Document:

Exhibit 10.1

 

Execution Version

 

$500,000,000

 

ENVESTNET, INC.

 

2.625% Convertible Notes due 2027

 

 

 

Purchase Agreement

 

November 14, 2022

 

Morgan Stanley & Co. LLC

BofA Securities, Inc.

BMO Capital Markets Corp.

J.P. Morgan Securities LLC

 

As representatives (the “Representatives”)
of the several Purchasers

named in Schedule I hereto,

 

c/o Morgan Stanley & Co. LLC

1585 Broadway

New York, New York 10036

 

Ladies and Gentlemen:

 

Envestnet, Inc., a Delaware
corporation (the “Company”), proposes, subject to the terms and conditions set forth in this agreement (this “Agreement”),
to issue and sell to the entities named in Schedule I hereto (the “Purchasers”), for whom you (the “Representatives”)
are acting as representatives, an aggregate of $500,000,000 principal amount of its 2.625% Convertible Notes due 2027, convertible into
the common stock, par value $0.005 per share (the “Stock”), of the Company (the “Firm Notes”) and, at the election
of the Purchasers, up to an aggregate of $75,000,000 additional principal amount of the Company’s 2.625% Convertible Notes due 2027
solely to cover overallotments (the “Optional Notes”). The Firm Notes and the Optional Notes that the Purchasers elect to
purchase pursuant to Section 2 hereof are herein collectively called the “Notes.” The Company’s obligations under the
Notes will be fully and unconditionally guaranteed (the “Guarantee”) on an unsecured basis by Envestnet Asset Management,
Inc., a Delaware corporation (the “Guarantor”), and a wholly-owned subsidiary of the Company. The Notes and the Guarantee
are collectively referred to herein as the “Securities.” The Notes and the Guarantee are to be issued pursuant to an indenture
to be dated as of November 17, 2022 (the “Indenture”), by and among the Company, the Guarantor and U.S. Bank Trust Company,
National Association, as trustee (the “Trustee”).

 

     

     

    

 

In connection with the offering
of Firm Notes, the Company is entering into capped call transactions with one or more counterparties, which may include Purchasers or
their affiliates and/or other financial institutions (the “Option Counterparties”) covering the number of shares of Stock
underlying the Firm Notes pursuant to capped call confirmations (the “Base Capped Call Confirmations”), each dated the date
hereof, and in connection with the exercise by the Purchasers of their option to purchase any Optional Notes, the Company and the Option
Counterparties may enter into additional capped call transactions pursuant to additional capped call confirmations (the “Additional
Capped Call Confirmations”), each dated the date on the which the Purchasers exercise their option to purchase such Optional Notes.
The Base Capped Call Confirmations and the Additional Capped Call Confirmations are collectively referred to herein as the “Capped
Call Confirmations.”

 

The sale of the Securities
to the Purchasers will be made without registration of the Securities or the Stock issuable upon conversion thereof under the Securities
Act of 1933, as amended (the “Securities Act”), in reliance upon exemptions from the registration requirements of the Securities
Act. The Representatives have advised the Company that the Purchasers will offer and sell the Securities purchased by them hereunder in
accordance with Section 6 hereof as soon as the Representatives deem advisable.

 

In connection with the offering
of the Securities, the Company has prepared a preliminary offering memorandum, dated November 14, 2022 (the “Preliminary Offering
Memorandum”). Promptly after the execution of this Agreement, the Company will prepare and deliver to the Purchasers an offering
memorandum (the “Offering Memorandum”) relating to the offering of the Securities which will consist of the information in
the Preliminary Offering Memorandum with such changes therein as are required to reflect the information set forth in Schedule III hereto.

 

Any reference to the Preliminary
Offering Memorandum, the Pricing Disclosure Package (as defined in Section 1(b)) or the Offering Memorandum (or to any information “contained,”
“included” or “stated” (or other references of like import) in the Preliminary Offering Memorandum, the Pricing
Disclosure Package or the Offering Memorandum) shall be deemed to refer to and include all documents filed with the U.S. Securities and
Exchange Commission (the “Commission”) pursuant to Section 13(a), 13(c) or 15(d) of the Securities Exchange Act of 1934, as
amended (the “Exchange Act”), on or prior to the date of the Preliminary Offering Memorandum, the Pricing Disclosure Package
or the Offering Memorandum, as the case may be, and incorporated by reference therein; and reference to the Preliminary Offering Memorandum,
the Pricing Disclosure Package or the Offering Memorandum, as the case may be, as amended or supplemented, as of any specified date, shall
be deemed to include (i) any documents filed with the Commission pursuant to Section 13(a), 13(c) or 15(d) of the Exchange Act after the
date of the Preliminary Offering Memorandum, the Pricing Disclosure Package or the Offering Memorandum, as the case may be, and prior
to such specified date and (ii) any Additional Issuer Information (as defined in Section 5(e)) furnished by the Company or the Guarantor
prior to the completion of the distribution of the Securities.

 

		1.	The Company and the Guarantor, jointly and severally, represent and warrant to, and agree with, each of
the Purchasers that:

 

		(a)	The Preliminary Offering Memorandum or the Offering Memorandum and any amendments or supplements thereto
did not and will not, as of their respective dates, contain an untrue statement of a material fact or omit to state a material fact necessary
in order to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided,
however, that this representation and warranty shall not apply to any statements or omissions made in reliance upon and in conformity
with the Purchasers’ Information (as defined in Section 9(a));

 

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		(b)	For the purposes of this Agreement, the “Applicable Time” is 11:45 p.m. (New York City time)
on the date of this Agreement. The Preliminary Offering Memorandum, as supplemented by the information set forth in Schedule III hereto,
taken together (collectively, the “Pricing Disclosure Package”), as of the Applicable Time, did not include any untrue statement
of a material fact or omit to state any material fact necessary in order to make the statements therein, in the light of the circumstances
under which they were made, not misleading; and each Company Supplemental Disclosure Document (as defined in Section 6(a) and listed on
Schedule II(a) hereto) did not, as of its date of issue, conflict with the information contained in the Preliminary Offering Memorandum
or the Offering Memorandum and each Company Supplemental Disclosure Document, as supplemented by and taken together with the Pricing Disclosure
Package as of the Applicable Time, did not include any untrue statement of a material fact or omit to state any material fact necessary
in order to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided, however
that this representation and warranty shall not apply to statements or omissions made in the Preliminary Offering Memorandum, the Pricing
Disclosure Package or in a Company Supplemental Disclosure Document, in each case in reliance upon and in conformity with the Purchasers’
Information;

 

		(c)	The documents incorporated by reference in the Pricing Disclosure Package and the Offering Memorandum,
when they were filed with the Commission, conformed in all material respects to the requirements of the Exchange Act, and the rules and
regulations of the Commission thereunder, and none of such incorporated documents contained an untrue statement of a material fact or
omitted to state a material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances
under which they were made, not misleading;

 

		(d)	Neither the Company nor any of its subsidiaries has sustained since the date of the latest audited financial
statements included or incorporated by reference in the Pricing Disclosure Package any material loss or interference with its business,
direct or contingent, including from fire, explosion, flood or other calamity, whether or not covered by insurance, or from any labor
dispute or court or governmental action, order or decree, otherwise than as described or contemplated in the Pricing Disclosure Package;
and, since the respective dates as of which information is given in the Pricing Disclosure Package, (i) the Company and its subsidiaries
have not incurred any material liability or obligation, direct or contingent, nor entered into any material transaction; (ii) the Company
has not purchased any of its outstanding capital stock, nor declared, paid or otherwise made any dividend or distribution of any kind
on its capital stock (iii) there has not been any change in the capital stock, short-term debt or long-term debt of the Company or any
of its subsidiaries, taken as a whole, other than, in the case of clauses (i), (ii) and (iii), changes described or contemplated in the
Pricing Disclosure Package; and (iv) there has not been any material adverse change in the condition, financial or otherwise, or in the
earnings, business or operations of the Company and its subsidiaries, taken as a whole (a “Material Adverse Effect”);

 

		(e)	The Company and its subsidiaries have good and marketable title to all property owned by them which is
material to the business of the Company and its subsidiaries, in each case free and clear of all liens, encumbrances and defects except
such as are described in the Pricing Disclosure Package or such as do not materially affect the value of such property and do not interfere
with the use made and proposed to be made of such property by the Company and its subsidiaries; and any real property and buildings held
under lease by the Company and its subsidiaries are held by them under valid, subsisting and enforceable leases with such exceptions as
are not material and do not materially interfere with the use made and proposed to be made of such property and buildings by the Company
and its subsidiaries, in each case except as described in the Pricing Disclosure Package;

 

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		(f)	The Company and its subsidiaries (i) are in compliance with any and all applicable foreign, federal, state
and local laws and regulations relating to the protection of human health and safety, the environment or hazardous or toxic substances
or wastes, pollutants or contaminants (“Environmental Laws”), (ii) have received all permits, licenses or other approvals
required of them under applicable Environmental Laws to conduct their respective businesses and (iii) are in compliance with all terms
and conditions of any such permit, license or approval, except where such noncompliance with Environmental Laws, failure to receive required
permits, licenses or other approvals or failure to comply with the terms and conditions of such permits, licenses or approvals would not,
individually or in the aggregate, reasonably be expected to have a Material Adverse Effect; there are no costs or liabilities associated
with Environmental Laws (including, without limitation, any capital or operating expenditures required for clean-up, closure of properties
or compliance with Environmental Laws or any permit, license or approval, any related constraints on operating activities and any potential
liabilities to third parties) which would, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect;

 

		(g)	The Company (i) has been duly incorporated and is validly existing as a corporation in good standing under
the laws of the State of Delaware, with corporate power and corporate authority to own its properties and conduct its business as described
in the Pricing Disclosure Package, and (ii) has been duly qualified as a foreign corporation for the transaction of business and is in
good standing under the laws of each other jurisdiction in which it owns or leases properties or conducts any business so as to require
such qualification, except in the case of clause (ii), where the failure to be so qualified or in good standing would not have a Material
Adverse Effect; and each subsidiary of the Company (including the Guarantor) (x) has been duly incorporated or formed, as the case may
be, and is validly existing as a corporation or limited liability company, as applicable, in good standing under the laws of its jurisdiction
of incorporation or formation, with the company power and authority to own its properties and conduct its business as described in the
Pricing Disclosure Package, and (y) has been duly qualified as a foreign corporation or limited liability company for the transaction
of business and is in good standing under the laws of each other jurisdiction in which it owns or leases properties or conducts any business
so as to require such qualification, except in the case of clause (y), where the failure to be so qualified or in good standing would
not have a Material Adverse Effect;

 

		(h)	The Company has an authorized capitalization as set forth in the Pricing Disclosure Package under the
captions “Capitalization” and “Description of Capital Stock” and all of the issued shares of capital stock of
the Company have been duly authorized and validly issued and are fully paid and non-assessable and conform in all material respects to
the description of the Stock contained in the Pricing Disclosure Package under the captions “Capitalization” and “Description
of Capital Stock”; and all of the issued shares of capital stock of each subsidiary of the Company have been duly authorized and
validly issued, are fully paid and non-assessable and (except for directors’ qualifying shares) are owned directly or indirectly
by the Company, free and clear of all liens, encumbrances, equities or claims;

 

		(i)	The execution and delivery of this Agreement, the Indenture, the Notes, the Guarantee and the Capped Call
Confirmations by the Company and the Guarantor, as applicable, the performance by the Company and the Guarantor of their respective obligations
under this Agreement, the Indenture, the Notes, the Guarantee and the Capped Call Confirmations, as applicable, and the consummation of
the transactions herein and therein contemplated (A) will not conflict with or result in a breach or violation of any of the terms or
provisions of, or constitute a default under, any indenture, mortgage, deed of trust, loan agreement, lease or other agreement or instrument
to which the Company or any of its subsidiaries is a party or by which the Company or any of its subsidiaries is bound or to which any
of the property or assets of the Company or any of its subsidiaries is subject, except for any such conflicts, breaches, violations or
defaults that would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect, (B) will not violate
any of the provisions of the Certificate of Incorporation or Bylaws of the Company, the Certificate of Incorporation or Bylaws of the
Guarantor or the organizational documents of any other subsidiary of the Company, (C) will not violate any statute or any order, rule
or regulation of any court or governmental agency or body having jurisdiction over the Company or any of its subsidiaries or any of their
properties, except for any such violations that would not, individually or in the aggregate, reasonably be expected to have a Material
Adverse Effect and (D) will not require any consent, approval, authorization, order, registration or qualification of or with any court,
governmental agency or body or third party, except for such consents, approvals, authorizations, orders, registrations or qualifications
as may be required under state securities or Blue Sky laws in connection with the purchase and distribution of the Securities by the Purchasers;

 

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		(j)	Neither the Company nor any of its subsidiaries is (A) in violation of its Certificate of Incorporation,
Bylaws or other organizational documents or (B) in default in the performance or observance of any obligation, agreement, covenant or
condition contained in any indenture, mortgage, deed of trust, loan agreement, lease or other agreement or instrument to which it is a
party or by which it or any of its properties may be bound, except in the case of clause (B), to the extent that such default would not
have a Material Adverse Effect;

 

		(k)	The statements set forth (A) in the Pricing Disclosure Package and the Offering Memorandum under the caption
“Description of Capital Stock,” insofar as they purport to constitute a summary of the terms of the Stock, (B) in the Pricing
Disclosure Package and the Offering Memorandum under the caption “Description of the Notes,” insofar as they purport to constitute
a summary of the terms of the Securities or the Indenture, (C) in the Pricing Disclosure Package and the Offering Memorandum under the
caption “Description of Capped Call Transactions,” insofar as they purport to constitute a summary of the terms of the Capped
Call Confirmations and (D) in the Pricing Disclosure Package and the Offering Memorandum under the captions “Material United States
Federal Tax Considerations” and “Plan of Distribution,” and in the Company’s Annual Report on Form 10-K for the
year ended December 31, 2021 under the caption “Item 1. Business—Regulation,” insofar as they purport to describe the
provisions of the laws, matters and documents referred to therein, fairly summarize in all material respects such terms, laws, matters
and documents;

 

		(l)	Other than as set forth in the Pricing Disclosure Package, there are no legal or governmental proceedings
pending to which the Company or any of its subsidiaries is a party or of which any property or assets of the Company or any of its subsidiaries
is the subject which (A) if determined adversely to the Company or any of its subsidiaries or any officer or director, would individually
or in the aggregate reasonably be expected to have a Material Adverse Effect or materially adversely affect the power or ability of the
Company to perform its obligations under this Agreement or to consummate the transactions contemplated by the Pricing Disclosure Package
or (B) would be required by the Securities Act to be described in a registration statement on Form S-1 to be filed with the Commission
if the offer and sale of the Securities contemplated hereunder were made pursuant to such registration statement that have not been described
in each of the Pricing Disclosure Package and the Offering Memorandum; and, to the Company’s and the Guarantor’s knowledge,
no such proceedings are threatened by governmental authorities or threatened by others;

 

		(m)	Each of the Company and the Guarantor is not and, after giving effect to the offering and sale of the
Securities, the application of the proceeds thereof and the transactions contemplated by the Capped Call Confirmations, will not be required
to register as an “investment company” under the Investment Company Act of 1940, as amended (the “Investment Company
Act”);

 

		(n)	KPMG LLP, who have audited certain financial statements of the Company and its subsidiaries, are independent
certified public accountants with respect to the Company under the Securities Act and the rules and regulations of the Commission thereunder
and the Public Company Accounting Oversight Board (United States);

 

		(o)	The Company maintains a system of internal control over financial reporting (as such term is defined in
Rule 13a-15(f) under the Exchange Act) that complies with the requirements of the Exchange Act and has been designed by the Company’s
principal executive officer and principal financial officer, or under their supervision, to provide reasonable assurance (i) regarding
the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally
accepted accounting principles in the United States (“GAAP”) and the Commission’s rules and guidelines applicable thereto
and (ii) that the interactive data in eXtensible Business Reporting Language included or incorporated by reference in the Pricing Disclosure
Package and the Offering Memorandum fairly presents the information called for in all material respects and is prepared in accordance
with the Commission’s rules and guidelines applicable thereto; and except as disclosed in the Pricing Disclosure Package, the Company’s
internal control over financial reporting is effective and the Company is not aware of any material weaknesses in its internal control
over financial reporting;

 

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		(p)	Since the date of the latest audited financial statements included in the Pricing Disclosure Package,
there has been no change in the Company’s internal control over financial reporting that has materially and adversely affected,
or is reasonably likely to materially and adversely affect, the Company’s internal control over financial reporting;

 

		(q)	The Company maintains disclosure controls and procedures (as such term is defined in Rule 13a-15(e) under
the Exchange Act) that comply with the requirements of the Exchange Act; such disclosure controls and procedures have been designed to
ensure that material information relating to the Company and its subsidiaries is made known to the Company’s principal executive
officer and principal financial officer by others within those entities; and such disclosure controls and procedures are effective;

 

		(r)	This Agreement has been duly authorized, executed and delivered by the Company and the Guarantor;

 

		(s)	The Indenture has been duly authorized by the Company and the Guarantor and, at the First Time of Delivery
(as defined in Section 4(a) hereof), will have been duly executed and delivered by the Company and the Guarantor and will constitute a
valid and binding agreement of the Company and the Guarantor, enforceable against the Company and the Guarantor in accordance with its
terms, except as the enforcement thereof may be limited by bankruptcy, insolvency (including, without limitation, all laws relating to
fraudulent transfers), reorganization, moratorium or similar laws affecting enforcement of creditors’ rights generally and except
as enforcement thereof is subject to general principles of equity (regardless of whether enforcement is considered in a proceeding in
equity or at law);

 

		(t)	The Notes have been duly authorized by the Company and, at the Time of Delivery of the Notes, will have
been duly executed by the Company and, when authenticated, issued and delivered in the manner provided for in the Indenture and delivered
against payment of the purchase price therefor as provided in this Agreement, will constitute valid and binding obligations of the Company,
enforceable against the Company in accordance with their terms, except as the enforcement thereof may be limited by bankruptcy, insolvency
(including, without limitation, all laws relating to fraudulent transfers), reorganization, moratorium or similar laws affecting enforcement
of creditors’ rights generally and except as enforcement thereof is subject to general principles of equity (regardless of whether
enforcement is considered in a proceeding in equity or at law), and will be in the form contemplated by, and entitled to the benefits
of, the Indenture;

 

		(u)	The Guarantee has been duly authorized by the Guarantor and, when the Notes have been duly executed, authenticated,
issued and delivered in the manner provided for in the Indenture and delivered against payment of the purchase price therefor as provided
in this Agreement, will constitute valid and binding obligations of the Guarantor, enforceable against the Guarantor in accordance with
its terms, except as the enforcement thereof may be limited by bankruptcy, insolvency (including, without limitation, all laws relating
to fraudulent transfers), reorganization, moratorium or similar laws affecting enforcement of creditors’ rights generally and except
as enforcement thereof is subject to general principles of equity (regardless of whether enforcement is considered in a proceeding in
equity or at law), and will be in the form contemplated by, and entitled to the benefits of, the Indenture;

 

		(v)	The shares of Stock issuable upon conversion of the Securities have been duly authorized and reserved
for issuance upon such conversion by all necessary corporate action and such shares, when issued upon such conversion, will be validly
issued and will be fully paid and non-assessable; no holder of such shares will be subject to personal liability by reason of being such
a holder; and the issuance of such shares upon such conversion will not be subject to the preemptive or other similar rights of any securityholder
of the Company;

 

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		(w)	Neither the Company nor any of its subsidiaries or affiliates, nor any director, officer, or employee,
nor, to the Company’s or the Guarantor’s knowledge, any agent or representative of the Company or of any of its subsidiaries
or affiliates, has taken any action in furtherance of an offer, payment, promise to pay, or authorization or approval of the payment or
giving of money, property, gifts or anything else of value, directly or indirectly, to any “government official” (including
any officer or employee of a government or government-owned or controlled entity or of a public international organization, or any person
acting in an official capacity for or on behalf of any of the foregoing, or any political party or party official or candidate for political
office) to influence official action or secure an improper advantage; and the Company and its subsidiaries and affiliates have conducted
their businesses in compliance with applicable anti-corruption laws, including, without limitation, the U.S. Foreign Corrupt Practices
Act of 1977, and have instituted and maintained policies and procedures designed to promote and achieve compliance with such laws;

 

		(x)	The Company and its subsidiaries own or possess, or can acquire on commercially reasonable terms, adequate
rights to use all material patents, patent rights, licenses, inventions, copyrights, know how (including trade secrets and other unpatented
and/or unpatentable proprietary or confidential information, systems or procedures), trademarks, service marks, trade names and other
intellectual property rights, moral rights and other rights (collectively, “Intellectual Property Rights”) used or employed
by them in connection with, or necessary for the conduct of, the business now operated by them;

 

		(y)	(A) There are no rights of third parties to any of the Intellectual Property Rights owned by the Company
or its subsidiaries (other than Intellectual Property Rights licensed or granted by the Company in the ordinary course of its business);
(B) there is no infringement, misappropriation, breach, default or other violation (1) by the Company or its subsidiaries of any of the
Intellectual Property Rights of third parties or (2) to the Company’ knowledge, by third parties of any of the Intellectual Property
Rights of the Company or its subsidiaries; and (C) there is no pending, or to the Company’s knowledge, threatened action, suit,
proceeding or claim by others (1) challenging the Company’s or any subsidiary’s rights in or to, or the validity, enforceability
or scope of, any of their Intellectual Property Rights, or (2) that the Company or any subsidiary infringes, misappropriates or otherwise
violates or conflicts with any Intellectual Property Rights of others, except in each case covered by clauses (A), (B) and (C) such as
would not, if determined adversely to the Company or any of its subsidiaries, individually or in the aggregate, reasonably be expected
to have a Material Adverse Effect;

 

		(z)	The financial statements, including the notes thereto, and the supporting schedules included in the Pricing
Disclosure Package present fairly, in all material respects, the financial position at the dates indicated and the results of operations
and cash flows for the periods indicated of the Company and its consolidated subsidiaries; except as otherwise stated in the Pricing Disclosure
Package, such financial statements have been prepared in conformity with GAAP applied on a consistent basis throughout the periods involved;
and the supporting schedules, if any, included in the Pricing Disclosure Package present fairly the information required to be stated
therein. The historical financial data set forth or included in the Pricing Disclosure Package under the captions “Offering Memorandum
Summary – Summary Consolidated Financial Data”, “Selected Financial Data” and “Management’s Discussion
and Analysis of Financial Condition and Results of Operations” present fairly in all material respects the information included
therein. No other financial statements or supporting schedules would be required by the Securities Act to be included in a registration
statement on Form S-1 to be filed with the Commission if the offer and sale of the Securities contemplated hereunder were made pursuant
to such registration statement that have not been included in the Pricing Disclosure Package. The other financial information included
in the Pricing Disclosure Package presents fairly in all material respects the information included therein and has been prepared on a
basis consistent with that of the financial statements that are included in the Pricing Disclosure Package and the books and records of
the respective entities presented therein. The pro forma financial statements of the Company and its subsidiaries and the related notes
thereto incorporated by reference in the Pricing Disclosure Package present fairly the information contained therein, have been prepared
in accordance with the Commission’s rules and guidelines with respect to pro forma financial statements and have been properly presented
on the basis described therein, and the assumptions used in the preparation thereof are reasonable and the adjustments used therein are
appropriate to give effect to the transactions and circumstances referred to therein. The interactive data in eXtensible Business Reporting
Language included or incorporated by reference in the Pricing Disclosure Package and the Offering Memorandum fairly presents the information
called for in all material respects and has been prepared in accordance with the Commission’s rules and guidelines applicable thereto;

 

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		(aa)	The Company and each of its subsidiaries are insured by insurers of recognized financial responsibility
against such losses and risks and in such amounts as are, in the Company’s reasonable judgment, prudent and customary in the businesses
in which they are engaged; neither the Company nor any of its subsidiaries has been refused any insurance coverage sought or applied for;
and neither the Company nor any of its subsidiaries has any reason to believe that it will not be able to renew its existing insurance
coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business
at a cost that would not have a Material Adverse Effect;

 

		(bb)	The Company is in compliance in all material respects with all applicable provisions of the Sarbanes-Oxley
Act of 2002, as amended, and all rules and regulations promulgated thereunder currently in effect and with which the Company is required
to comply;

 

		(cc)	Except as described in the Pricing Disclosure Package, during the six-month period preceding the date
hereof, none of the Company, the Guarantor or any person acting on behalf of the Company or the Guarantor has offered, sold, issued or
distributed to any person any shares of Stock and any securities of the same or a similar class as the Securities, including any offers
and sales pursuant to Rule 144A under, or Regulation D or S of, the Securities Act, other than the Securities offered or sold to the Purchasers
hereunder or shares issued pursuant to employee benefit plans, qualified stock option plans or other employee compensation plans or pursuant
to outstanding options, rights or warrants; the Company and the Guarantor will take reasonable precautions designed to ensure that any
offer or sale, direct or indirect, in the United States or to any U.S. person (as defined in Rule 902 under the Securities Act) of any
Securities or any substantially similar security issued by the Company or the Guarantor, within six months subsequent to the date on which
the distribution of the Securities has been completed (as notified to the Company by Morgan Stanley & Co. LLC), is made under restrictions
and other circumstances reasonably designed not to affect the status of the offer and sale of the Securities in the United States and
to U.S. persons contemplated by this Agreement as transactions exempt from the registration provisions of the Securities Act;

 

		(dd)	There are no statutes, regulations, contracts or other documents that would be required by the Securities
Act to be described in a registration statement on Form S-1 to be filed with the Commission if the offer and sale of the Securities contemplated
hereunder were made pursuant to such registration statement that have not been described in each of the Pricing Disclosure Package and
the Offering Memorandum;

 

		(ee)	All United States federal tax returns and state tax returns required to be filed by the Company and its
subsidiaries in all jurisdictions in which the Company or its subsidiaries are incorporated or formed or are qualified to do business
have been timely and duly filed, or the Company and its subsidiaries have requested and received extensions thereof, other than those
filings being contested in good faith, and except where the failure to file would not have a Material Adverse Effect. Other than as disclosed
in the Pricing Disclosure Package, there are no tax returns of the Company and its subsidiaries that are currently being audited by state,
local or federal taxing authorities or agencies (and with respect to which the Company or its subsidiaries has received notice). All material
taxes, including withholding taxes, penalties and interest, assessments, fees and other charges due or claimed to be due to such entities
(and with respect to which the Company or its subsidiaries have received notice), have been paid, other than those being contested in
good faith and for which adequate reserves have been provided or those currently payable without penalty or interest;

 

		(ff)	The operations of the Company and its subsidiaries are and have been conducted at all times in material
compliance with the Employee Retirement Income Security Act of 1974, as amended, including the regulations and published interpretations
thereunder, and any related or similar rules, regulations or guidelines, issued, administered or enforced by any governmental agency (collectively,
the “Employee Benefit Laws”) and no action, suit or proceeding by or before any court or governmental agency, authority or
body or any arbitrator to which the Company or any of its subsidiaries is a party with respect to the Employee Benefit Laws is pending
or, to the knowledge of the Company, threatened;

 

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		(gg)	No material labor dispute with the employees of the Company or any of its subsidiaries exists, except
as described in the Pricing Disclosure Package, or, to the knowledge of the Company, is imminent;

 

		(hh)	Except as disclosed in the Pricing Disclosure Package, there are no contracts, agreements or understandings
between the Company or its subsidiaries and any person that would give rise to a valid claim against the Company or any Purchaser for
a brokerage commission, finder’s fee or other like payment in connection with this offering;

 

		(ii)	None of the outstanding shares of Stock were issued in violation of any preemptive rights, rights of first
refusal or other similar rights to subscribe for or purchase securities of the Company; there are no persons with registration or other
similar rights to have securities of the Company registered under the Securities Act other than as disclosed in the Pricing Disclosure
Package; there are no authorized or outstanding options, warrants, preemptive rights, rights of first refusal or other rights to purchase,
or equity or debt securities convertible into or exchangeable or exercisable for, any capital stock of the Company or any of its subsidiaries
other than those described in the Pricing Disclosure Package; and the description of the Company’s stock option, stock bonus and
other stock plans or arrangements, and the options or other rights granted thereunder, included in the Pricing Disclosure Package fairly
presents the information required to be shown with respect to such plans, arrangements, options and rights;

 

		(jj)	Prior to the date hereof, neither the Company nor any of its affiliates has taken any action which is
designed to or which has constituted or which might have been expected to cause or result in stabilization or manipulation of the price
of any security of the Company in connection with the offering of the Securities;

 

		(kk)	Neither the Company nor any person acting on its or their behalf (other than the Purchasers, as to which
no representation is made) has offered or sold the Securities by means of any general solicitation or general advertising within the meaning
of Rule 502(c) under the Securities Act or in any manner involving a public offering within the meaning of Section 4(a)(2) of the Securities
Act;

 

		(ll)	When issued, the Securities will not be of the same class (within the meaning of Rule 144A under the Securities
Act) as securities listed on a national securities exchange registered under Section 6 of the Exchange Act or quoted in a U.S. automated
inter-dealer quotation system;

 

		(mm)	Assuming the accuracy of the representations and warranties of the Purchasers contained in Section 3 and
their compliance with their agreements set forth therein, it is not necessary, in connection with the issuance and sale of the Securities
to the Purchasers and the offer, resale and delivery of the Securities by the Purchasers in the manner contemplated by this Agreement,
the Pricing Disclosure Package and the Offering Memorandum, to register the Securities under the Securities Act or to qualify the Indenture
under the Trust Indenture Act of 1939, as amended;

 

		(nn)	Neither the Company nor any of its subsidiaries, nor any director, officer, or employee thereof, nor,
to the Company’s or the Guarantor’s knowledge, any agent, affiliate or representative of the Company or any of its subsidiaries,
is an individual or entity (“Person”) that is, or is owned or controlled by a Person that is (A) the subject of any sanctions
administered or enforced by the U.S. Department of Treasury’s Office of Foreign Assets Control, the United Nations Security Council,
the European Union, Her Majesty’s Treasury, or other relevant sanctions authority (collectively, “Sanctions”) or (B)
located, organized or resident in a country or territory that is the subject of Sanctions (including, without limitation, the Crimea,
the so-called Donetsk People’s Republic and the so-called Luhansk People’s Republic regions of Ukraine, Cuba, Iran, North
Korea, Sudan and Syria); the Company will not, directly or indirectly, use the proceeds of the offering, or lend, contribute or otherwise
make available such proceeds to any subsidiary, joint venture partner or other Person (x) to fund or facilitate any activities or business
of or with any Person or in any country or territory that, at the time of such funding or facilitation, is the subject of Sanctions or
(y) in any other manner that will result in a violation of Sanctions by any Person (including any Person participating in the offering,
whether as Purchaser, advisor, investor or otherwise); and the Company and its subsidiaries have not knowingly engaged in, are not now
knowingly engaged in, and will not engage in, any dealings or transactions with any Person, or in any country or territory, that at the
time of the dealing or transaction is or was the subject of Sanctions;

 

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		(oo)	The operations of the Company and its subsidiaries are and have been conducted at all times in compliance
with applicable financial record-keeping and reporting requirements, including those of the Bank Secrecy Act, as amended by Title III
of the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (USA
PATRIOT Act), the Currency and Foreign Transactions Reporting Act of 1970, as amended, the applicable money laundering statutes of jurisdictions
where the Company and the Subsidiaries conduct business, the applicable rules and regulations thereunder and any related or similar rules,
regulations or guidelines, issued, administered or enforced by any governmental agency (collectively, the “Money Laundering Laws”),
and no action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving the Company
or any of its subsidiaries with respect to the Money Laundering Laws is pending or, to the knowledge of the Company, threatened;

 

		(pp)	The Company and its subsidiaries possess all certificates, authorizations, registrations and permits issued
by the appropriate federal, state, self-regulatory organization or foreign regulatory authorities necessary to conduct their respective
businesses, except where the failure to possess any such certificate, authorization, registration or permit would not, individually or
in the aggregate, reasonably be expected to have a Material Adverse Effect; and neither the Company nor any of its subsidiaries has received
any notice of proceedings relating to the revocation or modification of any such certificate, authorization, registration or permit which,
individually or in the aggregate, if the subject of an unfavorable decision, ruling or finding, would reasonably be expected to have a
Material Adverse Effect, except as described in the Pricing Disclosure Package;

 

		(qq)	Other than the Guarantor, Envestnet Portfolio Solutions, Inc., Envestnet Retirement Solutions, LLC, QRG
Capital Management, Inc., Envestnet Embedded Advisory, Inc. and FDx Advisors, Inc. (collectively, the “RIAs”), each of which
is registered with the Commission as an investment adviser, neither the Company nor any of its subsidiaries (A) is or has been registered
or (B) is required or has been required to be registered or (C) as a result of the transaction contemplated by this Agreement, will be
required to register, as an investment adviser under the Investment Advisers Act of 1940, as amended (the “IAA”), as a commodity
trading advisor, a commodity pool operator or a futures commission merchant under the Commodity Exchange Act of 1936, as amended, as a
broker or a dealer under the Exchange Act or under the Blue Sky or securities laws of any applicable jurisdiction or the rules and regulations
thereunder, except for such registration under the Blue Sky or securities laws of any applicable jurisdiction or the rules and regulations
thereunder the failure of which to have been complied with would not reasonably be expected to have a Material Adverse Effect;

 

		(rr)	Each of the RIAs (A) is duly registered as an investment adviser under the IAA and the rules, regulations
and interpretations of the Commission thereunder and has been duly registered from the time such registration has been required, and such
registration is, and has been from the time such registration was required, effective and in good standing, (B) is duly qualified as an
investment adviser under the securities laws and the rules and regulations thereunder of each jurisdiction in which the conduct of its
business requires such qualification, except to the extent that the failure to be so qualified would not reasonably be expected to have
a Material Adverse Effect; (C) has filed a Form ADV, including without limitation a firm brochure disclosing information required by Form
ADV Part 2A, with the Commission in accordance with the IAA, which Form at the time of filing was, as amended and supplemented as of the
date hereof is in effect pursuant to the requirements of the IAA and the rules, regulations and interpretations of the Commission thereunder
and accurate and complete in all material respects; (D) has prepared and delivered to clients, in compliance with the requirements of
Form ADV, one or more brochure supplements disclosing information required by Form ADV Part 2B, and has amended such brochure supplements,
and delivered such amended brochure supplements to clients from time to time in compliance with the requirements of the IAA and the rules
promulgated thereunder, and all such brochure supplements are accurate and complete as of the date hereof, and were accurate and complete
at the time of delivery to each client, in all material respects; (E) has (x) obtained all other necessary approvals, (y) made all filings,
including reports and other documents and (z) made all disclosures and delivered all documents to be delivered to its clients, as required
by the IAA and the rules, regulations and interpretations of the Commission thereunder and all applicable regulatory authorities to conduct
its business, except for where the failure to do so would not reasonably be expected to have a Material Adverse Effect; (F) has not received
any notification from any applicable regulatory authority to the effect that any additional approvals from such regulatory authority are
needed to be obtained by the RIA in any case where it could be reasonably expected that the RIA would in fact be required either to obtain
any such additional approvals or cease or otherwise limit engaging in certain business, except for such cessations or limitations of business
which would not reasonably be expected to have a Material Adverse Effect; (G) has maintained in all material respects all books and other
records required by the IAA and the rules, regulations and interpretations of the Commission thereunder, and, to the extent applicable,
the Investment Company Act and the rules promulgated thereunder, and each of such reports and other documents at the time created was,
as amended and supplemented as of the date hereof is, and after consummation of the transactions contemplated hereby shall be, accurate
and complete in all material respects; and (H) is in compliance in all material respects with the requirements of the IAA and the rules,
regulations and interpretations of the Commission thereunder and all other applicable investment adviser laws and regulations of each
jurisdiction which are applicable to such RIA, and has filed all notices required to be filed thereunder;

 

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		(ss)	Each investment advisory agreement to which any of the RIAs is a party is, and following the consummation
of the transactions contemplated by the Agreement will be, a valid and legally binding obligation of such RIA and is in compliance with
the applicable provisions of the IAA and the rules, regulations and interpretations of the Commission thereunder, and the applicable RIA
is not, and following the consummation of the transactions contemplated by the Agreement will not be, in breach or violation of or in
default under any such investment advisory agreement, except to the extent that any such noncompliance, breach, violation or default would
not, individually or in the aggregate, have a Material Adverse Effect;

 

		(tt)	Each entity for which any of the RIAs acts as investment adviser and, to the best knowledge of the RIAs,
each entity for which the RIAs acts as subadviser and, in each case, which is required to be registered with the Commission as an investment
company under the Investment Company Act (a “RIC”) is, and at the time of consummation of the transactions contemplated herein
will be, duly registered with the Commission as an investment company under the Investment Company Act and to the best knowledge of the
Company, each RIC has been operated in compliance in all material respects with the Investment Company Act and the rules and regulations
thereunder and to the best knowledge of the Company, there are no facts with respect to any such RIC that are likely to have a Material
Adverse Effect; and, to the best knowledge of the Company, each RIC’s registration statement complies in all material respects with
the provisions of the Securities Act, the Investment Company Act and the rules and regulations thereunder and does not contain any untrue
statement of material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein
not misleading;

 

		(uu)	The Company and its subsidiaries’ information technology assets and equipment, computers, systems,
networks, hardware, software, websites, applications, and databases (collectively, “IT Systems”) are adequate for, and operate
and perform in all material respects as required in connection with the operation of the business of the Company and its subsidiaries
as currently conducted, and are, to the knowledge of the Company, free and clear of all material bugs, errors, defects, Trojan horses,
time bombs, malware and other corruptants. The Company and its subsidiaries have implemented and maintained commercially reasonable controls,
policies, procedures, and safeguards to maintain and protect their material confidential information and the integrity, continuous operation,
redundancy and security of all IT Systems and data (including all personal, personally identifiable, sensitive, confidential or regulated
data (“Personal Data”)) used in connection with their businesses, and there have been no breaches, violations, outages or
unauthorized uses of or accesses to same, except for those that have been remedied without material cost or liability or the duty to notify
any other person, nor, to the knowledge of the Company, any investigations relating to the same. The Company and its subsidiaries are
presently in material compliance with all applicable laws or statutes and all judgments, orders, rules and regulations of any court or
arbitrator or governmental or regulatory authority, internal policies and contractual obligations relating to the privacy and security
of IT Systems and Personal Data and to the protection of such IT Systems and Personal Data from unauthorized use, access, misappropriation
or modification; and

 

		(vv)	Each of the Base Capped Call Confirmations has been, and each Additional Capped Call Confirmation on the
date of its execution will have been, duly authorized, executed and delivered by the Company and, assuming due execution and delivery
thereof by the Option Counterparties, constitutes, or will constitute, as the case may be, a valid and legally binding agreement of the
Company enforceable against the Company in accordance with its terms, except as the enforcement thereof may be limited by bankruptcy,
insolvency (including, without limitation, all laws relating to fraudulent transfers), reorganization, moratorium or similar laws affecting
enforcement of creditors’ rights generally and except as enforcement thereof is subject to general principles of equity (regardless
of whether enforcement is considered in a proceeding in equity or at law).

 

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	2.	(a)	Subject to the terms and conditions herein set
forth, (i) the Company agrees to issue and sell to each of the Purchasers, and each of the Purchasers agrees, severally and not jointly,
to purchase from the Company, at a purchase price of 97.250% of the principal amount thereof plus accrued interest, if any, from November
17, 2022 to the First Time of Delivery, the principal amount of Firm Notes set forth opposite the name of such Purchaser in Schedule
I and (ii) in the event and to the extent that the Purchasers shall exercise the election to purchase Optional Notes as provided in Section
2(b) below, the Company agrees to issue and sell to each of the Purchasers, and each of the Purchasers agrees, severally and not jointly,
to purchase from the Company, at a purchase price of 97.250% of the principal amount thereof plus accrued interest, if any, from November
17, 2022 to the applicable Time of Delivery, that portion of the number of Optional Notes as to which such election shall have been exercised.

 

		(b)	The Company hereby grants to the Purchasers the right to purchase at their election up to $75,000,000
aggregate principal amount of Optional Notes, at the purchase price set forth in Section 2(a)(ii). Any such election to purchase Optional
Notes may be exercised in whole or from time to time in part by written notice from you to the Company setting forth the aggregate principal
amount of Optional Notes to be purchased and the date on which such Optional Notes are to be delivered, as determined by you but in no
event later than the thirteenth day from and including the First Time of Delivery or earlier than the First Time of Delivery or, unless
you and the Company otherwise agree in writing, earlier than two business days after the date of such notice. Optional Notes may be purchased
as provided in this Section 2(b) hereof solely for the purpose of covering overallotments made in connection with the offering of the
Firm Notes.

 

		3.	Upon the authorization by you of the release of the Securities, the several Purchasers propose to offer
the Securities for sale upon the terms and conditions set forth in this Agreement and the Offering Memorandum and each Purchaser, acting
severally and not jointly, hereby represents and warrants to, and agrees with the Company and the Guarantor that:

 

		(a)	It will sell the Securities only to persons who it reasonably believes are “qualified institutional
buyers” (“QIBs”) within the meaning of Rule 144A under the Securities Act in transactions meeting the requirements of
Rule 144A;

 

		(b)	It will not make any general solicitation or general advertising within the meaning of Rule 502(c) under
the Securities Act or solicit offers for, or offer or sell, the Securities in any manner involving a public offering within the meaning
of Section 4(a)(2) of the Securities Act; and

 

		(c)	It is an institutional “accredited Investor” (“Institutional Accredited Investor”)
within the meaning of Rule 501 under the Securities Act.

 

	4.	(a)	The Notes to be purchased by each Purchaser hereunder
will be represented by one or more definitive global Notes in book-entry form which will be deposited by or on behalf of the Company
with The Depository Trust Company (“DTC”) or its designated custodian. The Company will deliver the Notes to Morgan Stanley
& Co. LLC, for the account of each Purchaser, against payment by or on behalf of such Purchaser of the purchase price therefor by
wire transfer in Federal (same day) funds, by causing DTC to credit the Notes to the account of Morgan Stanley & Co. LLC at DTC.
The Company will cause the definitive global Notes to be made available to the Representatives for checking at least twenty-four hours
prior to the Time of Delivery (as defined below) at the office of Sidley Austin LLP, 787 7th Avenue, New York, New York, 10019 (the “Closing
Location”) The time and date of such delivery and payment shall be, with respect to the Firm Notes, 9:30 a.m., New York City time,
on November 17, 2022, or at such other time and date as the Representatives and the Company may agree upon in writing and, with respect
to the Optional Notes, 9:30 a.m., New York City time, on the date specified by you in the written notice given by you of the Purchasers’
election to purchase the Optional Notes, or at such other time and date as the Representatives and the Company may agree upon in writing.
Such time and date of delivery of the Firm Notes is herein called the “First Time of Delivery,” such time and date for delivery
of the Optional Notes, if not the First Time of Delivery, is herein called an “Additional Time of Delivery,” and each such
time and date of delivery is herein called a “Time of Delivery”.

 

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		(b)	The documents to be delivered at each Time of Delivery by or on behalf of the parties hereto pursuant
to Section 8 hereof, including the cross-receipt for the Securities and any additional documents requested by the Purchasers pursuant
to Section 8(l) hereof, will be delivered at such Time of Delivery at the Closing Location, and the Securities will be delivered through
DTC, all at such Time of Delivery. A meeting will be held at the Closing Location at 3:00 p.m., New York City time, on the New York Business
Day next preceding such Time of Delivery, at which meeting the final drafts of the documents to be delivered pursuant to the preceding
sentence will be available for review by the parties hereto. For the purposes of this Section 4, “New York Business Day” shall
mean each Monday, Tuesday, Wednesday, Thursday and Friday which is not a day on which banking institutions in New York are generally authorized
or obligated by law or executive order to close.

 

		5.	The Company and the Guarantor, jointly and severally, agree with each of the Purchasers:

 

		(a)	To prepare the Offering Memorandum in a form approved by you; to make no amendment or any supplement to
the Offering Memorandum to which you reasonably object after reasonable notice thereof; and to furnish you with copies thereof;

 

		(b)	Promptly from time to time to take such action as you may reasonably request to qualify the Securities
for offering and sale under the securities laws of such jurisdictions as you may request and to comply with such laws so as to permit
the continuance of sales and dealings therein in such jurisdictions for as long as may be necessary to complete the distribution of the
Securities, provided that in connection therewith the Company shall not be required to qualify as a foreign corporation or to file a general
consent to service of process in any jurisdiction or subject itself to taxation in any jurisdiction in which it is not otherwise subject
to taxation on the date hereof;

 

		(c)	To furnish the Purchasers with written and electronic copies of the Offering Memorandum and any amendment
or supplement thereto in such quantities as you may from time to time reasonably request, and if, during such period after the date hereof
and prior to the date on which all of the Notes shall have been sold by the Purchasers, any event shall have occurred as a result of which
the Offering Memorandum as then amended or supplemented would include an untrue statement of a material fact or omit to state any material
fact necessary in order to make the statements therein, in the light of the circumstances under which they were made when the Offering
Memorandum is delivered, not misleading, or, if, in the reasonable opinion of counsel for the Purchasers, for any other reason it shall
be necessary during such same period to amend or supplement the Offering Memorandum in order to comply with applicable law, to notify
you and upon your request to prepare and furnish without charge to each Purchaser and to any dealer in securities as many written and
electronic copies as you may from time to time reasonably request of an amended Offering Memorandum or a supplement to the Offering Memorandum
which will correct such statement or omission or effect such compliance;

 

		(d)	During the period commencing on the date hereof and continuing to and including the date 60 days after
the date of the Offering Memorandum, not to (1) offer, issue, pledge, sell, contract to sell, sell any option or contract to purchase,
purchase any option or contract to sell, grant any option, right or warrant to purchase, lend, pledge, hypothecate or otherwise transfer
or dispose of, directly or indirectly, any shares of Stock beneficially owned (as such term is used in Rule 13d-3 under the Exchange Act)
or any other securities so owned convertible into or exercisable or exchangeable for Stock or (2) enter into any swap, hedge or other
arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of the Stock or such other securities,
whether any such transaction described in clause (1) or (2) above is to be settled by delivery of Stock or such other securities, in cash
or otherwise or (3) file or confidentially submit any registration statement with the Commission relating to the offering of any shares
of Stock or any securities convertible into or exercisable or exchangeable for Stock, without the prior written consent of you on behalf
of the Purchasers (other than (a) the grant of options to purchase shares of Stock, restricted shares or restricted stock units pursuant
to the Company’s existing employee benefit plans or the issuance of shares of Stock upon the exercise of any option issued pursuant
to the Company’s employee benefit plans (or the filing of a registration statement on Form S-8 to register shares of Stock issuable
under such plans), (b) the issuance by the Company of shares of Stock upon the exercise of a warrant or the conversion of a security outstanding
on the date hereof, (c) the issuance by the Company of shares of Stock in an amount up to 10% of the Company’s outstanding shares
of Stock in connection with a merger, acquisition or other transaction, provided that any individual or entity receiving shares of Stock
pursuant to this clause (c) shall enter into a written agreement, satisfactory to the Representatives and in all material respects consistent
with the terms of the agreement set forth in Annex III, (d) the issuance by the Company of shares of Stock pursuant to any pre-existing
contractual obligation of the Company identified in the Offering Memorandum and (e) the Company’s entry into or termination of,
and its exercise of rights and performance of obligations under, the Capped Call Confirmations);

 

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		(e)	At any time when the Company is not subject to Section 13 or 15(d) of the Exchange Act, for the benefit
of holders from time to time of Securities, to furnish at its expense, upon request, to holders of Securities and prospective purchasers
of Securities information (the “Additional Issuer Information”) satisfying the requirements of subsection (d)(4)(i) of Rule
144A under the Securities Act;

 

		(f)	During the period of three years after the last Time of Delivery hereunder, to furnish to the holders
of the Securities as soon as practicable after the end of each fiscal year an annual report (including a balance sheet and statements
of income, stockholders' equity and cash flows of the Company and its consolidated subsidiaries certified by independent public accountants)
and, as soon as practicable after the end of each of the first three quarters of each fiscal year (beginning with the fiscal quarter ending
after the date of the Offering Memorandum), to make available to its stockholders consolidated summary financial information of the Company
and its subsidiaries for such quarter in reasonable detail; provided, however, that the Company may satisfy the requirements of
this subsection by making such reports or information available on its website or by electronically filing such information through EDGAR
as long as such posting or filing complies with the Exchange Act;

 

		(g)	During the period of one year after the last Time of Delivery hereunder, the Company will not, and will
not permit any of its “affiliates” (as defined in Rule 144 under the Securities Act) to, resell any of the Securities which
constitute “restricted securities” under Rule 144 that have been reacquired by any of them (other than pursuant to a registration
statement that has been declared effective under the Securities Act);

 

		(h)	To use the net proceeds received by the Company from the sale of the Securities pursuant to this Agreement
in the manner specified in the Preliminary Offering Memorandum and the Offering Memorandum under the caption “Use of Proceeds;”

 

		(i)	To reserve and keep available at all times, free of preemptive rights, shares of Stock for the purpose
of enabling the Company to satisfy any obligations to issue shares of its Stock upon conversion of the Securities; and

 

		(j)	To use its commercially reasonable efforts to list, subject to notice of issuance, the shares of Stock
issuable upon conversion of the Securities on the New York Stock Exchange (the “NYSE”).

 

	6.	(a)	Each of the Company and the Guarantor represents
and agrees that, without the prior consent of the Representatives, it and its affiliates and any other person acting on its or their
behalf (other than the Purchasers, as to which no statement is given) (x) have not made and will not make any offer relating to the Securities
that, if the offering of the Securities contemplated by this Agreement were conducted as a public offering pursuant to a registration
statement filed under the Securities Act with the Commission, would constitute an “issuer free writing prospectus,” as defined
in Rule 433 under the Securities Act (any such offer is hereinafter referred to as a “Company Supplemental Disclosure Document”)
and (y) have not solicited and will not solicit offers for, and have not offered or sold and will not offer or sell, the Securities by
means of any form of general solicitation or general advertising within the meaning of Rule 502(c) of Regulation D or in any manner involving
a public offering within the meaning of Section 4(a)(2) of the Securities Act.

 

		(b)	Each Purchaser, severally and not jointly, represents and agrees that, without the prior consent of the
Company and the Representatives, other than one or more term sheets relating to the Securities containing customary information and conveyed
to purchasers of securities, it has not made and will not make any offer relating to the Securities that, if the offering of the Securities
contemplated by this Agreement were conducted as a public offering pursuant to a registration statement filed under the Securities Act
with the Commission, would constitute a “free writing prospectus,” as defined in Rule 405 under the Securities Act (any such
offer (other than any such term sheets), is hereinafter referred to as a “Purchaser Supplemental Disclosure Document”).

 

		(c)	Any Company Supplemental Disclosure Document or Purchaser Supplemental Disclosure Document, the use of
which has been consented to by the Company and the Representatives, is listed, as applicable, on Schedule II(a) or Schedule II(b) hereto,
respectively.

 

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		7.	The Company and the Guarantor, jointly and severally, covenant and agree with the several Purchasers that
the Company and the Guarantor will pay or cause to be paid the following: (i) the fees, disbursements and expenses of the Company’s
and the Guarantor’s counsel and accountants in connection with the issue of the Securities and the shares of Stock issuable upon
conversion of the Securities and all other expenses in connection with the preparation, printing, reproduction and filing of the Preliminary
Offering Memorandum and the Offering Memorandum and any amendments and supplements thereto and the mailing and delivering of copies thereof
to the Purchasers and dealers; (ii) the cost of printing or producing any Agreement among Purchasers, this Agreement, the Indenture, the
Securities, any Blue Sky memorandum, closing documents (including any compilations thereof) and any other documents in connection with
the offering, purchase, sale and delivery of the Securities; (iii) all expenses in connection with the qualification of the Securities
and the shares of Stock issuable upon conversion of the Securities for offering and sale under state securities laws as provided in Section
5(b) hereof, including the fees (not to exceed $5,000) and disbursements of counsel for the Purchasers in connection with such qualification
and in connection with Blue Sky surveys; (iv) any fees charged by securities rating services for rating the Securities; (v) the cost of
preparing the Securities; (vi) the fees and expenses of the Trustee and any agent of the Trustee and the fees and disbursements of counsel
for the Trustee in connection with the Indenture and the Securities; (vii) all costs and expenses incurred in connection with any “road
show” presentation to potential purchasers of the Securities; and (viii) any cost incurred in connection with the listing of the
shares of Stock issuable upon conversion of the Securities; and all other costs and expenses incident to the performance of its obligations
hereunder which are not otherwise specifically provided for in this Section. It is understood, however, that, except as provided in this
Section, and Sections 9 and 12 hereof, the Purchasers will pay all of their own costs and expenses, including the fees of their counsel,
transfer taxes on resale of any of the Securities by them, and any advertising expenses connected with any offers they may make.

 

		8.	The obligations of the Purchasers hereunder, as to the Notes to be delivered at each Time of Delivery,
shall be subject, in their discretion, to the condition that all representations and warranties and other statements of the Company and
the Guarantor herein are, at and as of such Time of Delivery, true and correct, the condition that the Company and the Guarantor shall
have performed all of their respective obligations hereunder theretofore to be performed, and the following additional conditions:

 

		(a)	Sidley Austin LLP, counsel for the Purchasers, shall have furnished
to you such written opinion or opinions, dated such Time of Delivery, in form and substance satisfactory to you, with respect to the matters
you may reasonably request, and such counsel shall have received such papers and information as they may reasonably request to enable
them to pass upon such matters;

 

		(b)	Mayer Brown LLP, counsel for the Company and the Guarantor, shall have furnished to you their written
opinion, dated such Time of Delivery, in the form attached hereto as Annex I;

 

		(c)	Shelly O’Brien, the Chief Legal Officer and General Counsel of the Company, shall have furnished
to you her written opinion, dated such Time of Delivery, in the form attached hereto as Annex II;

 

		(d)	On the date of the Offering Memorandum concurrently with the execution of this Agreement and also at each
Time of Delivery, KPMG LLP, independent certified public accountants with respect to the Company, shall have furnished to you a letter
or letters with respect to the Company, dated the respective dates of delivery thereof, in form and substance satisfactory to you;

 

		(e)	On the date of the Offering Memorandum concurrently with the execution of this Agreement and also at each
Time of Delivery, the Chief Financial Officer of the Company shall have furnished to you a certificate executed by the Chief Financial
Officer, dated the respective dates of delivery thereof, in form and substance satisfactory to you, covering certain financial and operating
information of the Company included or incorporated by reference in the Pricing Disclosure Package and the Offering Memorandum;

 

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		(f)	(i) Neither the Company nor any of its subsidiaries shall have sustained since the date of the latest
audited financial statements included or incorporated by reference in the Pricing Disclosure Package any loss or interference with its
business from fire, explosion, flood or other calamity, whether or not covered by insurance, or from any labor dispute or court or governmental
action, order or decree, otherwise than as set forth or contemplated in the Pricing Disclosure Package, and (ii) since the respective
dates as of which information is given in the Pricing Disclosure Package there shall not have been any change in the capital stock, short-term
debt or long-term debt of the Company or any of its subsidiaries or any change, or any development involving a prospective change, in
or affecting the general affairs, management, financial position, stockholders’ equity or results of operations of the Company and
its subsidiaries, otherwise than as set forth or contemplated in the Pricing Disclosure Package, the effect of which, in any such case
described in clause (i) or (ii), is in your judgment so material and adverse as to make it impracticable or inadvisable to proceed with
the offering or the delivery of the Securities being issued at such Time of Delivery on the terms and in the manner contemplated in this
Agreement and in each of the Pricing Disclosure Package and the Offering Memorandum;

 

		(g)	On or after the Applicable Time (i) no downgrading shall have occurred in the rating accorded the Company’s
debt securities by any “nationally recognized statistical rating organization”, as that term is defined by the Commission
for purposes of Rule 436(g)(2) under the Securities Act, and (ii) no such organization shall have publicly announced that it has under
surveillance or review, with possible negative implications, its rating of any of the Company’s debt securities;

 

		(h)	On or after the Applicable Time there shall not have occurred any of the following: (i) a suspension or
material limitation in trading in securities generally on the NYSE or NASDAQ; (ii) a suspension or material limitation in trading in the
Company’s securities on the NYSE; (iii) a general moratorium on commercial banking activities declared by either Federal or New
York State authorities or a material disruption in commercial banking or securities settlement or clearance services in the United States;
(iv) the outbreak or escalation of hostilities involving the United States or the declaration by the United States of a national emergency
or war or (v) the occurrence of any other calamity or crisis or any change in financial, political or economic conditions in the United
States or elsewhere, if the effect of any such event specified in clause (iv) or (v) in your judgment makes it impracticable or inadvisable
to proceed with the offering or the delivery of the Securities being issued at such Time of Delivery on the terms and in the manner contemplated
in the Pricing Disclosure Package and the Offering Memorandum;

 

		(i)	The shares of Stock issuable upon conversion of the Securities shall have been approved for listing, subject
to notice of issuance, on the NYSE;

 

		(j)	The Company shall have obtained and delivered to the Purchasers executed copies of a lock-up agreement
from each of the persons listed on Schedule IV hereto, substantially in the form attached hereto as Annex III and such agreements shall
be in full force and effect.

 

		(k)	The Purchasers shall have received an executed copy of the Indenture;

 

		(l)	The Securities shall be eligible for clearance and settlement through the facilities of DTC; and

 

		(m)	The Company and the Guarantor shall have furnished or caused to be furnished to you at such Time of Delivery
certificates of officers of the Company and the Guarantor reasonably satisfactory to you as to the accuracy of the representations and
warranties of the Company and the Guarantor herein at and as of such Time of Delivery, as to the performance by the Company and the Guarantor
of all of their respective obligations hereunder to be performed at or prior to such Time of Delivery and as to such other matters as
you may reasonably request, and the Company shall have furnished or caused to be furnished certificates as to the matters set forth in
subsection (f)(i) of this Section 8 and as to the absence, since the respective dates as of which information is given in the Pricing
Disclosure Package, of any material adverse change in the capital stock, short-term debt or long-term debt of the Company or any of its
subsidiaries or any material adverse change, or any development involving a prospective material adverse change, in or affecting the general
affairs, management, financial position, stockholders’ equity or results of operations of the Company and its subsidiaries, otherwise
than as set forth or contemplated in the Pricing Disclosure Package.

 

    16

     

    

 

	9.	(a)	The Company and the Guarantor, jointly and severally,
will indemnify and hold harmless each Purchaser against any losses, claims, damages or liabilities, joint or several, to which such Purchaser
may become subject, under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect
thereof) arise out of or are based upon an untrue statement or alleged untrue statement of a material fact contained in the Preliminary
Offering Memorandum, the Pricing Disclosure Package, the Offering Memorandum, or any amendment or supplement thereto, or any Company
Supplemental Disclosure Document or arise out of or are based upon the omission or alleged omission to state therein a material fact
necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, and will reimburse
each Purchaser for any legal or other expenses reasonably incurred by such Purchaser in connection with investigating or defending any
such action or claim as such expenses are incurred; provided, however, that the Company and the Guarantor shall not be
liable in any such case to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement
or alleged untrue statement or omission or alleged omission made in the Preliminary Offering Memorandum, the Pricing Disclosure Package,
the Offering Memorandum or any such amendment or supplement or any Company Supplemental Disclosure Document, in reliance upon and in
conformity with written information furnished to the Company by any Purchaser through the Representatives expressly for use therein,
it being understood that the only information furnished to the Company for such use is the information contained in the first, second,
fifth, six, seventh and eighth sentence of the eighth paragraph and in the second sentence of the ninth paragraph under the caption “Plan
of Distribution” in the Preliminary Offering Memorandum and the Offering Memorandum (the “Purchasers’ Information”).

 

		(b)	Each Purchaser, severally and not jointly, will indemnify and hold harmless the Company and the Guarantor
against any losses, claims, damages or liabilities to which the Company and the Guarantor may become subject, under the Securities Act
or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon an
untrue statement or alleged untrue statement of a material fact contained in the Preliminary Offering Memorandum, the Pricing Disclosure
Package, the Offering Memorandum, or any amendment or supplement thereto, or any Company Supplemental Disclosure Document or arise out
of or are based upon the omission or alleged omission to state therein a material fact or necessary to make the statements therein, in
the light of the circumstances under which they were made, not misleading, in each case to the extent, but only to the extent, that such
untrue statement or alleged untrue statement or omission or alleged omission was made in the Preliminary Offering Memorandum, the Pricing
Disclosure Package, the Offering Memorandum or any such amendment or supplement, or any Company Supplemental Disclosure Document, in reliance
upon and in conformity with the Purchasers’ Information; and each Purchaser will reimburse the Company and the Guarantor for any
legal or other expenses reasonably incurred by the Company and the Guarantor in connection with investigating or defending any such action
or claim as such expenses are incurred.

 

		(c)	Promptly after receipt by an indemnified party under subsection (a) or (b) above of notice of the commencement
of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party under such subsection,
notify the indemnifying party in writing of the commencement thereof; but the omission so to notify the indemnifying party shall not relieve
it from any liability which it may have to any indemnified party otherwise than under such subsection. In case any such action shall be
brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall
be entitled to participate therein and, to the extent that it shall wish, jointly with any other indemnifying party similarly notified,
to assume the defense thereof, with counsel reasonably satisfactory to such indemnified party (who shall not, except with the consent
of the indemnified party, be counsel to the indemnifying party), and, after notice from the indemnifying party to such indemnified party
of its election so to assume the defense thereof, the indemnifying party shall not be liable to such indemnified party under such subsection
for any legal expenses of other counsel or any other expenses, in each case, subsequently incurred by such indemnified party in connection
with the defense thereof, other than reasonable costs of investigation. No indemnifying party shall, without the written consent of the
indemnified party, effect the settlement or compromise of, or consent to the entry of any judgment with respect to, any pending or threatened
action or claim in respect of which indemnification or contribution may be sought hereunder (whether or not the indemnified party is an
actual or potential party to such action or claim) unless such settlement, compromise or judgment (i) includes an unconditional release
of the indemnified party from all liability arising out of such action or claim and (ii) does not include a statement as to, or an admission
of, fault, culpability or a failure to act, by or on behalf of any indemnified party.

 

    17

     

    

 

		(d)	If the indemnification provided for in this Section 9 is unavailable to or insufficient to hold harmless
an indemnified party under subsection (a) or (b) above in respect of any losses, claims, damages or liabilities (or actions in respect
thereof) referred to therein, then each indemnifying party shall contribute to the amount paid or payable by such indemnified party as
a result of such losses, claims, damages or liabilities (or actions in respect thereof) in such proportion as is appropriate to reflect
the relative benefits received by the Company and the Guarantor on the one hand and the Purchasers on the other from the offering of the
Securities. If, however, the allocation provided by the immediately preceding sentence is not permitted by applicable law or if the indemnified
party failed to give the notice required under subsection (c) above, then each indemnifying party shall contribute to such amount paid
or payable by such indemnified party in such proportion as is appropriate to reflect not only such relative benefits but also the relative
fault of the Company and the Guarantor on the one hand and the Purchasers on the other in connection with the statements or omissions
which resulted in such losses, claims, damages or liabilities (or actions in respect thereof), as well as any other relevant equitable
considerations. The relative benefits received by the Company and the Guarantor on the one hand and the Purchasers on the other shall
be deemed to be in the same proportion as the total net proceeds from the offering (before deducting expenses) received by the Company
bear to the total discounts and commissions received by the Purchasers, as provided in this Agreement. The relative fault shall be determined
by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission
to state a material fact relates to information supplied by the Company and the Guarantor on the one hand or the Purchasers on the other
and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission.
The Company, the Guarantor and the Purchasers agree that it would not be just and equitable if contribution pursuant to this subsection
(d) were determined by pro rata allocation (even if the Purchasers were treated as one entity for such purpose) or by any other method
of allocation which does not take account of the equitable considerations referred to above in this subsection (d). The amount paid or
payable by an indemnified party as a result of the losses, claims, damages or liabilities (or actions in respect thereof) referred to
above in this subsection (d) shall be deemed to include any legal or other expenses reasonably incurred by such indemnified party in connection
with investigating or defending any such action or claim. Notwithstanding the provisions of this subsection (d), no Purchaser shall be
required to contribute any amount in excess of the amount by which the total price at which the Securities purchased by it and distributed
to investors were offered to investors exceeds the amount of any damages which such Purchaser has otherwise been required to pay by reason
of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the
meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent
misrepresentation. The Purchasers’ obligations in this subsection (d) to contribute are several in proportion to their respective
purchase obligations and not joint.

 

		(e)	The obligations of the Company and the Guarantor under this Section 9 shall be in addition to any liability
which the Company and the Guarantor may otherwise have and shall extend, upon the same terms and conditions, to each employee, officer
and director of each Purchaser, any affiliate of each Purchaser, each employee, officer, director, partner and member of such affiliate
and each person, if any, who controls any Purchaser or such affiliate within the meaning of the Securities Act; and the obligations of
the Purchasers under this Section 9 shall be in addition to any liability which the respective Purchasers may otherwise have and shall
extend, upon the same terms and conditions, to each officer and director of the Company and the Guarantor and to each person, if any,
who controls the Company and the Guarantor within the meaning of the Securities Act.

 

	10.	(a)	If any Purchaser shall default in its obligation
to purchase the Notes which it has agreed to purchase hereunder at a Time of Delivery, you may in your discretion arrange for you or
another party or other parties to purchase such Notes on the terms contained herein. If within thirty-six hours after such default by
any Purchaser you do not arrange for the purchase of such Notes, then the Company shall be entitled to a further period of thirty-six
hours within which to procure another party or other parties satisfactory to you to purchase such Notes on such terms. In the event that,
within the respective prescribed periods, you notify the Company that you have so arranged for the purchase of such Notes, or the Company
notifies you that it has so arranged for the purchase of such Notes, you or the Company shall have the right to postpone such Time of
Delivery for a period of not more than seven days, in order to effect whatever changes may thereby be made necessary in the Offering
Memorandum, or in any other documents or arrangements, and the Company agrees to prepare promptly any amendments or supplements to the
Offering Memorandum which in your opinion may thereby be made necessary. The term “Purchaser” as used in this Agreement shall
include any person substituted under this Section with like effect as if such person had originally been a party to this Agreement with
respect to such Notes.

 

    18

     

    

 

		(b)	If, after giving effect to any arrangements for the purchase of the Notes of a defaulting Purchaser or
Purchasers by you and the Company as provided in subsection (a) above, the aggregate principal amount of such Notes which remains unpurchased
does not exceed one-eleventh of the aggregate principal amount of all the Notes to be purchased at such Time of Delivery, then the Company
shall have the right to require each non-defaulting Purchaser to purchase the aggregate principal amount of Notes which such Purchaser
agreed to purchase hereunder at such Time of Delivery and, in addition, to require each non-defaulting Purchaser to purchase its pro rata
share (based on the aggregate principal amount of Notes which such Purchaser agreed to purchase hereunder) of the Notes of such defaulting
Purchaser or Purchasers for which such arrangements have not been made; but nothing herein shall relieve a defaulting Purchaser from liability
for its default.

 

		(c)	If, after giving effect to any arrangements for the purchase of the Notes of a defaulting Purchaser or
Purchasers by you and the Company as provided in subsection (a) above, the aggregate principal amount of such Notes which remains unpurchased
exceeds one-eleventh of the aggregate principal amount of all the Notes to be purchased at such Time of Delivery, or if the Company shall
not exercise the right described in subsection (b) above to require non-defaulting Purchasers to purchase Notes of a defaulting Purchaser
or Purchasers, then this Agreement (or, with respect to an Additional Time of Delivery, the obligations of the Purchasers to purchase
and of the Company to sell the Optional Notes) shall thereupon terminate, without liability on the part of any non-defaulting Purchaser
or the Company, except for the expenses to be borne by the Company and the Purchasers as provided in Section 7 hereof and the indemnity
and contribution agreements in Section 9 hereof; but nothing herein shall relieve a defaulting Purchaser from liability for its default.

 

		11.	The respective indemnities, agreements, representations, warranties and other statements of the Company,
the Guarantor and the several Purchasers, as set forth in this Agreement or made by or on behalf of them, respectively, pursuant to this
Agreement, shall remain in full force and effect, regardless of any investigation (or any statement as to the results thereof) made by
or on behalf of any Purchaser or any controlling person of any Purchaser, or the Company, the Guarantor or any officer or director or
controlling person of the Company and the Guarantor, and shall survive delivery of and payment for the Notes.

 

		12.	If this Agreement shall be terminated pursuant to Section 10 hereof, the Company and the Guarantor shall
not then be under any liability to any Purchaser except as provided in Sections 7 and 9 hereof; but, if for any other reason (other than
the failure of the condition set forth in Section 8(h)(i), (iii), (iv) or (v)), any Notes are not delivered by or on behalf of the Company
as provided herein, the Company and the Guarantor will reimburse the Purchasers through you for all out-of-pocket expenses approved in
writing by you, including fees and disbursements of counsel, reasonably incurred by the Purchasers in making preparations for the purchase,
sale and delivery of the Notes, but the Company and the Guarantor shall then be under no further liability to any Purchaser except as
provided in Sections 7 and 9 hereof.

 

		13.	In all dealings hereunder, you shall act on behalf of each of the Purchasers, and the parties hereto shall
be entitled to act and rely upon any statement, request, notice or agreement on behalf of any Purchaser made or given by you jointly,
and any action under this Agreement taken by the Representatives jointly will be binding upon all the Purchasers.

 

All statements, requests, notices and
agreements hereunder shall be in writing, and if to the Purchasers shall be delivered or sent by mail or facsimile transmission to you
as the Representatives in care of: Morgan Stanley & Co. LLC, 1585 Broadway, New York, New York 10036, Attention Convertible Debt Syndicate
Desk, with a copy to the Legal Department; BofA Securities, Inc., One Bryant Park, New York, New York 10036, Attention: Syndicate Department
(fax: (646) 855-3073), with a copy to ECM Legal (fax: (212) 230-8730); BMO Capital Markets Corp., Attention: Equity Syndicate Department,
151 W. 42nd Street, 32nd Floor, New York, NY 10036, by email at bmoprospectus@bmo.com, or by phone at (800) 414-3627; and J.P. Morgan
Securities LLC, 383 Madison Avenue, New York, New York 10179, Attention: Equity Syndicate Desk, Telecopy No. 212-622-8358; and if to the
Company shall be delivered or sent by mail or facsimile transmission to Envestnet, Inc., 35 East Wacker Drive, Suite 2400, Chicago, Illinois
60601, Attention: Secretary, facsimile: (312) 827-2801; and if to any officer or director of the Company that has delivered a lock-up
agreement described in Section 8(j) hereof, shall be delivered or sent by mail to his or her address provided in Schedule IV hereto or
such other address as such officer or director provides in writing to the Company. Any such statements, requests, notices or agreements
shall take effect upon receipt thereof.

 

In accordance with the requirements
of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)), the Purchasers are required to obtain, verify
and record information that identifies their respective clients, including the Company and the Guarantor, which information may include
the name and address of their respective clients, as well as other information that will allow the Purchasers to properly identify their
respective clients.

 

    19

     

    

 

		14.	This Agreement shall be binding upon, and inure solely to the benefit of, the Purchasers, the Company,
the Guarantor and, to the extent provided in Sections 9 and 11 hereof, the officers and directors of the Company, the officers and directors
of the Guarantor, the employees, officers and directors of each Purchaser, any affiliate of each Purchaser, each employee, officer, director,
partner and member of such affiliate and each person who controls the Company, the Guarantor, any Purchaser or such affiliate, and their
respective heirs, executors, administrators, successors and assigns, and no other person shall acquire or have any right under or by virtue
of this Agreement. No purchaser of any of the Securities from any Purchaser shall be deemed a successor or assign by reason merely of
such purchase.

 

		15.	Time shall be of the essence of this Agreement.

 

		16.	The Company and the Guarantor acknowledge and agree that (i) the purchase and sale of the Notes pursuant
to this Agreement is an arm’s-length commercial transaction between the Company and the Guarantor, on the one hand, and the several
Purchasers, on the other, (ii) in connection therewith and with the process leading to such transaction each Purchaser is acting solely
as a principal and not the agent or fiduciary of the Company or the Guarantor, (iii) no Purchaser has assumed an advisory or fiduciary
responsibility in favor of the Company or the Guarantor with respect to the offering contemplated hereby or the process leading thereto
(irrespective of whether such Purchaser has advised or is currently advising the Company or the Guarantor on other matters) or any other
obligation to the Company or the Guarantor except the obligations expressly set forth in this Agreement and (iv) the Company and the Guarantor
have consulted their own legal and financial advisors to the extent it deemed appropriate. The Company and the Guarantor agrees that it
will not claim that the Purchaser, or any of them, has rendered advisory services of any nature or respect, or owes a fiduciary or similar
duty to the Company or the Guarantor, in connection with such transaction or the process leading thereto.

 

		17.	The Company and the Guarantor acknowledge that the Purchasers’ research analysts and research departments
are required to be independent from their respective investment banking divisions and are subject to certain regulations and internal
policies, and that such Purchasers’ research analysts may hold views and make statements or investment recommendations and/or publish
research reports with respect to the Company, Guarantor and/or the offering that differ from the views of their respective investment
banking divisions. The Company and the Guarantor hereby waive and release, to the fullest extent permitted by law, any claims that the
Company or the Guarantor may have against the Purchasers with respect to any conflict of interest that may arise from the fact that the
views expressed by their independent research analysts and research departments may be different from or inconsistent with the views or
advice communicated to the Company and the Guarantor by such Purchasers’ investment banking divisions. The Company and the Guarantor
acknowledge that each of the Purchasers is a full service securities firm and as such from time to time, subject to applicable securities
laws, may effect transactions for its own account or the account of its customers and hold long or short positions in debt or equity securities
of the companies that may be the subject of the transactions contemplated by this Agreement.

 

		18.	This Agreement supersedes all prior agreements and understandings (whether written or oral) among the
Company, the Guarantor and the Purchasers, or any of them, with respect to the subject matter hereof.

 

		19.	THIS AGREEMENT AND ANY MATTERS RELATED TO THIS TRANSACTION SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE
WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO PRINCIPLES OF CONFLICT OF LAWS THAT WOULD RESULT IN THE APPLICATION OF ANY LAW
OTHER THAN THE LAWS OF THE STATE OF NEW YORK. The Company and the Guarantor agree that any suit or proceeding arising in respect of this
Agreement or your engagement will be tried exclusively in the U.S. District Court for the Southern District of New York or, if that court
does not have subject matter jurisdiction, in any state court located in The City and County of New York and the Company agrees to
submit to the jurisdiction of, and to venue in, such courts.

 

		20.	The Company, the Guarantor and each of the Purchasers 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 Agreement or
the transactions contemplated hereby.

 

    20

     

    

 

		21.	This Agreement may be executed by any one or more of the parties hereto in any number of counterparts,
each of which shall be deemed to be an original, but all such respective counterparts shall together constitute one and the same instrument.
Counterparts may be delivered via facsimile, electronic mail (including any electronic signature covered by the U.S. federal ESIGN Act
of 2000, Uniform Electronic Transactions Act, the Electronic Signatures and Records Act or other applicable law, e.g., www.docusign.com)
or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and
effective for all purposes.

 

		22.	Notwithstanding anything herein to the contrary, the Company and the Guarantor (and the Company’s
and the Guarantor’s employees, representatives, and other agents) are authorized to disclose to any and all persons, the tax treatment
and tax structure of the potential transaction and all materials of any kind (including tax opinions and other tax analyses) provided
to the Company or the Guarantor relating to that treatment and structure, without the Purchasers’ imposing any limitation of any
kind. However, any information relating to the tax treatment and tax structure shall remain confidential (and the foregoing sentence shall
not apply) to the extent necessary to enable any person to comply with securities laws. For this purpose, “tax treatment”
means US federal and state income tax treatment, and “tax structure” is limited to any facts that may be relevant to that
treatment.

 

		23.	If any term or other provision of this Agreement shall be held invalid, illegal or unenforceable, the
validity, legality or enforceability of the other provisions of this Agreement shall not be affected thereby, and there shall be deemed
substituted for the provision at issue a valid, legal and enforceable provision as similar as possible to the provision at issue.

 

		24.	In the event that any Purchaser that is a Covered Entity becomes
subject to a proceeding under a U.S. Special Resolution Regime, the transfer from such Purchaser of this Agreement, and any interest and
obligation in or under this Agreement, will be effective to the same extent as the transfer would be effective under the U.S. Special
Resolution Regime if this Agreement, and any such interest and obligation, were governed by the laws of the United States or a state of
the United States.

 

In
the event that any Purchaser that is a Covered Entity or a BHC Act Affiliate of such Purchaser becomes subject to a proceeding under a
U.S. Special Resolution Regime, Default Rights under this Agreement that may be exercised against such Purchaser are permitted to be exercised
to no greater extent than such Default Rights could be exercised under the U.S. Special Resolution Regime if this Agreement were governed
by the laws of the United States or a state of the United States.

 

For
purposes of foregoing two paragraphs, “BHC Act Affiliate” has the meaning assigned to the term “affiliate”
in, and shall be interpreted in accordance with, 12 U.S.C. § 1841(k); “Covered Entity” means any of the following:
(i) a “covered entity” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 252.82(b), (ii) a
“covered bank” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 47.3(b) or (iii) a “covered
FSI” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 382.2(b); “Default Right”
has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as
applicable; and “U.S. Special Resolution Regime” means each of (i) the Federal Deposit Insurance Act and the regulations
promulgated thereunder and (ii) Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act and the regulations promulgated
thereunder.

 

		25.	Except as otherwise expressly provided herein, the provisions of this Agreement may be amended or waived
at any time only by the written agreement of the parties hereto. Any waiver, permit, consent or approval of any kind or character on the
part of any such holders of any provision or condition of this Agreement must be made in writing and shall be effective only to the extent
specifically set forth in writing. The failure of any party hereto to enforce at any time any provision of this Agreement shall not be
construed to be a waiver of such provision, nor in any way to affect the validity of this Agreement or any part hereof or the right of
any party thereafter to enforce each and every such provision. No waiver of any breach of this Agreement shall be held to constitute a
waiver of any other or subsequent breach.

 

If the foregoing is in accordance with your understanding,
please sign and return to us counterparts hereof, and upon the acceptance hereof by you, on behalf of each of the Purchasers, this letter
and such acceptance hereof shall constitute a binding agreement among each of the Purchasers, the Company and the Guarantor. It is understood
that your acceptance of this letter on behalf of each of the Purchasers is pursuant to the authority set forth in a form of Agreement
among Purchasers, the form of which shall be submitted to the Company for examination upon request, but without warranty on your part
as to the authority of the signers thereof.

 

    21

     

    

 

	 	Very truly yours,
	 	 
	 	Envestnet, Inc.
	 	 	 
	 	By:	/s/ William C. Crager 
	 	 	Name:	William C. Crager
	 	 	Title: Chief Executive Officer
	 	 	 
	 	Envestnet Asset Management, Inc.
	 	 	 
	 	By:	/s/ William C. Crager
	 	 	Name: 	 William C. Crager
	 	 	Title: Chief Executive Officer

 

    22

     

    

 

Accepted as of the date hereof:

 

	Morgan Stanley & Co. LLC	 
	 	 	 
	By:	/s/ Aditya Bhatia	 
	 	Name:	 Aditya Bhatia	 
	 	Title:	Vice President	 
	 	 	 
	BOFA Securities, Inc.	 
	 	 	 
	By:	/s/ Abbe Galvez Cordon	 
	 	Name:	Abbe Galvez Cordon	 
	 	Title:	Managing Director	 
	 	 	 
	BMO capital markets corp.	 
	 	 	 
	By:	/s/ Brian Riley	 
	 	Name: 	 Brian Riley	 
	 	Title:	 Managing Director, Global Markets	 
	 	 	 
	j.p. morgan securities llc	 
	 	 	 
	By:	/s/ Jim Izawa	 
	 	Name:	Jim Izawa	 
	 	Title:	Executive Director	 

 

For themselves and on behalf of each of the other
Purchasers.

 

    23

     

    

 

SCHEDULE I

 

	 	 	Principal Amount of	 	 	Principal 
 Amount of
 Optional
 Securities
 to be	 
	 	 	Firm
 Securities	 	 	Purchased
 if Maximum	 
	 	 	to be	 	 	Option	 
	Purchaser	 	Purchased	 	 	    Exercised	 
	Morgan Stanley & Co. LLC	 	$	155,000,000	 	 	$	23,250,000	 
	BofA Securities, Inc. 	 	 	91,666,000	 	 	 	13,750,000	 
	BMO Capital Markets Corp.	 	 	91,666,000	 	 	 	13,750,000	 
	J.P. Morgan Securities LLC	 	 	91,666,000	 	 	 	13,750,000	 
	JMP Securities LLC	 	 	11,667,000	 	 	 	1,750,000	 
	UBS Securities LLC	 	 	11,667,000	 	 	 	1,750,000	 
	Fifth Third Securities, Inc.	 	 	11,667,000	 	 	 	1,750,000	 
	Moelis & Company LLC 	 	 	11,667,000	 	 	 	1,750,000	 
	MUFG Securities Americas Inc.	 	 	11,667,000	 	 	 	1,750,000	 
	Piper Sandler & Co.	 	 	11,667,000	 	 	 	1,750,000	 
	Total	 	$	500,000,000	 	 	$	75,000,000	 

 

    Schedule I-1

     

    

 

SCHEDULE II

 

		(a)	Company Supplemental Disclosure Documents:

 

The Ecosystem For Financial
Wellness

Investor Presentation

November 14, 2022

 

		(b)	Purchaser Supplemental Disclosure Documents: None

 

    Schedule II-1

     

    

 

SCHEDULE
III

 

	PRICING TERM SHEET	STRICTLY CONFIDENTIAL
	Dated November 14, 2022	 

 

Envestnet, Inc.

 

2.625% Convertible Notes due 2027

 

The information in this pricing term sheet
relates to the offering (the “Offering”) by Envestnet, Inc. (the “Issuer”) of its 2.625% Convertible Notes due
2027 (the “Notes”) and should be read together with the preliminary offering memorandum dated November 14, 2022 (including
the documents incorporated by reference therein) relating to the Offering (the “Preliminary Offering Memorandum”). The information
in this pricing term sheet supplements the Preliminary Offering Memorandum and supersedes the information in the Preliminary Offering
Memorandum to the extent that it is inconsistent therewith. Terms used but not defined herein have the meanings ascribed to them in the
Preliminary Offering Memorandum.

 

The Notes and the shares of common stock issuable
upon conversion of the Notes, if any, have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities
Act”), or any other securities laws, and may not be offered or sold within the United States or any other jurisdiction, except pursuant
to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and any other applicable
securities laws. Accordingly, the Notes are being offered only to persons reasonably believed to be “qualified institutional buyers”
(as defined in Rule 144A under the Securities Act).

 

	Issuer:	Envestnet,
    Inc. (NYSE: ENV)
	 	 
	Guarantor:	Envestnet Asset Management,
    Inc. 
	 	 
	Securities Offered:	2.625% Convertible Notes
    due 2027
	 	 
	Offering Size:	$500,000,000 aggregate
    principal amount (or $575,000,000 aggregate principal amount if the initial purchasers exercise their option to purchase additional
    Notes solely to cover over-allotments in full)
	 	 
	Offering Price:	100% of the principal amount,
    plus accrued interest, if any, from the Settlement Date
	 	 
	Use of Proceeds:	The
    Issuer estimates that the net proceeds from the sale of the Notes, after deducting the initial purchasers’ discounts and offering
    expenses, will be approximately $485.5 million or approximately $558.4 million assuming the initial purchasers exercise their option
    to purchase additional Notes in full. 
	 	 
	 	The
    Issuer intends to use a portion of the net proceeds from the sale of the Notes, together with cash on hand, to repurchase $300.0
    million in aggregate principal amount of its 1.75% convertible notes due 2023 for an aggregate of approximately $312.4 million plus
    accrued interest in cash and $200.0 million in aggregate principal amount of its 0.75% convertible notes due 2025 for an aggregate
    of approximately $181.8 million plus accrued interest in cash (collectively, the “convertible notes”) pursuant to separate
    and individually negotiated transactions with certain holders of the convertible notes. 

 

    Schedule III-1

     

    

 

	 	The
    Issuer has entered into capped call transactions with one or more of the initial purchasers or affiliates thereof and other financial
    institutions (collectively, the “option counterparties”). The Issuer expects to use approximately $69.1 million of the
    net proceeds from the sale of the Notes to pay the cost of the capped call transactions. 
	 	 
	 	If
    the initial purchasers exercise their option to purchase additional Notes, the Issuer may use a portion of the net proceeds from
    the sale of such additional Notes to enter into additional capped call transactions with the option counterparties, and the remaining
    net proceeds as described above.
	 	 
	 	The
    Issuer intends to use the remaining net proceeds, if any, for general corporate purposes, which may include selective strategic investments
    through acquisitions, alliances or other transactions. 
	 	 
	 	Pending
    application of the net proceeds as described above, the Issuer may invest the net proceeds in marketable securities or other investments.
    See “Use of Proceeds” in the Preliminary
    Offering Memorandum.
	 	 
	Trade Date:	November 15, 2022
	 	 
	Settlement Date:	November 17, 2022
	 	 
	Maturity:	December 1, 2027, unless
    earlier purchased, redeemed or converted
	 	 
	Interest Rate:	2.625% per year payable
    semi-annually in arrears in cash
	 	 
	Interest Payment Dates:	June 1 and December 1 of
    each year, beginning June 1, 2023 (long first interest period)
	 	 
	Optional Redemption:	The Issuer may not redeem
    the Notes prior to December 5, 2025. The Issuer may redeem for cash all or any portion of the Notes, at its option, on or after December
    5, 2025 if the last reported sale price of its common stock (the “Common Stock”) has been at least 130% of the conversion
    price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including
    the last trading day of such period) ending on, and including, any of the five trading days immediately preceding the date on which
    the Issuer provides notice of redemption, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed,
    plus accrued and unpaid interest thereon, if any, to, but excluding, the redemption date. No sinking fund is provided for the Notes,
    which means that the Issuer is not required to redeem or retire the Notes periodically.
	 	 
	Fundamental Change:	If the Issuer undergoes
    a “fundamental change” (as defined in the Preliminary Offering Memorandum under the heading ‘‘Description
    of the Notes—Fundamental Change Permits Holders to Require Us to Purchase Notes’’) prior to maturity, subject to
    certain conditions, holders may require the Issuer to purchase all or any portion of their Notes in principal amounts of $1,000 or
    a multiple thereof. The fundamental change purchase price will be equal to 100% of the principal amount of the Notes to be purchased,
    plus any accrued and unpaid interest to, but excluding, the fundamental change purchase date. The Issuer will pay the fundamental
    change purchase price in cash. See “Description of the Notes—Fundamental Change Permits Holders to Require Us to Purchase
    Notes” in the Preliminary Offering Memorandum.

 

    Schedule III-2

     

    

 

	NYSE Last Reported
    Sale 

Price on November 14,
    2022:	$55.37 per share of the
    Common Stock
	 	 
	Initial Conversion Rate:	13.6304 shares of Common
    Stock per $1,000 principal amount of Notes
	 	 
	Initial Conversion Price:	Approximately $73.37 per
    share of Common Stock
	 	 
	Conversion Premium:	Approximately 32.5% above
    the NYSE Last Reported Sale Price on November 14, 2022
	 	 
	Adjustment to Conversion
    Rate 

upon Conversion in Connection

 with a Make-whole Fundamental 

Change or an Optional Redemption:	The following table sets
    forth the number of additional shares (as defined under “Description of the Notes—Adjustment to the Conversion Rate Upon
    Conversion in Connection with a Make-whole Fundamental Change or an Optional Redemption” in the Preliminary Offering Memorandum)
    to be received per $1,000 principal amount of Notes for each stock price and effective date or redemption notice date set forth below:

 

	 	 	Stock Price	 
	Effective Date/ Redemption Notice Date	 	$55.37	 	 	$65.00	 	 	$73.37	 	 	$85.00	 	 	$95.38	 	 	$125.00	 	 	$175.00	 	 	$250.00	 	 	$400.00	 	 	$600.00	 	 	$800.00	 	 	$1,000.00	 
	November 17, 2022	 	 	4.4299	 	 	 	3.2555	 	 	 	2.5699	 	 	 	1.9273	 	 	 	1.5423	 	 	 	0.9322	 	 	 	0.5231	 	 	 	0.2906	 	 	 	0.1205	 	 	 	0.0388	 	 	 	0.0084	 	 	 	0.0000	 
	December 1, 2023	 	 	4.4299	 	 	 	3.1777	 	 	 	2.4405	 	 	 	1.7682	 	 	 	1.3787	 	 	 	0.7942	 	 	 	0.4351	 	 	 	0.2429	 	 	 	0.1021	 	 	 	0.0326	 	 	 	0.0065	 	 	 	0.0000	 
	December 1, 2024	 	 	4.4299	 	 	 	3.0255	 	 	 	2.2324	 	 	 	1.5362	 	 	 	1.1524	 	 	 	0.6210	 	 	 	0.3335	 	 	 	0.1890	 	 	 	0.0807	 	 	 	0.0254	 	 	 	0.0043	 	 	 	0.0000	 
	December 1, 2025	 	 	4.4299	 	 	 	2.7538	 	 	 	1.9000	 	 	 	1.1966	 	 	 	0.8410	 	 	 	0.4133	 	 	 	0.2226	 	 	 	0.1297	 	 	 	0.0561	 	 	 	0.0172	 	 	 	0.0020	 	 	 	0.0000	 
	December 1, 2026	 	 	4.4299	 	 	 	2.3446	 	 	 	1.3943	 	 	 	0.7141	 	 	 	0.4367	 	 	 	0.1928	 	 	 	0.1112	 	 	 	0.0670	 	 	 	0.0293	 	 	 	0.0087	 	 	 	0.0004	 	 	 	0.0000	 
	December 1, 2027	 	 	4.4299	 	 	 	1.7542	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 

 

	 	The
    exact stock prices and effective dates or redemption notice dates may not be set forth in the table above, in which case:

 

		●	If
the stock price is between two stock prices in the table or the effective date or redemption notice date is between two dates in the
table, the number of additional shares will 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.

 

		●	If
the stock price is greater than $1,000.00 per share (subject to adjustment in the same manner as the stock prices set forth in the column
headings of the table above), no additional shares will be added to the conversion rate.

 

		●	If
the stock price is less than $55.37 per share (subject to adjustment in the same manner as the stock prices set forth in the column headings
of the table above), no additional shares will be added to the conversion rate.

 

    Schedule III-3

     

    

 

	 	Notwithstanding
    the foregoing, in no event will the conversion rate exceed 18.0603
    shares per $1,000 principal amount of Notes, subject to adjustment in the same manner as the
    conversion rate as set forth under “Description of the Notes—Conversion Rate Adjustments” in the Preliminary
    Offering Memorandum.
	 	 
	CUSIP/ISIN:	29404K AF3 / US29404KAF30
	 	 
	Joint Book-Running Managers:	Morgan
    Stanley & Co. LLC
	 	BofA
    Securities, Inc.
	 	BMO
    Capital Markets Corp.
	 	J.P.
    Morgan Securities LLC
	 	JMP Securities LLC
	 	UBS
    Securities LLC
	 	 
	Co-Managers:	Fifth Third Securities,
    Inc.
	 	Moelis & Company LLC
	 	MUFG Securities Americas
    Inc.
	 	Piper Sandler & Co.

 

Modification
to Conversion Period and Related Terms

 

The
“conversion period” for the Notes during which settlement amounts due upon conversion may be determined will be 60 consecutive
trading days instead of 50 consecutive trading days as described in the Preliminary Offering Memorandum. Accordingly, the following changes
to the definition of the term “conversion period” and related changes to the terms of the Notes described under “Description
of the Notes” in the Preliminary Offering Memorandum in order to effect this modification are described below. Defined terms used
below shall have the respective meanings set forth in the Preliminary Offering Memorandum.

 

Settlement
amounts will be computed as follows:

 

		●	if
                                            we elect to satisfy our conversion obligation through stock settlement, we will deliver to
                                            the converting holder in respect of each $1,000 principal amount of notes being converted
                                            a number of shares of our common stock equal to the conversion rate in effect on the conversion
                                            date (together with cash in lieu of fractional shares);

 

		●	if
                                            we elect to satisfy our conversion obligation through cash settlement, we will 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 (as defined below) for each
                                            of the 60 consecutive trading days during the related conversion period; and

 

		●	if
                                            we elect (or are deemed to have elected) to satisfy our conversion obligation through combination
                                            settlement, we will deliver to holders in respect of each $1,000 principal amount of notes
                                            being converted a settlement amount equal to the sum of the daily settlement amounts (as
                                            defined below) for each of the 60 consecutive trading days during the related conversion
                                            period.

 

“Conversion
period” with respect to the Notes means:

 

		●	if
                                            the relevant conversion date occurs prior to the 65th scheduled trading day prior to the
                                            maturity date, the 60 consecutive trading day period beginning on, and including, the second
                                            trading day immediately following the related conversion date;

 

		●	if
                                            the relevant conversion date occurs on or after the date of our issuance of a notice of redemption
                                            with respect to the notes as described under “—Optional Redemption” in
                                            the Preliminary Offering Memorandum and prior to the redemption date, the 60 consecutive
                                            trading days beginning on, and including, the 61st scheduled trading day immediately preceding
                                            such redemption date; and

 

    Schedule III-4

     

    

 

		●	if
                                            the relevant conversion date occurs on or after the final settlement method election date,
                                            the 60 consecutive trading day period beginning on, and including, the 61st scheduled trading
                                            day immediately preceding the maturity date.

 

The
“daily settlement amount,” for each $1,000 aggregate principal amount of notes validly surrendered for conversion, and for
each trading day during the conversion period, will consist of:

 

		(1)	cash
                                            equal to the lesser of (i) a dollar amount per $1,000 principal amount of notes to be received
                                            upon conversion as specified by us in the notice regarding our chosen settlement method (the
                                            “specified dollar amount”), if any, divided by 60 (such quotient being referred
                                            to as the “daily measurement value”) and (ii) the daily conversion value; and

 

		(2)	to
                                            the extent the daily conversion value exceeds the daily measurement value, a number of shares
                                            equal to (i) the difference between the daily conversion value and the daily measurement
                                            value, divided by (ii) the daily VWAP of our common stock for such trading day.

 

“Daily
conversion value” means, for each trading day during the conversion period, one-sixtieth (1/60th) of the product of (i) the conversion
rate on such trading day and (ii) the daily VWAP of our common stock on such trading day.

 

As
described under “Description of the Notes—Optional Redemption,” in the case of any optional redemption, we will provide
not less than 70 nor more than 90 scheduled trading days’ notice before the redemption date to the trustee, the paying agent and
each holder of notes, and the redemption price will be equal to 100% of the principal amount of the notes to be redeemed, plus accrued
and unpaid interest thereon, if any, to, but excluding, the redemption date (unless the redemption date falls after a regular record
date but on or prior to the immediately succeeding interest payment date, in which case we will pay the full amount of such accrued and
unpaid interest to the holder of record as of the close of business on such regular record date, and the redemption price will be equal
to 100% of the principal amount of the notes to be redeemed).

 

In
connection with an issuance or distribution described in the bullet points under the caption “Description of the Notes—Conversion
Rights—Conversion upon Specified Corporate Events—Conversion upon Certain Distributions,” we must notify holders (with
a copy to the trustee and conversion agent) at least 70 scheduled trading days prior to the ex-dividend date for such distribution. Once
we have given such notice, holders may surrender their notes for conversion at any time until the earlier of the close of business on
the business day immediately preceding the ex-dividend date and our announcement that such issuance or distribution will not take place.

 

*
* *

 

This
pricing term sheet is intended for the sole use of the person to whom it is provided by the sender. This pricing term sheet is confidential
and is for your information only and is not intended to be used by anyone other than you. The information in this pricing term sheet
does not purport to be a complete description of the Notes or the Offering. This pricing term sheet does not constitute an offer to sell
or the solicitation of an offer to buy any Notes in any jurisdiction to any person to whom it is unlawful to make such offer or solicitation
in such jurisdiction. 

 

The
Notes and any shares of Common Stock issuable upon conversion of the Notes are not transferable except in accordance with the restrictions
described under “Transfer Restrictions” in the Preliminary Offering Memorandum.

 

A
copy of the Preliminary Offering Memorandum may be obtained by contacting Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor,
New York, NY 10014, Attention: Prospectus Department, by telephone at (866) 718-1649 or by email at prospectus@morganstanley.com; BofA
Securities, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC 28255-0001, Attn: Prospectus Department, or by email at:
dg.prospectus_requests@bofa.com; BMO Capital Markets Corp., Attention: Equity Syndicate Department, 151 W. 42nd Street, 32nd Floor, New
York, NY 10036, by email at bmoprospectus@bmo.com, or by phone at (800) 414-3627; or J.P. Morgan Securities LLC, c/o, Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 or by telephone at (866) 803-9204.

 

ANY
LEGENDS, DISCLAIMERS OR OTHER NOTICES THAT MAY APPEAR BELOW ARE NOT APPLICABLE TO THIS COMMUNICATION AND SHOULD BE DISREGARDED. SUCH
DISCLAIMERS OR OTHER NOTICES WERE AUTOMATICALLY GENERATED AS A RESULT OF THIS COMMUNICATION BEING SENT VIA BLOOMBERG OR ANOTHER EMAIL
SYSTEM

 

    Schedule III-5

     

    

 

SCHEDULE
IV

 

[PROVIDED
SEPARATELY]

 

    Schedule IV-1

     

    

 

ANNEX
I

 

[PROVIDED
SEPARATELY]

 

     Annex I-1

     

    

 

ANNEX
II

 

[PROVIDED
SEPARATELY]

 

     Annex II-1

     

    

 

ANNEX
III

 

[_________],
2022

 

Morgan
Stanley & Co. LLC

1585
Broadway

New
York, New York 10036

 

BMO
Capital Markets Corp.

3
Times Square, 25th Floor

New
York, New York 10036

 

BofA
Securities, Inc.

One
Bryant Park

New
York, New York 10036

 

J.P.
Morgan Securities LLC

383 Madison Avenue

New York, New York 10179

 

As
representatives of the several initial purchasers

 

Ladies
and Gentlemen:

 

The
undersigned understands that Morgan Stanley & Co. LLC, BMO Capital Markets Corp., BofA Securities, Inc. and J.P. Morgan Securities
LLC (collectively, the “Representatives”) propose to enter into a Purchase Agreement (the “Purchase Agreement”)
with Envestnet, Inc. (the “Company”) providing for the offering (the “Offering”) by the several initial purchasers,
including the Representatives named therein (the “Initial Purchasers”), of the Company’s convertible notes.

 

In
order to induce the Initial Purchasers to enter into the Purchase Agreement and to participate in the Offering, the undersigned hereby
irrevocably agrees that, without the prior written consent of the Representatives, he or she will not, during the period commencing on
the date hereof and continuing to and including the date 60 days after the date of the final offering memorandum relating to the Offering
(the “Restricted Period”), (1) offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any
option or contract to sell, grant any option, right or warrant to purchase, lend, pledge, hypothecate or otherwise transfer or dispose
of, directly or indirectly, any shares of common stock, par value $0.005 per share, of the Company (“Common Stock”) beneficially
owned (as such term is used in Rule 13d-3 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), by
the undersigned or any other securities so owned convertible into or exercisable or exchangeable for Common Stock or (2) enter into
any swap, hedge or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of
the Common Stock or such other securities, whether any such transaction described in clause (1) or (2) above is to be settled
by delivery of Common Stock or such other securities, in cash or otherwise.

 

     Annex III-1

     

    

 

The
restrictions contained in the preceding paragraph shall not apply to (a) transactions by the undersigned relating to shares of Common
Stock or other securities acquired in open market transactions after the completion of the Offering, provided that no
filing under Section 16(a) of the Exchange Act shall be required or shall be voluntarily made during the Restricted Period in connection
with subsequent sales of Common Stock or other securities acquired in such open market transactions; (b) transfers by the undersigned
of shares of Common Stock or any security convertible into Common Stock as a bona fide gift or charitable contribution; (c) distributions
by the undersigned of shares of Common Stock or any security convertible into Common Stock to limited partners or stockholders of the
undersigned; (d) the establishment of a trading plan pursuant to Rule 10b5-1 under the Exchange Act (a “10b5-1 Plan”) for
the transfer of shares of Common Stock, provided that such 10b5-1 Plan does not provide for the transfer of Common Stock
during the Restricted Period and no public announcement or filing under the Exchange Act regarding the establishment of such 10b5-1 Plan
shall be required of or voluntarily made by or on behalf of the undersigned during the Restricted Period; (e) transfers of shares
of Common Stock to family members of, and other persons sharing a household with, the undersigned in connection with personal estate
planning matters; provided that in the case of any transfer or distribution pursuant to clause (b), (c), or (e),
(A) the donee, distributee or transferee shall enter into a written agreement, satisfactory to the Representatives, pursuant to
which the donee, distributee or transferee shall agree to receive and hold such shares of Common Stock or security convertible into Common
Stock subject to the provisions hereof and (B) no filing under Section 16(a) of the Exchange Act, reporting a reduction in
beneficial ownership of shares of Common Stock, shall be required or shall be voluntarily made in respect of the transfer or distribution
during the Restricted Period; (f) the exercise of options granted under the Company’s equity-based incentive plans, provided
that the shares of Common Stock delivered upon such exercise are subject to the restrictions set forth in the forgoing sentence;
(g) the surrender or forfeiture of shares of Common Stock to the Company in a transaction exempt from Section 16(b) of the Exchange Act
to satisfy tax withholding obligations upon exercise or vesting of stock options, restricted stock awards or similar equity awards; (h) transfers
of shares of Common Stock to the Company in connection with the cashless exercise of options that would otherwise expire, other than
a “broker-assisted” cashless exercise; provided that, for the avoidance of doubt, any shares of Common Stock
received in connection with the cashless exercise of options shall be subject to the restrictions set forth in the preceding paragraph;
or (i) sales of Common Stock under 10b5-1 Plans in existence on the date hereof, provided that any filing under the Exchange Act as a
result of such sale under this clause (i) shall include a footnote stating that such sale was made pursuant to an existing 10b5-1 Plan.
For purposes of this paragraph, “family members” shall mean the spouse, lineal descendant (including adopted and “step”
lineal descendants), father, mother, brother or sister of the transferor. In addition, the undersigned agrees that, without the prior
written consent of the Representatives, he, she or it will not, during the Restricted Period, make any demand for, or exercise any right
with respect to, the registration of any shares of Common Stock or any security convertible into or exercisable or exchangeable for Common
Stock, other than in connection with the Offering.

 

In
addition, the undersigned consents to the entry of stop transfer instructions with the Company’s transfer agent and registrar against
the transfer of any shares of Common Stock held by the undersigned, except in compliance with this agreement.

 

The
undersigned acknowledges and agrees that the Initial Purchasers have not provided any recommendation or investment advice nor have the
Initial Purchasers solicited any action from the undersigned with respect to the Offering and the undersigned has consulted their own
legal, accounting, financial, regulatory and tax advisors to the extent deemed appropriate. The undersigned further acknowledges and
agrees that, although the Representatives may be required or choose to provide certain Regulation Best Interest and Form CRS disclosures
to you in connection with the Offering, the Representatives and the other Initial Purchasers are not making a recommendation to you to
enter into this agreement, and nothing set forth in such disclosures is intended to suggest that the Representatives or any Initial Purchaser
is making such a recommendation.

 

The
undersigned understands that the Company and the Initial Purchasers are relying upon this agreement in proceeding toward consummation
of the Offering. The undersigned further understands that this agreement is irrevocable and shall be binding upon the undersigned’s
heirs, legal representatives, successors and assigns. It is understood, however, that if the Company notifies you, prior to the execution
of the Purchase Agreement, that it does not intend to proceed with the Offering or if the Purchase Agreement is terminated then this
agreement shall terminate.

 

[Signature
Page Follows]

 

     Annex III-2

     

    

 

	 	Very truly yours,
	 	 
	Dated: ______________, 2022	 
	 	Signature
	 	 
	 	 
	 	Name and Title

 

 

Annex
III-3Exhibit 10.2

 

[DEALER]

 

November 14, 2022

 

	To:	Envestnet, Inc.
	 	1000 Chesterbrook Boulevard, Suite 250
	 	Berwyn, Pennsylvania 19312

 

	 	Attention:	[___________]
	 	Telephone No.:	[___________]
	 	Facsimile No.:	[___________]

 

Re: Base Call Option Transaction

 

The purpose of this letter
agreement (this “Confirmation”) is to confirm the terms and conditions of the call option transaction entered into
between [DEALER] (“Dealer”) and Envestnet, Inc. (“Counterparty”) as of the Trade Date specified
below (the “Transaction”). This letter agreement constitutes a “Confirmation” as referred to in the ISDA
Master Agreement specified below. Each party further agrees that this Confirmation together with the Agreement evidence a complete binding
agreement between Counterparty and Dealer as to the subject matter and terms of the Transaction to which this Confirmation relates, and
shall supersede all prior or contemporaneous written or oral communications with respect thereto.

 

The definitions and provisions
contained in the 2002 ISDA Equity Derivatives Definitions (the “Equity Definitions”), as published by the International
Swaps and Derivatives Association, Inc. (“ISDA”) are incorporated into this Confirmation. In the event of any inconsistency
between the Equity Definitions and this Confirmation, this Confirmation shall govern. Certain defined terms used herein are based on terms
that are defined in the Offering Memorandum dated November 14, 2022 (the “Offering Memorandum”) relating to the 2.625%
Convertible Notes due 2027 (as originally issued by Counterparty, the “Convertible Notes” and each USD 1,000 principal
amount of Convertible Notes, a “Convertible Note”) issued by Counterparty in an aggregate initial principal amount
of USD 500,000,000 (as may be increased by up to an aggregate principal amount of USD 75,000,000 if and to the extent that the Initial
Purchasers (as defined herein) exercise their option to purchase additional Convertible Notes pursuant to the Purchase Agreement (as defined
herein)) pursuant to an Indenture to be dated November 17, 2022 among Counterparty, as issuer, Envestnet Asset Management, Inc., as guarantor,
and U.S. Bank Trust Company, National Association, as trustee (the “Indenture”). In the event of any inconsistency
between the terms defined in the Offering Memorandum, the Indenture and this Confirmation, this Confirmation shall govern. The parties
acknowledge that this Confirmation is entered into on the date hereof with the understanding that (i) definitions set forth in the Indenture
that are also defined herein by reference to the Indenture and (ii) sections of the Indenture that are referred to herein will conform
to the descriptions thereof in the Offering Memorandum. If any such definitions in the Indenture or any such sections of the Indenture
differ from the descriptions thereof in the Offering Memorandum, the descriptions thereof in the Offering Memorandum will govern for purposes
of this Confirmation. The parties further acknowledge that the Indenture section numbers and cross-references used herein are based on
the draft of the Indenture last reviewed by Dealer as of the date of this Confirmation, and if any such section numbers or cross-references
are changed in the Indenture as executed, the parties will amend this Confirmation in good faith to preserve the intent of the parties.
Subject to the foregoing, references to the Indenture herein are references to the Indenture as in effect on the date of its execution,
and if the Indenture is amended or supplemented following such date (other than any amendment or supplement (x) pursuant to Section 10.01(i)
of the Indenture that, as determined by the Calculation Agent, conforms the Indenture to the description of Convertible Notes in the Offering
Memorandum or (y) pursuant to Section 14.11 of the Indenture, subject, in the case of this clause (y), to the second paragraph under “Method
of Adjustment” in Section 3), any such amendment or supplement will be disregarded for purposes of this Confirmation (other than
as provided in Section 9(i)(iii) below) unless the parties agree otherwise in writing.

 

Each party is hereby advised,
and each such party acknowledges, that the other party has engaged in, or refrained from engaging in, substantial financial transactions
and has taken other material actions in reliance upon the parties’ entry into the Transaction to which this Confirmation relates
on the terms and conditions set forth below.

 

     

     

    

 

1.   This
Confirmation evidences a complete and binding agreement between Dealer and Counterparty as to the terms of the Transaction to which this
Confirmation relates. This Confirmation shall supplement, form a part of, and be subject to an agreement in the form of the 2002 ISDA
Master Agreement (the “Agreement”) as if Dealer and Counterparty had executed an agreement in such form (but without
any Schedule except for (i) the election of the laws of the State of New York as the governing law (without reference to choice of law
doctrine other than Sections 5-1401 and 5-1402 of the General Obligations Law)) on the Trade Date; (ii) the election of US Dollars as
the Termination Currency; and (iii) the election that the “Cross Default” provisions of Section 5(a)(vi) of the Agreement
shall apply to Dealer with a “Threshold Amount” of three percent of Dealer’s [ultimate parent’s] shareholders’
equity; provided that (A) “Specified Indebtedness” shall not include obligations in respect of deposits received in
the ordinary course of Dealer’s banking business and (B) the phrase “or becoming capable at such time of being declared”
shall be deleted from clause (1) of such Section 5(a)(vi)).

 

In the event of any inconsistency
between provisions of the Agreement and this Confirmation, this Confirmation will prevail for the purpose of the Transaction to which
this Confirmation relates. The parties hereby agree that no transaction other than the Transaction to which this Confirmation relates
shall be governed by the Agreement.

 

2.   The
terms of the particular Transaction to which this Confirmation relates are as follows:

 

General Terms.

 

	 	Trade Date:	November 14, 2022
	 	 	 
	 	Effective Date:	The Trade Date
	 	 	 
	 	Option Style:	“Modified American”, as described under “Procedures for Exercise” below
	 	 	 
	 	Option Type:	Call
	 	 	 
	 	Buyer:	Counterparty
	 	 	 
	 	Seller:	Dealer
	 	 	 
	 	Shares:	The common stock of Counterparty, par value USD 0.005 per share (Exchange symbol “ENV”).
	 	 	 
	 	Number of Options:	500,000.  For the avoidance of doubt, the Number of Options shall be reduced by any Options exercised by Counterparty.  In no event will the Number of Options be less than zero.
	 	 	 
	 	Applicable Percentage:	25%
	 	 	 
	 	Option Entitlement:	A number equal to the product of the Applicable Percentage and 13.6304.
	 	 	 
	 	Strike Price:	USD 73.3654
	 	 	 
	 	Cap Price:	USD 110.7400
	 	 	 
	 	Premium:	USD 17,262,500
	 	 	 
	 	Premium Payment Date:	November 17, 2022
	 	 	 
	 	Exchange:	The New York Stock Exchange
	 	 	 
	 	Related Exchange(s):	All Exchanges
	 	 	 
	 	Excluded Provisions:	Section 14.06(j) and Section 14.02 of the Indenture.

 

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Procedures for Exercise.

 

	 	Conversion Date:	With respect to any conversion of a Convertible Note (other than any conversion of Convertible Notes with a Conversion Date occurring prior to the Final Settlement Method Election Date (any such conversion, an “Early Conversion”), to which the provisions of Section 9(i)(i) of this Confirmation shall apply), the date on which the Holder (as such term is defined in the Indenture) of such Convertible Note satisfies all of the requirements for conversion thereof as set forth in Section 14.03 of the Indenture.
	 	 	 
	 	Final Settlement Method Election Date:	The 65th Scheduled Valid Day prior to December 1, 2027
	 	 	 
	 	Expiration Time:	The Valuation Time
	 	 	 
	 	Expiration Date:	December 1, 2027, subject to earlier exercise.
	 	 	 
	 	Multiple Exercise:	Applicable, as described under “Automatic Exercise” below.
	 	 	 
	 	Automatic Exercise:	Notwithstanding Section 3.4 of the Equity Definitions, on each Conversion Date occurring on or after the Final Settlement Method Election Date, in respect of which a Notice of Conversion that is effective as to Counterparty has been delivered by the relevant converting Holder, a number of Options equal to the number of Convertible Notes in denominations of USD 1,000 as to which such Conversion Date has occurred shall be deemed to be automatically exercised; provided that such Options shall be exercised or deemed exercised only if Counterparty has provided a Notice of Exercise to Dealer in accordance with “Notice of Exercise” below.
	 	 	 
	 	 	Notwithstanding the foregoing, in no event shall the number of Options that are exercised or deemed exercised hereunder exceed the Number of Options.
	 	 	 
	 	Notice of Exercise:	Notwithstanding anything to the contrary in the Equity Definitions or under “Automatic Exercise” above, in order to exercise any Options relating to Convertible Notes with a Conversion Date occurring on or after the Final Settlement Method Election Date, Counterparty must notify Dealer in writing before 5:00 p.m. (New York City time) on the Scheduled Valid Day immediately preceding the Expiration Date specifying the number of such Options; provided that if the Relevant Settlement Method for such Options is (x) Net Share Settlement and the Specified Cash Amount (as defined below) is not USD 1,000, (y) Cash Settlement or (z) Combination Settlement, Dealer shall have received a separate notice (the “Notice of Final Settlement Method”) in respect of all such Convertible Notes before 5:00 p.m. (New York City time) on the Final Settlement Method Election Date specifying (1) the Relevant Settlement Method for such Options, and (2) if the settlement method for the related Convertible Notes is not Settlement in Shares or Settlement in Cash (each as defined below), the fixed amount of cash per Convertible Note that Counterparty has elected to deliver to Holders (as such term is defined in the Indenture) of the related Convertible Notes (the “Specified Cash Amount”).  Notwithstanding anything to the contrary herein, if Counterparty does not timely deliver the Notice of Final Settlement Method then the Notice of Final Settlement Method shall be deemed timely given and the Settlement Method specified therein shall be deemed to be Net Share Settlement with a “Specified Dollar Amount” (as defined in the Indenture) of USD 1,000. Counterparty acknowledges its responsibilities under applicable securities laws, and in particular Section 9 and Section 10(b) of the Exchange Act (as defined below) and the rules and regulations thereunder, in respect of any election (or any deemed election) of a settlement method with respect to the Convertible Notes.

 

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	 	Valuation Time:	At the close of trading of the regular trading session on the Exchange; provided that if the principal trading session is extended, the Calculation Agent shall determine the Valuation Time in its commercially reasonable discretion.
	 	 	 
	 	Market Disruption Event:	A “Market Disruption Event” as defined in the Indenture.

 

Settlement Terms.

 

	 	Settlement Method:	For any Option, Net Share Settlement; provided that if the Relevant Settlement Method set forth below for such Option is not Net Share Settlement, then the Settlement Method for such Option shall be such Relevant Settlement Method, but only if Counterparty shall have notified Dealer of the Relevant Settlement Method in the Notice of Final Settlement Method for such Option.
	 	 	 
	 	Relevant Settlement Method:	In respect of any Option:

 

	 	 	(i)	if Counterparty has elected to settle its conversion obligations in respect of the related Convertible Note (A) entirely in Shares pursuant to Section 14.04(a)(v)(A) of the Indenture (together with cash in lieu of fractional Shares) (such settlement method, “Settlement in Shares”), (B) in a combination of cash and Shares pursuant to Section 14.04(a)(v)(C) of the Indenture with a Specified Cash Amount less than USD 1,000 or (C) in a combination of cash and Shares pursuant to Section 14.04(a)(v)(C) of the Indenture with a Specified Cash Amount equal to USD 1,000, then, in each case, the Relevant Settlement Method for such Option shall be Net Share Settlement;
	 	 	 	 
	 	 	(ii)	if Counterparty has elected to settle its conversion obligations in respect of the related Convertible Note in a combination of cash and Shares pursuant to Section 14.04(a)(v)(C) of the Indenture with a Specified Cash Amount greater than USD 1,000, then the Relevant Settlement Method for such Option shall be Combination Settlement; and

 

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	 	 	(iii)	if Counterparty has elected to settle its conversion obligations in respect of the related Convertible Note entirely in cash pursuant to Section 14.04(a)(v)(B) of the Indenture (such settlement method, “Settlement in Cash”), then the Relevant Settlement Method for such Option shall be Cash Settlement.

 

	 	Net Share Settlement:	If Net Share Settlement is applicable to any Option exercised or deemed exercised hereunder, Dealer will deliver to Counterparty, on the relevant Settlement Date for each such Option, a number of Shares (the “Net Share Settlement Amount”) equal to the sum, for each Valid Day during the Settlement Averaging Period for each such Option, of (i) (a) the Daily Option Value for such Valid Day, divided by (b) the Relevant Price on such Valid Day, divided by (ii) the number of Valid Days in the Settlement Averaging Period; provided that in no event shall the Net Share Settlement Amount for any Option exceed a number of Shares equal to the Applicable Limit for such Option divided by the Applicable Limit Price on the Settlement Date for such Option.
	 	 	 
	 	 	Dealer will pay cash in lieu of delivering any fractional Shares to be delivered with respect to any Net Share Settlement Amount valued at the Relevant Price for the last Valid Day of the Settlement Averaging Period.
	 	 	 
	 	Combination Settlement:	If Combination Settlement is applicable to any Option exercised or deemed exercised hereunder, Dealer will pay or deliver, as the case may be, to Counterparty, on the relevant Settlement Date for each such Option:

 

	 	 	(i)	cash (the “Combination Settlement Cash Amount”) equal to the sum, for each Valid Day during the Settlement Averaging Period for such Option, of (A) an amount (the “Daily Combination Settlement Cash Amount”) equal to the lesser of (1) the product of (x) the Applicable Percentage and (y) the Specified Cash Amount minus USD 1,000 and (2) the Daily Option Value, divided by (B) the number of Valid Days in the Settlement Averaging Period; provided that if the calculation in clause (A) above results in zero or a negative number for any Valid Day, the Daily Combination Settlement Cash Amount for such Valid Day shall be deemed to be zero; and
	 	 	 	 
	 	 	(ii)	Shares (the “Combination Settlement Share Amount”) equal to the sum, for each Valid Day during the Settlement Averaging Period for such Option, of a number of Shares for such Valid Day (the “Daily Combination Settlement Share Amount”) equal to (A) (1) the Daily Option Value on such Valid Day minus the Daily Combination Settlement Cash Amount for such Valid Day, divided by (2) the Relevant Price on such Valid Day, divided by (B) the number of Valid Days in the Settlement Averaging Period; provided that if the calculation in sub-clause (A)(1) above results in zero or a negative number for any Valid Day, the Daily Combination Settlement Share Amount for such Valid Day shall be deemed to be zero;

 

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	 	 	provided that in no event shall the sum of (x) the Combination Settlement Cash Amount for any Option and (y) the Combination Settlement Share Amount for such Option multiplied by the Applicable Limit Price on the Settlement Date for such Option, exceed the Applicable Limit for such Option.
	 	 	 
	 	 	Dealer will pay cash in lieu of delivering any fractional Shares to be delivered with respect to any Combination Settlement Share Amount valued at the Relevant Price for the last Valid Day of the Settlement Averaging Period.
	 	 	 
	 	Cash Settlement:	If Cash Settlement is applicable to any Option exercised or deemed exercised hereunder, in lieu of Section 8.1 of the Equity Definitions, Dealer will pay to Counterparty, on the relevant Settlement Date for each such Option, an amount of cash (the “Cash Settlement Amount”) equal to the sum, for each Valid Day during the Settlement Averaging Period for such Option, of (i) the Daily Option Value for such Valid Day, divided by (ii) the number of Valid Days in the Settlement Averaging Period.  
	 	 	 
	 	Daily Option Value:	For any Valid Day, an amount equal to (i) the Option Entitlement on such Valid Day, multiplied by (ii) (A) the lesser of the Relevant Price on such Valid Day and the Cap Price, less (B) the Strike Price on such Valid Day; provided that if the calculation contained in clause (ii) above results in a negative number, the Daily Option Value for such Valid Day shall be deemed to be zero.  In no event will the Daily Option Value be less than zero.
	 	 	 
	 	Applicable Limit:	For any Option, an amount of cash equal to the Applicable Percentage multiplied by the excess of (i) the aggregate of (A) the amount of cash, if any, paid to the Holder of the related Convertible Note upon conversion of such Convertible Note and (B) the number of Shares, if any, delivered to the Holder of the related Convertible Note upon conversion of such Convertible Note multiplied by the Applicable Limit Price on the Settlement Date for such Option, over (ii) USD 1,000.
	 	 	 
	 	Applicable Limit Price:	On any day, the opening price as displayed under the heading “Op” on Bloomberg page ENV <equity> (or any successor thereto).

 

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	 	Valid Day:	A “Trading Day” for purposes of determining the amounts due upon conversion of the Convertible Notes as defined in the Indenture.
	 	 	 
	 	Scheduled Valid Day:	A “Scheduled Trading Day” as defined in the Indenture.
	 	 	 
	 	Business Day:	A “Business Day” as defined in the Indenture.
	 	 	 
	 	Relevant Price:	On any Valid Day, the per Share volume-weighted average price as displayed under the heading “Bloomberg VWAP” on Bloomberg page ENV <equity> AQR (or its equivalent successor if such page is not available) in respect of the period from the scheduled open of trading on the Exchange to the Scheduled Closing Time of the Exchange on such Valid Day (or if such volume-weighted average price is unavailable at such time, the market value of one Share on such Valid Day, as determined by the Calculation Agent in a commercially reasonable manner using, if practicable, a volume-weighted average method). The Relevant Price will be determined without regard to after-hours trading or any other trading outside of the regular trading session trading hours.
	 	 	 
	 	Settlement Averaging Period:	For any Option, the 60 consecutive Valid Days commencing on, and including, the 61st Scheduled Valid Day immediately prior to the Expiration Date.
	 	 	 
	 	Settlement Date:	For any Option, the second Business Day immediately following the final Valid Day of the Settlement Averaging Period for such Option.
	 	 	 
	 	Settlement Currency:	USD
	 	 	 
	 	Other Applicable Provisions:	The provisions of Sections 9.1(c), 9.8, 9.9 and 9.11 of the Equity Definitions will be applicable, except that all references in such provisions to “Physically-settled” shall be read as references to “Share Settled”.  “Share Settled” in relation to any Option means that Net Share Settlement or Combination Settlement is applicable to that Option.
	 	 	 
	 	Representation and Agreement:	Notwithstanding anything to the contrary in the Equity Definitions (including, but not limited to, Section 9.11 thereof), the parties acknowledge that (i) any Shares delivered to Counterparty shall be, upon delivery, subject to restrictions and limitations arising from Counterparty’s status as issuer of the Shares under applicable securities laws, (ii) Dealer may deliver any Shares required to be delivered hereunder in certificated form in lieu of delivery through the Clearance System, (iii) any Shares delivered to Counterparty may be “restricted securities” (as defined in Rule 144 under the Securities Act of 1933, as amended (the “Securities Act”)) and (iv) the Representation and Agreement contained in Section 9.11 of the Equity Definitions shall be deemed modified accordingly.

 

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3.   Additional
Terms applicable to the Transaction.

 

Adjustments applicable to the Transaction:

 

	 	Potential Adjustment Events:	Notwithstanding Section 11.2(e) of the Equity Definitions, a “Potential Adjustment Event” means an occurrence of any event or condition, as set forth in any Dilution Adjustment Provision, that would result in an adjustment under the Indenture to the “Conversion Rate” or the composition of a “unit of Reference Property” or to any “Last Reported Sale Price”, “Daily VWAP,” “Daily Conversion Value” or “Daily Settlement Amount” (each as defined in the Indenture).  For the avoidance of doubt, Dealer shall not have any delivery or payment obligation hereunder, and no adjustment shall be made to the terms of the Transaction, on account of (x) any distribution of cash, property or securities by Counterparty to holders of the Convertible Notes (upon conversion or otherwise) or (y) any other transaction in which holders of the Convertible Notes are entitled to participate, in each case, in lieu of an adjustment under the Indenture of the type referred to in the immediately preceding sentence (including, without limitation, pursuant to the second sentence of Section 14.06(c) of the Indenture or the third sentence of Section 14.06(d) of the Indenture).
	 	Method of Adjustment:	Calculation Agent Adjustment, which shall not have the meaning set forth in Section 11.2(c) of the Equity Definitions and instead shall mean that, upon any Potential Adjustment Event, the Calculation Agent, acting in good faith, shall make adjustments in a commercially reasonable manner to any one or more of the Strike Price, Number of Options, Option Entitlement and any other variable relevant to the exercise, settlement or payment for the Transaction that correspond to the adjustments to the Convertible Notes under the Indenture; provided that, notwithstanding the foregoing, if any Potential Adjustment Event occurs during the Settlement Averaging Period and Section 14.06(f) or Section 14.06(g) of the Indenture applies to the relevant “Conversion Rate” adjustment, then the Calculation Agent shall in good faith determine the adjustment to be made to any one or more of the Strike Price, Number of Options, Option Entitlement and any other variable relevant to the exercise, settlement or payment for the Transaction in a commercially reasonable manner.
	 	 	Notwithstanding the foregoing and “Consequences of Merger Events / Tender Offers” below, if the Calculation Agent in good faith disagrees with any adjustment to the Convertible Notes determined pursuant to the Indenture that involves an exercise of discretion by Counterparty or its board of directors (including, without limitation, pursuant to Section 14.06(m) of the Indenture, Section 14.11 of the Indenture or any supplemental indenture entered into thereunder or in connection with any proportional adjustment or the determination of the fair value of any securities, property, rights or other assets), then in each such case, the Calculation Agent will determine the adjustment to be made to any one or more of the Strike Price, Number of Options, Option Entitlement and any other variable relevant to the exercise, settlement or payment for the Transaction, using, if applicable, the methodology set forth in the Indenture for any such adjustment, in good faith and in a commercially reasonable manner.

 

	 	 	Notwithstanding anything contained herein to the contrary, (i) in connection with any Potential Adjustment Event as a result of an event or condition set forth in Section 14.06(b) of the Indenture or Section 14.06(c) of the Indenture where, in either case, the period for determining “Y” (as such term is used in Section 14.06(b) of the Indenture) or “SP0” (as such term is used in Section 14.06(c) of the Indenture), as the case may be, begins before Counterparty has publicly announced the event or condition giving rise to such Potential Adjustment Event, then the Calculation Agent shall, acting in good faith and in a commercially reasonable manner, have the right to adjust any variable relevant to the exercise, settlement or payment for the Transaction as appropriate to reflect the commercially reasonable costs (including, but not limited to, hedging mismatches and market losses) and commercially reasonable out-of-pocket expenses incurred by Dealer in connection with its hedging activities, with such adjustments made assuming that Dealer maintains commercially reasonable hedge positions, as a result of such event or condition not having been publicly announced prior to the beginning of such period and (ii) if any Potential Adjustment Event is declared and (a) the event or condition giving rise to such Potential Adjustment Event is subsequently amended, modified, cancelled or abandoned, (b) the “Conversion Rate” (as defined in the Indenture) is otherwise not adjusted at the time or in the manner contemplated by the relevant Dilution Adjustment Provision based on such declaration or (c) the “Conversion Rate” (as defined in the Indenture) is adjusted as a result of such Potential Adjustment Event and subsequently re-adjusted (each of clauses (a), (b) and (c), a “Potential Adjustment Event Change”) then, in each case, the Calculation Agent shall in good faith have the right to adjust any variable relevant to the exercise, settlement or payment for the Transaction as appropriate to reflect the costs (including, but not limited to, hedging mismatches and market losses) and expenses incurred by Dealer in connection with its commercially reasonable hedging activities as a result of such Potential Adjustment Event Change, with such adjustments made assuming that Dealer maintains commercially reasonable hedge positions.
	 	Dilution Adjustment Provisions:	Sections 14.06(a), (b), (c), (d), (e) and (m) of the Indenture.

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Extraordinary Events applicable to
the Transaction:

 

	 	Merger Events:	Applicable; provided that notwithstanding Section 12.1(b) of the Equity Definitions, a “Merger Event” means the occurrence of any event or condition set forth in the definition of “Share Exchange Event” in Section 14.11(a) of the Indenture.
	 	Tender Offers:	Applicable; provided that “Tender Offer” shall not have the meaning set forth in Section 12.1(d) of the Equity Definitions and instead shall mean the occurrence of any event or condition set forth in Section 14.06(e) of the Indenture.  
	 	Consequences of Merger Events/

                                                                            Tender Offers:
	Notwithstanding Section 12.2 and Section 12.3 of the Equity Definitions, upon the occurrence of a Merger Event or a Tender Offer, the Calculation Agent shall make a corresponding adjustment in respect of any adjustment under the Indenture to any one or more of the nature of the Shares (in the case of a Merger Event), Strike Price, Number of Options, Option Entitlement and any other variable relevant to the exercise, settlement or payment for the Transaction, subject to the second paragraph under “Method of Adjustment”; provided, however, that such adjustment shall be made without regard to any adjustment to the Conversion Rate pursuant to any Excluded Provision; provided further that if, with respect to a Merger Event or a Tender Offer, (i) the consideration for the Shares includes (or, at the option of a holder of Shares, may include) shares of an entity or person that is not a corporation or is not organized under the laws of the United States, any State thereof or the District of Columbia or (ii) the Counterparty to the Transaction following such Merger Event or Tender Offer will not be a corporation organized under the laws of the United States, any State thereof or the District of Columbia, then, in either case, Cancellation and Payment (Calculation Agent Determination) may apply in Dealer’s commercially reasonable discretion; provided further that, for the avoidance of doubt, adjustments shall be made pursuant to the provisions set forth above regardless of whether any Merger Event or Tender Offer gives rise to an Early Conversion.
	 	Consequences of Announcement Events:	Modified Calculation Agent Adjustment as set forth in Section 12.3(d) of the Equity Definitions; provided that, in respect of an Announcement Event, (x) references to “Tender Offer” shall be replaced by references to “Announcement Event” and references to “Tender Offer Date” shall be replaced by references to “date of such Announcement Event”, (y) the phrase “exercise, settlement, payment or any other terms of the Transaction (including, without limitation, the spread)” shall be replaced with the phrase “Cap Price (provided that in no event shall the Cap Price be less than the Strike Price)” and the words “whether within a commercially reasonable (as determined by the Calculation Agent) period of time prior to or after the Announcement Event,” shall be inserted prior to the word “which” in the seventh line, and (z) for the avoidance of doubt, the Calculation Agent shall determine whether the relevant Announcement Event has had a material economic effect on the Transaction (and, if so, shall, acting in good faith and in a commercially reasonable manner, adjust the Cap Price accordingly) on one or more occasions on or after the date of the Announcement Event up to, and including, the Expiration Date, any Early Termination Date and/or any other date of cancellation, it being understood that any adjustment in respect of an Announcement Event shall take into account any earlier adjustment relating to the same Announcement Event and shall not be duplicative of any other adjustment made pursuant to this Confirmation.  An Announcement Event shall be an “Extraordinary Event” for purposes of the Equity Definitions, to which Article 12 of the Equity Definitions, as modified in this paragraph, is applicable.

 

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	 	Announcement Event:	(i) The public announcement by the Issuer, any subsidiary of the Issuer or any Valid Third Party Entity of (x) any transaction or event that, if completed, would constitute a Merger Event or Tender Offer, (y) any potential acquisition or disposition by Issuer and/or its subsidiaries where the aggregate consideration exceeds 35% of the market capitalization of Issuer as of the date of such announcement (an “Acquisition Transaction”) or (z) the intention to enter into a Merger Event or Tender Offer or an Acquisition Transaction, (ii) the public announcement by Issuer of an intention to solicit or enter into, or to explore strategic alternatives or other similar undertaking that may include, a Merger Event or Tender Offer or an Acquisition Transaction or (iii) any subsequent public announcement by the Issuer, any subsidiary or agent of the Issuer or any Valid Third Party Entity of a change to a transaction or intention that is the subject of an announcement of the type described in clause (i) or (ii) of this sentence (including, without limitation, a new announcement, whether or not by the same party, relating to such a transaction or intention or the announcement of a withdrawal from, or the abandonment or discontinuation of, such a transaction or intention), as determined by the Calculation Agent in a commercially reasonable manner.  For the avoidance of doubt, the occurrence of an Announcement Event with respect to any transaction or intention shall not preclude the occurrence of a later Announcement Event with respect to such transaction or intention. For purposes of this definition of “Announcement Event,” (A) “Merger Event” shall mean such term as defined under Section 12.1(b) of the Equity Definitions (but, for the avoidance of doubt, the remainder of the definition of “Merger Event” in Section 12.1(b) of the Equity Definitions following the definition of “Reverse Merger” therein shall be disregarded) and (B) “Tender Offer” shall mean such term as defined under Section 12.1(d) of the Equity Definitions, except that all references to “voting shares” in Sections 12.1(d), 12.1(e) and 12.1(l) of the Equity Definitions shall be deemed to be references to “Shares”; provided, further that Section 12.1(d) of the Equity Definitions is hereby amended by replacing “10%” with “15%” in the third line thereof.

 

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	 	Valid Third Party Entity:	In respect of any transaction, any third party that has a bona fide intent to enter into or consummate such transaction, as determined by the Calculation Agent in good faith and a commercially reasonable manner (it being understood and agreed that in determining whether such third party has such a bona fide intent, the Calculation Agent may take into consideration the effect of the relevant announcement by such third party on the Shares and/or options relating to the Shares).
	 	Nationalization, Insolvency or Delisting:	Cancellation and Payment (Calculation Agent Determination); provided that, in addition to the provisions of Section 12.6(a)(iii) of the Equity Definitions, it will also constitute a Delisting if the Exchange is located in the United States and the Shares are not immediately re-listed, re-traded or re-quoted on any of the New York Stock Exchange, The NASDAQ Global Select Market or The NASDAQ Global Market (or their respective successors); if the Shares are immediately re-listed, re-traded or re-quoted on any of the New York Stock Exchange, The NASDAQ Global Select Market or The NASDAQ Global Market (or their respective successors), such exchange or quotation system shall thereafter be deemed to be the Exchange.

 

Additional Disruption
Events:

 

	 	Change in Law:	Applicable; provided that Section 12.9(a)(ii) of the Equity Definitions is hereby amended by (i) replacing the phrase “the interpretation” in the third line thereof with the phrase “, or public announcement of, the formal or informal interpretation”, (ii) replacing the word “Shares” where it appears in clause (X) thereof with the words “Hedge Position”, (iii) replacing the parenthetical beginning after the word “regulation” in the second line thereof the words “(including, for the avoidance of doubt and without limitation, (x) any tax law or (y) adoption, effectiveness or promulgation of new regulations authorized or mandated by existing statute)”, and (iv) adding the words “provided that in the case of clause (Y) hereof, any law or regulation is applied consistently by Dealer to all of its similarly situated counterparties and/or similar transactions” after the semi- colon in the last line thereof; and provided further that no event or set of events shall constitute a Change in Law for the purposes of Section 12.9(a)(ii)(Y) to the extent such event or events resulted solely from the deterioration of the creditworthiness of the Hedging Party.
	 	Failure to Deliver:	Applicable

 

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	 	Hedging Disruption:	Applicable; provided that:

 

	 	 	(i)	Section 12.9(a)(v) of the Equity Definitions is hereby amended by inserting the following two phrases at the end of such Section:
	 	 	 	“For the avoidance of doubt, the term “equity price risk” shall be deemed to include, but shall not be limited to, stock price and volatility risk. And, for the further avoidance of doubt, any such transactions or assets referred to in phrases (A) or (B) above must be available on commercially reasonable pricing terms.”; and
	 	 	(ii)	Section 12.9(b)(iii) of the Equity Definitions is hereby amended by inserting in the third line thereof, after the words “to terminate the Transaction”, the words “or the portion of the Transaction affected by such Hedging Disruption”.

 

	 	Increased Cost of Hedging:	Not Applicable
	 	Hedging Party:	For all applicable Additional Disruption Events, Dealer.  Following any determination by the Hedging Party hereunder, within five Business Days following a written request (which may be by e-mail) by Counterparty therefor, the Hedging Party shall provide to Counterparty by e-mail to the e-mail address provided by Counterparty a written explanation and report (in a commonly used file format for the storage and manipulation of financial data) describing in reasonable detail any determination made by it (including, as applicable, any quotations, market data, information from internal sources used in making such determinations, descriptions of the methodology and any assumptions and basis used in making for such determination), it being understood that the Hedging Party shall not be obligated to disclose any proprietary or confidential models or proprietary or confidential information used by it for such determination. All calculations, adjustments and determinations by Dealer acting in its capacity as the Hedging Party shall be made in good faith and in a commercially reasonable manner and assuming that Dealer maintains a commercially reasonable hedge position.
	 	Determining Party:	For all applicable Extraordinary Events, Dealer.  Following any determination by the Determining Party hereunder, within five Business Days following a written request (which may be by e-mail) by Counterparty therefor, the Determining Party shall provide to Counterparty by e-mail to the e-mail address provided by Counterparty a written explanation and report (in a commonly used file format for the storage and manipulation of financial data) describing in reasonable detail any determination made by it (including, as applicable, any quotations, market data, information from internal sources used in making such determinations, descriptions of the methodology and any assumptions and basis used in making for such determination), it being understood that the Determining Party shall not be obligated to disclose any proprietary or confidential models or proprietary or confidential information used by it for such determination. All calculations, adjustments, and determinations by Dealer acting in its capacity as the Determining Party shall be made in good faith and in a commercially reasonable manner and assuming that Dealer maintains a commercially reasonable hedge position.

 

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	 	Non-Reliance:	Applicable
	 		 
	 	Agreements and Acknowledgments

                                                                            Regarding Hedging Activities:
	Applicable
	 	 	 
	 	Additional Acknowledgments:	Applicable

  

	4.	Calculation Agent.	Dealer; provided that, following the occurrence and during the continuance of an Event of Default of the type described in Section 5(a)(vii) of the Agreement with respect to which Dealer is the sole Defaulting Party, Counterparty shall have the right to designate a nationally recognized third-party dealer in equity derivatives to act, during the period commencing on the date such Event of Default occurred and ending on the related Early Termination Date, as the Calculation Agent.  Regardless of whether or not a standard for the actions of the Calculation Agent is explicitly stated in any provision hereof, the standards of Section 1.40 of the Equity Definitions, as modified by adding the words, “acts or” immediately before the words, “is required to act” in line 2 thereof, shall apply to the Calculation Agent at all time and in respect of all circumstances hereunder. Following any determination or calculation by the Calculation Agent hereunder, within five Business Days following a written request by Counterparty therefor, the Calculation Agent shall promptly provide to Counterparty following such request by e-mail to the e-mail address provided by Counterparty in such request a written explanation and report (in a commonly used file format for the storage and manipulation of financial data) displaying in commercially reasonable detail the basis for such determination or calculation (including any quotations, market data or information from internal or external sources, and any assumptions, used in making such determination or calculation), it being understood that the Calculation Agent shall not be obligated to disclose any proprietary or confidential models or proprietary or confidential information used by it for such determination or calculation. 

 

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	5. 	Account Details.
	 
	 	(a) Account for payments to
    Counterparty:
	 	 
	 	Bank: 	[___________]
	 	ABA#:	 [___________]
	 	Acct No.: 	[___________]
	 	Beneficiary:	[___________]
	 	Ref: 	[___________]
	 	 	 
	 	Account for delivery of Shares to Counterparty:
	 	 	 
	 	To be provided.	 
	 	 	 
	 	(b) Account for payments to Dealer:
	 	 
	 	[Bank:] 	[_________] 
	 	[SWIFT:] 	[_________] 
	 	[Bank Routing:] 	[_________]
	 	[Acct Name:] 	[_________]
	 	[Acct No.:]	 [_________]
	 	 	 
	 	Account for delivery of Shares from Dealer:
	 	 
	 	To be provided.	 
	 	 	 
	6. 	Offices.
	 	 
	 	(a) The Office of Counterparty for the Transaction is:  Inapplicable, Counterparty is not a Multibranch Party.
	 	 
	 	(b) The Office of Dealer for the Transaction is: [____________][Inapplicable; Dealer is not a Multibranch Party]
	 	 
	7. 	Notices.
	 	 
	 	(a) Address for notices or communications to Counterparty:
	 	 
	 	Envestnet, Inc.
	 	1000 Chesterbrook Boulevard, Suite 250
	 	Berwyn, Pennsylvania 19312
	 	Attention: 	[___________]
	 	Telephone No.: 	[___________]
	 	Facsimile No.: 	[___________]
	 	 	 
	(b) 	Address for notices or communications to Dealer:
	 	 	 
	 	To: 	[____________]
	 	 	 
	 	Attention: 	[____________]
	 	Telephone: 	[____________]
	 	Email: 	[____________]
	 	 	 
	 	[With a copy to:	 
	 	 	 
	 	To: 	[____________]
	 	 	 
	 	Attention: 	[____________]
	 	Telephone: 	[____________]
	 	Email:	 [____________]]

 

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8.   Representations
and Warranties of Counterparty.

 

Each of the representations and warranties
of Counterparty set forth in Section 1 of the Purchase Agreement (the “Purchase Agreement”) dated as of November 14,
2022, among Counterparty and Morgan Stanley & Co. LLC, BofA Securities, Inc., BMO Capital Markets Corp. and J.P. Morgan Securities
LLC, as representatives of the Initial Purchasers party thereto (the “Initial Purchasers”), are true and correct and
are hereby deemed to be repeated to Dealer as if set forth herein. Counterparty hereby further represents and warrants to Dealer on the
date hereof and on and as of the Premium Payment Date that:

 

		(a)	Counterparty has all necessary corporate power and authority to execute, deliver and perform its obligations
in respect of the Transaction; such execution, delivery and performance have been duly authorized by all necessary corporate action on
Counterparty’s part; and this Confirmation has been duly and validly executed and delivered by Counterparty and constitutes its
valid and binding obligation, enforceable against Counterparty in accordance with its terms, subject to applicable bankruptcy, insolvency,
fraudulent conveyance, reorganization, moratorium and similar laws affecting creditors’ rights and remedies generally, and subject,
as to enforceability, to general principles of equity, including principles of commercial reasonableness, good faith and fair dealing
(regardless of whether enforcement is sought in a proceeding at law or in equity) and except that rights to indemnification and contribution
hereunder may be limited by federal or state securities laws or public policy relating thereto.

 

		(b)	Neither the execution and delivery of this Confirmation nor the incurrence or performance of obligations
of Counterparty hereunder will conflict with or result in a breach of the certificate of incorporation or by-laws (or any equivalent documents)
of Counterparty, or any applicable law or regulation, or any order, writ, injunction or decree of any court or governmental authority
or agency, or any agreement or instrument filed as an exhibit to Counterparty’s most recently filed Annual Report on Form 10-K,
as updated by subsequent filings, or constitute a default under, or result in the creation of any lien under, any such agreement or instrument.

 

		(c)	No consent, approval, authorization, or order of, or filing with, any governmental agency or body or any
court is required in connection with the execution, delivery or performance by Counterparty of this Confirmation, except such as have
been obtained or made and such as may be required under the Securities Act, the Exchange Act (as defined below), state securities laws
or the rules and regulations of FINRA applicable to Dealer; provided that Counterparty makes no representation or warranty regarding
any such requirement that is applicable generally to the ownership of equity securities by Dealer or any of its affiliates solely as a
result of Dealer or any of such affiliates being financial institutions and/or broker-dealers.

 

		(d)	Counterparty is not and, after consummation of the transactions contemplated hereby, will not be required
to register as an “investment company” as such term is defined in the Investment Company Act of 1940, as amended.

 

		(e)	Counterparty is an “eligible contract participant” (as such term is defined in Section 1a(18)
of the Commodity Exchange Act, as amended, other than a person that is an eligible contract participant under Section 1a(18)(C) of the
Commodity Exchange Act).

 

		(f)	Counterparty is not, on the date hereof, in possession of any material non-public information with respect
to Counterparty or the Shares.

 

		(g)	To Counterparty’s knowledge, no state or local (including any non-U.S. jurisdiction’s) law,
rule, regulation or regulatory order applicable to the Shares (not including laws, rules, regulations or regulatory orders of any jurisdiction
that are applicable solely as a result of Dealer’s and/or its affiliates’ activities, assets or businesses, other than Dealer’s activities
in respect of the Transaction) would give rise to any reporting, consent, registration or other requirement (including without limitation
a requirement to obtain prior approval from any person or entity) as a result of Dealer or its affiliates owning or holding (however defined)
Shares in connection with the Transaction, except for any reporting obligations under the Exchange Act (as defined below).

 

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		(h)	Counterparty (A) is capable of evaluating investment risks independently, both in general and with regard
to all transactions and investment strategies involving a security or securities; (B) will exercise independent judgment in evaluating
the recommendations of any broker-dealer or its associated persons, unless it has otherwise notified the broker-dealer in writing; and
(C) has total assets of at least USD 50 million.

 

		(i)	On and immediately after the Trade Date and the Premium Payment Date, (A) the value of the total
assets of Counterparty is greater than the sum of the total liabilities (including contingent liabilities) and the capital (as such terms
are defined in Section 154 and Section 244 of the General Corporation Law of the State of Delaware) of Counterparty, (B) the capital
of Counterparty is adequate to conduct the business of Counterparty, and Counterparty’s entry into the Transaction will not impair
its capital, (C) Counterparty has the ability to pay its debts and obligations as such debts mature and does not intend to, or does
not believe that it will, incur debt beyond its ability to pay as such debts mature, (D) Counterparty will be able to continue as a going
concern; (E) Counterparty is not “insolvent” (as such term is defined under Section 101(32) of the U.S. Bankruptcy Code (Title
11 of the United States Code) (the “Bankruptcy Code”)) and (F) Counterparty would be able to purchase the number of
Shares with respect to the Transaction in compliance with the laws of the jurisdiction of Counterparty’s incorporation (including
the adequate surplus and capital requirements of Sections 154 and 160 of the General Corporation Law of the State of Delaware).

 

		(j)	Counterparty acknowledges that it has received, read and understands the OTC Options Risk Disclosure
Statement and a copy of the most recent disclosure pamphlet prepared by The Options Clearing Corporation entitled “Characteristics
and Risks of Standardized Options”.

 

9.   Other
Provisions.

 

		(a)	Opinions. Counterparty shall deliver to Dealer an opinion of counsel, dated as of the Premium
Payment Date, with respect to the matters set forth in Sections 8(a) through (c) of this Confirmation, subject to customary assumptions,
qualifications and exemptions, in each case, reasonably acceptable to Dealer. Delivery of such opinion to Dealer shall be a condition
precedent for the purpose of Section 2(a)(iii) of the Agreement with respect to each obligation of Dealer under Section 2(a)(i) of the
Agreement.

 

		(b)	Repurchase Notices. Counterparty shall, no later than the day on which Counterparty effects
any repurchase of Shares, give Dealer a written notice of such repurchase (a “Repurchase Notice”) if following such
repurchase, the number of outstanding Shares as determined on such day is (i) less than 48.5 million (in the case of the first such notice)
or (ii) thereafter more than 5.3 million less than the number of Shares included in the immediately preceding Repurchase Notice. Counterparty
agrees to indemnify and hold harmless Dealer and its affiliates and their respective officers, directors, employees, affiliates, advisors,
agents and controlling persons (each, an “Indemnified Person”) from and against any and all commercially reasonable
losses (including losses relating to Dealer’s commercially reasonable hedging activities as a consequence of becoming, or of the
risk of becoming, a Section 16 “insider”, including without limitation, any forbearance from hedging activities or cessation
of hedging activities and any commercially reasonable losses in connection therewith with respect to the Transaction), claims, damages,
judgments, liabilities and commercially reasonable expenses (including reasonable attorney’s fees), joint or several, which an Indemnified
Person may become subject to, as a result of Counterparty’s failure to provide Dealer with a Repurchase Notice when and in the manner
specified in this paragraph, and to reimburse, within 30 days, upon written request, each of such Indemnified Persons for any reasonable
and documented legal or other expenses incurred (and supported by invoices or other documentation setting forth in reasonable detail such
expenses) in connection with investigating, preparing for, providing testimony or other evidence in connection with or defending any of
the foregoing. If any suit, action, proceeding (including any governmental or regulatory investigation), claim or demand shall be brought
or asserted against the Indemnified Person as a result of Counterparty’s failure to provide Dealer with a Repurchase Notice in accordance
with this paragraph, such Indemnified Person shall, promptly notify Counterparty in writing, and Counterparty, upon request of the Indemnified
Person, shall retain counsel reasonably satisfactory to the Indemnified Person to represent the Indemnified Person and any others Counterparty
may designate in such proceeding and shall pay the commercially reasonable and documented fees and expenses of such counsel related to
such proceeding. Counterparty shall not be liable for any settlement of any proceeding contemplated by this paragraph that is effected
without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, Counterparty agrees to
indemnify any Indemnified Person from and against any loss or liability by reason of such settlement or judgment. Counterparty shall not,
without the prior written consent of the Indemnified Person, effect any settlement of any pending or threatened proceeding contemplated
by this paragraph that is in respect of which any Indemnified Person is or could have been a party and indemnity could have been sought
hereunder by such Indemnified Person, unless such settlement includes an unconditional release of such Indemnified Person from all liability
on claims that are the subject matter of such proceeding on terms reasonably satisfactory to such Indemnified Person. Counterparty shall
not be liable for any losses, claims, damages or liabilities (or expenses thereto) of any Indemnified Person that result from bad faith,
gross negligence, willful misconduct or fraud of such Indemnified Person. If the indemnification provided for in this paragraph is unavailable
to an Indemnified Person or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then Counterparty
hereunder, in lieu of indemnifying such Indemnified Person thereunder, shall contribute to the amount paid or payable by such Indemnified
Person as a result of such losses, claims, damages or liabilities. The remedies provided for in this Section 9(b) are not exclusive and
shall not limit any rights or remedies which may otherwise be available to any Indemnified Person at law or in equity. The indemnity and
contribution agreements contained in this paragraph shall remain operative and in full force and effect regardless of the termination
of the Transaction.

 

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		(c)	Regulation M. Counterparty is not on the Trade Date engaged in a distribution, as such term
is used in Regulation M under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), of any securities
of Counterparty, other than a distribution meeting the requirements of the exception set forth in Rules 101(b)(10) and 102(b)(7) of Regulation
M. Counterparty shall not, until the second Scheduled Trading Day immediately following the Effective Date, engage in any such distribution.

 

		(d)	No Manipulation. Counterparty is not entering into the Transaction to create actual or apparent
trading activity in the Shares (or any security convertible into or exchangeable for the Shares) or to raise or depress or otherwise manipulate
the price of the Shares (or any security convertible into or exchangeable for the Shares) or otherwise in violation of the Exchange Act.

 

		(e)	Transfer or Assignment.

 

		(i)	Counterparty shall have the right to transfer or assign its rights and obligations hereunder with respect
to all, but not less than all, of the Options hereunder (such Options, the “Transfer Options”); provided that
such transfer or assignment shall be subject to reasonable conditions that Dealer may impose, including but not limited, to the following
conditions:

 

		(A)	With respect to any Transfer Options, Counterparty shall not be released from its notice and indemnification
obligations pursuant to Section 9(b) or any obligations under Section 9(n) or 9(s) of this Confirmation;

 

		(B)	Any Transfer Options shall only be transferred or assigned to a third party that is a United States person
(as defined in section 7701(a)(30) of the Internal Revenue Code of 1986, as amended) (the “Code”);

 

		(C)	Such transfer or assignment shall be effected
on terms, including any reasonable undertakings by such third party (including, but not limited to, an undertaking with respect to compliance
with applicable securities laws in a manner that, in the reasonable judgment of Dealer,
will not expose Dealer to material risks under applicable securities laws)
and execution of any documentation and delivery of legal opinions with respect to securities laws and other matters by such third party
and Counterparty, as are reasonably requested by and reasonably satisfactory to Dealer;

 

		(D)	Dealer will not, as a result of such transfer
and assignment, be required to pay the transferee on any payment date an amount under Section 2(d)(i)(4) of the Agreement greater than
an amount that Dealer would have been required to pay to Counterparty
in the absence of such transfer and assignment;

 

		(E)	No Event of Default, Potential Event of Default or Termination Event will occur as a result of such transfer
and assignment;

 

		(F)	Without limiting the generality of clause (B),
Counterparty shall cause the transferee to make such Payee Tax Representations and to provide such tax documentation as may be reasonably
requested by Dealer to permit Dealer to determine that results described
in clauses (D) and (E) will not occur upon or after such transfer and assignment; and

 

		(G)	Counterparty shall be responsible for all reasonable costs and expenses, including reasonable and documented
counsel fees, incurred by Dealer in connection with such transfer or assignment.

 

    17

     

    

 

		(ii)	Dealer may transfer or assign all or any part of its rights or obligations under the Transaction (A) without
Counterparty’s consent, to any affiliate of Dealer (1) that has a long-term issuer rating that is equal to or better than Dealer’s
credit rating at the time of such transfer or assignment, or (2) whose obligations hereunder will be guaranteed, pursuant to the terms
of a customary guarantee in a form used by Dealer generally for similar transactions, by Dealer [or Dealer’s ultimate parent] or
(B) with Counterparty’s consent (such consent not to be unreasonably withheld), to any other recognized dealer in transactions of
the same type as the Transaction with a long-term issuer rating equal to or better than the lesser of (1) the credit rating of Dealer
at the time of the transfer and (2) A- by Standard & Poor’s Financial Services LLC or its successor (“S&P”),
or A3 by Moody’s Investor Service, Inc. (“Moody’s”) or, if either S&P or Moody’s ceases to rate
such debt, at least an equivalent rating or better by a substitute rating agency mutually agreed by Counterparty and Dealer; provided,
however, Dealer may transfer or assign pursuant to this paragraph only if (A) the transferee is a “dealer in securities” within
the meaning of Section 475(c)(1) of the Code, (B) the transfer or assignment doesn’t constitute a “deemed exchange”
by Counterparty within the meaning of Section 1001 of the Code, (C) Counterparty shall be entitled to a payment, on any payment date,
that is not less than the payment Counterparty would have received in the absence of such transfer and/or assignment on account of any
deduction or withholding under Section 2(d)(i) of the Agreement, except to the extent such deduction or withholding results from a Change
in Tax Law occurring after the date of such transfer and/or assignment and (D) no Event of Default, Potential Event of Default or Termination
Event will occur as a result of such transfer and assignment. If at any time at which (A) the Section 16 Percentage exceeds 9.5%, (B)
the Option Equity Percentage exceeds 14.5%, or (C) the Share Amount exceeds the Applicable Share Limit (if any applies) (any such condition
described in clauses (A), (B) or (C), an “Excess Ownership Position”), Dealer is unable after using its commercially
reasonable efforts to effect a transfer or assignment of Options to a third party on pricing terms reasonably acceptable to Dealer and
within a time period reasonably acceptable to Dealer such that no Excess Ownership Position exists, then Dealer may designate any Exchange
Business Day as an Early Termination Date with respect to a portion of the Transaction (the “Terminated Portion”),
such that following such partial termination no Excess Ownership Position exists. In the event that Dealer so designates an Early Termination
Date with respect to a portion of the Transaction, a payment shall be made pursuant to Section 6 of the Agreement as if (1) an Early Termination
Date had been designated in respect of a Transaction having terms identical to the Transaction and a Number of Options equal to the number
of Options underlying the Terminated Portion, (2) Counterparty were the sole Affected Party with respect to such partial termination and
(3) the Terminated Portion were the sole Affected Transaction (and, for the avoidance of doubt, the provisions of Section 9(l) shall apply
to any amount that is payable by Dealer to Counterparty pursuant to this sentence as if Counterparty was not the Affected Party). The
“Section 16 Percentage” as of any day is the fraction, expressed as a percentage, (A) the numerator of which is the
number of Shares that Dealer and any of its affiliates or any other person subject to aggregation with Dealer for purposes of the “beneficial
ownership” test under Section 13 of the Exchange Act, or any “group” (within the meaning of Section 13 of the Exchange
Act) of which Dealer is or may be deemed to be a part beneficially owns (within the meaning of Section 13 of the Exchange Act), without
duplication, on such day (or, to the extent that for any reason the equivalent calculation under Section 16 of the Exchange Act and the
rules and regulations thereunder results in a higher number, such higher number) and (B) the denominator of which is the number of Shares
outstanding on such day. The “Option Equity Percentage” as of any day is the fraction, expressed as a percentage, (A)
the numerator of which is the sum of (1) the product of the Number of Options and the Option Entitlement and (2) the aggregate number
of Shares underlying any other call option transaction sold by Dealer to Counterparty, and (B) the denominator of which is the number
of Shares outstanding. The “Share Amount” as of any day is the number of Shares that Dealer and any person whose ownership
position would be aggregated with that of Dealer (Dealer or any such person, a “Dealer Person”) under any law, rule,
regulation, regulatory order or organizational documents or contracts of Counterparty that are, in each case, applicable to ownership
of Shares (“Applicable Restrictions”), owns, beneficially owns, constructively owns, controls, holds the power to vote
or otherwise meets a relevant definition of ownership under any Applicable Restriction, as determined by Dealer in its reasonable discretion.
The “Applicable Share Limit” means a number of Shares equal to (A) the minimum number of Shares that, in Dealer’s
reasonable judgment based on advice of counsel, could give rise to reporting or registration obligations (except for filings on Form 13F,
Schedule 13D or Schedule 13G, in each case, as in effect on the Trade Date) or other requirements (including obtaining prior approval
from any person or entity) of a Dealer Person, or could result in an adverse effect on a Dealer Person, under any Applicable Restriction,
as determined by Dealer in its reasonable discretion, minus (B) 0.5% of the number of Shares outstanding. Dealer shall provide
Counterparty with written notice of any transfer or assignment on the date of or as promptly as practicable after the date of such transfer
or assignment.

 

		(iii)	Notwithstanding any other provision in this Confirmation to the contrary requiring or allowing Dealer
to purchase, sell, receive or deliver any Shares or other securities, or make or receive any payment in cash, to or from Counterparty,
Dealer may designate any of its affiliates to purchase, sell, receive or deliver such Shares or other securities, or to make or receive
such payment in cash, and otherwise to perform Dealer’s obligations in respect of the Transaction and any such designee may assume
such obligations. Dealer shall be discharged of its obligations to Counterparty to the extent of any such performance.

 

		(f)	Staggered Settlement. If upon advice of counsel with respect to applicable legal and regulatory
requirements, including any requirements relating to Dealer’s commercially reasonable hedging activities hereunder, Dealer reasonably
determines, based on the advice of counsel, that it would not be practicable or advisable to deliver, or to acquire Shares to deliver,
any or all of the Shares to be delivered by Dealer on any Settlement Date for the Transaction, Dealer may, by notice to Counterparty on
or prior to any Settlement Date (a “Nominal Settlement Date”), elect to deliver the Shares on two or more dates (each,
a “Staggered Settlement Date”) as follows:

 

		(i)	in such notice, Dealer will specify to Counterparty the related Staggered Settlement Dates (the first
of which will be such Nominal Settlement Date and the last of which will be no later than the twentieth (20th) Exchange Business
Day following such Nominal Settlement Date) and the number of Shares that it will deliver on each Staggered Settlement Date;

 

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		(ii)	the aggregate number of Shares that Dealer will deliver to Counterparty hereunder on all such Staggered
Settlement Dates will equal the number of Shares that Dealer would otherwise be required to deliver on such Nominal Settlement Date; and

 

		(iii)	if the Net Share Settlement terms or the Combination Settlement terms set forth above were to apply on
the Nominal Settlement Date, then the Net Share Settlement terms or the Combination Settlement terms, as the case may be, will apply on
each Staggered Settlement Date, except that the Shares otherwise deliverable on such Nominal Settlement Date will be allocated among such
Staggered Settlement Dates as specified by Dealer in the notice referred to in clause (i) above.

 

		(g)	[Reserved.] [Insert Dealer agency or communications with employees provisions, if applicable].

 

		(h)	Conduct Rules. [To the extent that such rules are applicable to it, each] [Each] party acknowledges
and agrees to be bound by the Conduct Rules of the Financial Industry Regulatory Authority applicable to transactions in options, and
further agrees not to violate the position and exercise limits set forth therein.

 

		(i)	Additional Termination Events.

 

		(i)	Notwithstanding anything to the contrary in this Confirmation, upon any Early Conversion in respect of
which a Notice of Conversion that is effective as to Counterparty has been delivered by the relevant converting Holder:

 

		(A)	Counterparty shall, within five Scheduled Trading Days of the Conversion Date for such Early Conversion,
provide written notice (an “Early Conversion Notice”) to Dealer specifying the number of Convertible Notes surrendered
for conversion on such Conversion Date (such Convertible Notes, the “Affected Convertible Notes”);

 

		(B)	the giving of an Early Conversion Notice pursuant to subclause (A) above shall constitute an Additional
Termination Event as provided in this Section 9(i)‎(i);

 

		(C)	upon receipt of any such Early Conversion Notice, Dealer shall designate an Exchange Business Day as an
Early Termination Date (which Exchange Business Day shall be on or as promptly as reasonably practicable after the related settlement
date for the conversion of such Affected Convertible Notes) with respect to the portion of the Transaction corresponding to a number of
Options (the “Affected Number of Options”) equal to the lesser of (x) the number of Affected Convertible Notes and
(y) the Number of Options as of the Conversion Date for such Early Conversion;

 

		(D)	any payment hereunder with respect to such termination shall be calculated pursuant to Section 6 of the
Agreement as if (x) an Early Termination Date had been designated in respect of a Transaction having terms identical to the Transaction
and a Number of Options equal to the Affected Number of Options, (y) Counterparty were the sole Affected Party with respect to such Additional
Termination Event and (z) the terminated portion of the Transaction were the sole Affected Transaction; provided that the amount
payable with respect to such termination shall not be greater than (1) the Applicable Percentage, multiplied by (2) the Affected
Number of Options, multiplied by (3) (x) the sum of (i) the amount of cash paid (if any) to the Holder (as such term is defined
in the Indenture) of an Affected Convertible Note upon conversion of such Affected Convertible Note and (ii) the number of Shares delivered
(if any) to the Holder (as such term is defined in the Indenture) of an Affected Convertible Note upon conversion of such Affected Convertible
Note, multiplied by the Applicable Limit Price on the relevant date of payment, minus (y) USD 1,000;

 

    19

     

    

 

		(E)	for the avoidance of doubt,
                                            in determining the amount payable in respect of such Affected Transaction pursuant to Section
                                            6 of the Agreement, the Calculation Agent shall assume that (x) the relevant Early Conversion
                                            and any conversions, adjustments, agreements, payments, deliveries or acquisitions by or
                                            on behalf of Counterparty leading thereto had not occurred, (y) no adjustments to the Conversion
                                            Rate have occurred pursuant to any Excluded Provision and (z) the corresponding Convertible
                                            Notes remain outstanding; and

 

		(F)	the Transaction shall remain in full force and effect, except that, as of the Conversion Date for such
Early Conversion, the Number of Options shall be reduced by the Affected Number of Options.

 

		(ii)	Notwithstanding anything to the contrary in this Confirmation if an event of default with respect to Counterparty
occurs under the terms of the Convertible Notes as set forth in Section 6.01 of the Indenture and the Convertible Notes are declared due
and payable as a result thereof, then such declaration shall constitute an Additional Termination Event applicable to the Transaction
and, with respect to such Additional Termination Event, (A) Counterparty shall be deemed to be the sole Affected Party, (B) the Transaction
shall be the sole Affected Transaction and (C) Dealer shall be the party entitled to designate an Early Termination Date pursuant to Section
6(b) of the Agreement.

 

		(iii)	Notwithstanding anything to the contrary in this Confirmation, the occurrence of an Amendment Event shall
constitute an Additional Termination Event applicable to the Transaction and, with respect to such Additional Termination Event, (A) Counterparty
shall be deemed to be the sole Affected Party, (B) the Transaction shall be the sole Affected Transaction and (C) Dealer shall be the
party entitled to designate an Early Termination Date pursuant to Section 6(b) of the Agreement. “Amendment Event”
means that Counterparty amends, modifies, supplements, waives or obtains a waiver in respect of any term of the Indenture or the Convertible
Notes governing the principal amount, coupon, maturity, repurchase obligation of Counterparty, redemption right of Counterparty, any term
relating to conversion of the Convertible Notes (including changes to the conversion rate, conversion rate adjustment provisions, conversion
settlement dates or conversion conditions), or any term that would require consent of the holders of not less than 100% of the principal
amount of the Convertible Notes to amend (other than, in each case, any amendment or supplement (x) pursuant to Section 10.01(i) of the
Indenture that, as determined by the Calculation Agent, conforms the Indenture to the description of Convertible Notes in the Offering
Memorandum or (y) pursuant to Section 14.11 of the Indenture), in each case, without the consent of Dealer.

 

		(iv)	Within five Scheduled Trading Days promptly following any Repayment Event (as defined below), Counterparty
(i) shall (solely to the extent that such Repayment Event results directly from a “Fundamental Change” (as defined in the
Indenture)), and (ii) otherwise may, but shall not be obligated to, notify Dealer of such Repayment Event and the aggregate principal
amount of Convertible Notes subject to such Repayment Event (any such notice, a “Repayment Notice”); provided
that in the case of (ii) only, such Repayment Notice shall contain the representation and warranty that Counterparty is not, on the date
thereof, aware of any material non-public information with respect to Counterparty or the Shares. The receipt by Dealer from Counterparty
of any Repayment Notice, within the applicable time period set forth in the preceding sentence, shall constitute an Additional Termination
Event as provided in this paragraph, it being understood that no Repayment Event shall constitute an Additional Termination Event hereunder
unless Dealer has so received such Repayment Notice. Upon receipt of any such Repayment Notice, Dealer shall designate an Exchange Business
Day following receipt of such Repayment Notice (which in no event shall be earlier than the date on which the relevant Repayment Event
occurs or is consummated) as an Early Termination Date with respect to the portion of the Transaction corresponding to a number of Options
(the “Repayment Options”) equal to the lesser of (A) the aggregate principal amount of such Convertible Notes specified
in such Repayment Notice, divided by USD 1,000, and (B) the Number of Options as of the date
Dealer designates such Early Termination Date and, as of such date, the Number of Options shall be reduced by the number of Repayment
Options. Any payment hereunder with respect to such termination (the “Repayment Unwind Payment”) shall be calculated
pursuant to Section 6 of the Agreement as if (1) an Early Termination Date had been designated in respect of a Transaction having terms
identical to the Transaction and a Number of Options equal to the number of Repayment Options, (2) Counterparty were the sole Affected
Party with respect to such Additional Termination Event and (3) the terminated portion of the Transaction were the sole Affected Transaction.
For the avoidance of doubt, solely for purposes of calculating the amount payable pursuant to Section 6 of the Agreement pursuant to the
immediately preceding sentence, Dealer shall assume that the relevant Repayment Event (and, if applicable, the related Fundamental Change
and the announcement of such Fundamental Change) had not occurred. “Repayment Event” means that (i) any Convertible
Notes are repurchased and cancelled in accordance with the Indenture (whether in connection with or as a result of a Fundamental Change,
upon redemption or for any other reason) by Counterparty or any of its subsidiaries, (ii) any Convertible Notes are delivered to Counterparty
or any of its subsidiaries in exchange for delivery of any property or assets of such party (howsoever described), (iii) any principal
of any of the Convertible Notes is repaid prior to the final maturity date of the Convertible Notes (for any reason other than as a result
of an acceleration of the Convertible Notes that results in an Additional Termination Event pursuant to the preceding Section 9(i)(ii)),
or (iv) any Convertible Notes are exchanged by or for the benefit of the holders thereof for any other securities of Counterparty or any
of its subsidiaries (or any other property, or any combination thereof) pursuant to any exchange offer or similar transaction. For the
avoidance of doubt, any conversion of Convertible Notes (whether into cash, Shares, reference property or any combination thereof) pursuant
to the terms of the Indenture shall not constitute a Repayment Event. In addition, Counterparty acknowledges, based on advice of outside
counsel, its responsibilities under applicable securities laws, including, in particular, Sections 9 and 10(b) of the Exchange Act and
the rules and regulations thereunder in respect of the Repayment Event, including, without limitation, the delivery of a Repayment Notice
hereunder.

 

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		(j)	Amendments to Equity Definitions.

 

		(i)	Section 11.2(e)(vii) of the Equity Definitions is hereby amended by deleting the words “a diluting
or concentrative” and replacing them with the words “a material” and adding the phrase “or the Options”
at the end of the sentence.

 

		(ii)	Section 12.6(a)(ii) of the Equity Definitions is hereby amended by (1) inserting “(1)” immediately
following the word “means” in the first line thereof and (2) inserting immediately prior to the semi-colon at the end of subsection
(B) thereof the following words: “or (2) the occurrence of any of the events specified in Section 5(a)(vii)(1) through (9) of the
ISDA Master Agreement with respect to that Issuer”.

 

		(iii)	Section 12.9(b)(i) of the Equity Definitions is hereby amended by (1) replacing “either party may
elect” with “Dealer may elect” and (2) replacing “notice to the other party” with “notice to Counterparty”
in the first sentence of such section.

 

		(iv)	Section 12(a) of the Agreement is hereby amended by (1) deleting the phrase “or email” in
the third line thereof and (2) deleting the phrase “or that communication is delivered (or attempted) or received, as applicable,
after the close of business on a Local Business Day” in the final clause thereof.

 

		(k)	Setoff. Notwithstanding any provision of the Agreement and this Confirmation (including
without limitation this Section 9(k)) or any other agreement between the parties to the contrary, each party waives any and all rights
it may have to set off obligations arising under the Agreement and the Transaction against other obligations between the parties, whether
arising under any other agreement, applicable law or otherwise.

 

		(l)	Alternative Calculations and Payment on Early Termination and on Certain Extraordinary Events.
If (a) an Early Termination Date (whether as a result of an Event of Default or a Termination Event) occurs or is designated with respect
to the Transaction or (b) the Transaction is cancelled or terminated upon the occurrence of an Extraordinary Event (except as a result
of (i) a Nationalization, Insolvency or Merger Event in which the consideration to be paid to all holders of Shares consists solely of
cash, (ii) an Announcement Event, Merger Event or Tender Offer that is within Counterparty’s control, or (iii) an Event of Default
in which Counterparty is the Defaulting Party or a Termination Event in which Counterparty is the sole Affected Party other than an Event
of Default of the type described in Section 5(a)(iii), (v), (vi), (vii) or (viii) of the Agreement or a Termination Event of the type
described in Section 5(b) of the Agreement, in each case that resulted from an event or events outside Counterparty’s control),
and if Dealer would owe any amount to Counterparty pursuant to Section 6(d)(ii) of the Agreement or any Cancellation Amount pursuant to
Article 12 of the Equity Definitions (any such amount, a “Payment Obligation”), then Dealer shall satisfy the Payment
Obligation by the Share Termination Alternative (as defined below), unless (a) Counterparty gives irrevocable telephonic notice to
Dealer, confirmed in writing within one Scheduled Trading Day, no later than 5:00 p.m. (New York City time) on the date of the Announcement
Event, Merger Date, Tender Offer Date, Announcement Date (in the case of a Nationalization, Insolvency or Delisting), Early Termination
Date or date of cancellation, as applicable, of its election that the Share Termination Alternative shall not apply, (b) Counterparty
remakes the representation set forth in Section 8(f) as of the date of such election and (c) Dealer agrees, in its sole discretion, to
such election, in which case the provisions of Section 12.7 or Section 12.9 of the Equity Definitions, or the provisions of Section 6(d)(ii)
of the Agreement, as the case may be, shall apply.

 

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	 	Share Termination Alternative:	 	If applicable, Dealer shall deliver to Counterparty the Share Termination Delivery Property on, or within a commercially reasonable period of time after, the date when the relevant Payment Obligation would otherwise be due pursuant to Section 12.7 or 12.9 of the Equity Definitions or Section 6(d)(ii) and 6(e) of the Agreement, as applicable, in satisfaction of such Payment Obligation in the manner reasonably requested by Counterparty free of payment.
	 	 	 	 
	 	Share Termination Delivery
    Property:	 	A number of Share Termination Delivery Units, as calculated by the Calculation Agent, equal to the Payment Obligation divided by the Share Termination Unit Price. The Calculation Agent shall adjust the Share Termination Delivery Property by replacing any fractional portion of a security therein with an amount of cash equal to the value of such fractional security based on the values used to calculate the Share Termination Unit Price.
	 	 	 	 
	 	Share Termination Delivery Unit:	 	One Share or, if the Shares have changed into cash or any other property or the right to receive cash or any other property as the result of a Nationalization, Insolvency or Merger Event (any such cash or other property, the “Exchange Property”), a unit consisting of the type and amount of such Exchange Property received by a holder of one Share (without consideration of any requirement to pay cash or other consideration in lieu of fractional amounts of any securities) in such Nationalization, Insolvency or Merger Event, as determined by the Calculation Agent.
	 	 	 	 
	 	Share Termination Unit Price:	 	The value to Dealer of property contained in one Share Termination Delivery Unit, as determined by the Calculation Agent in its discretion by commercially reasonable means and notified by the Calculation Agent to Dealer at the time of notification of the Payment Obligation. For the avoidance of doubt, the parties agree that in determining the Share Termination Delivery Unit Price the Calculation Agent may consider the purchase price paid in connection with the purchase of Share Termination Delivery Property that was purchased in connection with the delivery of the Share Termination Delivery Units.
	 	 	 	 
	 	Failure to Deliver:	 	Applicable
	 	 	 	 
	 	Other applicable provisions:	 	If Share Termination Alternative is applicable, the provisions of Sections 9.8, 9.9 and 9.11 (as modified above) of the Equity Definitions and the provisions set forth opposite the caption “Representation and Agreement” in Section 2 will be applicable, except that all references in such provisions to “Physically-settled” shall be read as references to “Share Termination Settled” and all references to “Shares” shall be read as references to “Share Termination Delivery Units”. “Share Termination Settled” in relation to the Transaction means that Share Termination Alternative is applicable to the Transaction.

 

		(m)	Waiver of Jury Trial. Each party waives, to the fullest extent permitted by applicable law,
any right it may have to a trial by jury in respect of any suit, action or proceeding relating to the Transaction. Each party (i) certifies
that no representative, agent or attorney of either party has represented, expressly or otherwise, that such other party would not, in
the event of such a suit, action or proceeding, seek to enforce the foregoing waiver and (ii) acknowledges that it and the other party
have been induced to enter into the Transaction, as applicable, by, among other things, the mutual waivers and certifications provided
herein.

 

		(n)	Registration. Counterparty hereby agrees that if, in the good faith reasonable judgment
of Dealer, based on the advice of counsel, the Shares acquired and held by Dealer for the purpose of effecting a commercially reasonable
hedge of its obligations pursuant to the Transaction (“Hedge Shares”) cannot be sold in the public market by Dealer
without registration under the Securities Act (other than any such Hedge Shares that were, at the time of acquisition by Dealer, “restricted
securities” (as defined in Rule 144 under the Securities Act)), Counterparty shall, at its election, either (i) in order to allow
Dealer to sell the Hedge Shares in a registered offering, make available to Dealer an effective registration statement under the Securities
Act as soon as reasonably practicable after requested by the Dealer and enter into an agreement, in form and substance reasonably satisfactory
to Dealer, substantially in the form of an underwriting agreement for a registered secondary offering of substantially similar size and
in a similar industry; provided, however, that if Dealer, in its reasonable discretion, is not satisfied with access to
due diligence materials, the results of its due diligence investigation, or the procedures and documentation for the registered offering
referred to above, then clause (ii) or clause (iii) of this paragraph shall apply at the election of Counterparty, (ii) in order to allow
Dealer to sell the Hedge Shares in a private placement, enter into a private placement agreement substantially similar to private placement
purchase agreements customary for private placements of equity securities of similar size and industry, in form and substance reasonably
satisfactory to Dealer (in which case, the Calculation Agent shall make any adjustments to the terms of the Transaction that are necessary,
in its reasonable judgment, to compensate Dealer for any commercially reasonable discount from the public market price of the Shares incurred
on the sale of Hedge Shares in a private placement), or (iii) purchase the Hedge Shares from Dealer at the then-current market price on
such Exchange Business Days, and in the amounts and at such time(s), requested by Dealer.

 

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		(o)	Tax Disclosure. Effective from the date of commencement of discussions concerning the Transaction,
Counterparty and each of its employees, representatives, or other agents may disclose to any and all persons, without limitation of any
kind, the tax treatment and tax structure of the Transaction and all materials of any kind (including opinions or other tax analyses)
that are provided to Counterparty relating to such tax treatment and tax structure.

 

		(p)	Right to Extend. Dealer may postpone or add, in a commercially reasonable manner, in whole
or in part, any Valid Day or Valid Days during the Settlement Averaging Period or any other date of valuation, payment or delivery by
Dealer, with respect to some or all of the Options hereunder, to the extent Dealer reasonably determines (and in the case of clause (ii)
below, based on the advice of counsel), that such action is reasonably necessary or appropriate (i) to preserve Dealer’s commercially
reasonable hedging or hedge unwind activity hereunder in light of existing liquidity conditions (but only if there is a material decrease
in liquidity relative to Dealer’s expectations on the Trade Date) or (ii) to enable Dealer to effect purchases of Shares in connection
with its commercially reasonable hedging, hedge unwind or settlement activity hereunder in a manner that would, if Dealer were Counterparty
or an affiliated purchaser of Counterparty, be in compliance with applicable legal, regulatory or self-regulatory requirements, or with
related policies and procedures applicable to Dealer (so long as such policies or procedures are consistently applied to transactions
similar to the Transaction); provided that no such Valid Day or other date of valuation, payment or delivery may be postponed or
added more than 60 Valid Days after the original Valid Day or other date of valuation, payment or delivery, as the case may be.

 

		(q)	Status of Claims in Bankruptcy. Dealer acknowledges and agrees that this Confirmation is
not intended to convey to Dealer rights against Counterparty with respect to the Transaction that are senior to the claims of common stockholders
of Counterparty in any United States bankruptcy proceedings of Counterparty; provided that nothing herein shall limit or shall
be deemed to limit Dealer’s right to pursue remedies in the event of a breach by Counterparty of its obligations and agreements
with respect to the Transaction; provided further that nothing herein shall limit or shall be deemed to limit Dealer’s rights
in respect of any transactions other than the Transaction.

 

		(r)	Securities Contract; Swap Agreement. The parties hereto intend for (i) the Transaction to
be a “securities contract” and a “swap agreement” as defined in the Bankruptcy Code (Title 11 of the United States
Code) (the “Bankruptcy Code”), and the parties hereto to be entitled to the protections afforded by, among other Sections,
Sections 362(b)(6), 362(b)(17), 546(e), 546(g), 555 and 560 of the Bankruptcy Code, (ii) a party’s right to liquidate the Transaction
and to exercise any other remedies upon the occurrence of any Event of Default under the Agreement with respect to the other party to
constitute a “contractual right” as described in the Bankruptcy Code, and (iii) each payment and delivery of cash, securities
or other property hereunder to constitute a “margin payment” or “settlement payment” and a “transfer”
as defined in the Bankruptcy Code.

 

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		(s)	Notice of Certain Other Events. Counterparty covenants and agrees that:

 

		(i)	promptly following the public announcement of the results of any election by the holders of Shares with
respect to the consideration due upon consummation of any Merger Event, Counterparty shall give Dealer written notice of the types and
amounts of consideration actually received by holders of Shares pursuant to such Merger Event (the date of such notification, the “Consideration
Notification Date”); provided that in no event shall the Consideration Notification Date be later than the date on which
such Merger Event is consummated; and

 

		(ii)	(A) Counterparty shall give Dealer commercially reasonable advance (but in no event less than one Exchange
Business Day) written notice of the section or sections of the Indenture and, if applicable, the formula therein, pursuant to which any
adjustment will be made to the Convertible Notes in connection with any Potential Adjustment Event, Merger Event or Tender Offer and (B)
promptly following any such adjustment, Counterparty shall give Dealer written notice of the details of such adjustment.

 

		(t)	Wall Street Transparency and Accountability Act. In connection with Section 739 of the Wall
Street Transparency and Accountability Act of 2010 (“WSTAA”), the parties hereby agree that neither the enactment of
WSTAA or any regulation under the WSTAA, nor any requirement under WSTAA or an amendment made by WSTAA, shall limit or otherwise impair
either party’s otherwise applicable rights to terminate, renegotiate, modify, amend or supplement this Confirmation or the Agreement,
as applicable, arising from a termination event, force majeure, illegality, increased costs, regulatory change or similar event under
this Confirmation, the Equity Definitions incorporated herein, or the Agreement (including, but not limited to, rights arising from Change
in Law, Hedging Disruption, Increased Cost of Hedging, an Excess Ownership Position, or Illegality (as defined in the Agreement)).

 

		(u)	Agreements and Acknowledgements Regarding Hedging. Counterparty understands, acknowledges
and agrees that: (A) at any time on and prior to the Expiration Date, Dealer and its affiliates may buy or sell Shares or other securities
or buy or sell options or futures contracts or enter into swaps or other derivative securities in order to adjust its hedge position with
respect to the Transaction; (B) Dealer and its affiliates also may be active in the market for Shares other than in connection with hedging
activities in relation to the Transaction; (C) Dealer shall make its own determination as to whether, when or in what manner any hedging
or market activities in securities of Issuer shall be conducted and shall do so in a manner that it deems appropriate to hedge its price
and market risk with respect to the Relevant Prices; and (D) any market activities of Dealer and its affiliates with respect to Shares
may affect the market price and volatility of Shares, as well as the Relevant Prices, each in a manner that may be adverse to Counterparty.

 

		(v)	Early Unwind. In the event the sale of the “Firm Notes” (as defined in the Purchase
Agreement) is not consummated with the Initial Purchaser for any reason, or Counterparty fails to deliver to Dealer opinions of counsel
as required pursuant to Section 9(a), in each case by 5:00 p.m. (New York City time) on the Premium Payment Date, or such later date as
agreed upon by the parties (the Premium Payment Date or such later date, the “Early Unwind Date”), the Transaction
shall automatically terminate (the “Early Unwind”) on the Early Unwind Date and (i) the Transaction and all of the
respective rights and obligations of Dealer and Counterparty under the Transaction shall be cancelled and terminated and (ii) each party
shall be released and discharged by the other party from and agrees not to make any claim against the other party with respect to any
obligations or liabilities of the other party arising out of and to be performed in connection with the Transaction either prior to or
after the Early Unwind Date. Each of Dealer and Counterparty represents and acknowledges to the other that upon an Early Unwind, all obligations
with respect to the Transaction shall be deemed fully and finally discharged.

 

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		(w)	Tax Matters.

 

(i) Withholding
Tax imposed on payments to non-U.S. counterparties under the United States Foreign Account Tax Compliance Act. The parties hereto
agree that for the Transaction the terms “Tax” and “Indemnifiable Tax” as defined in Section 14 of the Agreement,
shall not include any U.S. federal withholding tax imposed or collected pursuant to Section 1471 through 1474 of the Code, any current
or future regulations or official interpretations thereof, any agreement entered into pursuant to Section 1471(b) of the Code, or any
fiscal or regulatory legislation, rules or practices adopted pursuant to any intergovernmental agreement entered into in connection with
the implementation of such Sections of the Code (a “FATCA Withholding Tax”). For the avoidance of doubt, a FATCA Withholding
Tax is a Tax the deduction or withholding of which is required by applicable law for the purposes of Section 2(d) of the Agreement.

 

(ii) Tax Documentation.
For purposes of Section 4(a) of the Agreement, (i) Counterparty agrees to deliver to Dealer one duly executed and completed United States
Internal Revenue Service Form W-9 (or successor thereto) and (ii) Dealer agrees to deliver to Counterparty one duly executed and completed
Internal Revenue Service Form [W-9] (or successor thereto), in each case, (A) on or before the date of execution of this Confirmation
and (B) promptly upon learning that any such tax form previously provided by it has expired or become obsolete or incorrect. Additionally,
each party shall, promptly upon request by the other party, provide such other tax forms and documents reasonably requested by the other
party.

 

(iii) Payee Tax
Representations. For purposes of Section 3(f) of the Agreement, (i) Counterparty is a corporation for U.S. federal income tax
purposes and is organized under the laws of the State of Delaware. Counterparty is a “U.S. person” (as that term is used in
section 1.1441-4(a)(3)(ii) of United States Treasury Regulations) for U.S. federal income tax purposes and an exempt recipient under Treasury
Regulation Section 1.6049-4(c)(1)(ii), and (ii) Dealer is a [“U.S. person” (as that term is used in section 1.1441-4(a)(3)(ii)
of United States Treasury Regulations) for U.S. federal income tax purposes and an exempt recipient under Treasury Regulation Section
1.6049-4(c)(1)(ii)]. Each party agrees to give notice to the other party of any failure of a representation made by it under this Section
9(w)(iii) to be accurate and true promptly upon learning of such failure.

 

(iv) HIRE Act
Protocols. [The parties hereto agree that the definitions and provisions contained in the (x) Attachment to the 2010 Short Form
HIRE Act Protocol and (y) 2015 Section 871(m) Protocol, in each case as published by the International Swaps and Derivatives Association,
Inc. and as may be amended, supplemented, replaced or superseded from time to time, are incorporated into and apply to the Agreement as
if set forth in full herein as of the Effective Date.]

 

		(x)	Payment by Counterparty. In the event that, following payment of the Premium, (i) an Early
Termination Date occurs or is designated with respect to the Transaction as a result of a Termination Event or an Event of Default (other
than an Event of Default arising under Section 5(a)(ii) or 5(a)(iv) of the Agreement) and, as a result, Counterparty owes to Dealer an
amount calculated under Section 6(e) of the Agreement, or (ii) Counterparty owes to Dealer, pursuant to Section 12.7 or Section 12.9 of
the Equity Definitions, an amount calculated under Section 12.8 of the Equity Definitions, such amount shall be deemed to be zero.

 

		(y)	Other Adjustments Pursuant to the Equity Definitions. Notwithstanding anything to the contrary
in the Agreement, the Equity Definitions or this Confirmation, upon the occurrence of a Merger Date, the occurrence of a Tender Offer
Date, or declaration by Counterparty of the terms of any Potential Adjustment Event, the Calculation Agent shall determine in good faith
and in a commercially reasonable manner whether such occurrence or declaration, as applicable, has had a material economic effect on the
Transaction, and if so, shall, in its good faith and commercially reasonable discretion, adjust the Cap Price to account for the economic
effect on the Transaction of such occurrence or declaration (provided that in no event shall the Cap Price be less than the Strike
Price; provided further that any adjustment to the Cap Price made pursuant to this section shall be made without duplication of
any other adjustment hereunder). Solely for purposes of this Section 9(y), (x) the terms “Potential Adjustment Event,”
“Merger Event,” and “Tender Offer” shall each have the meanings assigned to each such term in the Equity Definitions
(in the case of the definition of “Potential Adjustment Event”, as amended by Section 9(j)(i), and in the case of the definition
of “Tender Offer”, as amended by the provisions opposite the caption “Announcement Event” in Section 3) and (y)“Extraordinary
Dividend” means any cash dividend on the Shares.

 

    25

     

    

 

		(z)	[2018 ISDA U.S. Resolution Stay Protocol. The parties agree that (i) to the extent that
prior to the date hereof both parties have adhered to the 2018 ISDA U.S. Resolution Stay Protocol (the “Protocol”), the terms
of the Protocol are incorporated into and form a part of the Agreement, and for such purposes the Agreement shall be deemed a Protocol
Covered Agreement and each party shall be deemed to have the same status as Regulated Entity and/or Adhering Party as applicable to it
under the Protocol; (ii) to the extent that prior to the date hereof the parties have executed a separate agreement the effect of which
is to amend the qualified financial contracts between them to conform with the requirements of the QFC Stay Rules (the “Bilateral
Agreement”), the terms of the Bilateral Agreement are incorporated into and form a part of the Agreement and each party shall
be deemed to have the status of “Covered Entity” or “Counterparty Entity” (or other similar term) as applicable
to it under the Bilateral Agreement; or (iii) if clause (i) and clause (ii) do not apply, the terms of Section 1 and Section 2 and the
related defined terms (together, the “Bilateral Terms”) of the form of bilateral template entitled “Full-Length
Omnibus (for use between U.S. G-SIBs and Corporate Groups)” published by ISDA on November 2, 2018 (currently available on the 2018
ISDA U.S. Resolution Stay Protocol page at www.isda.org and, a copy of which is available upon request), the effect of which
is to amend the qualified financial contracts between the parties thereto to conform with the requirements of the QFC Stay Rules, are
hereby incorporated into and form a part of the Agreement, and for such purposes the Agreement shall be deemed a “Covered Agreement,”
Dealer shall be deemed a “Covered Entity” and Counterparty shall be deemed a “Counterparty Entity.” In the event
that, after the date of the Agreement, both parties hereto become adhering parties to the Protocol, the terms of the Protocol will replace
the terms of this paragraph. In the event of any inconsistencies between the Agreement and the terms of the Protocol, the Bilateral Agreement
or the Bilateral Terms (each, the “QFC Stay Terms”), as applicable, the QFC Stay Terms will govern. Terms used in this
paragraph without definition shall have the meanings assigned to them under the QFC Stay Rules. For purposes of this paragraph, references
to “the Agreement” include any related credit enhancements entered into between the parties or provided by one to the other.
“QFC Stay Rules” means the regulations codified at 12 C.F.R. 252.2, 252.81–8, 12 C.F.R. 382.1-7 and 12 C.F.R.
47.1-8, which, subject to limited exceptions, require an express recognition of the stay-and-transfer powers of the FDIC under the Federal
Deposit Insurance Act and the Orderly Liquidation Authority under Title II of the Dodd Frank Wall Street Reform and Consumer Protection
Act and the override of default rights related directly or indirectly to the entry of an affiliate into certain insolvency proceedings
and any restrictions on the transfer of any covered affiliate credit enhancements.]

 

		(aa)	CARES Act. Counterparty acknowledges that the Transaction may constitute a purchase of its
equity securities or a capital distribution. Counterparty further acknowledges that, pursuant to the provisions of the Coronavirus Aid,
Relief and Economic Security Act (the “CARES Act”), Counterparty will be required to agree to certain time-bound restrictions
on its ability to purchase its equity securities or make capital distributions if it receives loans, loan guarantees or direct loans (as
that term is defined in the CARES Act) under section 4003(b) of the CARES Act. Counterparty further acknowledges that it may be required
to agree to certain time-bound restrictions on its ability to purchase its equity securities or make capital distributions if it receives
loans, loan guarantees or direct loans (as that term is defined in the CARES Act) under programs or facilities established by the Board
of Governors of the Federal Reserve System, the U.S. Department of Treasury or similar governmental entity for the purpose of providing
liquidity to the financial system. Accordingly, Counterparty represents and warrants that neither it, nor any of its subsidiaries have
applied, and have no present intention to apply, for a loan, loan guarantee, direct loan (as that term is defined in the CARES
Act) or other investment, or to receive any financial assistance or relief (howsoever defined) under any program or facility that (a)
is established under applicable law (whether in existence as of the Trade Date or subsequently enacted, adopted or amended), including
without limitation the CARES Act and the Federal Reserve Act, as amended, and (b) requires under applicable law (or any regulation, guidance,
interpretation or other pronouncement thereunder), as a condition of such loan, loan guarantee, direct loan (as that term is defined in
the CARES Act), investment, financial assistance or relief, that Counterparty comply with any requirement to, or otherwise agree, attest,
certify or warrant that it has not, as of the date specified in such condition, repurchased, or will not repurchase, any equity security
of Counterparty; provided that Counterparty may apply for any such governmental assistance if Counterparty determines
based on the advice of nationally recognized outside counsel that the terms of the Transaction would not cause Counterparty to fail to
satisfy any condition for application for or receipt or retention of such governmental assistance based on the terms of the relevant program
or facility as of the date of such advice. Counterparty further represents and warrants that the Premium is not being paid, in whole or
in part, directly or indirectly, with funds received under or pursuant to any program or facility, including the U.S. Small Business Administration’s
“Paycheck Protection Program”, that (a) is established under applicable law, including without limitation the CARES Act and
the Federal Reserve Act, as amended, and (b) requires under such applicable law (or any regulation, guidance, interpretation or other
pronouncement of a governmental authority with jurisdiction for such program or facility) that such funds be used for specified or enumerated
purposes that do not include the purchase of the Transaction (either by specific reference to the Transaction or by general reference
to transactions with the attributes of the Transaction in all relevant respects).

 

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Please confirm that the foregoing
correctly sets forth the terms of the agreement between Dealer and Counterparty with respect to the Transaction, by manually signing this
Confirmation or this page hereof as evidence of agreement to such terms and providing the other information requested herein and returning
an executed copy to Dealer.

 

	 	Very truly yours,
	 	 
	 	[Dealer]
	 	 
	 	By:	              
	 	Authorized Signatory
	 	Name:	 

 

	Accepted and confirmed	 
	as of the Trade Date:	 
	 	 
	Envestnet, Inc.	 
	 	 
	By:	              	 
	Authorized Signatory	 
	Name:		 

 

     

     

    

 

Execution Version

 

[DEALER]

 

	 	 	November 15, 2022
	To:	Envestnet, Inc.	
	 	1000 Chesterbrook Boulevard, Suite 250	
	 	Berwyn, Pennsylvania 19312	
	 	 	
	 	Attention:	 [            ]	
	 	Telephone No.:	 [            ]	
	 	Facsimile No.: 	[            ]	

 

	Re:	Additional Call Option Transaction

 

The purpose of this letter
agreement (this “Confirmation”) is to confirm the terms and conditions of the call option transaction entered into
between [DEALER] (“Dealer”) and Envestnet, Inc. (“Counterparty”) as of the Trade Date specified
below (the “Transaction”). This letter agreement constitutes a “Confirmation” as referred to in the ISDA
Master Agreement specified below. Each party further agrees that this Confirmation together with the Agreement evidence a complete binding
agreement between Counterparty and Dealer as to the subject matter and terms of the Transaction to which this Confirmation relates, and
shall supersede all prior or contemporaneous written or oral communications with respect thereto.

 

The definitions and provisions
contained in the 2002 ISDA Equity Derivatives Definitions (the “Equity Definitions”), as published by the International
Swaps and Derivatives Association, Inc. (“ISDA”) are incorporated into this Confirmation. In the event of any inconsistency
between the Equity Definitions and this Confirmation, this Confirmation shall govern. Certain defined terms used herein are based on terms
that are defined in the Offering Memorandum dated November 14, 2022 (the “Offering Memorandum”) relating to the 2.625%
Convertible Notes due 2027 (as originally issued by Counterparty, the “Convertible Notes” and each USD 1,000 principal
amount of Convertible Notes, a “Convertible Note”) issued by Counterparty in an aggregate initial principal amount
of USD 500,000,000 (as increased by an aggregate principal amount of USD 75,000,000 pursuant to the exercise by the Initial Purchasers
(as defined herein) of their option to purchase additional Convertible Notes pursuant to the Purchase Agreement (as defined herein)) pursuant
to an Indenture to be dated November 17, 2022 among Counterparty, as issuer, Envestnet Asset Management, Inc., as guarantor, and U.S.
Bank Trust Company, National Association, as trustee (the “Indenture”). In the event of any inconsistency between the
terms defined in the Offering Memorandum, the Indenture and this Confirmation, this Confirmation shall govern. The parties acknowledge
that this Confirmation is entered into on the date hereof with the understanding that (i) definitions set forth in the Indenture that
are also defined herein by reference to the Indenture and (ii) sections of the Indenture that are referred to herein will conform to the
descriptions thereof in the Offering Memorandum. If any such definitions in the Indenture or any such sections of the Indenture differ
from the descriptions thereof in the Offering Memorandum, the descriptions thereof in the Offering Memorandum will govern for purposes
of this Confirmation. The parties further acknowledge that the Indenture section numbers and cross-references used herein are based on
the draft of the Indenture last reviewed by Dealer as of the date of this Confirmation, and if any such section numbers or cross-references
are changed in the Indenture as executed, the parties will amend this Confirmation in good faith to preserve the intent of the parties.
Subject to the foregoing, references to the Indenture herein are references to the Indenture as in effect on the date of its execution,
and if the Indenture is amended or supplemented following such date (other than any amendment or supplement (x) pursuant to Section 10.01(i)
of the Indenture that, as determined by the Calculation Agent, conforms the Indenture to the description of Convertible Notes in the Offering
Memorandum or (y) pursuant to Section 14.11 of the Indenture, subject, in the case of this clause (y), to the second paragraph under “Method
of Adjustment” in Section 3), any such amendment or supplement will be disregarded for purposes of this Confirmation (other than
as provided in Section 9(i)(iii) below) unless the parties agree otherwise in writing.

 

Each party is hereby advised,
and each such party acknowledges, that the other party has engaged in, or refrained from engaging in, substantial financial transactions
and has taken other material actions in reliance upon the parties’ entry into the Transaction to which this Confirmation relates
on the terms and conditions set forth below.

 

1.   This
Confirmation evidences a complete and binding agreement between Dealer and Counterparty as to the terms of the Transaction to which this
Confirmation relates. This Confirmation shall supplement, form a part of, and be subject to an agreement in the form of the 2002 ISDA
Master Agreement (the “Agreement”) as if Dealer and Counterparty had executed an agreement in such form (but without
any Schedule except for (i) the election of the laws of the State of New York as the governing law (without reference to choice of law
doctrine other than Sections 5-1401 and 5-1402 of the General Obligations Law)) on the Trade Date; (ii) the election of US Dollars as
the Termination Currency; and (iii) the election that the “Cross Default” provisions of Section 5(a)(vi) of the Agreement
shall apply to Dealer with a “Threshold Amount” of three percent of Dealer’s [ultimate parent’s] shareholders’
equity; provided that (A) “Specified Indebtedness” shall not include obligations in respect of deposits received in
the ordinary course of Dealer’s banking business and (B) the phrase “or becoming capable at such time of being declared”
shall be deleted from clause (1) of such Section 5(a)(vi)).

 

     

     

    

 

In the event of any inconsistency
between provisions of the Agreement and this Confirmation, this Confirmation will prevail for the purpose of the Transaction to which
this Confirmation relates. The parties hereby agree that no transaction other than the Transaction to which this Confirmation relates
shall be governed by the Agreement.

 

2.   The
terms of the particular Transaction to which this Confirmation relates are as follows:

 

General Terms. 

 

	 	Trade Date:	November 15, 2022
	 	 	 
	 	Effective Date:	The Trade Date
	 	 	 
	 	Option Style:	“Modified American”, as described under “Procedures for Exercise” below
	 	 	 
	 	Option Type: 	Call
	 	 	 
	 	Buyer:	Counterparty
	 	 	 
	 	Seller:	Dealer
	 	 	 
	 	Shares:	The common stock of Counterparty, par value USD 0.005 per share (Exchange symbol “ENV”).
	 	 	 
	 	Number of Options:	75,000. For the avoidance of doubt, the Number of Options shall be reduced by any Options exercised by Counterparty. In no event will the Number of Options be less than zero.
	 	 	 
	 	Applicable Percentage:	25%
	 	 	 
	 	Option Entitlement:	A number equal to the product of the Applicable Percentage and 13.6304.
	 	 	 
	 	Strike Price:	USD 73.3654
	 	 	 
	 	Cap Price:	USD 110.7400
	 	 	 
	 	Premium:	USD 2,589,375
	 	 	 
	 	Premium Payment Date:	November 17, 2022
	 	 	 
	 	Exchange:	The New York Stock Exchange
	 	 	 
	 	Related Exchange(s):	All Exchanges
	 	 	 
	 	Excluded Provisions:	Section 14.06(j) and Section 14.02 of the Indenture.

 

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Procedures for Exercise.

 

	 	Conversion Date:	With respect to any conversion of a Convertible Note (other than any conversion of Convertible Notes with a Conversion Date occurring prior to the Final Settlement Method Election Date (any such conversion, an “Early Conversion”), to which the provisions of Section 9(i)(i) of this Confirmation shall apply), the date on which the Holder (as such term is defined in the Indenture) of such Convertible Note satisfies all of the requirements for conversion thereof as set forth in Section 14.03 of the Indenture.
	 	 	 
	 	Final Settlement Method Election Date:	The 65th Scheduled Valid Day prior to December 1, 2027
	 	 	 
	 	Expiration Time:	The Valuation Time
	 	 	 
	 	Expiration Date:	December 1, 2027, subject to earlier exercise.
	 	 	 
	 	Multiple Exercise:	Applicable, as described under “Automatic Exercise” below.
	 	 	 
	 	Automatic Exercise:	Notwithstanding Section 3.4 of the Equity Definitions, on each Conversion Date occurring on or after the Final Settlement Method Election Date, in respect of which a Notice of Conversion that is effective as to Counterparty has been delivered by the relevant converting Holder, a number of Options equal to (i) the number of Convertible Notes in denominations of USD 1,000 as to which such Conversion Date has occurred minus (ii) the number of Options that are or are deemed to be automatically exercised on such Conversion Date under the Base Call Option Transaction Confirmation letter agreement dated November 14, 2022 between Dealer and Counterparty (the “Base Call Option Confirmation”) (and for the purposes of determining whether any Options under this Confirmation or under the Base Call Option Confirmation will be automatically exercised hereunder or under the Base Call Option Confirmation, the Convertible Notes subject to conversion shall be allocated first to the Base Call Option Confirmation until all Options thereunder are exercised or terminated), shall be deemed to be automatically exercised; provided that such Options shall be exercised or deemed exercised only if Counterparty has provided a Notice of Exercise to Dealer in accordance with “Notice of Exercise” below.
	 	 	 
	 	 	Notwithstanding the foregoing, in no event shall the number of Options that are exercised or deemed exercised hereunder exceed the Number of Options.

 

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	 	Notice of Exercise:	Notwithstanding anything to the contrary in the Equity Definitions or under “Automatic Exercise” above, in order to exercise any Options relating to Convertible Notes with a Conversion Date occurring on or after the Final Settlement Method Election Date, Counterparty must notify Dealer in writing before 5:00 p.m. (New York City time) on the Scheduled Valid Day immediately preceding the Expiration Date specifying the number of such Options; provided that if the Relevant Settlement Method for such Options is (x) Net Share Settlement and the Specified Cash Amount (as defined below) is not USD 1,000, (y) Cash Settlement or (z) Combination Settlement, Dealer shall have received a separate notice (the “Notice of Final Settlement Method”) in respect of all such Convertible Notes before 5:00 p.m. (New York City time) on the Final Settlement Method Election Date specifying (1) the Relevant Settlement Method for such Options, and (2) if the settlement method for the related Convertible Notes is not Settlement in Shares or Settlement in Cash (each as defined below), the fixed amount of cash per Convertible Note that Counterparty has elected to deliver to Holders (as such term is defined in the Indenture) of the related Convertible Notes (the “Specified Cash Amount”). Notwithstanding anything to the contrary herein, if Counterparty does not timely deliver the Notice of Final Settlement Method then the Notice of Final Settlement Method shall be deemed timely given and the Settlement Method specified therein shall be deemed to be Net Share Settlement with a “Specified Dollar Amount” (as defined in the Indenture) of USD 1,000. Counterparty acknowledges its responsibilities under applicable securities laws, and in particular Section 9 and Section 10(b) of the Exchange Act (as defined below) and the rules and regulations thereunder, in respect of any election (or any deemed election) of a settlement method with respect to the Convertible Notes.
	 	 	 
	 	Valuation Time:	At the close of trading of the regular trading session on the Exchange; provided that if the principal trading session is extended, the Calculation Agent shall determine the Valuation Time in its commercially reasonable discretion.
	 	 	 
	 	Market Disruption Event:	A “Market Disruption Event” as defined in the Indenture.
	 	 	 
	 	Settlement Terms.	 
	 	 	 
	 	Settlement Method:	For any Option, Net Share Settlement; provided that if the Relevant Settlement Method set forth below for such Option is not Net Share Settlement, then the Settlement Method for such Option shall be such Relevant Settlement Method, but only if Counterparty shall have notified Dealer of the Relevant Settlement Method in the Notice of Final Settlement Method for such Option.
	 	 	 
	 	Relevant
    Settlement Method:	In respect of any Option:
	 	 	 
	 	 	(i) if Counterparty has elected to settle its conversion obligations in respect of the related Convertible Note (A) entirely in Shares pursuant to Section 14.04(a)(v)(A) of the Indenture (together with cash in lieu of fractional Shares) (such settlement method, “Settlement in Shares”), (B) in a combination of cash and Shares pursuant to Section 14.04(a)(v)(C) of the Indenture with a Specified Cash Amount less than USD 1,000 or (C) in a combination of cash and Shares pursuant to Section 14.04(a)(v)(C) of the Indenture with a Specified Cash Amount equal to USD 1,000, then, in each case, the Relevant Settlement Method for such Option shall be Net Share Settlement;

 

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	 	 	(ii) if Counterparty has elected to settle its conversion obligations in respect of the related Convertible Note in a combination of cash and Shares pursuant to Section 14.04(a)(v)(C) of the Indenture with a Specified Cash Amount greater than USD 1,000, then the Relevant Settlement Method for such Option shall be Combination Settlement; and
	 	 	 
	 	 	(iii) if Counterparty has elected to settle its conversion obligations in respect of the related Convertible Note entirely in cash pursuant to Section 14.04(a)(v)(B) of the Indenture (such settlement method, “Settlement in Cash”), then the Relevant Settlement Method for such Option shall be Cash Settlement.
	 	 	 
	 	Net Share Settlement:	If Net Share Settlement is applicable to any Option exercised or deemed exercised hereunder, Dealer will deliver to Counterparty, on the relevant Settlement Date for each such Option, a number of Shares (the “Net Share Settlement Amount”) equal to the sum, for each Valid Day during the Settlement Averaging Period for each such Option, of (i) (a) the Daily Option Value for such Valid Day, divided by (b) the Relevant Price on such Valid Day, divided by (ii) the number of Valid Days in the Settlement Averaging Period; provided that in no event shall the Net Share Settlement Amount for any Option exceed a number of Shares equal to the Applicable Limit for such Option divided by the Applicable Limit Price on the Settlement Date for such Option.
	 	 	 
	 	 	Dealer will pay cash in lieu of delivering any fractional Shares to be delivered with respect to any Net Share Settlement Amount valued at the Relevant Price for the last Valid Day of the Settlement Averaging Period.
	 	 	 
	 	Combination Settlement:	If Combination Settlement is applicable to any Option exercised or deemed exercised hereunder, Dealer will pay or deliver, as the case may be, to Counterparty, on the relevant Settlement Date for each such Option:
	 	 	 
	 	 	(i) 	cash (the “Combination Settlement Cash Amount”)
equal to the sum, for each Valid Day during the Settlement Averaging Period for such Option, of (A) an amount (the “Daily Combination
Settlement Cash Amount”) equal to the lesser of (1) the product of (x) the Applicable Percentage and (y) the Specified Cash
Amount minus USD 1,000 and (2) the Daily Option Value, divided by (B) the number of Valid Days in the Settlement Averaging
Period; provided that if the calculation in clause (A) above results in zero or a negative number for any Valid Day, the Daily
Combination Settlement Cash Amount for such Valid Day shall be deemed to be zero; and 

 

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		 	(ii)	Shares (the “Combination Settlement Share Amount”) equal to the sum, for each Valid
Day during the Settlement Averaging Period for such Option, of a number of Shares for such Valid Day (the “Daily Combination
Settlement Share Amount”) equal to (A) (1) the Daily Option Value on such Valid Day minus the Daily Combination
Settlement Cash Amount for such Valid Day, divided by (2) the Relevant Price on such Valid Day, divided by (B) the number
of Valid Days in the Settlement Averaging Period; provided that if the calculation in sub-clause (A)(1) above results in zero or
a negative number for any Valid Day, the Daily Combination Settlement Share Amount for such Valid Day shall be deemed to be zero;

 

	 	 	provided that in no event shall the sum of (x) the Combination Settlement Cash Amount for any Option and (y) the Combination Settlement Share Amount for such Option multiplied by the Applicable Limit Price on the Settlement Date for such Option, exceed the Applicable Limit for such Option.
	 	 	 
	 	 	Dealer will pay cash in lieu of delivering any fractional Shares to be delivered with respect to any Combination Settlement Share Amount valued at the Relevant Price for the last Valid Day of the Settlement Averaging Period.
	 	 	 
	 	Cash Settlement:	If Cash Settlement is applicable to any Option exercised or deemed exercised hereunder, in lieu of Section 8.1 of the Equity Definitions, Dealer will pay to Counterparty, on the relevant Settlement Date for each such Option, an amount of cash (the “Cash Settlement Amount”) equal to the sum, for each Valid Day during the Settlement Averaging Period for such Option, of (i) the Daily Option Value for such Valid Day, divided by (ii) the number of Valid Days in the Settlement Averaging Period.
	 	 	 
	 	Daily Option Value:	For any Valid Day, an amount equal to (i) the Option Entitlement on such Valid Day, multiplied by (ii) (A) the lesser of the Relevant Price on such Valid Day and the Cap Price, less (B) the Strike Price on such Valid Day; provided that if the calculation contained in clause (ii) above results in a negative number, the Daily Option Value for such Valid Day shall be deemed to be zero. In no event will the Daily Option Value be less than zero.
	 	 	 
	 	Applicable Limit:	For any Option, an amount of cash equal to the Applicable Percentage multiplied by the excess of (i) the aggregate of (A) the amount of cash, if any, paid to the Holder of the related Convertible Note upon conversion of such Convertible Note and (B) the number of Shares, if any, delivered to the Holder of the related Convertible Note upon conversion of such Convertible Note multiplied by the Applicable Limit Price on the Settlement Date for such Option, over (ii) USD 1,000.

 

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	 	Applicable Limit Price:	On any day, the opening price as displayed under the heading “Op” on Bloomberg page ENV <equity> (or any successor thereto).
	 	 	 
	 	Valid Day:	A “Trading Day” for purposes of determining the amounts due upon conversion of the Convertible Notes as defined in the Indenture.
	 	 	 
	 	Scheduled Valid Day:	A “Scheduled Trading Day” as defined in the Indenture.
	 	 	 
	 	Business Day:	A “Business Day” as defined in the Indenture.
	 	 	 
	 	Relevant Price:	On any Valid Day, the per Share volume-weighted average price as displayed under the heading “Bloomberg VWAP” on Bloomberg page ENV <equity> AQR (or its equivalent successor if such page is not available) in respect of the period from the scheduled open of trading on the Exchange to the Scheduled Closing Time of the Exchange on such Valid Day (or if such volume-weighted average price is unavailable at such time, the market value of one Share on such Valid Day, as determined by the Calculation Agent in a commercially reasonable manner using, if practicable, a volume-weighted average method). The Relevant Price will be determined without regard to after-hours trading or any other trading outside of the regular trading session trading hours.
	 	 	 
	 	Settlement Averaging Period:	For any Option, the 60 consecutive Valid Days commencing on, and including, the 61st Scheduled Valid Day immediately prior to the Expiration Date.
	 	 	 
	 	Settlement Date:	For any Option, the second Business Day immediately following the final Valid Day of the Settlement Averaging Period for such Option.
	 	 	 
	 	Settlement Currency:	USD
	 	 	 
	 	Other Applicable Provisions:	The provisions of Sections 9.1(c), 9.8, 9.9 and 9.11 of the Equity Definitions will be applicable, except that all references in such provisions to “Physically-settled” shall be read as references to “Share Settled”.  “Share Settled” in relation to any Option means that Net Share Settlement or Combination Settlement is applicable to that Option.
	 	 	 
	 	Representation and Agreement:	Notwithstanding anything to the contrary in the Equity Definitions (including, but not limited to, Section 9.11 thereof), the parties acknowledge that (i) any Shares delivered to Counterparty shall be, upon delivery, subject to restrictions and limitations arising from Counterparty’s status as issuer of the Shares under applicable securities laws, (ii) Dealer may deliver any Shares required to be delivered hereunder in certificated form in lieu of delivery through the Clearance System, (iii) any Shares delivered to Counterparty may be “restricted securities” (as defined in Rule 144 under the Securities Act of 1933, as amended (the “Securities Act”)) and (iv) the Representation and Agreement contained in Section 9.11 of the Equity Definitions shall be deemed modified accordingly.

 

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3.   Additional
Terms applicable to the Transaction.

 

Adjustments applicable to the Transaction:

 

	 	Potential Adjustment Events:	Notwithstanding Section 11.2(e) of the Equity Definitions, a “Potential Adjustment Event” means an occurrence of any event or condition, as set forth in any Dilution Adjustment Provision, that would result in an adjustment under the Indenture to the “Conversion Rate” or the composition of a “unit of Reference Property” or to any “Last Reported Sale Price”, “Daily VWAP,” “Daily Conversion Value” or “Daily Settlement Amount” (each as defined in the Indenture).  For the avoidance of doubt, Dealer shall not have any delivery or payment obligation hereunder, and no adjustment shall be made to the terms of the Transaction, on account of (x) any distribution of cash, property or securities by Counterparty to holders of the Convertible Notes (upon conversion or otherwise) or (y) any other transaction in which holders of the Convertible Notes are entitled to participate, in each case, in lieu of an adjustment under the Indenture of the type referred to in the immediately preceding sentence (including, without limitation, pursuant to the second sentence of Section 14.06(c) of the Indenture or the third sentence of Section 14.06(d) of the Indenture).
	 	 	 
	 	Method of Adjustment:	Calculation Agent Adjustment, which shall not have the meaning set forth in Section 11.2(c) of the Equity Definitions and instead shall mean that, upon any Potential Adjustment Event, the Calculation Agent, acting in good faith, shall make adjustments in a commercially reasonable manner to any one or more of the Strike Price, Number of Options, Option Entitlement and any other variable relevant to the exercise, settlement or payment for the Transaction that correspond to the adjustments to the Convertible Notes under the Indenture; provided that, notwithstanding the foregoing, if any Potential Adjustment Event occurs during the Settlement Averaging Period and Section 14.06(f) or Section 14.06(g) of the Indenture applies to the relevant “Conversion Rate” adjustment, then the Calculation Agent shall in good faith determine the adjustment to be made to any one or more of the Strike Price, Number of Options, Option Entitlement and any other variable relevant to the exercise, settlement or payment for the Transaction in a commercially reasonable manner.
	 	 	 
	 	 	Notwithstanding the foregoing and “Consequences of Merger Events / Tender Offers” below, if the Calculation Agent in good faith disagrees with any adjustment to the Convertible Notes determined pursuant to the Indenture that involves an exercise of discretion by Counterparty or its board of directors (including, without limitation, pursuant to Section 14.06(m) of the Indenture, Section 14.11 of the Indenture or any supplemental indenture entered into thereunder or in connection with any proportional adjustment or the determination of the fair value of any securities, property, rights or other assets), then in each such case, the Calculation Agent will determine the adjustment to be made to any one or more of the Strike Price, Number of Options, Option Entitlement and any other variable relevant to the exercise, settlement or payment for the Transaction, using, if applicable, the methodology set forth in the Indenture for any such adjustment, in good faith and in a commercially reasonable manner.

 

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	 	 	Notwithstanding anything contained herein to the contrary, (i) in connection with any Potential Adjustment Event as a result of an event or condition set forth in Section 14.06(b) of the Indenture or Section 14.06(c) of the Indenture where, in either case, the period for determining “Y” (as such term is used in Section 14.06(b) of the Indenture) or “SP0” (as such term is used in Section 14.06(c) of the Indenture), as the case may be, begins before Counterparty has publicly announced the event or condition giving rise to such Potential Adjustment Event, then the Calculation Agent shall, acting in good faith and in a commercially reasonable manner, have the right to adjust any variable relevant to the exercise, settlement or payment for the Transaction as appropriate to reflect the commercially reasonable costs (including, but not limited to, hedging mismatches and market losses) and commercially reasonable out-of-pocket expenses incurred by Dealer in connection with its hedging activities, with such adjustments made assuming that Dealer maintains commercially reasonable hedge positions, as a result of such event or condition not having been publicly announced prior to the beginning of such period and (ii) if any Potential Adjustment Event is declared and (a) the event or condition giving rise to such Potential Adjustment Event is subsequently amended, modified, cancelled or abandoned, (b) the “Conversion Rate” (as defined in the Indenture) is otherwise not adjusted at the time or in the manner contemplated by the relevant Dilution Adjustment Provision based on such declaration or (c) the “Conversion Rate” (as defined in the Indenture) is adjusted as a result of such Potential Adjustment Event and subsequently re-adjusted (each of clauses (a), (b) and (c), a “Potential Adjustment Event Change”) then, in each case, the Calculation Agent shall in good faith have the right to adjust any variable relevant to the exercise, settlement or payment for the Transaction as appropriate to reflect the costs (including, but not limited to, hedging mismatches and market losses) and expenses incurred by Dealer in connection with its commercially reasonable hedging activities as a result of such Potential Adjustment Event Change, with such adjustments made assuming that Dealer maintains commercially reasonable hedge positions.
	 	 	 
	 	Dilution Adjustment Provisions:	Sections 14.06(a), (b), (c), (d), (e) and (m) of the Indenture.

 

Extraordinary Events applicable to
the Transaction:

 

	 	Merger Events:	Applicable; provided that notwithstanding Section 12.1(b) of the Equity Definitions, a “Merger Event” means the occurrence of any event or condition set forth in the definition of “Share Exchange Event” in Section 14.11(a) of the Indenture.
	 	 	 
	 	Tender Offers:	Applicable; provided that “Tender Offer” shall not have the meaning set forth in Section 12.1(d) of the Equity Definitions and instead shall mean the occurrence of any event or condition set forth in Section 14.06(e) of the Indenture.  
	 	 	 
	 	Consequences of Merger Events/Tender  Offers:	Notwithstanding Section 12.2 and Section 12.3 of the Equity Definitions, upon the occurrence of a Merger Event or a Tender Offer, the Calculation Agent shall make a corresponding adjustment in respect of any adjustment under the Indenture to any one or more of the nature of the Shares (in the case of a Merger Event), Strike Price, Number of Options, Option Entitlement and any other variable relevant to the exercise, settlement or payment for the Transaction, subject to the second paragraph under “Method of Adjustment”; provided, however, that such adjustment shall be made without regard to any adjustment to the Conversion Rate pursuant to any Excluded Provision; provided further that if, with respect to a Merger Event or a Tender Offer, (i) the consideration for the Shares includes (or, at the option of a holder of Shares, may include) shares of an entity or person that is not a corporation or is not organized under the laws of the United States, any State thereof or the District of Columbia or (ii) the Counterparty to the Transaction following such Merger Event or Tender Offer will not be a corporation organized under the laws of the United States, any State thereof or the District of Columbia, then, in either case, Cancellation and Payment (Calculation Agent Determination) may apply in Dealer’s commercially reasonable discretion; provided further that, for the avoidance of doubt, adjustments shall be made pursuant to the provisions set forth above regardless of whether any Merger Event or Tender Offer gives rise to an Early Conversion.

 

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	 	Consequences of Announcement Events:	Modified Calculation Agent Adjustment as set forth in Section 12.3(d) of the Equity Definitions; provided that, in respect of an Announcement Event, (x) references to “Tender Offer” shall be replaced by references to “Announcement Event” and references to “Tender Offer Date” shall be replaced by references to “date of such Announcement Event”, (y) the phrase “exercise, settlement, payment or any other terms of the Transaction (including, without limitation, the spread)” shall be replaced with the phrase “Cap Price (provided that in no event shall the Cap Price be less than the Strike Price)” and the words “whether within a commercially reasonable (as determined by the Calculation Agent) period of time prior to or after the Announcement Event,” shall be inserted prior to the word “which” in the seventh line, and (z) for the avoidance of doubt, the Calculation Agent shall determine whether the relevant Announcement Event has had a material economic effect on the Transaction (and, if so, shall, acting in good faith and in a commercially reasonable manner, adjust the Cap Price accordingly) on one or more occasions on or after the date of the Announcement Event up to, and including, the Expiration Date, any Early Termination Date and/or any other date of cancellation, it being understood that any adjustment in respect of an Announcement Event shall take into account any earlier adjustment relating to the same Announcement Event and shall not be duplicative of any other adjustment made pursuant to this Confirmation.  An Announcement Event shall be an “Extraordinary Event” for purposes of the Equity Definitions, to which Article 12 of the Equity Definitions, as modified in this paragraph, is applicable.
	 	 	 
	 	Announcement Event:	(i) The public announcement by the Issuer, any subsidiary of the Issuer or any Valid Third Party Entity of (x) any transaction or event that, if completed, would constitute a Merger Event or Tender Offer, (y) any potential acquisition or disposition by Issuer and/or its subsidiaries where the aggregate consideration exceeds 35% of the market capitalization of Issuer as of the date of such announcement (an “Acquisition Transaction”) or (z) the intention to enter into a Merger Event or Tender Offer or an Acquisition Transaction, (ii) the public announcement by Issuer of an intention to solicit or enter into, or to explore strategic alternatives or other similar undertaking that may include, a Merger Event or Tender Offer or an Acquisition Transaction or (iii) any subsequent public announcement by the Issuer, any subsidiary or agent of the Issuer or any Valid Third Party Entity of a change to a transaction or intention that is the subject of an announcement of the type described in clause (i) or (ii) of this sentence (including, without limitation, a new announcement, whether or not by the same party, relating to such a transaction or intention or the announcement of a withdrawal from, or the abandonment or discontinuation of, such a transaction or intention), as determined by the Calculation Agent in a commercially reasonable manner.  For the avoidance of doubt, the occurrence of an Announcement Event with respect to any transaction or intention shall not preclude the occurrence of a later Announcement Event with respect to such transaction or intention. For purposes of this definition of “Announcement Event,” (A) “Merger Event” shall mean such term as defined under Section 12.1(b) of the Equity Definitions (but, for the avoidance of doubt, the remainder of the definition of “Merger Event” in Section 12.1(b) of the Equity Definitions following the definition of “Reverse Merger” therein shall be disregarded) and (B) “Tender Offer” shall mean such term as defined under Section 12.1(d) of the Equity Definitions, except that all references to “voting shares” in Sections 12.1(d), 12.1(e) and 12.1(l) of the Equity Definitions shall be deemed to be references to “Shares”; provided, further that Section 12.1(d) of the Equity Definitions is hereby amended by replacing “10%” with “15%” in the third line thereof.

 

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	 	Valid Third Party Entity:	In respect of any transaction, any third party that has a bona fide intent to enter into or consummate such transaction, as determined by the Calculation Agent in good faith and a commercially reasonable manner (it being understood and agreed that in determining whether such third party has such a bona fide intent, the Calculation Agent may take into consideration the effect of the relevant announcement by such third party on the Shares and/or options relating to the Shares).
	 	 	 
	 	Nationalization, Insolvency or Delisting:	Cancellation and Payment (Calculation Agent Determination); provided that, in addition to the provisions of Section 12.6(a)(iii) of the Equity Definitions, it will also constitute a Delisting if the Exchange is located in the United States and the Shares are not immediately re-listed, re-traded or re-quoted on any of the New York Stock Exchange, The NASDAQ Global Select Market or The NASDAQ Global Market (or their respective successors); if the Shares are immediately re-listed, re-traded or re-quoted on any of the New York Stock Exchange, The NASDAQ Global Select Market or The NASDAQ Global Market (or their respective successors), such exchange or quotation system shall thereafter be deemed to be the Exchange.
	 	 	 
	 	Additional Disruption Events:	 
	 	 	 
	 	Change in Law:	Applicable; provided that Section 12.9(a)(ii) of the Equity Definitions is hereby amended by (i) replacing the phrase “the interpretation” in the third line thereof with the phrase “, or public announcement of, the formal or informal interpretation”, (ii) replacing the word “Shares” where it appears in clause (X) thereof with the words “Hedge Position”, (iii) replacing the parenthetical beginning after the word “regulation” in the second line thereof the words “(including, for the avoidance of doubt and without limitation, (x) any tax law or (y) adoption, effectiveness or promulgation of new regulations authorized or mandated by existing statute)”, and (iv) adding the words “provided that in the case of clause (Y) hereof, any law or regulation is applied consistently by Dealer to all of its similarly situated counterparties and/or similar transactions” after the semi- colon in the last line thereof; and provided further that no event or set of events shall constitute a Change in Law for the purposes of Section 12.9(a)(ii)(Y) to the extent such event or events resulted solely from the deterioration of the creditworthiness of the Hedging Party.

 

	 	Failure to Deliver:	Applicable
	 	 	 
	 	Hedging Disruption:	Applicable; provided that:
	 	 	 
	 		(i)	Section 12.9(a)(v) of the Equity Definitions is hereby amended by inserting the following two phrases at the end of such Section:
	 	 	 	 
	 	 	“For the avoidance of doubt, the term “equity price risk” shall be deemed to include, but shall not be limited to, stock price and volatility risk. And, for the further avoidance of doubt, any such transactions or assets referred to in phrases (A) or (B) above must be available on commercially reasonable pricing terms.”; and
	 	 	 
	 		(ii)	Section 12.9(b)(iii) of the Equity Definitions is hereby amended by inserting in the third line thereof, after the words “to terminate
the Transaction”, the words “or the portion of the Transaction affected by such Hedging Disruption”.

 

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	 	Increased Cost of Hedging:	Not Applicable
	 	 	 
	 	Hedging Party:	For all applicable Additional Disruption Events, Dealer.  Following any determination by the Hedging Party hereunder, within five Business Days following a written request (which may be by e-mail) by Counterparty therefor, the Hedging Party shall provide to Counterparty by e-mail to the e-mail address provided by Counterparty a written explanation and report (in a commonly used file format for the storage and manipulation of financial data) describing in reasonable detail any determination made by it (including, as applicable, any quotations, market data, information from internal sources used in making such determinations, descriptions of the methodology and any assumptions and basis used in making for such determination), it being understood that the Hedging Party shall not be obligated to disclose any proprietary or confidential models or proprietary or confidential information used by it for such determination. All calculations, adjustments and determinations by Dealer acting in its capacity as the Hedging Party shall be made in good faith and in a commercially reasonable manner and assuming that Dealer maintains a commercially reasonable hedge position.
	 	 	 
	 	Determining Party:	For all applicable Extraordinary Events, Dealer.  Following any determination by the Determining Party hereunder, within five Business Days following a written request (which may be by e-mail) by Counterparty therefor, the Determining Party shall provide to Counterparty by e-mail to the e-mail address provided by Counterparty a written explanation and report (in a commonly used file format for the storage and manipulation of financial data) describing in reasonable detail any determination made by it (including, as applicable, any quotations, market data, information from internal sources used in making such determinations, descriptions of the methodology and any assumptions and basis used in making for such determination), it being understood that the Determining Party shall not be obligated to disclose any proprietary or confidential models or proprietary or confidential information used by it for such determination. All calculations, adjustments, and determinations by Dealer acting in its capacity as the Determining Party shall be made in good faith and in a commercially reasonable manner and assuming that Dealer maintains a commercially reasonable hedge position.
	 	 	 
	 	Non-Reliance:	Applicable
	 	 	 
	 	Agreements and Acknowledgments	 
	 	 	 
	 	Regarding Hedging Activities:	Applicable
	 	 	 
	 	Additional Acknowledgments:	Applicable

 

		4.	Calculation Agent.  Dealer; provided that, following the occurrence and during
the continuance of an Event of Default of the type described in Section 5(a)(vii) of the Agreement with respect to which Dealer is the
sole Defaulting Party, Counterparty shall have the right to designate a nationally recognized third-party dealer in equity derivatives
to act, during the period commencing on the date such Event of Default occurred and ending on the related Early Termination Date, as the
Calculation Agent. Regardless of whether or not a standard for the actions of the Calculation Agent is explicitly stated in any provision
hereof, the standards of Section 1.40 of the Equity Definitions, as modified by adding the words, “acts or” immediately before
the words, “is required to act” in line 2 thereof, shall apply to the Calculation Agent at all time and in respect of all
circumstances hereunder. Following any determination or calculation by the Calculation Agent hereunder, within five Business Days following
a written request by Counterparty therefor, the Calculation Agent shall promptly provide to Counterparty following such request by e-mail
to the e-mail address provided by Counterparty in such request a written explanation and report (in a commonly used file format for the
storage and manipulation of financial data) displaying in commercially reasonable detail the basis for such determination or calculation
(including any quotations, market data or information from internal or external sources, and any assumptions, used in making such determination
or calculation), it being understood that the Calculation Agent shall not be obligated to disclose any proprietary or confidential models
or proprietary or confidential information used by it for such determination or calculation.

 

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5.   Account
Details.

 

		(a)	Account for payments to Counterparty:

 

Bank:  [ ]

ABA#:  [ ]

Acct No.:  [ ]

Beneficiary:  [ ]

Ref: [ ]

 

Account for delivery of Shares to Counterparty:

 

To be provided.

 

		(b)	Account for payments to Dealer:

 

Bank: [ ]

SWIFT: [ ]

Bank Routing: [ ]

Acct Name: [ ]

Acct No.: [ ]

 

Account for delivery of Shares from Dealer:

 

To be provided.

 

6.   Offices.

 

		(a)	The Office of Counterparty for the Transaction is: Inapplicable, Counterparty is not a Multibranch Party.

 

		(b)	The Office of Dealer for the Transaction is: [ ]

 

7.   Notices.

 

		(a)	Address for notices or communications to Counterparty:

 

Envestnet, Inc.

1000 Chesterbrook Boulevard, Suite 250

Berwyn, Pennsylvania 19312

Attention:  [ ]

Telephone No.:  [ ]

Facsimile No.: [ ]

 

		(b)	Address for notices or communications to Dealer:

 

		To:	[ ]

 

8.   Representations
and Warranties of Counterparty.

 

Each of the representations and warranties
of Counterparty set forth in Section 1 of the Purchase Agreement (the “Purchase Agreement”) dated as of November 14,
2022, among Counterparty and Morgan Stanley & Co. LLC, BofA Securities, Inc., BMO Capital Markets Corp. and J.P. Morgan Securities
LLC, as representatives of the Initial Purchasers party thereto (the “Initial Purchasers”), are true and correct and
are hereby deemed to be repeated to Dealer as if set forth herein. Counterparty hereby further represents and warrants to Dealer on the
date hereof and on and as of the Premium Payment Date that:

 

		(a)	Counterparty has all necessary corporate power and authority to execute, deliver and perform its obligations
in respect of the Transaction; such execution, delivery and performance have been duly authorized by all necessary corporate action on
Counterparty’s part; and this Confirmation has been duly and validly executed and delivered by Counterparty and constitutes its
valid and binding obligation, enforceable against Counterparty in accordance with its terms, subject to applicable bankruptcy, insolvency,
fraudulent conveyance, reorganization, moratorium and similar laws affecting creditors’ rights and remedies generally, and subject,
as to enforceability, to general principles of equity, including principles of commercial reasonableness, good faith and fair dealing
(regardless of whether enforcement is sought in a proceeding at law or in equity) and except that rights to indemnification and contribution
hereunder may be limited by federal or state securities laws or public policy relating thereto.

 

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		(b)	Neither the execution and delivery of this Confirmation nor the incurrence or performance of obligations
of Counterparty hereunder will conflict with or result in a breach of the certificate of incorporation or by-laws (or any equivalent documents)
of Counterparty, or any applicable law or regulation, or any order, writ, injunction or decree of any court or governmental authority
or agency, or any agreement or instrument filed as an exhibit to Counterparty’s most recently filed Annual Report on Form 10-K,
as updated by subsequent filings, or constitute a default under, or result in the creation of any lien under, any such agreement or instrument.

 

		(c)	No consent, approval, authorization, or order of, or filing with, any governmental agency or body or any
court is required in connection with the execution, delivery or performance by Counterparty of this Confirmation, except such as have
been obtained or made and such as may be required under the Securities Act, the Exchange Act (as defined below), state securities laws
or the rules and regulations of FINRA applicable to Dealer; provided that Counterparty makes no representation or warranty regarding
any such requirement that is applicable generally to the ownership of equity securities by Dealer or any of its affiliates solely as a
result of Dealer or any of such affiliates being financial institutions and/or broker-dealers.

 

		(d)	Counterparty is not and, after consummation of the transactions contemplated hereby, will not be required
to register as an “investment company” as such term is defined in the Investment Company Act of 1940, as amended.

 

		(e)	Counterparty is an “eligible contract participant” (as such term is defined in Section 1a(18)
of the Commodity Exchange Act, as amended, other than a person that is an eligible contract participant under Section 1a(18)(C) of the
Commodity Exchange Act).

 

		(f)	Counterparty is not, on the date hereof, in possession of any material non-public information with respect
to Counterparty or the Shares.

 

		(g)	To Counterparty’s knowledge, no state or local (including any non-U.S. jurisdiction’s) law,
rule, regulation or regulatory order applicable to the Shares (not including laws, rules, regulations or regulatory orders of any jurisdiction
that are applicable solely as a result of Dealer’s and/or its affiliates’ activities, assets or businesses, other than Dealer’s activities
in respect of the Transaction) would give rise to any reporting, consent, registration or other requirement (including without limitation
a requirement to obtain prior approval from any person or entity) as a result of Dealer or its affiliates owning or holding (however defined)
Shares in connection with the Transaction, except for any reporting obligations under the Exchange Act (as defined below).

 

		(h)	Counterparty (A) is capable of evaluating investment risks independently, both in general and with regard
to all transactions and investment strategies involving a security or securities; (B) will exercise independent judgment in evaluating
the recommendations of any broker-dealer or its associated persons, unless it has otherwise notified the broker-dealer in writing; and
(C) has total assets of at least USD 50 million.

 

		(i)	On and immediately after the Trade Date and the Premium Payment Date, (A) the value of the total
assets of Counterparty is greater than the sum of the total liabilities (including contingent liabilities) and the capital (as such terms
are defined in Section 154 and Section 244 of the General Corporation Law of the State of Delaware) of Counterparty, (B) the capital
of Counterparty is adequate to conduct the business of Counterparty, and Counterparty’s entry into the Transaction will not impair
its capital, (C) Counterparty has the ability to pay its debts and obligations as such debts mature and does not intend to, or does
not believe that it will, incur debt beyond its ability to pay as such debts mature, (D) Counterparty will be able to continue as a going
concern; (E) Counterparty is not “insolvent” (as such term is defined under Section 101(32) of the U.S. Bankruptcy Code (Title
11 of the United States Code) (the “Bankruptcy Code”)) and (F) Counterparty would be able to purchase the number of
Shares with respect to the Transaction in compliance with the laws of the jurisdiction of Counterparty’s incorporation (including
the adequate surplus and capital requirements of Sections 154 and 160 of the General Corporation Law of the State of Delaware).

 

		(j)	Counterparty acknowledges that it has received, read and understands the OTC Options Risk Disclosure
Statement and a copy of the most recent disclosure pamphlet prepared by The Options Clearing Corporation entitled “Characteristics
and Risks of Standardized Options”.

 

    14

     

    

 

9.   Other
Provisions.

 

		(a)	Opinions. Counterparty shall deliver to Dealer an opinion of counsel, dated as of the Premium
Payment Date, with respect to the matters set forth in Sections 8(a) through (c) of this Confirmation, subject to customary assumptions,
qualifications and exemptions, in each case, reasonably acceptable to Dealer. Delivery of such opinion to Dealer shall be a condition
precedent for the purpose of Section 2(a)(iii) of the Agreement with respect to each obligation of Dealer under Section 2(a)(i) of the
Agreement.

 

		(b)	Repurchase Notices. Counterparty shall, no later than the day on which Counterparty effects
any repurchase of Shares, give Dealer a written notice of such repurchase (a “Repurchase Notice”) if following such
repurchase, the number of outstanding Shares as determined on such day is (i) less than 48.5 million (in the case of the first such notice)
or (ii) thereafter more than 5.3 million less than the number of Shares included in the immediately preceding Repurchase Notice. Counterparty
agrees to indemnify and hold harmless Dealer and its affiliates and their respective officers, directors, employees, affiliates, advisors,
agents and controlling persons (each, an “Indemnified Person”) from and against any and all commercially reasonable
losses (including losses relating to Dealer’s commercially reasonable hedging activities as a consequence of becoming, or of the
risk of becoming, a Section 16 “insider”, including without limitation, any forbearance from hedging activities or cessation
of hedging activities and any commercially reasonable losses in connection therewith with respect to the Transaction), claims, damages,
judgments, liabilities and commercially reasonable expenses (including reasonable attorney’s fees), joint or several, which an Indemnified
Person may become subject to, as a result of Counterparty’s failure to provide Dealer with a Repurchase Notice when and in the manner
specified in this paragraph, and to reimburse, within 30 days, upon written request, each of such Indemnified Persons for any reasonable
and documented legal or other expenses incurred (and supported by invoices or other documentation setting forth in reasonable detail such
expenses) in connection with investigating, preparing for, providing testimony or other evidence in connection with or defending any of
the foregoing. If any suit, action, proceeding (including any governmental or regulatory investigation), claim or demand shall be brought
or asserted against the Indemnified Person as a result of Counterparty’s failure to provide Dealer with a Repurchase Notice in accordance
with this paragraph, such Indemnified Person shall, promptly notify Counterparty in writing, and Counterparty, upon request of the Indemnified
Person, shall retain counsel reasonably satisfactory to the Indemnified Person to represent the Indemnified Person and any others Counterparty
may designate in such proceeding and shall pay the commercially reasonable and documented fees and expenses of such counsel related to
such proceeding. Counterparty shall not be liable for any settlement of any proceeding contemplated by this paragraph that is effected
without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, Counterparty agrees to
indemnify any Indemnified Person from and against any loss or liability by reason of such settlement or judgment. Counterparty shall not,
without the prior written consent of the Indemnified Person, effect any settlement of any pending or threatened proceeding contemplated
by this paragraph that is in respect of which any Indemnified Person is or could have been a party and indemnity could have been sought
hereunder by such Indemnified Person, unless such settlement includes an unconditional release of such Indemnified Person from all liability
on claims that are the subject matter of such proceeding on terms reasonably satisfactory to such Indemnified Person. Counterparty shall
not be liable for any losses, claims, damages or liabilities (or expenses thereto) of any Indemnified Person that result from bad faith,
gross negligence, willful misconduct or fraud of such Indemnified Person. If the indemnification provided for in this paragraph is unavailable
to an Indemnified Person or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then Counterparty
hereunder, in lieu of indemnifying such Indemnified Person thereunder, shall contribute to the amount paid or payable by such Indemnified
Person as a result of such losses, claims, damages or liabilities. The remedies provided for in this Section 9(b) are not exclusive and
shall not limit any rights or remedies which may otherwise be available to any Indemnified Person at law or in equity. The indemnity and
contribution agreements contained in this paragraph shall remain operative and in full force and effect regardless of the termination
of the Transaction.

 

		(c)	Regulation M. Counterparty is not on the Trade Date engaged in a distribution, as such term
is used in Regulation M under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), of any securities
of Counterparty, other than a distribution meeting the requirements of the exception set forth in Rules 101(b)(10) and 102(b)(7) of Regulation
M. Counterparty shall not, until the second Scheduled Trading Day immediately following the Effective Date, engage in any such distribution.

 

		(d)	No Manipulation. Counterparty is not entering into the Transaction to create actual or apparent
trading activity in the Shares (or any security convertible into or exchangeable for the Shares) or to raise or depress or otherwise manipulate
the price of the Shares (or any security convertible into or exchangeable for the Shares) or otherwise in violation of the Exchange Act.

 

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		(e)	Transfer or Assignment.

 

		(i)	Counterparty shall have the right to transfer or assign its rights and obligations hereunder with respect
to all, but not less than all, of the Options hereunder (such Options, the “Transfer Options”); provided that
such transfer or assignment shall be subject to reasonable conditions that Dealer may impose, including but not limited, to the following
conditions:

 

		(A)	With respect to any Transfer Options, Counterparty shall not be released from its notice and indemnification
obligations pursuant to Section 9(b) or any obligations under Section 9(n) or 9(s) of this Confirmation;

 

		(B)	Any Transfer Options shall only be transferred or assigned to a third party that is a United States person
(as defined in section 7701(a)(30) of the Internal Revenue Code of 1986, as amended) (the “Code”);

 

		(C)	Such transfer or assignment shall be effected
on terms, including any reasonable undertakings by such third party (including, but not limited to, an undertaking with respect to compliance
with applicable securities laws in a manner that, in the reasonable judgment of Dealer,
will not expose Dealer to material risks under applicable securities laws)
and execution of any documentation and delivery of legal opinions with respect to securities laws and other matters by such third party
and Counterparty, as are reasonably requested by and reasonably satisfactory to Dealer;

 

		(D)	Dealer will not, as a result of such transfer
and assignment, be required to pay the transferee on any payment date an amount under Section 2(d)(i)(4) of the Agreement greater than
an amount that Dealer would have been required to pay to Counterparty
in the absence of such transfer and assignment;

 

		(E)	No Event of Default, Potential Event of Default or Termination Event will occur as a result of such transfer
and assignment;

 

		(F)	Without limiting the generality of clause (B),
Counterparty shall cause the transferee to make such Payee Tax Representations and to provide such tax documentation as may be reasonably
requested by Dealer to permit Dealer to determine that results described
in clauses (D) and (E) will not occur upon or after such transfer and assignment; and

 

		(G)	Counterparty shall be responsible for all reasonable costs and expenses, including reasonable and documented
counsel fees, incurred by Dealer in connection with such transfer or assignment.

 

    16

     

    

 

		(ii)	Dealer may transfer or assign all or any part of its rights or obligations under the Transaction (A) without
Counterparty’s consent, to any affiliate of Dealer (1) that has a long-term issuer rating that is equal to or better than Dealer’s
credit rating at the time of such transfer or assignment, or (2) whose obligations hereunder will be guaranteed, pursuant to the terms
of a customary guarantee in a form used by Dealer generally for similar transactions, by Dealer [or Dealer’s ultimate parent] or
(B) with Counterparty’s consent (such consent not to be unreasonably withheld), to any other recognized dealer in transactions of
the same type as the Transaction with a long-term issuer rating equal to or better than the lesser of (1) the credit rating of Dealer
at the time of the transfer and (2) A- by Standard & Poor’s Financial Services LLC or its successor (“S&P”),
or A3 by Moody’s Investor Service, Inc. (“Moody’s”) or, if either S&P or Moody’s ceases to rate
such debt, at least an equivalent rating or better by a substitute rating agency mutually agreed by Counterparty and Dealer; provided,
however, Dealer may transfer or assign pursuant to this paragraph only if (A) the transferee is a “dealer in securities” within
the meaning of Section 475(c)(1) of the Code, (B) the transfer or assignment doesn’t constitute a “deemed exchange”
by Counterparty within the meaning of Section 1001 of the Code, (C) Counterparty shall be entitled to a payment, on any payment date,
that is not less than the payment Counterparty would have received in the absence of such transfer and/or assignment on account of any
deduction or withholding under Section 2(d)(i) of the Agreement, except to the extent such deduction or withholding results from a Change
in Tax Law occurring after the date of such transfer and/or assignment and (D) no Event of Default, Potential Event of Default or Termination
Event will occur as a result of such transfer and assignment. If at any time at which (A) the Section 16 Percentage exceeds 9.5%, (B)
the Option Equity Percentage exceeds 14.5%, or (C) the Share Amount exceeds the Applicable Share Limit (if any applies) (any such condition
described in clauses (A), (B) or (C), an “Excess Ownership Position”), Dealer is unable after using its commercially
reasonable efforts to effect a transfer or assignment of Options to a third party on pricing terms reasonably acceptable to Dealer and
within a time period reasonably acceptable to Dealer such that no Excess Ownership Position exists, then Dealer may designate any Exchange
Business Day as an Early Termination Date with respect to a portion of the Transaction (the “Terminated Portion”),
such that following such partial termination no Excess Ownership Position exists. In the event that Dealer so designates an Early Termination
Date with respect to a portion of the Transaction, a payment shall be made pursuant to Section 6 of the Agreement as if (1) an Early Termination
Date had been designated in respect of a Transaction having terms identical to the Transaction and a Number of Options equal to the number
of Options underlying the Terminated Portion, (2) Counterparty were the sole Affected Party with respect to such partial termination and
(3) the Terminated Portion were the sole Affected Transaction (and, for the avoidance of doubt, the provisions of Section 9(l) shall apply
to any amount that is payable by Dealer to Counterparty pursuant to this sentence as if Counterparty was not the Affected Party). The
“Section 16 Percentage” as of any day is the fraction, expressed as a percentage, (A) the numerator of which is the
number of Shares that Dealer and any of its affiliates or any other person subject to aggregation with Dealer for purposes of the “beneficial
ownership” test under Section 13 of the Exchange Act, or any “group” (within the meaning of Section 13 of the Exchange
Act) of which Dealer is or may be deemed to be a part beneficially owns (within the meaning of Section 13 of the Exchange Act), without
duplication, on such day (or, to the extent that for any reason the equivalent calculation under Section 16 of the Exchange Act and the
rules and regulations thereunder results in a higher number, such higher number) and (B) the denominator of which is the number of Shares
outstanding on such day. The “Option Equity Percentage” as of any day is the fraction, expressed as a percentage, (A)
the numerator of which is the sum of (1) the product of the Number of Options and the Option Entitlement and (2) the aggregate number
of Shares underlying any other call option transaction sold by Dealer to Counterparty, and (B) the denominator of which is the number
of Shares outstanding. The “Share Amount” as of any day is the number of Shares that Dealer and any person whose ownership
position would be aggregated with that of Dealer (Dealer or any such person, a “Dealer Person”) under any law, rule,
regulation, regulatory order or organizational documents or contracts of Counterparty that are, in each case, applicable to ownership
of Shares (“Applicable Restrictions”), owns, beneficially owns, constructively owns, controls, holds the power to vote
or otherwise meets a relevant definition of ownership under any Applicable Restriction, as determined by Dealer in its reasonable discretion.
The “Applicable Share Limit” means a number of Shares equal to (A) the minimum number of Shares that, in Dealer’s
reasonable judgment based on advice of counsel, could give rise to reporting or registration obligations (except for filings on Form 13F,
Schedule 13D or Schedule 13G, in each case, as in effect on the Trade Date) or other requirements (including obtaining prior approval
from any person or entity) of a Dealer Person, or could result in an adverse effect on a Dealer Person, under any Applicable Restriction,
as determined by Dealer in its reasonable discretion, minus (B) 0.5% of the number of Shares outstanding. Dealer shall provide
Counterparty with written notice of any transfer or assignment on the date of or as promptly as practicable after the date of such transfer
or assignment.

 

    17

     

    

 

		(iii)	Notwithstanding any other provision in this Confirmation to the contrary requiring or allowing Dealer
to purchase, sell, receive or deliver any Shares or other securities, or make or receive any payment in cash, to or from Counterparty,
Dealer may designate any of its affiliates to purchase, sell, receive or deliver such Shares or other securities, or to make or receive
such payment in cash, and otherwise to perform Dealer’s obligations in respect of the Transaction and any such designee may assume
such obligations. Dealer shall be discharged of its obligations to Counterparty to the extent of any such performance.

 

		(f)	Staggered Settlement. If upon advice of counsel with respect to applicable legal and regulatory
requirements, including any requirements relating to Dealer’s commercially reasonable hedging activities hereunder, Dealer reasonably
determines, based on the advice of counsel, that it would not be practicable or advisable to deliver, or to acquire Shares to deliver,
any or all of the Shares to be delivered by Dealer on any Settlement Date for the Transaction, Dealer may, by notice to Counterparty on
or prior to any Settlement Date (a “Nominal Settlement Date”), elect to deliver the Shares on two or more dates (each,
a “Staggered Settlement Date”) as follows:

 

		(i)	in such notice, Dealer will specify to Counterparty the related Staggered Settlement Dates (the first
of which will be such Nominal Settlement Date and the last of which will be no later than the twentieth (20th) Exchange Business
Day following such Nominal Settlement Date) and the number of Shares that it will deliver on each Staggered Settlement Date;

 

		(ii)	the aggregate number of Shares that Dealer will deliver to Counterparty hereunder on all such Staggered
Settlement Dates will equal the number of Shares that Dealer would otherwise be required to deliver on such Nominal Settlement Date; and

 

		(iii)	if the Net Share Settlement terms or the Combination Settlement terms set forth above were to apply on
the Nominal Settlement Date, then the Net Share Settlement terms or the Combination Settlement terms, as the case may be, will apply on
each Staggered Settlement Date, except that the Shares otherwise deliverable on such Nominal Settlement Date will be allocated among such
Staggered Settlement Dates as specified by Dealer in the notice referred to in clause (i) above.

 

		(g)	[Reserved.]

 

		(h)	Conduct Rules. [To the extent that such rules are applicable to it, each] [Each] party acknowledges
and agrees to be bound by the Conduct Rules of the Financial Industry Regulatory Authority applicable to transactions in options, and
further agrees not to violate the position and exercise limits set forth therein.

 

		(i)	Additional Termination Events.

 

		(i)	Notwithstanding anything to the contrary in this Confirmation, upon any Early Conversion in respect of
which a Notice of Conversion that is effective as to Counterparty has been delivered by the relevant converting Holder:

 

		(A)	Counterparty shall, within five Scheduled Trading Days of the Conversion Date for such Early Conversion,
provide written notice (an “Early Conversion Notice”) to Dealer specifying the number of Convertible Notes surrendered
for conversion on such Conversion Date (such Convertible Notes, the “Affected Convertible Notes”); provided that,
any “Early Conversion Notice” delivered to Dealer pursuant to the Base Call Option Confirmation shall deemed to be an Early
Conversion Notice pursuant to this Confirmation and the terms of such Early Conversion Notice shall apply, mutatis mutandis, to
this Confirmation;

 

		(B)	the giving of an Early Conversion Notice pursuant to subclause (A) above shall constitute an Additional
Termination Event as provided in this Section 9(i)‎(i);

 

    18

     

    

 

		(C)	upon receipt of any such Early Conversion Notice, Dealer shall designate an Exchange Business Day as an
Early Termination Date (which Exchange Business Day shall be on or as promptly as reasonably practicable after the related settlement
date for the conversion of such Affected Convertible Notes) with respect to the portion of the Transaction corresponding to a number of
Options (the “Affected Number of Options”) equal to the lesser of (x) the number of Affected Convertible Notes minus
the “Affected Number of Options” (as defined in the Base Call Option Confirmation), if any, that relate to such Affected
Convertible Notes (and for the purposes of determining whether any Options under this Confirmation or under the Base Call Option Confirmation
will be among the Affected Number of Options hereunder or under, and as defined in, the Base Call Option Confirmation, the Affected Convertible
Notes specified in such Early Conversion Notice shall be allocated first to the Base Call Option Confirmation until all Options thereunder
are exercised or terminated) and (y) the Number of Options as of the Conversion Date for such Early Conversion;

 

		(D)	any payment hereunder with respect to such termination shall be calculated pursuant to Section 6 of the
Agreement as if (x) an Early Termination Date had been designated in respect of a Transaction having terms identical to the Transaction
and a Number of Options equal to the Affected Number of Options, (y) Counterparty were the sole Affected Party with respect to such Additional
Termination Event and (z) the terminated portion of the Transaction were the sole Affected Transaction; provided that the amount
payable with respect to such termination shall not be greater than (1) the Applicable Percentage, multiplied by (2) the Affected
Number of Options, multiplied by (3) (x) the sum of (i) the amount of cash paid (if any) to the Holder (as such term is defined
in the Indenture) of an Affected Convertible Note upon conversion of such Affected Convertible Note and (ii) the number of Shares delivered
(if any) to the Holder (as such term is defined in the Indenture) of an Affected Convertible Note upon conversion of such Affected Convertible
Note, multiplied by the Applicable Limit Price on the relevant date of payment, minus (y) USD 1,000;

 

	 	(E)	for
    the avoidance of doubt, in determining the amount payable in respect of such Affected Transaction pursuant to Section 6 of the Agreement,
    the Calculation Agent shall assume that (x) the relevant Early Conversion and any conversions, adjustments, agreements, payments,
    deliveries or acquisitions by or on behalf of Counterparty leading thereto had not occurred, (y) no adjustments to the Conversion
    Rate have occurred pursuant to any Excluded Provision and (z) the corresponding Convertible Notes remain outstanding; and

 

	 	(F)	the Transaction shall remain in full force and effect, except that, as of the Conversion Date for such Early Conversion, the Number of Options shall be reduced by the Affected Number of Options.

 

		(ii)	Notwithstanding anything to the contrary in this Confirmation if an event of default with respect to Counterparty
occurs under the terms of the Convertible Notes as set forth in Section 6.01 of the Indenture and the Convertible Notes are declared due
and payable as a result thereof, then such declaration shall constitute an Additional Termination Event applicable to the Transaction
and, with respect to such Additional Termination Event, (A) Counterparty shall be deemed to be the sole Affected Party, (B) the Transaction
shall be the sole Affected Transaction and (C) Dealer shall be the party entitled to designate an Early Termination Date pursuant to Section
6(b) of the Agreement.

 

		(iii)	Notwithstanding anything to the contrary in this Confirmation, the occurrence of an Amendment Event shall
constitute an Additional Termination Event applicable to the Transaction and, with respect to such Additional Termination Event, (A) Counterparty
shall be deemed to be the sole Affected Party, (B) the Transaction shall be the sole Affected Transaction and (C) Dealer shall be the
party entitled to designate an Early Termination Date pursuant to Section 6(b) of the Agreement. “Amendment Event”
means that Counterparty amends, modifies, supplements, waives or obtains a waiver in respect of any term of the Indenture or the Convertible
Notes governing the principal amount, coupon, maturity, repurchase obligation of Counterparty, redemption right of Counterparty, any term
relating to conversion of the Convertible Notes (including changes to the conversion rate, conversion rate adjustment provisions, conversion
settlement dates or conversion conditions), or any term that would require consent of the holders of not less than 100% of the principal
amount of the Convertible Notes to amend (other than, in each case, any amendment or supplement (x) pursuant to Section 10.01(i) of the
Indenture that, as determined by the Calculation Agent, conforms the Indenture to the description of Convertible Notes in the Offering
Memorandum or (y) pursuant to Section 14.11 of the Indenture), in each case, without the consent of Dealer.

 

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		(iv)	Within five Scheduled Trading Days promptly following any Repayment Event (as defined below), Counterparty
(i) shall (solely to the extent that such Repayment Event results directly from a “Fundamental Change” (as defined in the
Indenture)), and (ii) otherwise may, but shall not be obligated to, notify Dealer of such Repayment Event and the aggregate principal
amount of Convertible Notes subject to such Repayment Event (any such notice, a “Repayment Notice”); provided
that in the case of (ii) only, such Repayment Notice shall contain the representation and warranty that Counterparty is not, on the date
thereof, aware of any material non-public information with respect to Counterparty or the Shares; provided, further, that, any
“Repayment Notice” delivered to Dealer pursuant to the Base Call Option Confirmation shall deemed to be a Repayment Notice
pursuant to this Confirmation and the terms of such Repayment Notice shall apply, mutatis mutandis, to this Confirmation. The receipt
by Dealer from Counterparty of any Repayment Notice, within the applicable time period set forth in the preceding sentence, shall constitute
an Additional Termination Event as provided in this paragraph, it being understood that no Repayment Event shall constitute an Additional
Termination Event hereunder unless Dealer has so received such Repayment Notice. Upon receipt of any such Repayment Notice, Dealer shall
designate an Exchange Business Day following receipt of such Repayment Notice (which in no event shall be earlier than the date on which
the relevant Repayment Event occurs or is consummated) as an Early Termination Date with respect to the portion of the Transaction corresponding
to a number of Options (the “Repayment Options”) equal to the lesser of (A) (x) the aggregate principal amount of such
Convertible Notes specified in such Repayment Notice, divided by USD 1,000, minus (y) the number of “Repayment Options”
(as defined in the Base Call Option Confirmation), if any, that relate to such Convertible Notes (and for the purposes of determining
whether any Options under this Confirmation or under the Base Call Option Confirmation will be among the Repayment Options hereunder or
under, and as defined in, the Base Call Option Confirmation, the Convertible Notes specified in such Repayment Notice shall be allocated
first to the Base Call Option Confirmation until all Options thereunder are exercised or terminated), and
(B) the Number of Options as of the date Dealer designates such Early Termination Date and, as of such date, the Number of Options shall
be reduced by the number of Repayment Options. Any payment hereunder with respect to such termination (the “Repayment Unwind
Payment”) shall be calculated pursuant to Section 6 of the Agreement as if (1) an Early Termination Date had been designated
in respect of a Transaction having terms identical to the Transaction and a Number of Options equal to the number of Repayment Options,
(2) Counterparty were the sole Affected Party with respect to such Additional Termination Event and (3) the terminated portion of the
Transaction were the sole Affected Transaction. For the avoidance of doubt, solely for purposes of calculating the amount payable pursuant
to Section 6 of the Agreement pursuant to the immediately preceding sentence, Dealer shall assume that the relevant Repayment Event (and,
if applicable, the related Fundamental Change and the announcement of such Fundamental Change) had not occurred. “Repayment Event”
means that (i) any Convertible Notes are repurchased and cancelled in accordance with the Indenture (whether in connection with or as
a result of a Fundamental Change, upon redemption or for any other reason) by Counterparty or any of its subsidiaries, (ii) any Convertible
Notes are delivered to Counterparty or any of its subsidiaries in exchange for delivery of any property or assets of such party (howsoever
described), (iii) any principal of any of the Convertible Notes is repaid prior to the final maturity date of the Convertible Notes (for
any reason other than as a result of an acceleration of the Convertible Notes that results in an Additional Termination Event pursuant
to the preceding Section 9(i)(ii)), or (iv) any Convertible Notes are exchanged by or for the benefit of the holders thereof for any other
securities of Counterparty or any of its subsidiaries (or any other property, or any combination thereof) pursuant to any exchange offer
or similar transaction. For the avoidance of doubt, any conversion of Convertible Notes (whether into cash, Shares, reference property
or any combination thereof) pursuant to the terms of the Indenture shall not constitute a Repayment Event. In addition, Counterparty acknowledges,
based on advice of outside counsel, its responsibilities under applicable securities laws, including, in particular, Sections 9 and 10(b)
of the Exchange Act and the rules and regulations thereunder in respect of the Repayment Event, including, without limitation, the delivery
of a Repayment Notice hereunder.

 

		(j)	Amendments to Equity Definitions.

 

		(i)	Section 11.2(e)(vii) of the Equity Definitions is hereby amended by deleting the words “a diluting
or concentrative” and replacing them with the words “a material” and adding the phrase “or the Options”
at the end of the sentence.

 

		(ii)	Section 12.6(a)(ii) of the Equity Definitions is hereby amended by (1) inserting “(1)” immediately
following the word “means” in the first line thereof and (2) inserting immediately prior to the semi-colon at the end of subsection
(B) thereof the following words: “or (2) the occurrence of any of the events specified in Section 5(a)(vii)(1) through (9) of the
ISDA Master Agreement with respect to that Issuer”.

 

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		(iii)	Section 12.9(b)(i) of the Equity Definitions is hereby amended by (1) replacing “either party may
elect” with “Dealer may elect” and (2) replacing “notice to the other party” with “notice to Counterparty”
in the first sentence of such section.

 

		(iv)	Section 12(a) of the Agreement is hereby amended by (1) deleting the phrase “or email” in
the third line thereof and (2) deleting the phrase “or that communication is delivered (or attempted) or received, as applicable,
after the close of business on a Local Business Day” in the final clause thereof.

 

		(k)	Setoff. Notwithstanding any provision of the Agreement and this Confirmation (including
without limitation this Section 9(k)) or any other agreement between the parties to the contrary, each party waives any and all rights
it may have to set off obligations arising under the Agreement and the Transaction against other obligations between the parties, whether
arising under any other agreement, applicable law or otherwise.

 

		(l)	Alternative Calculations and Payment on Early Termination and on Certain Extraordinary Events.
If (a) an Early Termination Date (whether as a result of an Event of Default or a Termination Event) occurs or is designated with respect
to the Transaction or (b) the Transaction is cancelled or terminated upon the occurrence of an Extraordinary Event (except as a result
of (i) a Nationalization, Insolvency or Merger Event in which the consideration to be paid to all holders of Shares consists solely of
cash, (ii) an Announcement Event, Merger Event or Tender Offer that is within Counterparty’s control, or (iii) an Event of Default
in which Counterparty is the Defaulting Party or a Termination Event in which Counterparty is the sole Affected Party other than an Event
of Default of the type described in Section 5(a)(iii), (v), (vi), (vii) or (viii) of the Agreement or a Termination Event of the type
described in Section 5(b) of the Agreement, in each case that resulted from an event or events outside Counterparty’s control),
and if Dealer would owe any amount to Counterparty pursuant to Section 6(d)(ii) of the Agreement or any Cancellation Amount pursuant to
Article 12 of the Equity Definitions (any such amount, a “Payment Obligation”), then Dealer shall satisfy the Payment
Obligation by the Share Termination Alternative (as defined below), unless (a) Counterparty gives irrevocable telephonic notice to
Dealer, confirmed in writing within one Scheduled Trading Day, no later than 5:00 p.m. (New York City time) on the date of the Announcement
Event, Merger Date, Tender Offer Date, Announcement Date (in the case of a Nationalization, Insolvency or Delisting), Early Termination
Date or date of cancellation, as applicable, of its election that the Share Termination Alternative shall not apply, (b) Counterparty
remakes the representation set forth in Section 8(f) as of the date of such election and (c) Dealer agrees, in its sole discretion, to
such election, in which case the provisions of Section 12.7 or Section 12.9 of the Equity Definitions, or the provisions of Section 6(d)(ii)
of the Agreement, as the case may be, shall apply.

 

	 	Share Termination Alternative:	If applicable, Dealer shall deliver to Counterparty the Share Termination Delivery Property on, or within a commercially reasonable period of time after, the date when the relevant Payment Obligation would otherwise be due pursuant to Section 12.7 or 12.9 of the Equity Definitions or Section 6(d)(ii) and 6(e) of the Agreement, as applicable, in satisfaction of such Payment Obligation in the manner reasonably requested by Counterparty free of payment.
	 	 	 
	 	Share Termination Delivery Property:	A number of Share Termination Delivery Units, as calculated by the Calculation Agent, equal to the Payment Obligation divided by the Share Termination Unit Price.  The Calculation Agent shall adjust the Share Termination Delivery Property by replacing any fractional portion of a security therein with an amount of cash equal to the value of such fractional security based on the values used to calculate the Share Termination Unit Price.  

 

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	 	Share Termination Delivery Unit:	One Share or, if the Shares have changed into cash or any other property or the right to receive cash or any other property as the result of a Nationalization, Insolvency or Merger Event (any such cash or other property, the “Exchange Property”), a unit consisting of the type and amount of such Exchange Property received by a holder of one Share (without consideration of any requirement to pay cash or other consideration in lieu of fractional amounts of any securities) in such Nationalization, Insolvency or Merger Event, as determined by the Calculation Agent.
	 	 	 
	 	Share Termination Unit Price:	The value to Dealer of property contained in one Share Termination Delivery Unit, as determined by the Calculation Agent in its discretion by commercially reasonable means and notified by the Calculation Agent to Dealer at the time of notification of the Payment Obligation. For the avoidance of doubt, the parties agree that in determining the Share Termination Delivery Unit Price the Calculation Agent may consider the purchase price paid in connection with the purchase of Share Termination Delivery Property that was purchased in connection with the delivery of the Share Termination Delivery Units.
	 	 	 
	 	Failure to Deliver:	Applicable
	 	 	 
	 	Other applicable provisions:	If Share Termination Alternative is applicable, the provisions of Sections 9.8, 9.9 and 9.11 (as modified above) of the Equity Definitions and the provisions set forth opposite the caption “Representation and Agreement” in Section 2 will be applicable, except that all references in such provisions to “Physically-settled” shall be read as references to “Share Termination Settled” and all references to “Shares” shall be read as references to “Share Termination Delivery Units”.  “Share Termination Settled” in relation to the Transaction means that Share Termination Alternative is applicable to the Transaction.

 

		(m)	Waiver of Jury Trial. Each party waives, to the fullest extent permitted by applicable law,
any right it may have to a trial by jury in respect of any suit, action or proceeding relating to the Transaction. Each party (i) certifies
that no representative, agent or attorney of either party has represented, expressly or otherwise, that such other party would not, in
the event of such a suit, action or proceeding, seek to enforce the foregoing waiver and (ii) acknowledges that it and the other party
have been induced to enter into the Transaction, as applicable, by, among other things, the mutual waivers and certifications provided
herein.

 

		(n)	Registration. Counterparty hereby agrees that if, in the good faith reasonable judgment
of Dealer, based on the advice of counsel, the Shares acquired and held by Dealer for the purpose of effecting a commercially reasonable
hedge of its obligations pursuant to the Transaction (“Hedge Shares”) cannot be sold in the public market by Dealer
without registration under the Securities Act (other than any such Hedge Shares that were, at the time of acquisition by Dealer, “restricted
securities” (as defined in Rule 144 under the Securities Act)), Counterparty shall, at its election, either (i) in order to allow
Dealer to sell the Hedge Shares in a registered offering, make available to Dealer an effective registration statement under the Securities
Act as soon as reasonably practicable after requested by the Dealer and enter into an agreement, in form and substance reasonably satisfactory
to Dealer, substantially in the form of an underwriting agreement for a registered secondary offering of substantially similar size and
in a similar industry; provided, however, that if Dealer, in its reasonable discretion, is not satisfied with access to
due diligence materials, the results of its due diligence investigation, or the procedures and documentation for the registered offering
referred to above, then clause (ii) or clause (iii) of this paragraph shall apply at the election of Counterparty, (ii) in order to allow
Dealer to sell the Hedge Shares in a private placement, enter into a private placement agreement substantially similar to private placement
purchase agreements customary for private placements of equity securities of similar size and industry, in form and substance reasonably
satisfactory to Dealer (in which case, the Calculation Agent shall make any adjustments to the terms of the Transaction that are necessary,
in its reasonable judgment, to compensate Dealer for any commercially reasonable discount from the public market price of the Shares incurred
on the sale of Hedge Shares in a private placement), or (iii) purchase the Hedge Shares from Dealer at the then-current market price on
such Exchange Business Days, and in the amounts and at such time(s), requested by Dealer.

 

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		(o)	Tax Disclosure. Effective from the date of commencement of discussions concerning the Transaction,
Counterparty and each of its employees, representatives, or other agents may disclose to any and all persons, without limitation of any
kind, the tax treatment and tax structure of the Transaction and all materials of any kind (including opinions or other tax analyses)
that are provided to Counterparty relating to such tax treatment and tax structure.

 

		(p)	Right to Extend. Dealer may postpone or add, in a commercially reasonable manner, in whole
or in part, any Valid Day or Valid Days during the Settlement Averaging Period or any other date of valuation, payment or delivery by
Dealer, with respect to some or all of the Options hereunder, to the extent Dealer reasonably determines (and in the case of clause (ii)
below, based on the advice of counsel), that such action is reasonably necessary or appropriate (i) to preserve Dealer’s commercially
reasonable hedging or hedge unwind activity hereunder in light of existing liquidity conditions (but only if there is a material decrease
in liquidity relative to Dealer’s expectations on the Trade Date) or (ii) to enable Dealer to effect purchases of Shares in connection
with its commercially reasonable hedging, hedge unwind or settlement activity hereunder in a manner that would, if Dealer were Counterparty
or an affiliated purchaser of Counterparty, be in compliance with applicable legal, regulatory or self-regulatory requirements, or with
related policies and procedures applicable to Dealer (so long as such policies or procedures are consistently applied to transactions
similar to the Transaction); provided that no such Valid Day or other date of valuation, payment or delivery may be postponed or
added more than 60 Valid Days after the original Valid Day or other date of valuation, payment or delivery, as the case may be.

 

		(q)	Status of Claims in Bankruptcy. Dealer acknowledges and agrees that this Confirmation is
not intended to convey to Dealer rights against Counterparty with respect to the Transaction that are senior to the claims of common stockholders
of Counterparty in any United States bankruptcy proceedings of Counterparty; provided that nothing herein shall limit or shall
be deemed to limit Dealer’s right to pursue remedies in the event of a breach by Counterparty of its obligations and agreements
with respect to the Transaction; provided further that nothing herein shall limit or shall be deemed to limit Dealer’s rights
in respect of any transactions other than the Transaction.

 

		(r)	Securities Contract; Swap Agreement. The parties hereto intend for (i) the Transaction to
be a “securities contract” and a “swap agreement” as defined in the Bankruptcy Code (Title 11 of the United States
Code) (the “Bankruptcy Code”), and the parties hereto to be entitled to the protections afforded by, among other Sections,
Sections 362(b)(6), 362(b)(17), 546(e), 546(g), 555 and 560 of the Bankruptcy Code, (ii) a party’s right to liquidate the Transaction
and to exercise any other remedies upon the occurrence of any Event of Default under the Agreement with respect to the other party to
constitute a “contractual right” as described in the Bankruptcy Code, and (iii) each payment and delivery of cash, securities
or other property hereunder to constitute a “margin payment” or “settlement payment” and a “transfer”
as defined in the Bankruptcy Code.

 

		(s)	Notice of Certain Other Events. Counterparty covenants and agrees that:

 

		(i)	promptly following the public announcement of the results of any election by the holders of Shares with
respect to the consideration due upon consummation of any Merger Event, Counterparty shall give Dealer written notice of the types and
amounts of consideration actually received by holders of Shares pursuant to such Merger Event (the date of such notification, the “Consideration
Notification Date”); provided that in no event shall the Consideration Notification Date be later than the date on which
such Merger Event is consummated; and

 

		(ii)	(A) Counterparty shall give Dealer commercially reasonable advance (but in no event less than one Exchange
Business Day) written notice of the section or sections of the Indenture and, if applicable, the formula therein, pursuant to which any
adjustment will be made to the Convertible Notes in connection with any Potential Adjustment Event, Merger Event or Tender Offer and (B)
promptly following any such adjustment, Counterparty shall give Dealer written notice of the details of such adjustment.

 

		(t)	Wall Street Transparency and Accountability Act. In connection with Section 739 of the Wall
Street Transparency and Accountability Act of 2010 (“WSTAA”), the parties hereby agree that neither the enactment of
WSTAA or any regulation under the WSTAA, nor any requirement under WSTAA or an amendment made by WSTAA, shall limit or otherwise impair
either party’s otherwise applicable rights to terminate, renegotiate, modify, amend or supplement this Confirmation or the Agreement,
as applicable, arising from a termination event, force majeure, illegality, increased costs, regulatory change or similar event under
this Confirmation, the Equity Definitions incorporated herein, or the Agreement (including, but not limited to, rights arising from Change
in Law, Hedging Disruption, Increased Cost of Hedging, an Excess Ownership Position, or Illegality (as defined in the Agreement)).

 

		(u)	Agreements and Acknowledgements Regarding Hedging. Counterparty understands, acknowledges
and agrees that: (A) at any time on and prior to the Expiration Date, Dealer and its affiliates may buy or sell Shares or other securities
or buy or sell options or futures contracts or enter into swaps or other derivative securities in order to adjust its hedge position with
respect to the Transaction; (B) Dealer and its affiliates also may be active in the market for Shares other than in connection with hedging
activities in relation to the Transaction; (C) Dealer shall make its own determination as to whether, when or in what manner any hedging
or market activities in securities of Issuer shall be conducted and shall do so in a manner that it deems appropriate to hedge its price
and market risk with respect to the Relevant Prices; and (D) any market activities of Dealer and its affiliates with respect to Shares
may affect the market price and volatility of Shares, as well as the Relevant Prices, each in a manner that may be adverse to Counterparty.

 

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		(v)	Early Unwind. In the event the sale of the “Optional Notes” (as defined in the
Purchase Agreement) is not consummated with the Initial Purchaser for any reason, or Counterparty fails to deliver to Dealer opinions
of counsel as required pursuant to Section 9(a), in each case by 5:00 p.m. (New York City time) on the Premium Payment Date, or such later
date as agreed upon by the parties (the Premium Payment Date or such later date, the “Early Unwind Date”), the Transaction
shall automatically terminate (the “Early Unwind”) on the Early Unwind Date and (i) the Transaction and all of the
respective rights and obligations of Dealer and Counterparty under the Transaction shall be cancelled and terminated and (ii) each party
shall be released and discharged by the other party from and agrees not to make any claim against the other party with respect to any
obligations or liabilities of the other party arising out of and to be performed in connection with the Transaction either prior to or
after the Early Unwind Date. Each of Dealer and Counterparty represents and acknowledges to the other that upon an Early Unwind, all obligations
with respect to the Transaction shall be deemed fully and finally discharged.

 

		(w)	Tax Matters.

 

(i) Withholding
Tax imposed on payments to non-U.S. counterparties under the United States Foreign Account Tax Compliance Act. The parties hereto
agree that for the Transaction the terms “Tax” and “Indemnifiable Tax” as defined in Section 14 of the Agreement,
shall not include any U.S. federal withholding tax imposed or collected pursuant to Section 1471 through 1474 of the Code, any current
or future regulations or official interpretations thereof, any agreement entered into pursuant to Section 1471(b) of the Code, or any
fiscal or regulatory legislation, rules or practices adopted pursuant to any intergovernmental agreement entered into in connection with
the implementation of such Sections of the Code (a “FATCA Withholding Tax”). For the avoidance of doubt, a FATCA Withholding
Tax is a Tax the deduction or withholding of which is required by applicable law for the purposes of Section 2(d) of the Agreement.

 

(ii) Tax Documentation.
For purposes of Section 4(a) of the Agreement, (i) Counterparty agrees to deliver to Dealer one duly executed and completed United States
Internal Revenue Service Form W-9 (or successor thereto) and (ii) Dealer agrees to deliver to Counterparty one duly executed and completed
Internal Revenue Service Form W-9 (or successor thereto), in each case, (A) on or before the date of execution of this Confirmation and
(B) promptly upon learning that any such tax form previously provided by it has expired or become obsolete or incorrect. Additionally,
each party shall, promptly upon request by the other party, provide such other tax forms and documents reasonably requested by the other
party.

 

(iii) Payee Tax
Representations. For purposes of Section 3(f) of the Agreement, (i) Counterparty is a corporation for U.S. federal income tax
purposes and is organized under the laws of the State of Delaware. Counterparty is a “U.S. person” (as that term is used in
section 1.1441-4(a)(3)(ii) of United States Treasury Regulations) for U.S. federal income tax purposes and an exempt recipient under Treasury
Regulation Section 1.6049-4(c)(1)(ii), and (ii) Dealer is [a “U.S. person” or a disregarded entity owned by a “U.S.
person” (as that term is used in section 1.1441-4(a)(3)(ii) of United States Treasury Regulations) for U.S. federal income tax purposes].
Each party agrees to give notice to the other party of any failure of a representation made by it under this Section 9(w)(iii) to be accurate
and true promptly upon learning of such failure.

 

(iv) HIRE Act
Protocols. The parties hereto agree that the definitions and provisions contained in the (x) Attachment to the 2010 Short Form
HIRE Act Protocol and (y) 2015 Section 871(m) Protocol, in each case as published by the International Swaps and Derivatives Association,
Inc. and as may be amended, supplemented, replaced or superseded from time to time, are incorporated into and apply to the Agreement as
if set forth in full herein as of the Effective Date.

 

		(x)	Payment by Counterparty. In the event that, following payment of the Premium, (i) an Early
Termination Date occurs or is designated with respect to the Transaction as a result of a Termination Event or an Event of Default (other
than an Event of Default arising under Section 5(a)(ii) or 5(a)(iv) of the Agreement) and, as a result, Counterparty owes to Dealer an
amount calculated under Section 6(e) of the Agreement, or (ii) Counterparty owes to Dealer, pursuant to Section 12.7 or Section 12.9 of
the Equity Definitions, an amount calculated under Section 12.8 of the Equity Definitions, such amount shall be deemed to be zero.

 

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		(y)	Other Adjustments Pursuant to the Equity Definitions. Notwithstanding anything to the contrary
in the Agreement, the Equity Definitions or this Confirmation, upon the occurrence of a Merger Date, the occurrence of a Tender Offer
Date, or declaration by Counterparty of the terms of any Potential Adjustment Event, the Calculation Agent shall determine in good faith
and in a commercially reasonable manner whether such occurrence or declaration, as applicable, has had a material economic effect on the
Transaction, and if so, shall, in its good faith and commercially reasonable discretion, adjust the Cap Price to account for the economic
effect on the Transaction of such occurrence or declaration (provided that in no event shall the Cap Price be less than the Strike
Price; provided further that any adjustment to the Cap Price made pursuant to this section shall be made without duplication of
any other adjustment hereunder). Solely for purposes of this Section 9(y), (x) the terms “Potential Adjustment Event,”
“Merger Event,” and “Tender Offer” shall each have the meanings assigned to each such term in the Equity Definitions
(in the case of the definition of “Potential Adjustment Event”, as amended by Section 9(j)(i), and in the case of the definition
of “Tender Offer”, as amended by the provisions opposite the caption “Announcement Event” in Section 3) and (y) “Extraordinary
Dividend” means any cash dividend on the Shares.

 

		(z)	2018 ISDA U.S. Resolution Stay Protocol. [The parties agree that (i) to the extent that
prior to the date hereof both parties have adhered to the 2018 ISDA U.S. Resolution Stay Protocol (the “Protocol”), the terms
of the Protocol are incorporated into and form a part of the Agreement, and for such purposes the Agreement shall be deemed a Protocol
Covered Agreement and each party shall be deemed to have the same status as Regulated Entity and/or Adhering Party as applicable to it
under the Protocol; (ii) to the extent that prior to the date hereof the parties have executed a separate agreement the effect of which
is to amend the qualified financial contracts between them to conform with the requirements of the QFC Stay Rules (the “Bilateral
Agreement”), the terms of the Bilateral Agreement are incorporated into and form a part of the Agreement and each party shall
be deemed to have the status of “Covered Entity” or “Counterparty Entity” (or other similar term) as applicable
to it under the Bilateral Agreement; or (iii) if clause (i) and clause (ii) do not apply, the terms of Section 1 and Section 2 and the
related defined terms (together, the “Bilateral Terms”) of the form of bilateral template entitled “Full-Length
Omnibus (for use between U.S. G-SIBs and Corporate Groups)” published by ISDA on November 2, 2018 (currently available on the 2018
ISDA U.S. Resolution Stay Protocol page at www.isda.org and, a copy of which is available upon request), the effect of which
is to amend the qualified financial contracts between the parties thereto to conform with the requirements of the QFC Stay Rules, are
hereby incorporated into and form a part of the Agreement, and for such purposes the Agreement shall be deemed a “Covered Agreement,”
Dealer shall be deemed a “Covered Entity” and Counterparty shall be deemed a “Counterparty Entity.” In the event
that, after the date of the Agreement, both parties hereto become adhering parties to the Protocol, the terms of the Protocol will replace
the terms of this paragraph. In the event of any inconsistencies between the Agreement and the terms of the Protocol, the Bilateral Agreement
or the Bilateral Terms (each, the “QFC Stay Terms”), as applicable, the QFC Stay Terms will govern. Terms used in this
paragraph without definition shall have the meanings assigned to them under the QFC Stay Rules. For purposes of this paragraph, references
to “the Agreement” include any related credit enhancements entered into between the parties or provided by one to the other.
“QFC Stay Rules” means the regulations codified at 12 C.F.R. 252.2, 252.81–8, 12 C.F.R. 382.1-7 and 12 C.F.R.
47.1-8, which, subject to limited exceptions, require an express recognition of the stay-and-transfer powers of the FDIC under the Federal
Deposit Insurance Act and the Orderly Liquidation Authority under Title II of the Dodd Frank Wall Street Reform and Consumer Protection
Act and the override of default rights related directly or indirectly to the entry of an affiliate into certain insolvency proceedings
and any restrictions on the transfer of any covered affiliate credit enhancements.]

 

		(aa)	CARES Act. Counterparty acknowledges that the Transaction may constitute a purchase of its
equity securities or a capital distribution. Counterparty further acknowledges that, pursuant to the provisions of the Coronavirus Aid,
Relief and Economic Security Act (the “CARES Act”), Counterparty will be required to agree to certain time-bound restrictions
on its ability to purchase its equity securities or make capital distributions if it receives loans, loan guarantees or direct loans (as
that term is defined in the CARES Act) under section 4003(b) of the CARES Act. Counterparty further acknowledges that it may be required
to agree to certain time-bound restrictions on its ability to purchase its equity securities or make capital distributions if it receives
loans, loan guarantees or direct loans (as that term is defined in the CARES Act) under programs or facilities established by the Board
of Governors of the Federal Reserve System, the U.S. Department of Treasury or similar governmental entity for the purpose of providing
liquidity to the financial system. Accordingly, Counterparty represents and warrants that neither it, nor any of its subsidiaries have
applied, and have no present intention to apply, for a loan, loan guarantee, direct loan (as that term is defined in the CARES
Act) or other investment, or to receive any financial assistance or relief (howsoever defined) under any program or facility that (a)
is established under applicable law (whether in existence as of the Trade Date or subsequently enacted, adopted or amended), including
without limitation the CARES Act and the Federal Reserve Act, as amended, and (b) requires under applicable law (or any regulation, guidance,
interpretation or other pronouncement thereunder), as a condition of such loan, loan guarantee, direct loan (as that term is defined in
the CARES Act), investment, financial assistance or relief, that Counterparty comply with any requirement to, or otherwise agree, attest,
certify or warrant that it has not, as of the date specified in such condition, repurchased, or will not repurchase, any equity security
of Counterparty; provided that Counterparty may apply for any such governmental assistance if Counterparty determines
based on the advice of nationally recognized outside counsel that the terms of the Transaction would not cause Counterparty to fail to
satisfy any condition for application for or receipt or retention of such governmental assistance based on the terms of the relevant program
or facility as of the date of such advice. Counterparty further represents and warrants that the Premium is not being paid, in whole or
in part, directly or indirectly, with funds received under or pursuant to any program or facility, including the U.S. Small Business Administration’s
“Paycheck Protection Program”, that (a) is established under applicable law, including without limitation the CARES Act and
the Federal Reserve Act, as amended, and (b) requires under such applicable law (or any regulation, guidance, interpretation or other
pronouncement of a governmental authority with jurisdiction for such program or facility) that such funds be used for specified or enumerated
purposes that do not include the purchase of the Transaction (either by specific reference to the Transaction or by general reference
to transactions with the attributes of the Transaction in all relevant respects).

 

    25

     

    

 

Please confirm that the foregoing
correctly sets forth the terms of the agreement between Dealer and Counterparty with respect to the Transaction, by manually signing this
Confirmation or this page hereof as evidence of agreement to such terms and providing the other information requested herein and returning
an executed copy to Dealer.

 

	 	Very truly yours,
	 	 
	 	[DEALER]

                                                 

	 	By:	                       
	 	Authorized Signatory
	 	Name:

 

Accepted and confirmed

as of the Trade Date:

 

	Envestnet, Inc.	 
	 	 
	By:	                     	 
	Authorized Signatory	 
	Name:

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