Agent and the Issuing Banks, shall change Section 2.20 or 2.21; provided,
further, that (x) no amendment, waiver or consent shall, unless in writing and signed by
the Agent in addition to the Lenders required above to take such action, affect the rights or
duties of the Agent under this Agreement or any Note and (y) no amendment, waiver or consent shall,
unless in writing and signed by the Issuing Banks in addition to the Lenders required above to take
such action, adversely affect the rights or obligations of the Issuing Banks under this Agreement.

          In addition, notwithstanding the foregoing, the consent of a Lender to an amendment (or
amendment and restatement) of this Agreement shall not be required if, upon giving effect to such
amendment (or amendment and restatement), such Lender shall no longer be a party to this Agreement
(as so amended or amended and restated), the Revolving Credit Commitment of such Lender shall have
terminated (but such Lender shall continue to be entitled to the benefits of Sections 2.11, 2.14
and 8.04 with respect to facts and circumstances occurring prior to the effective date of such
amendment or amendment and restatement), such Lender shall have no other commitment or other
obligation hereunder and shall have been paid in full all principal, interest and other amounts
owing to it or accrued for its account under this Agreement.

          SECTION 8.02. Notices, Etc. (a) All notices and other communications provided
for hereunder shall be either (x) in writing (including telecopier, electronic mail and other forms
of electronic communication) and mailed, telecopied, telegraphed, sent by electronic mail or
delivered or (y) communicated as and to the extent set forth in Section 8.02(b) and in the proviso
to this Section 8.02(a), addressed as follows: If to the Borrower, at its address at 6705
Rockledge Drive, Suite 900, Bethesda, Maryland 20817, Attention: Chief Financial Officer, with a
copy to General Counsel; if to any Initial Lender, at its Domestic Lending Office specified
opposite its name on Schedule I hereto; if to any other Lender, at its Domestic Lending
Office specified in the Assumption Agreement or the Assignment and Acceptance pursuant to which it
became a Lender; and if to the Agent, at its address at 10 South Dearborn, Floor 07, Chicago,
Illinois 60603-2003, Attention: Joyce King, with a copy to 395 North Service Road, 3rd Floor,
Melville, New York 11747, Attention: Alicia Schreibstein; or, as to the Borrower or the Agent, at
such other address as shall be designated by such party in a written notice to the other parties
and, as to each other party, at such other address as shall be designated by such party in a
written notice to the Borrower and the Agent; provided that materials required to be
delivered pursuant to Section 5.01(i)(i), (ii) or (iii) shall be delivered to the Agent as
specified in Section 8.02(b) or as otherwise specified to the Borrower by the Agent. All such
notices and communications shall, when mailed, telecopied, telegraphed or e-mailed, be effective
when deposited in the mails, telecopied, delivered to the telegraph company or confirmed by e-mail,
respectively, except that notices and communications to the Agent pursuant to Article II, III or
VII shall not be effective until received by the Agent. Delivery by telecopier or e-mail of an
executed counterpart of any amendment or waiver of any provision of this Agreement or the Notes or
of any Exhibit hereto to be executed and delivered hereunder shall be effective as delivery of a
manually executed counterpart thereof.

          (b) So long as JPMCB or any of its Affiliates is the Agent, materials required to be
delivered pursuant to Section 5.01(i)(i), (ii) and (iii) shall be either (x) delivered to the Agent
in an electronic medium in a format acceptable to the Agent and the Lenders by e-mail at

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large.corporate.agency@jpmchase.com or (y) deemed to have been delivered when the Borrower
provides notice to the Agent by e-mail at
large.corporate.agency@jpmchase.com that such materials
are posted on the SEC’s website at www.sec.gov. The Borrower agrees that the Agent may make such
materials, as well as any other written information, documents, instruments and other material
relating to the Borrower, any of its Subsidiaries or any other materials or matters relating to
this Agreement, the Notes or any of the transactions contemplated hereby (collectively, the
“Communications”) available to the Lenders by posting such notices on Intralinks or a
substantially similar electronic system (the “Platform”). The Borrower acknowledges that
(i) the distribution of material through an electronic medium is not necessarily secure and that
there are confidentiality and other risks associated with such distribution, (ii) the Platform is
provided “as is” and “as available” and (iii) neither the Agent nor any of its Affiliates warrants
the accuracy, adequacy or completeness of the Communications or the Platform and each expressly
disclaims liability for errors or omissions in the Communications or the Platform. No warranty of
any kind, express, implied or statutory, including any warranty of merchantability, fitness for a
particular purpose, non-infringement of third party rights or freedom from viruses or other code
defects, is made by the Agent or any of its Affiliates in connection with the Platform.

          (c) Each Lender agrees that notice to it (as provided in the next sentence) (a
“Notice”) specifying that any Communications have been posted to the Platform shall
constitute effective delivery of such information, documents or other materials to such Lender for
purposes of this Agreement; provided that, if requested by any Lender, the Agent shall
deliver a copy of the Communications to such Lender by email or telecopier. Each Lender agrees (i)
to notify the Agent in writing of such Lender’s e-mail address to which a Notice may be sent by
electronic transmission (including by electronic communication) on or before the date such Lender
becomes a party to this Agreement (and from time to time thereafter to ensure that the Agent has on
record an effective e-mail address for such Lender) and (ii) that any Notice may be sent to such
e-mail address.

          SECTION 8.03. No Waiver; Remedies. No failure on the part of any Lender or the
Agent to exercise, and no delay in exercising, any right hereunder or under any Note shall operate
as a waiver thereof; nor shall any single or partial exercise of any such right preclude any other
or further exercise thereof or the exercise of any other right. The remedies herein provided are
cumulative and not exclusive of any remedies provided by law.

          SECTION 8.04. Costs and Expenses. (a) The Borrower agrees to pay on demand all
reasonable costs and expenses of the Agent in connection with the preparation, execution, delivery,
administration, modification and amendment of this Agreement, the Notes and the other documents to
be delivered hereunder, including (A) all due diligence, syndication (including printing,
distribution and bank meetings), transportation, computer, duplication, appraisal, consultant and
audit expenses (subject to any limitations thereon previously agreed by the Borrower and the Agent)
and (B) the reasonable fees and expenses of counsel for the Agent with respect thereto and with
respect to advising the Agent as to its rights and responsibilities under this Agreement;
provided, however, that, so long as no Default shall have occurred and be
continuing, the Borrower shall not be responsible for the fees and expenses of more than one firm.
The Borrower further agrees to pay on demand all costs and expenses of the Agent and the Lenders,
if any (including reasonable counsel fees and expenses), in connection with the

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enforcement (whether through negotiations, legal proceedings or otherwise) of this Agreement,
the Notes and the other documents to be delivered hereunder, including reasonable fees and expenses
of counsel for the Agent and each Lender in connection with the enforcement of rights under this
Section 8.04(a).

          (b) The Borrower agrees to indemnify and hold harmless the Agent and each Lender and each
of their Affiliates and their officers, directors, employees, agents and advisors (each, an
“Indemnified Party”) from and against any and all claims, damages, losses, liabilities and
expenses (including reasonable fees and expenses of counsel) incurred by or asserted or awarded
against any Indemnified Party, in each case arising out of or in connection with or by reason of
(including in connection with any investigation, litigation or proceeding or preparation of a
defense in connection therewith) the Notes, this Agreement, any of the transactions contemplated
herein or the actual or proposed use of the proceeds of the Advances, except to the extent such
claim, damage, loss, liability or expense is found in a final, non-appealable judgment by a court
of competent jurisdiction to have resulted from such Indemnified Party’s gross negligence, willful
misconduct or material breach in bad faith of its express contractual obligations hereunder. In
the case of an investigation, litigation or other proceeding to which the indemnity in this Section
8.04(b) applies, such indemnity shall be effective whether or not such investigation, litigation or
proceeding is brought by the Borrower, its directors, equityholders or creditors or an Indemnified
Party or any other Person, whether or not any Indemnified Party is otherwise a party thereto and
whether or not the transactions contemplated hereby are consummated. The Borrower also agrees not
to assert any claim for special, indirect, consequential or punitive damages against the Agent, any
Lender, any of their Affiliates, or any of their respective directors, officers, employees,
attorneys and agents, on any theory of liability, arising out of or otherwise relating to the
Notes, this Agreement, any of the transactions contemplated herein or the actual or proposed use of
the proceeds of the Advances. The Borrower further agrees to pay any civil penalty or fine
assessed by OFAC against the Agent or any Lender, and all reasonable costs and expenses (including
reasonable counsel fees and expenses) incurred in connection with the defense thereof, as a result
of conduct by the Borrower that violates a sanction enforced by OFAC.

          (c) If any payment of principal of, or Conversion of, any Eurodollar Rate Advance is made
by the Borrower to or for the account of a Lender other than on the last day of the Interest Period
for such Advance, as a result of a payment or Conversion pursuant to Section 2.08(e), 2.10 or 2.12,
acceleration of the maturity of the Notes pursuant to Section 6.01 or for any other reason, or by
an Eligible Assignee to a Lender other than on the last day of the Interest Period for such Advance
upon an assignment of rights and obligations under this Agreement pursuant to Section 8.07 as a
result of a demand by the Borrower pursuant to Section 8.07(a), the Borrower shall, upon demand by
such Lender (with a copy of such demand to the Agent), pay to the Agent for the account of such
Lender any amounts required to compensate such Lender for any additional losses, costs or expenses
that it may reasonably incur as a result of such payment or Conversion, including any loss
(including loss of anticipated profits), cost or expense incurred by reason of the liquidation or
reemployment of deposits or other funds acquired by any Lender to fund or maintain such Advance
(but without duplication of any obligation of the Borrower under Section 2.11 or any other
provision of this Agreement).

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          (d) Without prejudice to the survival of any other agreement of the Borrower hereunder,
the agreements and obligations of the Borrower contained in Sections 2.11, 2.14 and 8.04 shall
survive the payment in full of principal, interest and all other amounts payable hereunder and
under the Notes.

          SECTION 8.05. Right of Setoff. Upon (i) the occurrence and during the continuance
of any Event of Default and (ii) the making of the request or the granting of the consent specified
by Section 6.01 to authorize the Agent to declare the Notes due and payable pursuant to the
provisions of Section 6.01, each Lender and each of its Affiliates is hereby authorized at any time
and from time to time, to the fullest extent permitted by law, to set off and apply any and all
deposits (general or special, time or demand, provisional or final) at any time held and other
indebtedness at any time owing by such Lender or such Affiliate to or for the credit or the account
of the Borrower against any and all of the obligations of the Borrower now or hereafter existing
under this Agreement and the Note held by such Lender, whether or not such Lender shall have made
any demand under this Agreement or such Note and although such obligations may be unmatured;
provided that, in the event that any Defaulting Lender shall exercise any such right of
setoff, (x) all amounts so set off shall be paid over immediately to the Agent for further
application in accordance with the provisions of Section 2.20 and, pending such payment, shall be
segregated by such Defaulting Lender from its other funds and deemed held in trust for the benefit
of the Agent, the Issuing Banks and the Lenders, and (y) the Defaulting Lender shall provide
promptly to the Agent a statement describing in reasonable detail the obligations owing to such
Defaulting Lender as to which it exercised such right of setoff. Each Lender agrees promptly to
notify the Borrower after any such setoff and application; provided that the failure to
give such notice shall not affect the validity of such setoff and application. The rights of each
Lender and its Affiliates under this Section are in addition to other rights and remedies
(including other rights of setoff) that such Lender and its Affiliates may have. Notwithstanding
anything to the contrary contained herein or in any other Loan Document, each Lender expressly
waives its right of setoff (and any similar right including bankers’ liens) with respect to deposit
accounts in which have been deposited payments received under Medicare, Medicaid, TRICARE and other
health care programs of the United States or any state (including the District of Columbia) thereof
and any agency or other Governmental Authority thereof.

          SECTION 8.06. Binding Effect. This Agreement shall become effective (other than
Section 2.01, which shall only become effective upon satisfaction of the conditions precedent set
forth in Section 3.01) when it shall have been executed by the Borrower and the Agent and when the
Agent shall have been notified by each Initial Lender that such Initial Lender has executed it and
thereafter shall be binding upon and inure to the benefit of the Borrower, the Agent and each
Lender and their respective successors and assigns, except that the Borrower shall not have the
right to assign its rights hereunder or any interest herein without the prior written consent of
the Lenders.

          SECTION 8.07. Assignments and Participations. (a) Each Lender may and, if
demanded by the Borrower (following a demand by such Lender pursuant to Section 2.11 or 2.14 or a
suspension of Eurodollar Rate Advances pursuant to Section 2.12 and only if no Event of Default has
occurred and is continuing) upon at least five Business Days’ notice to such Lender and the Agent,
will assign to one or more Persons (other than an Ineligible Institution) all or a

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portion of its rights and obligations under this Agreement (including all or a portion of its
Revolving Credit Commitment or Letter of Credit Commitment, the Advances owing to it, its
participations in Letters of Credit and the Note or Notes held by it); provided,
however, that (i) each such assignment shall be of a constant, and not a varying,
percentage of all rights and obligations under and in respect of the Facilities so assigned, (ii)
except in the case of an assignment to a Person that, immediately prior to such assignment, was a
Lender or an Affiliate of a Lender or an assignment of all of a Lender’s rights and obligations
under this Agreement, the amount of the Revolving Credit Commitment of the assigning Lender being
assigned pursuant to each such assignment (determined as of the date of the Assignment and
Acceptance with respect to such assignment) shall in no event be less than $10,000,000 or an
integral multiple of $1,000,000 in excess thereof, unless the Borrower and the Agent otherwise
agree, (iii) each such assignment shall be to an Eligible Assignee, (iv) each such assignment made
as a result of a demand by the Borrower pursuant to this Section 8.07(a) shall be arranged by the
Borrower after consultation with the Agent and shall be either an assignment of all of the rights
and obligations of the assigning Lender under this Agreement or an assignment of a portion of such
rights and obligations made concurrently with another such assignment or other such assignments
that together cover all of the rights and obligations of the assigning Lender under this Agreement,
(v) no Lender shall be obligated to make any such assignment as a result of a demand by the
Borrower pursuant to this Section 8.07(a) unless and until such Lender shall have received, as
consideration for such assignment, one or more payments from either the Borrower or one or more
Eligible Assignees in an aggregate amount at least equal to the aggregate outstanding principal
amount of the Advances owing to such Lender, together with accrued interest thereon to the date of
payment of such principal amount and all other amounts payable to such Lender under this Agreement,
and (vi) the parties to each such assignment shall execute and deliver to the Agent, for its
acceptance and recording in the Register, an Assignment and Acceptance, together with any Note
subject to such assignment and a processing and recordation fee of $3,500 payable by the parties to
each such assignment other than the Borrower; provided, however, that in the case
of each assignment made as a result of a demand by the Borrower, such recordation fee shall be
payable by the Borrower except that no such recordation fee shall be payable in the case of an
assignment made at the request of the Borrower to an Eligible Assignee that is an existing Lender.
Upon such execution, delivery, acceptance and recording, from and after the effective date
specified in each Assignment and Acceptance, (x) the assignee thereunder shall be a party hereto
and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such
Assignment and Acceptance, have the rights and obligations of a Lender hereunder and (y) the Lender
assignor thereunder shall, to the extent that rights and obligations hereunder have been assigned
by it pursuant to such Assignment and Acceptance, relinquish its rights (other than its rights
under Sections 2.11, 2.14 and 8.04 to the extent any claim thereunder relates to an event arising
prior to such assignment) and be released from its obligations under this Agreement (and, in the
case of an Assignment and Acceptance covering all or the remaining portion of an assigning Lender’s
rights and obligations under this Agreement, such Lender shall cease to be a party hereto).

          (b) By executing and delivering an Assignment and Acceptance, the Lender assignor
thereunder and the assignee thereunder confirm to and agree with each other and the other parties
hereto as follows: (i) other than as provided in such Assignment and Acceptance, such assigning
Lender makes no representation or warranty and assumes no responsibility with respect to any
statements, warranties or representations made in or in connection with this

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Agreement or the execution, legality, validity, enforceability, genuineness, sufficiency or
value of, or the perfection or priority of any lien or security interest created or purported to be
created under or in connection with, this Agreement or any other instrument or document furnished
pursuant hereto; (ii) such assigning Lender makes no representation or warranty and assumes no
responsibility with respect to the financial condition of the Borrower or the performance or
observance by the Borrower of any of its obligations under this Agreement or any other instrument
or document furnished pursuant hereto; (iii) such assignee confirms that it has received a copy of
this Agreement, together with copies of the financial statements referred to in Section 4.01 and
such other documents and information as it has deemed appropriate to make its own credit analysis
and decision to enter into such Assignment and Acceptance; (iv) such assignee will, independently
and without reliance upon the Agent, such assigning Lender or any other Lender and based on such
documents and information as it shall deem appropriate at the time, continue to make its own credit
decisions in taking or not taking action under this Agreement; (v) such assignee confirms that it
is an Eligible Assignee; (vi) such assignee appoints and authorizes the Agent to take such action
as agent on its behalf and to exercise such powers and discretion under this Agreement as are
delegated to the Agent by the terms hereof, together with such powers and discretion as are
reasonably incidental thereto; and (vii) such assignee agrees that it will perform in accordance
with their terms all of the obligations that by the terms of this Agreement are required to be
performed by it as a Lender.

          (c) Upon its receipt of an Assignment and Acceptance executed by an assigning Lender and
an assignee representing that it is an Eligible Assignee, together with any Note or Notes subject
to such assignment, the Agent shall, if such Assignment and Acceptance has been completed and is in
substantially the form of Exhibit C hereto, (i) accept such Assignment and Acceptance, (ii)
record the information contained therein in the Register and (iii) give prompt notice thereof to
the Borrower.

          (d) In connection with any assignment of rights and obligations of any Defaulting Lender
hereunder, no such assignment shall be effective unless and until, in addition to the other
conditions thereto set forth herein, the parties to the assignment shall make such additional
payments to the Agent in an aggregate amount sufficient, upon distribution thereof as appropriate
(which may be outright payment, purchases by the assignee of participations or subparticipations,
or other compensating actions, including funding, with the consent of the Borrower and the Agent,
the applicable Ratable Share of Advances previously requested but not funded by such Defaulting
Lender, to each of which the applicable assignee and assignor hereby irrevocably consent), to (x)
pay and satisfy in full all payment liabilities then owed by such Defaulting Lender to the Agent,
each Issuing Bank and each other Lender hereunder (and interest accrued thereon), and (y) acquire
(and fund as appropriate) its full Ratable Share of all Advances and participations in Letters of
Credit. Notwithstanding the foregoing, in the event that any assignment of rights and obligations
of any Defaulting Lender hereunder shall become effective under applicable law without compliance
with the provisions of this paragraph, then the assignee of such interest shall be deemed to be a
Defaulting Lender for all purposes of this Agreement until such compliance occurs. Except to the
extent otherwise expressly agreed by the affected parties, no assignment by a Defaulting Lender
will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s
having been a Defaulting Lender.

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          (e) The Agent shall maintain at its address referred to in Section 8.02 a copy of each
Assumption Agreement and each Assignment and Acceptance delivered to and accepted by it and a
register for the recordation of the names and addresses of the Lenders and the Commitment of, and
principal amount of the Advances owing to, each Lender from time to time (the “Register”).
The entries in the Register shall be conclusive and binding for all purposes, absent manifest
error, and the Borrower, the Agent and the Lenders may treat each Person whose name is recorded in
the Register as a Lender hereunder for all purposes of this Agreement. The Register shall be
available for inspection by the Borrower or any Lender at any reasonable time and from time to time
upon reasonable prior notice.

          (f) Each Lender may sell participations to one or more banks or other entities (other than
the Borrower or any of its Affiliates or an Ineligible Institution) in or to all or a portion of
its rights and obligations under this Agreement (including all or a portion of its Commitment, the
Advances owing to it and any Note or Notes held by it); provided, however, that (i)
such Lender’s obligations under this Agreement (including its Commitment to the Borrower hereunder)
shall remain unchanged, (ii) such Lender shall remain solely responsible to the other parties
hereto for the performance of such obligations, (iii) such Lender shall remain the holder of any
such Note for all purposes of this Agreement, (iv) the Borrower, the Agent and the other Lenders
shall continue to deal solely and directly with such Lender in connection with such Lender’s rights
and obligations under this Agreement and (v) no participant under any such participation shall have
any right to approve any amendment or waiver of any provision of this Agreement or any Note, or any
consent to any departure by the Borrower therefrom, except to the extent that such amendment,
waiver or consent would reduce the principal of, or interest on, the Notes or any fees or other
amounts payable hereunder subject to such participation, in each case to the extent subject to such
participation, or postpone any date fixed for any payment of principal of, or interest on, the
Notes or any fees or other amounts payable hereunder, in each case to the extent subject to such
participation. The Borrower agrees that each participant shall be entitled to the benefits of
Sections 2.11, 2.14 and 8.04(c) (subject to the requirements and limitations therein, including the
requirements under Section 2.14(e) (it being understood that the documentation required under
Section 2.14(e) shall be delivered to the participating Lender)) to the same extent as if it were a
Lender and had acquired its interest by assignment pursuant to paragraph (b) of this Section;
provided that such participant (A) agrees to be subject to the provisions of Sections 2.15
and 2.22, as if it were an assignee under paragraph (b) of this Section, and (B) shall not be
entitled to receive any greater payment under Sections 2.11 or 2.14, with respect to any
participation, than its participating Lender would have been entitled to receive. To the extent
permitted by law, each participant also shall be entitled to the benefits of Section 8.05 as though
it were a Lender, provided such participant agrees to be subject to Section 2.15 as though it were
a Lender.

          (g) Notwithstanding any other provision set forth in this Agreement, any Lender may at any
time create a security interest in all or any portion of its rights under this Agreement (including
the Advances owing to it and any Note or Notes held by it) in favor of any Federal Reserve Bank in
accordance with Regulation A of the Board.

          (h) Notwithstanding anything to the contrary contained herein, if at any time any Lender
that is also an Issuing Bank assigns all of its Revolving Credit Commitment and Advances pursuant
to subsection (a) above, such Lender may, upon 30 days’ notice to the

67

 

Borrower and the Lenders, resign as Issuing Bank. In the event of any such resignation as
Issuing Bank, the Borrower shall be entitled to appoint from among the Lenders a successor Issuing
Bank hereunder; provided, however, that no failure by the Borrower to appoint any
such successor shall affect the resignation of such Lender as Issuing Bank. If any such Lender
resigns as Issuing Bank, it shall retain all the rights and obligations of an Issuing Bank
hereunder with respect to all Letters of Credit issued by it in such capacity outstanding as of the
effective date of its resignation as Issuing Bank (including the right to require the Lenders to
make Advances or fund participations in respect thereof pursuant to Section 2.03(b)).

          SECTION 8.08. Confidentiality. Each of the Agent, the Lenders and each Issuing
Bank agrees to maintain the confidentiality of the Borrower Information (as defined below), except
that Borrower Information may be disclosed (a) to its Affiliates and to its and its Affiliates’
respective managers, administrators, trustees, partners, directors, officers, employees, agents,
advisors and other representatives on a “need to know basis” (it being understood that the Persons
to whom such disclosure is made will be informed of the confidential nature of such Borrower
Information and instructed to keep such Borrower Information confidential), (b) to the extent
requested by any regulatory authority purporting to have jurisdiction over it or its Affiliates
(including any self-regulatory authority, such as the National Association of Insurance
Commissioners), (c) to the extent required by applicable laws or regulations or by any subpoena or
similar legal process, (d) to any other party to this Agreement, (e) in connection with the
exercise of any remedies hereunder or under any other Loan Document or any action or proceeding
relating to this Agreement or any other Loan Document or the enforcement of rights hereunder or
thereunder, (f) subject to an agreement containing provisions substantially the same as those of
this Section 8.08, to (i) any assignee of or participant in, or any prospective assignee of or
participant in, any of its rights or obligations under this Agreement or (ii) any actual or
prospective party (or its managers, administrators, trustees, partners, directors, officers,
employees, agents, advisors and other representatives) to any swap or derivative or similar
transaction under which payments are to be made by reference to the Borrower and its obligations,
this Agreement or payments hereunder, (iii) any rating agency in connection with the rating of the
Borrower or its obligations, or (iv) the CUSIP Service Bureau or any similar organization, (g) with
the consent of the Borrower or (h) to the extent such Borrower Information (x) becomes publicly
available other than as a result of a breach of this Section 8.08 or (y) becomes available to the
Agent, any Lender, any Issuing Bank or any of their respective Affiliates on a nonconfidential
basis from a source other than the Borrower.

          For purposes of this Section 8.08, “Borrower Information” means all information
received from the Borrower or any of its Subsidiaries relating to the Borrower or any of its
Subsidiaries or any of their respective businesses, other than any such information that is
available to the Agent, any Lender or any Issuing Bank on a nonconfidential basis prior to
disclosure by the Borrower or any of its Subsidiaries; provided that, in the case of
information received from the Borrower or any of its Subsidiaries after the date hereof, such
information is clearly identified at the time of delivery as confidential. Any Person required to
maintain the confidentiality of Borrower Information as provided in this Section shall be
considered to have complied with its obligation to do so if such Person has exercised the same
degree of care to maintain the confidentiality of such Borrower Information as such Person would
accord to its own confidential information.

68

 

          SECTION 8.09. Governing Law. This Agreement and the Notes shall be governed by,
and construed in accordance with, the laws of the State of New York.

          SECTION 8.10. Execution in Counterparts. This Agreement may be executed in any
number of counterparts and by different parties hereto in separate counterparts, each of which when
so executed shall be deemed to be an original and all of which taken together shall constitute one
and the same agreement. Delivery of an executed counterpart of a signature page to this Agreement
by telecopier or any other electronic means that reproduces an image of the actual executed
signature page shall be effective as delivery of a manually executed counterpart of this Agreement.

          SECTION 8.11. Jurisdiction, Etc. (a) The Borrower hereby irrevocably and
unconditionally submits, for itself and its property, to the exclusive jurisdiction of any New York
State court or federal court of the United States of America sitting in New York City, and any
appellate court from any thereof, in any action or proceeding arising out of or relating to this
Agreement or the Notes, or for recognition or enforcement of any judgment, and each of the parties
hereto hereby irrevocably and unconditionally agrees that all claims in respect of any such action
or proceeding may be heard and determined in any such New York State court or, to the extent
permitted by law, in such federal court. The Borrower hereby consents to the service of process in
any action or proceeding in such courts by the mailing thereof by any parties hereto by registered
or certified mail, postage prepaid, to the Borrower at its address specified pursuant to Section
8.02. Each of the parties hereto agrees that a final judgment in any such action or proceeding
shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any
other manner provided by law. Nothing in this Agreement shall affect any right that the Agent or
any Lender may otherwise have to bring any action or proceeding relating to this Agreement or the
Notes in the courts of any jurisdiction.

          (b) Each of the parties hereto irrevocably and unconditionally waives, to the fullest
extent it may legally and effectively do so, any objection that it may now or hereafter have to the
laying of venue of any suit, action or proceeding arising out of or relating to this Agreement or
the Notes in any New York State or federal court. Each of the parties hereto hereby irrevocably
waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the
maintenance of such action or proceeding in any such court.

          SECTION 8.12. No Liability of the Issuing Banks. The Borrower assumes all risks
of the acts or omissions of any beneficiary or transferee of any Letter of Credit with respect to
its use of such Letter of Credit. Neither an Issuing Bank nor any of its officers or directors
shall be liable or responsible for: (a) the use that may be made of any Letter of Credit or any
acts or omissions of any beneficiary or transferee in connection therewith; (b) the validity,
sufficiency or genuineness of documents, or of any endorsement thereon, even if such documents
should prove to be in any or all respects invalid, insufficient, fraudulent or forged; (c) payment
by such Issuing Bank against presentation of documents that do not comply with the terms of a
Letter of Credit, including failure of any documents to bear any reference or adequate reference to
the Letter of Credit; or (d) any other circumstances whatsoever in making or failing to make
payment under any Letter of Credit; provided that the Borrower shall have a claim against
such Issuing Bank, and such Issuing Bank shall be liable to the Borrower, to the extent of any
direct, but not special, indirect, consequential or punitive, damages suffered by the Borrower that
the

69

 

Borrower proves were caused by (i) such Issuing Bank’s willful misconduct, gross negligence or
material breach in bad faith of its express contractual obligations hereunder in determining
whether documents presented under any Letter of Credit comply with the terms of the Letter of
Credit or (ii) such Issuing Bank’s willful failure to make lawful payment under a Letter of Credit
after the presentation to it of a draft and certificates strictly complying with the terms and
conditions of the Letter of Credit. In furtherance and not in limitation of the foregoing, such
Issuing Bank may accept documents that appear on their face to be in order, without responsibility
for further investigation.

          SECTION 8.13. Patriot Act Notice. Each Lender and the Agent (for itself and not
on behalf of any Lender) hereby notifies the Borrower that pursuant to the requirements of the
Patriot Act, it is required to obtain, verify and record information that identifies the Borrower,
which information includes the name and address of the Borrower and other information that will
allow such Lender or the Agent, as applicable, to identify the Borrower in accordance with the
Patriot Act. The Borrower shall provide, to the extent commercially reasonable, such information
and take such actions as are reasonably requested by the Agent or any Lenders in order to assist
the Agent and the Lenders in maintaining compliance with the Patriot Act.

          SECTION 8.14. Waiver of Jury Trial. Each of the Borrower, the Agent and the
Lenders hereby irrevocably waives all right to trial by jury in any action, proceeding or
counterclaim (whether based on contract, tort or otherwise) arising out of or relating to this
Agreement or the Notes or the actions of the Agent or any Lender in the negotiation,
administration, performance or enforcement thereof.

          SECTION 8.15. No Fiduciary Duty. The Agent, each Lender and their Affiliates
(collectively, solely for purposes of this Section, the “Lenders”), may have economic interests
that conflict with those of the Borrower, its stockholders and/or its Affiliates. The Borrower
agrees that nothing in the Loan Documents or otherwise will be deemed to create an advisory,
fiduciary or agency relationship or fiduciary or other implied duty between any Lender, on the one
hand, and the Borrower, its stockholders or its Affiliates, on the other. The Borrower
acknowledges and agrees that (a) the transactions contemplated by the Loan Documents (including the
exercise of rights and remedies hereunder and thereunder) are arm’s-length commercial transactions
between the Lenders, on the one hand, and the Borrower, on the other, and (b) in connection
therewith and with the process leading thereto, (i) no Lender has assumed an advisory or fiduciary
responsibility in favor of the Borrower, its stockholders or its Affiliates with respect to the
transactions contemplated hereby (or the exercise of rights or remedies with respect thereto) or
the process leading thereto (irrespective of whether any Lender has advised, is currently advising
or will advise the Borrower, its stockholders or its Affiliates on other matters) or any other
obligation to the Borrower except the obligations expressly set forth in the Loan Documents and
(ii) each Lender is acting solely as principal and not as the agent or fiduciary of the Borrower,
its management, stockholders, creditors or any other Person. The Borrower acknowledges and agrees
that it has consulted its own legal and financial advisors to the extent it deemed appropriate and
that it is responsible for making its own independent judgment with respect to such transactions
and the process leading thereto. The Borrower agrees that it will not claim that any Lender has
rendered advisory services of any nature or respect, or owes a

70

 

fiduciary or similar duty, to the Borrower in connection with such transaction or the process
leading thereto.

          SECTION 8.16. Severability. Any provision of this Agreement held to be invalid,
illegal or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the
extent of such invalidity, illegality or unenforceability without affecting the validity, legality
and enforceability of the remaining provisions hereof; and the invalidity of a particular provision
in a particular jurisdiction shall not invalidate such provision in any other jurisdiction.

[Remainder of Page Intentionally Left Blank; Signature Pages Follow]

71

 

          IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their
respective officers thereunto duly authorized, as of the date first above written.

	 	 	 	 	 
	 	COVENTRY HEALTH CARE, INC.,

as Borrower

 	 
	 	By:  	/s/
Randy P. Giles 	 
	 	 	Name: Randy P. Giles	 
	 	 	Title:   Executive Vice
President,

            Chief
Financial Officer and Treasurer	 
	 

[Signature Page to Credit Agreement]

 

 

	 	 	 	 	 
	 	JPMORGAN CHASE BANK, NATIONAL 

ASSOCIATION,

as Agent

 	 
	 	By:  	/s/
Alicia T. Schreibstein 	 
	 	 	Name: Alicia T. Schreibstein	 
	 	 	Title:   Vice President	 
	 

[Signature Page to Credit Agreement]

 

 

	 	 	 	 	 
	 	INITIAL LENDERS:

JPMORGAN CHASE BANK, NATIONAL ASSOCIATION

 	 
	 	By:  	/s/
Alicia T. Schreibstein 	 
	 	 	Name: Alicia T. Schreibstein	 
	 	 	Title:   Vice President	 
	 

[Signature Page to Credit Agreement]

 

 

	 	 	 	 	 
	 	CITIBANK, N.A.

 	 
	 	By:  	/s/
Maureen P. Maroney 	 
	 	 	Name: Maureen P. Maroney	 
	 	 	Title:   Authorized Signatory	 
	 

[Signature Page to Credit Agreement]

 

 

	 	 	 	 	 
	 	BANK OF AMERICA, N.A.

 	 
	 	By:  	/s/
Yinghua Zhang 	 
	 	 	Name: Yinghua Zhang	 
	 	 	Title:   Vice
President	 
	 

[Signature Page to Credit Agreement]

 

 

	 	 	 	 	 
	 	BARCLAYS BANK PLC

 	 
	 	By:  	/s/
Alicia Borys 	 
	 	 	Name: Alicia Borys	 
	 	 	Title:   Vice President	 
	 

[Signature Page to Credit Agreement]

 

 

	 	 	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION

 	 
	 	By:  	/s/
Andrea S. Chen 	 
	 	 	Name: Andrea S. Chen	 
	 	 	Title:   Director	 
	 

[Signature Page to Credit Agreement]

 

 

	 	 	 	 	 
	 	GOLDMAN SACHS BANK USA

 	 
	 	By:  	/s/
Mark Walton 	 
	 	 	Name: Mark Walton	 
	 	 	Title:   Authorized
Signatory	 
	 

[Signature Page to Credit Agreement]

 

 

	 	 	 	 	 	 
	 	UBS LOAN FINANCE LLC

 	 
	 	By:  	/s/
Irja R. Otsa 	 	/s/
April Varner-Nanton 
	 	 	Name: Irja R. Otsa	 	April Varner-Nanton
	 	 	Title:   Associate Director

            Banking
Products Services, US	 	Director

Banking
Products Services, US
	 

[Signature Page to Credit Agreement]

 

 

	 	 	 	 	 
	 	U.S. BANK NATIONAL ASSOCIATION

 	 
	 	By:  	/s/
John M. Langenderfer 	 
	 	 	Name: John M. Langenderfer	 
	 	 	Title:   Senior Vice President	 
	 

[Signature Page to Credit Agreement]

 

 

	 	 	 	 	 
	 	UNION BANK, N.A.

 	 
	 	By:  	/s/
Michael Tschida 	 
	 	 	Name: Michael Tschida	 
	 	 	Title:   Vice
President	 
	 

[Signature Page to Credit Agreement]

 

 

	 	 	 	 	 
	 	FIFTH THIRD BANK

 	 
	 	By:  	/s/
Michelle J. Bahner 	 
	 	 	Name: Michelle J. Bahner	 
	 	 	Title:   Vice
President	 
	 

[Signature Page to Credit Agreement]

 

 

	 	 	 	 	 
	 	BB&T BANK

 	 
	 	By:  	/s/
Glenn A. Page 	 
	 	 	Name: Glenn A. Page	 
	 	 	Title:   Senior Vice President	 
	 

[Signature Page to Credit Agreement]

 

 

	 	 	 	 	 	 
	 	CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH

 	 
	 	By:  	/s/
Ari Bruger 	 	/s/
Rahul Parmer
	 	 	Name: Ari Bruger	 	Rahul Parmer
	 	 	Title:   Vice
President	 	Associate
	 

[Signature Page to Credit Agreement]

 

 

	 	 	 	 	 
	 	UMB BANK, N.A.

 	 
	 	By:  	/s/
Kurt Kastendick 	 
	 	 	Name: Kurt Kastendick	 
	 	 	Title:   Sr. Vice
President	 
	 

[Signature Page to Credit Agreement]

 

 

	 	 	 	 	 
	 	CHANG HWA COMMERCIAL BANK LTD.,
 NEW YORK BRANCH

 	 
	 	By:  	/s/
Eric Y.S. Tsai 	 
	 	 	Name: Eric Y.S. Tsai	 
	 	 	Title:   V.P. &
General Manager	 
	 

[Signature Page to Credit Agreement]

 

 

	 	 	 	 	 
	 	E. SUN COMMERCIAL BANK, LTD., LOS ANGELES BRANCH

 	 
	 	By:  	/s/
Edward Chen 	 
	 	 	Name: Edward Chen	 
	 	 	Title:   VP &
General Manager	 
	 

[Signature Page to Credit Agreement]

 

 

	 	 	 	 	 
	 	INITIAL ISSUING BANKS:

JPMORGAN CHASE BANK, NATIONAL ASSOCIATION

 	 
	 	By:  	/s/
Alicia T. Schreibstein 	 
	 	 	Name: Alicia T. Schreibstein	 
	 	 	Title:   Vice
President	 
	 

[Signature Page to Credit Agreement]

 

 

	 	 	 	 	 
	 	CITIBANK, N.A.

 	 
	 	By:  	/s/
Maureen P. Maroney 	 
	 	 	Name: Maureen P. Maroney	 
	 	 	Title:   Authorized
Signatory	 
	 

[Signature Page to Credit Agreement]

 

 

	 	 	 	 	 
	 	BANK OF AMERICA, N.A.

 	 
	 	By:  	/s/
Yinghua Zhang 	 
	 	 	Name: Yinghua Zhang	 
	 	 	Title:   Vice
President	 
	 

[Signature Page to Credit Agreement]exv4w1

Exhibit 4.1

 

INSULET CORPORATION

AND

WELLS
FARGO BANK, National Association,

as Trustee

INDENTURE

Dated as of June •, 2011

__.__% Convertible Senior Notes due 2016

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	 	Page	 
	ARTICLE 1

	Definitions

	 
	 	 	 	 
	Section 1.01. Definitions
	 	 	1	 
	Section 1.02. References to Interest
	 	 	12	 
	 
	 	 	 	 
	ARTICLE 2

	Issue, Description, Execution, Registration and Exchange of Notes

	 
	 	 	 	 
	Section 2.01. Designation and Amount
	 	 	12	 
	Section 2.02. Form of Notes
	 	 	12	 
	Section 2.03. Date and Denomination of Notes; Payments of Interest and Defaulted Amounts
	 	 	13	 
	Section 2.04. Execution, Authentication and Delivery of Notes
	 	 	14	 
	Section 2.05. Exchange and Registration of Transfer of Notes; Depositary
	 	 	15	 
	Section 2.06. Mutilated, Destroyed, Lost or Stolen Notes
	 	 	17	 
	Section 2.07. Temporary Notes
	 	 	18	 
	Section 2.08. Cancellation of Notes Paid, Converted, Etc.
	 	 	19	 
	Section 2.09. CUSIP Numbers
	 	 	19	 
	Section 2.10. Additional Notes; Purchases
	 	 	19	 
	 
	 	 	 	 
	ARTICLE 3

	Satisfaction and Discharge

	Section 3.01. Satisfaction and Discharge
	 	 	19	 
	 
	 	 	 	 
	ARTICLE 4

	Particular Covenants of the Company

	 
	 	 	 	 
	Section 4.01. Payment of Principal and Interest
	 	 	20	 
	Section 4.02. Maintenance of Office or Agency
	 	 	20	 
	Section 4.03. Appointments to Fill Vacancies in Trustee’s Office
	 	 	21	 
	Section 4.04. Provisions as to Paying Agent
	 	 	21	 
	Section 4.05. Existence
	 	 	22	 
	Section 4.06. Annual Reports
	 	 	22	 
	Section 4.07. Stay, Extension and Usury Laws
	 	 	22	 
	Section 4.08. Compliance Certificate; Statements as to Defaults
	 	 	22	 
	Section 4.09. Further Instruments and Acts
	 	 	23	 

i

 

	 	 	 	 	 
	 	 	 	Page	 
	 
	 	 	 	 
	ARTICLE 5

	Lists of Holders and Reports by the Company and the Trustee

	 
	 	 	 	 
	Section 5.01. Lists of Holders
	 	 	23	 
	Section 5.02. Preservation and Disclosure of Lists
	 	 	23	 
	 
	 	 	 	 
	ARTICLE 6

	Defaults and Remedies
	 
	 	 	 	 
	Section 6.01. Events of Default
	 	 	23	 
	Section 6.02. Acceleration; Rescission and Annulment
	 	 	25	 
	Section 6.03. Additional Interest
	 	 	25	 
	Section 6.04. Payments of Notes on Default; Suit Therefor
	 	 	26	 
	Section 6.05. Application of Monies Collected by Trustee
	 	 	28	 
	Section 6.06. Proceedings by Holders
	 	 	28	 
	Section 6.07. Proceedings by Trustee
	 	 	29	 
	Section 6.08. Remedies Cumulative and Continuing
	 	 	29	 
	Section 6.09. Direction of Proceedings and Waiver of Defaults by Majority of Holders
	 	 	30	 
	Section 6.10. Notice of Defaults
	 	 	30	 
	Section 6.11. Undertaking to Pay Costs
	 	 	30	 
	 
	 	 	 	 
	ARTICLE 7

	Concerning the Trustee

	 
	 	 	 	 
	Section 7.01. Duties and Responsibilities of Trustee
	 	 	31	 
	Section 7.02. Reliance on Documents, Opinions, Etc.
	 	 	32	 
	Section 7.03. No Responsibility for Recitals, Etc.
	 	 	33	 
	Section 7.04. Trustee, Paying Agents, Conversion Agent, Bid Solicitation Agent or Note Registrar May Own Notes
	 	 	34	 
	Section 7.05. Monies and Shares of Common Stock to Be Held in Trust
	 	 	34	 
	Section 7.06. Compensation and Expenses of Trustee
	 	 	34	 
	Section 7.07. Officers’ Certificate as Evidence
	 	 	35	 
	Section 7.08. Eligibility of Trustee
	 	 	35	 
	Section 7.09. Resignation or Removal of Trustee
	 	 	35	 
	Section 7.10. Acceptance by Successor Trustee
	 	 	36	 
	Section 7.11. Succession by Merger, Etc.
	 	 	37	 
	Section 7.12. Trustee’s Application for Instructions from the Company
	 	 	 	 
	 
	 	 	 	 
	ARTICLE 8
	Concerning the Holders
	 
	 	 	 	 
	Section 8.01. Action by Holders
	 	 	37	 
	Section 8.02. Proof of Execution by Holders
	 	 	38	 
	Section 8.03. Who Are Deemed Absolute Owners
	 	 	38	 
	Section 8.04. Company-Owned Notes Disregarded
	 	 	38	 
	Section 8.05. Revocation of Consents; Future Holders Bound
	 	 	39	 

ii

 

	 	 	 	 	 
	 	 	 	Page	 
	ARTICLE 9

	Holders’ Meetings

	 
	 	 	 	 
	Section 9.01. Purpose of Meetings
	 	 	39	 
	Section 9.02. Call of Meetings by Trustee
	 	 	39	 
	Section 9.03. Call of Meetings by Company or Holders
	 	 	40	 
	Section 9.04. Qualifications for Voting
	 	 	40	 
	Section 9.05. Regulations
	 	 	40	 
	Section 9.06. Voting
	 	 	40	 
	Section 9.07. No Delay of Rights by Meeting
	 	 	41	 
	 
	 	 	 	 
	ARTICLE 10

	Supplemental Indentures

	 
	 	 	 	 
	Section 10.01. Supplemental Indentures Without Consent of Holders
	 	 	41	 
	Section 10.02. Supplemental Indentures with Consent of Holders
	 	 	42	 
	Section 10.03. Effect of Supplemental Indentures
	 	 	43	 
	Section 10.04. Notation on Notes
	 	 	43	 
	Section 10.05. Evidence of Compliance of Supplemental Indenture to Be Furnished Trustee
	 	 	43	 
	 
	 	 	 	 
	ARTICLE 11

	Consolidation, Merger, Sale, Conveyance and Lease

	 
	 	 	 	 
	Section 11.01. Company May Consolidate, Etc. on Certain Terms
	 	 	43	 
	Section 11.02. Successor Corporation to Be Substituted
	 	 	44	 
	Section 11.03. Opinion of Counsel to Be Given to Trustee
	 	 	45	 
	 
	 	 	 	 
	ARTICLE 12

	Immunity of Incorporators, Stockholders, Officers and Directors

	 
	 	 	 	 
	Section 12.01. Indenture and Notes Solely Corporate Obligations
	 	 	45	 
	 
	 	 	 	 
	ARTICLE 13

	Intentionally Omitted

	 
	 	 	 	 
	ARTICLE 14

	Conversion of Notes

	 
	 	 	 	 
	Section 14.01. Conversion Privilege
	 	 	45	 
	Section 14.02. Conversion Procedure; Settlement Upon Conversion
	 	 	48	 
	Section 14.03. Increased Conversion Rate Applicable to Certain Notes Surrendered in Connection
with Make-Whole Fundamental Changes
	 	 	52	 
	Section 14.04. Adjustment of Conversion Rate
	 	 	54	 
	Section 14.05. Adjustments of Prices
	 	 	63	 
	Section 14.06. Shares to Be Fully Paid
	 	 	63	 
	Section 14.07. Effect of Recapitalizations, Reclassifications and
Changes of the Common Stock
	 	 	63	 
	Section 14.08. Certain Covenants
	 	 	65	 

iii

 

	 	 	 	 	 
	 	 	 	Page	 
	Section 14.09. Responsibility of Trustee
	 	 	65	 
	Section 14.10. Notice to Holders Prior to Certain Actions
	 	 	66	 
	Section 14.11. Stockholder Rights Plans
	 	 	66	 
	Section 14.12. Exchange In Lieu Of Conversion
	 	 	66	 
	 
	 	 	 	 
	ARTICLE 15
	Purchase of Notes at Option of Holders
	 
	 	 	 	 
	Section 15.01. Intentionally Omitted
	 	 	67	 
	Section 15.02. Purchase at Option of Holders Upon a Fundamental Change
	 	 	67	 
	Section 15.03. Withdrawal of Fundamental Change Purchase Notice
	 	 	70	 
	Section 15.04. Deposit of Fundamental Change Purchase Price
	 	 	70	 
	Section 15.05. Covenant to Comply with Applicable Laws Upon Purchase of Notes
	 	 	71	 
	 
	 	 	 	 
	ARTICLE 16

	Optional Redemption

	 
	 	 	 	 
	Section 16.01. Optional Redemption
	 	 	71	 
	Section 16.02. Notice of Optional Redemption; Selection of Notes
	 	 	72	 
	Section 16.03. Payment of Notes Called for Redemption
	 	 	73	 
	Section 16.04. Restrictions on Redemption
	 	 	74	 
	 
	 	 	 	 
	ARTICLE 17

	Miscellaneous Provisions

	 
	 	 	 	 
	Section 17.01. Provisions Binding on Company’s Successors
	 	 	74	 
	Section 17.02. Official Acts by Successor Corporation
	 	 	74	 
	Section 17.03. Addresses for Notices, Etc.
	 	 	74	 
	Section 17.04. Governing Law
	 	 	75	 
	Section 17.05. Evidence of Compliance with Conditions Precedent;
Certificates and Opinions of Counsel to Trustee
	 	 	75	 
	Section 17.06. Legal Holidays
	 	 	75	 
	Section 17.07. No Security Interest Created
	 	 	75	 
	Section 17.08. Benefits of Indenture
	 	 	75	 
	Section 17.09. Table of Contents, Headings, Etc.
	 	 	75	 
	Section 17.10. Authenticating Agent
	 	 	76	 
	Section 17.11. Execution in Counterparts
	 	 	77	 
	Section 17.12. Severability
	 	 	77	 
	Section 17.13. Waiver of Jury Trial
	 	 	77	 
	Section 17.14. Force Majeure
	 	 	77	 
	Section 17.15. Calculations
	 	 	77	 
	 
	 	 	 	 
	EXHIBIT

	Exhibit A         Form of Note
	 	 	A-1	 

iv

 

     INDENTURE dated as of June [•], 2011 between Insulet Corporation, a Delaware corporation, as
issuer (the “Company”, as more fully set forth in
Section 1.01) and Wells Fargo Bank, National Association, a
national banking association, as trustee (the “Trustee”, as more fully set forth in Section 1.01).

W I T N E S S E T H:

     WHEREAS, for its lawful corporate purposes, the Company has duly authorized the issuance of
its [__.__]% Convertible Senior Notes due 2016 (the “Notes”), initially in an aggregate principal
amount not to exceed
$[               ] [(as increased by an amount equal to the aggregate principal
amount of any additional Notes purchased by the Underwriters pursuant to the exercise of their
option to purchase additional Notes as set forth in the Underwriting Agreement)], and in order to provide the terms and conditions upon which the Notes are
to be authenticated, issued and delivered, the Company has duly authorized the execution and
delivery of this Indenture; and

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

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

     NOW, THEREFORE, THIS INDENTURE WITNESSETH:

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

ARTICLE 1

Definitions

     Section 1.01. Definitions. The terms defined in this Section 1.01 (except as herein
otherwise expressly provided or unless the context otherwise requires) for all purposes of this
Indenture and of any indenture supplemental hereto shall have the respective meanings specified

 

 

in this Section 1.01. The words “herein,” “hereof,” “hereunder,” and words of similar import
refer to this Indenture as a whole and not to any particular Article, Section or other subdivision.
The terms defined in this Article include the plural as well as the singular.

     “Additional Interest” means all amounts, if any, payable pursuant to Section 6.03.

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

     “Affiliate” of any specified Person means any other Person directly or indirectly controlling
or controlled by or under direct or indirect common control with such specified Person. For the
purposes of this definition, “control,” when used with respect to any specified Person means the
power to direct or cause the direction of the management and policies of such Person, directly or
indirectly, whether through the ownership of voting securities, by contract or otherwise; and the
terms “controlling” and “controlled” have meanings correlative to the foregoing.

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

     “Board of Directors” means the board of directors of the Company or a committee of such board
duly authorized to act for it hereunder2. Solely for purposes of this definition, the
phrase “or a committee of such board duly authorized to act for it hereunder” of the definition of
Board of Directors shall be disregarded.3

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

          “Business Day” means each Monday, Tuesday, Wednesday, Thursday and Friday that is not (i) a
day on which the banking institutions in The City of New York are authorized or obligated by law or
executive order to close or be closed or (ii) a day on which the Corporate Trust Office is
authorized or obligated by law or executive order to close or be closed.

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

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

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

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

2

 

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

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

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

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

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

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

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

     “Company Order” means a written order of the Company, signed by (a) an Officer of the Company
and (b) another Officer of the Company, other than the Officer designated in clause (a) of this
definition, or the Company’s Assistant Treasurer or any Assistant Secretary, and delivered to the
Trustee.

     “Continuing Director” means a director who either was a member of the Board of Directors on
June [•], 2011 or who becomes a member of the Board of Directors subsequent to that date and whose
election, appointment or nomination for election by the stockholders of the Company is duly
approved by a majority of the continuing directors on the Board of Directors at the time of such
approval, either by a specific vote or by approval of the proxy statement issued by the Company on
behalf of the entire Board of Directors in which such individual is named as nominee for director.

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

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

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

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

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

     “Corporate Trust Office” means the principal office of the Trustee at which at any time its
corporate trust business shall be administered, which office at the date hereof is located at
Wells Fargo Bank, National Association, Corporate Trust Services, MAC N9311-110, 625 Marquette Ave. South,
Minneapolis, MN 55479, Attention: Insulet Corporation Account Manager, or such other address as
the Trustee may designate from time to time by notice to the Holders and the

3

 

Company, or the principal corporate trust office of any successor Trustee (or such other
address as such successor Trustee may designate from time to time by notice to the Holders and the
Company).

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

     “Daily Conversion Value” means, for each of the 25 consecutive Trading Days during the
Observation Period, 4% of the product of (a) the Conversion Rate on such Trading Day and (b) the
Daily VWAP on such Trading Day.

     “Daily Measurement Value” means the Specified Dollar Amount (if any), divided by 25.

     “Daily Settlement Amount,” for each of the 25 consecutive Trading Days during the Observation
Period, shall consist of:

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

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

     “Daily VWAP” means, for each of the 25 consecutive Trading Days during the applicable
Observation Period, the per share volume-weighted average price as displayed under the heading
“Bloomberg VWAP” on Bloomberg page “PODD <equity> AQR” (or its equivalent successor if such
page is not available) in respect of the period from the scheduled open of trading until the
scheduled close of trading of the primary trading session on such Trading Day (or if such
volume-weighted average price is unavailable, the market value of one share of the Common Stock on
such Trading Day as determined by the Board of Directors in a commercially reasonable manner using
a volume-weighted average method). The “Daily VWAP” shall be determined without regard to after
hours trading or any other trading outside of the regular trading session trading hours.

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

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

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

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

4

 

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

     “effective date” means, for purposes of Section 14.04, the first date on which the shares of
the Common Stock trade on the applicable exchange or in the applicable market, regular way,
reflecting the relevant transaction.

     “Effective Date” shall have the meaning specified in Section 14.03(c).

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

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

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

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

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

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

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

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

     (b) consummation of any share exchange, exchange offer, tender offer,
consolidation or merger of the Company pursuant to which all or substantially all of
the Common Stock is converted into cash, securities or other property or any sale,
lease or other transfer in one transaction or a series of transactions of all or

			

5

 

substantially all of the consolidated assets of the Company and its
Subsidiaries, taken as a whole, to any Person other than one of the Company’s
Subsidiaries; provided, however, that any such transaction where the holders of more
than 50% of shares of Common Stock immediately prior to such transaction that is a
share exchange, consolidation or merger own, directly or indirectly, more than 50%
of all classes of common equity of the continuing or surviving corporation or
transferee or the parent thereof immediately after such event shall not be a
Fundamental Change;

     (c) Continuing Directors cease to constitute at least a majority of the Board
of Directors;

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

     (e) the Common Stock (or other common stock into which the Notes are then
convertible) ceases to be quoted or listed for trading on a United States national
securities exchange,

provided, however, in the case of a transaction or event described in clause (a) or (b) above, if
at least 90% of the consideration received or to be received by the holders of Common Stock,
excluding cash payments for fractional shares or pursuant to statutory appraisal rights, in
connection with the transaction or transactions constituting the Fundamental Change consists of
shares of Publicly Traded Securities, and as a result of such transaction or transactions, the
Notes become convertible or exchangeable into such Publicly Traded Securities, excluding cash
payments for fractional shares and pursuant to statutory appraisal rights (subject to the
provisions of Section 14.02(a)), such event shall not be a Fundamental Change.

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

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

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

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

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

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

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

6

 

     “Interest Payment Date” means each June 15 and December 15 of each year, beginning on December
15, 2011.

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

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

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

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

     “Maturity Date” means June 15, 2016.

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

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

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

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

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

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

7

 

     “Observation Period” with respect to any Note surrendered for conversion means: (i) subject to
clause (ii), if the relevant Conversion Date occurs prior to March 15, 2016, the 25 consecutive
Trading Day period beginning on, and including, the second Trading Day after such Conversion Date;
(ii) if the relevant Conversion Date occurs on or after the date of the Company’s issuance of a
Redemption Notice with respect to the Notes pursuant to Section 16.02 and prior to the relevant
Redemption Date, the 25 consecutive Trading Days beginning on, and including, the 27th Scheduled
Trading Day immediately preceding such Redemption Date; and (iii) if the relevant Conversion Date
occurs on or after March 15, 2016, the 25 consecutive Trading Days beginning on, and including, the
27th Scheduled Trading Day immediately preceding the Maturity Date.

     “Officer” means, with respect to the Company, the Chairman of the Board of Directors,
President, the Chief Executive Officer, the Treasurer, the Secretary, any Executive or Senior Vice
President, Managing Director or any Vice President (whether or not designated by a number or
numbers or word added before or after the title “Vice President”).

     “Officers’ Certificate,” when used with respect to the Company, means a certificate that is
delivered to the Trustee and that is signed by (a) two Officers of the Company or (b) one Officer
of the Company and one of the Treasurer, any Assistant Treasurer, the Secretary, any Assistant
Secretary or the Controller of the Company. Each such certificate shall include the statements
provided for in Section 17.05 if and to the extent required by the provisions of such Section. One
of the Officers giving an Officers’ Certificate pursuant to Section 4.08 shall be the principal
executive, financial or accounting officer of the Company.

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

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

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

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

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

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

     (c) Notes that have been paid pursuant to Section 2.06 or Notes in lieu of which, or in
substitution for which, other Notes shall have been authenticated and

8

 

delivered pursuant to the terms of Section 2.06 unless proof satisfactory to the
Trustee is presented that any such Notes are held by protected purchasers in due course;

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

     (e) Notes purchased by the Company pursuant to the penultimate sentence of Section
2.10.

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

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

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

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

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

     “Prospectus” means the preliminary prospectus dated June [•], 2011, as supplemented by the
pricing term sheet dated June [•], 2011, relating to the offering and sale of the Notes.

     “Publicly Traded Securities” means shares of common stock that are quoted or listed for
trading on a U.S. national securities exchange or that will be so quoted or listed when issued or
exchanged in connection with a Fundamental Change described in clause (a) or (b) of the definition
thereof.

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

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

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

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

9

 

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

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

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

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

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

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

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

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

     “Significant Subsidiary” means a Subsidiary of the Company that meets the definition of
“significant subsidiary” in Article 1, Rule 1-02(w) of Regulation S-X under the Exchange Act. For
purposes of Article 6, the term “Significant Subsidiary” shall be deemed to include any group of
Subsidiaries of the Company that, in the aggregate, would constitute a “Significant Subsidiary” as
defined in the preceding sentence.

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

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

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

     “Subsidiary” means, with respect to any Person, any corporation, association, partnership or
other business entity of which more than 50% of the total voting power of shares of Capital Stock
or other interests (including partnership interests) entitled (without regard to the occurrence of
any contingency) to vote in the election of directors, managers, general partners or

10

 

trustees thereof is at the time owned or controlled, directly or indirectly, by (i) such
Person; (ii) such Person and one or more Subsidiaries of such Person; or (iii) one or more
Subsidiaries of such Person.

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

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

     “Trading Price” per $1,000 principal amount of Notes on any date of determination means the
average of the secondary market bid quotations obtained by the Bid Solicitation Agent for $1.0
million principal amount of Notes at approximately 3:30 p.m., New York City time, on such
determination date from three independent U.S. nationally recognized securities dealers selected by
the Company; provided that if three such bids cannot reasonably be obtained by the Bid Solicitation
Agent, but two such bids are obtained, then the average of the two bids shall be used, and if only
one such bid can reasonably be obtained by the Bid Solicitation Agent, that one bid shall be used.
If the Bid Solicitation Agent cannot reasonably obtain at least one bid for $1.0 million principal
amount of Notes from any such nationally recognized securities dealer, then the Trading Price per
$1,000 principal amount of Notes will be deemed to be less than 98% of the product of the Last
Reported Sale Price of the Common Stock and the applicable Conversion Rate.

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

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

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

11

 

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

     “Underwriters” means [_______] and [_______].

     [Underwriting Agreement” means that certain Underwriting Agreement, dated as of [_______],
among the Company and the Underwriters.]

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

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

ARTICLE 2

Issue, Description, Execution, Registration and Exchange of Notes

     Section 2.01. Designation and Amount. The Notes shall be designated as the “[__.__]%
Convertible Senior Notes due 2016.” The aggregate principal amount of Notes that may be
authenticated and delivered under this Indenture is initially limited
to $[_______] [(as
increased by an amount equal to the aggregate principal amount of any additional Notes purchased by
the Underwriters pursuant to the exercise of their option to purchase additional Notes as set forth
in the Underwriting Agreement)], subject to Section 2.10 and except for Notes
authenticated and delivered upon registration or transfer of, or in exchange for, or in lieu of
other Notes pursuant to Section 2.05, Section 2.06, Section 10.04, Section 14.02 and Section 15.04.

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

     Any Global Note may be endorsed with or have incorporated in the text thereof such legends or
recitals or changes not inconsistent with the provisions of this Indenture as may be

12

 

required by the Custodian or the Depositary, or as may be required to comply with any
applicable law or any regulation thereunder or with the rules and regulations of any securities
exchange or automated quotation system upon which the Notes may be listed or traded or designated
for issuance or to conform with any usage with respect thereto, or to indicate any special
limitations or restrictions to which any particular Notes are subject.

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

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

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

     (b) The Person in whose name any Note (or its Predecessor Note) is registered on the Note
Register at the close of business on any Regular Record Date with respect to any Interest Payment
Date shall be entitled to receive the interest payable on such Interest Payment Date. Interest
shall be payable at the office or agency of the Company maintained by the Company for such
purposes, which shall initially be the Corporate Trust Office. The Company shall pay interest (i)
on any Physical Notes (A) to Holders holding Physical Notes having an aggregate principal amount of
$2,000,000 or less, by check mailed to the Holders of these Notes at their address as it appears in
the Note Register and (B) to Holders holding Physical Notes having an aggregate principal amount of
more than $2,000,000, either by check mailed to such Holders or, upon application by such Holder to
the Note Registrar not later than the relevant Regular Record Date, by wire transfer in immediately
available funds to that Holder’s account within the United States, which application shall remain
in effect until the Holder notifies, in writing, the Note

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Registrar to the contrary or (ii) on any Global Note by wire transfer of immediately available
funds to the account of the Depositary or its nominee.

     (c) Any Defaulted Amounts shall forthwith cease to be payable to the Holder on the relevant
payment date but shall accrue interest per annum at the rate borne by the Notes from, and
including, such relevant payment date, and such Defaulted Amounts together with such interest
thereon shall be paid by the Company, at its election in each case, as follows:

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

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

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

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

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

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

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

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

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

15

 

     No service charge shall be imposed by the Company, the Trustee, the Note Registrar or any
co-Note Registrar for any exchange or registration of transfer of Notes, but the Company or the
Trustee may require a Holder to pay a sum sufficient to cover any documentary, stamp or similar
issue or transfer tax required by law or permitted pursuant to Section 14.02(d) or Section
14.02(e).

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

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

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

     (c) Notwithstanding any other provisions of this Indenture (other than the provisions set
forth in this Section 2.05(c)), a Global Note may not be transferred as a whole or in part except
(i) by the Depositary to a nominee of the Depositary or by a nominee of the Depositary to the
Depositary or another nominee of the Depositary or by the Depositary or any such nominee to a
successor Depositary or a nominee of such successor Depositary and (ii) for transfers of portions
of a Global Note in certificated form made upon request of a member of, or a participant in, the
Depositary (for itself or on behalf of a beneficial owner) by written notice given to the Trustee
by or on behalf of the Depositary in accordance with customary procedures of the Depositary and in
compliance with this Section 2.05(c).

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

     If (i) the Depositary notifies the Company at any time that the Depositary is unwilling or
unable to continue as depositary for the Global Notes and a successor depositary is not appointed
within 90 days, (ii) the Depositary ceases to be registered as a clearing agency under the Exchange
Act and a successor depositary is not appointed within 90 days or (iii) an Event of

16

 

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

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

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

     Neither the Company, the Trustee nor any agent of the Company or the Trustee shall have any
responsibility or liability for any aspect of the records relating to or payments made on account
of beneficial ownership interests of a Global Note or maintaining, supervising or reviewing any
records relating to such beneficial ownership interests.

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

17

 

     The Trustee or such authenticating agent may authenticate any such substituted Note and
deliver the same upon the receipt of such security or indemnity as the Trustee, the Company and, if
applicable, such authenticating agent may require. Upon the issuance of any substitute Note, the
Company or the Trustee may require the payment by the Holder of a sum sufficient to cover any tax,
assessment or other governmental charge that may be imposed in relation thereto and any other
expenses connected therewith. In case any Note that has matured or is about to mature or has been
surrendered for required purchase or is about to be converted in accordance with Article 14 shall
become mutilated or be destroyed, lost or stolen, the Company may, in its sole discretion, instead
of issuing a substitute Note, pay or authorize the payment of or convert or authorize the
conversion of the same (without surrender thereof except in the case of a mutilated Note), as the
case may be, if the applicant for such payment or conversion shall furnish to the Company, to the
Trustee and, if applicable, to such authenticating agent such security or indemnity as may be
required by them to save each of them harmless for any loss, liability, cost or expense caused by
or connected with such substitution, and, in every case of destruction, loss or theft, evidence
satisfactory to the Company, the Trustee and, if applicable, any Paying Agent or Conversion Agent
evidence of their satisfaction of the destruction, loss or theft of such Note and of the ownership
thereof.

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

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

18

 

benefits and subject to the same limitations under this Indenture as Physical Notes
authenticated and delivered hereunder.

     Section 2.08. Cancellation of Notes Paid, Converted, Etc. The Company shall cause all Notes
surrendered for the purpose of payment, purchase, redemption, registration of transfer or exchange
or conversion, if surrendered to any Person other than the Trustee (including any of the Company’s
Agents, Subsidiaries or Affiliates), to be surrendered to the Trustee for cancellation. All Notes
delivered to the Trustee shall be canceled promptly by it, and no Notes shall be authenticated in
exchange thereof except as expressly permitted by any of the provisions of this Indenture. The
Trustee shall dispose of canceled Notes in accordance with its customary procedures and, after such
disposition, shall deliver a certificate of such disposition to the Company, at the Company’s
written request in a Company Order. If the Company or any of its Subsidiaries shall acquire any of
the Notes, such acquisition shall not operate as a redemption, purchase or satisfaction of the
indebtedness represented by such Notes unless and until the same are delivered to the Trustee for
cancellation.

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

     Section 2.10. Additional Notes; Purchases. The Company may, without the consent of the
Holders and notwithstanding Section 2.01, reopen this Indenture and issue additional Notes
hereunder with the same terms and with the same CUSIP number as the Notes initially issued
hereunder in an unlimited aggregate principal amount; provided that if any such additional Notes
are not fungible with the Notes initially issued hereunder for U.S. federal income tax purposes,
such additional Notes will have a separate CUSIP number. Prior to the issuance of any such
additional Notes, the Company shall deliver to the Trustee a Company Order, an Officers’
Certificate and an Opinion of Counsel, such Officers’ Certificate and Opinion of Counsel to cover
such matters, in addition to those required by Section 17.05, as the Trustee shall reasonably
request. In addition, the Company may, to the extent permitted by law, and directly or indirectly
(regardless of whether such Notes are surrendered to the Company), purchase Notes in the open
market or otherwise, whether by the Company or its Subsidiaries or through a private or public
tender or exchange offer or through counterparties to private agreements, including by cash-settled
swaps or other derivatives. The Company shall cause any Notes so purchased (other than Notes
purchased pursuant to cash-settled swaps or other derivatives) to be surrendered to the Trustee for
cancellation in accordance with Section 2.08.

ARTICLE 3

Satisfaction and Discharge

     Section 3.01. Satisfaction and Discharge. This Indenture shall upon request of the Company
contained in an Officers’ Certificate cease to be of further effect, and the Trustee, at the
expense of the Company, shall execute proper instruments acknowledging satisfaction and

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

ARTICLE 4

Particular Covenants of the Company

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

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

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

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     The Company hereby initially designates the Trustee as the Paying Agent, Note Registrar,
Custodian and Conversion Agent and the Corporate Trust Office shall be considered as one such
office or agency of the Company for each of the aforesaid purposes.

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

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

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

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

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

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

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

     (c) Anything in this Section 4.04 to the contrary notwithstanding, the Company may, at any
time, for the purpose of obtaining a satisfaction and discharge of this Indenture, or for any other
reason, pay, cause to be paid or deliver to the Trustee all sums or amounts held in trust by the
Company or any Paying Agent hereunder as required by this Section 4.04, such sums or

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amounts to be held by the Trustee upon the trusts herein contained and upon such payment or
delivery by the Company or any Paying Agent to the Trustee, the Company or such Paying Agent shall
be released from all further liability but only with respect to such sums or amounts.

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

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

     Section 4.06. Annual Reports. (a) The Company shall file with the Trustee within 15 days
after the same are required to be filed with the Commission, copies of any documents or reports
that the Company is required to file with the Commission pursuant to Section 13 or 15(d) of the
Exchange Act (giving effect to any grace period provided by Rule 12b-25 under the Exchange Act).
Any such document or report that the Company files with the Commission via the Commission’s EDGAR
system shall be deemed to be filed with the Trustee for purposes of this Section 4.06(a) at the
time such documents are filed via the EDGAR system.

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

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

     Section 4.08. Compliance Certificate; Statements as to Defaults. The Company shall deliver
to the Trustee within 120 days after the end of each fiscal year of the Company (beginning with the
fiscal year ending on December 31, 2011) an Officers’ Certificate stating whether or not the
signers thereof have knowledge of any failure by the Company to comply

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with all conditions and covenants then required to be performed under this Indenture and, if
so, specifying each such failure and the nature thereof.

     In addition, the Company shall deliver to the Trustee, as soon as possible, and in any event
within 30 days after the Company becomes aware of the occurrence of any Event of Default or Default
that is continuing, an Officers’ Certificate setting forth the details of such Event of Default or
Default, its status and the action that the Company proposes to take with respect thereto.

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

ARTICLE 5

Lists of Holders and Reports by the Company and the Trustee

     Section 5.01. Lists of Holders. The Company covenants and agrees that it will furnish or
cause to be furnished to the Trustee, semi-annually, not more than 5 days after each June 1 and
December 1 in each year beginning with December 1, 2011, and at such other times as the Trustee may
request in writing, within 10 days after receipt by the Company of any such request (or such lesser
time as the Trustee may reasonably request in order to enable it to timely provide any notice to be
provided by it hereunder), a list in such form as the Trustee may reasonably require of the names
and addresses of the Holders as of a date not more than 15 days (or such other date as the Trustee
may reasonably request in order to so provide any such notices) prior to the time such information
is furnished, except that no such list need be furnished so long as the Trustee is acting as Note
Registrar.

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

ARTICLE 6

Defaults and Remedies

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

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

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

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

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

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

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

     (g) default by the Company or any Subsidiary of the Company in the payment of the principal or
interest on any mortgage, agreement or other instrument under which there may be outstanding, or by
which there may be secured or evidenced, any debt for money borrowed in excess of $25 million in
the aggregate of the Company and/or any such Subsidiary, whether such debt now exists or shall
hereafter be created, resulting in such debt becoming or being declared due and payable, and such
acceleration shall not have been rescinded or annulled within thirty days after written notice to
the Company by the Trustee or to the Company and the Trustee by the Holders of at least 25% in
principal amount of the Notes then outstanding;

     (h) a final judgment for the payment of $25 million or more (excluding any amounts covered by
insurance) rendered against the Company or any Subsidiary of the Company, which judgment is not
discharged or stayed within 30 days after (i) the date on which the right to appeal thereof has
expired if no such appeal has commenced, or (ii) the date on which all rights to appeal have been
extinguished;

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

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

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     Section 6.02. Acceleration; Rescission and Annulment. In case one or more Events of Default
shall have occurred and be continuing (whatever the reason for such Event of Default and whether it
shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment,
decree or order of any court or any order, rule or regulation of any administrative or governmental
body), then, and in each and every such case (other than an Event of Default specified in Section
6.01(i) or Section 6.01(j) with respect to the Company (but not with respect to any of its
Significant Subsidiaries)), unless the principal of all of the Notes shall have already become due
and payable, either the Trustee or the Holders of at least 25% in aggregate principal amount of the
Notes then outstanding determined in accordance with Section 8.04, by notice in writing to the
Company (and to the Trustee if given by Holders), may declare 100% of the principal of, and accrued
and unpaid interest on, all the Notes to be due and payable immediately, and upon any such
declaration the same shall become and shall automatically be immediately due and payable, anything
in this Indenture or in the Notes contained to the contrary notwithstanding. If an Event of
Default specified in Section 6.01(i) or Section 6.01(j) with respect to the Company (but not with
respect to any of its Significant Subsidiaries) occurs and is continuing, 100% of the principal of,
and accrued and unpaid interest, if any, on, all Notes shall become and shall automatically be
immediately due and payable.

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

     Section 6.03. Additional Interest. Notwithstanding anything in this Indenture or in the
Notes to the contrary, to the extent the Company elects, the sole remedy for Event of Default
relating to the Company’s failure to comply with its obligations as set forth in Section 4.06
shall, for the first 360 days after the occurrence of such an Event of Default, consist exclusively
of the

25

 

right to receive Additional Interest on the Notes at a rate equal to 0.25% per annum of the
principal amount of the Notes outstanding for each day during the first 180 days after the
occurrence of such Event of Default and 0.50% per annum of the principal amount of the Notes
outstanding from the 181st day until the 360th day following the occurrence of such an Event of
Default during which such Event of Default is continuing beginning on, and including, the date on
which such an Event of Default first occurs. If the Company so elects, such Additional Interest
shall be payable in the same manner and on the same dates as regular interest on the Notes. On the
361st day after such Event of Default (if the Event of Default relating to the Company’s failure to
file is not cured or waived prior to such 361st day), the Notes will be subject to acceleration as
provided in Section 6.02. In the event the Company does not elect to pay Additional Interest
following an Event of Default in accordance with this Section 6.03, or the Company elects to make
such payment but does not pay the Additional Interest when due, the Notes shall be subject to
acceleration as provided in Section 6.02.

     In order to elect to pay Additional Interest as the sole remedy during the first 360 days
after the occurrence of any Event of Default described in the immediately preceding paragraph, the
Company must notify all Holders of the Notes, the Trustee and the Paying Agent of such election
prior to the beginning of such 360-day period. Upon the failure to timely give such notice, the
Notes shall be immediately subject to acceleration as provided in Section 6.02.

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

     In the event there shall be pending proceedings for the bankruptcy or for the reorganization
of the Company or any other obligor on the Notes under title 11 of the United States Code, or any
other applicable law, or in case a receiver, assignee or trustee in bankruptcy or reorganization,
liquidator, sequestrator or similar official shall have been appointed for or taken possession of
the Company or such other obligor, the property of the Company or such other obligor, or in the
event of any other judicial proceedings relative to the Company or such other obligor upon the
Notes, or to the creditors or property of the Company or such other obligor, the Trustee,
irrespective of whether the principal of the Notes shall then be due and payable as therein
expressed or by declaration or otherwise and irrespective of whether the Trustee shall have made
any demand pursuant to the provisions of this Section 6.04, shall be entitled and empowered, by
intervention in such proceedings or otherwise, to file and prove a claim or claims for the whole
amount of principal and accrued and unpaid interest, if any, in respect of the Notes, and, in case
of any judicial proceedings, to file such proofs of claim and other papers or documents and to take
such other actions as it may deem necessary or advisable

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in order to have the claims of the Trustee (including any claim for the reasonable
compensation, expenses, disbursements and advances of the Trustee, its agents and counsel) and of
the Holders allowed in such judicial proceedings relative to the Company or any other obligor on
the Notes, its or their creditors, or its or their property, and to collect and receive any monies
or other property payable or deliverable on any such claims, and to distribute the same after the
deduction of any amounts due to the Trustee under Section 7.06; and any receiver, assignee or
trustee in bankruptcy or reorganization, liquidator, custodian or similar official is hereby
authorized by each of the Holders to make such payments to the Trustee, as administrative expenses,
and, in the event that the Trustee shall consent to the making of such payments directly to the
Holders, to pay to the Trustee any amount due it for reasonable compensation, expenses, advances
and disbursements, including agents and counsel fees, and including any other amounts due to the
Trustee under Section 7.06, incurred by it up to the date of such distribution. To the extent that
such payment of reasonable compensation, expenses, advances and disbursements out of the estate in
any such proceedings shall be denied for any reason, payment of the same shall be secured by a lien
on, and shall be paid out of, any and all distributions, dividends, monies, securities and other
property that the Holders of the Notes may be entitled to receive in such proceedings, whether in
liquidation or under any plan of reorganization or arrangement or otherwise.

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

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

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

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

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

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

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

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

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

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

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

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

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

28

 

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

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

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

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

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

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

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

     Section 6.10. Notice of Defaults. The Trustee shall, within 90 days after the occurrence
and continuance of a Default of which a Responsible Officer has actual knowledge, send to all
Holders as the names and addresses of such Holders appear upon the Note Register, notice of all
Defaults known to a Responsible Officer, unless such Defaults shall have been cured or waived
before the giving of such notice; provided that, except in the case of a Default in the payment of
the principal of (including the Fundamental Change Purchase Price, if applicable), or accrued and
unpaid interest on, any of the Notes or a Default in the payment or delivery of the consideration
due upon conversion, the Trustee shall be protected in withholding such notice if and so long as a
committee of Responsible Officers of the Trustee in good faith determines that the withholding of
such notice is in the interests of the Holders.

     Section 6.11. Undertaking to Pay Costs. All parties to this Indenture agree, and each
Holder of any Note by its acceptance thereof shall be deemed to have agreed, that any court may, in
its discretion, require, in any suit for the enforcement of any right or remedy under this
Indenture, or in any suit against the Trustee for any action taken or omitted by it as Trustee, the
filing by any party litigant in such suit of an undertaking to pay the costs of such suit and that
such court may in its discretion assess reasonable costs, including reasonable attorneys’ fees and
expenses, against any party litigant in such suit, having due regard to the merits and good faith
of the claims or defenses made by such party litigant; provided that the provisions of this Section
6.11 (to the extent permitted by law) shall not apply to any suit instituted by the Trustee, to any
suit instituted by any Holder, or group of Holders, holding in the aggregate more than 10% in

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principal amount of the Notes at the time outstanding determined in accordance with Section
8.04, or to any suit instituted by any Holder for the enforcement of the payment of the principal
of or accrued and unpaid interest, if any, on any Note (including, but not limited to, the
Fundamental Change Purchase Price with respect to the Notes being purchased as provided in this
Indenture) on or after the due date expressed or provided for in such Note or to any suit for the
enforcement of the right to convert any Note in accordance with the provisions of Article 14.

ARTICLE 7

Concerning the Trustee

     Section 7.01. Duties and Responsibilities of Trustee. The Trustee, prior to the occurrence
of an Event of Default and after the curing or waiver of all Events of Default that may have
occurred, undertakes to perform such duties and only such duties as are specifically set forth in
this Indenture. In case an Event of Default has occurred that has not been cured or waived the
Trustee shall exercise such of the rights and powers vested in it by this Indenture, and use the
same degree of care and skill in their exercise, as a prudent person would exercise or use under
the circumstances in the conduct of such person’s own affairs; provided that if an Event of Default
occurs and is continuing, the Trustee will be under no obligation to exercise any of the rights or
powers under this Indenture at the request or direction of any of the Holders unless such Holders
have offered to the Trustee indemnity or security satisfactory to it against the costs, expenses
and liabilities that might be incurred by it in compliance with such request or direction.

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

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

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

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

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

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

     (d) whether or not therein provided, every provision of this Indenture relating to the conduct
or affecting the liability of, or affording protection to, the Trustee shall be subject to the
provisions of this Section 7.01;

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

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

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

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

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

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

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

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

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

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

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

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

     In no event shall the Trustee be liable for any consequential loss or damage of any kind
whatsoever (including but not limited to lost profits), even if the Trustee has been advised of the
likelihood of such loss or damage and regardless of the form of action other than any such loss or
damage caused by the Trustee’s willful misconduct or gross negligence. The Trustee shall not be
charged with knowledge of any Default or Event of Default with respect to the Notes, unless either
(1) a Responsible Officer shall have actual knowledge of such Default or Event of Default or (2)
written notice of such Default or Event of Default shall have been given to the Trustee by the
Company or by any Holder of the Notes.

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

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Notes or the proceeds of any Notes authenticated and delivered by the Trustee in conformity
with the provisions of this Indenture.

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

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

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

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

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

     Section 7.08. Eligibility of Trustee. There shall at all times be a Trustee hereunder which
shall be a Person that is eligible pursuant to the Trust Indenture Act to act as such and has a
combined capital and surplus of at least $50,000,000. If such Person publishes reports of
condition at least annually, pursuant to law or to the requirements of any supervising or examining
authority, then for the purposes of this Section 7.08, the combined capital and surplus of such
Person shall be deemed to be its combined capital and surplus as set forth in its most recent
report of condition so published. If at any time the Trustee shall cease to be eligible in
accordance with the provisions of this Section, it shall resign immediately in the manner and with
the effect hereinafter specified in this Article 7.

     Section 7.09. Resignation or Removal of Trustee. (a) The Trustee may at any time resign by
giving written notice of such resignation to the Company and by mailing notice thereof to the
Holders at their addresses as they shall appear on the Note Register. Upon receiving such notice
of resignation, the Company shall promptly appoint a successor trustee by written instrument, in
duplicate, executed by order of the Board of Directors, one copy of which instrument shall be
delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee
shall have been so appointed and have accepted appointment within 60 days after the mailing of such
notice of resignation to the Holders, the resigning Trustee may, upon 10 Business Days’ notice to
the Company and the Holders, petition any court of competent jurisdiction for the appointment of a
successor trustee, or any Holder who has been a bona fide holder of a Note or Notes for at least
six months may, subject to the provisions of Section 6.11, on behalf of himself and all others
similarly situated, petition any such court for the appointment of a successor trustee. Such court
may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor
trustee.

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

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

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

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

     (c) The Holders of a majority in aggregate principal amount of the Notes at the time
outstanding, as determined in accordance with Section 8.04, may at any time remove the Trustee and
nominate a successor trustee that shall be deemed appointed as successor trustee unless within 10
days after notice to the Company of such nomination the Company objects thereto, in which case the
Trustee so removed or any Holder, upon the terms and conditions and otherwise as in Section 7.09(a)
provided, may petition any court of competent jurisdiction for an appointment of a successor
trustee.

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

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

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

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     Upon acceptance of appointment by a successor trustee as provided in this Section 7.10, each
of the Company and the successor trustee, at the written direction and at the expense of the
Company shall mail or cause to be mailed notice of the succession of such trustee hereunder to the
Holders at their addresses as they shall appear on the Note Register. If the Company fails to mail
such notice within 10 days after acceptance of appointment by the successor trustee, the successor
trustee shall cause such notice to be mailed at the expense of the Company.

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

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

ARTICLE 8

Concerning the Holders

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

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

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

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

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

ARTICLE 9

Holders’ Meetings

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

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

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

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

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

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

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

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

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

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

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

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

     Section 9.06. Voting. The vote upon any resolution submitted to any meeting of Holders
shall be by written ballot on which shall be subscribed the signatures of the Holders or of their
representatives by proxy and the outstanding principal amount of the Notes held or represented by
them. The permanent chairman of the meeting shall appoint two inspectors of votes who shall count
all votes cast at the meeting for or against any resolution and who shall make and file

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

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

     Section 9.07. No Delay of Rights by Meeting. Nothing contained in this Article 9 shall be
deemed or construed to authorize or permit, by reason of any call of a meeting of Holders or any
rights expressly or impliedly conferred hereunder to make such call, any hindrance or delay in the
exercise of any right or rights conferred upon or reserved to the Trustee or to the Holders under
any of the provisions of this Indenture or of the Notes.

ARTICLE 10

Supplemental Indentures

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

     (a) to cure any ambiguity, omission, defect or inconsistency in this Indenture that does not,
individually or in the aggregate, adversely affect the rights of any Holder of the Notes in any
material respect;

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

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

     (d) to secure the Notes;

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

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

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

     (h) to appoint a successor Trustee with respect to the Notes; or

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     (i) to conform the provisions of this Indenture or the Notes to the “Description of notes”
section of the Prospectus.

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

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

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

     (a) reduce the percentage in aggregate principal amount of Notes outstanding whose Holders
must consent to an amendment to this Indenture or to waive any past Default or Event of Default
pursuant to Section 6.09;

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

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

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

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

     (f) make any Note payable in a currency other than that stated in the Note;

     (g) change the ranking of the Notes;

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

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     (i) make any change in this Article 10 that requires each Holder’s consent or in the waiver
provisions in Section 6.01 or Section 6.09.

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

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

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

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

     Section 10.05. Evidence of Compliance of Supplemental Indenture to Be Furnished Trustee. In
addition to the documents required by Section 17.05, the Trustee shall receive an Officers’
Certificate and an Opinion of Counsel as conclusive evidence that any supplemental indenture
executed pursuant hereto complies with the requirements of this Article 10 and is permitted or
authorized by this Indenture.

ARTICLE 11

Consolidation, Merger, Sale, Conveyance and Lease

     Section 11.01. Company May Consolidate, Etc. on Certain Terms. Subject to the provisions of
Section 11.02, the Company shall not consolidate with, merge with or into, or sell,

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convey, transfer or lease its properties and assets substantially as an entirety to another
Person, unless:

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

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

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

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

44

 

from its liabilities as obligor and maker of the Notes and from its obligations under this
Indenture and the Notes.

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

     Section 11.03. Opinion of Counsel to Be Given to Trustee. No consolidation, merger, sale,
conveyance, transfer or lease shall be effective unless the Trustee shall receive an Officers’
Certificate and an Opinion of Counsel as conclusive evidence that any such consolidation, merger,
sale, conveyance, transfer or lease and any such assumption complies with the provisions of this
Article 11 and, if a supplemental indenture is required in connection with such transaction, such
supplemental indenture, complies with the provisions of this Article 11 and Article 10.

ARTICLE 12

Immunity of Incorporators, Stockholders, Officers and Directors

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

ARTICLE 13

Intentionally Omitted

ARTICLE 14

Conversion of Notes

     Section 14.01. Conversion Privilege. (a)Subject to and upon compliance with the provisions
of this Article 14, each Holder of a Note shall have the right, at such Holder’s option, to convert
all or any portion (if the portion to be converted is $1,000 principal amount or a multiple
thereof) of such Note (i) subject to satisfaction of the conditions described in Section 14.01(b),
at any time prior to the close of business on the Business Day immediately preceding March 15, 2016
under the circumstances and during the periods set forth in Section 14.01(b), and (ii) irrespective
of the conditions described in Section 14.01(b), on or after March 15, 2016 and prior to the close
of business on the second Scheduled Trading Day immediately preceding the Maturity Date, in each
case, at an initial conversion rate of [_____] shares of Common Stock (as adjusted as provided in
Section 14.04 as of any date, the “Conversion Rate”) per $1,000 principal

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amount of Notes (subject to the settlement provisions of Section 14.02, the
“Conversion Obligation”).

     (b) (i) Prior to the close of business on the Business Day immediately preceding March 15,
2016, the Notes may be surrendered for conversion during the five Business Day period immediately
after any five consecutive Trading Day period (the “Measurement Period”) in which the Trading Price
per $1,000 principal amount of Notes, as determined following a request by a Holder of Notes in
accordance with this subsection (b)(i), for each Trading Day of the Measurement Period was less
than 98% of the product of the Last Reported Sale Price of the Common Stock and the Conversion Rate
on each such Trading Day. The Trading Prices shall be determined by the Bid Solicitation Agent
pursuant to this subsection (b)(i) and the definition of Trading Price set forth in this Indenture.
The Company shall provide written notice to the Bid Solicitation Agent of the three independent
nationally recognized securities dealers selected by the Company pursuant to the definition of
Trading Price, along with appropriate contact information for each. The Bid Solicitation Agent
shall have no obligation to determine the Trading Price per $1,000 principal amount of Notes unless
the Company has requested such determination, and the Company shall have no obligation to make such
request unless a Holder provides the Company with reasonable evidence that the Trading Price per
$1,000 principal amount of Notes would be less than 98% of the product of the Last Reported Sale
Price of the Common Stock and the Conversion Rate, at which time the Company shall instruct the Bid
Solicitation Agent to determine the Trading Price per $1,000 principal amount of Notes beginning on
the next Trading Day and on each successive Trading Day until the Trading Price per Note is greater
than or equal to 98% of the product of the Last Reported Sale Price of the Common Stock and the
Conversion Rate. If the Company does not instruct the Bid Solicitation Agent to determine the
Trading Price per $1,000 principal amount of Notes when obligated as provided in the preceding
sentence, or if the Company instructs the Bid Solicitation Agent to obtain bids and the Bid
Solicitation Agent fails to make such determination, then, in either case, the Trading Price per
$1,000 principal amount of Notes shall be deemed to be less than 98% of the product of the Last
Reported Sale Price of the Common Stock and the Conversion Rate on each Trading Day of such
failure. If the Trading Price condition set forth above has been met, the Company shall so notify
the Holders, the Trustee and the Conversion Agent (if other than the Trustee). If, at any time
after the Trading Price condition set forth above has been met, the Trading Price per $1,000
principal amount of Notes is greater than or equal to 98% of the product of the Last Reported Sale
Price of the Common Stock and the applicable Conversion Rate, the Company shall so notify the
Holders of the Notes, the Trustee and the Conversion Agent (if other than the Trustee).

     (ii) If, prior to the close of business on the Business Day immediately preceding March
15, 2016, the Company elects to:

     (A) distribute to all or substantially all holders of its Common Stock rights,
options or warrants entitling them, for a period of not more than 60 calendar days
from the declaration date of such distribution, to subscribe for or purchase shares
of its Common Stock, at a price per share less than the average of the Last
Reported Sale Prices of the Common Stock for the 10 consecutive Trading Day period
ending on, and including, the Trading Day immediately preceding the declaration
date for such distribution; or

46

 

     (B) distribute to all or substantially all holders of its Common Stock
the Company’s assets, debt securities or rights to purchase securities of the
Company, which distribution has a per share value, as determined by the Board of
Directors, exceeding 10% of the average of the Last Reported Sale Prices of the
Common Stock for the 10 consecutive Trading Day period ending on, and including,
the Trading Day immediately preceding the declaration date for such distribution,

then, in either case, the Company shall notify all Holders of the Notes, the Trustee and the
Conversion Agent (if other than the Trustee) in writing at least 35 Business Days prior to the
Ex-Dividend Date for such distribution. Once the Company has given such notice, the Notes may be
surrendered for conversion at any time until the earlier of (1) the close of business on the
Business Day immediately prior to the Ex-Dividend Date for such distribution and (2) the Company’s
announcement that such distribution will not take place, even if the Notes are not otherwise
convertible at such time.

     (iii) If a transaction or event that constitutes a Fundamental Change or a Make-Whole
Fundamental Change occurs prior to the close of business on the Business Day immediately
preceding March 15, 2016, regardless of whether a Holder has the right to require the
Company to purchase the Notes pursuant to Section 15.02, the Notes may be surrendered for
conversion at any time from and after the date that is 35 Business Days prior to the
anticipated effective date of such Fundamental Change or Make-Whole Fundamental Change, as
the case may be, until the Business Day immediately preceding the Fundamental Change
Purchase Date corresponding to such Fundamental Change (or, in the case of a Make-Whole
Fundamental Change that does not constitute a Fundamental Change by virtue of the proviso in
clause (b) of the definition of Make-Whole Fundamental Change, the 35th Trading Day
immediately following such effective date). The Company shall give notice in writing of the
anticipated effective date of any Fundamental Change or Make-Whole Fundamental Change, as
the case may be, as soon as practicable after the Company first determines the anticipated
effective date of such Fundamental Change or such Make-Whole Fundamental Change, as the case
may be; provided that the Company shall not be required to give such notice more than 35
Business Days in advance of such anticipated effective date.

     (iv) Prior to the close of business on the Business Day immediately preceding March 15,
2016, the Notes may be surrendered for conversion during any calendar quarter commencing
after the calendar quarter ending on September 30, 2011 (and only during such calendar
quarter), if the Last Reported Sale Price of the Common Stock for at least 20 Trading Days
(whether or not consecutive) during the period of 30 consecutive Trading Days ending on, and
including, the last Trading Day of the immediately preceding calendar quarter is equal to or
greater than 130% of the Conversion Price on each applicable Trading Day. The Conversion
Agent, on behalf of the Company, shall determine at the beginning of each calendar quarter
commencing after September 30, 2011 whether the Notes may be surrendered for conversion in
accordance with this clause
(iv) and shall notify the Company and the Trustee if the Notes become convertible in
accordance with this clause (iv).

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     (v) If the Company calls any or all of the Notes for redemption pursuant to Article 16
prior to the close of business on the Business Day immediately preceding March 15, 2016,
then Holders may surrender Notes that have been so called for redemption at any time prior
to the close of business on the Scheduled Trading Day prior to the Redemption Date, even if
the Notes are not otherwise convertible at such time. After that time, the right to convert
shall expire, unless the Company defaults in the payment of the Redemption Price, in which
case a Holder of Notes may convert its Notes until the Redemption Price has been paid or
duly provided for.

     Section 14.02. Conversion Procedure; Settlement Upon Conversion.

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

     (i)
 All conversions occurring on or after March 15, 2016 and after the Company’s
issuance of a Redemption Notice with respect to the Notes and prior to the related
Redemption Date shall be settled using the same Settlement Method.

     (ii) Prior to March 15, 2016, except for any conversions that occur after the Company’s
issuance of a Redemption Notice with respect to the Notes but prior to the related
Redemption Date, the Company shall use the same Settlement Method for all conversions
occurring on the same Conversion Date, but the Company shall not have any obligation to use
the same Settlement Method with respect to conversions that occur on different Trading Days.

     (iii) If, in respect of any Conversion Date (or the period beginning on, but excluding,
March 15, 2016 and ending on, and including, the Business Day immediately preceding the
Maturity Date, as the case may be), the Company elects to deliver a notice (the “Settlement
Notice”) of the relevant Settlement Method in respect of such Conversion Date (or such
period, as the case may be), the Company, through the Trustee, shall deliver such Settlement
Notice to converting Holders no later than the close of business on the Trading Day
immediately following the relevant Conversion Date (or, in the case of any conversions
occurring (x) after the date of issuance of a Redemption Notice with respect to the Notes
and prior to the related Redemption Date, in such Redemption Notice or (y) on or after March
15, 2016, no later than April 15, 2016). If the Company does not elect a Settlement Method
prior to the deadline set forth in the immediately preceding sentence, the Company shall no
longer have the right to elect Cash Settlement or Physical Settlement and the Company shall be deemed to have elected
Combination Settlement in respect of its Conversion Obligation, and the Specified Dollar
Amount per $1,000 principal amount of Notes shall be equal to $1,000.

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Such Settlement
Notice shall specify the relevant Settlement Method and in the case of an election of
Combination Settlement, the relevant Settlement Notice shall indicate the Specified Dollar
Amount. If the Company delivers a Settlement Notice electing Combination Settlement in
respect of its Conversion Obligation but does not indicate a Specified Dollar Amount in such
Settlement Notice, the Specified Dollar Amount shall be deemed to be $1,000.

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

     (A) if the Company elects to satisfy its Conversion Obligation in respect of
such conversion by Physical Settlement, the Company shall deliver to the converting
Holder a number of shares of Common Stock equal to the product of (1) the aggregate
principal amount of Notes to be converted, divided by $1,000, and (2) the
Conversion Rate in effect on the Conversion Date;

     (B) if the Company elects to satisfy its Conversion Obligation in respect of
such conversion by Cash Settlement, the Company shall pay to the converting Holder
in respect of each $1,000 principal amount of Notes being converted cash in an
amount equal to the sum of the Daily Conversion Values for each of the 25
consecutive Trading Days during the related Observation Period; and

     (C) if the Company elects (or is deemed to have elected) to satisfy its
Conversion Obligation in respect of such conversion by Combination Settlement, the
Company shall pay or deliver, as the case may be, in respect of each $1,000
principal amount of Notes being converted, a Settlement Amount equal to the sum of
the Daily Settlement Amounts for each of the 25 consecutive Trading Days during the
related Observation Period.

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

     (b) Subject to Section 14.02(e), before any Holder of a Note shall be entitled to convert a
Note as set forth above, such Holder shall (i) in the case of a Global Note, comply with the
procedures of the Depositary in effect at that time and, if required, pay funds equal to interest
payable on the next Interest Payment Date to which such Holder is not entitled as set forth in
Section 14.02(h) and (ii) in the case of a Physical Note (1) complete, manually sign and deliver
an irrevocable notice to the Conversion Agent as set forth in the Form of Notice of Conversion

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

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

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

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

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

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issued
in a name other than the Holder’s name until the Trustee receives a sum sufficient to pay any tax
that is due by such Holder in accordance with the immediately preceding sentence.

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

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

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

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

     (j) The Company shall not issue any fractional share of Common Stock upon conversion of the
Notes and shall instead pay cash in lieu of any fractional share of Common
Stock issuable upon conversion based on the Daily VWAP on the relevant Conversion Date (in the
case of Physical Settlement) or based on the Daily VWAP on the last Trading Day of the relevant
Observation Period (in the case of Combination Settlement). For each Note surrendered

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for
conversion, if the Company has elected Combination Settlement, the full number of shares that shall
be issued upon conversion thereof shall be computed on the basis of the aggregate Daily Settlement
Amounts for the applicable Observation Period and any fractional shares remaining after such
computation shall be paid in cash.

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

     (b) Upon surrender of Notes for conversion in connection with a Make-Whole Fundamental Change
pursuant to Section 14.01(b)(iii), the Company shall, at its option, satisfy the related
Conversion Obligation by Physical Settlement, Cash Settlement or Combination Settlement in
accordance with Section 14.02; provided, however, that if, at the effective time of a Make-Whole
Fundamental Change described in clause (b) of the definition of Fundamental Change, the Reference
Property is composed entirely of cash, for any conversion of Notes following the Effective Date of
such Make-Whole Fundamental Change, the Conversion Obligation shall be calculated based solely on
the Stock Price for the transaction and shall be deemed to be an amount of cash per $1,000
principal amount of converted Notes equal to the Conversion Rate (including any adjustment for
Additional Shares), multiplied by such Stock Price. In such event, the Conversion Obligation shall
be paid to Holders in cash on the third Business Day following the Conversion Date.

     (c) The number of Additional Shares, if any, by which the Conversion Rate shall be increased
for conversions during the Make-Whole Fundamental Change Period shall be determined by reference to
the table below, based on the date on which the Make-Whole Fundamental Change occurs (the
“Effective Date”) and the price (the “Stock Price”) paid or deemed paid per share of the Common
Stock in the Make-Whole Fundamental Change. If holders of the Common Stock receive only cash in
the case of a Make-Whole Fundamental Change described in clause (b) of the definition of
Fundamental Change, the Stock Price shall be the cash amount paid per share. In the case of any
other Make-Whole Fundamental Change, the Stock Price shall be the average of the Last Reported Sale
Prices of the Common Stock over the five Trading Day period ending on, and including, the Trading
Day immediately preceding the Effective Date of the Make-Whole Fundamental Change. The Board of
Directors shall make
appropriate adjustments to the Stock Price, in its good faith determination, to account for
any adjustment to the Conversion Rate that becomes effective, or any event requiring an adjustment

52

 

to the Conversion Rate where the Ex-Dividend Date of the event occurs, during such five consecutive
Trading Day period.

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

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

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Stock Price	 
	Effective Date	 	$	 	 	$	 	 	$	 	 	$	 	 	$	 	 	$	 	 	$	 	 	$	 	 	$	 	 	$	 	 	$	 	 	$	 	 	$	 
	 
	June [•], 2011
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	June 15, 2012
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	June 15, 2013
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	June 15, 2014
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	June 15, 2015
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	June 15, 2016
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

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

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

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

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

Notwithstanding the foregoing, in no event shall the total number of shares of Common Stock
issuable upon conversion exceed [_.___] per $1,000 principal amount of Notes, subject to adjustment
in the same manner as the Conversion Rate pursuant to Section 14.04.

53

 

     (f) As soon as practicable after the Company determines the anticipated Effective Date of any
proposed Make-Whole Fundamental Change the Company shall mail to each Holder, the Trustee and the
Conversion Agent written notice of, and shall issue a press release indicating, and publicly
announce, through a public medium that is customary for such announcements, and publish on the
Company’s website, the anticipated Effective Date of such proposed Make-Whole Fundamental Change;
provided that the Company shall not be required to give such written notice or issue such press
release more than 35 Business Days in advance of such anticipated Effective Date. No later than
five Business Days after the actual Effective Date of each Make-Whole Fundamental Change, the
Company shall mail to each Holder, the Trustee and the Conversion Agent written notice of, and
shall issue a press release indicating, and publicly announce, through a public medium that is
customary for such announcements, and publish on the Company’s website, such Effective Date.

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

     Section 14.04. Adjustment of Conversion Rate. The Conversion Rate shall be adjusted from
time to time by the Company if any of the following events occurs, except that the Company shall
not make any adjustments to the Conversion Rate if Holders of the Notes participate (as a result of
holding the Notes and contemporaneously with holders of the Common Stock) in any of the
transactions described in this Section 14.04 as if they held a number of shares of Common Stock
equal to the Conversion Rate, multiplied by the principal amount (expressed in thousands) of Notes
held by such Holder divided by 1,000, without having to convert their Notes.

     (a) If the Company issues solely shares of Common Stock as a dividend or distribution to all
holders of the outstanding Common Stock on all or substantially all of the shares of Common Stock,
or if the Company effects a share split or share combination of the Common Stock, the applicable
Conversion Rate will be adjusted based on the following formula:

     where

	 	CR0   = 	 	the Conversion Rate in effect immediately prior to the open of business on
the Ex-Dividend Date for such dividend or distribution, or immediately prior to the
open of business on the effective date of such share split or share combination, as the
case may be;
	 
	 	CR’    = 	 	the Conversion Rate in effect immediately after the open of business on the
Ex-Dividend Date for such dividend or distribution, or immediately after the open of
business on the effective date of such share split or share combination, as the case
may be;
	 
	 	OS0    =	 	the number of shares of Common Stock outstanding immediately prior to the
open of business on the Ex-Dividend Date for such dividend or

54

 

	 	 	 	distribution, or immediately prior to the open of business on the effective
date of such share split or share combination, as the case may be; and
	 
	 	OS’    =	 	the number of shares of Common Stock outstanding immediately after such
dividend or distribution, or immediately after the effective date of such share split
or share combination, as the case may be.

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

     (b) If the Company distributes to all or substantially all holders of its Common Stock any
rights, options or warrants entitling them for a period of not more than 60 days from the
declaration date of such distribution to subscribe for or purchase shares of the Common Stock, at a
price per share less than the average of the Last Reported Sale Prices of the Common Stock for the
10 consecutive Trading Day period ending on, and including, the Trading Day immediately preceding
the declaration date for such distribution, the Conversion Rate shall be increased based on the
following formula:

     where

	 	CR0   =	 	the Conversion Rate in effect immediately prior to the open of business on
the Ex-Dividend Date for such distribution;
	 
	 	CR’   = 	 	the Conversion Rate in effect immediately after the open of business on the
Ex-Dividend Date for such distribution;
	 
	 	OS0   =	 	the number of shares of the Common Stock that are outstanding immediately
prior to the open of business on the Ex-Dividend Date for such distribution;
	 
	 	X      = 	 	the total number of shares of the Common Stock issuable pursuant to such
rights, options or warrants; and
	 
	 	Y       = 	 	the number of shares of the Common Stock equal to the aggregate price payable
to exercise such rights, options or warrants, divided by the average of the Last
Reported Sale Prices of Common Stock over the 10 consecutive Trading Day period ending
on, and including, the Trading Day immediately preceding the Ex-Dividend Date relating
to such distribution of such rights, options or warrants.

55

 

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

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

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

     where

	 	CR0   = 	 	the Conversion Rate in effect immediately prior to the open of business on
the Ex-Dividend Date for such distribution;
	 
	 	CR’   = 	 	the Conversion Rate in effect immediately after the open of business on the
Ex-Dividend Date for such distribution;
	 
	 	SP0   = 	 	the average of the Last Reported Sale Prices of the Common Stock over the
10 consecutive Trading Day period ending on, and including, the Trading Day immediately
preceding the Ex-Dividend Date for such distribution; and

56

 

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

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

          With respect to an adjustment pursuant to this Section 14.04(c) where there has been a
dividend or other distribution on the Common Stock of shares of Capital Stock of any class or
series, or similar equity interest, of or relating to a Subsidiary or other business unit of the
Company, which Capital Stock or similar equity interest will be quoted or listed for trading on a
U.S. national securities exchange or other established automated over-the-counter trading market in
the United States after its distribution (a “Spin-Off”), the Conversion Rate in effect immediately
before the close of business on the tenth Trading Day immediately following, and including, the
Ex-Dividend Date for the Spin-Off will be increased based on the following formula:

     where

	 	CR0     = 	 	the Conversion Rate in effect immediately prior to the close of business on
the tenth Trading Day immediately following, and including, the Ex-Dividend Date for
the Spin-Off;
	 
	 	CR’     = 	 	the Conversion Rate in effect immediately after the close of business on the
tenth Trading Day immediately following, and including, the Ex-Dividend Date for the
Spin-Off;
	 
	 	FMV   = 	 	the average of the Last Reported Sale Prices of the Capital Stock or similar
equity interest distributed to holders of the Common Stock

57

 

	 	 	 	applicable to one share of the Common Stock over the first 10 consecutive
Trading Day period immediately following, and including, the Ex-Dividend
Date for the Spin-Off; and
	 
	 	MP0   =	 	the average of the Last Reported Sale Prices of the Common Stock over the
first 10 consecutive Trading Day period immediately following and including the
Ex-Dividend Date for the Spin-Off.

The adjustment to the Conversion Rate under the preceding paragraph shall become effective at the
close of business on the tenth Trading Day immediately following, and including, the Ex-Dividend
Date for the Spin-Off; provided that, for purposes of determining the Conversion Rate, in respect
of any conversion during the 10 Trading Days immediately following, and including, the Ex-Dividend
Date for any Spin-Off, references in the portion of this Section 14.04(c) related to Spin-Offs to
10 Trading Days shall be deemed replaced with such lesser number of Trading Days as have elapsed
between the Ex-Dividend Date for such Spin-Off and the relevant Conversion Date.

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

58

 

and (2) in the case of such rights, options or warrants that shall have expired or
been terminated without exercise by any holders thereof, the Conversion Rate shall be readjusted as
if such rights, options and warrants had not been issued.

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

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

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

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

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

where

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

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

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

59

 

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

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

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

     where

	 	CR0   = 	 	the Conversion Rate in effect at the close of business on the last Trading
Day of the period of 10 consecutive Trading Days commencing on, and including, the
Trading Day next succeeding the Expiration Date;
	 
	 	CR’    = 	 	the Conversion Rate in effect at the open of business on first day following
the last Trading Day of the period of 10 consecutive Trading Days commencing on, and
including, the Trading Day next succeeding the Expiration Date;
	 
	 	FMV  = 	 	the fair market value (as determined by the Board of Directors), on the
Expiration Date, of the aggregate value of all cash and any other consideration paid or
payable for shares validly tendered or exchanged as of the Expiration Date;
	 
	 	OS’    = 	 	the number of shares of Common Stock outstanding immediately after the time
(the “Expiration Time”) tender or exchange offer expires (after giving effect to such
tender offer or exchange offer);
	 
	 	OS0    =	 	the number of shares of Common Stock outstanding immediately prior to

60

 

	 	 	 	the Expiration Time (prior to giving effect to such tender offer or exchange
offer); and
	 
	 	SP’   = 	 	the average of the Last Reported Sale Prices of Common Stock over the 10
consecutive Trading Day period commencing on, and including, the Trading Day next
succeeding the date such tender or exchange offer expires.

The adjustment to the Conversion Rate under this Section 14.04(e) shall occur at the close of
business on the 10th Trading Day immediately following the Expiration Date; provided that, for
purposes of determining the Conversion Rate, in respect of any conversion during the 10 Trading
Days following, and including, the Trading Day next succeeding the Expiration Date, references in
this Section 14.04(e) with respect to 10 Trading Days shall be deemed replaced with such lesser
number of Trading Days as have elapsed between the Trading Day next succeeding the date that such
tender or exchange offer expires and the relevant Conversion Date. If the Company is obligated to
purchase shares pursuant to any such tender offer or exchange offer, but the Company is permanently
prevented by applicable law from effecting any or all or any portion of such purchases or all such
purchases are rescinded, the Conversion Rate shall again be adjusted to be the Conversion Rate that
would then be in effect if such tender offer or exchange offer had not been made or had been made
only in respect of the purchases that have been effected.

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

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

     (h) In addition to those adjustments required by clauses (a), (b), (c), (d) and (e) of
this Section 14.04, and to the extent permitted by applicable law and subject to the applicable
rules of The NASDAQ Global Market, the Company from time to time may increase the Conversion Rate
by any amount for a period of at least 20 Business Days if the Board of Directors determines that
such increase would be in the Company’s best interest. In addition, the Company may (but is not
required to) increase the Conversion Rate to avoid or diminish any income tax to holders of Common
Stock or rights to purchase Common Stock in connection with a dividend or distribution of shares
(or rights to acquire shares) or similar event. Whenever the Conversion Rate is increased pursuant
to either of the preceding two sentences, the Company
shall mail to the Holder of each Note at its last address appearing on the Note Register a
notice

61

 

of the increase at least 15 days prior to the date the increased Conversion Rate takes
effect, and such notice shall state the increased Conversion Rate and the period during which it
will be in effect.

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

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

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

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

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

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

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

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

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

62

 

     Section 14.05. Adjustments of Prices. Whenever any provision of this Indenture requires the
Company to calculate the Last Reported Sale Prices, the Daily VWAPs, the Daily Conversion Values or
the Daily Settlement Amounts over a span of multiple days (including an Observation Period and the
period for determining the Stock Price for purposes of a Make-Whole Fundamental Change), the Board
of Directors shall make appropriate adjustments to each to account for any adjustment to the
Conversion Rate that becomes effective, or any event requiring an adjustment to the Conversion Rate
where the Ex-Dividend Date of the event occurs, at any time during the period when the Last
Reported Sale Prices, the Daily VWAPs, the Daily Conversion Values or the Daily Settlement Amounts
are to be calculated.

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

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

     (a) In the case of:

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

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

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

     (iv) any statutory share exchange,

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

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continue to be payable in cash, (II) any shares of Common Stock that the Company would have been
required to deliver upon conversion of the Notes in accordance with Section 14.02 shall instead be
deliverable in the amount and type of Reference Property that a holder of that number of shares of
Common Stock would have been entitled to receive in such Merger Event and (III) the Daily VWAP
shall be calculated based on the value of a unit of Reference Property.

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

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

     (b) In the event the Company shall execute a supplemental indenture pursuant to subsection
(a) of this Section 14.07, the Company shall promptly file with the Trustee an Officers’
Certificate briefly stating the reasons therefor, the kind or amount of cash, securities or
property or asset that will comprise the Reference Property after any such Merger Event, any
adjustment to be made with respect thereto and that all conditions precedent have been complied
with, and shall promptly mail notice thereof to all Holders. The Company shall cause notice of the
execution of such supplemental indenture to be mailed to each Holder, at its address appearing on
the Note Register provided for in this Indenture, within 20 days after execution thereof. Failure
to deliver such notice shall not affect the legality or validity of such supplemental indenture.

     (c) The Company shall not become a party to any Merger Event unless its terms are consistent
with this Section 14.07. None of the foregoing provisions shall affect the right of a

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holder of Notes to convert its Notes into cash, shares of Common Stock or a combination of
cash and shares of Common Stock, as applicable, as set forth in Section 14.01 and Section 14.02
prior to the effective date of such Merger Event.

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

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

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

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

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

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occurred that makes the Notes eligible for conversion or no longer eligible therefor until the
Company has delivered to the Trustee and the Conversion Agent the notices referred to in Section
14.01(b) with respect to the commencement or termination of such conversion rights, on which
notices the Trustee and the Conversion Agent may conclusively rely, and the Company agrees to
deliver such notices to the Trustee and the Conversion Agent immediately after the occurrence of
any such event or at such other times as shall be provided for in Section 14.01(b).

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

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

     (b) Merger Event; or

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

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

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

     Section 14.12. Exchange In Lieu Of Conversion. (a) When a Holder surrenders its Notes for
conversion, the Company may, at its election, direct the Conversion Agent to surrender, on or

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prior to the second Business Day following the relevant Conversion Date, such Notes to a
financial institution designated by the Company (the “Designated Institution”) for exchange in lieu
of conversion. In order to accept any Notes surrendered for conversion for exchange in lieu of
conversion, the Designated Institution must agree to timely deliver, in exchange for such Notes,
the cash, shares of Common Stock or combination of cash and shares of Common Stock, at the
Company’s election, that would otherwise be due upon conversion as described in Section 14.02
above and in respect of which the Company has notified converting Holders. If the Company makes the
election described above, the Company shall, by the close of business on the second Business Day
following the relevant Conversion Date, notify the Holder surrendering Notes for conversion that it
has made such election. In addition, the Company shall concurrently notify the Designated
Institution of the relevant deadline for delivery of the consideration due upon conversion. Any
Notes exchanged by the Designated Institution will remain outstanding.

     (b) If the Designated Institution agrees to accept any Notes for exchange but does not timely
deliver the related consideration due upon conversion to the Conversion Agent, or if the Designated
Institution does not accept such Notes for exchange, the Company shall, within the time period
specified in Section 14.02(c), convert such Notes into cash and shares of Common Stock, if any, in
accordance with the provisions of Section 14.02.

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

ARTICLE 15

Purchase of Notes at Option of Holders

     Section 15.01. Intentionally Omitted.

     Section 15.02. Purchase at Option of Holders Upon a Fundamental Change. (a) If there shall
occur a Fundamental Change at any time prior to the Maturity Date, then each Holder shall have the
right, at such Holder’s option, to require the Company to purchase for cash all of such Holder’s
Notes, or any portion thereof that is a multiple of $1,000 principal amount, on the date (the
“Fundamental Change Purchase Date”) specified by the Company that is not less than 20 calendar days
and not more than 35 calendar days after the date of the Fundamental Change Company Notice (as
defined below) at a purchase price equal to 100% of the principal amount thereof, together with
accrued and unpaid interest, if any, thereon to, but excluding, the Fundamental Change Purchase
Date (the “Fundamental Change Purchase Price”), unless the Fundamental Change Purchase Date is
after a Regular Record Date and on or prior to the immediately succeeding Interest Payment Date, in
which case interest accrued to the Interest Payment Date will be paid to Holders of the Notes as of
the immediately preceding Regular Record Date and the Fundamental Change Purchase Price payable to
the Holder surrendering the Note for purchase pursuant to this Section 15.02 shall be equal to the
principal amount of Notes subject to purchase.

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

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

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

     The Fundamental Change Purchase Notice in respect of any Notes to be purchased shall state:

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

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

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

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

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

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

     (c) On or before the 20th calendar day after the occurrence of the effective date of a
Fundamental Change, the Company shall provide to all Holders of Notes and the Trustee and the
Paying Agent (in the case of a Paying Agent other than the Trustee) a written notice (the
“Fundamental Change Company Notice”) of the occurrence of the effective date of the Fundamental
Change and of the purchase right at the option of the Holders arising as a result thereof. Such
notice shall be by first class mail or, in the case of Global Notes, in accordance with the
applicable procedures of the Depositary. Contemporaneously with providing such notice, the Company
shall publish a notice containing the information set forth in the Fundamental Change Company
Notice in a newspaper of general circulation in The City of New

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York or publish such information on the Company’s website or through such other public medium
as the Company may use at that time or issue a press release containing the relevant information.
Each Fundamental Change Company Notice shall specify:

     (i) the events causing the Fundamental Change;

     (ii) the date the Fundamental Change occurred, and whether such Fundamental Change is a
Make-Whole Fundamental Change, in which case the Effective Date of such Make-Whole
Fundamental Change shall also be specified;

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

     (iv) the Fundamental Change Purchase Price;

     (v) the Fundamental Change Purchase Date;

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

     (vii) if applicable, the Conversion Rate and any adjustments to the Conversion Rate
made or to be made on account of such Fundamental Change;

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

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

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

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

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

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

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

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

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

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

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

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

     (b) If by 11:00 a.m. New York City time, on the Fundamental Change Purchase Date, the Trustee
(or other Paying Agent appointed by the Company) holds money or securities sufficient to make
payment on all the Notes or portions thereof that are to be purchased on such Fundamental Change
Purchase Date, then (i) such Notes will cease to be outstanding, (ii) interest will cease to accrue
on such Notes (whether or not book-entry transfer of the Notes has been

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made or the Notes have been delivered to the Trustee or Paying Agent) and (iii) all other
rights of the Holders of such Notes will terminate (other than the right to receive the
Fundamental Change Purchase Price, and subject to Section 15.02(a), previously accrued and unpaid
interest upon delivery or transfer of such Notes).

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

     Section 15.05. Covenant to Comply with Applicable Laws Upon Purchase of Notes. In connection
with any purchase offer, the Company will, to the extent required:

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

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

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

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

     Notwithstanding anything to the contrary provided in this Indenture, compliance by the Company
with Rule 13e-4, Rule 14e-1 and any other tender offer rule under the Exchange Act in accordance
with clause (a) above, to the extent inconsistent with any other provision of this Indenture, will
not, standing alone, constitute an Event of Default solely as a result of compliance by the Company
with such rules.

ARTICLE 16

Optional Redemption

     Section 16.01. Optional Redemption. No sinking fund is provided for the Notes. The Notes
shall not be redeemable by the Company prior to June 20, 2014. On or after (i) June 20, 2014, if
the Last Reported Sale Price of the Common Stock has been at least 130% of the Conversion Price for
at least 20 Trading Days (whether or not consecutive) during any 30 consecutive Trading Day period
ending within five Trading Days prior to the date on which the Company provides notice of
redemption as set forth in Section 16.02 and (ii) June 20, 2015, irrespective of the sale price
condition described in clause (i), the Company may redeem (an “Optional Redemption”) for cash all
or part of the Notes, upon notice as set forth in Section 16.02, at a redemption price equal to
100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest, if any,
to, but excluding, the Redemption Date (the “Redemption Price”) (unless the Redemption Date falls
after a Regular Record Date but on or

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prior to the immediately succeeding Interest Payment Date, in which case interest accrued to
the Interest Payment Date will be paid to Holders of record of such Notes on such Regular Record
Date, and the Redemption Price will be equal to 100% of the principal amount of the Notes to be
redeemed).

     Section 16.02. Notice of Optional Redemption; Selection of Notes.

     (a) In case the Company exercises its Optional Redemption right to redeem all or, as the case
may be, any part of the Notes pursuant to Section 16.01, it shall fix a date for redemption (each,
a “Redemption Date”) and it or, at its written request received by the Trustee not less than 50
calendar days prior to the Redemption Date (or such shorter period of time as may be acceptable to
the Trustee), the Trustee, in the name of and at the expense of the Company, shall mail or cause to
be mailed a notice of such Optional Redemption (a “Redemption Notice”) not less than 40 nor more
than 60 calendar days prior to the Redemption Date to each Holder of Notes so to be redeemed as a
whole or in part at its last address as the same appears on the Note Register; provided, however,
that if the Company shall give such notice, it shall also give written notice of the Redemption
Date to the Trustee.

     (b) The Redemption Notice, if mailed in the manner herein provided, shall be conclusively
presumed to have been duly given, whether or not the Holder receives such notice. In any case,
failure to give such Redemption Notice by mail or any defect in the Redemption Notice to the Holder
of any Note designated for redemption as a whole or in part shall not affect the validity of the
proceedings for the redemption of any other Note.

     (c) Each Redemption Notice shall specify:

     (i) the Redemption Date (which must be a Business Day);

     (ii) the Redemption Price;

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

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

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

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

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

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     (viii) the CUSIP, ISIN or other similar numbers, if any, assigned to such Notes; and

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

A Redemption Notice shall be irrevocable.

     (d) If fewer than all of the outstanding Notes are to be redeemed, the Trustee shall select
the Notes or portions thereof of a Global Note or the Notes in certificated form to be redeemed (in
principal amounts of $1,000 or multiples thereof) by lot, on a pro rata basis or by another method
the Trustee considers to be fair and appropriate. If any Note selected for partial redemption is
submitted for conversion in part after such selection, the portion of the Note submitted for
conversion shall be deemed (so far as may be possible) to be the portion selected for redemption.
In the event of any redemption in part, the Company shall not be required to (i) issue, register
the transfer of or exchange any Notes during a period beginning at the open of business 15 calendar
days before any selection for redemption of Securities and ending at the close of business on the
earliest date on which the relevant Redemption Notice is deemed to have been given to all Holders
of Notes to be redeemed or (ii) register the transfer of or exchange any Notes so selected for
redemption, in whole or in part, except the unredeemed portion of any Notes being redeemed in part.

     Section 16.03. Payment of Notes Called for Redemption.

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

     (b) Prior to the open of business on the Redemption Date, the Company shall deposit with the
Paying Agent or, if the Company or a Subsidiary of the Company is acting as the Paying Agent, shall
segregate and hold in trust as provided in Section 7.05 an amount of cash (in immediately
available funds if deposited on the Redemption Date), sufficient to pay the Redemption Price of all
of the Notes to be redeemed on such Redemption Date. Subject to receipt of funds by the Paying
Agent, payment for the Notes to be redeemed shall be made promptly after the later of:

     (i) the Redemption Date for such Notes; and

     (ii) the time of presentation of such Note to the Trustee (or other Paying Agent
appointed by the Company) by the Holder thereof in the manner required by this Section
16.03.

The Paying Agent shall, promptly after such payment and upon written demand by the Company, return
to the Company any funds in excess of the Redemption Price.

73

 

     Section 16.04. Restrictions on Redemption. The Company may not redeem any Notes on any date
if the principal amount of the Notes has been accelerated in accordance with the terms of this
Indenture, and such acceleration has not been rescinded, on or prior to the Redemption Date (except
in the case of an acceleration resulting from a Default by the Company in the payment of the
Redemption Price with respect to such Notes).

ARTICLE 17

Miscellaneous Provisions

     Section 17.01. Provisions Binding on Company’s Successors. All the covenants, stipulations,
promises and agreements of the Company contained in this Indenture shall bind its successors and
assigns whether so expressed or not.

     Section 17.02. Official Acts by Successor Corporation. Any act or proceeding by any
provision of this Indenture authorized or required to be done or performed by any board, committee
or Officer of the Company shall and may be done and performed with like force and effect by the
like board, committee or officer of any corporation or other entity that shall at the time be the
lawful sole successor of the Company.

     Section 17.03. Addresses for Notices, Etc. Any notice or demand that by any provision of
this Indenture is required or permitted to be given or served by the Trustee or by the Holders on
the Company shall be deemed to have been sufficiently given or made, for all purposes if given or
served by being deposited postage prepaid by registered or certified mail in a post office letter
box addressed (until another address is filed by the Company with the Trustee) to Insulet
Corporation, 9 Oak Park Drive, Bedford, Massachusetts 01730, Attention: [General Counsel]. Any
notice, direction, request or demand hereunder to or upon the Trustee shall be deemed to have been
sufficiently given or made, for all purposes, if given or served by being deposited postage prepaid
by registered or certified mail in a post office letter box addressed to the Corporate Trust
Office.

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

     Any notice or communication mailed to a Holder shall be mailed to it by first class mail,
postage prepaid, at its address as it appears on the Note Register and shall be sufficiently given
to it if so mailed within the time prescribed.

     Failure to mail a notice or communication to a Holder or any defect in it shall not affect its
sufficiency with respect to other Holders. If a notice or communication is mailed in the manner
provided above, it is duly given, whether or not the addressee receives it.

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

74

 

     Section 17.04. Governing Law. THIS INDENTURE AND EACH NOTE, AND ANY CLAIM, CONTROVERSY OR
DISPUTE ARISING UNDER OR RELATED TO THIS INDENTURE AND EACH NOTE, SHALL BE GOVERNED BY, AND
CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK (WITHOUT REGARD TO THE CONFLICTS OF
LAWS PROVISIONS THEREOF).

     Section 17.05. Evidence of Compliance with Conditions Precedent; Certificates and Opinions of
Counsel to Trustee. Upon any application or demand by the Company to the Trustee to take any
action under any of the provisions of this Indenture, the Company shall, if requested by the
Trustee, furnish to the Trustee an Officers’ Certificate stating that all conditions precedent to
such action have been satisfied and such action is permitted by the terms of this Indenture.

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

     Notwithstanding anything to the contrary in this Section 17.05, if any provision in this
Indenture specifically provides that the Trustee shall or may receive an Opinion of Counsel in
connection with any action to be taken by the Trustee or the Company hereunder, the Trustee shall
be entitled to, or entitled to request, such Opinion of Counsel.

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

     Section 17.07. No Security Interest Created. Nothing in this Indenture or in the Notes,
expressed or implied, shall be construed to constitute a security interest under the Uniform
Commercial Code or similar legislation, as now or hereafter enacted and in effect, in any
jurisdiction.

     Section 17.08. Benefits of Indenture. Nothing in this Indenture or in the Notes, expressed
or implied, shall give to any Person, other than the parties hereto, any Paying Agent, any
Conversion Agent, any authenticating agent, any Note Registrar and their successors hereunder or
the Holders, any benefit or any legal or equitable right, remedy or claim under this Indenture.

     Section 17.09. Table of Contents, Headings, Etc. The table of contents and the titles and
headings of the articles and sections of this Indenture have been inserted for convenience of

75

 

reference only, are not to be considered a part hereof, and shall in no way modify or restrict
any of the terms or provisions hereof.

     Section 17.10. Authenticating Agent. The Trustee may appoint an authenticating agent that
shall be authorized to act on its behalf and subject to its direction in the authentication and
delivery of Notes in connection with the original issuance thereof and transfers and exchanges of
Notes hereunder, including under Section 2.04, Section 2.05, Section 2.06, Section 2.07,
Section 10.04 and Section 15.04 as fully to all intents and purposes as though the authenticating
agent had been expressly authorized by this Indenture and those Sections to authenticate and
deliver Notes. For all purposes of this Indenture, the authentication and delivery of Notes by the
authenticating agent shall be deemed to be authentication and delivery of such Notes “by the
Trustee” and a certificate of authentication executed on behalf of the Trustee by an authenticating
agent shall be deemed to satisfy any requirement hereunder or in the Notes for the Trustee’s
certificate of authentication. Such authenticating agent shall at all times be a Person eligible
to serve as trustee hereunder pursuant to Section 7.08.

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

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

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

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

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

76

 

                    ,

as Authenticating Agent, certifies that this is one of the Notes described
in the within-named Indenture.

By: ____________________

Authorized Officer

     Section 17.11. Execution in Counterparts. This Indenture may be executed in any number of
counterparts, each of which shall be an original, but such counterparts shall together constitute
but one and the same instrument.

     Section 17.12. Severability. In the event any provision of this Indenture or in the Notes
shall be invalid, illegal or unenforceable, then (to the extent permitted by law) the validity,
legality or enforceability of the remaining provisions shall not in any way be affected or
impaired.

     Section 17.13. Waiver of Jury Trial. EACH OF THE COMPANY AND THE TRUSTEE HEREBY IRREVOCABLY
WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN
ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE NOTES OR THE TRANSACTION
CONTEMPLATED HEREBY.

     Section 17.14. Force Majeure. In no event shall the Trustee be responsible or liable for any
failure or delay in the performance of its obligations hereunder arising out of or caused by,
directly or indirectly, forces beyond its control, including, without limitation, strikes, work
stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural
catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications
or computer (software and hardware) services; it being understood that the Trustee shall use
reasonable efforts that are consistent with accepted practices in the banking industry to resume
performance as soon as practicable under the circumstances.

     Section 17.15. Calculations. Except as otherwise provided herein, the Company shall be
responsible for making all calculations called for under the Notes. These calculations include,
but are not limited to, determinations of the Last Reported Sale Prices of the Common Stock,
accrued interest payable on the Notes and the Conversion Rate of the Notes. The Company shall make
all these calculations in good faith and, absent manifest error, the Company’s calculations shall
be final and binding on Holders of Notes. The Company shall provide a schedule of its calculations
to each of the Trustee and the Conversion Agent, and each of the Trustee and Conversion Agent is
entitled to rely conclusively upon the accuracy of the Company’s calculations without independent
verification. The Trustee will forward the Company’s calculations to any Holder of Notes upon the
request of that Holder at the sole cost and expense of the Company.

77

 

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

	 	 	 	 	 
	 	INSULET CORPORATION

 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	WELLS FARGO BANK, National
Association, as Trustee

 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

EXHIBIT A

[FORM OF FACE OF NOTE]

[INCLUDE FOLLOWING LEGEND IF A GLOBAL NOTE]

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

A-1

 

Insulet Corporation

[__.__]% Convertible Senior Note due 2016

	 	 	 

	No. 1

	 	Initially $[_________]
	 
	 	 
	CUSIP No. [_________]
	 	 

     Insulet Corporation, a corporation duly organized and validly existing under the laws of the
State of Delaware (the “Company,” which term includes any successor corporation or other entity
under the Indenture referred to on the reverse hereof), for value received hereby promises to pay
to CEDE & CO., or registered assigns, the principal sum as set forth in the “Schedule of Exchanges
of Notes” attached hereto, which amount, taken together with the principal amounts of all other
outstanding Notes, shall not, unless permitted by the Indenture, exceed $[_________] in aggregate
at any time [(or $[_______] if the Underwriters exercise their option to purchase additional Notes
in full as set forth in the Underwriting
Agreement)]8), in accordance with the rules and
procedures of the Depositary, on June [•], 2011, and interest thereon as set forth below.

     This Note shall bear interest at the rate of [__.__]% per year from June [•], 2011, or from the
most recent date to which interest had been paid or provided for to, but excluding, the next
scheduled Interest Payment Date until June 15, 2016. Accrued interest on this Note shall be
computed on the basis of a 360-day year composed of twelve 30-day months. Interest is payable
semi-annually in arrears on each June 15 and December 15, commencing on December 15, 2011, to
Holders of record at the close of business on the preceding June 1 and December 15 (whether or not
such day is a Business Day), respectively. Additional Interest will be payable as set forth in
Section 6.03 of the within-mentioned Indenture, and any reference to interest on, or in respect
of, any Note therein shall be deemed to include Additional Interest if, in such context, Additional
Interest is, was or would be payable pursuant to any of such Section 6.03 and any express mention
of the payment of Additional Interest in any provision therein shall not be construed as excluding
Additional Interest in those provisions thereof where such express mention is not made.

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

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

A-2

 

and its agency in New York, New York as a place where Notes may be presented for payment or
for registration of transfer.

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

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

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

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

[Remainder of page intentionally left blank]

A-3

 

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

	 	 	 	 	 
	 	INSULET CORPORATION

 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Dated:

TRUSTEE’S CERTIFICATE OF AUTHENTICATION

WELLS FARGO BANK, National Association

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

in the within-named Indenture.

By:  _____________________

       Authorized Officer

A-4

 

[FORM OF REVERSE OF NOTE]

Insulet Corporation

[__.__]% Convertible Senior Note due 2016

     This Note is one of a duly authorized issue of Notes of the Company, designated as its [__.__]%
Convertible Senior Notes due 2016 (the “Notes”), limited to the aggregate principal amount of
$[_________] [(as increased by an amount equal to the aggregate principal amount of any
additional Notes purchased by the Underwriters pursuant to the exercise of their option to purchase
additional Notes as set forth in the Underwriting
Agreement)]9 all issued or to be
issued under and pursuant to an Indenture dated as of June [•], 2011 (the “Indenture”), between the
Company and Wells Fargo Bank, National Association (the “Trustee”), to which Indenture and all indentures
supplemental thereto reference is hereby made for a description of the rights, limitations of
rights, obligations, duties and immunities thereunder of the Trustee, the Company and the Holders
of the Notes. Additional Notes may be issued in an unlimited aggregate principal amount, subject
to certain conditions specified in the Indenture.

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

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

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

     No reference herein to the Indenture and no provision of this Note or of the Indenture shall
alter or impair the obligation of the Company, which is absolute and unconditional, to pay the
principal (including the Fundamental Change Purchase Price, if applicable) of and accrued

A-5

 

and unpaid interest on this Note at the place, at the respective times, at the rate and in the
lawful money herein prescribed.

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

     The Notes shall be redeemable at the Company’s option in accordance with the terms and
conditions specified in the Indenture.

     Upon the occurrence of a Fundamental Change, the Holder has the right, at such Holder’s
option, to require the Company to purchase for cash all of such Holder’s Notes or any portion
thereof (in principal amounts of $1,000 or multiples thereof) on the Fundamental Change Purchase
Date at a price equal to the Fundamental Change Purchase Price.

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

     Terms used in this Note and defined in the Indenture are used herein as therein defined.

A-6

 

ABBREVIATIONS

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

TEN COM = as tenants in common

UNIF GIFT MIN ACT = Uniform Gifts to Minors Act

CUST = Custodian

TEN ENT = as tenants by the entireties

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

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

A-7

 

SCHEDULE A

SCHEDULE OF EXCHANGES OF NOTES

Insulet Corporation

[__.__]% Convertible Senior Notes due 2016

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

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Principal amount	 	Signature of
	 	 	Amount of	 	Amount of	 	of this Global Note	 	authorized
	 	 	decrease in	 	increase in	 	following such	 	signatory of
	 	 	principal amount	 	principal amount	 	decrease or	 	Trustee or
	Date of exchange	 	of this Global Note	 	of this Global Note	 	increase	 	Custodian
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 

A-8

 

ATTACHMENT 1

[FORM OF NOTICE OF CONVERSION]

To: Insulet Corporation

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

	 	 	 	 	 	 	 	 	 

	Dated:
	 	 	 	 	 	 	 	 
	 

	 	 

	 	 
	 	 

	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 

Signature(s)
	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	Signature Guarantee	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Signature(s) must be guaranteed
by an eligible Guarantor Institution
(banks, stock brokers, savings and
loan associations and credit unions)
with membership in an approved
signature guarantee medallion program
pursuant to Securities and Exchange
Commission Rule 17Ad-15 if shares
of Common Stock are to be issued, or
Notes are to be delivered, other than
to and in the name of the registered holder.
	 
	 	 	 	 	 	 	 	 
	Fill in for registration of shares if
to be issued, and Notes if to

1

 

	 	 	 	 	 	 	 	 	 

	be delivered, other than to and in the
name of the registered holder:
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	(Name)	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	(Street Address)	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	(City, State and Zip Code)

Please print name and address	 	 	 	 	 	 

	 	 	 

	 

	 	Principal amount to be converted
(if less than all): $______,000
	 
	 	 
	 

	 	NOTICE: The above signature(s) of the Holder(s) hereof must
correspond with the name as written upon the face of the Note
in every particular without alteration or enlargement or any
change whatever.
	 
	 	 
	 

	 	_________________________

Social Security or Other Taxpayer 

Identification Number

2

 

ATTACHMENT 2

[FORM OF FUNDAMENTAL CHANGE PURCHASE NOTICE]

To: Insulet Corporation

     The undersigned registered owner of this Note hereby acknowledges receipt of a notice from
Insulet Corporation (the “Company”) as to the occurrence of a Fundamental Change with respect to
the Company and specifying the Fundamental Change Purchase Date and requests and instructs the
Company to pay to the registered holder hereof in accordance with Section 15.02 of the Indenture
referred to in this Note (1) the entire principal amount of this Note, or the portion thereof (that
is $1,000 principal amount or a multiple thereof) below designated, and (2) if such Fundamental
Change Purchase Date does not fall during the period after a Regular Record Date and on or prior to
the corresponding Interest Payment Date, accrued and unpaid interest, if any, thereon to, but
excluding, such Fundamental Change Purchase Date.

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

Dated: _____________________

	 	 	 

	 

	 	______________________

Signature(s)
	 
	 	 
	 

	 	_________________________

Social Security or Other Taxpayer 

Identification Number
	 
	 	 
	 

	 	Principal amount to be repaid (if less than all): $______,000
	 
	 	 
	 

	 	NOTICE: The above signature(s) of the Holder(s) hereof must
correspond with the name as written upon the face of the Note
in every particular without alteration or enlargement or any
change whatever.

1

 

ATTACHMENT 3

[FORM OF ASSIGNMENT AND TRANSFER]

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

	 	 	 	 	 

	Dated:
	 	 	 	 
	 

	 	 

	 	 
	 
	 	 
	 	 	 
	 
	 	 
	 	 	 
	Signature(s)	 	 
	 
	 	 
	 	 	 
	Signature Guarantee	 	 
	 
	 	 
	Signature(s) must be guaranteed by an
eligible Guarantor Institution (banks, stock
brokers, savings and loan associations and
credit unions) with membership in an approved
signature guarantee medallion program pursuant
to Securities and Exchange Commission
Rule 17Ad-15 if Notes are to be delivered, other
than to and in the name of the registered holder.

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

1

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