Document:

EX-4.1

 Exhibit 4.1 
  

 
  

RAMBUS INC., 
 as Issuer

  
  

U.S. BANK NATIONAL ASSOCIATION, 

as Trustee 
  

 
 1.375%
CONVERTIBLE SENIOR NOTES DUE 2023 
  
  

INDENTURE 
  

 
 DATED AS OF
NOVEMBER 17, 2017 
  

 TABLE OF CONTENTS 

 

							
	 	  	 	  	PAGE	 
	ARTICLE 1	 
	DEFINITIONS AND INCORPORATION BY REFERENCE	 
			
	 Section 1.01.
	  	Definitions	  	 	1	 
	 Section 1.02.
	  	Rules of Construction	  	 	9	 
	
	ARTICLE 2	 
	THE SECURITIES	 
			
	 Section 2.01.
	  	 Title and Terms; Principal and Interest
	  	 	10	 
	 Section 2.02.
	  	Denominations	  	 	11	 
	 Section 2.03.
	  	Form and Dating	  	 	11	 
	 Section 2.04.
	  	Execution and Authentication	  	 	12	 
	 Section 2.05.
	  	Registrar, Paying Agent and Conversion Agent	  	 	13	 
	 Section 2.06.
	  	Paying Agent to Hold Money and Securities in Trust	  	 	14	 
	 Section 2.07.
	  	Holder Lists	  	 	14	 
	 Section 2.08.
	  	Transfer and Exchange	  	 	15	 
	 Section 2.09.
	  	Restrictions on Transfer	  	 	15	 
	 Section 2.10.
	  	Replacement Securities	  	 	19	 
	 Section 2.11.
	  	Outstanding Securities	  	 	20	 
	 Section 2.12.
	  	Treasury Securities	  	 	21	 
	 Section 2.13.
	  	Temporary Securities	  	 	21	 
	 Section 2.14.
	  	Cancellation of Securities Paid, Converted, Etc	  	 	21	 
	 Section 2.15.
	  	Additional Transfer and Exchange Requirements	  	 	21	 
	 Section 2.16.
	  	Repurchases	  	 	23	 
	 Section 2.17.
	  	CUSIP Numbers	  	 	23	 
	 Section 2.18.
	  	Persons Deemed Owners	  	 	24	 
	
	ARTICLE 3	 
	NO OPTIONAL REDEMPTION	 
			
	 Section 3.01.
	  	No Optional Redemption	  	 	24	 
	
	ARTICLE 4	 
	PUT OPTION UPON FUNDAMENTAL CHANGE	 
			
	 Section 4.01.
	  	Repurchase of Securities at Option of Holders Upon a Fundamental Change	  	 	24	 
	 Section 4.02.
	  	Effect of Fundamental Change Repurchase Notice; Withdrawal	  	 	29	 
	 Section 4.03.
	  	Deposit of Fundamental Change Repurchase Price	  	 	30	 
	 Section 4.04.
	  	Securities Repurchased in Part	  	 	31	 
	 Section 4.05.
	  	Repayment to the Company	  	 	31	 

  
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	 Section 4.06.
	  	Compliance with Securities Laws upon Repurchase of Securities	  	 	31	 
	
	ARTICLE 5	 
	CONVERSION	 
			
	 Section 5.01.
	  	Conversion Privilege	  	 	31	 
	 Section 5.02.
	  	Conversion Procedures	  	 	34	 
	 Section 5.03.
	  	Settlement upon Conversion	  	 	36	 
	 Section 5.04.
	  	Taxes on Conversion	  	 	37	 
	 Section 5.05.
	  	Company to Provide Stock	  	 	37	 
	 Section 5.06.
	  	Adjustment of Conversion Rate	  	 	38	 
	 Section 5.07.
	  	No Adjustment	  	 	45	 
	 Section 5.08.
	  	Adjustments of Prices	  	 	46	 
	 Section 5.09.
	  	Adjustment for Tax Purposes	  	 	46	 
	 Section 5.10.
	  	Notice of Adjustment	  	 	46	 
	 Section 5.11.
	  	Adjustment to Conversion Rate upon Certain Fundamental Changes	  	 	47	 
	 Section 5.12.
	  	Notice of Certain Transactions	  	 	48	 
	 Section 5.13.
	  	Effect of Reclassification, Consolidation, Merger or Sale on Conversion Privilege	  	 	49	 
	 Section 5.14.
	  	Trustee’s Disclaimer	  	 	50	 
	 Section 5.15.
	  	Stockholder Rights Plan	  	 	50	 
	 Section 5.16.
	  	Exchange in Lieu of Conversion	  	 	50	 
	 Section 5.17.
	  	Company Determination Final	  	 	51	 
	
	ARTICLE 6	 
	COVENANTS	 
			
	 Section 6.01.
	  	Payment of Securities	  	 	51	 
	 Section 6.02.
	  	Reports and Certain Information	  	 	52	 
	 Section 6.03.
	  	Compliance Certificates	  	 	52	 
	 Section 6.04.
	  	Maintenance of Corporate Existence	  	 	52	 
	 Section 6.05.
	  	Rule 144A Information Requirement	  	 	53	 
	 Section 6.06.
	  	Stay, Extension and Usury Laws	  	 	54	 
	 Section 6.07.
	  	Maintenance of Office or Agency of the Trustee, Registrar, Paying Agent and Conversion Agent	  	 	54	 
	
	ARTICLE 7	 
	CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE	 
			
	 Section 7.01.
	  	Company May Consolidate, Etc., Only on Certain Terms	  	 	55	 
	 Section 7.02.
	  	Successor Substituted	  	 	55	 
	
	ARTICLE 8	 
	DEFAULT AND REMEDIES	 
			
	 Section 8.01.
	  	Events of Default	  	 	55	 
	 Section 8.02.
	  	Acceleration	  	 	57	 

  
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	 Section 8.03.
	  	Other Remedies	  	 	57	 
	 Section 8.04.
	  	Sole Remedy for Failure to Report	  	 	58	 
	 Section 8.05.
	  	Waiver of Defaults and Events of Default	  	 	58	 
	 Section 8.06.
	  	Control by Majority	  	 	59	 
	 Section 8.07.
	  	Limitations on Suits	  	 	59	 
	 Section 8.08.
	  	Rights of Holders to Receive Payment and to Convert	  	 	59	 
	 Section 8.09.
	  	Collection Suit by Trustee	  	 	59	 
	 Section 8.10.
	  	Trustee May File Proofs of Claim	  	 	60	 
	 Section 8.11.
	  	Priorities	  	 	60	 
	 Section 8.12.
	  	Undertaking for Costs	  	 	60	 
	 Section 8.13.
	  	Notice of Defaults	  	 	61	 
	
	ARTICLE 9	 
	TRUSTEE	 
			
	 Section 9.01.
	  	Certain Duties and Responsibilities of Trustee	  	 	61	 
	 Section 9.02.
	  	Certain Rights of Trustee	  	 	62	 
	 Section 9.03.
	  	Trustee Not Responsible for Recitals or Issuance or Securities	  	 	64	 
	 Section 9.04.
	  	May Hold Securities	  	 	64	 
	 Section 9.05.
	  	Moneys Held in Trust	  	 	64	 
	 Section 9.06.
	  	Compensation and Reimbursement	  	 	65	 
	 Section 9.07.
	  	Reliance on Officer’s Certificate	  	 	65	 
	 Section 9.08.
	  	Disqualification; Conflicting Interests	  	 	65	 
	 Section 9.09.
	  	Corporate Trustee Required; Eligibility	  	 	66	 
	 Section 9.10.
	  	Resignation and Removal; Appointment of Successor	  	 	66	 
	 Section 9.11.
	  	Acceptance of Appointment by Successor	  	 	67	 
	 Section 9.12.
	  	Merger, Conversion, Consolidation or Succession to Business	  	 	68	 
	
	ARTICLE 10	 
	AMENDMENTS, SUPPLEMENTS AND WAIVERS	 
			
	 Section 10.01.
	  	Without Consent of Holders	  	 	68	 
	 Section 10.02.
	  	With Consent of Holders	  	 	69	 
	 Section 10.03.
	  	Revocation and Effect of Consents	  	 	70	 
	 Section 10.04.
	  	Notation on or Exchange of Securities	  	 	70	 
	 Section 10.05.
	  	Trustee to Sign Amendments, Etc	  	 	70	 
	 Section 10.06.
	  	Effect of Supplemental Indentures	  	 	71	 
	
	ARTICLE 11	 
	[RESERVED]	 
	
	ARTICLE 12	 
	SATISFACTION AND DISCHARGE	 
			
	 Section 12.01.
	  	Satisfaction and Discharge of the Indenture	  	 	71	 
	 Section 12.02.
	  	Repayment to the Company	  	 	72	 

  
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	ARTICLE 13	 
	MISCELLANEOUS	 
			
	 Section 13.01.
	  	Notices	  	 	72	 
	 Section 13.02.
	  	Certificate and Opinion as to Conditions Precedent	  	 	73	 
	 Section 13.03.
	  	Record Date for Vote or Consent of Holders	  	 	73	 
	 Section 13.04.
	  	Rules by Trustee, Paying Agent, Registrar and Conversion Agent	  	 	74	 
	 Section 13.05.
	  	Legal Holidays	  	 	74	 
	 Section 13.06.
	  	Governing Law	  	 	74	 
	 Section 13.07.
	  	No Adverse Interpretation of Other Agreements	  	 	74	 
	 Section 13.08.
	  	No Recourse Against Others	  	 	74	 
	 Section 13.09.
	  	Successors	  	 	74	 
	 Section 13.10.
	  	Multiple Counterparts	  	 	74	 
	 Section 13.11.
	  	Separability	  	 	74	 
	 Section 13.12.
	  	Calculations in Respect of the Securities	  	 	74	 
	 Section 13.13.
	  	Table of Contents, Headings, Etc	  	 	75	 

 Exhibit A Form of Note: 
  

	 	-	Assignment Form 

	 	-	Form of Conversion Notice 

	 	-	Form of Fundamental Change Repurchase Notice 

  
 iv 

 THIS INDENTURE, dated as of November 17, 2017, is between Rambus Inc., a Delaware
corporation (the “Company”), and U.S. Bank National Association, a national banking association, as trustee (the “Trustee”). 

Recitals 
 The Company has
duly authorized the creation of an issue of its 1.375% Convertible Senior Notes due 2023 (herein called the “Initial Securities” and together with any Additional Securities, the “Securities”) of substantially
the tenor and amount hereinafter set forth, and to provide the terms and conditions upon which the Securities are to be authenticated, issued and delivered, the Company has duly authorized the execution and delivery of this Indenture. 

All things necessary to make the Securities, when executed by the Company and authenticated and delivered as provided herein and duly issued
by the Company, the valid obligations of the Company, and to make this Indenture a valid agreement of the Company, in accordance with their and its terms, have been done. 

NOW, THEREFORE, THIS INDENTURE WITNESSETH: 

For and in consideration of the premises and the purchase of the Securities by the Holders thereof, it is mutually agreed, for the equal and
proportionate benefit of all Holders of the Securities, as follows: 
 ARTICLE 1 

DEFINITIONS AND INCORPORATION BY REFERENCE 

Section 1.01. Definitions. 

“Additional Interest” has the meaning specified in Section 8.04. 

“Additional Securities” means an unlimited maximum aggregate principal amount of Securities (other than the Initial
Securities) issued under this Indenture. 
 “Additional Shares” has the meaning specified in Section 5.11. 

“Affiliate” of any specified Person means any other Person directly or indirectly controlling or controlled by or under
direct or indirect common control with such specified Person. For purposes of this definition, “control” (including, with correlative meanings, the terms “controlling,” “controlled by” and “under common control
with”), as used with respect to any Person, shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such Person, whether through the ownership of voting securities, by
agreement or otherwise. 
 “Agent” means any Registrar, Paying Agent, or Conversion Agent. 

“Agent Members” has the meaning set forth in Section 2.03(c). 

 

 “Applicable Procedures” means, with respect to any transfer or exchange of
beneficial ownership interests in a Global Security, the rules and procedures of the Depositary, in each case to the extent applicable to such transfer or exchange. 

“Bankruptcy Law” means Title 11 of the United States Code (or any successor thereto) or any similar federal or state law for
the relief of debtors. 
 “beneficial owner” has the meaning set forth in Section 4.01(a). 

“Bid Solicitation Agent” means either (i) the Company or (ii) a nationally-recognized securities dealer, or an
Affiliate thereof, selected by the Company in its sole discretion to solicit bids as contemplated by Section 5.01(a). The Company shall initially be the Bid Solicitation Agent. 

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

“Business Day” means each day that is not a Legal Holiday. 

“Capital Stock” has the meaning set forth in Section 4.01(a). 

“cash” means such coin or currency of the United States as at any time of payment is legal tender for the payment of public
and private debts. 
 “Cash Percentage” has the meaning set forth in Section 5.03(a). 

“Certificated Security” means a Security that is in substantially the form attached hereto as Exhibit A and that does
not include the information or the schedule called for by footnotes 1 and 3 thereof. 
 “Close of Business” means
4:00 p.m. New York City time. 
 “Common Stock” means any stock of any class of the Company which has no
preference in respect of dividends or of amounts payable in the event of any voluntary or involuntary liquidation, dissolution or winding-up of the Company and which is not subject to redemption by the
Company. Subject to the provisions of Section 5.13, however, shares issuable on conversion of Securities shall include only shares of the class designated as Common Stock, par value $0.001, of the Company at the date of this Indenture or shares
of any class or classes resulting from any reclassification or reclassifications thereof and which have no preference in respect of dividends or of amounts payable in the event of any voluntary or involuntary liquidation, dissolution or winding-up of the Company and which are not subject to redemption by the Company; provided, however, that if at any time there shall be more than one such resulting class, the shares of each such class
then so issuable shall be substantially in the proportion which the total number of shares of such class resulting from all such reclassifications bears to the total number of shares of all such classes resulting from all such reclassifications.

  
 2 

 “Company” means the party named as such in the first paragraph of this Indenture
until a successor replaces it pursuant to the applicable provisions of this Indenture, and thereafter “Company” shall mean such successor Company. 

“Company Order” has the meaning specified in Section 2.04(d). 

“Conversion Agent” has the meaning set forth in Section 2.05. 

“Conversion Date” has the meaning set forth in Section 5.02(a). 

“Conversion Notice” has the meaning set forth in Section 5.02(a). 

“Conversion Obligation” has the meaning set forth in Section 5.01(a). 

“Conversion Price” means, per share of Common Stock, at any time, $1,000 divided by the then-applicable Conversion Rate,
rounded to the nearest cent, subject to adjustment as set forth herein. 
 “Conversion Rate” means initially 52.8318 shares
of Common Stock per $1,000 principal amount of Securities, subject to adjustment as set forth herein. 
 “Corporate Trust
Office” means the office of the Trustee at which at any time the trust created by this Indenture shall be administered, which office at the date of the execution of this Indenture is located at U.S. Bank National Association, 633 West Fifth
Street, 24th Floor, Los Angeles, CA 90071, attention: P. Oswald (Rambus Inc. 1.375% Convertible Senior Notes due 2023). 

“Custodian” means any receiver, trustee, assignee, liquidator, sequestrator or similar official under any Bankruptcy Law.

 “Daily Conversion Value” means, for each of the 20 consecutive Trading Days during the Observation Period, one-twentieth (1/20th) of the product of (i) the Conversion Rate on such day and (ii) the Daily VWAP of the Common Stock on such day. 

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

(a) if the Company does not elect a Cash Percentage as set forth herein, a number of shares of Common Stock equal to (i) the difference
between the Daily Conversion Value and $50, divided by (ii) the Daily VWAP for such Trading Day; 

  
 3 

 (b) if the Company elects a Cash Percentage of 100% as set forth herein, cash in an amount equal
to the difference between the Daily Conversion Value and $50; or 
 (c) if the Company elects a Cash Percentage of less than 100% as set
forth herein, (i) cash equal to the product of (x) the difference between the Daily Conversion Value and $50 and (y) the Cash Percentage, plus (ii) a number of shares of Common Stock equal to the product of (x)(A) the
difference between the Daily Conversion Value and $50, divided by (B) the Daily VWAP for such Trading Day and (y) 100% minus the Cash Percentage. 

“Daily Settlement Amount” has the meaning set forth in Section 5.03(a). 

“Daily VWAP” means, for each of the 20 consecutive Trading Days during the relevant Observation Period, the per share
volume-weighted average price as displayed under the heading “Bloomberg VWAP” on Bloomberg page “RMBS <EQUITY> AQR” (or its equivalent successor if such Bloomberg page is not available) in respect of the period from the
scheduled open of trading until the scheduled close of trading of the primary trading session on such Trading Day (or if such volume-weighted average price is unavailable, the market value of one share of Common Stock on such Trading Day reasonably
determined, using a volume-weighted average method, by a nationally recognized independent investment banking firm retained for this purpose by the Company). The Daily VWAP will be determined without regard to after-hours trading or any other
trading outside of the regular trading session trading hours. 
 “Default” or “default” means, when used
with respect to the Securities, any event which is or, after notice or passage of time or both, would be an Event of Default. 

“Depositary” has the meaning set forth in Section 2.03(b). 

“Designated Institution” has the meaning set forth in Section 5.16(a). 

“Event of Default” has the meaning set forth in Section 8.01. 

“Ex Date” has the meaning set forth in Section 5.01(a)(iii). 

“Exchange Act” means the United States Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated
thereunder, as in effect from time to time. 
 “Fundamental Change” has the meaning set forth in Section 4.01(a). 

“Fundamental Change Company Notice” has the meaning set forth in Section 4.01(b). 

“Fundamental Change Repurchase Date” has the meaning set forth in Section 4.01(a). 

  
 4 

 “Fundamental Change Repurchase Notice” has the meaning set forth in
Section 4.01(c). 
 “Fundamental Change Repurchase Price” has the meaning set forth in Section 4.01(a). 

“GAAP” means generally accepted accounting principles set forth in the opinions and pronouncements of the Public Company
Accounting Oversight Board and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other entity as have been approved by a significant segment of the accounting profession, which are in
effect from time to time and consistently applied. 
 “Global Security” means a permanent Global Security that is in
substantially the form attached hereto as Exhibit A and that includes the information and schedule called for by footnotes 1 and 3 thereof and which is deposited with the Depositary or its custodian and registered in the name of the
Depositary or its nominee. 
 “Holder” means the Person in whose name a Security is registered on the Registrar’s
books. 
 “Indenture” means this Indenture as amended or supplemented from time to time pursuant to the terms of this
Indenture. 
 “Initial Securities” has the meaning set forth in the Recitals. 

“Interest Payment Date” means February 1 and August 1 of each year, beginning August 1, 2018. 

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

 “Legal Holiday” has the meaning set forth in Section 13.05. 

“Make-Whole Effective Date” has the meaning set forth in Section 5.11(b). 

“Make-Whole Fundamental Change” has the meaning set forth in Section 5.11(a). 

  
 5 

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

“Material Subsidiary” means a Subsidiary that is a significant subsidiary as defined under Rule 1-02(w) of Regulation S-X under the Exchange Act; provided that, in the case of a Subsidiary that meets the criteria of clause (3) of the definition thereof but
not clause (1) or (2) thereof, such Subsidiary shall not be deemed to be a Material Subsidiary unless the Subsidiary’s income from continuing operations before income taxes, extraordinary items and cumulative effect of a change in
accounting principle exclusive of amounts attributable to any non-controlling interests for the last completed fiscal year prior to the date of such determination exceeds $15,000,000. 

“Maturity Date” means February 1, 2023, unless the Securities are earlier converted or repurchased. 

“Measurement Period” has the meaning set forth in Section 5.01(a)(ii). 

“Merger Event” has the meaning set forth in Section 5.13. 

“Notice of Default” means written notice provided to the Company by the Trustee or the Holders of not less than 25% in
aggregate principal amount of Securities then outstanding (with a copy to the Trustee if given by the Holders) of a Default by the Company, which notice must specify the Default, demand that it be remedied and expressly state that such notice is a
“Notice of Default.” 
 “Observation Period” means (a) for Securities that are converted prior to
November 1, 2022, the 20 consecutive Trading Days beginning on, and including, the second Trading Day immediately succeeding the Conversion Date; and (b) in all other instances, the 20 consecutive Trading Days beginning on, and including,
the 21st Scheduled Trading Day immediately preceding the Maturity Date. 

“Offering Memorandum” means the preliminary offering memorandum dated November 13, 2017, as supplemented by the related
pricing term sheet dated November 14, 2017, relating to the offering and sale of the Securities. 
 “Officer” means,
with respect to any Person, the Chairman of the Board, the Chief Executive Officer, the President, the Chief Operating Officer, the Chief Financial Officer, the Treasurer, any Assistant Treasurer, the Controller, the Secretary, Assistant Secretary
or any Vice President of such Person. 

  
 6 

 “Officer’s Certificate” means a certificate signed by at least one Officer
of the Company; provided, however, that for purposes of Section 5.14 and 6.03, “Officer’s Certificate” means a certificate signed by the principal executive officer, principal financial officer or principal accounting
officer of the Company. 
 “Opening of Business” means 9:00 a.m., New York City time. 

“Opinion of Counsel” means a written opinion from legal counsel who is reasonably acceptable to the Trustee. The counsel may
be an employee of or counsel to the Company. 
 “Paying Agent” has the meaning set forth in Section 2.05. 

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

“Public Stock-for-Stock Exception” has the
meaning set forth in Section 4.01(a). 
 “publicly traded securities” has the meaning set forth in
Section 4.01(a). 
 “Record Date” means, with respect to the payment of interest on the Securities, the
January 15 (whether or not a Business Day) immediately preceding an Interest Payment Date on February 1 and the July 15 (whether or not a Business Day) immediately preceding an Interest Payment Date on August 1. 

“Reference Property” has the meaning set forth in Section 5.13. 

“Register” has the meaning set forth in Section 2.05. 

“Registrar” has the meaning set forth in Section 2.05. 

“Reporting Obligations” has the meaning set forth in Section 8.04. 

“Resale Restriction Termination Date” has the meaning set forth in Section 2.09(a). 

“Restricted Securities” has the meaning set forth in Section 2.09(a). 

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

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

“SEC” or “Commission” means the United States Securities and Exchange Commission, as from time to time
constituted, created under the Exchange Act. 

  
 7 

 “Security” and “Securities” have the meaning set forth in the
Recitals and include the Initial Securities and any Additional Securities. The Initial Securities and Additional Securities shall be treated as a single series for all purposes under this Indenture. 

“Securities Act” means the United States Securities Act of 1933, as amended, and the rules and regulations promulgated
thereunder, as in effect from time to time. 
 “Securities Custodian” means the Trustee, as custodian with respect to the
Global Securities, or any successor thereto. 
 “Settlement Amount” has the meaning set forth in Section 5.03(a). 

“Settlement Notice” has the meaning set forth in Section 5.03(a). 

“Shelf Registration Statement” means a registration statement of the Company filed with the Commission on either
(i) Form S-3 (or any successor form or other appropriate form under the Securities Act) or (ii) if the Company is not permitted to file a registration statement on Form
S-3, an evergreen registration statement on Form S-1 (or any successor form or other appropriate form under the Securities Act), in each case for an offering to be made
on a continuous or delayed basis pursuant to Rule 415 under the Securities Act covering Securities. 
 “Spin-Off” has the meaning set forth in Section 5.06(c). 
 “Stock Price”
has the meaning set forth in Section 5.11(b). 
 “Subsidiary” means, in respect of any Person, any corporation,
association, partnership or other business entity of which more than 50% of the outstanding Voting Stock or other interests (including partnership interests) entitled (without regard to the occurrence of any contingency) to vote in the election of
directors, managers, general partners or trustees thereof is at the time owned or controlled, directly or indirectly, by (i) such Person; (ii) such Person and one or more Subsidiaries of such Person; or (iii) one or more Subsidiaries
of such Person. 
 “TIA” means the United States Trust Indenture Act of 1939, as amended, and the rules and regulations
thereunder as in effect on the date of this Indenture and except to the extent any amendment to the Trust Indenture Act expressly provides for application of the Trust Indenture Act as in effect on another date. 

  
 8 

 “Trading Day” means a day on which (i) trading in the Common Stock (or such
other security for which a closing sale price must be determined) generally occurs on the NASDAQ Global Select Market or, if the Common Stock (or such other security) is not then listed on the NASDAQ Global Select Market, on the principal other U.S.
national or regional securities exchange or quotation system on which the Common Stock (or such other security) is then listed or, if the Common Stock (or such other security) is not then listed on a U.S. national or regional securities exchange, on
the principal other market or quotation system on which the Common Stock (or such other security) is then traded and (ii) a Last Reported Sale Price (or closing sale price for such other security) is available on such securities exchange or
market. For purposes of determining amounts due upon conversion pursuant to Article 5 only, “Trading Day” means a day on which (a) there is no Market Disruption Event and (b) trading in the Common Stock generally occurs on
The NASDAQ Global Select Market or, if the Common Stock is not then listed on The NASDAQ Global Select Market, on the principal other U.S. national or regional securities exchange on which the Common Stock is then listed or, if the Common Stock is
not then listed on a U.S. national or regional securities exchange, on the principal other market on which the Common Stock is then listed or admitted for trading. If the Common Stock (or such other security) is not so listed or traded,
“Trading Day” means a “Business Day.” 
 “Trading Price” means, on any date of determination,
the average of the secondary market bid quotations per $1,000 principal amount of the Securities obtained by the Bid Solicitation Agent for $5,000,000 aggregate principal amount of the Securities at approximately 3:30 p.m., New York City time, on
such determination date from three independent nationally recognized securities dealers that the Company selects, which may include any of the initial purchasers of the Initial Securities; provided that if three such bids cannot reasonably be
obtained by the Bid Solicitation Agent, but two such bids are obtained, then the average of the two bids shall be used, and if only one such bid can reasonably be obtained by the Bid Solicitation Agent, that one bid shall be used. If the Bid
Solicitation Agent cannot reasonably obtain at least one bid for $5,000,000 principal amount of the Securities from a nationally recognized securities dealer, then the Trading Price per $1,000 principal amount of the Securities will be deemed to be
less than 98% of the product of the Last Reported Sale Price of the Common Stock for such Trading Day and the applicable Conversion Rate for such date of determination. 

“Trigger Event” has the meaning set forth in Section 5.06(b). 

“Trustee” means the party named as such in the first paragraph of this Indenture until a successor replaces it pursuant to
the applicable provisions of this Indenture, and thereafter “Trustee” should mean such successor Trustee. 
 “Trust
Officer” means, with respect to the Trustee, any officer assigned to the Corporate Trust Office who shall have direct responsibility for the administration of this Indenture, and also, with respect to a particular corporate trust matter
related to this Indenture, any other officer to whom such matter is referred because of such officer’s knowledge of and familiarity with the particular subject. 

“Valuation Period” has the meaning set forth in Section 5.06(c). 

“Vice President” when used with respect to the Company or the Trustee, means any vice president, whether or not designated by
a number or a word or words added before or after the title “vice president.” 
 “Voting Stock” has the meaning
set forth in Section 4.01(a). 

  
 9 

 Section 1.02. Rules of Construction. Unless the context otherwise requires: 

(a) a term has the meaning assigned to it herein; 

(b) an accounting term not otherwise defined has the meaning assigned to it in accordance with GAAP; 

(c) words in the singular include the plural, and words in the plural include the singular; 

(d) provisions apply to successive events and transactions; 

(e) the term “merger” includes a statutory share exchange and the term “merged” has a correlative meaning; 

(f) the masculine gender includes the feminine and the neuter; 

(g) references to agreements and other instruments include subsequent amendments thereto; 

(h) “herein,” “hereof,” “hereunder,” “hereinafter” and other words of similar import refer to this
Indenture as a whole and not to any particular Article, Section or other subdivision; and 
 (i) unless the context otherwise requires,
any reference to an “Article” or a “Section” refers to an Article or Section, as the case may be, of this Indenture. 

ARTICLE 2 
 THE
SECURITIES 
 Section 2.01. Title and Terms; Principal and Interest. The aggregate principal amount of Initial
Securities which may be authenticated and delivered under this Indenture is limited to $172,500,000 and the aggregate amount of Additional Securities is unlimited, except for Securities authenticated and delivered upon registration of transfer of,
or in exchange for, or in lieu of, other Securities pursuant to Section 2.08, Section 2.09, Section 2.13, Section 2.15, Section 4.04 and Section 5.02. 

The Initial Securities and the Additional Securities, if any, shall be known and designated as the “1.375% Convertible Senior Notes due
2023” of the Company. 
 The Securities shall mature February 1, 2023. 

The Securities shall bear interest at the rate of 1.375% per annum, from November 17, 2017 or from the most recent Interest Payment Date
to which interest has been paid or duly provided for, as the case may be, semi-annually in arrears, on February 1 and August 1 of each year, commencing on August 1, 2018, until the principal thereof is paid or made available for
payment. Interest (including Additional Interest, if any) will be computed on the basis of a 360-day year composed of twelve 30-day months. Interest will cease to accrue
on a Security upon the Maturity Date, conversion or repurchase by the Company at the option of the Holder pursuant to Section 4.01. 

  
 10 

 Principal and interest (including Additional Interest, if any) on Global Securities shall be
payable in the manner set forth in Section 6.01. 
 The Securities shall be convertible as provided in Article 5. 

Section 2.02. Denominations. The Securities shall be issuable only in registered form without coupons and only in denominations of
$1,000 and any multiple thereof. 
 Section 2.03. Form and Dating. (a) The Securities and the corresponding Trustee’s
certificate of authentication shall be substantially in the respective forms set forth in Exhibit A, which Exhibit is incorporated in and made part of this Indenture. The Securities may have notations, legends or endorsements required by law,
exchange rule, Applicable Procedures or usage. The Company shall provide any such notations, legends or endorsements to the Trustee in writing. Each Security shall be dated the date of its authentication. 

The terms and provisions contained in the Securities shall constitute, and are hereby expressly made, a part of this Indenture and the Company
and the Trustee, by their execution and delivery of this Indenture, expressly agree to such terms and provisions and to be bound thereby; provided, however, to the extent permitted by applicable law, if any provision of any Security conflicts
with the express provisions of this Indenture, the provisions of this Indenture shall govern and be controlling. 
 (b) Global
Securities. 
 (i) All of the Securities shall be issued initially in the form of one or more Global Securities, which
shall be deposited on behalf of the purchasers of the Securities represented thereby with the Trustee, at its Corporate Trust Office, as custodian for the depositary, The Depository Trust Company (such depositary, or any successor thereto, being
hereinafter referred to as the “Depositary”), and registered in the name of its nominee, Cede & Co., or as otherwise instructed by the Depositary duly executed by the Company and authenticated by the Trustee as hereinafter
provided. The aggregate principal amount of the Global Securities may from time to time be increased or decreased by adjustments made on the records of the Securities Custodian and the Depositary as hereinafter provided, subject in each case to
compliance with the Applicable Procedures and the provisions of this Indenture. 
 (ii) Each Global Security shall represent
such of the outstanding Securities as shall be specified therein and each shall provide that it shall represent the aggregate amount of outstanding Securities from time to time endorsed thereon and that the aggregate amount of outstanding Securities
represented thereby may from time to time be reduced or increased, as appropriate, to reflect exchanges, purchases or conversions of such Securities. Any adjustment of the aggregate principal amount of a Global Security to reflect the amount of any
increase or decrease in the amount of outstanding Securities represented thereby shall be made by the Trustee in accordance with instructions given by the Holder thereof as required by Section 2.15 hereof and shall be made on the records of the
Trustee and the Depositary. 

  
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 (iii) The Company shall issue and the Trustee shall, upon receipt of a Company
Order (which the Company agrees to deliver without unreasonable delay), authenticate and deliver in accordance with Section 2.04, initially one or more Global Securities that (i) shall be registered in the name of Cede & Co. or as
otherwise instructed by the Depositary, (ii) shall be delivered by the Trustee to the Depositary or to the Securities Custodian pursuant to the Depositary’s instructions and (iii) shall bear legends required for Global Securities as
set forth on Exhibit A hereto. 
 (c) Book Entry Provisions. Members of, or participants in, the Depositary (“Agent
Members”) shall have no rights under this Indenture with respect to any Global Security held on their behalf by the Depositary or under the Global Security, and the Depositary (including, for this purpose, its nominee) may be treated by the
Company, the Trustee and any agent of the Company or the Trustee as the absolute owner and Holder of such Global Security for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall (i) prevent the Company, the Trustee or
any agent of the Company or the Trustee from giving effect to any written certification, proxy or other authorization furnished by the Depositary, or such nominee, as the case may be, or (ii) impair, as between the Depositary and its Agent
Members, the Applicable Procedures or the operation of customary practices governing the exercise of the rights of a Holder of any Security. Neither the Trustee nor any Agent shall have any responsibility for any actions taken or not taken by the
Depositary or for the Applicable Procedures. 
 (d) Certificated Securities. Certificated Securities will be issued only under the
limited circumstances provided in Section 2.15(a)(i). 
 Section 2.04. Execution and Authentication. (a) An
Officer of the Company shall sign the Securities for the Company by manual or facsimile signature. Typographic and other minor errors or defects in any such facsimile signature shall not affect the validity or enforceability of any Security that has
been authenticated and delivered by the Trustee. 
 (b) If an Officer of the Company whose signature is on a Security no longer holds that
office at the time the Trustee authenticates the Security, the Security shall be valid nevertheless. 
 (c) A Security shall not be valid
until an authorized signatory of the Trustee manually signs the certificate of authentication on the Security. The signature shall be conclusive evidence that the Security has been authenticated under this Indenture. 

  
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 (d) The Trustee shall initially authenticate and make available for delivery Securities for
original issue in the aggregate principal amount of up to $172,500,000 upon receipt of a written order or orders of the Company signed by an Officer of the Company (a “Company Order”). Each Company Order shall specify the amount of
Securities to be authenticated, shall provide that all such Securities be represented by a Global Security and the date on which each original issue of Securities is to be authenticated. The Company may, without the consent of the Holders, issue
Additional Securities with the same terms and with the same CUSIP number as the Initial Securities in an unlimited aggregate principal amount; provided, however that if any such Additional Notes are not fungible with the Initial Securities
for U.S. federal income tax purposes, such Additional Notes will have one or more separate CUSIP numbers. Except as provided in Section 2.10, the Trustee shall authenticate Additional Securities thereafter in unlimited aggregate principal
amount for original issue upon a Company Order of the Company in aggregate principal amount as specified in such Company Order; provided that the Trustee shall be entitled to receive an Officer’s Certificate and an Opinion of Counsel of
the Company with respect to the issuance, authentication and delivery of such Additional Securities. Such Additional Securities shall have identical terms to the Initial Securities except for issuance dates and prices and with respect to interest
accruing prior to their date of issuance, and will constitute the same series as the Initial Securities for all purposes hereunder, including, without limitation, waivers, amendments and offers to purchase. 

(e) The Trustee shall act as the initial authenticating agent. Thereafter, the Trustee may appoint an authenticating agent acceptable to
the Company to authenticate Securities. An authenticating agent may authenticate Securities whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such agent. An authenticating
agent shall have the same rights as an Agent to deal with the Company or an Affiliate of the Company. 
 Section 2.05. Registrar,
Paying Agent and Conversion Agent. The Company shall maintain an office or agency where Securities may be presented for registration of transfer or for exchange (the “Registrar”), an office or agency where Securities may be
presented for purchase or payment (the “Paying Agent”), an office or agency where Securities may be presented for conversion (the “Conversion Agent”) and an office or agency where notices and demands to or upon
the Company in respect of the Securities and this Indenture may be served. Pursuant to Section 6.07, the Company shall at all times maintain a Paying Agent, Conversion Agent and Registrar and an office or agency where notices and demands to or
upon the Company in respect of the Securities and this Indenture may be served. The Registrar shall keep a register of the Securities (the “Register”) and of their transfer and exchange. 

The Company may have one or more co-registrars, one or more additional paying agents and one or more
additional conversion agents. The term Registrar includes any co-registrar, including any named pursuant to Section 6.07. The term Paying Agent includes any additional paying agent, including any named
pursuant to Section 6.07. The term Conversion Agent includes any additional conversion agent, including any named pursuant to Section 6.07. 

  
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 The Company shall enter into an appropriate agency agreement with any Agent not a party to this
Indenture. The agreement shall implement the provisions of this Indenture that relate to such Agent. The Company shall notify the Trustee of the name and address of any Agent not a party to this Indenture. If the Company fails to maintain a
Registrar, Paying Agent, Conversion Agent or agent for service of notices and demands in any place required by this Indenture, or fails to give the foregoing notice, the Trustee shall act as such; provided, however, that the Trustee
shall not be an agent of the Company for the purpose of effecting service of legal process on the Company. The Company or any Affiliate of the Company may act as Paying Agent. 

The Company hereby initially appoints the Trustee as Registrar, Paying Agent and Conversion Agent in connection with the Securities. 

Section 2.06. Paying Agent to Hold Money and Securities in Trust. Prior to 10:00 a.m., New York City time, on each due date of
payments in respect of, or delivery of cash or a combination of cash and shares of Common Stock, as applicable, upon conversion of, any Security in accordance with this Indenture, the Company shall deposit with the Paying Agent cash (in immediately
available funds if deposited on the due date) and/or with the Conversion Agent such number of shares of Common Stock sufficient to make such payments or deliveries when so becoming due. The Company shall require each Paying Agent or Conversion
Agent, as applicable (other than the Trustee), to agree in writing that such Agent shall hold in trust for the benefit of Holders or the Trustee all cash or shares of Common Stock, as applicable, held by such Agent for the making of payments or
deliveries in respect of the Securities and shall notify the Trustee of any default by the Company in making any such payment or delivery. If the Company or an Affiliate of the Company acts as Paying Agent or Conversion Agent, as applicable, it
shall segregate the cash and shares of Common Stock, as applicable, held by it as Paying Agent or Conversion Agent, as applicable, and hold it as a separate trust fund. 

The Company at any time may require a Paying Agent or Conversion Agent, as applicable, to pay all cash or shares of Common Stock held by it to
the Trustee, and the Trustee may at any time during the continuance of any default, upon written request to the Paying Agent or the Conversion Agent, as applicable, require such Paying Agent or Conversion Agent, as applicable, to pay forthwith to
the Trustee all cash or shares of Common Stock, as applicable, so held in trust by such Paying Agent or Conversion Agent. Upon doing so, the Paying Agent or the Conversion Agent, as applicable, shall have no further liability for the cash or shares
of Common Stock, as applicable. 
 Section 2.07. Holder Lists. The Trustee shall preserve in as current a form as is reasonably
practicable the most recent list available to it of the names and addresses of the Holders. If the Trustee is not the Registrar, the Company shall furnish to the Trustee on or before each Interest Payment Date, and at such other times as the Trustee
may request in writing, a list of the names and addresses of the Holders in such form and as of such date as the Trustee may reasonably request. 

  
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 Section 2.08. Transfer and Exchange. 

(a) Subject to compliance with any applicable additional requirements contained in Section 2.09 or Section 2.15, when a Security is
presented to a Registrar with a request to register a transfer thereof or to exchange such Security for an equal principal amount of Securities of other authorized denominations, the Registrar shall register the transfer or make the exchange as
requested; provided, however, that every Security presented or surrendered for registration of transfer or exchange shall be duly endorsed or accompanied by an assignment form, in the form included in Exhibit A attached hereto, and in
form satisfactory to the Registrar duly executed by the Holder thereof or its attorney duly authorized in writing. To permit registration of transfers and exchanges, upon surrender of any Security for registration of transfer or exchange at an
office or agency maintained pursuant to Section 2.05, the Company shall execute and the Trustee shall authenticate Securities of a like aggregate principal amount at the Registrar’s request. Any exchange or transfer shall be without
charge, except that the Company or the Registrar may require payment of a sum sufficient to cover any tax, assessment or other governmental charge that may be imposed in relation thereto. 

None of the Company, any Registrar or the Trustee shall be required to register a transfer or exchange of any Securities for which the Holder
has delivered, and not validly withdrawn, a Fundamental Change Repurchase Notice, except, in the case of a partial repurchase, with respect to that portion of the Securities not being repurchased. 

All Securities issued upon any transfer or exchange of Securities shall be valid obligations of the Company, evidencing the same debt and
entitled to the same benefits under this Indenture, as the Securities surrendered upon such transfer or exchange. 
 (b) Any Registrar
appointed pursuant to Section 2.05 hereof shall provide to the Trustee such information as the Trustee may reasonably request in connection with the delivery by such Registrar of Securities upon transfer or exchange of Securities. 

(c) Each Holder of a Security agrees to indemnify the Company, the Registrar and the Trustee against any liability that may result from the
transfer, exchange or assignment of such Holder’s Security in violation of any provision of this Indenture and/or applicable U.S. federal or state securities law. 

The Trustee shall have no obligation or duty to monitor, determine or inquire as to compliance with any applicable federal or state or other
securities and tax laws (including with respect to any transfers between or among Holders, Agent Members or other beneficial owners of interests in any Global Security) and shall have no duty to obtain documentation relating to any transfers or
exchanges other than as specifically required hereunder. 
 Section 2.09. Restrictions on Transfer. (a) Every Security that
bears or is required under this Section 2.09 to bear the legend set forth in this Section 2.09 (together with any Common Stock issued upon conversion of the Securities that is required to bear the legend set forth in this
Section 2.09, collectively, the “Restricted Securities”) shall be subject to the restrictions on transfer set forth in this Section 2.09 (including the legend set forth below), unless such restrictions on transfer shall be
eliminated or otherwise waived by written consent of the Company, and the Holder of each such Restricted Security, by such Holder’s acceptance thereof, agrees to be bound by all such restrictions on transfer. As used in this Section 2.09,
the term “transfer” encompasses any sale, pledge, transfer or other disposition whatsoever of any Restricted Security. 

  
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 Until the date (the “Resale Restriction Termination Date”) that is the later of
(1) the date that is one year after the last date of original issuance of the Securities, or such shorter period of time as permitted by Rule 144 under the Securities Act or any successor provision thereto, and (2) such later date, if any,
as may be required by applicable law, any certificate evidencing such Securities (and all securities issued in exchange therefor or substitution thereof, other than Common Stock, if any, issued upon conversion thereof, which shall bear the legend
set forth in Section 2.09(b), if applicable) shall bear a legend in substantially the following form (unless such Securities have been transferred pursuant to a registration statement that has become or been declared effective under the
Securities Act and that continues to be effective at the time of such transfer, or sold pursuant to the exemption from registration provided by Rule 144 or any similar provision then in force under the Securities Act, or unless otherwise agreed by
the Company in writing, with notice thereof to the Trustee): 
 THIS SECURITY AND THE COMMON STOCK, IF ANY, ISSUABLE UPON CONVERSION OF THIS
SECURITY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT IN ACCORDANCE WITH THE FOLLOWING SENTENCE. BY ITS
ACQUISITION HEREOF OR OF A BENEFICIAL INTEREST HEREIN, THE ACQUIRER: 
 (1) REPRESENTS THAT IT AND ANY ACCOUNT FOR WHICH IT
IS ACTING IS A “QUALIFIED INSTITUTIONAL BUYER” (WITHIN THE MEANING OF RULE 144A UNDER THE SECURITIES ACT) AND THAT IT EXERCISES SOLE INVESTMENT DISCRETION WITH RESPECT TO EACH SUCH ACCOUNT, AND 

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

  
 16 

 (B) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BECOME EFFECTIVE UNDER THE
SECURITIES ACT, OR 
 (C) TO A QUALIFIED INSTITUTIONAL BUYER IN COMPLIANCE WITH RULE 144A UNDER THE SECURITIES ACT, OR 

(D) PURSUANT TO AN EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE SECURITIES ACT OR ANY OTHER AVAILABLE EXEMPTION
FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. 
 PRIOR TO THE REGISTRATION OF ANY TRANSFER IN ACCORDANCE WITH CLAUSE (2)(D)
ABOVE, THE COMPANY AND THE TRUSTEE RESERVE THE RIGHT TO REQUIRE THE DELIVERY OF SUCH LEGAL OPINIONS, CERTIFICATIONS OR OTHER EVIDENCE AS MAY REASONABLY BE REQUIRED IN ORDER TO DETERMINE THAT THE PROPOSED TRANSFER IS BEING MADE IN COMPLIANCE WITH THE
SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS. NO REPRESENTATION IS MADE AS TO THE AVAILABILITY OF ANY EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. 

No transfer of any Security prior to the Resale Restriction Termination Date will be registered by the Registrar unless the applicable box on
the Form of Assignment and Transfer has been checked. 
 Any Security (or security issued in exchange or substitution therefor) as to which
such restrictions on transfer shall have expired in accordance with their terms may, upon surrender of such Security for exchange to the Registrar in accordance with the provisions of this Section 2.09, be exchanged for a new Security or
Securities, of like tenor and aggregate principal amount, which shall not bear the restrictive legend required by this Section 2.09 and shall not be assigned a restricted CUSIP number. The Company shall be entitled to instruct the Securities
Custodian in writing to so surrender any Global Security as to which such restrictions on transfer shall have expired in accordance with their terms for exchange, and, upon such instruction, the Securities Custodian shall so surrender such Global
Security for exchange; and any new Global Security so exchanged therefor shall not bear the restrictive legend specified in this Section 2.09 and shall not be assigned a restricted CUSIP number. The Company shall promptly notify the Trustee
upon the occurrence of the Resale Restriction Termination Date and promptly after a registration statement, if any, with respect to the Securities or any Common Stock issued upon conversion of the Securities has been declared effective under the
Securities Act. 

  
 17 

 (b) Until the Resale Restriction Termination Date, any stock certificate representing Common
Stock issued upon conversion of such Security shall bear a legend in substantially the following form (unless the Security or such Common Stock has been transferred pursuant to a registration statement that has become or been declared effective
under the Securities Act and that continues to be effective at the time of such transfer, or pursuant to the exemption from registration provided by Rule 144 or any similar provision then in force under the Securities Act, or such Common Stock has
been issued upon conversion of Securities that have been transferred pursuant to a registration statement that has become or been declared effective under the Securities Act and that continues to be effective at the time of such transfer, or
pursuant to the exemption from registration provided by Rule 144 or any similar provision then in force under the Securities Act, or unless otherwise agreed by the Company with written notice thereof to the Trustee and any transfer agent for the
Common Stock): 
 THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”),
AND MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT IN ACCORDANCE WITH THE FOLLOWING SENTENCE. BY ITS ACQUISITION HEREOF OR OF A BENEFICIAL INTEREST HEREIN, THE ACQUIRER: 

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

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

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

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

(C) TO A QUALIFIED INSTITUTIONAL BUYER IN COMPLIANCE WITH RULE 144A UNDER THE SECURITIES ACT, OR 

  
 18 

 (D) PURSUANT TO AN EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE
SECURITIES ACT OR ANY OTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. 
 PRIOR TO THE REGISTRATION OF
ANY TRANSFER IN ACCORDANCE WITH CLAUSE (2)(D) ABOVE, THE COMPANY AND THE TRANSFER AGENT FOR THE COMPANY’S COMMON STOCK RESERVE THE RIGHT TO REQUIRE THE DELIVERY OF SUCH LEGAL OPINIONS, CERTIFICATIONS OR OTHER EVIDENCE AS MAY REASONABLY BE
REQUIRED IN ORDER TO DETERMINE THAT THE PROPOSED TRANSFER IS BEING MADE IN COMPLIANCE WITH THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS. NO REPRESENTATION IS MADE AS TO THE AVAILABILITY OF ANY EXEMPTION FROM THE REGISTRATION REQUIREMENTS
OF THE SECURITIES ACT. 
 Any such Common Stock as to which such restrictions on transfer shall have expired in accordance with their terms
may, upon surrender of the certificates representing such shares of Common Stock for exchange in accordance with the procedures of the transfer agent for the Common Stock, be exchanged for a new certificate or certificates for a like aggregate
number of shares of Common Stock, which shall not bear the restrictive legend required by this Section 2.09(b). 
 (c) Any Security or
Common Stock issued upon the conversion or exchange of a Security that is repurchased or owned by any Affiliate of the Company (or any Person who was an Affiliate of the Company at any time during the three months preceding) may not be resold by
such Affiliate (or such Person, as the case may be) unless registered under the Securities Act or resold pursuant to an exemption from the registration requirements of the Securities Act in a transaction that results in such Security or Common
Stock, as the case may be, no longer being a “restricted security” (as defined under Rule 144 under the Securities Act). The Company shall cause any Security that is repurchased or owned by it to be surrendered to the Trustee for
cancellation in accordance with Section 2.14. 
 Section 2.10. Replacement Securities. If (a) any mutilated Security
is surrendered to the Company, a Registrar or the Trustee, or (b) the Company, the Registrar and the Trustee receive evidence to their satisfaction of the destruction, loss or theft of any Security, and, in either case, there is delivered to
the Company, the Registrar and the Trustee such security or indemnity as shall be required by them to save each of them harmless, then, in the absence of notice to the Company, such Registrar or the Trustee that such Security has been acquired by a
bona fide or protected purchaser, the Company shall issue, and the Trustee shall, upon receipt of a Company Order (which the Company agrees to deliver without unreasonable delay), authenticate and deliver, in exchange for any such mutilated Security
or in lieu of any such destroyed, lost or stolen Security, a new Security of like tenor and principal amount, bearing a number not contemporaneously outstanding. 

  
 19 

 In case any such mutilated, destroyed, lost or stolen Security has become or is about to become
due and payable, or is about to be purchased by the Company pursuant to Article 4, the Company in its discretion (but subject to any conversion rights) may, instead of issuing a new Security, pay or purchase such Security, as the case may be. 

Upon the issuance of any new Securities under this Section 2.10, the Company may require the payment of a sum sufficient to cover any
tax, assessment or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the reasonable fees and expenses of the Trustee or the Registrar) in connection therewith. 

Every new Security issued pursuant to this Section 2.10 in lieu of any mutilated, destroyed, lost or stolen Security shall constitute an
original additional contractual obligation of the Company, whether or not the mutilated, destroyed, lost or stolen Security shall be at any time enforceable by anyone, and shall be entitled to all benefits of this Indenture equally and
proportionately with any and all other Securities duly issued hereunder. 
 The provisions of this Section 2.10 are (to the extent
lawful) exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities. 

Section 2.11. Outstanding Securities. Securities outstanding at any time are all Securities authenticated by the Trustee, except
for those canceled by it, those paid or purchased pursuant to Section 2.10, those delivered to it for cancellation and those described in this Section 2.11 as not outstanding. 

If a Security is replaced pursuant to Section 2.10, it ceases to be outstanding unless the Trustee receives, subsequent to the new
Security’s authentication, proof satisfactory to the Company that the replaced Security is held by a bona fide or protected purchaser. 

If the Paying Agent holds, in accordance with the terms of this Indenture, prior to 10:00 a.m., New York City time, on the Maturity Date or
the Business Day immediately following a Fundamental Change Repurchase Date, as the case may be, cash or securities, sufficient to pay Securities payable, then immediately after such Maturity Date or Fundamental Change Repurchase Date, as the case
may be, such Securities shall cease to be outstanding and interest (including Additional Interest, if any) shall cease to accrue. 
 If a
Security is converted in accordance with Article 5, then from and after the Close of Business on the Conversion Date, such Security shall cease to be outstanding and interest (including Additional Interest, if any) shall cease to accrue, unless
there shall be a default in the delivery of the consideration payable hereunder upon such conversion. 
 Subject to the restrictions
contained in Section 2.12, a Security does not cease to be outstanding because the Company or an Affiliate of the Company holds the Security. 

  
 20 

 Section 2.12. Treasury Securities. In determining whether the Holders of the required
principal amount of Securities have given or concurred in any notice, request, demand, authorization, direction, waiver or consent, Securities owned by the Company or any other obligor on the Securities or by any Affiliate of the Company or of such
other obligor shall be disregarded and deemed not to be outstanding, except that, for purposes of determining whether the Trustee shall be protected in relying on any such notice, direction, waiver or consent, only Securities which a Trust Officer
actually knows are so owned shall be so disregarded. Securities so owned which have been pledged in good faith shall not be disregarded if the pledgee establishes to the satisfaction of the Trustee the pledgee’s right so to act with respect to
the Securities and that the pledgee is not the Company or any other obligor on the Securities or any Affiliate of the Company or of such other obligor. 

Section 2.13. Temporary Securities. Until definitive Securities are ready for delivery, the Company may prepare and execute, and,
upon receipt of a Company Order, the Trustee shall authenticate and deliver, temporary Securities. Temporary Securities shall be substantially in the form of definitive Securities but may have variations that the Company considers appropriate for
temporary Securities. After the preparation of definitive Securities, the temporary Securities shall be exchangeable for definitive Securities upon surrender of the temporary Securities at the office or agency of the Company designated for such
purpose pursuant to Section 2.05, without charge to the Holder. Upon surrender for cancellation of any one or more temporary Securities the Company shall execute and the Trustee shall, upon receipt of a Company Order (which the Company agrees
to deliver without unreasonable delay), authenticate and deliver in exchange therefor a like principal amount of definitive Securities of authorized denominations. Until so exchanged the temporary Securities shall in all respects be entitled to the
same benefits under this Indenture as definitive Securities. 
 Section 2.14. Cancellation of Securities Paid, Converted, Etc.
The Company shall cause all Securities surrendered for the purpose of payment, repurchase, registration of transfer or exchange or conversion, if surrendered to any Person other than the Trustee (including any of the Company’s Agents,
Subsidiaries or Affiliates), to be surrendered to the Trustee for cancellation. All Securities delivered to the Trustee shall be canceled promptly by it, and no Securities shall be authenticated in exchange thereof except as expressly permitted by
any of the provisions of this Indenture. The Trustee shall dispose of canceled Securities in accordance with its customary procedures and, after such disposition, shall deliver a certificate of such disposition to the Company, at the Company’s
written request in a Company Order. 
 Section 2.15. Additional Transfer and Exchange Requirements. 

(a) Transfer and Exchange of Global Securities. 

  
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 (i) Certificated Securities may be issued in exchange for interests in the Global
Securities only (x) if the Depositary notifies the Company that it is unwilling or unable to continue as Depositary for the Global Securities or if it at any time ceases to be a “clearing agency” registered under the Exchange Act, if
so required by applicable law or regulation, and a successor Depositary is not appointed by the Company within 90 days, (y) if an Event of Default has occurred and is continuing, or (z) by the Company in accordance with the Applicable
Procedures. In any such case, the Company shall execute, and the Trustee shall, upon receipt of a Company Order (which the Company agrees to deliver without unreasonable delay), authenticate and deliver Certificated Securities in an aggregate
principal amount equal to the principal amount of such Global Securities in exchange therefor. Certificated Securities issued in exchange for beneficial interests in Global Securities shall be registered in such names and shall be in such authorized
denominations as the Depositary, pursuant to instructions from its Agent Members or otherwise in accordance with the Applicable Procedures, shall instruct the Trustee. The Trustee shall deliver or cause to be delivered such Certificated Securities
to the Persons in whose name such Securities are so registered. Such exchange shall be effected in accordance with the Applicable Procedures. 

(ii) Notwithstanding any other provisions of this Indenture other than the provisions set forth in Section 2.15(a)(i), a
Global Security may not be transferred except as a whole by the Depositary to a nominee of the Depositary or by a nominee of the Depositary to the Depositary or another nominee of the Depositary or by the Depositary or any such nominee to a
successor Depositary or a nominee of such successor Depositary. 
 (b) Transfer and Exchange of Certificated Securities. If
Certificated Securities are issued in exchange for beneficial interests in Global Securities in accordance with Section 2.15(a)(i), and, on or after such event, Certificated Securities are presented by a Holder to the Registrar with a request:

 (i) to register the transfer of the Certificated Securities to a Person who will take delivery thereof in the form of
Certificated Securities only; or 
 (ii) to exchange such Certificated Securities for an equal principal amount of
Certificated Securities of other authorized denominations, 
 such Registrar shall register the transfer or make the exchange as requested; provided,
however, that the Certificated Securities presented or surrendered for register of transfer or exchange shall be duly endorsed or accompanied by a written instrument of transfer in accordance with the proviso to Section 2.08(a). 

(c) Transfers of Certificated Securities for Beneficial Interest in Global Securities. If Certificated Securities are issued in exchange
for beneficial interests in Global Securities and, thereafter, the events or conditions specified in Section 2.15(a)(i) which required such exchange shall cease to exist, the Company shall mail notice to the Trustee and to the Holders stating
that Holders may exchange Certificated Securities for interests in Global Securities by complying with the procedures set forth in this Indenture and briefly describing such procedures and the events or circumstances requiring that such notice be
given. Thereafter, if Certificated Securities are presented by a Holder to a Registrar with a request: 
 (i) to register the
transfer of such Certificated Securities to a Person who will take delivery thereof in the form of a beneficial interest in a Global Security, or 

  
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 (ii) to exchange such Certificated Securities for an equal principal amount of
beneficial interests in a Global Security, which beneficial interests will be owned by the Holder transferring such Certificated Securities, 
 the
Registrar shall register the transfer or make the exchange as requested by cancelling such Certificated Security and causing the aggregate principal amount of the applicable Global Security to be increased accordingly and, if no such Global Security
is then outstanding, the Company shall issue and the Trustee shall, upon receipt of a Company Order (which the Company agrees to deliver without unreasonable delay) authenticate and deliver a new Global Security; provided, however, that the
Certificated Securities presented or surrendered for registration of transfer or exchange shall be duly endorsed or accompanied by a written instrument of transfer in accordance with the proviso to Section 2.08(a). 

(d) Transfers to the Company. Nothing contained in this Indenture or in the Securities shall prohibit the sale or other transfer of any
Securities (including beneficial interests in Global Securities) to the Company or any of its Subsidiaries. 
 Section 2.16.
Repurchases. The Company may, to the extent permitted by law, directly or indirectly (regardless of whether such Securities are surrendered to the Company) repurchase Securities in the open market or otherwise, whether by the Company or its
Subsidiaries or through a private or public tender or exchange offer or through counterparties to private agreements, including by cash-settled swaps or other derivatives. The Company shall cause any Securities so repurchased (other than Securities
repurchased pursuant to cash-settled swaps or other derivatives) to be surrendered to the Trustee for cancellation in accordance with Section 2.14. 

Section 2.17. CUSIP Numbers. The Company in issuing the Securities may use one or more “CUSIP” numbers (if then
generally in use), and, if so, the Trustee shall use “CUSIP” numbers in notices of purchase as a convenience to Holders; provided, however, that any such notice may state that no representation is made as to the correctness of such
numbers either as printed on the Securities or as contained in any notice of a purchase and that reliance may be placed only on the other identification numbers printed on the Securities, and any such purchase shall not be affected by any defect in
or omission of such numbers. The Company shall without unreasonable delay notify the Trustee of any change in the “CUSIP” numbers. 

  
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 Section 2.18. Persons Deemed Owners. Prior to due presentment of a Security for
registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name such Security is registered as the owner of such Security for the purpose of receiving payment of principal of, and
interest (including Additional Interest, if any) on such Security, for the purpose of receiving cash or a combination of cash and shares of Common Stock, as applicable, upon conversion and for all other purposes whatsoever, whether or not such
Security is overdue, and none of the Company, the Trustee nor any agent of the Company or the Trustee shall be affected by notice to the contrary. 

ARTICLE 3 
 NO
OPTIONAL REDEMPTION 
 Section 3.01. No Optional Redemption. The Securities shall not be
redeemable by the Company prior to the Maturity Date, and no sinking fund is provided for the Securities. 
 ARTICLE 4 

PUT OPTION UPON FUNDAMENTAL CHANGE 

Section 4.01. Repurchase of Securities at Option of Holders Upon a Fundamental Change. (a) In the event of a Fundamental
Change at any time that Securities remain outstanding, Securities shall be repurchased by the Company, at the option of any Holder thereof, on a date specified by the Company that is not less than 20 nor more than 45 Business Days after the date the
Company mails or deposits with an overnight delivery service the Fundamental Change Company Notice (as defined below) to the Holders (the “Fundamental Change Repurchase Date”), at a purchase price in cash for each $1,000 principal
amount of such Securities equal to 100% of the principal amount of the Securities tendered for purchase, plus accrued and unpaid interest thereon, including Additional Interest, if any, to, but excluding, the Fundamental Change Repurchase Date (the
“Fundamental Change Repurchase Price”), subject to satisfaction by or on behalf of any Holder of the requirements set forth in Section 4.01(c); provided, however, that if any Security is repurchased pursuant to
this Section 4.01 after a regular Record Date and on or prior to the corresponding Interest Payment Date, the interest, including Additional Interest, if any, payable with respect to such Security on such Interest Payment Date shall be payable
to the Holder of record as of the corresponding Record Date. 
 A “Fundamental Change” shall be deemed to have occurred
upon the occurrence of any of the following: 
 (1) any person or group (other than the Company, any directly or indirectly
wholly-owned Subsidiary of the Company or any employee benefit plan of the Company or any of its Subsidiaries) files a Schedule 13D or Schedule TO, or any successor schedule, form or report under the Exchange Act, disclosing, or the Company
otherwise becomes aware, that such person is or has become the beneficial owner, directly or indirectly, of shares of the Company’s Voting Stock representing 50% or more of the total voting power of all outstanding classes of the Company’s
Voting Stock or has the power, directly or indirectly, to elect a majority of the members of the Board of Directors of the Company; 

  
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 (2) the consummation of (i) any recapitalization, reclassification or change
of the Common Stock (other than changes resulting from a subdivision or combination) as a result of which the Common Stock would be converted into, or exchanged for, stock, other securities, other property or assets (other than a transaction or
event described in clause (2)(ii) below); (ii) any share exchange, consolidation or merger of the Company pursuant to which the Common Stock will be converted into or exchanged for cash, securities or other property or assets; or (iii) any
sale, lease or other transfer in one transaction or a series of transactions of all or substantially all of the Company’s and its Subsidiaries’ consolidated assets, taken as a whole, to any person other than one of the Company’s
direct or indirect wholly owned Subsidiaries; provided, however, that a transaction described in clause (2)(ii) in which the holders of all classes of the Company’s common equity immediately prior to such transaction own, directly
or indirectly, more than 50% of all classes of common equity of the continuing or surviving corporation or transferee or the parent thereof immediately prior to such transaction shall not be a Fundamental Change pursuant to this clause (2); 

(3) the Common Stock, or other common stock into which the Securities are then convertible, ceases to be listed for trading on
the NASDAQ Global Select Market, the NASDAQ Global Market or the New York Stock Exchange (or their respective successors); or 

(4) the adoption of any plan relating to the liquidation or dissolution of the Company. 

Notwithstanding anything to the contrary set forth in this Section 4.01, a Fundamental Change as a result of (A) a merger or
consolidation resulting from clause (1) of the definition thereof or (B) a transaction described in clause (2) of the definition thereof shall not be deemed to have occurred if at least 90% of the consideration (excluding cash
payments for fractional shares and cash payments pursuant to dissenters’ appraisal rights) in the merger or consolidation otherwise constituting the Fundamental Change consists of common stock traded or quoted on any of the NASDAQ Global Select
Market, the NASDAQ Global Market or the New York Stock Exchange (or their respective successors) (or which shall be so traded when issued or exchanged in connection with such Fundamental Change) (“publicly traded securities”) and as
a result of such transaction or transactions the Securities become convertible into such consideration, excluding cash payment for fractional shares or pursuant to statutory appraisal rights (subject to Section 5.03) (a “Public Stock-for-Stock Exception”). For purposes of this paragraph, any transaction that constitutes a Fundamental Change pursuant to both clause (1) and clause
(2) of the definition thereof (without giving effect to the proviso to clause (2)) shall be deemed a Fundamental Change solely under clause (2) of the definition thereof (subject to the proviso to clause (2) and subject to the Public Stock-for-Stock Exception). 

  
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 For purposes of this Section 4.01(a): 

(1) a “beneficial owner” shall be determined in accordance with Rule 13d-3 under the
Exchange Act, as in effect on the date of this Indenture; 
 (2) “Capital Stock” means: (i) in the case of a
corporation, corporate stock; (ii) in the case of an association or business entity, any and all shares, interests, participations, rights or other equivalents (however designated) of corporate stock; (iii) in the case of a partnership or
limited liability company, partnership interests (whether general or limited) or membership interests; or (iv) any other interest or participation that confers on a Person the right to receive a share of the profits and losses of, or
distributions of assets of, the issuing Person; 
 (3) “person” and “group” shall have the meanings given
to them for purposes of Sections 13(d) and 14(d) of the Exchange Act or any successor provisions, and the term “group” includes any group acting for the purpose of acquiring, holding or disposing of securities within the meaning of
Rule 13d-5(b)(1) under the Exchange Act, or any successor provision; and 
 (4) “Voting
Stock” means any class or classes of Capital Stock or other interests then outstanding and normally entitled (without regard to the occurrence of any contingency) to vote in the election of the Board of Directors, managers or trustees of a
Person. 
 (b) Notice of Fundamental Change. The Company shall provide notice to the Trustee and each Holder (and, in the case of a
Fundamental Change Company Notice pursuant to clause (y) of this Section 4.01(b), each beneficial owner if required by applicable law) in accordance with Section 13.01 (x) as soon as practicable and in any event at least 25 Scheduled
Trading Days prior to the anticipated effective date of a Fundamental Change (without giving effect to the exception regarding publicly traded securities contained in the paragraph immediately following the definition of Fundamental Change in
Section 4.01(a)), in the case of a Fundamental Change that is known to the Company, or if not known to the Company prior to such 25th Scheduled Trading Day, then within two Trading Days after the Company becomes aware of such Fundamental
Change, and (y) within 15 Business Days after the effective date of a Fundamental Change (the “Fundamental Change Company Notice”). The Fundamental Change Company Notice delivered to each Holder (and each beneficial owner, if
applicable) pursuant to clause (y) of this Section 4.01(b) shall include the form of a Fundamental Change Repurchase Notice to be completed by the Holder and shall state, as applicable: 

(1) the events causing a Fundamental Change; 

(2) the effective date of such Fundamental Change; 

  
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 (3) that the Holder has a right to require the Company to purchase the Holder’s Securities;

 (4) the date by which the Fundamental Change Repurchase Notice must be delivered to the Paying Agent in order for a Holder to exercise the
Fundamental Change repurchase right; 
 (5) the Fundamental Change Repurchase Price; 

(6) the Fundamental Change Repurchase Date; 

(7) the name and address of the Paying Agent and the Conversion Agent; 

(8) that the Securities must be surrendered to the Paying Agent to collect payment of the Fundamental Change Repurchase Price; 

(9) that the Fundamental Change Repurchase Price for any Security as to which a Fundamental Change Repurchase Notice has been duly given and
not withdrawn shall be paid promptly following the later of the Fundamental Change Repurchase Date and the time of surrender of such Security; 

(10) the then-applicable Conversion Rate and any adjustments to the Conversion Rate that will result from the Fundamental Change; 

(11) that the Securities with respect to which a Fundamental Change Repurchase Notice has been given may be converted pursuant to Article 5 of
this Indenture only if the Fundamental Change Repurchase Notice has been withdrawn in accordance with the terms of this Indenture; 
 (12)
the procedures that the Holder must follow to exercise its Fundamental Change repurchase right under this Section 4.01; 
 (13) the
procedures for withdrawing a Fundamental Change Repurchase Notice; 
 (14) that, unless the Company defaults in making payment of such
Fundamental Change Repurchase Price interest, including Additional Interest, if any, on Securities surrendered for purchase by the Company, if any, shall cease to accrue on and after the Fundamental Change Repurchase Date; and 

(15) the CUSIP number(s) of the Securities. 

Simultaneously with providing the Fundamental Change Company Notice, the Company shall publish such information on its website or through such
other public medium as it may use at that time. 

  
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 If any of the Securities is in the form of a Global Security, then the Company shall modify such
notice to the extent necessary to accord with the Applicable Procedures applicable to repurchases. 
 At the Company’s request, the
Trustee shall give notice of such Fundamental Change on behalf of the Company and at the Company’s expense; provided, however, that the Company makes such request at least three Business Days (unless a shorter period shall be
satisfactory to the Trustee) prior to the date by which such Fundamental Change Company Notice must be given to the Holders in accordance with this Section 4.01(b); provided further, however, that the text of such notice shall be
prepared by the Company. 
 No failure of the Company to give the foregoing notices and no defect therein shall limit any Holder’s
repurchase rights or affect the validity of the proceedings for the repurchase of the Securities pursuant to this Section 4.01. 
 (c)
Fundamental Change Repurchase Notice. A Holder may exercise its right specified in Section 4.01 upon delivery of a written notice (which shall be in substantially the form included in Exhibit A hereto and which may be delivered by
letter, overnight courier, hand delivery, facsimile transmission or in any other written form and, in the case of Global Securities, may be delivered electronically or by other means in accordance with the Applicable Procedures) of the exercise of
such rights (a “Fundamental Change Repurchase Notice”), to a Paying Agent, and such Fundamental Change Repurchase Notice must be received by the Paying Agent, at any time prior to the Close of Business on the Business Day
immediately preceding the Fundamental Change Repurchase Date. The Fundamental Change Repurchase Notice must state: 
 (1) if
Certificated Securities are to be delivered, the certificate numbers of the Securities that the Holder shall deliver to be purchased; 

(2) the portion of the principal amount of the Securities that the Holder shall deliver to be purchased, which portion must be
in principal amounts of $1,000 or a multiple thereof; and 
 (3) that such Securities shall be purchased by the Company on
the Fundamental Change Repurchase Date pursuant to the terms and conditions specified in this Indenture. 
 The delivery of such Security to
any Paying Agent (together with all necessary endorsements) at the office of such Paying Agent shall be a condition to the receipt by the Holder of the Fundamental Change Repurchase Price; provided, however, that such Fundamental
Change Repurchase Price shall be paid pursuant to this Section 4.01 only if the Security so delivered to the Paying Agent shall conform in all respects to the description thereof in the related Fundamental Change Repurchase Notice. 

  
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 The Company shall purchase from the Holder thereof, pursuant to this Section 4.01, a portion
of a Security if the principal amount of such portion is $1,000 or a multiple of $1,000. Provisions of this Article 4 that apply to the purchase of all of a Security also apply to the purchase of such portion of such Security. 

Notwithstanding anything herein to the contrary, any Holder delivering to the Paying Agent the Fundamental Change Repurchase Notice
contemplated by this Section 4.01(c) shall have the right to withdraw such Fundamental Change Repurchase Notice in accordance with Section 4.02(b). 

A Paying Agent shall promptly notify the Company of the receipt by it of any Fundamental Change Repurchase Notice or written notice of
withdrawal thereof. 
 (d) Notwithstanding anything herein to the contrary, in the case of Global Securities, any Fundamental Change
Repurchase Notice must be delivered or withdrawn and such Securities must be surrendered or delivered for purchase in accordance with the Applicable Procedures. 

(e) Notwithstanding the foregoing, no Securities may be repurchased by the Company at the option of the Holders on any Fundamental Change
Repurchase Date if the principal amount of the Securities has been accelerated, and such acceleration has not been rescinded, on, or prior to such Fundamental Change Repurchase Date (except in the case of an acceleration resulting from a default by
the Company in the payment of the Fundamental Change Repurchase Price with respect to such Securities). 
 (f) Notwithstanding anything
herein to the contrary, the Company will not be required to repurchase, or to make an offer to repurchase, the notes upon a Fundamental Change if a third party makes such an offer in the same manner, at the same time and otherwise in compliance with
the requirements for an offer made by us as set forth in this Article 4 and such third party purchases all Securities properly surrendered and not validly withdrawn under its offer in the same manner, at the same time and otherwise in compliance
with the requirements for an offer made by the Company as set forth in this Article 4. 
 Section 4.02. Effect of Fundamental Change
Repurchase Notice; Withdrawal. (a) Upon receipt by any Paying Agent of the Fundamental Change Repurchase Notice specified in Section 4.01(c) and the delivery to any Paying Agent of the Security in respect of which such
Fundamental Change Repurchase Notice was given, in the manner required by Section 4.01(c), the Holder of such Security shall (unless such Fundamental Change Repurchase Notice is withdrawn as specified below) thereafter be entitled to receive
the Fundamental Change Repurchase Price with respect to such Security. Such Fundamental Change Repurchase Price shall be paid to such Holder promptly following the later of (i) the Fundamental Change Repurchase Date with respect to such
Security (provided the conditions in Section 4.01(c) have been satisfied) and (ii) the time of delivery of such Security to a Paying Agent by the Holder thereof in the manner required by Section 4.01(c). Securities in respect of which
a Fundamental Change Repurchase Notice has been given by the Holder thereof may not be converted into shares of Common Stock pursuant to Article 5 hereof on or after the date of the delivery of such Fundamental Change Repurchase Notice, unless such
Fundamental Change Repurchase Notice has first been validly withdrawn in accordance with Section 4.02(b). 

  
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 (b) A Fundamental Change Repurchase Notice may be withdrawn (in whole or in part) upon delivery
of a written notice of withdrawal (which may be delivered by mail, overnight courier, hand delivery, facsimile transmission or in any other written form and, in the case of Global Securities, must be delivered electronically or by other means in
accordance with the Applicable Procedures) to a Paying Agent, and such written notice of withdrawal must be received by the Paying Agent, at any time prior to the Close of Business on the Business Day immediately preceding the Fundamental Change
Repurchase Date, specifying: 
 (i) if Certificated Securities are to be withdrawn, the certificate numbers of the Securities
in respect of which such notice of withdrawal is being submitted; 
 (ii) the principal amount of the Securities in respect
of which such notice of withdrawal is being submitted; and 
 (iii) the principal amount, if any, of the Securities that
remains subject to the original Fundamental Change Repurchase Notice and that has been or shall be delivered for purchase by the Company. 

If the Securities are other than Certificated Securities, the foregoing notice of withdrawal must comply with the Applicable Procedures of the
Depositary. 
 Section 4.03. Deposit of Fundamental Change Repurchase Price. Prior to 10:00 a.m., New York City time, on the
Fundamental Change Repurchase Date, the Company shall deposit with the Paying Agent (or if the Company or an Affiliate is acting as the Paying Agent, shall segregate and hold in trust as provided in Section 2.06) an amount in cash (in
immediately available funds if deposited on such Fundamental Change Repurchase Date) sufficient to pay the aggregate Fundamental Change Repurchase Price of all the Securities or portions thereof that are to be purchased on that Fundamental Change
Repurchase Date. 
 If a Paying Agent holds, in accordance with the terms hereof, at 10:00 a.m., New York City time, on the applicable
Fundamental Change Repurchase Date, cash sufficient to pay the Fundamental Change Repurchase Price of any Security for which a Fundamental Change Repurchase Notice has been delivered and not validly withdrawn in accordance with Section 4.02(b)
of this Indenture, then, immediately after such Fundamental Change Repurchase Date, such Securities shall cease to be outstanding and interest (including Additional Interest, if any) shall cease to accrue thereon, whether or not such Securities are
delivered to the Paying Agent, and the rights of the Holders in respect thereof shall terminate (other than the right to receive the Fundamental Change Repurchase Price upon delivery of such Securities by their Holders to the Paying Agent). 

  
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 Section 4.04. Securities Repurchased in Part. Any Certificated Security that is to be
purchased only in part shall be surrendered at the office of a Paying Agent (with, if the Company or the Trustee so requires, due endorsement by, or a written instrument of transfer in form satisfactory to the Company and the Trustee duly executed
by, the Holder thereof or such Holder’s attorney duly authorized in writing), and promptly after the Fundamental Change Repurchase Date, the Company shall issue and the Trustee shall, upon receipt of a Company Order (which the Company agrees to
deliver without unreasonable delay), authenticate and deliver to the Holder of such Security, without service charge, a new Security or Securities, of such authorized denomination or denominations as may be requested by such Holder, in aggregate
principal amount equal to, and in exchange for, the portion of the principal amount of the Security so surrendered that is not purchased. 

Section 4.05. Repayment to the Company. To the extent that the aggregate amount of cash deposited by the Company pursuant to
Section 4.03 exceeds the aggregate Fundamental Change Repurchase Price of the Securities or portions thereof that the Company is obligated to purchase on the Fundamental Change Repurchase Date, then, promptly after the Fundamental Change
Repurchase Date, the Paying Agent shall return any such excess cash to the Company. 
 Section 4.06. Compliance with Securities Laws
upon Repurchase of Securities. When complying with the provisions of Section 4.01 hereof, the Company shall to the extent applicable: 

(a) comply with the provisions, if any, of Rule 13e-4, Rule
14e-1 and any other tender offer rules under the Exchange Act that may then be applicable; and 
 (b)
otherwise comply with all federal and state securities laws so as to permit the rights and obligations in connection with any purchase pursuant to a Fundamental Change to be exercised in the time and in the manner specified under such applicable
federal and state securities laws. 
 ARTICLE 5 

CONVERSION 

Section 5.01. Conversion Privilege. (a) Subject to and upon compliance with the further provisions of this Article 5
and Paragraph 7 of the Securities, a Holder may convert its Securities (or any portion thereof equal to $1,000 principal amount or a multiple of $1,000 principal amount in excess thereof) at the Conversion Rate, subject to adjustments as set forth
in this Article 5 (subject to, and in accordance with, the settlement provisions of Section 5.03, the “Conversion Obligation”), (x) on or after November 1, 2022, without regard to the conditions described in clauses
(i) through (v) below and (y) prior to November 1, 2022, only upon the satisfaction of any of the conditions described in clauses (i) through (v) below; provided that, in the case of any conversion pursuant to this Article 5, the
Holder must deliver a Conversion Notice (as defined below) no later than the Close of Business on the second Scheduled Trading Day immediately preceding the Maturity Date. 

  
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 (i) Prior to the Close of Business on the Business Day immediately preceding
November 1, 2022, a Holder may surrender its Securities for conversion during any calendar quarter beginning after the calendar quarter ending on March 31, 2018, and only during such calendar quarter, if the Last Reported Sale Price of the
Common Stock for 20 or more Trading Days (whether or not consecutive) in a period of 30 consecutive Trading Days ending on the last Trading Day of the immediately preceding calendar quarter is more than 130% of the Conversion Price on each
applicable Trading Day. The Company will determine at the beginning of each calendar quarter commencing at any time after March 31, 2018 whether the Securities are convertible as the result of the satisfaction of this condition in the preceding
calendar quarter and, if so, shall so notify the Trustee, the Conversion Agent (if not the Trustee) and the Holders in the manner set forth in Section 13.01. 

(ii) Prior to the Close of Business on the Business Day immediately preceding November 1, 2022, a Holder may surrender its
Securities for conversion during the five Business Day period following any five consecutive Trading Day period (the “Measurement Period”) in which the Trading Price per $1,000 principal amount of Securities, all as determined by
the Bid Solicitation Agent following a request by the Company in accordance with this Section 5.01(a)(ii), for each Trading Day of such Measurement Period was less than 98% of the product of the Last Reported Sale Price of the Common Stock for
such Trading Day and the applicable Conversion Rate. In connection with any conversion in accordance with this Section 5.01(a)(ii), the Bid Solicitation Agent shall have no obligation to determine the Trading Price of the Securities unless
requested by the Company to do so in writing (or, if the Company is acting as Bid Solicitation Agent, the Company shall have no obligation to determine the Trading Price); and the Company shall have no obligation to make such request unless a Holder
of at least $5,000,000 principal amount of Securities provides the Company with reasonable evidence that the Trading Price per $1,000 principal amount of Securities would be less than 98% of the product of the Last Reported Sale Price of the Common
Stock and the applicable Conversion Rate on such date and such Holder requests that the Company request the Bid Solicitation Agent to determine (or, if the Company is acting as Bid Solicitation Agent, requests that the Company determine) the Trading
Prices of the Securities. Promptly after receiving such evidence, the Company (unless the Company is acting as Bid Solicitation Agent) shall instruct the Bid Solicitation Agent to determine (or, if the Company is acting as Bid Solicitation Agent,
the Company shall determine) the Trading Price of the Securities beginning on the next Trading Day and on each successive Trading Day until the Trading Price per $1,000 principal amount of Securities is greater than or equal to 98% of the product of
the Last Reported Sale Price of the Common Stock and the applicable Conversion Rate on such date. If the Company does not, when obligated to, instruct the Bid Solicitation Agent to determine (or, if the Company is acting as Bid Solicitation Agent
and the Company does not determine) the Trading Price of the Securities as provided in the preceding sentence, then the Trading Price per $1,000 principal amount of Securities will be deemed to be less than 98% of the product of the Last Reported
Sale Price of the Common Stock and the applicable Conversion Rate on each day the Company fails to so instruct the Bid Solicitation Agent (or, if the Company is acting as Bid Solicitation Agent, the Company fails to so determine). If the Trading
Price condition set forth above has been met, the Company shall so notify the Holders in the manner set forth in Section 13.01. If, at any time after the Trading Price condition set forth above has been met, the Trading Price per $1,000
principal amount of Securities is greater than or equal to 98% of the product of the Last Reported Sale Price of the Common Stock and the applicable Conversion Rate, the Company shall so notify the Holders in the manner set forth in
Section 13.01. 

  
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 (iii) If, prior to the Close of Business on the Business Day immediately
preceding November 1, 2022, the Company elects to: 
 (A) distribute, to all or substantially all holders of Common
Stock, rights, warrants or options (other than pursuant to the Company’s preferred stock rights plan or any successor plan thereto prior to separation of such rights from the Common Stock) entitling such holders to, for a period of not more
than 45 calendar days from the record date of such distribution, subscribe for or purchase shares of Common Stock at a price per share less than the average of the Last Reported Sale Prices of Common Stock for each of the 10 consecutive Trading Days
immediately preceding the date that such distribution was first publicly announced; or 
 (B) distribute, to all or
substantially all holders of Common Stock, cash or other assets, debt securities or certain rights or warrants to purchase the Company’s securities, which distribution has a per share value exceeding 10% of the Last Reported Sale Price of the
Common Stock on the Trading Day immediately preceding the date that such distribution was first publicly announced, 
 then, in each case, the Company shall
notify the Trustee, the Conversion Agent (if not the Trustee) and the Holders in the manner set forth in Section 13.01 at least 25 Scheduled Trading Days prior to the first date on which the shares of Common Stock trade on the applicable
exchange or in the applicable market, regular way, without the right to receive the issuance, dividend or distribution in question (the “Ex Date”). Once the Company has given the notice, Holders may surrender their Securities for
conversion at any time until the earlier of (x) the Close of Business on the Business Day immediately prior to the Ex Date and (y) the Company’s announcement that such distribution will not take place. Notwithstanding the foregoing,
Holders may not surrender their Securities for conversion under this Section 5.01(a)(iii) if they are otherwise able to participate in such distribution due to the participation of Holders in such distribution. 

  
 33 

 In determining whether any rights, warrants or options entitle the holders to subscribe for or purchase shares of
Common Stock at less than the relevant per share prices set forth in this Section 5.01(a)(iii), and in determining the aggregate offering price of such shares of Common Stock, there shall be taken into account any consideration received by the
Company for such rights, warrants or options and any amount payable on exercise or conversion thereof, with the value of such consideration, if other than cash, to be determined by the Board of Directors of the Company. 

(iv) If a transaction or event that constitutes a Fundamental Change (without giving effect to the exception regarding publicly
traded securities contained in the paragraph immediately following the definition of Fundamental Change in Section 4.01(a)) or a Make-Whole Fundamental Change occurs prior to the Close of Business on the Business Day immediately preceding
November 1, 2022, regardless of whether a Holder has the right require the Company to repurchase the Securities pursuant to Article 4, or if the Company is a party to a consolidation, merger, binding share exchange, or transfer or lease of all
or substantially all of its assets, in each case, pursuant to which the Common Stock would be converted into cash, securities or other assets, Holders may surrender their Securities for conversion under this Section 5.01(a)(iv) at any time
after the effective date of such transaction until 35 calendar days after the actual effective date of such transaction (or if such transaction also constitutes a Fundamental Change, until the Close of Business on the Business Day immediately
preceding the related Fundamental Change Repurchase Date, if later). The Company will notify the Trustee, the Conversion Agent (if not the Trustee) and the Holders in the manner set forth in Section 13.01 no later than the effective date of
such transaction. 
 (b) The cash payable, and the number of shares of Common Stock issuable, if any, on conversion of a Security shall be
determined as set forth in Section 5.03. 
 Section 5.02. Conversion Procedures. (a) The right of conversion
attaching to any Security may be exercised (i) if such Security is represented by a Global Security, by book-entry transfer to the Conversion Agent through the facilities of the Depositary in accordance with the Applicable Procedures, or
(ii) if such Security is represented by a Certificated Security, by delivery of such Security at the specified office of the Conversion Agent, accompanied, in either case, by: (1) a duly signed and completed conversion notice, in the form
as set forth on the reverse of Security attached hereto as Exhibit A (a “Conversion Notice”), which once delivered, shall be irrevocable; (2) if such Certificated Security has been lost, stolen, destroyed or mutilated, a
notice to the Conversion Agent in accordance with Section 2.10 regarding the loss, theft, destruction or mutilation of the Security; (3) appropriate endorsements and transfer documents if required by the Registrar or the Conversion Agent;
(4) payment of any tax or duty, in accordance with Section 5.04; and (5) payment of any interest (including Additional Interest, if any) payable on the Securities in accordance with Section 5.03(c). The date on which the Holder
satisfies all of the requirements specified in this Section 5.02 shall be the “Conversion Date.” 

  
 34 

 (b) Each Conversion Notice shall state the name or names (with address or addresses) of the
Person or Persons in which any certificate or certificates for shares of Common Stock which shall be issuable on such conversion shall be issued. All such Securities surrendered for conversion shall, unless the shares of Common Stock issuable on
conversion are to be issued in the same name as the registered Holder of such Securities, be duly endorsed by, or be accompanied by instruments of transfer in form satisfactory to the Company duly executed by, the registered Holder or its duly
authorized attorney. 
 (c) Except as otherwise provided by Section 5.11 or Section 5.13, upon conversion of the Securities, the
Company shall deliver and shall issue to such Holder at the office of the Conversion Agent, the cash amounts payable in respect of such conversion and a certificate or certificates for the number of full shares of Common Stock issuable in respect of
such conversion, if any, in accordance with the provisions of this Article 5, no later than the second Business Day immediately following the last Trading Day of the relevant Observation Period. In case any Securities of a denomination greater than
$1,000 shall be surrendered for partial conversion, the Company shall execute and the Trustee shall authenticate and deliver to the Holder of the Securities so surrendered, without charge to such Holder, new Securities in authorized denominations in
an aggregate principal amount equal to the unconverted portion of the surrendered Securities. 
 Each conversion shall be deemed to have
been effected as to any such Securities (or portion thereof) immediately prior to the Close of Business on the Conversion Date, and the Person in whose name any certificate or certificates for shares of Common Stock shall be issuable upon such
conversion shall be deemed to have become on said date the holder of record of the shares of Common Stock represented thereby; provided, however, that in case of any such surrender on any date when the stock transfer books of the Company shall be
closed, the Person or Persons in whose name the certificate or certificates for such shares of Common Stock are to be issued shall be deemed to have become the record holder or holders thereof for all purposes on the next day on which such stock
transfer books are open, but such conversion shall be at the Conversion Rate in effect on the date upon which such Securities shall be surrendered. 

(d) Upon the conversion of an interest in Global Securities, the Trustee (or other Conversion Agent appointed by the Company) shall make a
notation on such Global Securities as to the reduction in the principal amount represented thereby. The Company shall notify the Trustee in writing of any conversions of Securities effected through any Conversion Agent other than the Trustee. 

(e) No Conversion Notice with respect to any Securities may be delivered by a Holder thereof if such Holder also has delivered a Fundamental
Change Repurchase Notice and not validly withdrawn such Fundamental Change Repurchase Notice in accordance with the applicable provisions of Section 4.01. 

  
 35 

 Section 5.03. Settlement upon Conversion. (a) If a Holder surrenders its
Securities for conversion, the Company shall deliver, in respect of each $1,000 principal amount of Securities surrendered for conversion, a “Settlement Amount” equal to the sum of the Daily Settlement Amounts for each of the 20 Trading
Days during the relevant Observation Period for such Security. 
 (i) All conversions occurring on or after November 1,
2022 shall be settled using the same forms and amounts of consideration. Except for any conversions that occur on or after November 1, 2022, the Company shall use the same forms and amounts of consideration for all conversions occurring on the
same Conversion Date, but the Company shall not have any obligation to use the same forms and amounts of consideration with respect to conversions that occur on different Conversion Dates. If, in respect of any Conversion Date, the Company elects to
settle all or a portion of its Conversion Obligation in excess of the principal portion of the Securities being converted in cash in respect of such Conversion Date, the Company shall inform converting Holders, the Trustee and the Conversion Agent
(if not the Trustee) of such election (the “Settlement Notice”) no later than the close of business on the first Trading Day immediately following the related Conversion Date (or, in the case of any conversions occurring on or after
November 1, 2022, no later than the Close of Business on the Scheduled Trading Day immediately preceding November 1, 2022) and the Company shall indicate in such Settlement Notice the percentage of each share otherwise issuable upon
conversion in excess of the principal amount of the Securities being converted that will be paid in cash (the “Cash Percentage”). If the Company does not elect a Settlement Method prior to the deadline set forth in the immediately
preceding sentence, the Company shall no longer have the right to elect a Cash Percentage and the Company shall settle its Conversion Obligation by paying cash up to the principal amount of the converted Securities and delivering shares of Common
Stock in respect of the remainder, if any, of its Conversion Obligation in excess of the aggregate principal portion of the Securities being converted as set forth herein. 

(ii) The “Daily Settlement Amount” for each of the 20 Trading Days during the Observation Period shall consist
of: 
 (A) cash equal to the lesser of (x) $50 and (y) the Daily Conversion Value, plus 

(B) if the Daily Conversion Value exceeds $50, the Daily Net Settlement Amount. 

(b) Upon conversion, Holders shall not receive any separate cash payment for accrued and unpaid interest, including Additional Interest, if
any, unless such conversion occurs between a Record Date and the Interest Payment Date to which it relates in which case such payment shall be payable to the Holder of converted Securities as of the Record Date. 

  
 36 

 (c) Securities surrendered for conversion during the period from the Close of Business of any
Record Date to 9:00 a.m., New York City time, on the immediately following Interest Payment Date, must be accompanied by funds equal to the amount of interest (including any Additional Interest, if any) payable on the Securities being converted;
provided further, however, that such payment is not required to be made (i) if the conversion is in connection with a Fundamental Change and the Company has specified a Fundamental Change Repurchase Date that is after a
Record Date and prior to the corresponding Interest Payment Date; (ii) with respect to any Securities converted after the Record Date immediately preceding the Maturity Date of the Securities; or (iii) to the extent of any overdue interest
(including overdue Additional Interest, if any), if overdue interest exists at the time of conversion with respect to the Securities being converted. 

(d) The Company shall not issue fractional shares of Common Stock upon conversion of Securities. If multiple Securities shall be surrendered
for conversion at one time by the same Holder, the number of full shares which shall be issuable upon conversion shall be computed on the basis of the aggregate principal amount of the Securities (or specified portions thereof to the extent
permitted hereby) so surrendered. If any fractional share of Common Stock would be issuable upon the conversion of any Securities, the Company shall make payment therefor in cash equal to the fraction of a share of Common Stock otherwise issuable
multiplied by the Daily VWAP for the last Trading Day of the applicable Observation Period. 
 Section 5.04. Taxes on Conversion.
If a Holder converts a Security, the Company shall pay any documentary, stamp or similar issue or transfer taxes or duties relating to the issuance or delivery of shares of Common Stock, if any, upon exercise of such conversion rights. However,
the Holder shall pay any tax or duty which may be payable relating to any transfer involved in the issuance or delivery of the Common Stock in a name other than the Holder’s name. The Conversion Agent may refuse to deliver the certificate
representing the Common Stock being issued in a name other than the Holder’s name until the Conversion Agent receives a sum sufficient to pay any tax or duties which will be due because the shares are to be issued in a name other than the
Holder’s name. Nothing herein shall preclude any tax withholding required by law or regulation. 
 Section 5.05. Company to
Provide Stock. (a) The Company shall, prior to the issuance of any Securities hereunder, and from time to time as may be necessary, reserve at all times and keep available, free from preemptive rights, out of its authorized but unissued
Common Stock, a sufficient number of shares of Common Stock to permit delivery upon conversion of all of the Securities. 
 (b) All shares
of Common Stock that may be issued upon conversion of the Securities shall be newly issued shares or shares held in the treasury of the Company, shall be duly authorized, validly issued, fully paid and nonassessable and shall be free of any
preemptive rights and free of any lien or adverse claim. 

  
 37 

 (c) The Company shall use its reasonable efforts to comply with all applicable securities laws
regulating the offer and delivery of shares of Common Stock, if any, upon conversion of Securities and shall use its reasonable efforts to list or cause to have quoted such shares of Common Stock on the NASDAQ Global Select Market, the New York
Stock Exchange or any other U.S. national securities exchange or in the established automated over-the-counter trading market in the United States on which the Common
Stock is then listed or quoted; provided, however, that, if the rules of such automated quotation system or exchange permit the Company to defer the listing of such Common Stock until the first conversion of the Securities into Common Stock in
accordance with the provisions of this Indenture, the Company covenants to list such Common Stock issuable upon conversion of the Securities in accordance with the requirements of such automated quotation system or exchange at such time. 

Section 5.06. Adjustment of Conversion Rate. The Conversion Rate shall be adjusted from time to time by the Company if any of the
following events occurs, except that the Company will not make any adjustment if Holders of Securities may participate (other than in the case of a (A) share split or share combination or (B) a tender or exchange offer), at the same time
and upon the same terms as holders of the Common Stock and solely as a result of holding the Securities, in the transactions described in this Section 5.06 without having to convert their Securities, as if they held a number of shares of Common
Stock equal to the Conversion Rate, multiplied by the principal amount (expressed in thousands) of Securities held by such Holder: 

(a) If the Company issues shares of Common Stock as a dividend or distribution on shares of Common Stock, which dividend or distribution
consists exclusively of shares of Common Stock, or subdivides or combines the outstanding Common Stock, the Conversion Rate will be adjusted based on the following formula: 
  

 
 where 
  

							
		 	CR0	  	=	  	the Conversion Rate in effect immediately prior to the Opening of Business on the Ex Date of such dividend or distribution, or the effective date of such share split or share combination, as applicable;
				
		 	CR1	  	=	  	the Conversion Rate in effect immediately after the Opening of Business on such Ex Date or effective date;
				
		 	OS0	  	=	  	the number of shares of Common Stock outstanding immediately prior to such Ex Date or effective date; and
				
		 	OS1	  	=	  	the number of shares of Common Stock outstanding immediately after the Opening of Business on such Ex Date or effective date after giving effect to such dividend, distribution, subdivision or share combination.

  
 38 

 Any adjustment made pursuant to this Section 5.06(a) shall become effective immediately
after the Opening of Business on the Ex Date for such dividend or distribution, or the effective date for such subdivision or combination. If any dividend or distribution of the type described in this Section 5.06(a) is declared but not paid or
made, the Conversion Rate shall be immediately readjusted, effective as of the date the Board of Directors of the Company determines not to pay such dividend or distribution to the Conversion Rate that would then be in effect if such dividend or
distribution had not been declared. 
 (b) If the Company issues to all or substantially all holders of the Common Stock rights, warrants or
options (other than pursuant to the Company’s preferred stock rights plan or any successor plan thereto) entitling such holders for a period of not more than 45 calendar days after the announcement of such issuance to subscribe for or purchase
shares of Common Stock, at a price per share or a Conversion Price per share less than the average of the Last Reported Sale Prices of the Common Stock for the 10 consecutive Trading Days immediately preceding the date that such distribution was
first publicly announced, the Conversion Rate will be adjusted based on the following formula: 
  
 

 
 where 
  

							
		 	CR0	  	=	  	the Conversion Rate in effect immediately prior to the Opening of Business on the Ex Date for such issuance;
				
		 	CR1	  	=	  	the Conversion Rate in effect immediately after the Opening of Business on such Ex Date for such issuance;
				
		 	OS0	  	=	  	the number of shares of Common Stock outstanding immediately prior to the Opening of Business on the Ex Date;
				
		 	X	  	=	  	the total number of shares of Common Stock issuable pursuant to such rights, warrants or options; and
				
		 	Y	  	=	  	the number of shares of Common Stock equal to the aggregate price payable to exercise such rights or warrants divided by the average of the Last Reported Sale Prices of the Common Stock for the 10 consecutive Trading Days
immediately preceding the date that the distribution of such rights, warrants or options was first publicly announced.

  
 39 

 The adjustment described in this Section 5.06(b) shall be successively made whenever any
such rights, warrants or options are distributed and shall become effective immediately after the Opening of Business on the Ex Date for such issuance. If such rights, warrants or options are not so issued, the Conversion Rate shall be adjusted to
be the Conversion Rate that would then be in effect if such Ex Date for such issuance had not been fixed. In addition, to the extent that shares of Common Stock are not delivered after the expiration of such rights, warrants or options, the
Conversion Rate shall be readjusted to the Conversion Rate that would then be in effect had the adjustments made upon the issuance of such rights, warrants or options been made on the basis of only the number of shares of Common Stock actually
delivered. 
 In determining whether any rights, warrants or options entitle the Holders to subscribe for or purchase shares of Common Stock
at less than such average of the Last Reported Sale Prices, and in determining the aggregate offering price of such shares of Common Stock, there shall be taken into account any consideration received by the Company for such rights, warrants or
options and any amount payable on exercise or conversion thereof, with the value of such consideration, if other than cash, to be determined by the Board of Directors of the Company. 

For the purposes of this Section 5.06(b), rights, warrants or options distributed by the Company to all or substantially all holders of
its Common Stock entitling them to subscribe for or purchase shares of the Company’s Capital Stock (either initially or under certain circumstances), which rights, warrants or options, until the occurrence of a specified event or events (a
“Trigger Event”): (1) are deemed to be transferred with such shares of Common Stock; (2) are not exercisable; and (3) also are issued in respect of future issuances of Common Stock, shall be deemed not to have been
distributed for purposes of this Section 5.06(b) and no adjustment to the Conversion Rate under this Section 5.06(b) shall be required until the occurrence of the earliest Trigger Event, whereupon such rights, warrants and options shall be
deemed to have been distributed and an appropriate adjustment (if any is required) to the Conversion Rate shall be made under this Section 5.06(b). 

(c) If the Company distributes to all or substantially all holders of the Common Stock shares of the Company’s Capital Stock, evidences of
indebtedness or other non-cash assets, including securities, rights or warrants, but excluding: 

(i) dividends or distributions referred to in Section 5.06(a); 

(ii) rights, warrants or options referred to in Section 5.06(b); 

(iii) rights issued pursuant to the Company’s preferred stock rights plan or any successor plan thereto, or the detachment
of such rights under the terms of any such plan; 
 (iv) dividends or distributions paid exclusively in cash as to which an
adjustment was effected pursuant to Section 5.06(d); and 
 (v) Spin-Offs to which the provisions of this
Section 5.06(c) apply, 

  
 40 

 then the Conversion Rate shall be adjusted based on the following formula: 

 
 

 
 where 
  

							
		 	CR0	  	=	  	the Conversion Rate in effect immediately prior to the Opening of Business on the Ex Date for such distribution;
				
		 	CR1	  	=	  	the Conversion Rate in effect immediately after the Opening of Business on Ex Date for such distribution;
				
		 	SP0	  	=	  	the average of the Last Reported Sale Prices of the Common Stock over the 10 consecutive Trading Day period ending on the Trading Day immediately preceding the Ex Date for such distribution; and
				
		 	FMV	  	=	  	the Fair Market Value (as determined by the Board of Directors of the Company) of the shares of Capital Stock, evidences of indebtedness, assets, or property distributed with respect to each outstanding share of Common Stock on the
Ex Date for such distribution.

 An increase made under the portion of this Section 5.06(c) above shall become effective immediately after
the Opening of Business on the Ex Date for such distribution. Notwithstanding the foregoing, if “FMV” (as defined above) is equal to or greater than “SP0” (as defined
above), in lieu of the foregoing increase, each Holder of a Security shall receive, in respect of each $1,000 principal amount thereof at the same time and upon the same terms as holders of the Common Stock, without having to convert its notes, the
amount and kind of the Company’s Capital Stock, evidences of the Company’s indebtedness, other assets or property of the Company or rights, options or warrants to acquire the Company’s Capital Stock or other securities that such
Holder would have received if such Holder owned a number of shares of Common Stock equal to the Conversion Rate in effect on the Ex Date for the distribution. 

If the Board of Directors of the Company determines the Fair Market Value of any distribution for purposes of this Section 5.06(c) by
reference to the actual or when issued trading market for any securities, it must in doing so consider the prices in such market over the same period used in computing the average of the Last Reported Sale Prices of the Common Stock. 

With respect to an adjustment pursuant to this Section 5.06(c) where there has been a payment of a dividend or other distribution on the
Common Stock or shares of Capital Stock of any class or series, or similar equity interest, of or relating to a Subsidiary or other business unit of the Company, that are, or, when issued, will be, listed or admitted for trading on a U.S. national
securities exchange (a “Spin-Off”), the Conversion Rate in effect immediately before the Close of Business, New York City time, on the effective date of such
Spin-Off shall be increased based on the following formula: 

  
 41 

 

 
 where 
  

							
		 	CR0	  	=	  	the Conversion Rate in effect immediately prior to the end of the Valuation Period (as defined below);
				
		 	CR1	  	=	  	the Conversion Rate in effect immediately after the end of the Valuation Period;
				
		 	FMV0	  	=	  	the average of the Last Reported Sale Prices of the Capital Stock or similar equity interest distributed to holders of Common Stock over the first 10 consecutive Trading Days after, and including, the effective date of the Spin-Off (the “Valuation Period”); and
				
		 	MP0	  	=	  	the average of the Last Reported Sale Prices of Common Stock over the Valuation Period.

 Because the adjustment to the applicable Conversion Rate under the preceding paragraph will occur immediately
after the end of the Valuation Period, (1) if a Holder converts a Security and the first Trading Day of the Observation Period applicable to such Security occurs on or after the Ex Date for the Spin-Off,
but prior to or on the last Trading Day of the Valuation Period for such Spin-Off, the Company shall postpone the Conversion Date applicable to such Security until the first Business Day immediately following
the last Trading Day of such Valuation Period (and the settlement of such Security will be postponed accordingly), and (2) if a Holder converts a Security, at least one Trading Day of the Observation Period applicable to such Security occurs
prior to the Ex Date for such Spin-Off and, but for this provision, at least one Trading Day of such Observation Period would occur on or after the Ex Date for such
Spin-Off, but prior to or on the last Trading Day of the Valuation Period for such Spin-Off, such Observation Period will be suspended on the first such Trading Day and
will resume on the first Trading Day immediately following the end of such Valuation Period (and the settlement of such Security will be postponed accordingly). 

For purposes of the above calculation, (i) the “last reported sales price” of any Capital Stock or similar equity interest
shall be calculated in a manner analogous to that used to calculate the Last Reported Sales Price of the Common Stock, (ii) whether a day is a “trading day” (and whether a day is a “scheduled trading day” and whether a
“market disruption event” has occurred) for the applicable Capital Stock or similar equity interest shall be determined in a manner analogous to that used to determine whether a day is a Trading Day (or whether a day is a Scheduled Trading
Day and whether a Market Disruption Event has occurred) for the Common Stock, and (iii) whether a day is a Trading Day to be included in a valuation period will be determined based on whether a day is a Trading Day for both the Common Stock and
such Capital Stock or similar equity interest. 
 If any dividend or distribution described in this Section 5.06(c) is not so paid or
made, the Conversion Rate shall again be adjusted to the Conversion Rate that would then be in effect if such dividend or distribution had not been declared. 

  
 42 

 (d) If the Company pays any dividend or makes any distribution (other than in connection with a
liquidation, dissolution or winding up of the Company) consisting exclusively of cash to all or substantially all holders of the Common Stock, the Conversion Rate will be adjusted based on the following formula: 

 
 

 
 where 
  

							
		 	CR0	  	=	  	the Conversion Rate in effect immediately prior to the Ex Date for such dividend or distribution;
				
		 	CR1	  	=	  	the Conversion Rate in effect immediately after the Opening of Business on the Ex Date for such dividend or distribution;
				
		 	SP0	  	=	  	the Last Reported Sale Price of a share of Common Stock on the Trading Day immediately preceding the Ex Date for such dividend or distribution; and
				
		 	C	  	=	  	the amount in cash per share the Company distributes to holders of Common Stock.

 The adjustment to the Conversion Rate described in this Section 5.06(d) will become effective immediately
after the Opening of Business on the Ex Date for such dividend or distribution. If such dividend or distribution is not so paid or made, the Conversion Rate shall again be adjusted to be the Conversion Rate that would then be in effect if such
dividend or distribution had not been declared. Notwithstanding the foregoing, if “C” (as defined above) is equal to or greater than “SP0” (as defined above), in lieu of the
foregoing increase, each Holder of a Security shall receive, for each $1,000 principal amount of Securities, at the same time and upon the same terms as holders of shares of the Common Stock, the amount of cash that such Holder would have received
if such Holder owned a number of shares of Common Stock equal to the Conversion Rate on the Ex Date for such cash dividend or distribution. 

(e) If the Company or any of its Subsidiaries purchases shares of Common Stock pursuant to a tender offer or exchange offer (other than an odd-lot tender) made at a price per share in excess of the Last Reported Sale Price of Common Stock on the Trading Day next succeeding the last date on which tenders or exchanges may be made pursuant to such tender
or exchange offer, the Conversion Rate will be increased based on the following formula: 

  
 43 

 

 
 where 
  

							
		 	CR0	  	=	  	the Conversion Rate in effect immediately prior to the effective date of the adjustment;
				
		 	CR1	  	=	  	the Conversion Rate in effect immediately after the effective date of the adjustment;
				
		 	AC	  	=	  	the aggregate value of all cash and any other consideration (as determined by the Board of Directors of the Company) paid or payable for shares purchased in such tender or exchange offer;
				
		 	OS0	  	=	  	the number of shares of Common Stock outstanding immediately prior to the date such tender or exchange offer expires;
				
		 	OS1	  	=	  	the number of shares of Common Stock outstanding immediately after the date such tender or exchange offer expires (after giving effect to the purchase of all shares accepted for purchase or exchange in such tender or exchange
offer); and
				
		 	SP1	  	=	  	the average of the Last Reported Sale Prices of Common Stock over the 10 consecutive Trading Day period commencing on the Trading Day next succeeding the date such tender or exchange offer expires.

 The adjustment to the Conversion Rate under this Section 5.06(e) shall occur at the Close of Business on the 10th Trading
Day from, and including the Trading Day next succeeding the date such tender or exchange offer expires; provided, that in respect of any conversion within 10 Trading Days immediately following, and including, the expiration date of any tender
or exchange offer, references within this Section 5.06(e) to 10 Trading Days shall be deemed replaced with such lesser number of Trading Days as have elapsed between the expiration date of such tender or exchange offer and the Conversion Date
in determining the applicable adjustment to the Conversion Rate. In addition, if the Trading Day next succeeding the date such tender or exchange offer expires is after the 10th Trading Day immediately preceding, and including, the end of the
Observation Period in respect of a conversion of Securities, references in the preceding paragraph to 10 trading days shall be deemed to be replaced, solely in respect of such conversion of Securities, with such lesser number of Trading Days as have
elapsed from, and including, the Trading Day next succeeding the date such tender or exchange offer expires to, and including, the last Trading Day of such Observation Period. 

  
 44 

 (f) Except as set forth in Sections 5.06(a), 5.06(b), 5.06(c), 5.06(d) or 5.06(e), no adjustment
to the Conversion Rate shall be made for the issuance of shares of Common Stock or any securities convertible into or exchangeable for shares of Common Stock or the right to purchase shares of Common Stock or such convertible or exchangeable
securities. If, however, application of the formulas provided in Sections 5.06(a), 5.06(b), 5.06(c), 5.06(d) or 5.06(e) would result in a decrease in the Conversion Rate, no adjustment to the Conversion Rate shall be made except in the case of a
subdivision, split or combination of the Common Stock. 
 (g) To the extent permitted by applicable law, subject to the applicable listing
standards of the NASDAQ Global Select Market (or such other U.S. national or regional securities exchange on which the Common Stock is then listed) and subject to Section 5.09 below, the Company from time to time may increase the Conversion
Rate by any amount for any period of time for a period of at least 20 days if the Board of Directors of the Company determines that such increase would be in the best interest of the Company. 

(h) For purposes of this Section 5.06, the number of shares of Common Stock at any time outstanding shall not include shares held in the
treasury of the Company so long as the Company does not pay any dividend or make any distribution on shares of Common Stock held in the treasury of the Company. 

Section 5.07. No Adjustment. (a) No adjustment in the Conversion Rate shall be required unless the adjustment would result in
a change in the Conversion Rate of at least 1.0% of the Conversion Rate; provided, however, that any adjustment which by reason of this Section 5.07(a) is not required to be made shall be carried forward and made when (i) the
cumulative net effect of all adjustments not yet made would result in a change of at least 1.0% of the Conversion Rate or (ii) regardless of whether the adjustment (or such cumulative net effect) is less than 1.0%, (x) on the effective date of
any Fundamental Change or Make-Whole Fundamental Change and (y) on each Trading Day of any Observation Period. Adjustments to the applicable Conversion Rate under this Article 5 shall be calculated to the nearest 1/10,000th of a share. 
 (b) Except as otherwise provided for in this Article 5, (i) the Company
shall not be required to adjust the Conversion Rate for the issuance of its Common Stock or any securities convertible or exchangeable for its Common Stock or the right to purchase its Common Stock or such convertible or exchangeable securities, and
(ii) no separate payment or adjustment will be made for dividends or distribution on any Common Stock issued upon conversion of Securities. By delivering to the Holder the cash and shares, if any, of Common Stock issuable upon conversion,
together with a cash payment in lieu of fractional shares, if any, the Company will satisfy its obligation with respect to the conversion of the Securities. Upon conversion of Securities, all accrued but unpaid interest, including Additional
Interest, if any, with respect to the converted Securities will be deemed to be paid in full rather than cancelled, extinguished or forfeited, unless such conversion occurs between a Record Date and the Interest Payment Date to which it relates in
which case such payment shall be payable to the Holder of converted Securities as of the Record Date. 

  
 45 

 (c) No adjustment to the Conversion Rate shall be made: (i) upon the issuance of Common
Stock at a price per share below the Conversion Price or otherwise; (ii) upon the issuance of any shares of Common Stock pursuant to any existing or future Company plan providing for the reinvestment of dividends or interest payable on the
Company’s Securities or the investment of additional optional amounts thereunder in shares of Common Stock; (iii) upon any repurchases of any shares of Common Stock by the Company pursuant to an open market share purchase program or other buy-back transaction, including structured or derivative transactions, that are not a tender offer or exchange offer of the kind referred to in Section 5.06(e); (iv) upon the issuance of any shares of
Common Stock or options or rights to purchase shares of Common Stock pursuant to any existing or future employee, director or consultant benefit plan or program of or assumed by the Company or any of its Subsidiaries; (v) upon the issuance of
any shares of Common Stock pursuant to any option, warrant, right or exercisable, exchangeable or convertible security not described in clause (iv) outstanding as of the date the Securities were first issued; (vi) for a change in the par
value of the Common Stock; (vii) for accrued and unpaid interest (including Additional Interest, if any); or (viii) for a third-party tender offer by any party other than a tender offer by one or more of the Company’s Subsidiaries
referred to in Section 5.06(e). 
 Section 5.08. Adjustments of Prices. Whenever any provision of this Indenture requires
the Company to calculate the Last Reported Sale Prices, the Daily VWAPs, the Daily Conversion Values or the Daily Settlement Amounts over a span of multiple days or Trading Days (including an Observation Period and, if applicable, the period for
determining the Stock Price for purposes of a Make-Whole Fundamental Change), the Board of Directors of the Company shall make appropriate adjustments to each to account for any adjustment to the Conversion Rate that becomes effective, or any event
requiring an adjustment to the Conversion Rate where the Ex Date of the event occurs, at any time during the period when the Last Reported Sale Prices, the Daily VWAPs, the Daily Conversion Values or the Daily Settlement Amounts are to be
calculated. 
 Section 5.09. Adjustment for Tax Purposes. Subject to the applicable listing standards of the NASDAQ Global
Select Market (or such other U.S. national or regional securities exchange on which the Common Stock is therein listed), the Company shall be entitled to make such increases in the Conversion Rate, in addition to those required by Section 5.06,
as it in its discretion shall determine to be advisable in order to avoid or diminish any tax to stockholders in connection with any stock dividends, subdivisions of shares, distributions of rights to purchase stock or securities or distributions of
securities convertible into or exchangeable for stock hereafter made by the Company to its stockholders. 
 Section 5.10. Notice of
Adjustment. (a) Whenever the Conversion Rate or conversion privilege is adjusted, the Company shall promptly mail to Holders a notice of the adjustment in accordance with Section 13.01, and file with the Trustee an Officer’s
Certificate briefly stating the facts requiring the adjustment and the manner of computing it. Unless and until the Trustee shall receive an Officer’s Certificate setting forth an adjustment of the Conversion Rate, the Trustee may assume
without inquiry that the Conversion Rate has not been adjusted and that the last Conversion Rate of which it has knowledge remains in effect. 

  
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 Section 5.11. Adjustment to Conversion Rate upon Certain Fundamental Changes.
(a) If a Holder elects to convert its Securities in connection with a Fundamental Change, as defined in Section 4.01 and determined after giving effect to any exceptions to or exclusions from such definition, but without regard
to the exception provided by clause 2(ii) of the definition thereof (each such Fundamental Change, a “Make-Whole Fundamental Change”), and such Make-Whole Fundamental Change becomes effective prior to the Maturity Date, then the
Conversion Rate of such Securities shall be increased by an additional number of shares of Common Stock (the “Additional Shares”) as described below. A conversion shall be deemed to be in connection with a Make-Whole
Fundamental Change if the Conversion Notice is received by the Conversion Agent during the period that begins on (and includes) the Make-Whole Effective Date and ends at the Close of Business on the Business Day immediately preceding the related
Fundamental Change Repurchase Date (or, in the case of a Make-Whole Fundamental Change that would have been a Fundamental Change but for the exception provided by clause (2)(ii) of the definition thereof, the 35th Trading Day immediately following
the Make-Whole Effective Date). 
 (b) The number of Additional Shares, if any, shall be determined by reference to the table attached as
Schedule A hereto, which Schedule is incorporated in and made part of this Indenture, based on the date on which the Make-Whole Fundamental Change becomes effective (the “Make-Whole Effective Date”) and the price (the
“Stock Price”) paid, or deemed to be paid, per share of Common Stock in such transaction or series of related transactions constituting the Make-Whole Fundamental Change, subject to adjustment as described in Section 5.11(c).
If the holders of Common Stock receive only cash in a Make-Whole Fundamental Change described in clause (2) of the definition of Fundamental Change, the Stock Price shall be the cash amount paid per share. Otherwise, the Stock Price will be the
average of the Last Reported Sale Prices of Common Stock on the five Trading Days prior to but excluding the Make-Whole Effective Date. The Company shall notify the Holders, the Trustee and the Conversion Agent (if other than the Trustee) of the
Make-Whole Effective Date of a Make-Whole Fundamental Change no later than five Business Days after the Make-Whole Effective Date. 
 (c) The
Stock Prices set forth in the first row of the table in Schedule A hereto shall be adjusted in the same manner as and as of any date on which the Conversion Rate of the Securities is adjusted as described in Section 5.06. The adjusted
Stock Prices shall equal the Stock Prices applicable immediately prior to such adjustment, multiplied by a fraction, the numerator of which is the Conversion Rate immediately prior to the adjustment and the denominator of which is the Conversion
Rate as so adjusted. 
 (d) If the exact Stock Prices and Make-Whole Effective Dates relating to a Make-Whole Fundamental Change are not set
forth in the table in Schedule A, then: 
 (i) If the Stock Price is between two Stock Price
amounts in the table of the Make-Whole Effective Date is between two Make-Whole Effective Dates in the table, the number of Additional Shares will be determined by straight-line interpolation between the number of Additional Shares set forth for the
higher and lower Stock Price amounts and the two Make-Whole Effective Dates, as applicable, based on a 365-day year. 

  
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 (ii) If the Stock Price in excess of $55.00 per share (subject to adjustment in
the same manner as the Conversion Rate as set forth in Section 5.06), no Additional Shares will be issued upon conversion. 

(iii) If the Stock Price is less than $14.56 per share (subject to adjustment in the same manner as the Conversion Rate as set
forth in Section 5.06), no Additional Shares will be issued upon conversion. 
 (e) Notwithstanding the foregoing, in no event will the
total number of Additional Shares issuable upon conversion exceed 68.6813 per $1,000 principal amount of Securities (subject to adjustment in the same manner as set forth in Section 5.06). 

(f) For the avoidance of doubt, the increases provided for in this Section 5.11 shall only be made with respect to the Securities being
converted in connection with such Make-Whole Fundamental Change and shall not be effective as to any Securities not so converted. 

Section 5.12. Notice of Certain Transactions. If not otherwise required in connection with a Fundamental Change, if: 

(a) the Company takes any action which would require an adjustment in the Conversion Price; 

(b) the Company consolidates or merges with, or transfers all or substantially all of its property and assets to, another corporation and
stockholders of the Company must approve the transaction; or 
 (c) there is a dissolution or liquidation of the Company, 

the Company shall mail to Holders and file with the Trustee a notice stating the proposed record or effective date, as the case may be. The Company shall mail
the notice at least ten days before such date. Failure to mail such notice or any defect therein shall not affect the validity of any transaction referred to in subsection (a), (b) or (c) of this Section 5.12. 

  
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 Section 5.13. Effect of Reclassification, Consolidation, Merger or Sale on Conversion
Privilege. In the event of: (a) any recapitalization, reclassification or change of the Company’s Common Stock (other than a change in par value, or from par value to no par value, or from no par value to par value, or as a result of a
subdivision or combination, or any other change for which an adjustment is provided in Section 5.06); (b) any consolidation, merger or combination involving the Company other than a merger in which the Company is the continuing corporation and
which does not result in any reclassification of, or change (other than in par value, or from par value to no par value, or from no par value to par value, or as a result of a subdivision or combination) in, outstanding shares of Common Stock;
(c) a sale, lease or other transfer of all or substantially all of the consolidated property and assets of the Company and its Subsidiaries, directly or indirectly, to another Person; or (d) a statutory share exchange (any such event a
“Merger Event”), in which holders of Common Stock would be entitled to receive shares of stock, or other securities, property, assets or cash (or combination thereof) for their shares of Common Stock, then, the Company or the
successor or purchasing company, as the case may be, will execute with the Trustee a supplemental indenture providing that at the effective time of any such Merger Event, the Holder of each Security then outstanding shall have the right to convert
such Security into a right to the kind and amount of shares of stock, or other securities, property, assets or cash (or combination thereof) that a holder of a number of shares of Common Stock equal to the Conversion Rate prior to such Merger Event
would have owned or been entitled to receive (the “Reference Property”) in connection with such Merger Event. However, at and after the effective time of the Merger Event, (i) the amount otherwise payable in cash upon
conversion of the Securities pursuant to Section 5.03 will continue to be payable in cash, (ii) the Company shall continue to have the right to determine the form of consideration to be paid or delivered, as the case may be, in respect of
the remainder, if any, of the Conversion Obligation in excess of the principal amount of the Securities being converted as set forth under Section 5.03, (iii) the number of shares of Common Stock, if any, otherwise deliverable upon conversion
of the Securities pursuant to Section 5.03 will instead be deliverable in the amount and type of Reference Property that a holder of that number of shares of Common Stock would have received in such Merger Event and (iv) the Daily VWAP
will be calculated based on the value of a unit of Reference Property that a holder of one share of Common Stock would have received in such Merger Event. If the Merger Event causes the Common Stock to be converted into the right to receive more
than a single type of consideration (determined based in part upon any form of stockholder election), the Reference Property into which the Securities will be convertible will be deemed to be (a) the weighted average of the types and amounts of
consideration received by the holders of Common Stock that affirmatively make such election or (b) if no holders of Common Stock affirmatively make such an election, the types and amounts of consideration actually received by the holders of
Common Stock. If the holders of Common Stock receive only cash in such Merger Event, then for all conversions that occur after the effective date of such Merger Event (a) the consideration due upon conversion of each $1,000 principal amount of
Securities shall be solely cash in an amount equal to the Conversion Rate in effect on the Conversion Date (as may be increased by any Additional Shares pursuant to Section 5.11), multiplied by the price paid per share of Common Stock in such
Merger Event and (b) the Company shall satisfy the Conversion Obligation by paying cash to converting Holders on the second Business Day immediately following the relevant Conversion Date. The Company shall notify Holders, the Trustee and the
Conversion Agent (if other than the Trustee) of such weighted average as soon as practicable after such determination is made. The provisions of this Section 5.13 shall similarly apply to successive Merger Events. 

  
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 Section 5.14. Trustee’s Disclaimer. The Trustee and any Conversion
Agent shall have no duty or responsibility to determine the Conversion Rate or any adjustment under this Article 5, including without limitation, when an adjustment under this Article 5 should be made, how it should be made or what such adjustment
should be, but may accept as conclusive evidence of that fact or the correctness of any such adjustment, and shall be protected in relying upon, an Officer’s Certificate, including the Officer’s Certificate with respect thereto which the
Company is obligated to file with the Trustee pursuant to Section 5.10. The Trustee and any Conversion Agent make no representation as to the validity or value of any securities or assets issued upon conversion of Securities, and the Trustee
and any Conversion Agent shall not be responsible for the Company’s failure to comply with any provisions of this Article 5. 
 Neither
the Trustee nor any Conversion Agent shall be under any responsibility to determine the correctness of any provisions contained in any supplemental indenture executed pursuant to Section 5.13, but may accept as conclusive evidence of the
correctness thereof, and shall be fully protected in relying upon, the Officer’s Certificate with respect thereto which the Company shall be obligated to file with the Trustee prior to the execution of any such supplemental indenture. 

Neither the Trustee nor any Conversion Agent shall be responsible for determining whether any event contemplated by this Article 5 has
occurred that makes the Securities eligible for conversion or no longer eligible therefor until the Company has delivered to the Trustee and any Conversion Agent (if not the Trustee) the notices referred to in this Article 5 with respect to the
commencement or termination of such conversion rights, on which notices the Trustee and any Conversion Agent may conclusively rely, and the Company agrees to deliver such notices to the Trustee and the Conversion Agent immediately after the
occurrence of any such event or at such other times as shall be provided for in this Article 5. 
 Section 5.15. Stockholder Rights
Plan. Each share of Common Stock issued upon conversion of Securities pursuant to this Article 5 shall be entitled to receive the appropriate number of rights, if any, and the certificates representing the Common Stock issued upon such
conversion shall bear such legends, if any, in each case as may be provided by the terms of any stockholder rights plan of the Company that may be in effect at such time. If at the time of conversion, however, the rights pursuant to an effective
stockholder rights plan have separated from the shares of Common Stock in accordance with the provisions of the applicable stockholder rights agreement so that the Holders of the Securities would not be entitled to receive any rights in respect of
Common Stock issuable upon conversion of the Securities, in which case, and only in such case, the Conversion Rate will be adjusted at the time of separation as if the Company issued shares of Capital Stock, evidences of indebtedness, assets,
property, rights, warrants or options to all or substantially all holders of Common Stock as provided in Section 5.06(c), subject to readjustment in the event of the expiration, termination or redemption of such rights. 

Section 5.16. Exchange in Lieu of Conversion. 

(a) If at any time when a Holder surrenders Securities for conversion prior to the Maturity Date of the Securities the Company: 

(i) has designated a financial institution, which shall be a direct or indirect Depositary participant (a “Designated
Institution”), to accept such Securities in exchange for cash and shares of Common Stock, if any, equal to the consideration due upon conversion as provided in Section 5.03; and 

  
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 (ii) notifies the Holder surrendering such Securities for conversion by the
second Trading Day after the applicable Conversion Date, that it has directed the Designated Institution to make an exchange in lieu of conversion, 
 then,
notwithstanding anything in this Indenture to the contrary, the Company may direct the Conversion Agent to surrender such Securities, on or prior to the commencement of the applicable Observation Period, to the Designated Institution for exchange in
lieu of conversion. 
 (b) If the Designated Institution accepts Securities surrendered for exchange, it shall deliver cash and shares of
Common Stock, if any, to the Conversion Agent and the Conversion Agent will deliver such cash and shares of Common Stock, if any, to such Holder on the second Business Day immediately following the last day of the applicable Observation Period. Any
Securities so exchanged by such Designated Institution shall remain outstanding for all purposes under this Indenture. 
 (c) If the
Designated Institution agrees to accept any Securities for exchange but does not timely deliver the related consideration to the Conversion Agent, or if the Designated Institution does not accept such Securities for exchange, the Company shall,
within the time period specified in Section 5.02(c), convert such Securities into cash and shares of Common Stock, if any, in accordance with the provisions of Section 5.02 and Section 5.03. 

For the avoidance of doubt, in no event will the Company’s designation of a financial institution pursuant to this Section 5.16
require such financial institution to accept any Securities for exchange. 
 Section 5.17. Company Determination Final. Any
determination that the Company or its Board of Directors must make pursuant to this Article 5 shall be conclusive if made in good faith and in accordance with the provisions of this Article 5, absent manifest error, and set forth in a Board
Resolution. 
 ARTICLE 6 

COVENANTS 

Section 6.01. Payment of Securities. The Company shall promptly make all payments in respect of the Securities on the dates
and in the manner provided in the Securities and this Indenture, including payments of cash and if applicable, shares of Common Stock upon conversion. Principal amount and accrued and unpaid interest (including Additional Interest, if any) shall be
considered paid on the date it is due if the Paying Agent holds by 10:00 a.m., New York City time, on such date, in accordance with this Indenture, cash or securities designated and sufficient for the payment of all such amounts then due. 

  
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 Payment of the principal of the Securities shall be made at the Corporate Trust Office of the
Trustee in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. Payment of accrued and unpaid interest, including Additional Interest, if any, on Certificated
Securities shall be made by check mailed to the address of the Holder entitled thereto as such address appears in the Register; provided, however, that Holders with Securities in an aggregate principal amount in excess of $5,000,000 shall be
paid, at their written election to the Company, the Trustee and the Paying Agent, if any, by wire transfer of immediately available funds if such Holders have provided us, the Trustee and the Paying Agent, if any, with the requisite information
necessary to make such wire transfer no later than the relevant Record Date (and such election shall remain in effect until the Holders notify the Company, the Trustee and the Paying Agent, if any, to the contrary in writing). Notwithstanding the
foregoing, so long as the Securities are registered in the name of a Depositary or its nominee, all payments with respect to the Securities shall be made by wire transfer of immediately available funds to the account of the Depositary or its
nominee. 
 Section 6.02. Reports and Certain Information. The Company shall file with the Trustee, within 15 days after it is
required to file them with the SEC pursuant to Section 13 or 15(d) of the Exchange Act (after giving effect to any grace period provided by Rule 12b-25 under the Exchange Act or any similar or successor
grace period), copies of its quarterly and annual reports and the information and other reports which the Company is required to file with the SEC pursuant to Section 13 or 15(d) of the Exchange Act; provided, however, that any such
reports, information or documents filed with the SEC pursuant to its Electronic Date Gathering, Analysis and Retrieval (or EDGAR) system shall be deemed filed with the Trustee. Notwithstanding anything to the contrary herein, the Trustee shall have
no duty to review such documents for purposes of determining compliance with any provisions of this Indenture or any applicable law. 

Section 6.03. Compliance Certificates. The Company will deliver to the Trustee, within 120 days after the end of each fiscal year
of the Company ending after the date hereof, an Officer’s Certificate signed by the principal executive officer, principal financial officer or principal accounting officer, as to his or her knowledge (i) of the Company’s compliance
with all conditions and covenants under the Indenture (without regard to any period of grace or requirement of notice provided hereunder) and, (ii) if the Company shall be in default, specifying all such defaults and the nature and status
thereof of which they may have knowledge. In addition, the Company will deliver to the Trustee, within 30 days after the occurrence of a default by the Company under this Indenture of which the Company becomes aware, an Officer’s Certificate
signed by the principal executive officer, principal financial officer or principal accounting officer, as to his or her knowledge of such default or defaults and the nature and status thereof of which they may have knowledge, and the actions the
Company is proposing to take in respect thereof. 
 Section 6.04. Maintenance of Corporate Existence. Subject to Article 7, the
Company shall do or cause to be done all things necessary to preserve and keep in full force and effect its corporate existence. 

  
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 Section 6.05. Rule 144A Information Requirement. (a) At any time the Company is
not subject to Section 13 or 15(d) of the Exchange Act, the Company shall, so long as any of the Securities or any shares of Common Stock issuable upon conversion thereof shall, at such time, constitute “restricted securities” within
the meaning of Rule 144(a)(3) under the Securities Act, promptly provide to the Trustee and, upon written request, any Holder, beneficial owner or prospective purchaser of such Securities or any shares of Common Stock issuable upon conversion of
such Securities, the information required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act to facilitate the resale of such Securities or shares of Common Stock pursuant to Rule 144A. The Company shall take such further action as
any Holder or beneficial owner of such Securities or such Common Stock may reasonably request to the extent from time to time required to enable such Holder or beneficial owner to sell such Securities or shares of Common Stock in accordance with
Rule 144A, as such rule may be amended from time to time. 
 (b) If, at any time during the six-month
period beginning on, and including, the date that is six months after the last date of original issuance of the Securities, the Company fails to timely file any document or report that it is required to file with the Commission pursuant to
Section 13 or 15(d) of the Exchange Act, as applicable (after giving effect to all applicable grace periods thereunder and other than reports on Form 8-K), the Company shall pay Additional Interest on the
Securities. Such Additional Interest shall accrue on the Securities at the rate of 0.25% per annum of the principal amount of the Securities outstanding for each day during the first 90 days of such period and thereafter at a rate of 0.50% per annum
of the principal amount of the Securities outstanding for each date in such period for which the Company’s failure to file has occurred and is continuing or the Securities are not otherwise freely tradable by Holders other than Affiliates of
the Company (or Holders that have been Affiliates of the Company at any time during the three months preceding). As used in this Section 6.05(b), documents or reports that the Company is required to “file” with the Commission pursuant
to Section 13 or 15(d) of the Exchange Act do not include documents or reports that the Company furnishes to the Commission pursuant to Section 13 or 15(d) of the Exchange Act. 

(c) If, and for so long as, the restrictive legend on the Securities specified in Section 2.09(a) has not been removed, the Securities are
assigned a restricted CUSIP or the Securities are not otherwise freely tradable by Holders other than the Company’s Affiliates or Holders that were the Company’s Affiliates at any time during the three months preceding (without
restrictions pursuant to U.S. securities laws or the terms of this Indenture or the Securities) as of the 375th day after the last date of original issuance of the Securities, the Company shall pay Additional Interest on the Securities at a rate
equal to 0.25% per annum of the principal amount of Securities outstanding for the first 90 days after the failure to remove such restrictive legend and thereafter at a rate of 0.50% per annum of the principal amount of Securities outstanding until
the restrictive legend on the Securities has been removed in accordance with Section 2.09(a), the Securities are assigned an unrestricted CUSIP and the Securities are freely tradable by Holders other than the Company’s Affiliates (or
Holders that were the Company’s Affiliates at any time during the three months preceding) (without restrictions pursuant to U.S. securities laws or the terms of this Indenture or the Securities). 

  
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 (d) Additional Interest, if any, will be payable in arrears on each Interest Payment Date
following accrual in the same manner as regular interest on the Securities; 
 (e) Notwithstanding the foregoing, in no event shall
Additional Interest accrue under the terms of this Indenture (aggregating any Additional Interest payable pursuant to Section 6.05(b) or Section 6.05(c) with any Additional Interest payable pursuant to Section 8.04) at a rate per
annum in excess of 0.50%, regardless of the number of events or circumstances giving rise to the requirement to pay such Additional Interest. 

(f) Notwithstanding the foregoing, no Additional Interest will accrue or be payable under this Section 6.05 on any date on which, at the
Company’s election, (i)(x) the Company has filed a Shelf Registration Statement for the resale of the Securities, (y) such Shelf Registration Statement is effective and usable by Holders for the resale of the Securities and (z) the
Holders may register the resale of their Securities under such Shelf Registration Statement on terms customary for the resale of convertible securities offered in reliance on Rule 144A; or (ii) the conditions set forth in clause (i) above
have been satisfied for a period of two years, no further Additional Interest shall be payable under this Section 6.05. 

Section 6.06. Stay, Extension and Usury Laws. The Company covenants, to the extent it may lawfully do so, that it shall not at any
time insist upon, plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay, extension or usury law or other law which would prohibit or forgive the Company from paying all or any portion of the principal amount or
Fundamental Change Repurchase Price in respect of Securities or any interest (including Additional Interest, if any) on the Securities as contemplated herein, wherever enacted, now or at any time hereafter in force, or which may affect the covenants
or the performance of this Indenture, and the Company, to the extent it may lawfully do so, hereby expressly waives all benefit or advantage of any such law and covenants that it shall not, by resort to any such law, hinder, delay or impede the
execution of any power herein granted to the Trustee or any Agent, but shall suffer and permit the execution of every such power as though no such law had been enacted. 

Section 6.07. Maintenance of Office or Agency of the Trustee, Registrar, Paying Agent and Conversion Agent. The Company shall
maintain an office or agency of the Trustee, Registrar, Paying Agent and Conversion Agent where Securities may be presented or surrendered for payment, where Securities may be surrendered for registration of transfer, exchange, purchase or
conversion and where notices and demands to or upon the Company in respect of the Securities and this Indenture may be served. The Company hereby designates the Corporate Trust Office as one such office or agency for all of the aforesaid purposes;
provided, however, that the Corporate Trust Office shall not be an office or agency of the Company for the purpose of effecting service of legal process on the Company. The Company shall give prompt written notice to the Trustee of the
location, and of any change in the location, of any such office or agency (other than a change in the location of the office of the Trustee). If at any time the Company shall fail to maintain any such required office or agency or shall fail to
furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or served at the address of the Trustee set forth in Section 13.01. 

  
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 ARTICLE 7 

CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE

 Section 7.01. Company May Consolidate, Etc., Only on Certain Terms. The Company shall not, in a single transaction or a
series of related transactions, consolidate with or merge into any other Person or sell, convey, transfer or lease all or substantially all of its properties and assets to any successor Person, unless: 

(a) the Company is the surviving Person, or the resulting, surviving or transferee Person is organized and validly existing under the laws of
the United States of America, any State thereof or the District of Columbia and shall expressly assume, by an indenture supplemental hereto (if other than the Company), executed and delivered to the Trustee all of the obligations of the Company
under the Securities and this Indenture; 
 (b) immediately after giving effect to such transaction, no Default or Event of Default shall
have occurred and be continuing; and 
 (c) the Company has delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel,
each stating that such consolidation, merger, conveyance, transfer or lease and, if a supplemental indenture is required in connection with such transaction, such supplemental indenture comply with this Article 7 and that all conditions precedent
herein provided for relating to such transaction have been complied with. 
 Section 7.02. Successor Substituted. Upon any
consolidation of the Company with, or merger of the Company into, any other Person or any conveyance, transfer or lease of all or substantially all of the properties and assets of the Company in accordance with Section 7.01, the successor
Person formed by such consolidation or into which the Company is merged or to which such conveyance, transfer or lease is made shall succeed to, and be substituted for, and may exercise every right and power of, the Company under this Indenture with
the same effect as if such successor Person had been named as the Company herein, and thereafter, except in the case of a lease, the predecessor Person shall be relieved of all obligations and covenants under this Indenture and the Securities. 

ARTICLE 8 
 DEFAULT
AND REMEDIES 
 Section 8.01. Events of Default. An “Event of Default” shall
occur if: 
 (a) the Company defaults in the payment of any principal of any of the Securities when the same becomes due and payable (whether
at the Maturity Date, upon a Fundamental Change Repurchase Date or otherwise); 
 (b) the Company defaults in the payment of any interest
(including Additional Interest, if any) on any of the Securities, when due and payable under the Securities, and such default continues for a period of 30 days; 

  
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 (c) the Company fails to comply with its obligation to convert the Securities in accordance with
Article 5 upon the exercise of a Holder’s conversion right; 
 (d) the Company fails to provide a Fundamental Change Company Notice when
required by clause (y) of Section 4.01(b) or notice of a specified corporate event in accordance with Section 5.01(a)(iii) or Section 5.01(a)(iv), in each case, when due; 

(e) the Company fails to comply with any of its other agreements contained in the Securities or in this Indenture (other than those referred to
in clauses (a) through (d) above) for 60 days after receipt by the Company of a Notice of Default; 
 (f) the Company fails to pay when
due the principal of, or acceleration of, any indebtedness for money borrowed by the Company or any of its Material Subsidiaries in excess of $40,000,000 principal amount, if such indebtedness is not discharged, or such acceleration is not annulled,
for a period of 30 days after receipt by the Company of a Notice of Default, without such failure to pay having been cured or waived, such acceleration having been rescinded or annulled (if applicable) and such indebtedness not having been paid or
discharged; 
 (g) the Company or any of its Material Subsidiaries pursuant to or within the meaning of any Bankruptcy Law: 

(i) commences a voluntary case or proceeding; 

(ii) consents to the entry of an order for relief against it in an involuntary case or proceeding; 

(iii) consents to the appointment of a Custodian of it or for all or substantially all of its property; or 

(iv) makes a general assignment for the benefit of its creditors; or 

(h) a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that: 

(i) is for relief against the Company or any of its Material Subsidiaries in an involuntary case or proceeding; 

(ii) appoints a Custodian of the Company or any of its Material Subsidiaries for all or substantially all of the property of
the Company; or 
 (iii) orders the winding up or liquidation of the Company or any of its Material Subsidiaries; 

and in each case of this clause (h) the order or decree remains unstayed and in effect for 60 consecutive days. 

  
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 The Trustee shall not be charged with knowledge of any Default or Event of Default unless a Trust
Officer has obtained actual knowledge thereof or written notice thereof shall have been given to a Trust Officer at the Corporate Trust Office of the Trustee by the Company or any Holder and such notice references this Indenture and the Notes. 

Section 8.02. Acceleration. If an Event of Default (other than an Event of Default specified in clause (g) or (h) of
Section 8.01 involving the Company) occurs and is continuing, the Trustee may, by notice to the Company, or the Holders of at least 25% in aggregate principal amount of the Securities then outstanding may, by notice to the Company and the
Trustee, declare all unpaid principal of plus accrued and unpaid interest (including Additional Interest, if any), if any, on all the Securities then outstanding to be due and payable upon any such declaration, and the same shall become and be
immediately due and payable. 
 If an Event of Default specified in clause (g) or (h) of Section 8.01 occurs with respect to the
Company, all unpaid principal of plus accrued and unpaid interest (including Additional Interest, if any), if any, on all the Securities then outstanding shall ipso facto become and be immediately due and payable without any declaration or
other act on the part of the Trustee or any Holder. 
 The Holders of a majority in aggregate principal amount of the Securities then
outstanding by notice to the Trustee may rescind and annul an acceleration of Securities and its consequences before a judgment or decree for the payment of money has been obtained by the Trustee if (a) all existing Events of Default, other
than the nonpayment of the principal of plus accrued and unpaid interest (including Additional Interest, if any), if any, on the Securities that has become due solely by such declaration of acceleration, have been cured or waived and (b) all
payments due to the Trustee and any predecessor Trustee under Section 9.06 have been made. No such rescission shall affect any subsequent Default or impair any right consequent thereto. 

Section 8.03. Other Remedies. If an Event of Default occurs and is continuing, the Trustee may, but shall not be obligated to,
pursue any available remedy by proceeding at law or in equity to collect the payment of the principal of or accrued and unpaid interest (including Additional Interest, if any) on the Securities or to enforce the performance of any provision of the
Securities or this Indenture. 
 The Trustee may maintain a proceeding even if it does not possess any of the Securities or does not produce
any of them in the proceeding. A delay or omission by the Trustee or any Holder in exercising any right or remedy accruing upon an Event of Default shall not impair the right or remedy or constitute a waiver of or acquiescence in the Event of
Default. No remedy is exclusive of any other remedy. All available remedies are cumulative to the extent permitted by law. 

  
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 Section 8.04. Sole Remedy for Failure to Report. Notwithstanding anything to the
contrary in this Indenture, to the extent elected by the Company, the sole remedy for an Event of Default relating to the Company’s failure to comply with the covenant set forth in Section 6.02 hereof or for the failure to file any
documents or reports that the Company is required to file with the SEC pursuant to Section 13 or 15(d) of the Exchange Act, after taking into account any grace period afforded by Rule 12b-25 of the
Exchange Act (any such obligation, the “Reporting Obligations”), shall (i) for the first 120 days after the occurrence of such an Event of Default consist exclusively of the right to receive additional interest on the
Securities at an annual rate amount equal to 0.25% of the principal amount of the Securities and (ii) for the next 150 days after the expiration of such 120 day period consist exclusively of the right to receive additional interest on the
Securities at an annual rate equal to 0.50% of the principal amount of Securities (such amounts under each of clause (i) and (ii), “Additional Interest”). Additional Interest payable pursuant to this Section 8.04 shall be
in addition to, not in lieu of, any Additional Interest payable pursuant to Section 6.05, subject to the limitations set forth in Section 6.05(e). If the Company so elects, such Additional Interest will be payable on all outstanding
Securities from and including the date on which the Event of Default first occurs to but excluding the 270th day thereafter (or such earlier date on which such Event of Default has been cured or
waived). On the 270th day after such Event of Default (or such earlier date on which such Event of Default has been cured or waived), Additional Interest will cease to accrue and, if the Event of
Default relating to failure to comply with Reporting Obligations has not been cured or waived ), the Securities will be subject to acceleration as provided above. The provisions set forth in this paragraph will not affect the rights of Holders of
Securities in the event of the occurrence of any other Event of Default. To the extent that the Company elects to pay Additional Interest, it shall be payable at the same time and in the same manner as ordinary interest. If the Company does not
elect to pay the Additional Interest in accordance with this paragraph, the Securities will be subject to acceleration as provided in Section 8.02. In order to elect to pay the Additional Interest as the sole remedy in respect of the first 270
days after the occurrence of an Event of Default relating to failure to comply with the Reporting Obligations, the Company must (i) notify the Trustee and the Paying Agent in writing of such election and (ii) pay all such Additional
Interest as described above, in the case of the first extension period, on or before the Close of Business on the date on which such Event of Default first occurs and, in the case of the second extension period, on or before the 120th day after such Event of Default first occurs. Upon the Company’s failure to timely give such notice or pay the Additional Interest, the Securities will be subject to acceleration as provided
above. 
 Section 8.05. Waiver of Defaults and Events of Default. Subject to Section 8.08 and 10.02, the Holders of a
majority in aggregate principal amount of the Securities then outstanding by notice to the Trustee may waive an existing Default or Event of Default and its consequence, except a Default or Event of Default in the payment of the principal amount of,
accrued and unpaid interest (including Additional Interest, if any) on any Security, the payment of any applicable Fundamental Change Repurchase Price, or a failure by the Company to deliver cash and, if applicable, cash and shares of Common Stock
upon conversion in accordance with Article 5 or any Default or Event of Default in respect of any provision of this Indenture or the Securities that, under Section 10.02, cannot be modified or amended without the consent of the Holder of each
Security affected. When a Default or Event of Default is waived, it is deemed cured, but no such waiver shall extend to any subsequent or other Default or impair any consequent right. 

  
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 Section 8.06. Control by Majority. The Holders of a majority in aggregate principal
amount of the Securities then outstanding may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or exercising any trust or power conferred on it with respect to the Securities. However, the
Trustee may refuse to follow any direction that conflicts with law or this Indenture, that the Trustee determines may be unduly prejudicial to the rights of another Holder or the Trustee, or that may involve the Trustee in personal liability. The
Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction. 
 Section 8.07.
Limitations on Suits. A Holder of a Security may not pursue any remedy with respect to this Indenture or the Securities unless: 
 (a)
the Holder gives to the Trustee written notice of a continuing Event of Default; 
 (b) the Holders of at least 25% in aggregate principal
amount of the then outstanding Securities make a written request to the Trustee to pursue the remedy; 
 (c) such Holder or Holders offer,
and if requested provide, to the Trustee reasonable indemnity to the Trustee against any loss, liability or expense; 
 (d) the Trustee does
not comply with the request within 60 days after receipt of the request and the offer of indemnity; and 
 (e) no direction inconsistent with
such written request has been given to the Trustee during such 60-day period by the Holders of a majority in aggregate principal amount of the Securities then outstanding. 

A Holder may not use this Indenture to prejudice the rights of another Holder or to obtain a preference or priority over such other Holder.

 Section 8.08. Rights of Holders to Receive Payment and to Convert. Notwithstanding any other provision of this Indenture, the
right of any Holder of a Security to receive payment of the principal amount of, interest (including Additional Interest, if any) on and Fundamental Change Repurchase Price with respect to any Security, on or after the respective due dates expressed
in the Security and this Indenture, to convert such Security in accordance with Article 5 and to bring suit for the enforcement of any such payment on or after such respective dates or the right to convert, is absolute and unconditional and shall
not be impaired or affected without the consent of the Holder. 
 Section 8.09. Collection Suit by Trustee. If an Event of
Default in the payment of principal or interest (including Additional Interest, if any) specified in clause (a) or (b) of Section 8.01 occurs and is continuing, the Trustee may recover judgment in its own name and as trustee of an express
trust against the Company or another obligor on the Securities for the whole amount owing with respect to the Securities and the amounts provided for in Section 9.06. 

  
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 Section 8.10. Trustee May File Proofs of Claim. The Trustee may file such proofs of
claim and other papers or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel) and
the Holders allowed in any judicial proceedings relative to the Company (or any other obligor on the Securities), its creditors or its property and shall be entitled and empowered to collect and receive any money or other property payable or
deliverable on any such claims and to distribute the same, and any Custodian in any such judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee and, if the Trustee shall consent to the making of such payments
directly to the Holders, to pay to the Trustee any amount due to it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 9.06, and to
the extent that such payment of the reasonable compensation, expenses, disbursements and advances in any such proceedings shall be denied for any reason, payment of the same shall be secured by a lien on, and shall be paid out of, any and all
distributions, dividends, money, securities and other property which the Holders may be entitled to receive in such proceedings, whether in liquidation or under any plan of reorganization or arrangement or otherwise. Nothing herein contained shall
be deemed to authorize the Trustee to authorize or consent to, or, on behalf of any Holder, to authorize, accept or adopt any plan of reorganization, arrangement, adjustment or composition affecting the Securities or the rights of any Holder
thereof, or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding. 
 Section 8.11.
Priorities. If the Trustee collects any money pursuant to this Article 8, it shall pay out the money in the following order: 

First, to the Trustee for amounts due under Section 9.06; 

Second, to Holders for amounts due and unpaid on the Securities for the principal amount, accrued interest (including
Additional Interest, if any), or Fundamental Change Repurchase Price, as the case may be, ratably, without preference or priority of any kind, according to such amounts due and payable on the Securities; and 

Third, the balance, if any, to the Company. 

The Trustee may fix a record date and payment date for any payment to Holders pursuant to this Section 8.11. At least 15 days before such
record date, the Trustee shall mail to each Holder and the Company a notice that states the record date, the payment date and the amount to be paid. 

Section 8.12. Undertaking for Costs. In any suit for the enforcement of any right or remedy under this Indenture or in any suit
against the Trustee for any action taken or omitted by it as Trustee, a court in its discretion may require the filing by any party litigant in the suit of an undertaking to pay the costs of the suit, and the court in its discretion may assess
reasonable costs, including reasonable attorneys’ fees and expenses, against any party litigant in the suit, having due regard to the merits and good faith of the claims or defenses made by the party litigant. This Section 8.12 does not
apply to a suit made by the Trustee, a suit by a Holder pursuant to Section 8.08, or a suit by Holders of more than 10% in aggregate principal amount of the Securities then outstanding. 

  
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 Section 8.13. Notice of Defaults. If an Event of Default occurs and is continuing
with respect to the Securities and if it is actually known to a Trust Officer of the Trustee, the Trustee shall mail to each Holder of such Securities notice of the Event of Default within 90 days after it occurs. The Trustee may withhold notice to
the Holders of the Securities of any Event of Default, except defaults in payment of principal amount or interest (including Additional Interest, if any) on the Securities, and defaults in delivery of cash or, if applicable, cash and shares of
Common Stock (including any Additional Shares payable as a result of a conversion in connection with a Make-Whole Fundamental Change), when required to be delivered upon the conversion of any Security, if and so long as the Trustee in good faith
determines that the withholding of such notice is in the interest of the Holders of the Securities. 
 ARTICLE 9 

TRUSTEE 

Section 9.01. Certain Duties and Responsibilities of Trustee. (a) The Trustee, prior to the occurrence of an Event of
Default with respect to the Securities and after the curing of all Events of Default with respect to the Securities that may have occurred, shall undertake to perform with respect to the Securities such duties and only such duties as are
specifically set forth in this Indenture, and no implied covenants shall be read into this Indenture against the Trustee. In case an Event of Default with respect to the Securities has occurred (that has not been cured or waived), the Trustee shall
exercise with respect to Securities such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in their exercise, as a prudent person would exercise or use under the circumstances in the conduct of his or
her own affairs. 
 (b) No provision of this Indenture shall be construed to relieve the Trustee from liability for its own negligent action,
its own negligent failure to act, or its own willful misconduct, except that: 
 (i) prior to the occurrence of an Event of
Default with respect to the Securities and after the curing or waiving of all such Events of Default that may have occurred: 

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

  
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 (B) in the absence of bad faith on the part of the Trustee, the Trustee may
conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon any certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture; but in the case of any such
certificates or opinions that by any provision hereof are specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or not they conform to the requirement of this Indenture; 

(ii) the Trustee shall not be liable for any error of judgment made in good faith by a Trust Officer or Trust Officers of the
Trustee, unless it shall be proved that the Trustee, was negligent in ascertaining the pertinent facts; 
 (iii) the Trustee
shall not be liable with respect to any action taken or omitted to be taken by it in good faith in accordance with the direction of the Holders of not less than a majority in principal amount of the Securities at the time outstanding (determined as
provided in Section 2.11) relating to the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee under this Indenture with respect to the
Securities; and 
 (iv) None of the provisions contained in this Indenture shall require the Trustee to expend or risk its
own funds or otherwise incur personal financial liability in the performance of any of its duties or in the exercise of any of its rights or powers, if there is reasonable ground for believing that the repayment of such funds or liability is not
reasonably assured to it under the terms of this Indenture or adequate indemnity against such risk is not reasonably assured to it. 

Section 9.02. Certain Rights of Trustee. Except as otherwise provided in Section 10.01: 

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

(b) Any request, direction, order or demand of the Company mentioned herein shall be sufficiently evidenced by a resolution of the Board of
Directors of the Company or an instrument signed in the name of the Company, by one or more Officers thereof (unless other evidence in respect thereof is specifically prescribed herein); 

(c) The Trustee may consult with counsel and the advice of such counsel or any Opinion of Counsel shall be full and complete authorization and
protection in respect of any action taken or suffered or omitted hereunder in good faith and in reliance thereon; 

  
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 (d) The Trustee shall be under no obligation to exercise any of the rights or powers vested in it
by this Indenture at the request, order or direction of any of the Holders, pursuant to the provisions of this Indenture, unless such Holders shall have offered to the Trustee reasonable security or indemnity against the costs, expenses and
liabilities that may be incurred therein or thereby; nothing contained herein shall, however, relieve the Trustee of the obligation, upon the occurrence of an Event of Default with respect to the Securities (that has not been cured or waived) to
exercise with respect to the Securities such of the rights and powers vested in it by this Indenture, and to use the same degree of care and skill in their exercise, as a prudent man would exercise or use under the circumstances in the conduct of
his own affairs; 
 (e) The Trustee shall not be liable for any action taken or omitted to be taken by it in good faith and believed by it to
be authorized or within the discretion or rights or powers conferred upon it by this Indenture; 
 (f) The Trustee shall not be bound to make
any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order, approval, bond, security, or other papers or documents, unless requested in writing so to do
by the Holders of not less than a majority in principal amount of the outstanding Securities affected thereby (determined as provided in Section 2.11); provided, however, that if the payment within a reasonable time to the Trustee of the costs,
expenses or liabilities likely to be incurred by it in the making of such investigation is, in the opinion of the Trustee, not reasonably assured to the Trustee by the security afforded to it by the terms of this Indenture, the Trustee may require
reasonable indemnity against such costs, expenses or liabilities as a condition to so proceeding. The reasonable expense of every such examination shall be paid by the Company or, if paid by the Trustee, shall be repaid by the Company upon demand;

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

(h) Except with respect to Section 6.01, the Trustee shall have no duty to inquire as to the performance of the Company with respect to
the covenants contained in Article 6. In addition, delivery of reports, information and documents to the Trustee under Sections 6.02 and 6.03 for informational purposes only and the Trustee’s receipt of the foregoing shall not constitute
constructive notice of any information contained therein or determinable from information contained therein, including the Company’s compliance with any of their covenants hereunder (as to which the Trustee is entitled to rely exclusively on
Officer’s Certificates); 
 (i) In no event shall the Trustee be responsible or liable for special, indirect, punitive or consequential
loss or damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action other than any such loss or
damage caused by the Trustee’s willful misconduct or gross negligence; 

  
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 (j) The permissive right of the Trustee to take actions permitted by this Indenture shall not be
construed as an obligation or duty to do so; and 
 (k) The rights, privileges, protections, immunities and benefits given to the Trustee,
including its right to be indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder whether as an Agent or otherwise, and each agent, custodian and other Person employed to act hereunder. 

Section 9.03. Trustee Not Responsible for Recitals or Issuance or Securities. 

(a) The recitals contained herein and in the Securities shall be taken as the statements of the Company, and the Trustee assumes no
responsibility for the correctness of the same. 
 (b) The Trustee makes no representations as to the validity or sufficiency of this
Indenture or of the Securities. 
 (c) The Trustee shall not be accountable for the use or application by the Company of any of the
Securities or of the proceeds of such Securities, or for the use or application of any moneys paid over by the Trustee in accordance with any provision of this Indenture or for the use or application of any moneys received by any paying agent other
than the Trustee. 
 Section 9.04. May Hold Securities. 

The Trustee or any Agent, in its individual or any other capacity, may become the owner or pledgee of Securities with the same rights it would
have if it were not Trustee or Agent. 
 Section 9.05. Moneys Held in Trust. 

All moneys received by the Trustee shall, until used or applied as herein provided, be held in trust for the purposes for which they were
received, but need not be segregated from other funds except to the extent required by law. The Trustee shall be under no liability for interest on any moneys received by it hereunder except such as it may agree with the Company to pay thereon. 

  
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 Section 9.06. Compensation and Reimbursement. 

(a) The Company covenants and agrees to pay to the Trustee, and the Trustee shall be entitled to, such compensation (which shall not be limited
by any provision of law in regard to the compensation of a trustee of an express trust), as the Company, and the Trustee may from time to time agree in writing, for all services rendered by it in the execution of the trusts hereby created and in the
exercise and performance of any of the powers and duties hereunder of the Trustee, and, except as otherwise expressly provided herein, the Company will pay or reimburse the Trustee upon its request for all reasonable expenses, disbursements and
advances incurred or made by the Trustee in accordance with any of the provisions of this Indenture (including the reasonable compensation and the expenses and disbursements of its counsel and of all Persons not regularly in its employ) except any
such expense, disbursement or advance as may arise from its negligence or bad faith. The Company also covenants to indemnify the Trustee (and its officers, agents, directors and employees) for, and to hold it harmless against, any loss, liability or
expense incurred without negligence or bad faith on the part of the Trustee and arising out of or in connection with the acceptance or administration of this trust, including the reasonable costs and expenses of defending itself against any claim of
liability in the premises. The Trustee shall notify the Company promptly after a Trust Officer of the Trustee obtains actual knowledge of a claim asserted against the Trustee for which it may seek indemnity; provided, however, that the
failure to give such notice shall not relieve the Company of its obligations under this Section 9.06, except to the extent that the Company is materially prejudiced by such failure. The Company need not pay for any settlement without its
written consent, which shall not be unreasonably withheld. 
 (b) The obligations of the Company under this Section 9.06 to compensate
and indemnify the Trustee and to pay or reimburse the Trustee for reasonable expenses, disbursements and advances shall constitute additional indebtedness hereunder. Such additional indebtedness shall be secured by a lien prior to that of the
Securities upon all property and funds held or collected by the Trustee as such, except funds held in trust for the benefit of the Holders of particular Securities. 

This Section 9.06 shall survive the satisfaction and discharge of the Indenture and/or the resignation and removal of the Trustee. 

Section 9.07. Reliance on Officer’s Certificate. Except as otherwise provided in Section 10.01, whenever
in the administration of the provisions of this Indenture the Trustee shall deem it necessary or desirable that a matter be proved or established prior to taking or suffering or omitting to take any action hereunder, such matter (unless other
evidence in respect thereof be herein specifically prescribed) may, in the absence of negligence or bad faith on the part of the Trustee, be deemed to be conclusively proved and established by an Officer’s Certificate delivered to the Trustee
and such certificate, in the absence of negligence or bad faith on the part of the Trustee, shall be full warrant to the Trustee for any action taken, suffered or omitted to be taken by it under the provisions of this Indenture upon the faith
thereof. 
 Section 9.08. Disqualification; Conflicting Interests. If the Trustee has or shall acquire any “conflicting
interest” within the meaning of Section 310(b) of the TIA, the Trustee and the Company shall in all respects comply with the provisions of Section 310(b) of the TIA. 

  
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 Section 9.09. Corporate Trustee Required; Eligibility. There shall at all times be a
Trustee with respect to the Securities issued hereunder which shall at all times be a corporation organized and doing business under the laws of the United States of America or any State or Territory thereof or of the District of Columbia, or a
corporation or other Person permitted to act as trustee by the SEC, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus, or being a member of a bank holding company with a combined capital and
surplus, of at least 50 million U.S. dollars ($50,000,000), and subject to supervision or examination by Federal, State, Territorial, or District of Columbia authority. If such corporation publishes reports of condition at least annually,
pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purposes of this Section 9.09, the combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus
as set forth in its most recent report of condition so published. The Company may not, nor may any Person directly or indirectly controlling, controlled by, or under common control with the Company, serve as Trustee. In case at any time the Trustee
shall cease to be eligible in accordance with the provisions of this Section 9.09, the Trustee shall resign immediately in the manner and with the effect specified in Section 9.10. 

Section 9.10. Resignation and Removal; Appointment of Successor. 

(a) The Trustee or any successor hereafter appointed, may at any time resign with respect to the Securities by giving written notice thereof to
the Company and by transmitting notice of resignation by mail, first class postage prepaid, to the Holders, as their names and addresses appear upon the Register. Upon receiving such notice of resignation, the Company shall promptly appoint a
successor trustee with respect to Securities by or pursuant to a resolution of its Board of Directors. If no successor trustee shall have been so appointed and have accepted appointment within 30 days after the mailing of such notice of resignation,
the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee with respect to Securities, or any Holder who has been a bona fide Holder of a Security or Securities for at least six months may on
behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee. 

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

(i) the Trustee shall fail to comply with the provisions of Section 9.08 after written request therefor by the Company or
by any Holder who has been a bona fide Holder of a Security or Securities for at least six months; or 
 (ii) the Trustee
shall cease to be eligible in accordance with the provisions of Section 9.09 and shall fail to resign after written request therefor by the Company or by any such Holder; or 

(iii) the Trustee shall become incapable of acting, or shall be adjudged a bankrupt or insolvent, or commence a voluntary
bankruptcy proceeding, or a receiver of the Trustee or of its property shall be appointed or consented to, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation,
conservation or liquidation, then, in any such case, the Company may remove the Trustee with respect to the Securities and appoint a successor trustee by or pursuant to a Resolution of the Board of Directors of the Company, or, unless the
Trustee’s duty to resign is stayed as provided herein, any Holder who has been a bona fide Holder of a Security or Securities for at least six months may, on behalf of that Holder and all others similarly situated, petition any court of
competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee. 

  
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 (c) The Holders of a majority in aggregate principal amount of the Securities at the time
outstanding may at any time remove the Trustee by so notifying the Trustee and the Company and may appoint a successor Trustee with the written consent of the Company. 

(d) Any resignation or removal of the Trustee and appointment of a successor trustee with respect to the Securities pursuant to any of the
provisions of this Section 9.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 9.11. 

(e) At any time there shall be only one Trustee with respect to the Securities. 

Section 9.11. Acceptance of Appointment by Successor. 

(a) In case of the appointment hereunder of a successor trustee with respect to the Securities, every such successor trustee so appointed shall
execute, acknowledge and deliver to the Company and to the retiring Trustee an instrument accepting such appointment, and thereupon the resignation or removal of the retiring Trustee shall become effective and such successor trustee, without any
further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee; but, on the request of the Company or the successor trustee, such retiring Trustee shall, upon payment of its charges,
execute and deliver an instrument transferring to such successor trustee all the rights, powers, and trusts of the retiring Trustee and shall duly assign, transfer and deliver to such successor trustee all property and money held by such retiring
Trustee hereunder. 
 (b) Upon request of any such successor trustee, the Company shall execute any and all instruments for more fully and
certainly vesting in and confirming to such successor trustee all such rights, powers and trusts referred to in paragraph (a) of this Section 9.11. 

(c) No successor trustee shall accept its appointment unless at the time of such acceptance such successor trustee shall be qualified and
eligible under this Article 9. 
 (d) Upon acceptance of appointment by a successor trustee as provided in this Section 9.11, the
Company shall transmit notice of the succession of such trustee hereunder by mail, first class postage prepaid, to the Holders, as their names and addresses appear upon the Register. If the Company fails to transmit such notice within ten days after
acceptance of appointment by the successor trustee, the successor trustee shall cause such notice to be transmitted at the expense of the Company. 

  
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 Section 9.12. Merger, Conversion, Consolidation or Succession to Business. Any
corporation into which the Trustee may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or any corporation succeeding to all
or substantially all of the corporate trust business of the Trustee (including the administration of the trust created by this Indenture), shall be the successor of the Trustee hereunder, provided that such corporation shall be qualified under the
provisions of Section 9.08 and eligible under the provisions of Section 9.09, without the execution or filing of any paper or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding. In
case any Securities shall have been authenticated, but not delivered, by the Trustee then in office, any successor by merger, conversion or consolidation to such authenticating Trustee may adopt such authentication and deliver the Securities so
authenticated with the same effect as if such successor Trustee had itself authenticated such Securities. 
 ARTICLE 10 

AMENDMENTS, SUPPLEMENTS AND WAIVERS 

Section 10.01. Without Consent of Holders. The Company and the Trustee may amend or supplement this Indenture or the Securities
without notice to, or consent of, any Holder to: 
 (a) provide for the assumption by a successor corporation of the obligations of the
Company under this Indenture pursuant to Article 7; 
 (b) secure the Securities; 

(c) make provisions with respect to the conversion rights of Holders of Securities pursuant to Section 5.13 and pursuant to the applicable
provisions of this Indenture; 
 (d) surrender any right or power conferred upon the Company; 

(e) add to the Company’s covenants for the benefit of the Holders of the Securities; 

(f) cure any ambiguity or correct or supplement any inconsistent or otherwise defective provision contained in this Indenture, so long as such
modification or amendment does not adversely affect the interests of the Holders of the Securities in any material respect; 
 (g) make any
provision with respect to matters or questions arising under this Indenture that the Company may deem necessary or desirable and that shall not be inconsistent with provisions of this Indenture; provided that such change or modification does not, in
the good faith opinion of the Board of Directors of the Company, adversely affect the interests of the Holders of the Securities in any material respect; provided, further, that any amendment made solely to conform the provisions of this Indenture
to the section of the Offering Memorandum captioned “Description of the Notes” shall be deemed not to adversely affect the interests of the Holders; 

  
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 (h) increase the Conversion Rate; 

(i) provide that the Securities are convertible into reference property, in connection with any transaction described in Section 5.13,
subject to the provisions of Section 5.03, and make such related changes to the terms of the Securities to the extent expressly required by Section 5.13; 

(j) comply with the rules of any applicable securities depositary, including the Depositary; 

(k) add guarantees of obligations under the Securities; 

(l) provide for a successor Trustee in accordance with the terms of this Indenture or to otherwise comply with any requirement of this
Indenture; and 
 (m) conform the provisions of this Indenture to the “Description of Notes” section of the Offering
Memorandum. 
 Section 10.02. With Consent of Holders. The Company and the Trustee may amend or supplement the Securities or
this Indenture with the consent of the Holders of at least a majority in aggregate principal amount of the Securities then outstanding. The Holders of at least a majority in aggregate principal amount of the Securities then outstanding may waive
compliance in any instance by the Company with any provision of the Securities or this Indenture without notice to any Holder. However, notwithstanding the foregoing but subject to Section 10.03, without the consent of the Holders of each
Security then outstanding, an amendment, supplement or waiver may not: 
 (a) change the Maturity Date of the principal of the Securities;

 (b) reduce the rate or extend the time for payment of interest, including any Additional Interest, if any on any Securities; 

(c) reduce the principal amount of any Securities; 

(d) reduce any amount payable upon repurchase of any Securities; 

(e) impair the right of a Holder to institute suit for payment of any Securities; 

(f) change the currency of payment of principal of, Fundamental Change Repurchase Price or rate of interest (including Additional Interest, if
any) of the Securities; 
 (g) change the Company’s obligation to repurchase any Securities at the option of the Holder after the
occurrence of a Fundamental Change in a manner adverse to the Holders; 

  
 69 

 (h) make any change that impairs or adversely affects the conversion rights of any Security; or

 (i) modify any of the provisions of Section 8.02 or this Section 10.02, or reduce the percentage of the Securities required for
consent to any modification of this Indenture that does not require the consent of each affected Holder. 
 It shall not be necessary for
the consent of the Holders under this Section 10.02 to approve the particular form of any proposed amendment, supplement or waiver, but it shall be sufficient if such consent approves the substance thereof. 

After an amendment, supplement or waiver under this Section 10.02 becomes effective, the Company shall mail to the Holders affected
thereby a notice briefly describing the amendment, supplement or waiver. Any failure of the Company to mail such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such amendment, supplement or waiver.

 Section 10.03. Revocation and Effect of Consents. Until an amendment, supplement or waiver becomes effective, a consent to it
by a Holder is a continuing consent by the Holder and every subsequent Holder of a Security or portion of a Security that evidences the same debt as the consenting Holder’s Security, even if notation of the consent is not made on any Security.
However, any such Holder or subsequent Holder may revoke the consent as to its Security or portion of a Security if the Trustee receives the notice of revocation before the date the amendment, supplement or waiver becomes effective. 

After an amendment, supplement or waiver becomes effective, it shall bind every applicable Holder. 

Section 10.04. Notation on or Exchange of Securities. If an amendment, supplement or waiver changes the terms of a Security, the
Trustee may require the Holder of the Security to deliver it to the Trustee. The Trustee may place an appropriate notation on the Security about the changed terms and return it to the Holder. Alternatively, if the Company or the Trustee so
determines, the Company in exchange for the Security shall issue and the Trustee shall authenticate a new Security that reflects the changed terms. 

Section 10.05. Trustee to Sign Amendments, Etc. The Trustee shall sign any amendment or supplemental indenture authorized pursuant
to this Article 10 if the amendment or supplemental indenture does not adversely affect the rights, duties, liabilities or immunities of the Trustee. If it does, the Trustee may, in its sole discretion, but need not sign it. In signing or refusing
to sign such amendment or supplemental indenture, the Trustee shall be entitled to receive and, subject to Section 9.01, shall be fully protected in relying upon, an Officer’s Certificate and an Opinion of Counsel stating that such
amendment or supplemental indenture is authorized or permitted by this Indenture. 

  
 70 

 Section 10.06. Effect of Supplemental Indentures. Upon the execution of any
supplemental indenture under this Article 10, this Indenture shall be modified in accordance therewith, and such supplemental indenture shall form a part of this Indenture for all purposes; and every Holder of Securities theretofore or thereafter
authenticated and delivered hereunder shall be bound thereby. 
 ARTICLE 11 

[RESERVED] 
 ARTICLE
12 
 SATISFACTION AND DISCHARGE 

Section 12.01. Satisfaction and Discharge of the Indenture. This Indenture shall cease to be of further effect (except as to any
surviving rights of registration of transfer or exchange of Securities and rights of the Trustee herein expressly provided for), and the Trustee, on demand of and at the expense of the Company, shall execute such instruments acknowledging
satisfaction and discharge of this Indenture reasonably requested by the Company, when 
 (a) either 

(i) all Securities theretofore authenticated and delivered (other than Securities that have been destroyed, lost or stolen and
which have been replaced or paid as provided in Section 2.10) have been delivered to the Trustee for cancellation; or 

(ii) all such Securities not theretofore delivered to the Trustee for cancellation have become due and payable or shall become
due and payable within one year, in each case whether at the Maturity Date or with respect to any Fundamental Change Repurchase Date or by delivery of a Conversion Notice or otherwise, and the Company deposits with the Paying Agent or Conversion
Agent, as the case may be, cash or a combination of cash and Common Stock, as applicable, sufficient to pay all amounts due and owing, or to become due and owing, to the Maturity Date on all outstanding Securities (other than Securities replaced
pursuant to Section 2.10); 
 (b) the Company has paid or caused to be paid all other sums payable hereunder by the Company; and 

(c) the Company has delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that all conditions
precedent herein provided for relating to the satisfaction and discharge of this Indenture have been complied with. 
 Notwithstanding the
satisfaction and discharge of this Indenture, the obligations of the Company as to conversion of the Securities under Article 5 of this Indenture and pursuant to the covenants under Article 7 of this Indenture and to the Trustee under
Section 9.06 and, if money shall have been deposited with the Trustee pursuant to Section 12.01(a)(ii), the obligations of the Trustee under Section 12.02 shall survive. 

  
 71 

 Section 12.02. Repayment to the Company. The Trustee and the Paying Agent shall
return to the Company upon written request any cash or securities held by them for the payment of any amount with respect to the Securities that remains unclaimed for two years, subject to applicable unclaimed property law. After return to the
Company, Holders entitled to the cash or securities must look to the Company for payment as general creditors unless an applicable abandoned property law designates another Person and the Trustee and the Paying Agent shall have no further liability
to the Holders with respect to such cash or securities for that period commencing after the return thereof. 
 ARTICLE 13 

MISCELLANEOUS 

Section 13.01. Notices. Any demand, authorization notice, request, consent or communication shall be given in writing and
delivered in person or mailed by first-class mail, postage prepaid, addressed as follows or transmitted by facsimile transmission (confirmed by delivery in person or mail by first-class mail, postage prepaid, or by guaranteed overnight courier) to
the following facsimile numbers: 
 If to the Company, to: 

Rambus Inc. 
 1050 Enterprise Way,
Suite 700 
 Sunnyvale, CA 94089 

Attention: General Counsel 

Facsimile No.: (408) 462-8001 

if to the Trustee, to: 
 U.S. Bank
National Association 
 633 West Fifth Street, 24th Floor 

Los Angeles, CA 90071 
 Attention:
P. Oswald 
 (Rambus Inc. 1.375% Convertible Senior Notes due 2023) 

Facsimile No.: (213) 615-6197 

Such notices or communications shall be effective when received. 

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

 Any notice or communication mailed to a Holder shall be mailed by first-class mail, postage prepaid, or delivered by an overnight
delivery service to it at its address shown on the Register. 
 Failure to mail a notice or communication to a Holder or any defect in it
shall not affect its sufficiency with respect to other Holders. If a notice or communication to a Holder is mailed or delivered in the manner provided above, it is duly given, whether or not the addressee receives it. 

  
 72 

 Section 13.02. Certificate and Opinion as to Conditions Precedent. 

(a) Upon any request or application by the Company to the Trustee to take any action under this Indenture, the Company shall furnish to the
Trustee at the request of the Trustee: 
 (i) an Officer’s Certificate stating that, in the opinion of the signers, all
conditions precedent (including any covenants, compliance with which constitutes a condition precedent), if any, provided for in this Indenture relating to the proposed action have been complied with; and 

(ii) an Opinion of Counsel stating that, in the opinion of such counsel, all such conditions precedent (including any
covenants, compliance with which constitutes a condition precedent) have been complied with. 
 (b) Each Officer’s Certificate and
Opinion of Counsel with respect to compliance with a condition or covenant provided for in this Indenture shall include: 

(i) a statement that the Person making such certificate or opinion has read such covenant or condition; 

(ii) a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions
contained in such certificate or opinion are based; 
 (iii) a statement that, in the opinion of such Person, he or she has
made such examination or investigation as is necessary to enable him or her to express an informed opinion as to whether or not such covenant or condition has been complied with; and 

(iv) a statement as to whether or not, in the opinion of such Person, such condition or covenant has been complied with; 

provided that with respect to matters of fact an Opinion of Counsel may rely on an Officer’s Certificate or certificates of public officials. 

Section 13.03. Record Date for Vote or Consent of Holders. The Company may set a record date for purposes of determining the
identity of Holders entitled to vote or consent to any action by vote or consent authorized or permitted under this Indenture, which record date shall not be more than 30 days prior to the date of the commencement of solicitation of such action.
Notwithstanding the provisions of Section 10.03, if a record date is fixed, those Persons who were Holders of Securities at the Close of Business on such record date (or their duly designated proxies), and only those Persons, shall be entitled
to take such action by vote or consent or to revoke any vote or consent previously given, whether or not such Persons continue to be Holders after such record date. 

  
 73 

 Section 13.04. Rules by Trustee, Paying Agent, Registrar and Conversion Agent. The
Trustee may make reasonable rules (not inconsistent with the terms of this Indenture) for action by or at a meeting of Holders. Any Registrar, Paying Agent or Conversion Agent may make reasonable rules for its functions. 

Section 13.05. Legal Holidays. A “Legal Holiday” is a Saturday, Sunday or a day on which state or federally chartered
banking institutions in New York, New York and the state in which the Corporate Trust Office is located are not required to be open. If a payment date is a Legal Holiday, payment shall be made on the next succeeding day that is not a Legal Holiday,
and no interest (including Additional Interest, if any) shall accrue for the intervening period. 
 Section 13.06. Governing Law;
Submission to Jurisdiction. This Indenture and the Securities shall be governed by, and construed in accordance with, the laws of the State of New York. THE PARTIES HERETO AGREE TO SUBMIT TO THE JURISDICTION OF ANY UNITED STATES FEDERAL OR STATE
COURT LOCATED IN THE BOROUGH OF MANHATTAN, IN THE CITY OF NEW YORK IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE OR THE NOTES. 

Section 13.07. No Adverse Interpretation of Other Agreements. This Indenture may not be used to interpret another indenture, loan
or debt agreement of the Company or a Subsidiary of the Company. Any such indenture, loan or debt agreement may not be used to interpret this Indenture. 

Section 13.08. No Recourse Against Others. All liability described in paragraph 14 of the Securities of any incorporator or past,
present or future director, officer, employee or stockholder, as such, of the Company and any successor is waived and released. 

Section 13.09. Successors. All agreements of the Company in this Indenture and the Securities shall bind its successors.
All agreements of the Trustee in this Indenture shall bind its successor. 
 Section 13.10. Multiple Counterparts. The parties
may sign multiple counterparts of this Indenture. Each signed counterpart shall be deemed an original, but all of them together represent the same agreement. 

Section 13.11. Separability. In case any provisions in this Indenture or in the Securities shall be invalid, illegal or
unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

Section 13.12. Calculations in Respect of the Securities. The Company or its agents shall make all calculations under this
Indenture and the Securities in good faith. In the absence of manifest error, such calculations shall be final and binding on all Holders. The Company or its agents shall provide a copy of such calculations to the Trustee as required hereunder, and
the Trustee shall be entitled to conclusively rely on the accuracy of any such calculation without independent verification. 

  
 74 

 Section 13.13. Table of Contents, Headings, Etc. The table of contents,
cross-reference sheet and headings of the Articles and Sections of this Indenture have been inserted for convenience of reference only, are not to be considered a part hereof, and shall in no way modify or restrict any of the terms or provisions
hereof. 
 Section 13.14. Waiver of Jury Trial. EACH OF THE COMPANY AND THE TRUSTEE AND EACH HOLDER OF A NOTE, BY ITS ACCEPTANCE
THEREOF, HEREBY AND THEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE NOTES OR ANY OF THE TRANSACTIONS
CONTEMPLATED THEREBY OR HEREBY. 
 Section 13.15. Force Majeure. In no event shall the Trustee be responsible or liable for any
failure or delay in the performance of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or
military disturbances, nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services; it being understood that the Trustee shall use reasonable
efforts that are consistent with accepted practices in the banking industry to resume performance as soon as practicable under the circumstances. 

Section 13.16. USA PATRIOT Act. The parties hereto acknowledge that in accordance with Section 326 of the USA PATRIOT Act,
the Trustee, like all financial institutions and in order to help fight the funding of terrorism and money laundering, is required to obtain, verify, and record information that identifies each person or legal entity that establishes a relationship
or opens an account. The Company agrees that it will provide the Trustee with such information as the Trustee may reasonably request in order for the Trustee to satisfy the requirements of the USA PATRIOT Act. 

[Signature Page Follows] 
  

  
 75 

 IN WITNESS WHEREOF, the parties hereto have hereunto set their hands as of the date and year
first above written. 
  

			
	RAMBUS INC.
		
	By:	 	 /s/ Rahul Mathur

		 	Name: Rahul Mathur
		 	 Title: Senior Vice President, Finance

          and Chief Financial Officer

  

			
	 U.S. BANK NATIONAL ASSOCIATION,

as Trustee

		
	By:	 	 /s/ Paula Oswald

		 	Name: Paula Oswald
		 	Title: Vice President

 SCHEDULE A 

The following table sets forth an indicative number of additional shares to be received per $1,000 principal amount of notes: 

 

																																													
	 	  	Stock Price	 
	 Effective date
	  	$14.56	 	  	$16.00	 	  	$17.50	 	  	$18.93	 	  	$20.00	 	  	$25.00	 	  	$30.00	 	  	$35.00	 	  	$40.00	 	  	$45.00	 	  	$55.00	 
	 November 17, 2017
	  	 	15.8495	 	  	 	12.6250	 	  	 	10.0512	 	  	 	8.1540	 	  	 	7.0004	 	  	 	3.5692	 	  	 	1.8904	 	  	 	1.0078	 	  	 	0.5211	 	  	 	0.2456	 	  	 	0.0115	 
	 February 1, 2018
	  	 	15.8495	 	  	 	12.7289	 	  	 	10.1252	 	  	 	8.2089	 	  	 	7.0453	 	  	 	3.5965	 	  	 	1.9195	 	  	 	1.0427	 	  	 	0.5615	 	  	 	0.2910	 	  	 	0.0528	 
	 February 1, 2019
	  	 	15.8495	 	  	 	12.2674	 	  	 	9.5751	 	  	 	7.6176	 	  	 	6.4426	 	  	 	3.0579	 	  	 	1.5047	 	  	 	0.7408	 	  	 	0.3474	 	  	 	0.1408	 	  	 	0.0000	 
	 February 1, 2020
	  	 	15.8495	 	  	 	11.9062	 	  	 	9.0697	 	  	 	7.0397	 	  	 	5.8404	 	  	 	2.5218	 	  	 	1.1236	 	  	 	0.4956	 	  	 	0.2002	 	  	 	0.0590	 	  	 	0.0000	 
	 February 1, 2021
	  	 	15.8495	 	  	 	11.3631	 	  	 	8.3164	 	  	 	6.1884	 	  	 	4.9635	 	  	 	1.8030	 	  	 	0.6670	 	  	 	0.2381	 	  	 	0.0674	 	  	 	0.0019	 	  	 	0.0000	 
	 February 1, 2022
	  	 	15.8495	 	  	 	10.4731	 	  	 	7.0459	 	  	 	4.7587	 	  	 	3.5142	 	  	 	0.7973	 	  	 	0.1721	 	  	 	0.0305	 	  	 	0.0000	 	  	 	0.0000	 	  	 	0.0000	 
	 February 1, 2023
	  	 	15.8495	 	  	 	9.6682	 	  	 	4.3111	 	  	 	0.0000	 	  	 	0.0000	 	  	 	0.0000	 	  	 	0.0000	 	  	 	0.0000	 	  	 	0.0000	 	  	 	0.0000	 	  	 	0.0000	 

 EXHIBIT A 

[FORM OF FACE OF SECURITY] 

[UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION
(“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF
DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE
REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY IS
EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE AND, UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR SECURITIES IN
DEFINITIVE FORM, THIS SECURITY MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH
NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY.]1 
 [THIS
SECURITY AND THE COMMON STOCK, IF ANY, ISSUABLE UPON CONVERSION OF THIS SECURITY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE
TRANSFERRED EXCEPT IN ACCORDANCE WITH THE FOLLOWING SENTENCE. BY ITS ACQUISITION HEREOF OR OF A BENEFICIAL INTEREST HEREIN, THE ACQUIRER: 

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

 

	1 	This legend is to be included only if the Security is a Global Security. 

  
 1 

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

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

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

(C) TO A QUALIFIED INSTITUTIONAL BUYER IN COMPLIANCE WITH RULE 144A UNDER THE SECURITIES ACT, OR 

(D) PURSUANT TO AN EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE SECURITIES ACT OR ANY OTHER AVAILABLE EXEMPTION
FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. 
 PRIOR TO THE REGISTRATION OF ANY TRANSFER IN ACCORDANCE WITH CLAUSE (2)(D)
ABOVE, THE COMPANY AND THE TRUSTEE RESERVE THE RIGHT TO REQUIRE THE DELIVERY OF SUCH LEGAL OPINIONS, CERTIFICATIONS OR OTHER EVIDENCE AS MAY REASONABLY BE REQUIRED IN ORDER TO DETERMINE THAT THE PROPOSED TRANSFER IS BEING MADE IN COMPLIANCE WITH THE
SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS. NO REPRESENTATION IS MADE AS TO THE AVAILABILITY OF ANY EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.]2 

 
  

	2 	This legend is to be included only if the Security is a Restricted Security. 

  
 2 

 Rambus Inc. 

1.375% Convertible Senior Notes due 2023 
  

			
	 No. [            ]
	  	U.S. $[    ]

 CUSIP: [            ] 

ISIN: [            ] 

Rambus Inc., a Delaware corporation (the “Company”, which term shall include any successor Person under the Indenture
referred to on the reverse hereof), for value received, promises to pay to Cede & Co., or registered assigns, the principal amount of              Dollars
($            ), or such greater or lesser amount as is indicated on the Schedule of Exchanges of Securities on the reverse side of this Security on February 1, 2023 unless earlier
converted, or repurchased, and to pay interest thereon as set forth in the manner, at the rates and to the Persons set forth in the Indenture and the reverse hereof. Payment of the principal of this Security shall be made in the form and manner set
forth in the Indenture and the reverse hereof. 
 Reference is hereby made to the further provisions of this Security set forth on the
reverse side of this Security, including, without limitation, provisions giving the Holder the right to convert this Security into shares of Common Stock of the Company and to require the Company to repurchase this Security upon certain events, in
each case, on the terms and subject to the limitations referred to on the reverse hereof and as more fully specified in the Indenture. Such further provisions shall for all purposes have the same effect as though fully set forth at this place.
Capitalized terms used but not defined herein shall have such meanings as are ascribed to such terms in the Indenture. 
 This Security
shall be deemed to be a contract made under the laws of the State of New York, and for all purposes shall be construed in accordance with and governed by the laws of said State. 

This Security shall not be valid or become obligatory for any purpose until the certificate of authentication hereon shall have been manually
signed by the Trustee or a duly authorized authenticating agent under the Indenture. 
 [Signature page follows] 

  
 1 

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

 

	
	RAMBUS INC.
	
	By:
                                         
                                
	        Name:
	        Title:
	Date:

  

			
	 TRUSTEE’S CERTIFICATION OF AUTHENTICATION
  

U.S. BANK NATIONAL ASSOCIATION, as Trustee, certifies that this is one of the Securities described in the within-mentioned Indenture.

		
	By:	 	  

		 	Authorized Signatory
	Date:	 	

  
 2 

 [FORM OF REVERSE SIDE OF SECURITY] 

Rambus Inc. 
 1.375%
Convertible Senior Notes due 2023 
 This Security is one of a duly authorized issue of 1.375% Convertible Senior Notes due 2023 (the
“Securities”) of the Company issued under an Indenture, dated as of November 17, 2017 (the “Indenture”), between the Company and U.S. Bank National Association, as trustee (the “Trustee”). The
terms of the Security include those stated in the Indenture and those set forth in this Security. This Security is subject to all such terms, and Holders are referred to the Indenture for a statement of all such terms. To the extent permitted by
applicable law, if any provision of this Security conflicts with the express provisions of the Indenture, the provisions of the Indenture shall govern and be controlling. Capitalized terms used but not defined herein have the meanings assigned to
them in the Indenture unless otherwise indicated. 
  

	 	1.	Interest. 

 Subject to adjustment under Section 8.04 of the Indenture, this Security
shall bear interest at a rate of 1.375% per annum on the principal amount. Interest on this Security shall accrue from the most recent date to which interest has been paid or, if no interest has been paid, from November 17, 2017. Interest will
be payable semi-annually, in arrears, on each February 1 and August 1, beginning on August 1, 2018, to holders of record at the Close of Business on the immediately preceding January 15 and July 15, respectively. Interest
will be computed on the basis of a 360-day year composed of twelve 30-day months. If a payment date is not a Business Day, payment will be made on the next succeeding
Business Day, and no interest (including Additional Interest, if any) will accrue in respect of the delay. 
 Interest (including Additional
Interest, if any) will cease to accrue on the Securities upon the Maturity Date or their conversion or repurchase by the Company at the option of the Holder. 
  

	 	2.	Method of Payment. 

 Payment of the principal of the Securities shall be made at the
Corporate Trust Office of the Trustee in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. The Holder must surrender this Security to a Paying Agent to collect
payment of principal. Payment of interest including Additional Interest, if any, on Certificated Securities shall be made by check mailed to the address of the Person entitled thereto as such address appears in the Register; provided,
however, that Holders with Securities in an aggregate principal amount in excess of $5,000,000 shall be paid, at their written election, by wire transfer of immediately available funds. Notwithstanding the foregoing, so long as the Securities
are registered in the name of a Depositary or its nominee, all payments with respect to the Securities shall be made by wire transfer of immediately available funds to the account of the Depositary or its nominee. 

  
 1 

	 	3.	Paying Agent, Registrar and Conversion Agent. 

 Initially, the Trustee will act as Paying
Agent, Registrar and Conversion Agent. The Company or any Affiliate of the Company may act as Paying Agent, Registrar or Conversion Agent. 
  

	 	4.	Indenture. 

 The Securities are general unsecured senior obligations of the Company. The
Indenture does not limit the ability of the Company to incur other debt, secured or unsecured. 
  

	 	5.	No Optional Redemption 

 The Securities shall not be redeemable by the Company prior to
the Maturity Date, and no sinking fund is provided for the Securities. 
  

	 	6.	Purchase by the Company at the Option of the Holder Upon a Fundamental Change. 

 Subject
to the terms and conditions of the Indenture, the Company shall become obligated to purchase, at the option of any Holder, all or any portion of the Securities held by such Holder upon a Fundamental Change in principal amounts of $1,000 or multiples
of $1,000 at the Fundamental Change Repurchase Price. To exercise such right, a Holder shall deliver to the Paying Agent, and the Paying Agent must receive, a Fundamental Change Repurchase Notice containing the information set forth in the
Indenture, at any time prior to the Close of Business on the Business Day immediately preceding the Fundamental Change Repurchase Date, and shall deliver the Securities to the Paying Agent as set forth in the Indenture. 

Holders have the right to withdraw (in whole or in part) any Fundamental Change Repurchase Notice by delivering to the Paying Agent a written
notice of withdrawal in accordance with the provisions of the Indenture. 
 If cash sufficient to pay the Fundamental Change Repurchase
Price of all Securities or portions thereof to be purchased with respect to a Fundamental Change Repurchase Date is deposited with the Paying Agent by 10:00 a.m., New York City time, on the Fundamental Change Repurchase Date, then, immediately after
such Fundamental Change Repurchase Date, such Securities shall cease to be outstanding and interest (including Additional Interest, if any) on such Securities shall cease to accrue, whether or not such Securities are delivered by their Holders to
the Paying Agent, and the Holders thereof shall have no other rights as such (other than the right to receive the Fundamental Change Repurchase Price upon delivery of such Securities by their Holders to the Paying Agent). 

  
 2 

	 	7.	Conversion. 

 Subject to the provisions of the Indenture (including without limitation
the conditions of conversion of Securities set forth in Article 5 thereof), the Holder hereof has the right, at its option, prior to the Close of Business on the second Scheduled Trading Day immediately preceding the Maturity Date, to convert the
principal amount hereof or any portion of such principal which is $1,000 or a multiple thereof, into cash and shares of Common Stock, at the Conversion Rate specified in the Indenture. The initial Conversion Rate is 52.8318 shares of Common Stock
per $1,000 principal amount of Securities (equivalent to an initial Conversion Price of approximately $18.93 per share of Common Stock), subject to adjustment in certain events described in the Indenture. 

Upon conversion, the Company will pay cash up to the aggregate principal amount of the Securities to be converted, and, cash, shares of Common
Stock, or a combination of cash and shares of Common Stock, at the Company’s election, in respect of the remainder, based on a Settlement Amount calculated on a proportionate basis for each day of the Observation Period, as set forth in the
Indenture. No fractional shares will be issued upon any conversion, but an adjustment and payment in cash will be made, as provided in the Indenture, in respect of any fraction of a share which would otherwise be issuable upon the surrender of any
Securities for conversion. Securities in respect of which a Holder is exercising its right to require repurchase on a Fundamental Change Repurchase Date may be converted only if such Holder withdraws its election to exercise such right in accordance
with the terms of the Indenture; 
  

	 	8.	Denominations; Transfer; Exchange. 

 The Securities are in registered form, without
coupons, in denominations of $1,000 and multiples of $1,000. A Holder may register the transfer of or exchange Securities in accordance with the Indenture. The Registrar may require a Holder, among other things, to furnish appropriate endorsements
and transfer documents and to pay any taxes, assessments or other governmental charges that may be imposed in relation thereto by law or permitted by the Indenture. 
  

	 	9.	Persons Deemed Owners. 

 The registered Holder of a Security may be treated as the owner
of such Security for all purposes. 
  

	 	10.	Unclaimed Money or Securities. 

 The Trustee and the Paying Agent shall return to the
Company upon written request any cash or securities held by them for the payment of any amount with respect to the Securities that remains unclaimed for two years, subject to applicable unclaimed property law. After return to the Company, Holders
entitled to the cash or securities must look to the Company for payment as general creditors unless an applicable abandoned property law designates another Person. 

  
 3 

	 	11.	Amendment, Supplement and Waiver. 

 Subject to certain exceptions, the Securities or the
Indenture may be amended or supplemented with the consent of the Holders of at least a majority in aggregate principal amount of the Securities then outstanding, and an existing Default or Event of Default with respect to the Securities and its
consequence or compliance with any provision of the Securities or the Indenture may be waived in any instance with the consent of the Holders of at least a majority in aggregate principal amount of the Securities then outstanding. Without the
consent of or notice to any Holder, the Company and the Trustee may amend or supplement the Indenture or the Securities to, among other things, cure any ambiguity, defect, omission, mistake or inconsistency or make a change that does not adversely
affect in any material respect the interests of the Holders. 
  

	 	12.	Additional Securities. 

 Subject to the terms of the Indenture, Additional Securities may
be issued by the Company, without the consent of the Holders, with the same terms and with the same CUSIP number as the Securities in an unlimited aggregate principal amount; provided, however, that if any such Additional Securities
are not fungible with this Security for United States Federal income tax purposes, such Additional Securities will have one or more separate CUSIP numbers. 
  

	 	13.	Defaults and Remedies. 

 If any Event of Default other than as a result of certain events
of bankruptcy, insolvency or reorganization of the Company occurs and is continuing, the principal of all the Securities then outstanding plus accrued and unpaid interest (including Additional Interest, if any), may be declared due and payable in
the manner and with the effect provided in the Indenture. If an Event of Default occurs as a result of certain events of bankruptcy, insolvency or reorganization of the Company, the principal amount of the Securities plus accrued and unpaid interest
(including Additional Interest, if any) shall become due and payable immediately without any declaration or other act on the part of the Trustee or any Holder, all to the extent provided in the Indenture. 

 

	 	14.	No Recourse Against Others. 

 No recourse under or upon any obligation, covenant or
agreement contained in the Indenture, or in this Security, or because of any indebtedness evidenced thereby or hereby, shall be had against any incorporator, as such, or against any past, present or future employee, stockholder, officer or director,
as such, of the Company or of any successor, either directly or through the Company or any successor, under any rule of law, statute or constitutional provision or by the enforcement of any assessment or by any legal or equitable proceeding or
otherwise, all such liability being expressly waived and released by the acceptance of the Securities by the Holders and as part of the consideration for the issuance of the Securities. 

  
 4 

	 	15.	Trustee Dealings with the Company. 

 Subject to certain limitations imposed by the
Indenture, the Trustee under the Indenture, in its individual or any other capacity, may become the owner or pledgee of Securities and may otherwise deal with and collect obligations owed to it by the Company or its Affiliates and may otherwise deal
with the Company or its Affiliates with the same rights it would have if it were not the Trustee. 
  

	 	16.	Authentication. 

 This Security shall not be valid until the Trustee or an authenticating
agent manually signs the certificate of authentication on the other side of this Security. 
  

	 	17.	Abbreviations. 

 Customary abbreviations may be used in the name of the Holder or an
assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian) and UGMA (= Uniform Gifts to Minors Act). 

 

	 	18.	Indenture to Control; Governing Law. 

 To the extent permitted by applicable law, if any
provision of this Security conflicts with the express provisions of the Indenture, the provisions of the Indenture shall govern and be controlling. This Security shall be governed by, and construed in accordance with, the laws of the State of New
York. 
  

	 	19.	Copies of Indenture. 

 The Company will furnish to any Holder, upon written request and
without charge, a copy of the Indenture. Requests may be made to: Rambus Inc., 1050 Enterprise Way, Suite 700, Sunnyvale, CA 94089, Facsimile No. (408) 462-8001, Attention: General Counsel. 

  
 5 

 SCHEDULE OF EXCHANGES OF SECURITIES3

 Rambus Inc. 
 1.375%
Convertible Senior Notes due 2023 
 The following exchanges, purchases or conversions of a part of this Global Security have been made:

  

									
	 Date of

Decrease or

Increase
	 	 Authorized

Signatory of

Securities

Custodian
	 	 Decrease in

Principal
 Amount of
this
 Global Security
	  	 Increase in

Principal
 Amount of
this
 Global Security
	  	 Principal

Amount of this
 Global
Security
Following Such
 Decrease or

Increase

  

 

	3 	This schedule is to be included only if the Security is a Global Security. 

  
 1 

 ASSIGNMENT FORM 

To assign this Security, fill in the form below: 

I or we assign and transfer this Security to 
  

 
 (Insert assignee’s soc. sec. or
tax ID no.) 
  
  

(Print or type assignee’s name, address and zip code) 

and irrevocably appoint agent to transfer this Security on the books of the Company. The agent may substitute another to act for him. 

In connection with any transfer of the within Security occurring prior to the Resale Restriction Termination Date, as defined in the Indenture governing such
Security, the undersigned confirms that such Security is being transferred: 
 ☐ To Rambus Inc. or a subsidiary thereof; or 

☐ Pursuant to a registration statement, if any, that has become or been declared effective under the Securities Act of 1933, as amended and is effective
at the time of such transfer; or 
 ☐ Pursuant to and in compliance with Rule 144A under the Securities Act of 1933, as amended; or 

☐ Pursuant to and in
compliance with Rule 144 under the Securities Act of 1933, as amended, or any other available exemption from the registration requirements of the Securities Act of 1933, as amended. 

 

			
		  	Your Signature
		
	Date:
                                         
                                         
      	  	                                      
                                         
         
		  	 (Sign exactly as your name appears on the other side

of this Security)

  

	
	Signature Guaranteed
	
	   

	

  
 2 

	
	
	   

	Participant in a Recognized Signature Guarantee Medallion Program

  

	
	By                                      
                                         
          
	Authorized Signatory

 NOTICE: The signature on the assignment must correspond with the name as written upon the face of the Note in every particular
without alteration or enlargement or any change whatever. 

  
 3 

 FORM OF CONVERSION NOTICE 

To convert this Security into the Settlement Amount, check the box ☐ 

To convert only part of this Security, state the principal amount to be converted (which must be $1,000 or a multiple of $1,000): 

If you want the stock certificate, if any, made out in another person’s name fill in the form below: 

 
  

(Insert assignee’s soc. sec. or tax ID no.) 
  

 
 (Print or type assignee’s name,
address and zip code) 
  

	
	
Dated                  
                                         
  

  

	
	 Your Signature:
                                         
                                         
                                         
 

 (Sign exactly as your name appears on the other side of this Security) 

Signature Guaranteed 
  

	
	  

	 Participant in a Recognized Signature
 Guarantee
Medallion Program

  

	
	By
                                        
                                        

	Authorized Signatory

  
 1 

 FORM OF FUNDAMENTAL CHANGE REPURCHASE NOTICE 

U.S. Bank National Association 
 633 West Fifth Street, 24th
Floor 
 Los Angeles, CA 90071 
 Attention: P. Oswald 

 

	 	Re:	Rambus Inc. (the “Company”) 

 1.375% Convertible Senior Notes due 2023 

This is a Fundamental Change Repurchase Notice as defined in Section 4.01(c) of the Indenture, dated as of November 17, 2017 (the
“Indenture”), between the Company and U.S. Bank National Association, as Trustee. Terms used but not defined herein shall have the meanings ascribed to them in the Indenture. 

Certificate No(s). of Securities:
                                         
        
 I intend to deliver the following aggregate principal amount of Securities for purchase by
the Company pursuant to Article 4 of the Indenture (in multiples of $1,000): 
 $ 

I hereby agree that the Securities will be purchased on the Fundamental Change Repurchase Date pursuant to the terms and conditions specified
in the Securities and in the Indenture. 
  

	
	Signed:                                     
                                    
	
	NOTICE: The above signature(s) of the Holder(s) hereof must correspond with the name as written upon the face of the Note in every particular without alteration or enlargement or any change whatever.

  

  
 A-1EX-10.1

 Exhibit 10.1 

Execution Version 

$150,000,000 

RAMBUS INC. 

1.375% CONVERTIBLE SENIOR NOTES DUE 2023 

PURCHASE AGREEMENT 

November 14, 2017 
 BARCLAYS
CAPITAL INC. 
 CREDIT SUISSE SECURITIES (USA) LLC 

DEUTSCHE BANK SECURITIES INC., 

As Representatives of the several 
    Initial
Purchasers named in Schedule I attached hereto, 
 c/o Barclays Capital Inc. 

745 Seventh Avenue 
 New York, New York 10019 

c/o Credit Suisse Securities (USA) LLC 
 Eleven Madison Avenue

 New York, New York 10010 
 c/o Deutsche Bank Securities Inc.

 60 Wall St. 
 New York, New York 10005 

Ladies and Gentlemen: 
 Rambus Inc., a Delaware
corporation (the “Company”), proposes, upon the terms and conditions set forth in this agreement (this “Agreement”), to issue and sell to you, as the initial purchasers (the “Initial
Purchasers”) for whom Barclays Capital Inc. (“Barclays”), Credit Suisse Securities (USA) LLC and Deutsche Bank Securities Inc. are acting as representatives (in such capacity, the
“Representatives”), $150,000,000 in aggregate principal amount of its 1.375% Convertible Senior Notes due 2023 (the “Firm Notes”). The Firm Notes will (i) have terms and provisions that are
summarized in the Offering Memorandum (as defined herein), and (ii) are to be issued pursuant to an Indenture (the “Indenture”) to be entered into between the Company and U.S. Bank National Association, as trustee (the
“Trustee”). The Company also proposes to issue and sell to the Initial Purchasers, not more than an additional $22,500,000 of its 1.375% Convertible Senior Notes due 2023 (the “Additional Notes”) if
and to the extent that the Initial Purchasers shall have determined to exercise the right to purchase such 1.375% Convertible Senior Notes due 2023 granted to the Initial Purchasers in Section 3(b) hereof. The Firm Notes and the Additional
Notes are hereinafter collectively referred to as the “Notes.” The Notes will 

 
be convertible into cash and, if designated by the Company, shares (the “Underlying Common Stock”) of the Company’s common stock, par value $0.001 per share (the
“Common Stock”), as set forth in the Indenture. This Agreement is to confirm the agreement concerning the purchase of the Notes from the Company by the Initial Purchasers. 

In connection with the offering of the Firm Notes, the Company and certain of the Initial Purchasers or their respective affiliates (the
“Call Spread Counterparties”) are entering into convertible note hedge transactions and warrant transactions, in each case pursuant to a convertible note hedge confirmation (each, a “Base Bond Hedge
Confirmation”) and a warrant confirmation (each, a “Base Warrant Confirmation” and, together with the Base Bond Hedge Confirmations, the “Base Call Spread Confirmations”), each dated the
date hereof, and in connection with the issuance of any Additional Notes, the Company and each of the Call Spread Counterparties may enter into an additional convertible note hedge transaction and an additional warrant transaction pursuant to an
additional convertible note hedge confirmation (each, an “Additional Bond Hedge Confirmation”) and an additional warrant confirmation (each, an “Additional Warrant Confirmation” and, together with the
Additional Bond Hedge Confirmations, the “Additional Call Spread Confirmations”), each to be dated the date on which the Initial Purchasers exercise their option to purchase such Additional Notes. Together, the Base Call Spread
Confirmations and the Additional Call Spread Confirmations are referred to herein as the “Call Spread Confirmations”. 

1.    Purchase and Resale of the Notes. The Notes will be offered and sold to the Initial Purchasers without
registration under the Securities Act of 1933, as amended (the “Securities Act”), in reliance on an exemption pursuant to Section 4(a)(2) under the Securities Act. The Company has prepared a preliminary offering
memorandum, dated November 13, 2017 (the “Preliminary Offering Memorandum”) and a pricing term sheet substantially in the form attached hereto as Schedule II (the “Pricing Term Sheet”) setting
forth the terms of the Notes omitted from the Preliminary Offering Memorandum and will prepare an offering memorandum, to be dated November 14, 2017 (the “Offering Memorandum”), setting forth information regarding the
Company and the Notes. The Preliminary Offering Memorandum, as supplemented and amended as of the Applicable Time (as defined herein), together with the Pricing Term Sheet and any of the documents listed on Schedule III(A) hereto are collectively
referred to as the “Pricing Disclosure Package.” The Company hereby confirms that it has authorized the use of the Pricing Disclosure Package and the Offering Memorandum in connection with the offering and resale of the Notes
by the Initial Purchasers. “Applicable Time” means at or prior to 11:30 p.m. (New York City time) on the date of this Agreement. 

Any reference to the Preliminary Offering Memorandum, the Pricing Disclosure Package or the Offering Memorandum shall be deemed to
refer to and include the Company’s most recent Annual Report on Form 10-K (the “Annual Report”) and all subsequent documents filed with the United States Securities and Exchange
Commission (the “Commission”) pursuant to Section 13(a), 13(c), 14 or 15(d) of the United States 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. Any reference to the Preliminary Offering Memorandum, 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 any documents filed with the Commission pursuant to Section 13(a), 13(c), 14 or 15(d) 

 
of the Exchange Act after the date of the Preliminary Offering Memorandum, Pricing Disclosure Package or the Offering Memorandum, as the case may be, and prior to such specified date. All
documents filed under the Exchange Act and so deemed to be included in the Preliminary Offering Memorandum, Pricing Disclosure Package or the Offering Memorandum, as the case may be, or any amendment or supplement thereto are hereinafter called the
“Exchange Act Reports.” 
 You have advised the Company that you will offer and resell (the “Exempt
Resales”) the Notes purchased by you hereunder on the terms set forth in each of the Pricing Disclosure Package and the Offering Memorandum, as amended or supplemented, solely to persons whom you reasonably believe to be “qualified
institutional buyers” as defined in Rule 144A under the Securities Act (“Rule 144A”) (each a “QIB”). Those persons specified above are referred to herein as “Eligible
Purchasers.” 
 2.    Representations, Warranties and Agreements of the Company. The Company
represents, warrants and agrees as follows: 
 (a)    When the Notes are issued and delivered pursuant to this
Agreement, such Notes will not be of the same class (within the meaning of Rule 144A) as securities of the Company that are listed on a national securities exchange registered under Section 6 of the Exchange Act or that are quoted in a United
States automated inter-dealer quotation system. 
 (b)    Assuming the accuracy of your representations and warranties
in Section 3(c) and the Initial Purchasers compliance with their agreements set forth herein, the purchase and resale of the Notes pursuant hereto (including pursuant to the Exempt Resales) are exempt from the registration requirements of the
Securities Act. 
 (c)    No form of general solicitation or general advertising within the meaning of Regulation D
under the Securities Act (“Regulation D”) (including, but not limited to, advertisements, articles, notices or other communications published in any newspaper, magazine or similar medium or broadcast over television or radio,
or any seminar or meeting whose attendees have been invited by any general solicitation or general advertising) (each, a “General Solicitation”) was used by the Company, any of its affiliates or any of its representatives
(other than you, as to whom the Company makes no representation) in connection with the offer and sale of the Notes. 

(d)    Each of the Preliminary Offering Memorandum, the Pricing Disclosure Package and the Offering Memorandum, each as of
its respective date, contains all the information specified in, and meeting the requirements of, Rule 144A(d)(4). 

(e)    Neither the Company nor any of its affiliates (as defined under Rule 501(b) of Regulation D) has, directly or
indirectly through any agent, sold or issued any securities that would be integrated with the offering of the Notes contemplated by this Agreement pursuant to the Securities Act, the rules and regulations thereunder or the interpretations thereof by
the Commission in a manner that would require registration of the Notes under the Securities Act. 

 (f)    The Preliminary Offering Memorandum, the Pricing Disclosure Package
and the Offering Memorandum have been prepared by the Company for use by the Initial Purchasers in connection with the Exempt Resales. 

(g)    The Offering Memorandum will not, as of its date or as of the Closing Date, contain any untrue statement of a
material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided that no representation or warranty is made as to information
contained in or omitted from the Offering Memorandum in reliance upon and in conformity with written information furnished to the Company through the Representatives by or on behalf of the Initial Purchasers specifically for inclusion therein, which
information is specified in Section 8(e). 
 (h)    The Pricing Disclosure Package did not, as of the Applicable
Time, contain any 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 that no
representation or warranty is made as to information contained in or omitted from the Pricing Disclosure Package in reliance upon and in conformity with written information furnished to the Company through the Representatives by or on behalf of the
Initial Purchasers specifically for inclusion therein, which information is specified in Section 8(e). 

(i)    Other than the Preliminary Offering Memorandum, the Pricing Disclosure Package and the Offering Memorandum, the
Company (including its agents and representatives, other than the Initial Purchasers in their capacity as such) has not made, used prepared, authorized, approved or referred to and will not prepare, make, use, authorize, approve or refer to any
written communication that constitutes an offer to sell or solicitation of an offer to buy the Notes other than the documents listed on Schedule III hereto, including a term sheet substantially in the form of Schedule II hereto. 

(j)    Each Issuer Written Communication listed (as defined below) in Schedule III(B) hereto, when taken together with the
Pricing Disclosure Package, did not, as of the Applicable Time, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made,
not misleading; provided that no representation or warranty is made as to information contained in or omitted from such Issuer Written Communication listed in Schedule III(B) hereto in reliance upon and in conformity with written information
furnished to the Company through the Representatives by or on behalf of the Initial Purchasers specifically for inclusion therein, which information is specified in Section 8(e). 

(k)    The Exchange Act Reports, when they were or are filed with the Commission, conformed or will conform in all
material respects to the applicable requirements of the Exchange Act and the applicable rules and regulations of the Commission thereunder. The Exchange Act Reports did not and will not, when filed with the Commission, contain an untrue statement of
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. 

 (l)    The Company has been duly incorporated and is validly existing as a
corporation in good standing under the laws of the State of Delaware, with power and authority (corporate and other) to own, lease and operate its properties and conduct its business as described in the Pricing Disclosure Package and the Offering
Memorandum; and the Company is duly qualified to do business as a foreign corporation in good standing in all other jurisdictions in which its ownership or lease of property or the conduct of its business requires such qualification, except to the
extent that the failure to be so qualified or be in good standing would not have a Material Adverse Effect (as defined below). 

(m)    Cryptography Research, Inc., Smart Card Software Ltd. and Ecebs Ltd. are the only Significant Subsidiaries (as such
term is defined in Rule 1-02 of Regulation S-X as promulgated under the Act) of the Company. 

(n)    Except as disclosed in the Pricing Disclosure Package and the Offering Memorandum, since the date of the latest
audited financial statements included in the Pricing Disclosure Package and the Offering Memorandum, there has been no material adverse change, or any development or event involving a prospective material adverse change in the condition (financial
or otherwise), business, properties, operations or results of operations of the Company and its subsidiaries, taken as a whole (“Material Adverse Effect”), and there has been no dividend or distribution of any kind declared,
paid or made by the Company with respect to its capital stock; and there has not been any change in the capital stock of the Company (other than any change in the number of outstanding shares of Common Stock due to the issuance of shares upon the
exercise of outstanding options or warrants). 
 (o)    The Company has an authorized capitalization as set forth in the
Pricing Disclosure Package and the Offering Memorandum under the heading “Capitalization”; except as described in or expressly contemplated by the Pricing Disclosure Package and the Offering Memorandum, there are no outstanding rights
(including, without limitation, pre-emptive rights), warrants or options to acquire, or instruments convertible into or exchangeable for, any shares of capital stock or other equity interest in the Company or
any of its subsidiaries, or any contract, commitment, agreement, understanding or arrangement of any kind relating to the issuance of any capital stock of the Company or any such subsidiary, any such convertible or exchangeable securities or any
such rights, warrants or options; the capital stock of the Company conforms in all material respects to the description thereof contained in the Pricing Disclosure Package and the Offering Memorandum. 

(p)    The Company has full right, power and authority to execute and deliver this Agreement, the Indenture and the Notes
(collectively, the “Transaction Documents”) and to perform its obligations hereunder and thereunder; and all action required to be taken for the due and proper authorization, execution and delivery by it of each of the
Transaction Documents and the consummation by it of the transactions contemplated thereby or by the Pricing Disclosure Package and the Offering Memorandum has been duly and validly taken. 

(q)    The Indenture has been duly authorized by the Company and, when duly executed and delivered in accordance with its
terms by each of the parties thereto, will constitute a valid and legally binding agreement of the Company enforceable against the Company in accordance with its terms, except as enforceability may be limited by applicable bankruptcy,

 
insolvency, fraudulent transfer, reorganization, moratorium or similar laws affecting creditors’ rights generally or by equitable principles relating to enforceability, including principles
of commercial reasonableness, good faith and fair dealing (regardless of whether enforcement is sought in a proceeding at law or equity) (collectively, the “Enforceability Exceptions”). 

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

(s)    The Notes have been duly authorized by the Company and, when duly executed, authenticated, issued and delivered as
provided in the Indenture and paid for as provided herein, will be duly and validly issued and outstanding and will constitute valid and legally binding obligations of the Company enforceable against the Company in accordance with their terms,
subject to the Enforceability Exceptions, and will be entitled to the benefits of the Indenture. 
 (t)    Upon issuance
and delivery of the Notes in accordance with this Agreement and the Indenture, the Notes will be convertible at the option of the holder thereof into cash and, if designated by the Company, shares of Common Stock; the maximum number of shares of
Common Stock initially issuable upon conversion of the Notes (including the maximum number of additional shares of Common Stock by which the Conversion Rate (as such term is defined in the Indenture) may be increased upon conversion in connection
with a Make-Whole Fundamental Change (as such term is defined in the Indenture) and assuming (x) the Company elects, upon each conversion of the Notes, to deliver solely shares of Common Stock, other than cash in lieu of any fractional shares,
in settlement of the Conversion Obligation (as such term is defined in the Indenture) of each such conversion in excess of the principal portion of such Notes and (y) the Initial Purchasers exercise their over-allotment option to purchase the
Additional Notes in full (the “Maximum Number of Underlying Common Stock”)) has been duly authorized and reserved and, when issued upon conversion of the Notes in accordance with the terms of the Notes, will be validly
issued, fully paid and non-assessable, and the issuance of such shares of Common Stock will not be subject to any preemptive or similar rights. 

(u)    The Notes, the Indenture and the Underlying Common Stock conform in all material respects to the description
thereof contained in the Pricing Disclosure Package and the Offering Memorandum. 
 (v)    Each of (i) the
execution, delivery and performance of the Indenture and this Agreement, (ii) the issuance and sale of the Notes and compliance with the terms and provisions thereof, and (iii) the issuance and delivery from time to time of the Underlying
Common Stock by the Company upon conversion of the Notes in accordance with the terms of the Notes and the provisions of the Indenture will not result in a breach or violation of any of the terms and provisions of, or constitute a default under,
(A) any statute, any rule, regulation or order of any governmental agency or body or any court, domestic or foreign, having jurisdiction over the Company or any subsidiary of the Company or any of their properties, or (B) any agreement or
instrument to which the Company or any such subsidiary is a party or by which the Company or any such subsidiary is bound or to which any of the properties of the Company or any such subsidiary is subject, or (C) the charter or by laws of the
Company or any such subsidiary, except, in the case of clauses (A) and (B) above, to the extent such breach, violation or default would not reasonably be expected to have a Material Adverse Effect; and the Company has full power and authority
to authorize, issue and sell the Notes. 

 (w)    No consent, approval, authorization, or order of, or filing or
registration with, any governmental agency or body or any court is required for the consummation of the transactions contemplated by this Agreement or the Indenture or in connection with the offering, issuance and sale of the Notes by the Company,
except for as may be required by the securities or Blue Sky laws of various states. 
 (x)    The financial statements
(which term as used in this Agreement includes the related notes and schedules thereto) included in the Pricing Disclosure Package and the Offering Memorandum comply in all material respects with the requirements of the Securities Act and the
Exchange Act and fairly present, in all material respects, the financial position of the Company and its consolidated subsidiaries as of the dates shown and their results of operations and cash flows for the periods shown, and such financial
statements have been prepared in conformity with the generally accepted accounting principles in the United States applied on a consistent basis (“GAAP”). PricewaterhouseCoopers LLP, an independent registered public
accounting firm (“PWC”), which has expressed its opinion with respect to and certified certain financial statements included in the Pricing Disclosure Package and the Offering Memorandum, is an independent registered public
accounting firm within the meaning of Regulation S-X under the Securities Act and the Exchange Act. Any non-audit services provided by PWC to the Company have been
approved by the audit committee of the Company’s board of directors to the extent required by the Exchange Act. The other historical financial information and data included or incorporated by reference in the Offering Memorandum, are, in all
material respects, accurately presented and prepared on a basis consistent with such financial statements and the books and records of the Company. 

(y)    The Company maintains a system of internal accounting controls sufficient to provide reasonable assurances that
(i) transactions are executed in accordance with management’s general or specific authorization; (ii) transactions are recorded as necessary to permit preparation of financial statements in conformity with GAAP or any other criteria
applicable to such statements and to maintain accountability for assets; (iii) access to assets is permitted only in accordance with management’s general or specific authorization; and (iv) the recorded accountability for assets is
compared with existing assets at reasonable intervals and appropriate action is taken with respect to any differences. The Company maintains disclosure controls and procedures (as such term is defined in Rule
13a-15(e) and 15d-15(e) under the Exchange Act) sufficient to provide reasonable assurance that information required to be disclosed by the Company in the reports that
it will file or submit under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the rules and forms of the Commission, including, without limitation, controls and procedures designed to reasonably
ensure that information required to be disclosed by the Company in the reports that it will file or submit under the Exchange Act is accumulated and communicated to the Company’s management, including its principal executive officer or officers
and its principal financial officer or officers, as appropriate to allow timely decisions regarding required disclosure. 

(z)    Except as disclosed in the Pricing Disclosure Package and the Offering Memorandum, the Company has not been advised
of or become aware of (A) any significant 

 
deficiencies in the design or operation of internal controls, that could adversely affect the ability of the Company or any of its subsidiaries to record, process, summarize and report financial
data, or any material weaknesses in internal controls, or (B) any fraud, whether or not material, that involves management or other employees who have a significant role in the internal controls of the Company and each of its subsidiaries; and
(ii) there have been no significant changes in internal controls or in other factors that could significantly affect internal controls, including any corrective actions with regard to significant deficiencies and material weaknesses. 

(aa)    The Company and its directors or officers, in their capacities as such, have complied in all material respects
with the provisions of the Sarbanes-Oxley Act of 2002 and the rules and regulations promulgated in connection therewith. 

(bb)    Except as disclosed in the Pricing Disclosure Package, the Company nor any of its subsidiaries has
(i) sustained any loss or interference with its business from fire, explosion, flood or other calamity, whether or not covered by insurance, or from any labor disturbance or dispute or court or governmental action, order or decree,
(ii) issued or granted any securities, (iii) incurred any liability or obligation, direct or contingent, other than liabilities and obligations that were incurred in the ordinary course of business, (iv) entered into any transaction
not in the ordinary course of business, and/or (v) declared or paid any dividend on its capital stock, partnership or limited liability company interests, as applicable, and since such date, there has not been any change in the capital stock or
long-term debt of the Company or any of its subsidiaries or any adverse change, or any development involving a prospective adverse change, in or affecting the condition (financial or otherwise), results of operations, stockholders’ equity,
properties, management, business or prospects of the Company and its subsidiaries, taken as a whole, in each case except as could not, in the aggregate, reasonably be expected to have a Material Adverse Effect. 

(cc)    Except as disclosed in the Pricing Disclosure Package and the Offering Memorandum, the Company and its
subsidiaries have good and marketable title to all real properties and all other properties and assets owned by them, in each case free from liens, encumbrances and defects that could reasonably be expected to have a Material Adverse Effect; and
except as disclosed in the Pricing Disclosure Package and the Offering Memorandum, the Company and its subsidiaries hold any leased real or personal property under valid and enforceable (as to the Company) leases with no exceptions that could
reasonably be expected to have a Material Adverse Effect. 
 (dd)    The Company and its subsidiaries possess adequate
certificates, authorities or permits issued by appropriate governmental agencies or bodies necessary to conduct the business now operated by them and have not received any notice of proceedings relating to the revocation or modification of any such
certificate, authority or permit that could reasonably be expected to have a Material Adverse Effect. 
 (ee)    The
Company and its subsidiaries own or possess the legal right to use all trademarks, trade names, copyrights, domain names, trade secrets, and, to the Company’s knowledge, patent rights, licenses and other similar rights (collectively,
“Intellectual Property Rights”) necessary to conduct their businesses as now conducted, (as described in the Pricing Disclosure Package and the Offering Memorandum), and except as disclosed in the Pricing

 
Disclosure Package and the Offering Memorandum, the expected expiration of any of such Intellectual Property Rights would not reasonably be expected to result in a Material Adverse Effect. Except
as disclosed in the Pricing Disclosure Package and the Offering Memorandum, the Intellectual Property Rights owned by the Company or its subsidiaries and, to the knowledge of the Company, the Intellectual Property Rights licensed to the Company or
its subsidiaries have not been finally adjudged invalid or unenforceable, in whole or in part. Except as disclosed in the Pricing Disclosure Package and the Offering Memorandum, there is no pending or to the knowledge of the Company, threatened
action, suit, proceeding or claim by others challenging the validity, enforceability or scope of any Intellectual Property Rights that would be reasonably expected to result in a Material Adverse Effect. Except as disclosed in the Pricing Disclosure
Package and the Offering Memorandum, there is no pending or to the knowledge of the Company, threatened action, suit, proceeding or claim by others challenging the Company’s rights in or to any Intellectual Property Rights that would be
reasonably expected to result in a Material Adverse Effect. Except as disclosed in the Pricing Disclosure Package and Offering Memorandum, neither the Company nor any of its subsidiaries has received any notice of a claim of infringement,
misappropriation or conflict with Intellectual Property Rights of others, which infringement, misappropriation or conflict would result in a Material Adverse Effect. Except as disclosed in the Pricing Disclosure Package and Offering Memorandum, the
Company is not a party to or bound by any options, licenses or agreements with respect to the Intellectual Property Rights of any other person or entity that are required to be set forth in the Pricing Disclosure Package and Offering Memorandum.
None of the technology or intellectual property used by the Company or its subsidiaries in their businesses has been obtained or is being used by the Company or its subsidiaries (i) in violation of any contractual obligation to which the
Company or its subsidiaries is a party or, (ii) to the Company’s knowledge, otherwise in material violation of the rights of any persons. Except as disclosed in the Pricing Disclosure Package and Offering Memorandum, the licenses that the
Company has entered into in connection with its Intellectual Property and which are required to be filed with the Commission and are currently in effect, including, but not limited to, cross-license agreements, royalty-generating contracts and
international licenses (the “Material Contracts”) are valid, binding (as to the Company) and, to its knowledge, the other party and remain in full force and effect and the Company has not received any notice of any material
breach or any material default under such agreement which breach or default has not been cured or waived and neither the Company, nor to the knowledge of the Company, any other party to the Material Contracts, is currently in material breach or
default of any Material Contract. 
 (ff)    Except as disclosed in the Pricing Disclosure Package and the Offering
Memorandum, there are no pending actions, suits or proceedings against or affecting the Company, any of its subsidiaries or any of their respective properties that (i) would reasonably be expected to individually or in the aggregate have a
Material Adverse Effect, (ii) would materially and adversely affect the ability of the Company to perform its obligations under the Indenture or this Agreement, or (iii) which are otherwise material in the context of the sale of the Notes;
and no such actions, suits or proceedings are, to the Company’s knowledge, threatened. 
 (gg)    Except as
disclosed in the Pricing Disclosure Package and Offering Memorandum, neither the Company nor any of its subsidiaries (i) is, to the Company’s knowledge, in violation of any statute, any rule, regulation, decision or order of any
governmental agency or body or any court, domestic or foreign, relating to the use, disposal or 

 
release of hazardous or toxic substances or relating to the protection or restoration of the environment or human exposure to hazardous or toxic substances (collectively,
“Environmental Laws”), (ii) owns or operates any real property that to the Company’s knowledge is contaminated with any substance that is subject to any Environmental Laws, (iii) is, to the Company’s knowledge,
liable for any off site disposal or contamination pursuant to any Environmental Laws, or (iv) is, to the Company’s knowledge, subject to any claim relating to any Environmental Laws, which violation, contamination, liability or claim would
reasonably be expected to individually or in the aggregate have a Material Adverse Effect; and the Company is not aware of any pending investigation which would reasonably be expected to lead to such a claim. 

(hh)    The Company and its subsidiaries have paid all federal, state, local and foreign taxes and filed all tax returns
required to be paid or filed through the date hereof, except where the failures to pay or file would not have a Material Adverse Effect; and except as otherwise disclosed in the Pricing Disclosure Package and the Offering Memorandum, there is no tax
deficiency that has been, or could reasonably be expected to be, asserted against the Company or any of its subsidiaries or any of their respective properties or assets, except for such tax deficiencies as would not have a Material Adverse Effect.

 (ii)    The Company is not an open-end investment company, unit investment
trust or face amount certificate company that is or is required to be registered under Section 8 of the United States Investment Company Act of 1940 (the “Investment Company Act”) and the Company is not and, after giving
effect to the offering and sale of the Notes and the application of the proceeds thereof as described in the Pricing Disclosure Package and the Offering Memorandum and after giving effect to the transactions contemplated by the Call Spread
Confirmations, will not be an “investment company” as defined in the Investment Company Act. 
 (jj)    The
Company and its affiliates have not taken, directly or indirectly, any action designed to cause or result in, or that could reasonably be expected to cause or result in, or that has constituted the stabilization or manipulation of the price of any
security of the Company in connection with the offering of the Notes. 
 (kk)    None of the Company, its subsidiaries
and, to the knowledge of the Company, any affiliate, director, officer, agent, employee or other person acting on behalf of the Company or any of its subsidiaries has (i) used any corporate funds for any unlawful contribution, gift,
entertainment or other unlawful expense relating to political activity; (ii) made any direct or indirect unlawful payment to any foreign or domestic government official or employee from corporate funds; (iii) violated or is in violation of
any provision of the Foreign Corrupt Practices Act of 1977; or (iv) made any bribe, rebate, payoff, influence payment, kickback or other unlawful payment. The Company, its subsidiaries and their affiliates have each conducted their businesses
in compliance with all applicable anti-bribery and anti-corruption laws and/or regulations and have instituted and maintain policies and procedures reasonably designed to promote and ensure continued compliance with all applicable anti-bribery and
anti-corruption laws and with the representation and warranty contained herein. 
 (ll)    The operations of the Company
and its subsidiaries are and have been conducted at all times in compliance with applicable financial recordkeeping and reporting 

 
requirements of the Currency and Foreign Transactions Reporting Act of 1970, as amended, the money laundering statutes of all jurisdictions, the 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. 

(mm)    None of the Company, its subsidiaries and to the knowledge of the Company, any director, officer, agent, employee
or affiliate of the Company or any of its subsidiaries is currently subject to any U.S. sanctions administered by the Office of Foreign Assets Control of the U.S. Department of the Treasury (“OFAC”); and the Company will not
directly or indirectly use the proceeds of the offering of the Notes hereunder, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other person or entity, for the purpose of financing the
activities of any person currently subject to any U.S. sanctions administered by OFAC. 
 (nn)    No labor dispute with
the employees of the Company or any subsidiary exists or, to the knowledge of the Company, is imminent that could reasonably be expected to result in a Material Adverse Effect. 

(oo)    The Company and each of its subsidiaries taken as a whole carry, or are covered by, insurance from insurers of
recognized financial responsibility in such amounts and covering such risks as is adequate for the conduct of their respective businesses and the value of their respective properties and as is customary for companies engaged in similar businesses in
similar industries. All policies of insurance of the Company and its subsidiaries are in full force and effect, except where the failure of such policy to be in full force and effect would not reasonably be expected to have a Material Adverse
Effect; the Company and each of its subsidiaries are in compliance with the terms of such policies in all material respects; and neither the Company nor any of its subsidiaries has received notice from any insurer or agent of such insurer that
capital improvements or other expenditures are required or necessary to be made in order to continue such insurance. There are no claims by the Company or any of its subsidiaries under any such policy or instrument as to which any insurance company
is denying liability or defending under a reservation of rights clause; and neither the Company nor any such subsidiary 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 could not reasonably be expected to have a Material Adverse Effect. 

(pp)    (i) Each “employee benefit plan” (within the meaning of Section 3(3) of the Employee Retirement
Security Act of 1974, as amended (“ERISA”)) for which the Company or any member of its “Controlled Group” (defined as any organization which is a member of a controlled group of corporations within the meaning of
Section 414 of the Internal Revenue Code of 1986, as amended (the “Code”)) would have any liability (each a “Plan”) has been maintained in compliance with its terms and with the requirements of
all applicable statutes, rules and regulations including ERISA and the Code, except in the case of such noncompliance that would not reasonably be expected to have a Material Adverse Effect; (ii) no prohibited

 
transaction, within the meaning of Section 406 of ERISA or Section 4975 of the Code, has occurred with respect to any Plan excluding transactions effected pursuant to a statutory or
administrative exemption that would reasonably be expected to have a Material Adverse Effect; (iii) with respect to each Plan subject to Title IV of ERISA (A) no “reportable event” (within the meaning of Section 4043(c) of
ERISA) has occurred or is reasonably expected to occur, (B) no Plan is or is reasonably expected to be “at risk” status (within the meaning of Section 430 of the Code or Section 303 of ERISA) (C) there has been no
filing pursuant to Section 412(c) of the Code or Section 302(c) of ERISA of an application for a waiver of the minimum funding standard with respect to any Plan or the receipt by the Company or any of its ERISA Affiliates from the PBGC or
the plan administrator of any notice relating to the intention to terminate any Plan or Plans or to appoint a trustee to administer any Plan, (D) no conditions contained in Section 303(k)(1)(A) of ERISA for imposition of a lien shall have
been met with respect to any Plan and (E) neither the Company or any member of its Controlled Group has incurred, or reasonably expects to incur, any liability under Title IV of ERISA (other than contributions to the Plan or premiums to the
Pension Benefit Guaranty Corporation in the ordinary course and without default) in respect of a Plan (including a “multiemployer plan”, within the meaning of Section 4001(c)(3) of ERISA) (“Multiemployer
Plan”), in any such case, that would reasonably be expected to have a Material Adverse Effect; (iv) no Multiemployer Plan is, or is expected to be, “insolvent” (within the meaning of Section 4245 of ERISA), in
“reorganization” (within the meaning of Section 4241 of ERISA), or in “endangered” or “critical” status (within the meaning of Section 432 of the Code or Section 304 of ERISA) that would reasonably be
expected to have a Material Adverse Effect; and (v) each Plan that is intended to be qualified under Section 401(a) of the Code is so qualified and nothing has occurred, whether by action or by failure to act, which would cause the loss of
such qualification that would reasonably be expected to have a Material Adverse Effect. 
 (qq)    The statistical and
market-related data included or incorporated by reference in the Pricing Disclosure Package and the Offering Memorandum are based on or derived from sources that the Company believes to be reliable in all material respects. 

(rr)     Except as disclosed in the Pricing Disclosure Package and the Offering Memorandum, there are no contracts,
agreements or understandings between the Company and any person that would give rise to a valid claim against the Company or any Initial Purchaser for a brokerage commission, finder’s fee or other like payment in connection with the
transactions contemplated by this Agreement. 
 (ss)    Neither the Company nor any of its subsidiaries is in violation
of or has received notice of any violation with respect to any federal or state law relating to discrimination in the hiring, promotion or pay of employees, nor any applicable federal or state wage and hour laws, nor any state law precluding the
denial of credit due to the neighborhood in which a property is situated, the violation of any of which could reasonably be expected to have a Material Adverse Effect. 

(tt)    The statements set forth or incorporated by reference in each of the Pricing Disclosure Package and the Offering
Memorandum under the caption “Description of Notes,” insofar as they purport to constitute a summary of the terms of the Notes and under the captions “Certain U.S. Federal Income Tax Considerations,” and “Plan of
Distribution”, insofar as they purport to summarize the provisions of the laws and documents referred to therein, are accurate summaries in all material respects. 

 Any certificate signed by any officer of the Company and delivered to the Representatives or
counsel for the Initial Purchasers in connection with the offering of the Notes shall be deemed a representation and warranty by the Company, as to matters covered thereby, to each Initial Purchaser. 

3.    Purchase of the Notes by the Initial Purchasers, Agreements to Sell, Purchase and Resell. 

(a)    The Company hereby agrees, on the basis of the representations, warranties, covenants and agreements of the Initial
Purchasers contained herein and subject to all the terms and conditions set forth herein, to issue and sell to the Initial Purchasers and, upon the basis of the representations, warranties and agreements of the Company herein contained and subject
to all the terms and conditions set forth herein, each Initial Purchaser agrees, severally and not jointly, to purchase from the Company, at a purchase price of 98% of the principal amount thereof, plus accrued interest from the Closing Date to the
date of payment, if any, the principal amount of Firm Notes set forth opposite the name of such Initial Purchaser in Schedule I hereto. The Company shall not be obligated to deliver any of the securities to be delivered hereunder except upon
payment for all of the securities to be purchased as provided herein. 
 (b)    In addition, the Company hereby agrees,
on the basis of the representations and warranties, covenants and agreements of the Initial Purchasers contained herein and subject to all the terms and conditions set forth herein, to issue and sell to the Initial Purchasers the Additional Notes,
and the Initial Purchasers shall have the right to purchase, severally and not jointly, up to $22,500,000 aggregate principal amount of Additional Notes solely to cover over-allotments at the purchase price referred to in the preceding paragraph,
plus accrued interest from the Closing Date to the date of payment, if any. The Representatives may exercise this right on behalf of the Initial Purchasers in whole or from time to time in part by giving written notice to the Company;
provided that in no event shall the delivery date of the Additional Notes be later than the last day of the 13-day period beginning on, and including, the initial issuance of the Notes. Any exercise
notice shall specify the principal amount of Additional Notes to be purchased by the Initial Purchasers and the date on which such Additional Notes are to be purchased. Unless otherwise agreed to by the Company, each purchase date must be at least
one business day after the written notice is given and may not be earlier than the closing date for the Firm Notes nor later than ten business days after the date of such notice. On each day, if any, that Additional Notes are to be purchased (an
“Option Closing Date”), each Initial Purchaser agrees, severally and not jointly, to purchase the principal amount of Additional Notes (subject to such adjustments to eliminate fractional Notes as you may determine) that
bears the same proportion to the total principal amount of Additional Notes to be purchased on such Option Closing Date as the principal amount of Firm Notes set forth in Schedule I opposite the name of such Initial Purchaser bears to the total
principal amount of Firm Notes. 
 (c)    Each of the Initial Purchasers, severally and not jointly hereby represents
and warrants to the Company that it will offer the Notes for sale upon the terms and conditions set forth in this Agreement and in the Pricing Disclosure Package. Each of the Initial Purchasers, 

 
severally and not jointly, hereby represents and warrants to, and agrees with, the Company, on the basis of the representations, warranties and agreements of the Company, that such Initial
Purchaser: (i) is a QIB with such knowledge and experience in financial and business matters as are necessary in order to evaluate the merits and risks of an investment in the Notes; (ii) is purchasing the Notes pursuant to a private sale
exempt from registration under the Securities Act; and (iii) in connection with the Exempt Resales, will solicit offers to buy the Notes only from, and will offer to sell the Notes only to, the Eligible Purchasers in accordance with this
Agreement and on the terms contemplated by the Pricing Disclosure Package) in connection with the offering of the Notes. 

(d)    The Initial Purchasers have not nor, prior to the later to occur of (A) the Closing Date and
(B) completion of the distribution of the Notes, will not, use, authorize use of, refer to or distribute any material in connection with the offering and sale of the Notes other than (i) the Preliminary Offering Memorandum, the Pricing
Disclosure Package, the Offering Memorandum, (ii) any written communication that contains either (x) no “issuer information” (as defined in Rule 433(h)(2) under the Securities Act) or (y) “issuer information” that was
included (including through incorporation by reference) in the Preliminary Offering Memorandum or any Issuer Written Communication listed on Schedule III hereto, (iii) the Issuer Written Communications listed on Schedule III hereto,
(iv) any written communication prepared by such Initial Purchaser and approved by the Company in writing, or (v) any written communication relating to or that contains the terms of the Notes and/or other information that was included
(including through incorporation by reference) in the Preliminary Offering Memorandum, the Pricing Disclosure Package or the Offering Memorandum. 

(e)    Each of the Initial Purchasers hereby acknowledges that upon original issuance thereof, and until such time as the
same is no longer required under the applicable requirements of the Securities Act, the Notes (and all securities issued in exchange therefore or in substitution thereof) shall bear legends substantially in the forms as set forth in the
“Transfer Restrictions” section of the Pricing Disclosure Package and Offering Memorandum (along with such other legends as the Company and its counsel deem necessary). 

Each of the Initial Purchasers understands that the Company and, for purposes of the opinions to be delivered to the Initial Purchasers
pursuant to Sections 7(c) and 7(d) hereof, counsel to the Company and counsel to the Initial Purchasers, will rely upon the accuracy and truth of the foregoing representations, warranties and agreements, and the Initial Purchasers hereby consents to
such reliance. 
 4.    Delivery of the Notes and Payment Therefor. Delivery to the Initial Purchasers of and
payment for the Notes shall be made at the office of Davis Polk & Wardwell LLP, at 10:00 A.M., New York City time, on the Closing Date. The place of closing for the Notes and the Closing Date may be varied by agreement between the Initial
Purchasers and the Company. 
 Payment for any Additional Notes shall be made to the Company against delivery of such Additional Notes for
the respective accounts of the several Initial Purchasers at 10:00 a.m., New York City time, on the Option Closing Date. 

 The Notes will be delivered to the Initial Purchasers, or the Trustee as custodian for The
Depository Trust Company (“DTC”), against payment by or on behalf of the Initial Purchasers of the purchase price therefor by wire transfer in immediately available funds, by causing DTC to credit the Notes to the account of
the Initial Purchasers at DTC. The Notes will be evidenced by one or more global securities in definitive form (the “Global Notes”) and will be registered in the name of Cede & Co. as nominee of DTC. The Notes to be
delivered to the Initial Purchasers shall be made available to the Initial Purchasers in New York City for inspection and packaging not later than 10:00 A.M., New York City time, on the business day next preceding the Closing Date or the Option
Closing Date, as the case may be. 
 5.    Agreements of the Company. The Company agrees with each of the Initial
Purchasers as follows: 
 (a)    The Company will furnish to the Initial Purchasers, without charge, within one business
day of the date of the Offering Memorandum, such number of copies of the Offering Memorandum as may then be amended or supplemented as they may reasonably request. 

(b)    The Company will prepare the Offering Memorandum in a form approved by the Initial Purchasers and will not make any
amendment or supplement to the Pricing Disclosure Package or to the Offering Memorandum of which the Initial Purchasers shall not previously have been advised or to which they shall reasonably object after being so advised. 

(c)    The Company consents to the use of the Pricing Disclosure Package and the Offering Memorandum in accordance with
the securities or Blue Sky laws of the jurisdictions in which the Notes are offered by the Initial Purchasers and by all dealers to whom Notes may be sold, in connection with the offering and sale of the Notes. 

(d)    If, at any time prior to completion of the distribution of the Notes by the Initial Purchasers to Eligible
Purchasers, any event occurs or information becomes known that, in the judgment of the Company or in the opinion of counsel for the Initial Purchasers, should be set forth in the Pricing Disclosure Package or the Offering Memorandum so that the
Pricing Disclosure Package or the Offering Memorandum, as then amended or supplemented, does not include any untrue statement of 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, or if it is necessary to supplement or amend the Pricing Disclosure Package or the Offering Memorandum in order to comply with any law, the Company will forthwith prepare an appropriate
supplement or amendment thereto, and will expeditiously furnish to the Initial Purchasers and dealers a reasonable number of copies thereof. 

(e)     The Company will not make any “written communication” (as defined in the Securities Act) that
constitutes an offer to sell or solicitation of an offer to buy the Notes (an “Issuer Written Communication”) without the prior consent of the Representatives, and will not use, authorize, approve or refer to any such Issuer
Written Communication to which the Representatives reasonably object. If at any time following issuance of an Issuer Written Communication, any event occurred or occurs as a result of which such Issuer Written Communication conflicts with the
information in the Preliminary Offering Memorandum, the 

 
Pricing Disclosure Package or the Offering Memorandum or, when taken together with the information in the Preliminary Offering Memorandum, the Pricing Disclosure Package or the Offering
Memorandum, includes an untrue statement of a material fact or omits to state any material fact necessary in order to make the statements therein, in the light of the circumstances then prevailing, not misleading, as promptly as practicable after
becoming aware thereof, the Company will give notice thereof to the Initial Purchasers through the Representatives and, if requested by the Representatives, will prepare and furnish without charge to each Initial Purchaser an Issuer Written
Communication or other document which will correct such conflict, statement or omission. 
 (f)    Promptly from time to
time to take such action as the Initial Purchasers may reasonably request to qualify the Notes and the Underlying Common Stock for offering and sale under the securities or Blue Sky laws of such jurisdictions as the Initial Purchasers 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 Notes and the Underlying Common Stock; provided that in
connection therewith the Company shall not be required to (i) qualify as a foreign corporation in any jurisdiction in which it would not otherwise be required to so qualify, (ii) file a general consent to service of process in any such
jurisdiction, or (iii) subject itself to taxation in any jurisdiction in which it would not otherwise be subject. 

(g)    For a period commencing on the date hereof and ending on the
60th day after the date of the Offering Memorandum (the “Restricted Period”), the Company agrees not to, directly or indirectly, (i) offer for sale, sell, or otherwise
dispose of (or enter into any transaction or device that is designed to, or would be expected to, result in the disposition by any person at any time in the future of) any shares of Common Stock or securities convertible into or exchangeable for
shares of Common Stock, or sell or grant options, rights or warrants with respect to any shares of Common Stock or securities convertible into or exchangeable for shares of Common Stock, (ii) enter into any swap or other derivatives transaction
that transfers to another, in whole or in part, any of the economic benefits or risks of ownership of such shares of Common Stock, whether any such transaction described in clause (i) or (ii) above is to be settled by delivery of Common Stock
or other securities, in cash or otherwise, (iii) file or cause to be filed a registration statement, including any amendments, with respect to the registration of Common Stock or securities convertible, exercisable or exchangeable into Common
Stock, or (iv) publicly disclose the intention to do any of the foregoing, in each case without the prior written consent of Barclays, on behalf of the Initial Purchasers, provided that the foregoing restrictions shall not apply to:
(i) shares of Common Stock issued pursuant to employee benefit plans, qualified stock option plans, other employee compensation plans or non-employee director compensation programs (collectively,
“Compensation Plans”) existing on the date hereof and disclosed in the Pricing Disclosure Package or pursuant to currently outstanding options, warrants or rights not issued under one of those plans; (ii) the grant of
options and other equity awards pursuant to Compensation Plans existing on the date hereof and disclosed in the Pricing Disclosure Package; (iii) the filing of any registration statement on Form S-8 to
register shares of Common Stock reserved for issuance under Compensation Plans; (iv) the Notes; (v) shares of Common Stock issued by the Company upon conversion of the Notes; (vi) the entry into the Base Warrant Confirmations and any
Additional Warrant Confirmations; (vii) any Common Stock issued upon exercise and settlement or termination of the warrant transactions evidenced 

 
by the Base Warrant Confirmations and any Additional Warrant Confirmations; and (viii) the issuance of or agreement to issue shares of Common Stock in connection with the Company’s or
any of its subsidiaries’ acquisition of one or more businesses, products or technologies (whether by means of merger, stock purchase or asset purchase) or pursuant to an employee benefit plan assumed by the Company or any of its subsidiaries in
connection with such acquisition; provided, that the Company shall not issue or agree to issue any shares of Common Stock in connection with such an acquisition during the 30 days after the date of the Offering Memorandum; provided further, that the
aggregate number of shares of Common Stock that the Company may issue or agree to issue in connection with such an acquisition during the period from the 31st day to the 60th day after the date of the Offering Memorandum shall not exceed 1,000,000
shares; provided further, that the Company shall cause each recipient of such Common Stock to execute and deliver to the Representatives, on or prior to issuance of such securities a lock-up agreement in
substantially the form of attached hereto as Exhibit B hereto covering the remainder of the Restricted Period. 
 The Company also agrees to
cause each officer, director and stockholder of the Company set forth on Schedule V hereto to furnish to the Representatives, prior to the date of this Agreement, a letter or letters, substantially in the form of Exhibit B hereto (the “Lock-Up Agreements”). 
 (h)     Between the date hereof and the Closing
Date (both dates included), the Company will not do any act or thing which, had the Firm Notes then been in issue, would result in an adjustment to the Conversion Rate (as such term is defined in the Indenture) of the Firm Notes. 

(i)    While the Notes remain outstanding and are “restricted securities” within the meaning of Rule 144(a)(3)
under the Securities Act, the Company will, during any period in which the Company is not subject to and in compliance with Section 13 or 15(d) of the Exchange Act, furnish at its expense to the Initial Purchasers, and, upon request, to the
holders of the Notes and prospective purchasers of the Notes the information required by Rule 144A(d)(4) (if any). 

(j)    The Company will apply the net proceeds from the sale of the Notes to be sold by it hereunder substantially in
accordance with the description set forth in the Pricing Disclosure Package and the Offering Memorandum under the caption “Use of Proceeds.” 

(k)    The Company and its affiliates will not take, directly or indirectly, any action designed to or that has
constituted or that reasonably could be expected to cause or result in the stabilization or manipulation of the price of any security of the Company in connection with the offering of the Notes. 

(l)    The Company will use its reasonable best efforts to permit the Notes to be eligible for clearance and settlement
through DTC. 
 (m)    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 Notes that have been acquired by any of them, except for Notes purchased by the Company or any of its affiliates and resold in a transaction registered under the Securities Act. 

 (n)    The Company agrees not to sell, offer for sale or solicit offers to
buy or otherwise negotiate in respect of any security (as defined in the Securities Act) that would be integrated with the sale of the Notes in a manner that would require the registration under the Securities Act of the sale to the Initial
Purchasers or the Eligible Purchasers of the Notes. . 
 (o)    In connection with any offer or sale of the Notes, the
Company will not engage, and will cause its affiliates and any person acting on its behalf (other than, in any case, the Initial Purchasers and any of their respective affiliates, as to whom the Company make no covenant) not to engage in any form of
general solicitation or general advertising (within the meaning of Regulation D, or any public offering within the meaning of Section 4(a)(2) of the Securities Act in connection with any offer or sale of the Notes. Before making, preparing,
using, authorizing or distributing any General Solicitation, the Company will furnish to the Representatives a copy of such communication for review and will not make, prepare, use, authorize, approve or distribute such communications to which the
Representatives reasonably object. 
 (p)    The Company agrees to comply with all agreements set forth in the
representation letters of the Company to DTC relating to the approval of the Notes by DTC for “book entry” transfer. 

(q)    The Company will do and perform all things required or necessary to be done and performed under this Agreement by
it prior to the Closing Date, and to satisfy all conditions precedent to the Initial Purchasers’ obligations hereunder to purchase the Notes. 

(r)    The Company agrees to reserve and keep available at all times, free of preemptive rights, a number of shares of
Common Stock equal to the Maximum Number of Underlying Common Stock. 
 (s)    Between the date hereof and the Closing
Date (both dates included), the Company will not do any act or thing which, had the Firm Notes then been in issue, would result in an adjustment to the Conversion Rate (as such term is defined in the Indenture) of the Firm Notes. 

(t)    The Company agrees to use its reasonable best efforts to list, subject to notice of issuance, the Maximum Number of
Underlying Common Stock on the NASDAQ Global Select Market. 
 6.    Expenses. Whether or not the transactions
contemplated by this Agreement are consummated or this Agreement is terminated, the Company agrees, to pay all expenses, costs, fees and taxes incident to and in connection with: (a) the preparation, printing, filing and distribution of the
Preliminary Offering Memorandum, the Pricing Disclosure Package and the Offering Memorandum (including, without limitation, financial statements and exhibits and one or more versions of the Preliminary Offering Memorandum and the Offering Memorandum
for distribution in Canada, including the form of a Canadian “wrapper” (including related fees and expenses of Canadian counsel to the Initial Purchasers)) and all amendments and supplements thereto (including the fees, disbursements and
expenses of the Company’s accountants and counsel, but not, however, legal fees and expenses of the Initial Purchasers’ counsel incurred in 

 
connection therewith); (b) the preparation, printing (including, without limitation, word processing and duplication costs) and delivery of this Agreement, the Indenture, all Blue Sky memoranda
and all other agreements, memoranda, correspondence and other documents printed and delivered in connection therewith and with the Exempt Resales (but not, however, legal fees and expenses of the Initial Purchasers’ counsel incurred in
connection with any of the foregoing other than fees of such counsel plus reasonable disbursements incurred in connection with the preparation, printing and delivery of such Blue Sky memoranda); (c) the issuance and delivery by the Company of the
Notes and any taxes payable in connection therewith; (d) the qualification of the Notes for offer and sale under the securities or Blue Sky laws of the several states, and any foreign jurisdictions as the Initial Purchasers may designate
(including, without limitation, the reasonable fees and disbursements of the Initial Purchasers’ counsel relating to such registration or qualification); (e) the furnishing of such copies of the Preliminary Offering Memorandum, the Pricing
Disclosure Package and the Offering Memorandum, and all amendments and supplements thereto, as may be reasonably requested for use in connection with the Exempt Resales; (f) the preparation of certificates for the Notes (including, without
limitation, printing and engraving thereof); (g) the approval of the Notes by DTC for “book-entry” transfer (including fees and expenses of counsel for the Initial Purchasers); (h) the rating of the Notes; (i) the obligations of the
Trustee, any agent of the Trustee and the counsel for the Trustee in connection with the Indenture and the Notes; (j) the performance by the Company of their other obligations under this Agreement; (k) all expenses incurred by the Company
(for avoidance of doubt, excluding expenses incurred by the Initial Purchasers) in connection with any “road show” presentation to potential investors; and (l) expenses associated with any electronic road show. 

7.    Conditions to Initial Purchasers’ Obligations. The respective obligations of the Initial Purchasers
hereunder are subject to the accuracy, when made and on and as of the Closing Date or the Option Closing Date, as the case may be, of the representations and warranties of the Company contained herein, to the performance by the Company of its
obligations hereunder, and to each of the following additional terms and conditions: 
 (a)    The Initial Purchasers
shall not have discovered and disclosed to the Company on or prior to the Closing Date or the Option Closing Date, as the case may be, that the Pricing Disclosure Package, any Issuer Written Communication or the Offering Memorandum, or any amendment
or supplement thereto, contains an untrue statement of a fact which, in the opinion of Davis Polk & Wardwell LLP, counsel to the Initial Purchasers, is material or omits to state a fact which, in the opinion of such counsel, is material and
is necessary in order to make the statements therein, in the light of the circumstances then prevailing, not misleading. 

(b)    All corporate proceedings and other legal matters incident to the authorization, form and validity of this
Agreement, the Notes, the Indenture, the Pricing Disclosure Package and the Offering Memorandum, and all other legal matters relating to this Agreement and the transactions contemplated hereby shall be reasonably satisfactory in all material
respects to counsel for the Initial Purchasers, and the Company shall have furnished to such counsel all documents and information that they may reasonably request to enable them to pass upon such matters. 

 (c)    Wilson Sonsini Goodrich & Rosati, Professional Corporation
shall have furnished to the Initial Purchasers its written opinion and negative assurance letter, as counsel to the Company, addressed to the Initial Purchasers and dated the Closing Date or the Option Closing Date, as the case may be, in form and
substance reasonably satisfactory to the Initial Purchasers, substantially in the form of Exhibit B hereto. 

(d)    The Initial Purchasers shall have received from Davis Polk & Wardwell LLP, counsel for the Initial
Purchasers, such opinion or opinions and negative assurance letter, dated the Closing Date or the Option Closing Date, as the case may be, with respect to the issuance and sale of the Notes, the Pricing Disclosure Package, the Offering Memorandum
and other related matters as the Initial Purchasers may reasonably require, and the Company shall have furnished to such counsel such documents and information as such counsel reasonably requests for the purpose of enabling them to pass upon such
matters. 
 (e)    At the time of execution of this Agreement, the Initial Purchasers shall have received from PWC a
letter, in form and substance reasonable satisfactory to the Initial Purchasers, addressed to the Initial Purchasers and dated the date hereof (i) confirming that they are independent public accountants with respect to the Company and its
subsidiaries within the meaning of the Securities Act and the applicable rules and regulations adopted by the Commission and the Public Company Accounting Oversight Board and are in compliance with the applicable requirements relating to the
qualification of accountants under Rule 2-01 of Regulation S-X of the Commission and (ii) covering such other matters as are ordinarily covered by accountants’
“comfort letters” to underwriters in connection with registered public offerings. 
 (f)    With respect to
the letter of PWC referred to in the preceding paragraph and delivered to the Initial Purchasers concurrently with the execution of this Agreement (the “initial letter”), the Company shall have furnished to the Initial
Purchasers a “bring-down letter” of such accountants, addressed to the Initial Purchasers and dated the Closing Date or the Option Closing Date, as the case may be (i) confirming that they are independent public accountants with
respect to the Company and its subsidiaries within the meaning of the Securities Act and the applicable rules and regulations adopted by the Commission and the Public Company Accounting Oversight Board and are in compliance with the applicable
requirements relating to the qualification of accountants under Rule 2-01 of Regulation S-X of the Commission, and (ii) confirming in all material respects the
conclusions and findings set forth in the initial letter. 
 (g)     Except as described in the Pricing Disclosure
Package and the Offering Memorandum (exclusive of any amendment or supplement thereto), (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 and the Offering Memorandum, 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, or (ii) since such date, there shall not have been any change in the capital stock 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 condition (financial or otherwise), results of operations, stockholders’ equity, properties, management, business or prospects of the Company and its subsidiaries, taken as a whole, the effect of which, in any such
case described in clause (i) or (ii), is, individually or in the aggregate, in the 

 
judgment of Barclays, so material and adverse as to make it impracticable or inadvisable to proceed with the offering, sale or the delivery of the Notes being delivered on the Closing Date or the
Option Closing Date, as the case may be, on the terms and in the manner contemplated in the Pricing Disclosure Package and the Offering Memorandum. 

(h)    The Company shall have furnished or caused to be furnished to the Initial Purchasers dated as of the Closing Date
or the Option Closing Date, as the case may be, a certificate of the Chief Executive Officer and Chief Financial Officer of the Company, or other officers satisfactory to the Initial Purchasers, as to such matters as the Representatives may
reasonably request, including, without limitation, a statement: 
 (i)    That the representations,
warranties and agreements of the Company in Section 2 are true and correct on and as of the Closing Date or the Option Closing Date, as the case may be, and the Company has complied with all its agreements contained herein and satisfied all the
conditions on its part to be performed or satisfied hereunder at or prior to the Closing Date or the Option Closing Date, as the case may be; 

(ii)    That they have examined the Pricing Disclosure Package and the Offering Memorandum, and, in their
opinion, (A) the Pricing Disclosure Package, as of the Applicable Time, and the Offering Memorandum, as of its date and as of the Closing Date or the Option Closing Date, as the case may be, did not and do not contain any untrue statement of a
material fact and did not and do not omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading and (B) since the date of the Pricing Disclosure Package
and the Offering Memorandum, no event has occurred which should have been set forth in a supplement or amendment to the Pricing Disclosure Package and the Offering Memorandum; and 

(iii)    To the effect of Section 7(g) (provided that no representation with respect to the judgment
of Barclays need to be made) and Section 7(i). 
 (i)    Subsequent to the earlier of the Applicable Time and the
execution and delivery of this Agreement there shall not have occurred any of the following: (i) downgrading shall have occurred in the rating accorded the Company’s debt securities by any “nationally recognized statistical rating
organization,” as that term is used by the Commission in Section 15E under the Exchange Act, or (ii) 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. 
 (j)    The Notes shall be eligible for clearance and settlement
through DTC. 
 (k)    The Company and the Trustee shall have executed and delivered the Indenture, and the Initial
Purchasers shall have received an original copy thereof, duly executed by the Company and the Trustee. 

(l)    Subsequent to the earlier of the Applicable Time and the execution and delivery of this Agreement there shall not
have occurred any of the following: (i)(A) trading in 

 
securities generally on any securities exchange that has registered with the Commission under Section 6 of the Exchange Act (including the New York Stock Exchange, The NASDAQ Global Select
Market, The NASDAQ Global Market or The NASDAQ Capital Market) or (B) trading in any securities of the Company on any exchange or in the over-the-counter market,
shall have been suspended or materially limited or the settlement of such trading generally shall have been materially disrupted or minimum prices shall have been established on any such exchange or such market by the Commission, by such exchange or
by any other regulatory body or governmental authority having jurisdiction, (ii) a general moratorium on commercial banking activities shall have been declared by federal or state authorities, (iii) the United States shall have become
engaged in hostilities, there shall have been an escalation in hostilities involving the United States or there shall have been a declaration of a national emergency or war by the United States, or (iv) there shall have occurred such a material
adverse change in general economic, political or financial conditions, including, without limitation, as a result of terrorist activities after the date hereof (or the effect of international conditions on the financial markets in the United States
shall be such), or any other calamity or crisis either within or outside the United States, in each case, as to make it, in the judgment of Barclays, impracticable or inadvisable to proceed with the offering, sale or delivery of the Notes being
delivered on the Closing Date on the terms and in the manner contemplated in the Offering Memorandum or that, in the judgment of Barclays, could materially and adversely affect the financial markets or the markets for the Notes and other debt or
equity securities. 
 (m)    The Maximum Number of Underlying Common Stock shall have been duly listed, subject to
notice of issuance, on the NASDAQ Global Select Market. 
 (n)    The Lock-Up
Agreements between the Representatives and the officers, directors and stockholders of the Company set forth on Schedule IV, delivered to the Representatives on or before the date of this Agreement, shall be in full force and effect on the Closing
Date and the Option Closing Date, as the case may be. 
 (o)    On or prior to the Closing Date or the Option Closing
Date, as the case may be, the Company shall have furnished to the Initial Purchasers such further certificates and documents as the Initial Purchasers may reasonably request. 

The several obligations of the Initial Purchasers to purchase Additional Notes hereunder are subject to the delivery to the Representative on
the applicable Option Closing Date of such documents as the Representative may reasonably request with respect to the good standing of the Company, the due authorization and issuance of the Additional Notes to be sold on such Option Closing Date and
other matters related to the issuance of such Additional Notes. 
 All opinions, letters, evidence and certificates mentioned above or
elsewhere in this Agreement shall be deemed to be in compliance with the provisions hereof only if they are in form and substance reasonably satisfactory to counsel for the Initial Purchasers. 

8.    Indemnification and Contribution. 

(a)    The Company hereby agrees to indemnify and hold harmless each Initial Purchaser, its affiliates, directors, officers
and employees and each person, if any, who controls 

 
such Initial Purchaser within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act, from and against any loss, claim, damage or liability, joint or several,
or any action in respect thereof (including, but not limited to, any loss, claim, damage, liability or action relating to purchases and sales of Notes), to which that Initial Purchaser, affiliate, director, officer, employee or controlling person
may become subject, under the Securities Act or otherwise, insofar as such loss, claim, damage, liability or action arises out of, or is based upon, (i) any untrue statement or alleged untrue statement of a material fact contained in any
(A) Issuer Written Communication, the Preliminary Offering Memorandum, the Pricing Disclosure Package or the Offering Memorandum or in any amendment or supplement thereto, or (B) the road show presentations made to investors by the Company
(whether in person or electronically) set forth on Schedule III (the “Road Show”) or (ii) the omission or alleged omission to state in any Issuer Written Communication, the Preliminary Offering Memorandum, the Pricing
Disclosure Package or the Offering Memorandum, or in any amendment or supplement thereto, 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 shall
reimburse each Initial Purchaser and each such affiliate, director, officer, employee or controlling person promptly upon demand for any legal or other expenses reasonably incurred by that Initial Purchaser, affiliate, director, officer, employee or
controlling person in connection with investigating or defending or preparing to defend against any such loss, claim, damage, liability or action as such expenses are incurred; provided, however, that the Company shall not be liable in
any such case to the extent that any such loss, claim, damage, liability or action arises out of, or is based upon, any untrue statement or alleged untrue statement or omission or alleged omission made in any Preliminary Offering Memorandum, the
Pricing Disclosure Package or Offering Memorandum, or in any such amendment or supplement thereto, , in reliance upon and in conformity with written information concerning such Initial Purchaser furnished to the Company through the Representatives
by or on behalf of the Initial Purchasers specifically for inclusion therein, which information consists solely of the information specified in Section 8(e). The foregoing indemnity agreement is in addition to any liability that the Company may
otherwise have to any Initial Purchaser or to any affiliate, director, officer, employee or controlling person of that Initial Purchaser. 

(b)    Each Initial Purchaser, severally and not jointly, hereby agrees to indemnify and hold harmless the Company, its
officers and employees, each of its directors, and each person, if any, who controls the Company within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act, from and against any loss, claim, damage or
liability, joint or several, or any action in respect thereof, to which the Company or any such director, officer, employee or controlling person may become subject, under the Securities Act or otherwise, insofar as such loss, claim, damage,
liability or action arises out of, or is based upon, (i) any untrue statement or alleged untrue statement of a material fact contained in any Issuer Written Communication, Preliminary Offering Memorandum, the Pricing Disclosure Package or the
Offering Memorandum or in any amendment or supplement thereto, or (ii) the omission or alleged omission to state in any Issuer Written Communication, Preliminary Offering Memorandum, the Pricing Disclosure Package or the Offering Memorandum, or
in any amendment or supplement thereto, or any material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading, but in each case only to the extent that the untrue
statement or alleged untrue statement or omission or alleged omission was made in reliance upon and in conformity with 

 
written information concerning such Initial Purchaser furnished to the Company through the Representatives by or on behalf of that Initial Purchaser specifically for inclusion therein, which
information is limited to the information set forth in Section 8(e). The foregoing indemnity agreement is in addition to any liability that any Initial Purchaser may otherwise have to the Company or any such director, officer, employee or
controlling person. 
 (c)    Promptly after receipt by an indemnified party under this Section 8 of notice of any
claim or the commencement of any action, the indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party under this Section 8, notify the indemnifying party in writing of the claim or the commencement of
that action; provided, however, that the failure to notify the indemnifying party shall not relieve it from any liability that it may have under paragraphs (a) or (b) above except to the extent it has been materially prejudiced
(through the forfeiture of substantive rights or defenses) by such failure and; provided, further, that the failure to notify the indemnifying party shall not relieve the indemnifying party from any liability that it may have to an
indemnified party otherwise than under paragraphs (a) or (b) above. If any such claim or action shall be brought against an indemnified party, and it shall notify the indemnifying party thereof, the indemnifying party shall be entitled to
participate therein and, to the extent that it wishes, jointly with any other similarly notified indemnifying party, to assume the defense thereof with counsel reasonably satisfactory to the indemnified party. After notice from the indemnifying
party to the indemnified party of its election to assume the defense of such claim or action, the indemnifying party shall not be liable to the indemnified party under this Section 8 for any legal or other expenses subsequently incurred by the
indemnified party in connection with the defense thereof other than reasonable costs of investigation; provided, however, that the indemnified party shall have the right to employ counsel to represent jointly the indemnified party and
those other indemnified parties and their respective directors, officers, employees and controlling persons who may be subject to liability arising out of any claim in respect of which indemnity may be sought under this Section 8, if
(i) the indemnified party and the indemnifying party shall have so mutually agreed; (ii) the indemnifying party has failed within a reasonable time to retain counsel reasonably satisfactory to the indemnified party; (iii) the
indemnified party and its directors, officers, employees and controlling persons shall have reasonably concluded that there may be legal defenses available to them that are different from or in addition to those available to the indemnified party;
or (iv) the named parties in any such proceeding (including any impleaded parties) include both the indemnified parties or their respective directors, officers, employees or controlling persons, on the one hand, and the indemnifying party, on
the other hand, and representation of both sets of parties by the same counsel would be inappropriate due to actual or potential differing interests between them, and in any such event the fees and expenses of such separate counsel shall be paid by
the indemnifying party. No indemnifying party shall (x) without the prior written consent of the indemnified parties (which consent shall not be unreasonably withheld), settle or compromise or consent to the entry of any judgment with respect
to any pending or threatened claim, action, suit or proceeding in respect of which indemnification or contribution may be sought hereunder (whether or not the indemnified parties are actual or potential parties to such claim or action) unless such
settlement, compromise or consent includes an unconditional release of each indemnified party from all liability arising out of such claim, action, suit or proceeding and 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, or (y) be liable for any settlement of any such action effected without its written consent (which consent shall not be unreasonably withheld), but if settled

 
with the consent of the indemnifying party or if there be a final judgment of the plaintiff in any such action, the indemnifying party agrees to indemnify and hold harmless any indemnified party
from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and
expenses of counsel as contemplated by Section 8(a) or (b) hereof, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into
more than 30 days after receipt by such indemnifying party of the aforesaid request and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request or disputed in good faith the indemnified
party’s entitlement to such reimbursement prior to the date of such settlement. 
 (d)    If the indemnification
provided for in this Section 8 shall for any reason be unavailable to or insufficient to hold harmless an indemnified party under Section 8(a) or 8(b) in respect of any loss, claim, damage or liability, or any action in respect thereof,
referred to therein, then each indemnifying party shall, in lieu of indemnifying such indemnified party, contribute to the amount paid or payable by such indemnified party as a result of such loss, claim, damage or liability, or action in respect
thereof, (i) in such proportion as shall be appropriate to reflect the relative benefits received by the Company, on the one hand, and the Initial Purchasers, on the other, from the offering of the Notes, or (ii) if the allocation provided
by clause (i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Company, on the one hand, and the
Initial Purchasers, on the other, with respect to the statements or omissions that resulted in such loss, claim, damage or liability, or action in respect thereof, as well as any other relevant equitable considerations. The relative benefits
received by the Company, on the one hand, and the Initial Purchasers, on the other hand, with respect to such offering shall be deemed to be in the same proportion as the total net proceeds from the offering of the Notes purchased under this
Agreement (before deducting expenses) received by the Company, on the one hand, and the total discounts and commissions received by the Initial Purchasers with respect to the Notes purchased under this Agreement, on the other hand, bear to the total
gross proceeds from the offering of the Notes under this Agreement as set forth on the cover page of the Offering Memorandum. The relative fault shall be determined by reference to whether the untrue or alleged untrue statement of a material fact or
omission or alleged omission to state a material fact relates to information supplied by the Company, or the Initial Purchasers, the intent of the parties and their relative knowledge, access to information and opportunity to correct or prevent such
statement or omission. The Company and the Initial Purchasers agree that it would not be just and equitable if contributions pursuant to this Section 8(d) were to be determined by pro rata allocation (even if the Initial Purchasers were treated
as one entity for such purpose) or by any other method of allocation that does not take into account the equitable considerations referred to herein. The amount paid or payable by an indemnified party as a result of the loss, claim, damage or
liability, or action in respect thereof, referred to above in this Section 8(d) shall be deemed to include, for purposes of this Section 8(d), 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 Section 8(d), no Initial Purchaser shall be required to contribute any amount in excess of the amount by which the total underwriting discounts and
commissions received by such Initial Purchaser with respect to the offering of the Notes exceeds the amount of any damages that such Initial 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 Initial Purchasers’ obligations to contribute as provided in this Section 8(d) are
several in proportion to their respective purchase obligations and not joint. 
 (e)    The Initial Purchasers severally
confirms and the Company acknowledges and agrees that the statements with respect to the offering of the Notes by the Initial Purchasers set forth in the tenth and eleventh paragraph of the section entitled “Plan of Distribution” in the
Pricing Disclosure Package and the Offering Memorandum are correct and constitute the only information concerning such Initial Purchasers furnished in writing to the Company by or on behalf of the Initial Purchasers specifically for inclusion in the
Preliminary Offering Memorandum, the Pricing Disclosure Package and the Offering Memorandum or in any amendment or supplement thereto or in. 

9.    Defaulting Initial Purchasers. 

(a)    If, on the Closing Date or the Option Closing Date, as the case may be, any Initial Purchaser defaults in its
obligations to purchase the Notes that it has agreed to purchase under this Agreement, the remaining non-defaulting Initial Purchasers may in their discretion arrange for the purchase of such Notes by the non-defaulting Initial Purchasers or other persons satisfactory to the Company on the terms contained in this Agreement. If, within 36 hours after any such default by any Initial Purchaser, the non-defaulting Initial Purchasers do not arrange for the purchase of such Notes, then the Company shall be entitled to a further period of 36 hours within which to procure other persons satisfactory to the non-defaulting Initial Purchasers to purchase such Notes on such terms. In the event that within the respective prescribed periods, the non-defaulting Initial Purchasers
notify the Company that they have so arranged for the purchase of such Notes, or the Company notifies the non-defaulting Initial Purchasers that it has so arranged for the purchase of such Notes, either the non-defaulting Initial Purchasers or the Company may postpone the Closing Date or the Option Closing Date, as the case may be, for up to seven full business days in order to effect any changes that in the opinion of
counsel for the Company or counsel for the Initial Purchasers may be necessary in the Pricing Disclosure Package, the Offering Memorandum or in any other document or arrangement, and the Company agrees to promptly prepare any amendment or supplement
to the Pricing Disclosure Package or the Offering Memorandum that effects any such changes. As used in this Agreement, the term “Initial Purchaser” includes, for all purposes of this Agreement unless the context requires otherwise, any
party not listed in Schedule I hereto that, pursuant to this Section 9, purchases Notes that a defaulting Initial Purchaser agreed but failed to purchase. 

(b)    If, after giving effect to any arrangements for the purchase of the Notes of a defaulting Initial Purchaser or
Initial Purchasers by the non-defaulting Initial Purchasers and the Company as provided in paragraph (a) above, the aggregate principal amount of such Notes that remains unpurchased on the Closing Date or
the Option Closing Date, as the case may be, does not exceed one-eleventh of the aggregate principal amount of all the Notes to be purchased on such date, then the Company shall have the right to require each non-defaulting Initial Purchaser to purchase the principal amount of Notes that such Initial Purchaser agreed to 

 
purchase hereunder on such date plus such Initial Purchaser’s pro rata share (based on the principal amount of Notes that such Initial Purchaser agreed to purchase hereunder on
such date) of the Notes of such defaulting Initial Purchaser or Initial Purchasers for which such arrangements have not been made; provided that the non-defaulting Initial Purchasers shall not be
obligated to purchase more than 110% of the aggregate principal amount of Notes that it agreed to purchase on the Closing Date or the Option Closing Date, as the case may be, pursuant to the terms of Section 3. 

(c)    If, after giving effect to any arrangements for the purchase of the Notes of a defaulting Initial Purchaser or
Initial Purchasers by the non-defaulting Initial Purchasers and the Company as provided in paragraph (a) above, the aggregate principal amount of such Notes that remains unpurchased on the Closing Date or
the Option Closing Date, as the case may be, exceeds one-eleventh of the aggregate principal amount of all the Notes to be purchased on such date, or if the Company shall not exercise the right described in
paragraph (b) above, then this Agreement or, with respect to the Option Closing Date, the obligation of the Initial Purchasers to purchase Additional Notes on the Option Closing Date, as the case may be, shall terminate without liability on the
part of the non-defaulting Initial Purchasers. Any termination of this Agreement pursuant to this Section 9 shall be without liability on the part of the Company, except that the Company will continue to
be liable for the payment of expenses as set forth in Sections 6 and 11 and except that the provisions of Section 8 shall not terminate and shall remain in effect. 

(d)    Nothing contained herein shall relieve a defaulting Initial Purchaser of any liability it may have to the Company
or any non-defaulting Initial Purchaser for damages caused by its default. 

10.    Termination. The obligations of the Initial Purchasers hereunder may be terminated by the Initial Purchasers
by notice given to and received by the Company prior to delivery of and payment for the Notes if, prior to that time, any of the events described in Sections 7(g), (i) or (l) shall have occurred or if the Initial Purchasers shall decline to
purchase the Notes for any reason permitted under this Agreement. 
 11.    Reimbursement of Initial Purchasers’
Expenses. If (a) the Company for any reason fails to tender the Notes for delivery to the Initial Purchasers, or (b) the Initial Purchasers decline to purchase the Notes for any reason permitted under this Agreement, the Company shall
reimburse the Initial Purchasers for all reasonable out-of-pocket expenses (including fees and disbursements of counsel for the Initial Purchasers) incurred by the
Initial Purchasers in connection with this Agreement and the proposed purchase of the Notes, and upon demand the Company shall pay the full amount thereof to the Initial Purchasers. 

12.    Notices, etc. All statements, requests, notices and agreements hereunder shall be in writing, and: 

(a)    if to any Initial Purchaser, shall be delivered or sent by hand delivery, mail, overnight courier or facsimile
transmission to c/o Barclays Capital Inc., 745 Seventh Avenue, New York, New York 10019, Attention: Syndicate Registration (Fax: (646) 834-8133), and with a copy, in the case of any notice pursuant to
Section 8(c), to the Director of Litigation, 

 
Office of the General Counsel, Barclays Capital Inc., 745 Seventh Ave., New York, New York 10019; c/o Credit Suisse Securities (USA) LLC, Eleven Madison Avenue, New York, New York 10010; c/o
Deutsche Bank Securities Inc.; 60 Wall St., New York, New York 10005; in each case with a copy to Davis Polk & Wardwell LLP Attention: Alan Denenberg (Fax:
650-752-2115); 
 (b)    if to the
Company, shall be delivered or sent by mail, telex, overnight courier or facsimile transmission to 1050 Enterprise Way, Suite 700, Sunnyvale, California 94089, (fax: (408) 462-8001); Attention: General
Counsel, with a copy to Wilson Sonsini Goodrich & Rosati, Professional Corporation, 650 Page Mill Road, Palo Alto, California 94304 (fax: (650) 493-6811), Attention: Michael Occhiolini; 

Any such statements, requests, notices or agreements shall take effect at the time of receipt thereof. The Company shall be entitled to act and rely upon any
request, consent, notice or agreement given or made on behalf of the Initial Purchasers by the Representatives. 

13.    Persons Entitled to Benefit of Agreement. This Agreement shall inure to the benefit of and be binding upon
the Initial Purchasers, the Company, and their respective successors. This Agreement and the terms and provisions hereof are for the sole benefit of only those persons, except that the representations, warranties, indemnities and agreements of the
Company contained in this Agreement shall also be deemed to be for the benefit of affiliates, directors, officers and employees of the Initial Purchasers and each person or persons, if any, controlling any Initial Purchaser within the meaning of
Section 15 of the Securities Act. Nothing in this Agreement is intended or shall be construed to give any person, other than the persons referred to in this Section 13, any legal or equitable right, remedy or claim under or in respect of
this Agreement or any provision contained herein. 
 14.    Survival. The respective indemnities, rights of
contribution, representations, warranties and agreements of the Company and the Initial Purchasers contained in this Agreement or made by or on behalf of them, respectively, pursuant to this Agreement, shall survive the delivery of and payment for
the Notes and shall remain in full force and effect, regardless of any termination of this Agreement or any investigation made by or on behalf of any of them or any person controlling any of them 

15.    Definition of the Terms “Business Day”, “Affiliate”, and “Subsidiary”. For
purposes of this Agreement, (a) “business day” means any day on which the New York Stock Exchange, Inc. is open for trading, and (b) “affiliate” and “subsidiary” have the meanings set forth in Rule 405 under the
Securities Act. 
 16.    Governing Law & Venue. This Agreement and any claim,
controversy or dispute arising under or related to this Agreement shall be governed by and construed in accordance with the laws of the State of New York. The Company and each of the Initial Purchasers agree that any suit, action or proceeding
arising out of or based upon this Agreement or the transactions contemplated hereby may be instituted in any State or U.S. federal court in The City of New York and County of New York, and waives any objection that such party may now or hereafter
have to the laying of venue of any such proceeding, and irrevocably submits to the exclusive jurisdiction of such courts in any suit, action or proceeding. 

 17.    Waiver of Jury Trial. The Company and each of the Initial
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. 

18.    No Fiduciary Duty. The Company acknowledges and agrees that in connection with this offering, or any other
services the Initial Purchasers may be deemed to be providing hereunder, notwithstanding any preexisting relationship, advisory or otherwise, between the parties or any oral representations or assurances previously or subsequently made by the
Initial Purchasers: (a) no fiduciary or agency relationship exists between the Company and any other person, on the one hand, and the Initial Purchasers, on the other hand; (b) the Initial Purchasers are not acting as advisors, expert or
otherwise, to the Company, including, without limitation, with respect to the determination of the purchase price of the Notes, and such relationship between the Company, on the one hand, and the Initial Purchasers, on the other hand, is entirely
and solely commercial, based on arms-length negotiations; (c) any duties and obligations that the Initial Purchasers may have to the Company shall be limited to those duties and obligations specifically stated herein; (d) the Initial
Purchasers and their respective affiliates may have interests that differ from those of the Company; and (e) the Company has consulted its own legal and financial advisors to the extent it deemed appropriate. The Company hereby waives any
claims that the Company may have against the Initial Purchasers with respect to any breach of fiduciary duty in connection with the Notes. 

19.    Counterparts. This Agreement may be executed in one or more counterparts and, if executed in more than one
counterpart, the executed counterparts shall each be deemed to be an original but all such counterparts shall together constitute one and the same instrument. 

20.    Headings. The headings herein are inserted for convenience of reference only and are not intended to be part
of, or to affect the meaning or interpretation of, this Agreement. 

 If the foregoing correctly sets forth the agreement among the Company and the Initial Purchasers,
please indicate your acceptance in the space provided for that purpose below. 
  

					
	Very truly yours,
	
	RAMBUS INC.
		
	By	 	 /s/ Rahul Mathur

		 	Name:	 	Rahul Mathur
		 	Title:	 	Senior Vice President, Finance and
Chief Financial Officer

  

					
	Accepted:
	
	BARCLAYS CAPITAL INC.
	CREDIT SUISSE SECURITIES (USA) LLC
	DEUTSCHE BANK SECURITIES INC.
		
		 	        BARCLAYS CAPITAL INC.
		
	By	 	 /s/ Syed Rajib Imteaz

		 	Name:	 	Syed Rajib Imteaz
		 	Title:	 	Managing Director
		
		 	        Credit Suisse Securities (USA) LLC
		
	By	 	 /s/ Ernest H. Ruehl, Jr.

		 	Name:	 	Ernest H. Ruehl, Jr.
		 	Title:	 	Managing Director
		
		 	        Deutsche Bank Securities Inc.
		
	By	 	 /s/ Faiz Khan

		 	Name:	 	Faiz Khan
		 	Title:	 	Managing Director
		
	By	 	 /s/ Francis Windels

		 	Name:	 	Francis Windels
		 	Title:	 	Managing Director

 Execution Version 

SCHEDULE I 
  

					
	 Initial Purchasers
	  	Principal
Amount of
Firm Notes
to be
Purchased	 
	 Barclays Capital Inc.
	  	$	72,750,000	 
	 Credit Suisse Securities (USA) LLC.
	  	 	36,750,000	 
	 Deutsche Bank Securities Inc.
	  	 	36,750,000	 
	 The Benchmark Company, LLC
	  	 	1,250,000	 
	 Loop Capital Markets LLC
	  	 	1,250,000	 
	 Roth Capital Partners, LLC
	  	 	1,250,000	 
	 Total
	  	$	150,000,000	 
		  	  
	  
	 

 SCHEDULE II 

PRICING TERM SHEET 
 [ATTACHED]

 SCHEDULE III 

A.    Pricing Term Sheet set forth on Schedule II. 

B.    Road Show materials. 

 Schedule IV 

LIST OF PERSONS SUBJECT TO LOCK-UP 

Ronald Black, Ph.D. 
 J. Thomas Bentley 

E. Thomas Fisher 
 Penelope Herscher 

Emiko Higashi 
 Jae Kim 

Charles Kissner 
 Rahul Mathur 

David Shrigley 
 Laura Stark 

Eric Stang 

 Exhibit A 

Company Counsel Opinion 
  

	 	1.	The Company is a corporation duly incorporated and validly existing under the laws of the State of Delaware and is in good standing under such laws. The Company has requisite corporate power to own or lease its
properties and carry on its business, as described in the Final Offering Memorandum. The Company is qualified to do business as a foreign corporation in the State of California. 

 

	 	2.	The execution and delivery of the Operative Documents have been duly authorized by all necessary corporate action on the part of the Company, and the Purchase Agreement has been duly executed and delivered by the
Company. 

  

	 	3.	The Company has the corporate power to execute and deliver the Operative Documents and to perform its obligations under the terms of the Operative Documents. 

 

	 	4.	The Securities have been duly authorized and executed by the Company and when authenticated by the Trustee in accordance with the terms of the Indenture (which authentication we have not determined by inspection of the
Securities) and issued and delivered to the Initial Purchasers against payment of the purchase price therefor specified in the Purchase Agreement, the Securities will constitute valid and binding obligations of the Company, enforceable against the
Company in accordance with their terms. 

  

	 	5.	The Indenture has been duly authorized, executed and delivered by the Company and, assuming the due authorization, execution and delivery thereof by the Trustee, the Indenture constitutes a valid and binding instrument,
enforceable against the Company in accordance with its terms. 

  

	 	6.	The shares of Common Stock initially issuable upon conversion of the Securities (assuming the full physical settlement of the Securities and including shares of Common Stock issuable with respect to any Make-Whole
Fundamental Change (as defined in the Indenture)) (the “Shares”) have been duly authorized by the Company and the Shares, if any, when issued upon due conversion of the Securities in accordance with the terms of the Securities and the
Indenture would, if issued today, be validly issued, fully paid and nonassessable and free of preemptive rights arising under the Certificate of Incorporation, the Bylaws or the DGCL. 

 

	 	7.	The statements set forth in the General Disclosure Package and the Final Offering Memorandum under the caption “Description of Notes” insofar as such statements purport to constitute a summary of the terms of
the Indenture and the Securities, fairly summarize such terms in all material respects. 

	 	8.	The statements set forth in the General Disclosure Package and the Final Offering Memorandum under the caption “Certain United States Federal Income Tax Considerations,” insofar as they purport to summarize
the United States federal tax laws referred to therein or legal conclusions with respect thereto, are fair summaries in all material respects. 

  

	 	9.	The statements set forth in the General Disclosure Package and Final Offering Memorandum under the caption “Description of Capital Stock,” insofar as such statements constitute summaries of legal matters or
documents, fairly summarize the matters and documents referred to therein in all material respects. 

  

	 	10.	The Company is not, and after giving effect to the offering and sale of the Securities and the application of the proceeds thereof as described in the General Disclosure Package, will not be required to be registered
as, an “investment company,” as such term is defined in the Investment Company Act. 

  

	 	11.	None of the issuance and sale of the Securities being delivered on the date hereof, the execution, delivery and performance by the Company of its obligations under the Purchase Agreement, the Indenture and the
Securities or the consummation of the transactions contemplated thereby will (i) violate the Certificate of Incorporation or the Bylaws, (ii) conflict with, result in a breach or violation by the Company of any of the terms or provisions
of, or constitute a default by the Company under any Reviewed Agreement, (iii) result in a violation of any U.S. federal, California or New York state law, rule or regulation or the DGCL, or (iv) result in a violation of any Reviewed
Judgment. 

  

	 	12.	No consent, approval, authorization, order, registration or qualification of or with any U.S. federal, California, New York or Delaware (solely with respect to the DGCL) governmental agency or body or court is required
for the execution and delivery of the Operative Documents, the offer and sale by the Company of the Securities or the consummation by the Company of the transactions contemplated by the Purchase Agreement or the Indenture, except (i) such as
have been obtained under the Securities Act, (ii) such as may be required under state securities or Blue Sky laws, and (iii) as contemplated by the Operative Documents. 

 

	 	13.	Assuming the accuracy of the Initial Purchasers’ representations contained in the Purchase Agreement and the accuracy of the Company’s representations contained in the Purchase Agreement, no registration of
the Securities or the Shares is required under the Securities Act for the sale of the Securities by the Company to the Initial Purchasers pursuant to the Purchase Agreement and the Indenture or for the initial resale of the Securities by the Initial
Purchasers in the manner contemplated by the Purchase Agreement, the General Disclosure Package and the Final Offering Memorandum, and it is not necessary to qualify the Indenture under the Trust Indenture Act of 1939 (it being understood that, in
each case, no opinion is expressed as to any subsequent resale of the Securities or the consequences thereof). 

 We have participated in conferences with certain officers and other representatives of the
Company, representatives of the Initial Purchasers, counsel for the Initial Purchasers and representatives of the independent certified public accountants of the Company at which the contents of the Disclosure Package, the Final Offering Memorandum
and related matters were reviewed and discussed and, although we are not passing upon and do not assume any responsibility for the accuracy, completeness or fairness of the Disclosure Package or the Final Offering Memorandum (except to the extent of
our statements in paragraphs 9 and 10 of our opinion letter separately delivered to you today pursuant to the Purchase Agreement), and we have made no independent check or verification thereof, no facts have come to our attention in the course of
such review and discussion that have caused us to believe that: 
 (i)    the Disclosure Package, as of
11:30 p.m. New York time on November 14, 2017, contained an untrue statement of a material fact or omitted 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, or 
 (ii)    the Final Offering Memorandum, as of its date or as of the date hereof,
contained or contains an untrue statement of a material fact or omitted or omits 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. 

 Exhibit B 

Form of Lock-Up Agreement 

LOCK-UP LETTER AGREEMENT 

BARCLAYS CAPITAL INC. 
 CREDIT SUISSE SECURITIES (USA) LLC 

DEUTSCHE BANK SECURITIES INC., 
 As Representatives of the
several 
   Initial Purchasers named in Schedule I 

to the purchase agreement,
 c/o Barclays Capital Inc. 

745 Seventh Avenue 
 New York, New York 10019 

c/o Credit Suisse Securities (USA) LLC 
 Eleven Madison Avenue

 New York, New York 10010 
 c/o Deutsche Bank Securities Inc.

 60 Wall St. 
 New York, New York 10005 

Ladies and Gentlemen: 
 The undersigned
understands that you and certain other firms (the “Initial Purchasers”) propose to enter into a Purchase Agreement (the “Purchase Agreement”) providing for the purchase by the Initial Purchasers of
1.375% Convertible Senior Notes due 2023    (the “Notes”) of Rambus Inc., a Delaware corporation (the “Company”). The Notes will be convertible into cash and, if designated by the
Company, shares of the Company’s common stock, par value $0.001 per share (the “Common Stock”), and the Initial Purchasers propose to reoffer the Notes in Exempt Resales (as such term is defined in the Purchaser
Agreement) (the “Offering”). 
 In consideration of the execution of the Purchase Agreement by the Initial
Purchasers, and for other good and valuable consideration, the undersigned hereby irrevocably agrees that, without the prior written consent of Barclays Capital Inc., on behalf of the Initial Purchasers, the undersigned will not, directly or
indirectly, (1) offer for sale, sell, pledge, or 

  
 Exhibit B-1 

 
otherwise dispose of (or enter into any transaction or device that is designed to, or could be expected to, result in the disposition by any person at any time in the future of) any shares of
Common Stock (including, without limitation, shares of Common Stock that may be deemed to be beneficially owned by the undersigned in accordance with the rules and regulations of the Securities and Exchange Commission and shares of Common Stock that
may be issued upon exercise of any options or warrants) or securities convertible into or exercisable or exchangeable for Common Stock, (2) enter into any swap or other derivatives transaction that transfers to another, in whole or in part, any
of the economic benefits or risks of ownership of shares of Common Stock, whether any such transaction described in clause (1) or (2) above is to be settled by delivery of Common Stock or other securities, in cash or otherwise,
(3) make any demand for or exercise any right or cause to be filed a registration statement, including any amendments thereto, with respect to the registration of any shares of Common Stock or securities convertible into or exercisable
or exchangeable for Common Stock or any other securities of the Company, or (4) publicly disclose the intention to do any of the foregoing for a period commencing on the date hereof and ending on the 60th day after the date of the Offering
Memorandum relating to the Offering (such 60-day period, the “Lock-Up Period”). 

Any Common Stock received upon exercise of options or vesting of restricted stock units granted to the undersigned also will be subject to
this Lock-Up Letter Agreement; provided that, notwithstanding the foregoing, during the last 30 days of the Lock-Up Period, offers, sales or other dispositions by the
undersigned (i) together with all other individuals subject to a lock-up agreement substantially similar hereto, of up to an aggregate of 50,000 shares of Common Stock issued upon the exercise of options
during the Lock-Up Period that will expire prior to the Lock-Up Period, (ii) together with all other individuals subject to a
lock-up agreement substantially similar hereto, of up to an aggregate of 125,000 shares of Common Stock issued upon the vesting of restricted stock units during the
Lock-Up Period, and (iii) to the Company of Common Stock upon a vesting event to pay required withholding taxes, shall not be subject to this Lock-Up Letter
Agreement. Offers, sales or other dispositions of Common Stock pursuant to a written plan (a “Plan”) for trading securities in effect on the date hereof and disclosed to the Representatives will not be subject to this Lock-Up Letter Agreement if such Plan (i) was established pursuant to and in accordance with Rule 10b5-1(c) under the Securities Exchange Act of 1934, as amended and
(ii) is not amended or modified during the Lock-Up Period. A transfer of Common Stock (i) as a bona fide gift or (ii) to a family member or trust, partnership or limited liability company for
the direct or indirect benefit of such family member may be made, provided the donee or transferee, as applicable, agrees to be bound in writing by the terms of this Lock-Up Letter Agreement prior to
such transfer and no filing by any party (donor, donee, transferor or transferee) under the Exchange Act shall be required or shall be voluntarily made in connection with such transfer (other than a filing on a Form 5 made after the expiration of
the Lock-Up Period). A transfer of Common Stock (i) by will or intestate succession to the immediate family of one of the Company’s executive officers or directors or (ii) by operation of law,
such as pursuant to a qualified domestic order or in connection with a divorce settlement, shall not be subject to this Lock-Up Letter Agreement; provided that in the case of each of (i) and (ii)
the transferee agrees to be bound in writing by the terms of this Lock-Up Letter Agreement prior to such transfer and any filing by any party (transferor or transferee) under the Exchange Act that is required to be made shall explain by footnote the
nature of the transfer. Transfers of shares of Common Stock or any security convertible into Common Stock to a wholly owned subsidiary of the undersigned or to the direct or indirect members or partners

  
 Exhibit B-2 

 
of the undersigned, provided the transferee agrees to be bound in writing by the terms of this Lock-Up Letter Agreement prior to such transfer and
no filing by any party (transferor or transferee) under the Exchange Act shall be required or shall be voluntarily made in connection with such transfer (other than a filing on a Form 5 made after the expiration of the
Lock-Up Period). 
 In furtherance of the foregoing, the Company and its transfer agent are hereby
authorized to decline to make any transfer of securities if such transfer would constitute a violation or breach of this Lock-Up Letter Agreement. 

It is understood that, if the Company notifies the Initial Purchasers that it does not intend to proceed with the Offering, if the Purchase
Agreement does not become effective, or if the Purchase Agreement (other than the provisions thereof which survive termination) shall terminate or be terminated prior to payment for and delivery of the Notes, the undersigned will be released from
its obligations under this Lock-Up Letter Agreement. 
 The undersigned understands that the Company
and the Initial Purchasers will proceed with the Offering in reliance on this Lock-Up Letter Agreement. 

Whether or not the Offering actually occurs depends on a number of factors, including market conditions. Any Offering will only be made
pursuant to an Purchase Agreement, the terms of which are subject to negotiation between the Company and the Initial Purchasers. 

[Signature page follows] 

  
 Exhibit B-3 

 The undersigned hereby represents and warrants that the undersigned has full power and authority
to enter into this Lock-Up Letter Agreement and that, upon request, the undersigned will execute any additional documents necessary in connection with the enforcement hereof. Any obligations of the undersigned
shall be binding upon the heirs, personal representatives, successors and assigns of the undersigned. 
 Very truly yours, 

 

									
	IF AN INDIVIDUAL:	 		 	IF AN ENTITY:
				
	By:	 	  
	 		 	  

		 	    (duly authorized signature)	 		 	(please print complete name of entity)
					
	Name:	 	  
	 		 	By:	 	  

		 	      (please print full name)	 		 		 	  (duly authorized signature)
					
		 		 		 	Name:	 	  

		 		 		 		 	    (please print full name)
					
		 		 		 	Title:	 	  

		 		 		 		 	    (please print full title)

									
					
	Address:	 		 		 	Address:	 	
	  
	 		 	  

			
	  
	 		 	  

									
					
	E-mail:	 	  
	 		 	E-mail:	 	  

					
	Dated:	 	                    	 		 		 	

  
 Exhibit B-4

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