Document:

Indenture dated August 24, 2004

 Exhibit 4.1 
  

AQUANTIVE, INC., 
  
 as Issuer 
  
 2.25% CONVERTIBLE SENIOR SUBORDINATED NOTES DUE 2024 
  

  
 INDENTURE 
  
 Dated as of August 24, 2004 
  

  
 BNY WESTERN TRUST COMPANY, 
 as Trustee 

 INDENTURE, dated as of August 24, 2004, among AQUANTIVE, INC., a corporation duly organized and existing
under the laws of the State of Washington, having its principal office at 506 Second Avenue, 9th Floor, Seattle, Washington 98104 (the “Company”), and BNY WESTERN TRUST COMPANY, a banking corporation duly organized and existing
under the laws of the State of California, as Trustee (the “Trustee”). 
  
 RECITALS OF THE COMPANY 
  
 The
Company has duly authorized the creation of an issue of the Company’s 2.25% Convertible Senior Subordinated Notes due 2024 (the “Notes”), in substantially the tenor and amount hereinafter set forth, and to provide therefor the
Company has duly authorized the execution and delivery of this Indenture. 
  
 All things necessary to make (i) the Notes, when the Notes are executed by the Company and authenticated and delivered hereunder and duly issued by the Company, the valid obligations of the Company, and (ii) this
Indenture a valid agreement of the Company, in accordance with its terms, have been done. 
  
 NOW, THEREFORE, THIS INDENTURE WITNESSETH: 
  
 For and in consideration of the premises and the purchase of the Notes by the Holders thereof, it is mutually covenanted and agreed, for the equal and proportionate benefit of all Holders of the Notes, as follows.

  
 ARTICLE I. 
  
 DEFINITIONS AND INCORPORATION BY REFERENCE 
  
 SECTION 1.1 DEFINITIONS. 
  
 “Act of Holders” when used with respect to any Holder of a Note, has the meaning specified in Section 14.4(a).

  
 “Affiliate” of any specified Person means any other
Person directly or indirectly controlling or controlled by or under direct or indirect common control with such specified Person. For the purposes of this definition, “control”, when used with respect to any specified Person, means the
power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings
correlative to the foregoing. 
  
 “Agent” means any
Registrar, Paying Agent, Conversion Agent, Calculation Agent or co-registrar. 
  
 “Bankruptcy Law” means Title 11 of the U.S. Code or any similar federal, state or foreign law for the relief of debtors. 
  
 “Board of Directors” means the board of directors of the Company, or any committee of such board empowered to act
for it with respect to this Indenture. 
  
 “Board
Resolution” means a copy of a resolution certified by the Secretary or an Assistant Secretary of the Company, duly adopted by the Board of Directors and in full force and effect on the date of such certification, and delivered to the Trustee.

  
 “Business Day,” when used with respect to any Place
of Payment or Place of Conversion, means each Monday, Tuesday, Wednesday, Thursday and Friday which is not a day on which banking institutions in that Place of Payment or Place of Conversion, as the case may be, are authorized or obligated by law to
close. 
  
 “Calculation Agent” has the meaning specified
in Section 11.1(f). 
  

 1 

 “Capital Shares” means, with respect to any Person, any and all shares, interests,
participations or other equivalents (however designated, whether voting or non-voting) in equity of such Person, whether now outstanding or issued after the date of this Indenture, including, without limitation, all common stock and preferred
shares. 
  
 “Change of Control” means an event or series
of events in which: 
  
 (1) any “person,” including any
syndicate or group deemed to be a “person” under Section 13(d)(3) of the Exchange Act, acquires beneficial ownership, directly or indirectly, of Capital Shares of the Company entitling that person to exercise more than 50% of the total
voting power of all of the Capital Shares of the Company entitled to vote generally in elections of directors, other than any acquisition by the Company, any Subsidiary of the Company or any employee benefit plan of the Company; or 
  
 (2) the Company (a) consolidates with or merges into any other corporation or
business entity or conveys or transfers or leases all or substantially all of the Company’s assets to any other person, corporation or business entity or any other corporation or business entity merges into the Company (except solely to the
extent necessary to reflect a change in the jurisdiction of incorporation of the Company), and, in any such case, (b) the holders of the Company’s Capital Shares immediately before such transaction own, directly or indirectly, less than 50% of
the combined voting power of the outstanding voting securities of the transferee corporation or business entity resulting from such transaction; 
  
 provided, however, that a Change of Control shall not be deemed to occur if at least 90% of the consideration in the Change of Control transaction consists
of Capital Shares traded primarily on the New York Stock Exchange or the American Stock Exchange or quoted primarily on the Nasdaq National Market, and as a result the Notes become convertible solely into such Capital Shares. 
  
 Beneficial ownership shall be determined in accordance with Rules 13d-3 and
13d-5 promulgated by the SEC under the Exchange Act (except that a person will be deemed to have beneficial ownership of all shares that such person has the right to acquire, either immediately or with the passage of time). The term
“person” includes any syndicate or group that would be deemed to be a “person” under Section 13(d)(3) of the Exchange Act. 
  
 “Change of Control Conversion Date” has the meaning specified in Section 11.1(c). 
  
 “Change of Control Conversion Period” has the meaning specified in Section 11.1(c). 
  
 “Change of Control Notice” has the meaning specified in Section
11.2. 
  
 “Closing Price” of any security on any date of
determination means: 
  
 (1) the closing sale price (or, if no
closing sale price is reported, the last reported sale price) of such security on the New York Stock Exchange on such date; 
  
 (2) if such security is not listed for trading on the New York Stock Exchange on any such date, the closing sale price as reported for the principal
securities exchange on which such security is so listed; 
  
 (3)
if such security is not so listed on a national securities exchange, the closing sale price as reported by the Nasdaq National Market; 
  
 (4) if such security is not so reported, the last quoted bid price for such security in the over-the-counter market as reported by the National Quotation
Bureau or similar organization; or 
  
 (5) if such bid price is
not available, the average of the mid-point of the last bid and ask prices of such security on such date from at least three nationally recognized independent investment banking firms retained for this purpose by the Company. 
  

 2 

 “Common Stock” means any shares 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. However, subject to the provisions of Section 12.11, shares
issuable on conversion of Notes shall include only shares of the class designated as Common Stock, $.01 par value per share, of the Company at the date of execution 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 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. 
  
 “Company” means the corporation named as the “Company” in the first paragraph of this instrument until a successor corporation shall
have become such pursuant to the applicable provisions of this Indenture, and thereafter “Company” shall mean such successor corporation. 
  
 “Conversion Agent” has the meaning specified in Section 2.3(a). 
  
 “Conversion Notice” has the meaning specified in Section 12.2. 
  
 “Conversion Price” has the meaning specified in Section 12.1.

  
 “Conversion Rate” has the meaning specified in
Section 12.1. 
  
 “Corporate Trust Office” means the
office of the Trustee at which at any particular time its corporate trust business shall be administered (which at the date of execution of this Indenture is located at BNY Western Trust Company at 700 S. Flower Street, Suite 500, Los Angeles,
California 90017, Attention: Corporate Trust Department and for purposes of Section 9.2 shall be BNY Western Trust Company, 700 S. Flower Street, Suite 500, Los Angeles, California 90017, Attention: Corporate Trust Department), or at any other time
at such other address as the Trustee may designate from time to time by notice to the Company. 
  
 “Current Market Price” has the meaning specified in Section 12.4(g). 
  
 “Default” means an event which is, or after notice or lapse of time or both would be, an Event of Default. 
  
 “Defaulted Interest” has the meaning specified in Section 2.12.

  
 “Defaulted Interest Special Record Date” for the
payment of any Defaulted Interest means a date fixed by the Company pursuant to Section 2.12. 
  
 “Depositary” means The Depository Trust Company, its nominees and their respective successors. 
  
 “Designated Senior Debt” means any Senior Debt that the Company and the holder of such Senior Debt expressly declare is “Designated Senior
Debt”. 
  
 “Dollar,” “U.S. Dollar” or
“U.S. $” means a dollar or other equivalent unit in such coin or currency of the United States as at the time shall be legal tender for the payment of public and private debts. 
  
 “Effective Date” has the meaning specified in Section 11.1(c)(1). 
  
 “Event of Default” has the meaning specified in Section 4.1.

  
 “Exchange Act” means the Securities Exchange Act of
1934, as amended. 
  
 “Expiration Time” has the meaning
specified in Section 12.4(f). 
  

 3 

 “fair market value” has the meaning set forth in Section 12.4(g). 
  
 “Global Note” has the meaning specified in Section 2.1(e).

  
 “Holder” means the Person in whose name a Note is
registered in the Register. 
  
 “Holder Repurchase Date”
has the meaning specified in Section 11.1(a). 
  
 “Holder
Repurchase Price” has the meaning specified in Section 11.1(a). 
  
 “Holder Repurchase Right” has the meaning specified in Section 11.1(a). 
  
 “Indebtedness” means, with respect to any Person, and without duplication: (a) all indebtedness, obligations and other liabilities (contingent or otherwise) of such Person for borrowed money (including
obligations of the Person in respect of overdrafts, foreign exchange contracts, currency exchange agreements, interest rate protection agreements, and any loans or advances from banks, whether or not evidenced by notes or similar instruments) or
evidenced by bonds, debentures, notes or similar instruments (whether or not the recourse of the lender is to the whole of the assets of such Person or to only a portion thereof), other than any account payable or other accrued current liability or
obligation incurred in the ordinary course of business in connection with the obtaining of materials or services; (b) all reimbursement obligations and other liabilities (contingent or otherwise) of such Person with respect to letters of credit,
bank guarantees or bankers’ acceptances; (c) all obligations and liabilities (contingent or otherwise) in respect of leases of such Person required, in conformity with generally accepted accounting principles, to be accounted for as capitalized
lease obligations on the balance sheet of such Person and all obligations and other liabilities (contingent or otherwise) under any lease or related document (including a purchase agreement) in connection with the lease of real property which
provides that such Person is contractually obligated to purchase or cause a third party to purchase the leased property and thereby guarantee a minimum residual value of the leased property to the lessor and the obligations of such Person under such
lease or related document to purchase or to cause a third party to purchase such leased property; (d) all obligations of such Person (contingent or otherwise) with respect to an interest rate or other swap, cap or collar agreement or other similar
instrument or agreement or foreign currency hedge, exchange, purchase or similar instrument or agreement; (e) all direct or indirect guaranties or similar agreements by such Person in respect of, and obligations or liabilities (contingent or
otherwise) of such Person to purchase or otherwise acquire or otherwise assure a creditor against loss in respect of, indebtedness, obligations or liabilities of another Person of the kind described in clauses (a) through (d); (f) any indebtedness
or other obligations described in clauses (a) through (e) secured by any mortgage, pledge, lien or other encumbrance existing on property which is owned or held by such Person, regardless of whether the indebtedness or other obligation secured
thereby shall have been assumed by such Person; and (g) all deferrals, renewals, extensions and refundings of, or amendments, modifications or supplements to, any indebtedness, obligation or liability of the kind described in clauses (a) through
(f). 
  
 “Indenture” means this instrument as originally
executed or as it may from time to time be supplemented or amended by one or more indentures supplemental hereto entered into pursuant to the applicable provisions hereof. 
  
 “Initial Purchaser” means the Initial Purchaser of the Notes pursuant to the Purchase Agreement. 
  
 “Interest Payment Date” means each February 15 and August 15,
beginning February 15, 2005. 
  
 “Liquidated Damages”
has the meaning specified in Section 7(b) of the Registration Rights Agreement. 
  
 “Make Whole Premium” has the meaning specified in Section 11.1(c)(3). 
  
 “Make Whole Premium Table” has the meaning specified in Section 11.1(c)(3). 
  
 “Nasdaq National Market” means the National Association of Securities Dealers Automated Quotation National Market
or any successor national securities exchange or automated over-the-counter trading market in the United States. 
  

 4 

 “Non-Electing Share” has the meaning specified in Section 12.11. 
  
 “Notes” has the meaning ascribed to it in the first paragraph under
the caption “Recitals of the Company.” 
  
 “Notice
of Optional Repurchase” has the meaning specified in Section 11.3(b). 
  
 “Officer” means the Chairman or Vice Chairman of the Board of Directors, the Chief Executive Officer, the President, the Chief Financial Officer, the Treasurer, any Vice President, the Secretary or Assistant
Secretary of the Company. 
  
 “Officers’
Certificate” means a certificate from the Company, as the case may be, signed by its (a) Chairman, Vice Chairman, President, Chief Executive Officer, Chief Financial Officer or Vice President, and (b) Treasurer, Assistant Treasurer, Secretary
or Assistant Secretary, and delivered to the Trustee. 
  
 “Opinion of Counsel” means a written opinion of counsel, who may be counsel to the Company (and may include directors or employees of the Company), and which opinion is acceptable to the Trustee. 
  
 “Optional Redemption” has the meaning specified in Section 10.1(b).

  
 “Optional Redemption Date,” when used with respect
to any Note to be redeemed pursuant to Section 10.1, means the date fixed for an Optional Redemption by or pursuant to this Indenture. 
  
 “Optional Redemption Price” has the meaning specified in Section 10.1(b). 
  
 “Order” means a written request or order signed in the name of the Company by its Chairman of the Board of
Directors, its President, its Chief Executive Officer, its Chief Financial Officer or any Vice President, and delivered to the Trustee. 
  
 “Participants” has the meaning specified in Section 2.15(a). 
  
 “Paying Agent” has the meaning specified in Section 2.3(a). 
  
 “Payment Blockage Period” has the meaning specified in Section
13.2(b). 
  
 “Payment Default” has the meaning specified
in Section 4.1(d)(i). 
  
 “Person” means an individual,
partnership, corporation, limited liability company, unincorporated organization, trust or joint venture, or any entity similar to any of the foregoing organized under the laws of other countries, or a governmental agency or political subdivision
thereof. 
  
 “Physical Notes” has the meaning specified
in Section 2.1(f). 
  
 “Place of Conversion” means any
city in which any Conversion Agent is located. 
  
 “Place of
Payment” means any city in which any Paying Agent is located. 
  
 “Placement Agent” means Thomas Weisel Partners LLC. 
  
 “Predecessor Note” of any particular Note means every previous Note evidencing all or a portion of the same debt as that evidenced by such particular Note; and, for the purposes of this definition, any Note authenticated and
delivered under Section 2.7 in exchange for or in lieu of a mutilated, destroyed, lost or stolen Note shall be deemed to evidence the same debt as the mutilated, destroyed, lost or stolen Note. 
  
 “Purchase Agreement” means the Purchase Agreement, dated August 19,
2004, between the Company and the Placement Agent. 
  

 5 

 “Purchase Date” has the meaning specified in Section 11.3(a). 
  
 “Purchase Option” has the meaning specified in Section 11.3(a).

  
 “Purchase Notice” has the meaning specified in
Section 11.3(a). 
  
 “Purchase Price” has the meaning
specified in Section 11.3(a). 
  
 “Purchased Shares” has
the meaning specified in Section 12.4(f)(ii)(x). 
  
 “QIB” means a “qualified institutional buyer” as defined in Rule 144A. 
  
 “Record Date” means either a Regular Record Date or a Special Record Date, as the case may be, provided that, for purposes of Section 12.4,
Record Date has the meaning specified in Section 12.4(g). 
  
 “Reference Period” has the meaning specified in Section 12.4(d). 
  
 “Register” has the meaning specified in Section 2.5. 
  
 “Registrar” has the meaning specified in Section 2.3. 
  
 “Registration Default” means an “Event of Default” as specified in Section 7(a) of the Registration Rights Agreement. 
  
 “Registration Rights Agreement” means the Registration Rights
Agreement attached as EXHIBIT E hereto, as the same may be amended or modified from time to time in accordance with the terms thereof, whereby the Company has granted registration rights to the Initial Purchaser and the Holders. 
  
 “Regular Record Date” for the interest payable on the Notes
(including Liquidated Damages, if any) means the close of business on the February 1 or August 1 (whether or not a Business Day), as the case may be, preceding an Interest Payment Date. 
  
 “Responsible Officer,” when used with respect to the Trustee, means any vice president, assistant vice president,
secretary, assistant secretary, the treasurer, any assistant treasurer, or any other officer of the Trustee customarily performing functions similar to those performed by any of the above designated officers and, in any case, such person having
responsibilities for administering this trust. 
  
 “Restricted Security” means a Note (or Common Stock into which such Note has been converted) that constitutes a “restricted security” within the meaning of Rule 144(a)(3) under the Securities Act; provided,
however, that the Trustee shall be entitled to request and conclusively rely on any Opinion of Counsel with respect to whether any Note (or Common Stock into which such Note has been converted) constitutes a Restricted Security. 

 
 “Restrictive Securities Legend” has the meaning specified in
Section 2.17(a). 
  
 “Rule 144” means Rule 144 as
promulgated under the Securities Act (including any successor rule thereof), as the same may be amended from time to time. 
  
 “Rule 144A” means Rule 144A as promulgated under the Securities Act (including any successor rule thereof), as the same may be amended from time
to time. 
  
 “SEC” means the Securities and Exchange
Commission or any successor thereto. 
  
 “Securities
Act” means the Securities Act of 1933, as amended. 
  

 6 

 “Senior Debt” means the principal of, premium, if any, interest (including all interest
accruing subsequent to the commencement of any bankruptcy or similar proceeding, whether or not a claim for post-petition interest is allowable as a claim in any such proceeding) and rent payable on or in connection with, and all fees, costs,
expenses and other amount accrued or due on or in connection with, Indebtedness of the Company, whether outstanding on the date of this Indenture or thereafter created, incurred, assumed, guaranteed or in effect guaranteed by the Company (including
all deferrals, renewals, extensions or refundings of, or amendments, modifications or supplements to, the foregoing), unless in the case of any particular Indebtedness the instrument creating or evidencing the same or the assumption or guarantee
thereof expressly provides that such Indebtedness shall not be senior in right of payment to the Notes or expressly provides that such Indebtedness is “pari passu” or “junior” to the Notes. Notwithstanding the foregoing, the term
“Senior Debt” shall not include any Indebtedness of the Company to any Subsidiary, a majority of the voting stock of which is owned, directly or indirectly, by the Company. If any payment made to any holder of any Senior Debt with respect
to such Senior Debt is rescinded or must otherwise be returned by such holder upon the insolvency, bankruptcy or reorganization of the Company or otherwise, the reinstated Indebtedness of the Company arising as a result of such rescission or return
shall constitute Senior Debt effective as of the date of such rescission or return. 
  
 “Senior Non-monetary Default” has the meaning specified in Section 13.2(b). 
  
 “Senior Payment Default” has the meaning specified in Section 13.2(a). 
  
 “Shelf Registration Statement” has the meaning specified in the Registration Rights Agreement. 
  
 “Significant Subsidiary” has the meaning specified in Rule 1-02(w)
promulgated by the SEC. 
  
 “Special Record Date” has
the meaning specified in Section 7.4. 
  
 “Stock Price”
has the meaning specified in Section 11.1(c)(2). 
  
 “Stock
Price Cap” has the meaning specified in Section 11.1(c)(3). 
  
 “Stock Price Threshold” has the meaning specified in Section 11.1(c)(3). 
  
 “Subsidiary” means a corporation more than 50% of the outstanding Voting Shares of which are owned, directly or indirectly, by the Company or by one or more other Subsidiaries, or by the Company and one or
more other Subsidiaries. 
  
 “Successor Company” has the
meaning specified in Section 6.1. 
  
 “TIA” means the
Trust Indenture Act of 1939 (15 U.S. Code Sections 77aaa- 77bbbb), as in effect on the date of execution of this Indenture; provided, however, that if the TIA is amended after such date, “TIA” means, to the extent required by
such amendment, the Trust Indenture Act of 1939, as so amended, or any successor statute. 
  
 “Trading Day” means: 
  
 (1) if the applicable security is listed or admitted for trading on the New York Stock Exchange or another national security exchange, a day on which the New York Stock Exchange or such other national security is open for business;

  
 (2) if the applicable security is quoted on the Nasdaq
National Market, a day on which trades may be made thereon; or 
  
 (3) if the applicable security is not so listed, admitted for trading or quoted, any day other than a Saturday or Sunday or a day on which banking institutions in the State of New York are authorized or obligated by law or executive order
to close. 
  

 7 

 “Transfer Agent” means any Person, which may be the Company, authorized by the Company to
exchange or register the transfer of Notes, initially BNY Western Trust Company. 
  
 “Trigger Event” has the meaning specified in Section 12.4(d). 
  
 “Trustee” means the Person named as the “Trustee” in the first paragraph of this instrument until a successor Trustee shall have
become such pursuant to the applicable provisions of this Indenture, and thereafter “Trustee” shall mean such successor Trustee. 
  
 “Vice President” means any vice president of a corporation, whether or not designated by a number or a word or words added before or after the
title “vice president.” 
  
 “Voting Shares”
means with respect to any Person, Capital Shares of any class or kind ordinarily having the power to vote for the election of directors, managers or other voting members of the governing body of such Person. 
  
 “Withdrawal Notice” has the meaning specified in Section 11.3(c).

  
 SECTION 1.2 INCORPORATION BY REFERENCE OF TRUST INDENTURE ACT. 
  
 Whenever this Indenture refers to a provision of the TIA, the provision is
incorporated by reference in and made a part of this Indenture. 
  
 The following TIA terms used in this Indenture have the following meanings: 
  
 “indenture securities” means the Notes; 
  
 “indenture security holder” means a Holder; 
  
 “indenture to be qualified” means this Indenture; 
  
 “indenture trustee” or “institutional trustee” means the Trustee; and 
  
 “obligor” on the Notes means the Company and any other obligor on the indenture securities. 
  
 All other TIA terms used in this Indenture that are defined by the TIA,
defined by TIA reference to another statute or defined by SEC rules have the meanings assigned to them by such definitions. 
  
 SECTION 1.3 RULES OF CONSTRUCTION. 
  
 For all purposes of this Indenture, except as otherwise expressly provided or unless the context otherwise requires: 
  
 (1) the terms defined in this Article I have the meanings assigned to them
in this Article I and include the plural as well as the singular; 
  
 (2) all accounting terms not otherwise defined herein have the meanings assigned to them in accordance with accounting principles generally accepted in the United States prevailing at the time of any relevant computation hereunder; and

  
 (3) the words “herein,” “hereof” and
“hereunder” and other words of similar import refer to this Indenture as a whole and not to any particular Article, Section or other subdivision. 
  

 8 

 ARTICLE II. 
  
 THE NOTES 
  
 SECTION 2.1 FORM AND DATING. 
  
 (a) The Notes shall be known and designated as the “2.25% Convertible Senior Subordinated Notes due 2024” of the Company. The aggregate principal amount of Notes which may be authenticated and delivered under this Indenture is
limited to $70 million ($80 million if the over-allotment option set forth in Section 2.2 of the Purchase Agreement is exercised in full). 
  
 (b) The Notes shall mature on August 15, 2024. 
  
 (c) Interest shall accrue from August 24, 2004, at a rate of 2.25% per annum until the principal thereof is paid or made available for payment pursuant to
the terms of this Indenture. Interest shall be payable semiannually in arrears on February 15 and August 15 in each year, commencing February 15, 2005. 
  
 Interest on the Notes shall be computed on the basis of a 360-day year comprised of twelve 30-day months, and, in the case of a partial month, the actual
number of days elapsed. 
  
 Except as provided in the next
succeeding paragraph, a Holder of any Note shall not be entitled to receive any interest (including Liquidated Damages, if any) that has accrued on such Note if such Note is converted into Common Stock on any day other than an Interest Payment Date.
By delivering to the Holder of any Note that is converted into Common Stock the number of shares issuable upon conversion, together with a cash payment, if any, in lieu of a fractional share, the Company shall be deemed to have satisfied its
obligation with respect to such Note. Accordingly, accrued but unpaid interest shall be deemed to be paid in full rather than canceled, extinguished or forfeited. 
  
 If a Holder of any Note converts such Note after a Regular Record Date but prior to the corresponding Interest Payment Date,
such Holder shall be entitled to receive on the Interest Payment Date interest accrued and paid on such Note, notwithstanding the conversion of such Note prior to such Interest Payment Date. However, at the time such Holder surrenders such Note for
conversion, such Holder shall pay the Company an amount equal to the interest (including Liquidated Damages, if any) that will be paid on the Notes being converted on the Interest Payment Date. However, if the Company calls any Notes for redemption
or a Holder exercises its Holder Repurchase Right or Purchase Option for a Note on a date that is after a Record Date for an interest payment but prior to the corresponding Interest Payment Date, and prior to such redemption or repurchase date a
Holder of any Note chooses to convert such Note, such Holder shall not be required to pay the Company at the time such Holder surrenders such Note for conversion the amount of interest on such Note such Holder shall be entitled to receive on the
date that has been fixed for redemption if such Holder’s conversion right would terminate because of the redemption or repurchase between the Regular Record Date and the close of business on the second Business Day following the next succeeding
Interest Payment Date. Accrued but unpaid interest will be payable upon any conversion of Notes made concurrently with or after acceleration of the Notes following an Event of Default. 
  
 Principal of, and premium, if any, and interest on Global Notes shall be payable to the Depositary in immediately available
funds. 
  
 Principal of, and premium, if any, and interest on
Physical Notes shall be payable at the office or agency of the Company maintained for such purpose, initially the Corporate Trust Office of the Trustee. Interest on Physical Notes (other than at maturity) will be payable by (i) U.S. Dollar check
drawn on a bank in The City of New York mailed to the address of the Holder, or (ii) upon application to the Registrar not later than the relevant Record Date by a Holder, of an aggregate principal amount in excess of $5,000,000, wire transfer in
immediately available funds. 
  
 (d) The Notes and the
Trustee’s certificate of authentication shall be substantially in the form set forth in Exhibit A, which is incorporated in and forms a part of this Indenture. The Notes may have notations, legends or endorsements required by law, stock
exchange rule or usage. Each Note shall be dated the date of its authentication. 
  

 9 

 (e) The Notes are being offered and sold in reliance on Rule 144A under the Securities Act and shall be
issued initially in the form of one or more Global Notes, substantially in the form set forth in Exhibit A (the “Global Note”), deposited with the Trustee, as custodian for the Depositary, duly executed by the Company and
authenticated by the Trustee as hereinafter provided and bearing the legends set forth in Exhibits B-1, B-2 and B-3. The aggregate principal amount of the Global Note may from time to time be increased or decreased by adjustments made
on the records of the Trustee, as custodian for the Depositary, as hereinafter provided; provided, however, that in no event shall the aggregate principal amount of the Global Note or Notes exceed $70,000,000, or $80,000,000 if the
Placement Agent elects to place additional Notes pursuant to the over-allotment option provided for in Section 2.2 of the Purchase Agreement. 
  
 (f) Notes issued in exchange for interests in a Global Note pursuant to Section 2.15 may be issued in the form of permanent certificated Notes in
registered form in substantially the form set forth in Exhibit A (the “Physical Notes”) and, if applicable, bearing any legends required by Section 2.17. 
  
 SECTION 2.2 EXECUTION AND AUTHENTICATION. 
  
 (a) One Officer shall sign the Notes for the Company by manual or facsimile signature. 
  
 (b) If an Officer whose signature is on a Note no longer holds that office at the time the Note is authenticated, the Note
shall nevertheless be valid. 
  
 (c) A Note shall not be valid
until authenticated by the manual signature of the Trustee. The signature shall be conclusive evidence that the Note has been authenticated under this Indenture. 
  
 (d) Upon an Order signed by one Officer, the Trustee shall authenticate Notes for original issue in the aggregate principal
amount of $70,000,000 and such additional principal amount, if any, as shall be determined pursuant to the next sentence of this Section 2.2(d). Upon receipt by the Trustee of an Officers’ Certificate stating that the Placement Agent has
elected to place a specified principal amount of additional Notes, not to exceed $10,000,000, pursuant to Section 2.2 of the Purchase Agreement, the Trustee shall authenticate and deliver such specified principal amount of such additional Notes to
or upon the Order signed as provided in the immediately preceding sentence. Such Officers’ Certificate must be received by the Trustee not later than the proposed date for delivery of such additional Notes. The aggregate principal amount of
Notes outstanding at any time may not exceed $80,000,000 except as provided in Section 2.7. 
  
 (e) Upon an Order signed by two Officers, the Trustee shall authenticate Notes not bearing the Restrictive Securities Legend to be issued to the transferee when sold pursuant to an effective registration statement
under the Securities Act as set forth in Section 2.16(c). 
  
 (f)
The Trustee shall act as the initial authenticating agent. Thereafter, the Trustee may appoint an authenticating agent acceptable to the Company to authenticate Notes. An authenticating agent may authenticate Notes whenever the Trustee may do so.
Each reference in this Indenture to authentication by the Trustee includes authentication by such Agent. An authenticating agent has the same rights as an Agent to deal with the Company and its Affiliates. 
  
 (g) The Notes shall be issuable only in registered form without interest
coupons and only in denominations of $1,000 principal amount and any integral multiple thereof. 
  
 SECTION 2.3 REGISTRAR, PAYING AGENT AND CONVERSION AGENT. 
  
 (a) The Company shall maintain an office or agency where Notes may be presented for registration of transfer or for exchange (“Registrar”), an office or agency where Notes may be presented for payment
(“Paying Agent”) and an office or agency where Notes may be presented for conversion (“Conversion Agent”). The Registrar shall keep a register of the Notes and of their transfer and exchange. The Company may appoint
or change one or more co-registrars, one or more additional paying agents and one or more additional conversion agents without notice and may act in any such capacity on its own behalf. The term “Registrar” includes any co-registrar; the
term “Paying Agent” includes any additional paying agent; and the term “Conversion Agent” includes any additional conversion agent. 
  

 10 

 (b) 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 or Conversion Agent, the Trustee shall act as such. The Company or any Affiliate of the Company may act as Paying Agent. 
  
 (c) The Company initially appoints the Trustee as Paying Agent, Registrar and Conversion Agent. 
  
 SECTION 2.4 PAYING AGENT TO HOLD MONEY IN TRUST. 
  
 Subject to Section 13.2, each Paying Agent shall hold in trust for the
benefit of the Holders or the Trustee all moneys held by the Paying Agent for the payment of the Notes, and shall notify the Trustee of any default by the Company in making any such payment. While any such default continues, the Trustee may require
a Paying Agent to pay all money held by it to the Trustee. The Company at any time may require a Paying Agent to pay all money held by it to the Trustee. Upon payment over to the Trustee, the Paying Agent shall have no further liability for the
money. If the Company acts as Paying Agent, it shall segregate and hold as a separate trust fund all money held by it as Paying Agent. 
  
 SECTION 2.5 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 Holders
(the “Register”). 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 the Register. 
  
 SECTION 2.6 TRANSFER AND EXCHANGE. 
  
 (a) Subject to Sections 2.15 and 2.16, where Notes are presented to the
Registrar with a request to register their transfer or to exchange them for an equal principal amount of Notes of other authorized denominations, the Registrar shall register the transfer or make the exchange if its requirements for such transaction
are met. To permit registrations of transfer and exchanges, the Trustee shall authenticate Notes at the Registrar’s request. The Company or the Trustee, as the case may be, shall not be required (i) to issue, authenticate, register the transfer
of or exchange any Note during a period beginning at the opening of business 15 days before the mailing of a notice of redemption of the Notes selected for redemption under Article X and ending at the close of business on the day of such mailing or
(ii) to register the transfer of or exchange any Note so selected for redemption in whole or in part, except the unredeemed portion of Notes being redeemed in part. 
  
 (b) No service charge shall be made for any transfer, exchange or conversion of Notes, but the Company may require payment
of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any transfer, exchange or conversion of Notes, other than exchanges pursuant to Sections 2.10, 10.7, 11.1 or 12.2 not involving any transfer.

  
 SECTION 2.7 REPLACEMENT NOTES. 
  
 (a) If the Holder claims that the Note has been mutilated, lost, destroyed
or stolen, the Company shall issue and the Trustee shall authenticate a replacement Note if the Trustee’s requirements are met and, in the case of a mutilated Note, such mutilated Note is surrendered to the Trustee. In the case of lost,
destroyed or stolen Notes, if required by the Trustee, an indemnity bond must be provided by the Holder that is sufficient in the judgment of the Trustee to protect the Company, the Trustee or any Agent from any loss which any of them may suffer if
a Note is replaced. The Company may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation to replacing a Note and any other reasonable expenses (including the reasonable fees and expenses
of the Trustee) in connection therewith. 
  

 11 

 (b) In case any such mutilated, lost, destroyed or stolen Note has become or is about to become due and
payable, the Company in its discretion may, instead of issuing a new Note, pay such Note when due. 
  
 (c) Every replacement Note is an additional obligation of the Company only as provided in Section 2.8. 
  
 SECTION 2.8 OUTSTANDING NOTES. 
  
 (a) Notes outstanding at any time are all the Notes authenticated by the Trustee except for those converted, those cancelled
by it, those delivered to it for cancellation and those described in this Section 2.8(a) as not outstanding. Except to the extent provided in Section 2.9, a Note does not cease to be outstanding because the Company or one of its Subsidiaries or its
Affiliates holds the Note. 
  
 (b) If a Note is replaced pursuant
to Section 2.7, it ceases to be outstanding unless the Trustee receives proof satisfactory to it, or a court holds, that the replaced Note is held by a protected purchaser, as that term is defined in the New York Uniform Commercial Code. 

 
 (c) If the Paying Agent (other than the Company or any Affiliate of the
Company) holds on a maturity date money sufficient to pay Notes payable on that date (or, if the Company acts as Paying Agent, if the Company has segregated and holds such money in trust in accordance with Section 2.4), then on and after that date,
such Notes shall be deemed to be no longer outstanding and interest on them shall cease to accrue, and such Notes shall be deemed paid whether or not the Notes are delivered to the Paying Agent. Thereafter, all other rights of the Holders of such
Notes shall terminate with respect to such Notes, other than the right to receive the principal amount. 
  
 (d) If a Note is converted in accordance with Article XII, then from and after the time of conversion on the conversion date, such Note will cease to be
outstanding, and interest, if any, will cease to accrue on such Note. 
  
 SECTION
2.9 NOTES HELD BY THE COMPANY OR AN AFFILIATE. 
  
 In determining
whether the Holders of the required aggregate principal amount of Notes have concurred in any direction, waiver or consent, Notes owned by the Company or any of its Subsidiaries or an Affiliate of the Company shall be considered as though not
outstanding, except that for the purposes of determining whether a Responsible Officer of the Trustee shall be protected in relying on any such direction, waiver or consent, only Notes which the Trustee knows are so owned shall be so disregarded.

  
 SECTION 2.10 TEMPORARY NOTES. 
  
 Until definitive Notes are ready for delivery, the Company may prepare and
the Trustee shall authenticate temporary Notes. Temporary Notes shall be substantially in the form of definitive Notes but may have variations that the Company considers appropriate for temporary Notes. Without unreasonable delay, the Company shall
prepare and the Trustee shall authenticate definitive Notes in exchange for temporary Notes. 
  
 SECTION 2.11 CANCELLATION. 
  
 The Company at any time may deliver Notes to the Trustee for cancellation. The Registrar, Paying Agent and Conversion Agent shall forward to the Trustee any Notes surrendered to them for transfer, exchange, payment or conversion. The
Trustee shall cancel all Notes surrendered for transfer, exchange, payment, conversion or cancellation in accordance with its customary procedures. The Company may not issue new Notes to replace Notes that it has paid or delivered to the Trustee for
cancellation or that any Holder has converted pursuant to Article XII. 
  

 12 

 SECTION 2.12 DEFAULTED INTEREST. 
  
 If and to the extent the Company defaults in a payment of interest on the Notes, the Company shall pay the defaulted
interest in any lawful manner plus, to the extent not prohibited by applicable statute or case law, interest payable on the defaulted interest at the rate provided in the Notes (the “Defaulted Interest”). The Company may pay the
Defaulted Interest to the Persons who are Holders on a subsequent special record date fixed by the Company (a “Defaulted Interest Special Record Date”). The Company shall fix such Defaulted Interest Special Record Date and payment
date. At least 15 days before the Defaulted Interest Special Record Date, the Company shall mail to Holders a notice that states the Defaulted Interest Special Record Date, payment date and amount of interest to be paid. 
  
 SECTION 2.13 CUSIP NUMBERS. 
  
 The Company in issuing the Notes may use one or more “CUSIP” numbers, and if so, the Trustee shall use the CUSIP
numbers in notices of redemption or exchange as a convenience to Holders; provided, however, that no representation is hereby deemed to be made by the Trustee as to the correctness or accuracy of the CUSIP numbers printed in the notice
or on the Notes, and that reliance may be placed only on the other identification numbers printed on the Notes. The Company shall promptly notify the Trustee of any change in the CUSIP numbers. 
  
 SECTION 2.14 DEPOSIT OF MONEYS. 
  
 Prior to 11:00 A.M., New York City time, on each Interest Payment Date and
maturity date, the Company shall have deposited with a Paying Agent in immediately available funds money sufficient to make cash payments, if any, due on such Interest Payment Date and maturity date, as the case may be, in a timely manner which
permits the Paying Agent to remit payment to the Holders on such Interest Payment Date, and maturity date, as the case may be. 
  
 SECTION 2.15 BOOK-ENTRY PROVISIONS FOR GLOBAL NOTES. 
  
 (a) The Global Notes initially shall (i) be registered in the name of the Depositary or the nominee of such Depositary, (ii) be delivered to the Trustee
as custodian for such Depositary and (iii) bear legends as set forth in Section 2.17. 
  
 Members of, or participants in, the Depositary (“Participants”) shall have no rights under this Indenture with respect to any Global Notes held on their behalf by the Depositary, or the Trustee as its
custodian, or under the Global Notes, and the Depositary may be treated by the Company, the Trustee and any agent of the Company or the Trustee as the absolute owner of the Global Notes for all purposes whatsoever. Notwithstanding the foregoing,
nothing herein shall 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 impair, as between the Depositary and
Participants, the operation of customary practices governing the exercise of the rights of a Holder of any Notes. 
  
 (b) Transfers of Global Notes shall be limited to transfers in whole, but not in part, to the Depositary, its successors or their respective nominees. In
addition, Physical Notes shall be transferred to all beneficial owners in exchange for their beneficial interests in Global Notes if (i) the Depositary notifies the Company that it is unwilling or unable to continue as Depositary for any Global Note
and a successor Depositary is not appointed by the Company within 90 days of such notice or (ii) an Event of Default has occurred and is continuing and the Registrar has received a written request from the Depositary to issue Physical Notes.

  
 (c) In connection with the transfer of a Global Note in its
entirety to beneficial owners pursuant to Section 2.15(b), such Global Note shall be deemed to be surrendered to the Trustee for cancellation, and the Company shall execute, and the Trustee shall upon written instructions from the Company
authenticate and deliver, to each beneficial owner identified by the Depositary in exchange for its beneficial interest in such Global Note, an equal aggregate principal amount of Physical Notes of authorized denominations. 
  

 13 

 (d) Any Physical Note constituting a Restricted Security delivered in exchange for an interest in a
Global Note pursuant to Section 2.15(b) shall, except as otherwise provided by Section 2.16, bear the Restrictive Securities Legend. 
  
 (e) The Holder of any Global Note may grant proxies and otherwise authorize any Person, including Participants and Persons that may hold interests through
Participants, to take any action which a Holder is entitled to take under this Indenture or the Notes. 
  
 SECTION 2.16 SPECIAL TRANSFER PROVISIONS. 
  
 (a) TRANSFERS TO QIBS. The following provisions shall apply with respect to the registration of any proposed transfer of a Restricted Security to a QIB: 
  
 (i) the Registrar shall register the transfer of any Restricted Security, whether or not such Note bears the Restrictive
Securities Legend, if (x) the requested transfer is after the second anniversary of the issue date for the Notes, so long as neither the Company nor any of its Affiliates has held any beneficial interest in such Note, or portion thereof, at any time
on or prior to the second anniversary of the issue date for the Notes, or (y) such transfer is being made by a proposed transferor who has checked the box provided for on the form of Note stating, or has otherwise advised the Company and the
Registrar in writing, that the sale has been made in compliance with the provisions of Rule 144A to a transferee who has signed the certification provided for on the form of Note stating, or has otherwise advised the Company and the Registrar in
writing, that it is purchasing the Note for its own account or an account with respect to which it exercises sole investment discretion and that it and any such account is a QIB within the meaning of Rule 144A, and is aware that the sale to it is
being made in reliance on Rule 144A and acknowledges that it has received such information regarding the Company as it has requested pursuant to Rule 144A or has determined not to request such information and that it is aware that the transferor is
relying upon its foregoing representations in order to claim the exemption from registration provided by Rule 144A; and 
  
 (ii) if the proposed transferor is a Participant seeking to transfer an interest in one Global Note to a transferee who will hold such interest in another
Global Note, upon receipt by the Registrar of (x) written instructions given in accordance with the Depositary’s and the Registrar’s procedures and (y) the appropriate certificates and other documents, if any, required by clause (y) of
paragraph (i) above, the Registrar shall register the transfer and reflect on its books and records the date and (A) a decrease in the aggregate principal amount of the Global Note through which the transferor held such interest in an amount equal
to the aggregate principal amount of the Notes to be transferred and (B) an increase in the aggregate principal amount of the Global Note through which the transferee proposes to hold such interest, in an amount equal to the aggregate principal
amount of the Notes to be transferred. 
  
 (b) RESTRICTIONS ON
TRANSFER AND EXCHANGE OF GLOBAL NOTES. Notwithstanding any other provisions of this Indenture, a Global Note 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. 
  
 (c) RESTRICTIVE SECURITIES LEGEND. Upon the transfer, exchange or replacement of Notes not bearing the Restrictive Securities Legend, the Registrar or
co-Registrar shall deliver Notes that do not bear the Restrictive Securities Legend. Upon the transfer, exchange or replacement of Notes bearing the Restrictive Securities Legend, the Registrar or co-Registrar shall deliver only Notes that bear the
Restrictive Securities Legend unless (i) the requested transfer is after the second anniversary of the issue date for the Notes, so long as neither the Company nor any of its Affiliates has held any beneficial interest in such Note, or portion
thereof, at any time on or prior to the second anniversary of the issue date for the Notes, (ii) there is delivered to the Trustee an Opinion of Counsel reasonably satisfactory to the Company to the effect that neither such legend nor the related
restrictions on transfer are required in order to maintain compliance with the provisions of the Securities Act or (iii) such Note has been sold pursuant to an effective registration statement under the Securities Act and the Holder selling such
Notes has delivered to the Registrar or co-Registrar a notice in the form of Exhibit C hereto. Upon the effectiveness of the Shelf Registration Statement (as defined in the Registration Rights Agreement), the Company shall deliver to the
Trustee a notice of effectiveness, a Note or Notes, an authentication order in accordance with Section 2.2 and an opinion of counsel in the form of Exhibit D hereto and, if required by the Depositary, the Company shall deliver to the
Depositary a letter of representations in a form reasonably acceptable to the Depositary. 
  

 14 

 (d) GENERAL. By its acceptance of any Note bearing the Restrictive Securities Legend, each Holder of such
Note acknowledges the restrictions on transfer of such Note set forth in this Indenture and in the Restrictive Securities Legend and agrees that it will transfer such Note only as provided in this Indenture. 
  
 The Registrar shall retain copies of all letters, notices and other written
communications received pursuant to Section 2.15 or this Section 2.16. The Company shall have the right to inspect and make copies of all such letters, notices or other written communications at any reasonable time upon the giving of reasonable
written notice to the Registrar. 
  
 (e) TRANSFERS OF NOTES HELD
BY AFFILIATES. Any certificate (i) evidencing a Note that has been transferred to an Affiliate of the Company within two years after the issue date for the Notes, as evidenced by a notation on the Assignment Form for such transfer or in the
representation letter delivered in respect thereof or (ii) evidencing a Note that has been acquired from an Affiliate of the Company (other than by an Affiliate) in a transaction or a chain of transactions not involving any public offering, shall,
until two years after the last date on which the Company or any Affiliate of the Company was an owner of such Note, in each case, bear the Restrictive Securities Legend, unless otherwise agreed by the Company (with written notice thereof to the
Trustee). 
  
 SECTION 2.17 RESTRICTIVE SECURITIES LEGENDS. 
  
 (a) Each Global Note and Physical Note that constitutes a Restricted
Security shall bear the legend (the “Restrictive Securities Legend”) as set forth in Exhibit B-1 on the face thereof until after the second anniversary of the later of (i) the issue date for the Notes, and (ii) the last date
on which the Company or any Affiliate of the Company was the owner of such Note (or any predecessor security) (or such shorter period of time as permitted by Rule 144(k) under the Securities Act or any successor provision thereunder) (or such longer
period of time as may be required under the Securities Act or applicable state securities laws in the opinion of counsel for the Company, unless otherwise agreed between the Company and the Holder thereof). 
  
 (b) Each Share of Common Stock that constitutes a Restricted Security shall
bear the Restrictive Securities Legend as set forth in Exhibit B-2 on the reverse thereof until after the second anniversary of the later of (i) the issue date for the Share of Common Stock, and (ii) the last date on which the Company or any
Affiliate of the Company was the owner of such Share of Common Stock (or any predecessor security) (or such shorter period of time as permitted by Rule 144(k) under the Securities Act or any successor provision thereunder) (or such longer period of
time as may be required under the Securities Act or applicable state securities laws in the opinion of counsel for the Company, unless otherwise agreed between the Company and the Holder thereof). 
  
 Each Global Note shall also bear the legend as set forth in Exhibit
B-3. 
  
 ARTICLE III. 
  
 SATISFACTION AND DISCHARGE 
  
 SECTION 3.1 SATISFACTION AND DISCHARGE OF INDENTURE. 
  
 When: 
  
 (1) the Company delivers to the Trustee for cancellation all Notes previously authenticated (other than any Notes which have
been destroyed, lost or stolen and in lieu of, or in substitution for which, other Notes shall have been authenticated and delivered) and not previously canceled, or 
  
 (2) the Company deposits with the Trustee, within one year before the Notes have become due and payable, whether at stated
maturity or any other redemption date, or within one year of the Notes being scheduled for conversion or otherwise, cash or Common Stock, pursuant to Article XII, sufficient to pay all of the 
  

 15 

 outstanding Notes and all other sums payable by the Company under this Indenture, and if, in the case of either clause
(1), or (2), the Company shall also pay or cause to be paid all other sums payable hereunder by the Company, then this Indenture shall cease to be of further effect, except as to: 
  
 (i) remaining rights of registration of transfer, substitution and exchange and conversion of Notes, (ii) rights hereunder
of Holders to receive payments of principal of and premium, if any, and interest (including Liquidated Damages, if any) on, the Notes and the other rights, duties and obligations of Holders, as beneficiaries hereof with respect to the amounts, if
any, so deposited with the Trustee, and 
  
 (ii) the rights,
obligations and immunities of the Trustee hereunder, and the Trustee, on written demand of the Company accompanied by an Officers’ Certificate and an Opinion of Counsel (each stating that all conditions precedent herein relating to the
satisfaction and discharge of this Indenture have been complied with) and at the cost and expense of the Company, shall execute proper instruments acknowledging satisfaction of and discharging this Indenture; provided, however, the
Company shall reimburse the Trustee for all amounts due the Trustee under Section 4.8 and Section 5.7 and for any costs or expenses thereafter reasonably and properly incurred by the Trustee and to compensate the Trustee for any services thereafter
reasonably and properly rendered by the Trustee in connection with this Indenture or the Notes. 
  
 SECTION 3.2 DEPOSITED MONIES TO BE HELD IN TRUST. 
  
 Subject to Section 3.3, all monies deposited with the Trustee pursuant to Section 3.1 shall be held in trust and applied by it to the payment, notwithstanding the provisions of Article XII, either directly or through
any Paying Agent (including the Company if acting as its own Paying Agent), to the Holders of the particular Notes for the payment or redemption of which such monies have been deposited with the Trustee, of all sums due and to become due thereon for
principal, premium, if any, and interest (including Liquidated Damages, if any). All monies deposited with the Trustee pursuant to Section 3.1 (and held by it or any Paying Agent) for the payment of Notes subsequently converted shall be returned to
the Company upon request of the Company. 
  
 SECTION 3.3 RETURN OF UNCLAIMED
MONIES. 
  
 Anything contained herein to the contrary
notwithstanding, and subject to any applicable law, any money held by the Trustee in trust for the payment and discharge of the principal, interest (including Liquidated Damages, if any) or premium, if any, on any of the Notes which remains
unclaimed for two years after the date when each payment of such principal, interest and premium has become payable shall be repaid within sixty days of such date by the Trustee to the Company as its absolute property free from trust, and the
Trustee shall thereupon be released and discharged with respect thereto and the Holders shall look only to the Company for the payment of the principal, interest (including Liquidated Damages, if any) and premium, if any, on such Notes. The Company
may cause, or, if requested by the Company, the Trustee shall cause notice of such payment to the Company to be mailed to each Holder entitled thereto prior to such payment. The Trustee shall not be liable to the Company or any Holder for interest
on funds held by it for the payment and discharge of the principal, interest (including Liquidated Damages, if any) or premium, if any, on of any of the Notes to any Holder. The Company shall not be liable for any interest on the sums paid to it
pursuant to this paragraph and shall not be regarded as a trustee of such money. 
  
 ARTICLE IV. 
  
 DEFAULTS AND
REMEDIES 
  
 SECTION 4.1 EVENTS OF DEFAULT. 
  
 An “Event of Default,” wherever used herein, means any one
of the following events (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of
any administrative or governmental body): 
  
 (a) default in the
payment of principal of, or premium, if any, or make whole premium, if applicable, on any Note at its stated maturity, upon redemption or exercise of the Holder Repurchase Right or the Purchase Option or otherwise; 
  

 16 

 (b) default in the payment of interest or Liquidated Damages, if any, on any Note when due and payable
and continuance of such default for a period of 30 days; 
  
 (c)
default in the performance or breach of any term, covenant or agreement of the Company in this Indenture or under the Notes and continuance of such default or breach for a period of 60 consecutive days after there has been given, by registered or
certified mail, to the Company by the Trustee or to the Company and the Trustee by the Holders of at least 25% in principal amount of the outstanding Notes a written notice specifying such default or breach and requiring it to be remedied and
stating that such notice is a “Notice of Default” hereunder; 
  
 (d) a default occurs under any mortgage, indenture or instrument under which there may be issued or by which there may be secured or evidenced any indebtedness for money borrowed by the Company or any of the Company’s Subsidiaries,
whether such Indebtedness now exists or shall be created hereafter, which default (i) is caused by a failure to pay principal of such Indebtedness by the end of the applicable grace period, if any, unless such Indebtedness is discharged (a
“Payment Default”) or (ii) results in the acceleration of such Indebtedness, unless such acceleration is waived, cured, rescinded or annulled, the principal amount of any such Indebtedness, together with the principal amount of any
other such Indebtedness under which there is then existing a Payment Default or the maturity of which has been so accelerated, aggregates $10 million or more; 
  

(e) a court having jurisdiction in the premises enters a decree or order for (A) relief in respect of the Company or any of the Company’s
Significant Subsidiaries in an involuntary case under any applicable bankruptcy or other similar law now or hereafter in effect, (B) appointment of a receiver, liquidator, assignee, custodian, trustee, sequestrator or similar official of the Company
or any of the Company’s Significant Subsidiaries or (C) the winding up or liquidation of the affairs of the Company or any of the Company’s Significant Subsidiaries and, in each case, such decree or order shall remain unstayed and in
effect for a period of 30 consecutive days; 
  
 (f) the Company or
any of the Company’s Significant Subsidiaries (A) commences a voluntary case under any applicable bankruptcy or other similar law now or hereafter in effect, or consents to the entry of an order for relief in an involuntary case under any such
law, (B) consents to the appointment of or taking possession by a receiver, liquidator, assignee, custodian, trustee, sequestrator or similar official of the Company or any of the Company’s Significant Subsidiaries or for all or substantially
all of the property and assets of the Company or any of the Company’s Significant Subsidiaries or (C) effects any general assignment for the benefit of creditors; or 
  
 (g) failure by the Company to provide the notice required under this Indenture upon a Change of Control. 
  
 SECTION 4.2 ACCELERATION OF MATURITY; RESCISSION AND ANNULMENT. 
  
 (a) If an Event of Default with respect to outstanding Notes (other than an
Event of Default with respect to the Company specified in Section 4.1(e) or 4.1(f) hereof) occurs and is continuing and has not been cured or waived in accordance with this Indenture, the Trustee or the Holders of at least 25% in aggregate principal
amount of the outstanding Notes, by written notice to the Company specifying such Event of Default and requiring it to be remedied and stating that such notice is a “Notice of Default” hereunder, may declare due and payable 100% of the
principal amount of all outstanding Notes plus any accrued and unpaid interest to the date of payment. Upon a declaration of acceleration, such principal and accrued and unpaid interest to the date of payment shall be immediately due and payable.

  
 (b) If an Event of Default with respect to the Company
specified in Section 4.1(e) or 4.1(f) hereof occurs, all unpaid principal and accrued and unpaid interest (including Liquidated Damages, if any) on the outstanding Notes shall become and be immediately due and payable, without any declaration or
other act on the part of the Trustee or any Holder. 
  

 17 

 (c) The Holders, either (a) through the written consent of not less than a majority in aggregate
principal amount of the outstanding Notes, or (b) by the adoption of a resolution by Holders of a majority in aggregate principal amount of the outstanding Notes represented at a meeting of Holders at which a quorum (as prescribed in Section 8.4) is
present, may rescind and annul an acceleration and its consequences if: 
  
 (1) all existing Events of Default, other than the nonpayment of principal of or interest (including Liquidated Damages, if any) on the Notes which have become due solely because of the acceleration, have been
remedied, cured or waived, and 
  
 (2) the rescission would not
conflict with any judgment or decree of a court of competent jurisdiction; 
  
 provided, however, that in the event of a declaration of acceleration in respect of the Notes because of an Event of Default specified in Section 4.1(d) shall have occurred and be continuing, such declaration of acceleration
shall be automatically rescinded and annulled if the indebtedness that is the subject of such Event of Default has been discharged or the holders thereof have waived, cured, rescinded or annulled their declaration of acceleration in respect of such
indebtedness, and written notice of such discharge or waiver, cure, rescission or annulment as the case may be, shall have been given to the Trustee by the Company and countersigned by the holders of such indebtedness or a trustee, fiduciary or
agent for such holders, within 30 days after such declaration of acceleration in respect of the Notes and no other Event of Default has occurred during such 30-day period which has not been cured or waived during such period. 
  
 SECTION 4.3 OTHER REMEDIES. 
  
 If an Event of Default occurs and is continuing, the Trustee may, in its discretion, pursue any available remedy by
proceeding at law or in equity to collect the payment of principal of or interest on the Notes or to enforce the performance of any provision of the Notes. 
  
 The Trustee may maintain a proceeding in which it may prosecute and enforce all rights of action and claims under this Indenture or the Notes, even if it
does not possess any of the Notes or does not produce any of them in the proceeding. 
  
 SECTION 4.4 WAIVER OF PAST DEFAULTS. 
  
 The Holders,
either (a) through the written consent of not less than a majority in aggregate principal amount of the outstanding Notes, or (b) by the adoption of a resolution, at a meeting of Holders of the outstanding Notes at which a quorum (as prescribed in
Section 8.4) is present, by the Holders of at least a majority in aggregate principal amount of the outstanding Notes represented at such meeting, may, on behalf of the Holders of all of the Notes, waive an existing Default or Event of Default,
except a Default or Event of Default: 
  
 (1) in the payment of
the principal of or premium, if any, or interest (including Liquidated Damages, if any) on any Note; provided, however, that subject to Section 4.7, the Holders of a majority in aggregate principal amount of the outstanding Notes may
rescind an acceleration and its consequences, including any related payment default that resulted from such acceleration); and 
  
 (2) in respect of a covenant or provision hereof which, under Section 7.2, including Section 7.2(g), cannot be modified or amended without the consent of
the Holders of each outstanding Note affected. 
  
 Upon any such
waiver, such Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured, for every purpose of this Indenture; provided, however, that no such waiver shall extend to any subsequent or
other Default or impair any right consequent thereon. 
  

 18 

 SECTION 4.5 CONTROL BY MAJORITY. 
  
 The Holders of a majority in aggregate principal amount of the outstanding Notes (or such lesser amount as shall have acted
at a meeting pursuant to the provisions of this Indenture) shall have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or exercising any trust or power conferred on the Trustee.
However, the Trustee may refuse to follow any direction that: 
  
 (1) conflicts with any law or with this Indenture; 
  
 (2) the Trustee determines may be unduly prejudicial to the rights of the Holders not joining therein; or 
  
 (3) may expose the Trustee to personal liability. 
  
 The Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction. 
  
 SECTION 4.6 LIMITATION ON SUIT. 
  
 No Holder shall have any right to pursue any remedy with respect to this
Indenture or the Notes (including, instituting any proceeding, judicial or otherwise, with respect to this Indenture or for the appointment of a receiver or trustee) unless: 
  
 (1) such Holder has previously given written notice to the Trustee of an Event of Default that is continuing; 
  
 (2) the Holder of at least 25% in aggregate principal amount of the
outstanding Notes shall have made written request to the Trustee to pursue the remedy; 
  
 (3) such Holder or Holders have offered to the Trustee indemnity satisfactory to it against any costs, expenses and liabilities incurred in complying with such request; 
  
 (4) the Trustee has failed to comply with the request for 60 days after its
receipt of such notice, request and offer of indemnity; and 
  
 (5) during such 60-day period, no direction inconsistent with such written request has been given to the Trustee by the Holders of a majority in aggregate principal amount of the outstanding Notes (or such amount as shall have acted at a
meeting pursuant to the provisions of this Indenture); 
  
 provided,
however, that no one or more of such Holders may use this Indenture to prejudice the rights of another Holder (including conversion rights) or to obtain preference or priority over another Holder. 
  
 SECTION 4.7 UNCONDITIONAL RIGHT OF HOLDERS TO RECEIVE PAYMENT. 
  
 Notwithstanding any other provision in this Indenture, the Holder of a Note
shall have the right, which is absolute and unconditional, to receive payment of the principal of and premium, if any, and interest (including Liquidated Damages, if any) on such Note on the stated maturity expressed in such Note, and in the case of
the exercise of a Holder Repurchase Right or a Purchase Option, on the Holder Repurchase Date or the Purchase Date, as applicable, and to bring suit for the enforcement of any such payment on or after such respective dates, and such right shall not
be impaired or affected without the consent of such Holder. 
  
 SECTION 4.8
COLLECTION OF INDEBTEDNESS AND SUITS FOR ENFORCEMENT BY THE TRUSTEE. 
  
 The Company covenants that if: 
  
 (1) a default is made
in the payment of any interest (including Liquidated Damages, if any) on any Note when such interest (including Liquidated Damages, if any) becomes due and payable and such default continues for a period of 30 days, or 
  

 19 

 (2) a default is made in the payment of the principal of or premium, if any, on any Note at the maturity
thereof, the Company will, upon demand of the Trustee, pay to it, for the benefit of the Holders of such Notes, the whole amount then due and payable (as expressed therein or as a result of any acceleration effected pursuant to Section 4.2) on such
Notes for principal and premium, if any, and interest (including Liquidated Damages, if any) and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal and premium, if any, and on any overdue
interest (including Liquidated Damages, if any), calculated using the interest rate for the Notes, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable
compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. 
  
 If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and
unpaid, may prosecute such proceeding to judgment or final decree and may enforce the same against the Company and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company, wherever
situated. 
  
 If an Event of Default occurs and is continuing, the
Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific
enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy. 
  
 SECTION 4.9 TRUSTEE MAY FILE PROOFS OF CLAIM. 
  
 In case of the pendency of any receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or other judicial
proceeding relative to the Company or the property of the Company or its creditors, the Trustee (irrespective of whether the principal of the Notes shall then be due and payable as therein expressed or by declaration or otherwise and irrespective of
whether the Trustee shall have made any demand on the Company for the payment of overdue principal or interest (including Liquidated Damages, if any)) shall be entitled and empowered, by intervention in such proceeding or otherwise, 
  
 (1) to file and prove a claim for the whole amount of principal and premium,
if any, and interest (including Liquidated Damages, if any) owing and unpaid in respect of the Notes and to file such 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 of the Holders allowed in such judicial proceeding, and 
  
 (2) to collect and receive any moneys or other property payable or deliverable on any such claim and to distribute the same;

  
 and any custodian, receiver, assignee, trustee, liquidator, sequestrator or
other similar official in any such judicial proceedings 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 4.8. 
  
 Nothing contained herein shall be deemed to authorize the Trustee to authorize or consent to or accept, or adopt on behalf
of any Holder, any plan of reorganization, arrangement, adjustment or composition affecting the Notes 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. 

 

 20 

 SECTION 4.10 RESTORATION OF RIGHTS AND REMEDIES. 
  
 If the Trustee or any Holder has instituted any proceeding to enforce any right or remedy under this Indenture and such
proceeding has been discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to such Holder, then and in every such case, subject to any determination in such proceeding, the Company, the Trustee and the Holders
shall be restored severally and respectively to their former positions hereunder and thereafter all rights and remedies of the Trustee and the Holders shall continue as though no such proceeding had been instituted. 
  
 SECTION 4.11 RIGHTS AND REMEDIES CUMULATIVE. 
  
 No right or remedy conferred in this Indenture upon or reserved to the
Trustee or to the Holders is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent permitted by law, be cumulative and in addition to every other right and remedy given hereunder or hereafter existing
at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other appropriate right or remedy. 
  
 SECTION 4.12 DELAY OR OMISSION NOT WAIVER. 
  
 No delay or omission of the Trustee or of any Holder to exercise any right
or remedy accruing upon any Event of Default shall impair any such right or remedy or constitute a waiver of any such Event of Default or any acquiescence therein. Every right and remedy given by this Article IV or by law to the Trustee or to the
Holders may be exercised from time to time, and as often as may be deemed expedient, by the Trustee or by the Holders, as the case may be. 
  
 SECTION 4.13 APPLICATION OF MONEY COLLECTED. 
  
 Subject to Article XI, any money collected by the Trustee pursuant to this Article IV shall be applied in the following order, at the date or dates fixed
by the Trustee and, in case of the distribution of such money on account of principal or premium, if any, or interest (including Liquidated Damages, if any), upon presentation of the Notes and the notation thereon of the payment if only partially
paid and upon surrender thereof if fully paid: 
  
 FIRST: To the
payment of all amounts due the Trustee; 
  
 SECOND: To the payment
of the amounts then due and unpaid for principal of and premium, if any, and interest (including Liquidated Damages, if any) on the Notes in respect of which or for the benefit of which such money has been collected, ratably, without preference or
priority of any kind, according to the amounts due and payable on such Notes for principal and premium, if any, and interest (including Liquidated Damages, if any), respectively; and 
  
 THIRD: Any remaining amounts shall be repaid to the Company. 
  
 SECTION 4.14 UNDERTAKING FOR COSTS. 
  
 All parties to this Indenture agree, and each Holder of any Note by such Holder’s acceptance thereof shall be deemed to have agreed, that any court
may in its discretion require, in any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action taken, suffered or omitted by it as Trustee, the filing by any party litigant in such suit
of an undertaking to pay the costs of such suit, and that such court may in its discretion assess reasonable costs, including reasonable attorneys’ fees, against any party litigant in such suit, having due regard to the merits and good faith of
the claims or defenses made by such party litigant; but the provisions of this Section shall not apply to any suit instituted by the Trustee, to any suit instituted by any Holder, or group of Holders, holding in the aggregate more than 10% in
aggregate principal amount of the outstanding Notes, or to any suit instituted by any Holder of any Note for the enforcement of the payment of the principal of or premium, if any, or interest (including Liquidated Damages, if any) on any Note on or
after the stated maturity expressed in such Note or for the enforcement of the right to convert any Note in accordance with Article XII. 
  

 21 

 SECTION 4.15 WAIVER OF STAY OR EXTENSION LAWS. 
  
 The Company covenants (to the extent that it may lawfully do so) that it will not at any time insist upon, or plead, or in
any manner whatsoever claim to take the benefit or advantage of, any stay or extension law wherever enacted, now or at any time hereafter in force, which may affect the covenants or the performance of this Indenture; and the Company (to the extent
that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law and covenants that it will not hinder, delay or impede the execution of any power herein granted to the Trustee, but will suffer and permit the execution of
every such power as though no such law had been enacted. 
  
 ARTICLE V. 
  
 THE TRUSTEE 
  
 SECTION 5.1 DUTIES OF TRUSTEE. 
  
 (a) If an Event of Default has occurred and is continuing, the Trustee shall exercise such of the rights and powers vested
in it by this Indenture, and use the same degree of care and skill in their exercise, as a prudent person would exercise or use under the circumstances in the conduct of his or her own affairs. 
  
 (b) Except during the continuance of an Event of Default: 
  
 (i) the Trustee need perform only those duties that are specifically set
forth in this Indenture and no implied covenants or obligations shall be read into this Indenture against the Trustee; and 
  
 (ii) in the absence of bad faith, willful misconduct or negligence on its part, the Trustee may conclusively rely, as to the truth of the statements and
the correctness of the opinions expressed therein, upon 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 which by any provision hereof are
specifically required to be furnished to the Trustee, the Trustee shall examine the certificates and opinions to determine whether or not they conform to the requirements of this Indenture (but need not confirm or investigate the accuracy of
mathematical calculations or other facts stated therein). 
  
 (c)
The Trustee may not be relieved from liability for its own negligent action, its own negligent failure to act or its own willful misconduct, except that: 
  
 (i) the Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer, unless it is proved that the Trustee was
negligent in ascertaining the pertinent facts; and 
  
 (ii) the
Trustee shall not be liable with respect to any action it takes or omits to take in good faith in accordance with a direction received by it pursuant to Section 4.5. 
  
 (d) Every provision of this Indenture that in any way relates to the Trustee in any of its roles hereunder is subject to the
provisions of this Section 5.1. 
  
 (e) The Trustee shall not be
liable for interest on any money received by it except as the Trustee may agree in writing with the Company. Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law. 
  
 SECTION 5.2 RIGHTS OF TRUSTEE. 
  
 (a) Subject to Section 5.1, the Trustee may conclusively rely on any document believed by it to be genuine and to have been
signed or presented by the proper person. The Trustee need not investigate any fact or 
  

 22 

 matter stated in the document; if, however, the Trustee shall determine to make such further inquiry or investigation, it
shall be entitled during normal business hours to examine the relevant books, records and premises of the Company, personally or by agent or attorney upon reasonable prior notice. 
  
 (b) Before the Trustee acts or refrains from acting, it may require an Officers’ Certificate and/or an Opinion of
Counsel. The Trustee shall not be liable for any action it takes or omits to take in good faith in reliance on such Officers’ Certificate or Opinion of Counsel. 
  
 (c) Any request or direction of the Company mentioned herein shall be sufficiently evidenced by an Order and any resolution
of the Board of Directors shall be sufficiently evidenced by a Board Resolution. 
  
 (d) 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, suffered or omitted by it
hereunder in good faith and in reliance thereon. 
  
 (e) The
Trustee may act through agents or attorneys and shall not be responsible for the misconduct or negligence of any agent or attorney appointed with due care. 
  
 (f) The Trustee shall not be liable for any action it takes or omits to take in good faith which it believes to be authorized or within its discretion,
rights or powers conferred upon it by this Indenture. 
  
 (g)
Except with respect to Section 5.1, the Trustee shall have no duty to inquire as to the performance of the Company with respect to the covenants contained in Article IX. In addition, the Trustee shall not be deemed to have knowledge of a Default or
an Event of Default except (i) any Default or Event of Default occurring pursuant to Sections 4.1(a) and 4.1(b) or (ii) any Default or Event of Default of which a Responsible Officer of the Trustee shall have received written notification or
obtained actual knowledge. Delivery of reports, information and documents to the Trustee under Article IX (other than Sections 9.4 and 9.7) is 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 its covenants hereunder (as to which the Trustee is entitled to rely exclusively on
Officers’ Certificates). 
  
 (h) The Trustee shall be under
no obligation to exercise any of the rights or powers vested by this Indenture at the request or direction of any of the Holders pursuant to this Indenture unless such Holders shall have offered to the Trustee security or indemnity reasonably
satisfactory to the Trustee against the costs, expenses and liabilities which might be incurred by it in compliance with such request or direction. 
  
 (i) The rights, privileges, protections, immunities and benefits given to the Trustee, including without limitation, its right to be indemnified, are
extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder, including as Transfer Agent, Paying Agent, Registrar, Conversion Agent, Calculation Agent and co-registrar, and its directors, officers, employees and each
agent, custodian and other Person employed to act hereunder. 
  
 (j) The Trustee may request that the Company deliver an Officers’ Certificate setting forth the names of individuals and/or titles of officers authorized at such time to take specified actions pursuant to this Indenture, which
Officers’ Certificate may be signed by any Person authorized to sign an Officers’ Certificate, including any Person specified as so authorized in any such certificate previously delivered and not superseded. 
  
 (k) No provision of this Indenture shall require the Trustee to expend or
risk its own funds or otherwise incur any financial liability in the performance of its duties hereunder or in the exercise of any of its rights or powers. 
  
 (l) No permissive power, right or remedy conferred upon the Trustee hereunder shall be construed to impose a duty to exercise such power, right or remedy.

  

 23 

 (m) The Trustee shall have no duty to monitor or inquire as to the performance of the Company or Holders
with respect to the Registration Rights Agreement. The Trustee shall not be deemed to have knowledge of a Registration Default unless a Responsible Officer shall have received written notification of such event. 
  
 SECTION 5.3 INDIVIDUAL RIGHTS OF TRUSTEE. 
  
 The Trustee in its individual or any other capacity may become the owner or
pledgee of Notes and may otherwise deal with the Company or any of its Affiliates with the same rights it would have if it were not Trustee. Any Agent may do the same with like rights. The Trustee, however, must comply with Sections 5.10 and 5.11.

  
 SECTION 5.4 TRUSTEE’S DISCLAIMER. 
  
 The Trustee makes no representation as to the validity, priority or adequacy
of this Indenture or the Notes; it shall not be accountable for the Company’s use of the proceeds from the Notes; and it shall not be responsible for any statement in the Notes other than its certificate of authentication. 
  
 SECTION 5.5 NOTICE OF DEFAULTS. 
  
 If a Default or Event of Default occurs and is continuing as to which the
Trustee has received notice pursuant to the provisions of this Indenture, the Trustee shall mail to each Holder a notice of the Default or Event of Default within 90 days after it occurs unless such Default or Event of Default has been cured or
waived. Except in the case of a Default or Event of Default in payment of any amounts due with respect to any Note, the Trustee may withhold the notice if and so long as it in good faith determines that withholding the notice is in the best
interests of Holders. 
  
 SECTION 5.6 REPORTS BY TRUSTEE TO HOLDERS. 

 
 (a) Within 60 days after each August 15, beginning with August 15, 2005,
the Trustee shall mail to each Holder if required by TIA Section 313(a) a brief report dated as of such August 15 that complies with TIA Section 313(c). In such event, the Trustee also shall comply with TIA Section 313(b) and Section 313(d).

  
 (b) A copy of each report at the time of its mailing to
Holders shall be mailed to the Company and filed by the Trustee with the SEC and each stock exchange, if any, on which the Notes are listed. The Company shall promptly notify the Trustee when the Notes are listed on any stock exchange. 

 
 SECTION 5.7 COMPENSATION AND INDEMNITY. 
  
 (a) The Company shall pay to the Trustee from time to time such compensation
for its services as shall be agreed upon in writing. The Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Company shall reimburse the Trustee upon request for all reasonable
out-of-pocket expenses incurred by it. Such expenses shall include the reasonable compensation and out-of-pocket expenses of the Trustee’s agents and counsel. 
  
 (b) The Company shall indemnify the Trustee against any and all loss, liability, damage, claim or expense (including the
reasonable fees and expenses of counsel and taxes other than those based upon the income of the Trustee) incurred by it in connection with the acceptance or administration of this trust and the performance of its duties hereunder, including the
reasonable costs and expenses of defending itself against any claim (whether asserted by the Company, any Holder or any other Person) or liability in connection with the exercise or performance of any of its powers and duties hereunder. The Company
need not pay for any settlement made without its consent. The Trustee shall notify the Company promptly of any claim for which it may seek indemnification. The Company need not reimburse any expense or indemnify against any loss or liability
incurred by the Trustee through the Trustee’s negligence or willful misconduct. 
  

 24 

 (c) To secure the Company’s payment obligations in this Section 5.7, the Trustee shall have a lien
prior to the Notes on all money or property held or collected by the Trustee, except that held in trust to pay amounts due on particular Notes. 
  
 (d) The Company’s indemnity obligations with respect to the Trustee provided for in this Section 5.7 shall survive any resignation or removal of the
Trustee. 
  
 (e) When the Trustee incurs expenses or renders
services after an Event of Default specified in Section 4.1(e) or Section 4.1(f) occurs, the expenses and the compensation for the services are intended to constitute expenses of administration under any Bankruptcy Law. 
  
 SECTION 5.8 REPLACEMENT OF TRUSTEE. 
  
 (a) A resignation or removal of the Trustee and appointment of a successor
Trustee shall become effective only upon the successor Trustee’s acceptance of appointment as provided in this Section 5.8. 
  
 (b) The Trustee may resign by so notifying the Company in writing 30 Business Days prior to such resignation. The Holders of a majority in aggregate
principal amount of the Notes then outstanding may remove the Trustee by so notifying the Trustee and the Company in writing and may appoint a successor Trustee with the Company’s consent. The Company may remove the Trustee if: 
  
 (i) the Trustee fails to comply with Section 5.10; 
  
 (ii) the Trustee is adjudged a bankrupt or an insolvent; 
  
 (iii) a receiver or other public officer takes charge of the Trustee or its
property; or 
  
 (iv) the Trustee becomes incapable of acting.

  
 (c) If the Trustee resigns or is removed or if a vacancy
exists in the office of Trustee for any reason, the Company shall promptly appoint a successor Trustee. 
  
 (d) If a successor Trustee does not take office within 30 days after the retiring Trustee resigns or is removed, the retiring Trustee (at the
Company’s expense), the Company or the Holders of at least 10% in aggregate principal amount of the outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. 
  
 (e) If the Trustee fails to comply with Section 5.10, any Holder may petition
any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. 
  
 (f) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or
removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to Holders. The retiring
Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 5.7. 
  
 SECTION 5.9 SUCCESSOR TRUSTEE BY MERGER, ETC. 
  
 If the Trustee consolidates with, merges or converts into, or transfers by sale or otherwise all or substantially all of its corporate trust business to,
another corporation, the successor corporation without any further act shall be the successor Trustee, if such successor corporation is otherwise eligible hereunder. 
  

 25 

 SECTION 5.10 ELIGIBILITY; DISQUALIFICATION. 
  
 There shall at all times be a Trustee hereunder that is a corporation organized and doing business under the laws of the
United States of America or of any state thereof that is authorized under such laws to exercise corporate trustee power, that is subject to supervision or examination by federal or state authorities and that has a combined capital and surplus of at
least $100 million as set forth in its most recent published annual report of condition. The Trustee shall comply with TIA Section 310(b). 
  
 SECTION 5.11 PREFERENTIAL COLLECTION OF CLAIMS AGAINST ISSUER AND THE COMPANY. 
  

The Trustee shall comply with TIA Section 311(a), excluding any creditor relationship listed in TIA Section 311(b). A Trustee who has resigned or been
removed shall be subject to TIA Section 311(a) to the extent indicated. 
  
 ARTICLE VI. 
  
 CONSOLIDATION, MERGER, CONVEYANCE,
TRANSFER OR LEASE 
  
 SECTION 6.1 ISSUER OR COMPANY MAY CONSOLIDATE, ETC., ONLY ON
CERTAIN TERMS. 
  
 The Company shall not consolidate with, merge
with or into, or sell, convey, transfer, lease or otherwise dispose of all or substantially all of its property and assets (in one transaction or a series of related transactions) to any Person unless: 
  
 (1) either (A) the Company shall be the resulting, surviving or transferee
Person (the “Successor Company”), or (B) the Successor Company (if other than the Company) (i) shall be a Person organized and existing under the laws of the United States of America or any state thereof or the District of Columbia,
and (ii) shall expressly assume, by a supplemental indenture, executed and delivered to the Trustee, in form satisfactory to the Trustee, all of the Company’s obligations for the due and punctual payment of the principal of (and premium and
Liquidated Damages, if any) and interest on all Notes and the performance and observance of every covenant of this Indenture on the part of the Company to be performed or observed and shall have provided for conversion rights in accordance with
Section 12.11; 
  
 (2) immediately after giving effect to such
transaction, no Default or Event of Default shall have occurred and be continuing; and 
  
 (3) the Company shall have 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 VI and that all conditions precedent provided for herein relating to such transaction have been complied with. 
  
 SECTION 6.2 SUCCESSOR CORPORATION SUBSTITUTED. 
  
 Upon any consolidation of the Company with or merger of the Company with or
into any other Person or any conveyance, transfer or lease of all or substantially all of the properties and assets of the Company to any Person in accordance with Section 6.1, 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 in the event of any such conveyance or transfer, the Company (which term shall for this purpose mean the Person named as the “Company,” in the first paragraph of this Indenture or any successor Person which
shall theretofore become such in the manner described in Section 6.1), except in the case of a lease to another Person, shall be discharged of all obligations and covenants under this Indenture and the Notes. 
  

 26 

 ARTICLE VII. 
  
 AMENDMENTS, SUPPLEMENTS AND WAIVERS 
  
 SECTION 7.1 WITHOUT CONSENT OF HOLDERS. 
  
 Without the consent of any Holders, the Company, when authorized by Board Resolutions, and the Trustee, at any time and from time to time, may amend this
Indenture and the Notes to: 
  
 (a) add to the covenants of the
Company for the benefit of the Holders; 
  
 (b) surrender any
right or power herein conferred upon the Company; 
  
 (c) make
provision with respect to the conversion rights of Holders pursuant to Section 12.11; 
  
 (d) provide for the assumption of the Company’s obligations to the Holders in the case of a merger, consolidation, conveyance, transfer or lease pursuant to Article VI; 
  
 (e) reduce the Conversion Price; provided that such reduction in the
Conversion Price shall not adversely affect the interest of the Holders; 
  
 (f) comply with the requirements of the SEC in order to effect or maintain the qualification of this Indenture under the TIA; 
  
 (g) make any changes or modifications to this Indenture necessary in connection with the registration of any Notes and the Common Stock to be delivered
upon conversion of any Notes under the Securities Act as contemplated in the Registration Rights Agreement, provided that such action pursuant to this clause (g) does not, in the good faith opinion of the Board of Directors, adversely affect the
interests of the Holders in any material respect; 
  
 (h) cure any
ambiguity, to correct or supplement any provision herein which may be inconsistent with any other provision herein or which is otherwise defective, or to make any other provisions with respect to matters or questions arising under this Indenture
which the Company and the Trustee may deem necessary or desirable and which shall not be inconsistent with the provisions of this Indenture, provided, that such action pursuant to this clause (h) does not, in the good faith opinion of the Board of
Directors, adversely affect the interests of the Holders in any material respect; 
  
 (i) add or modify any other provisions with respect to matters or questions arising under this Indenture which the Company and the Trustee may deem necessary or desirable and which shall not be inconsistent with the
provisions of this Indenture, provided, that such action pursuant to this clause (i) does not adversely affect the interests of the Holders; or 
  
 (j) comply with the procedures of the Depositary. 
  
 SECTION 7.2 WITH CONSENT OF HOLDERS. 
  
 Except as provided below in this Section 7.2, this Indenture or the Notes may be amended, modified or supplemented, and noncompliance in any particular
instance with any provision of this Indenture or the Notes may be waived, in each case (i) with the written consent of the Holders of at least a majority in aggregate principal amount of the outstanding Notes or (ii) by the adoption of a resolution,
at a meeting of Holders of the outstanding Notes at which a quorum (as prescribed in Section 8.4) is present, by the Holders of a majority in aggregate principal amount of the outstanding Notes represented at such meeting. 
  
 Without the written consent or the affirmative vote of each Holder so
affected, an amendment, modification or waiver under this Section 7.2 may not: 
  
 (a) change the maturity of the principal of, or any installment of interest (including Liquidated Damages, if any) on, any Note; 
  

 27 

 (b) reduce the principal amount of, or premium, if any, or interest on (including Liquidated Damages or
any payment of liquidated damages, if any) on any Note; 
  
 (c)
change the currency of payment of principal of, premium, if any, or interest (including Liquidated Damages, if any) on any Note; 
  
 (d) impair the right of any Holder to institute suit for the enforcement of any payment in or with respect to any Note; 
  
 (e) modify the obligations of the Company to maintain an office or agency in
The City of New York pursuant to Section 9.2; 
  
 (f) amend the
Holder Repurchase Right after the occurrence of a Change of Control, the Holder Repurchase Right, the Purchase Option or the right to convert any Note in a manner adverse to the Holders; provided, however, that the execution of a
supplemental indenture solely to permit a Successor Company to assume the Company’s obligations under the Notes shall not be deemed to be adverse to the Holders; 
  
 (g) modify the redemption payment provisions of this Indenture in a manner adverse to the Holders; 
  
 (h) reduce the percentage of aggregate principal amount of Notes outstanding
necessary to waive a default or amend or modify this Indenture, except to provide that certain other provisions of this Indenture cannot be modified or waived without the consent of the Holder of each outstanding Note affected thereby; or

  
 (i) reduce the requirements of Section 8.4 for quorum or
voting, or reduce the percentage of aggregate principal amount of the outstanding Notes the consent of whose Holders is required for any such supplemental indenture or the consent of whose Holders is required for any waiver provided for in this
Indenture. 
  
 It shall not be necessary for any Act of Holders
under this Section 7.2 to approve the particular form of any proposal supplemental indenture, but it shall be sufficient if such Act shall approve the substance thereof. 
  
 SECTION 7.3 COMPLIANCE WITH TRUST INDENTURE ACT. 
  

Every amendment to this Indenture or the Notes shall be set forth in a supplemental indenture that complies with the TIA as then in effect. 

 
 SECTION 7.4 REVOCATION OF CONSENTS AND EFFECT OF CONSENTS OR VOTES. 
  
 Until an amendment, supplement or waiver becomes effective, a written
consent to it by a Holder is a continuing consent by the Holder and every subsequent Holder of a Note or portion of a Note that evidences the same debt as the consenting Holder’s Note, even if notation of the consent is not made on any Note;
provided, however, that unless a record date shall have been established, any such Holder or subsequent Holder may revoke the consent as to its Note or portion of a Note if the Trustee receives written notice of revocation before the
date the amendment, supplement or waiver becomes effective. 
  
 An
amendment, supplement or waiver becomes effective on receipt by the Trustee of written consents from or affirmative votes by, as the case may be, the Holders of the requisite percentage of aggregate principal amount of the outstanding Notes, and
thereafter shall bind every Holder of Notes; provided, however, if the amendment, supplement or waiver makes a change described in any of the clauses (a) through (i) of Section 7.2, the amendment, supplement or waiver shall bind only
each Holder of a Note which has consented to it or voted for it, as the case may be, and every subsequent Holder of a Note or portion of a Note that evidences the same indebtedness as the Note of the consenting or affirmatively voting, as the case
may be, Holder. 
  

 28 

 The Company may, but shall not be obligated to, fix a special record date (a “Special Record
Date”) for the purpose of determining the Holders entitled to consent to any amendment, supplement or waiver, which Special Record Date shall be not more than 30 days prior to the first solicitation of such consent. If a Special Record Date
is fixed, then notwithstanding the proviso in the first paragraph of this Section 7.4, those Persons who were Holders at such Special Record Date (or their duly designated proxies), and only those Persons, shall be entitled to revoke any consent
previously given, whether or not such Persons continue to be Holders after such Special Record Date. No such consent shall be valid or effective for more than 90 days after such Special Record Date unless consents from Holders of the requisite
percentage in principal amount of outstanding Notes required hereunder for the effectiveness of such consents shall have also been given and not revoked within such 90 day period. 
  
 SECTION 7.5 NOTATION ON OR EXCHANGE OF NOTES. 
  
 If an amendment, supplement or waiver changes the terms of a Note: 
  
 (a) the Trustee may require the Holder of such Note to deliver such Note to the Trustee, the Trustee may place an
appropriate notation on the Note about the changed terms and return it to the Holder and the Trustee may place an appropriate notation on any Note thereafter authenticated; or 
  
 (b) if the Company or the Trustee so determines, the Company in exchange for the Note shall issue and the Trustee shall
authenticate a new Note that reflects the changed terms. 
  
 Failure to make the appropriate notation or issue a new Note shall not affect the validity and effect of such amendment, supplement or waiver. 
  
 SECTION 7.6 TRUSTEE TO SIGN AMENDMENT, ETC. 
  
 The Trustee shall sign any amendment authorized pursuant to this Article VII if the amendment does not adversely affect the rights, duties, liabilities or
immunities of the Trustee. If the amendment does adversely affect the rights, duties, liabilities or immunities of the Trustee, the Trustee may but need not sign it. In signing or refusing to sign such amendment, the Trustee shall be entitled to
receive and shall be fully protected in relying upon an Officers’ Certificate and an Opinion of Counsel as conclusive evidence that such amendment is authorized or permitted by this Indenture. 
  
 ARTICLE VIII. 
  
 MEETING OF HOLDERS 
  
 SECTION 8.1 PURPOSES FOR WHICH MEETINGS MAY BE CALLED. 
  
 A meeting of Holders may be called at any time and from time to time pursuant to this Article VIII to make, give or take any request, demand,
authorization, direction, notice, consent, waiver or other action provided by this Indenture to be made, given or taken by Holders. 
  
 SECTION 8.2 CALL NOTICE AND PLACE OF MEETINGS. 
  
 (a) The Trustee may at any time call a meeting of Holders for any purpose specified in Section 8.1 hereof, to be held at such time and at such place in
The City of New York or The City of Los Angeles as the Trustee may determine. Notice of every meeting of Holders, setting forth the time and the place of such meeting and in general terms the action proposed to be taken at such meeting, shall be
given, in the manner provided in Section 14.2, not less than 21 nor more than 180 days prior to the date fixed for the meeting. 
  
 (b) In case at any time the Company, pursuant to a Board Resolution, or the Holders of at least 10% in principal amount of the outstanding Notes shall
have requested the Trustee to call a meeting of the Holders for any purpose specified in Section 8.1, by written request setting forth in reasonable detail the action proposed to be taken at the meeting, and the Trustee shall not have made the first
publication of the notice of such meeting within 21 days 
  

 29 

 after receipt of such request or shall not thereafter proceed to cause the meeting to be held as provided herein, then
the Company or the Holders in the amount specified, as the case may be, may determine the time and the place in The City of New York or The City of Los Angeles for such meeting and may call such meeting for such purposes by giving notice thereof as
provided in paragraph (a) of this Section 8.2. 
  
 SECTION 8.3 PERSONS ENTITLED TO
VOTE AT MEETINGS. 
  
 To be entitled to vote at any meeting of
Holders, a Person shall be (a) a Holder of one or more outstanding Notes, or (b) a Person appointed by an instrument in writing as proxy for a Holder or Holders of one or more outstanding Notes by such Holder or Holders. The only Persons who shall
be entitled to be present or to speak at any meeting of Holders shall be the Persons entitled to vote at such meeting and their counsel, any representatives of the Trustee and its counsel and any representatives of the Company and its counsel.

  
 SECTION 8.4 QUORUM; ACTION. 
  
 The Persons entitled to vote a majority in principal amount of the
outstanding Notes shall constitute a quorum. In the absence of a quorum within 30 minutes of the time appointed for any such meeting, the meeting shall, if convened at the request of Holders, be dissolved. In any other case, the meeting may be
adjourned for a period of not less than 10 days as determined by the chairman of the meeting prior to the adjournment of such meeting. In the absence of a quorum at any such adjourned meeting, such adjourned meeting may be further adjourned for a
period of not less than 10 days as determined by the chairman of the meeting prior to the adjournment of such adjourned meeting. Notice of the reconvening of any adjourned meeting shall be given as provided in Section 8.2(a), except that such notice
need be given only once and not less than five days prior to the date on which the meeting is scheduled to be reconvened. 
  
 At a meeting or an adjourned meeting duly reconvened and at which a quorum is present as aforesaid, any resolution and all matters (except as limited by
the proviso to Section 7.2) shall be effectively passed and decided if passed or decided by the Persons entitled to vote not less than a majority in principal amount of outstanding Notes represented and voting at such meeting. 
  
 Any resolution passed or decisions taken at any meeting of Holders duly held
in accordance with this Section shall be binding on all the Holders, whether or not present or represented at the meeting. 
  
 SECTION 8.5 DETERMINATION OF VOTING RIGHTS; CONDUCT AND ADJOURNMENT OF MEETINGS. 
  

(a) Notwithstanding any other provisions of this Indenture, the Trustee may make such reasonable regulations as it may deem advisable for any meeting
of Holders in regard to proof of the holding of Notes and of the appointment of proxies and in regard to the appointment and duties of inspectors of votes, the submission and examination of proxies, certificates and other evidence of the right to
vote, and such other matters concerning the conduct of the meeting as it shall deem appropriate. Except as otherwise permitted or required by any such regulations, the holding of Notes shall be proved in the manner specified in Section 8.3 and the
appointment of any proxy shall be proved in the manner specified in Section 8.3. Such regulations may provide that written instruments appointing proxies, regular on their face, may be presumed valid and genuine without the proof specified in
Section 8.3 or other proof. 
  
 (b) The Trustee shall, by an
instrument in writing, appoint a temporary chairman (which may be the Trustee) of the meeting, unless the meeting shall have been called by the Company or by Holders as provided in Section 8.2(b), in which case the Company or the Holders calling the
meeting, as the case may be, shall in like manner appoint a temporary chairman. A permanent chairman and a permanent secretary of the meeting shall be elected by vote of the Persons entitled to vote a majority in principal amount of the outstanding
Notes represented at the meeting. 
  
 (c) At any meeting each
Holder of a Note or proxy shall be entitled to one vote for each $1,000 principal amount of Notes held or represented by him; provided, however, that no vote shall be cast or counted at any meeting in respect of any Note challenged as
not outstanding and ruled by the chairman of the meeting to be not outstanding. The chairman of the meeting shall have no right to vote, except as a Holder of a Note or proxy. 
  

 30 

 (d) Any meeting of Holders duly called pursuant to Section 8.2 at which a quorum (as prescribed in
Section 8.4) is present may be adjourned from time to time by Persons entitled to vote a majority in principal amount of the outstanding Notes represented at the meeting, and the meeting may be held as so adjourned without further notice.

  
 SECTION 8.6 COUNTING VOTES AND RECORDING ACTION OF MEETINGS. 
  
 The vote upon any resolution submitted to any meeting of Holders shall be by
written ballots on which shall be subscribed the signatures of the Holders or of their representatives by proxy and the principal amounts and serial numbers of the outstanding Notes held or represented by them. The permanent chairman of the meeting
shall appoint two inspectors of votes who shall count all votes cast at the meeting for or against any resolution and who shall make and file with the secretary of the meeting their verified written reports in duplicate of all votes cast at the
meeting. A record, at least in duplicate, of the proceedings of each meeting of Holders shall be prepared by the secretary of the meeting and there shall be attached to said record the original reports of the inspectors of votes on any vote by
ballot taken thereat and affidavits by one or more Persons having knowledge of the facts setting forth a copy of the notice of the meeting and showing that said notice was given as provided in Section 8.2 and, if applicable, Section 8.4. Each copy
shall be signed and verified by the affidavits of the permanent chairman and secretary of the meeting and one such copy shall be delivered to the Company and another to the Trustee to be preserved by the Trustee, the latter to have attached thereto
the ballots voted at the meeting. Any record so signed and verified shall be conclusive evidence of the matters therein stated. 
  
 ARTICLE IX. 
  
 COVENANTS 
  
 SECTION 9.1
PAYMENT OF NOTES. 
  
 (a) The Company shall pay all amounts due
with respect to the Notes on the dates and in the manner provided in this Indenture and the Notes. All such amounts shall be considered paid on the date due if the Paying Agent holds (or, if the Company is acting as Paying Agent, if the Company has
segregated and holds in trust in accordance with Section 2.4) on that date money sufficient to pay the amount then due with respect to the Notes. 
  
 (b) The Company shall pay interest on any overdue amount (including, to the extent permitted by applicable law, overdue interest) at the rate borne by the
Notes. 
  
 SECTION 9.2 MAINTENANCE OF OFFICE OR AGENCY. 
  
 (a) The Company will maintain in the Borough of Manhattan, the City of New
York, an office or agency (which may be an office of the Trustee or an affiliate of the Trustee, Registrar or co-Registrar) where Notes may be surrendered for registration of transfer or exchange or conversion and where notices and demands to or
upon the Company in respect of the Notes and this Indenture may be served. The Company will give prompt written notice to the Trustee of the location, and any change in the location, of such office or agency (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 Corporate Trust Office of the Trustee. 
  
 (b) The Company
may also from time to time designate one or more other offices or agencies where the Notes may be presented or surrendered for any or all such purposes and may from time to time rescind such designations; provided, however, that no
such designation or rescission shall in any manner relieve the Company of its obligation to maintain an office or agency in the Borough of Manhattan, the City of New York for such purposes. The Company will give prompt written notice to the Trustee
of any such designation or rescission and of any change in the location of any such other office or agency. 
  

 31 

 (c) The Company hereby designates the office of the Trustee at 700 S. Flower Street, Suite 500, Los
Angeles, California 90017, Attention: Corporate Trust Department, as an agency of the Company in accordance with Section 2.3. 
  
 SECTION 9.3 REPORTS. 
  
 (a) The Company shall, upon request, provide to any Holder or beneficial owner of Notes or prospective purchaser of Notes that so requests the information
required to be delivered pursuant to Rule 144A(d)(4) until such time as the Notes and the underlying Common Stock have been registered by the Company for resale under the Securities Act pursuant to the Registration Rights Agreement. In addition, the
Company will furnish such Rule 144A(d)(4) information if, at any time while the Notes or the Common Stock issuable upon conversion of the Notes are restricted securities within the meaning of the Securities Act, the Company is not subject to the
informational requirements of the Exchange Act. 
  
 (b) The
Company will comply with the provisions of TIA Section 314(a). 
  
 (c) The Company (at its own expense) will deliver to the Trustee within 15 days after the filing of the same with the SEC, copies of the quarterly and annual reports and of the information, documents and other financial reports, if any,
which the Company may be required to file with the SEC pursuant to Section 13 or 15(d) of the Exchange Act or which the Company furnishes to its shareholders. If the Company is at any time no longer subject to the reporting requirements of Section
13 or 15(d) of the Exchange Act, the Company shall continue to provide the Trustee with such quarterly and annual reports and other financial reports, if any, which the Company furnishes to its shareholders. Delivery of such reports, information and
documents to the Trustee is for informational purposes only and the Trustee’s receipt of such shall not constitute constructive notice of any information contained therein or determinable from information contained therein, including the
Company’s compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on the Officers’ Certificate). 
  
 SECTION 9.4 COMPLIANCE CERTIFICATE. 
  
 The Company shall deliver to the Trustee within 120 days after the end of each fiscal year (beginning with the fiscal year ending on December 31, 2004) of
the Company an Officers’ Certificate stating whether or not the signers know of any Default or Event of Default by the Company in performing any of its obligations under this Indenture or the Notes. If they do know of any such Default or Event
of Default, the certificate shall describe the Default or Event of Default and its status. 
  
 SECTION 9.5 STAY, EXTENSION AND USURY LAWS. 
  
 The Company covenants (to the extent that it may lawfully do so) that it will 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
wherever enacted, now or at any time hereafter in force, which may affect the covenants or the performance of this Indenture; and the Company (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such
law, and covenants that it will not, by resort to any such law, hinder, delay or impede the execution of any power herein granted to the Trustee, but will suffer and permit the execution of every such power as though no such law has been enacted.

  
 SECTION 9.6 CORPORATE EXISTENCE. 
  
 Subject to Article VI, the Company will do or cause to be done all things
necessary to preserve and keep in full force and effect its corporate existence and the corporate existence of each of its Subsidiaries in accordance with the respective organizational documents of each Subsidiary and the rights (charter and
statutory), licenses and franchises of the Company and its Subsidiaries; provided, however, that the Company shall not be required to preserve any such right, license or franchise, or the corporate existence of any Subsidiary, if in
the judgment of its Board of Directors (i) such preservation or existence is not material to the conduct of business of the Company, and (ii) the loss of such right, license or franchise or the dissolution of such Subsidiary does not have a material
adverse impact on the Holders. 
  

 32 

 SECTION 9.7 NOTICE OF DEFAULT. 
  

If any Default or Event of Default shall occur, the Company will give prompt written notice of such Default or Event of Default to the Trustee.

  
 ARTICLE X. 
  
 REDEMPTION OF NOTES 
  
 SECTION 10.1 OPTIONAL REDEMPTION. 
  
 (a) The Company shall not redeem the Notes at any time prior to August 15,
2009. 
  
 (b) On or after August 15, 2009, the Company may, at its
option, redeem the Notes in whole at any time or in part from time to time (an “Optional Redemption”), on any date prior to maturity, upon notice as set forth in Section 10.4(b) at 100% of the principal amount of such Notes (the
“Optional Redemption Price”). 
  
 (c) The Company
shall pay any interest on the Notes called for redemption pursuant to this Section 10.1 (including those Notes which are converted into Common Stock after the date the notice of the redemption is mailed and prior to the Optional Redemption Date)
accrued but not paid to, but excluding, the Optional Redemption Date. Such interest shall be paid to the Holder entitled to the Optional Redemption Price; provided that if the Optional Redemption Date is an Interest Payment Date, the Company shall
pay the interest to the Holder of the Note at the close of business on the corresponding Regular Record Date. 
  
 SECTION 10.2 NOTICE TO TRUSTEE. 
  
 If the Company elects to redeem Notes pursuant to an Optional Redemption (such election to be evidenced by Board Resolutions), it shall notify the Trustee at least 60 days prior to the Optional Redemption Date (unless a shorter notice shall
be satisfactory to the Trustee) of such intended Optional Redemption Date, the principal amount of Notes to be redeemed and the CUSIP numbers of the Notes to be redeemed. 
  
 SECTION 10.3 SELECTION OF NOTES TO BE REDEEMED. 
  
 If fewer than all the Notes are to be redeemed pursuant to an Optional Redemption, the Trustee shall select the particular Notes to be redeemed in
principal amounts of $1,000 or integral multiples thereof from outstanding Notes by a method that complies with the requirements of any exchange on which the Notes are listed, or, if the Notes are not listed on an exchange, on a pro rata basis or by
lot or in accordance with any other method the Trustee considers fair and appropriate. Notes and portions thereof that the Trustee selects shall be in amounts equal to the minimum authorized denominations for Notes to be redeemed or any integral
multiple thereof. 
  
 If any Note selected for partial redemption
pursuant to an Optional Redemption is converted in part before termination of the conversion right with respect to the portion of the Notes so selected, the converted portion of such Note shall be deemed to be the portion selected for redemption;
provided, however, that the Holder of such Note so converted and deemed redeemed shall not be entitled to any Liquidated Damages payment as a result of such deemed redemption than such Holder would have otherwise been entitled to
receive upon conversion of such Note. Notes which have been converted during a selection of Notes to be redeemed pursuant to an Optional Redemption may be treated by the Trustee as outstanding for the purpose of such selection. 
  
 The Trustee shall promptly notify the Company and the Registrar in writing of
the Notes selected for redemption and, in the case of any Notes selected for partial redemption pursuant to an Optional Redemption, the principal amount thereof to be redeemed. 
  
 For all purposes of this Indenture, unless the context otherwise requires, all provisions relating to the redemption of
Notes shall relate, in the case of any Notes redeemed or to be redeemed only in part, to the portion of the principal amount of such Notes which has been or is to be redeemed. 
  

 33 

 SECTION 10.4 NOTICE OF REDEMPTION. 
  
 (a) Notice of an Optional Redemption shall be given in the manner provided in Section 14.2 to the Holders to be redeemed.
Such notice shall be given not less than 30 nor more than 60 days prior to the Optional Redemption Date. All notices of an Optional Redemption shall state: 
  
 (1) the Optional Redemption Date; 
  
 (2) the Optional Redemption Price and interest accrued and unpaid to the Optional Redemption Date, if any; 
  
 (3) if fewer than all the outstanding Notes are to be redeemed, the
aggregate principal amount of Notes to be redeemed and the aggregate principal amount of Notes which will be outstanding after such partial redemption; 
  
 (4) that on the Optional Redemption Date the Optional Redemption Price and, as provided in Section 10.1(c), interest accrued and unpaid to, but excluding,
the Optional Redemption Date, and Liquidated Damages, if any, will become due and payable upon each such Note to be redeemed, and that interest thereon shall cease to accrue on and after such date; 
  
 (5) the Conversion Price then in effect, the date on which the right to
convert the principal of the Notes to be redeemed will terminate and the places where such Notes may be surrendered for conversion; 
  
 (6) the place or places where such Notes are to be surrendered for payment of the Optional Redemption Price and accrued and unpaid interest, if any;

  
 (7) the CUSIP number of the Notes; and 
  
 (8) the last date on which exchanges or transfers of Notes may be made
pursuant to Section 2.6, and shall specify the serial numbers of Notes and the portions thereof called for redemption. 
  
 (b) Notice of redemption of Notes to be redeemed at the election of the Company shall be given by the Company or, at the Company’s request, by the
Trustee in the name of and at the expense of the Company. 
  
 SECTION 10.5 EFFECT
OF NOTICES OF REDEMPTION. 
  
 (a) Notice of redemption having
been given as provided in Section 10.4, the Notes so to be redeemed shall, on the Optional Redemption Date, become due and payable at the Optional Redemption Price therein specified (and, as provided in Section 10.1(c), accrued interest and
Liquidated Damages, if any, to, but excluding, the Optional Redemption Date) and from and after such date (unless the Company shall default in the payment of the Optional Redemption Price and accrued and unpaid interest and Liquidated Damages, if
any) such Notes shall cease to bear interest; provided that the Company may specify in such notice conditions to the redemption of the Notes that must be met on or prior to the Optional Redemption Date, including the receipt of proceeds from
concurrent equity or other financings, in which case the Optional Redemption Date shall not occur, and the Notes to be redeemed shall not be due and payable at the Optional Redemption Price, until such conditions are satisfied. The Company shall
give, or instruct the Trustee to give, notice to the Holders of any failure to satisfy such conditions prior to the Optional Redemption Date. Upon surrender of any such Note for redemption in accordance with such notice (including the satisfaction
of all applicable conditions), such Note shall be paid by the Company at the Optional Redemption Price (and, as provided, in Section 10.1(c), Liquidated Damages and accrued interest, if any, to but excluding the Optional Redemption Date);
provided, however, that the installments of interest on Notes whose stated maturity is prior to or on the Optional Redemption Date shall be payable to the Holders of such Notes, or one or more Predecessor Notes, registered as such on
the relevant Record Date according to their terms and the provisions of Section 2.6. 
  

 34 

 (b) If any Note called for redemption shall not be so paid when due upon surrender thereof for
redemption, the principal and premium, if any, shall, until paid, bear interest from the Optional Redemption Date at the interest rate set forth on the Note. 
  
 SECTION 10.6 DEPOSIT OF OPTIONAL REDEMPTION PRICE. 
  
 Prior to or on any Optional Redemption Date, the Company shall deposit with the Trustee or with a Paying Agent (or, if the Company is acting as its own
Paying Agent, segregate and hold in trust) an amount of money sufficient to pay the Optional Redemption Price of, and accrued and unpaid interest and Liquidated Damages, if any, on, all the Notes to be redeemed on that Optional Redemption Date other
than any Notes called for redemption on that date which have been converted prior to the date of such deposit. 
  
 If any Note called for redemption is converted prior to the Optional Redemption Date, any money deposited with the Trustee or with a Paying Agent or so
segregated and held in trust for the redemption of such Note shall (subject to any right of the Holder of such Note or any Predecessor Note to receive interest as provided in the third paragraph of Section 2.1(c)) be paid to the Company on the
Company’s request or, if then held by the Company, shall be discharged from such trust. 
  
 SECTION 10.7 NOTES REDEEMED IN PART. 
  
 Any Note which is to be redeemed only in part shall be surrendered at an office or agency of the Company designated for that purpose pursuant to Section 9.2 (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 the Holder’s attorney duly authorized in writing), and the Company shall execute, and the Trustee shall authenticate and deliver
to the Holder of such Note without service charge, a new Note or Notes of any authorized denomination as requested by such Holder in aggregate principal amount equal to and in exchange for the unredeemed portion of the principal of the Note so
surrendered. 
  
 ARTICLE XI. 
  
 REPURCHASE OF NOTES 
  
 SECTION 11.1 HOLDER REPURCHASE RIGHT. 
  
 (a) If a Change of Control occurs, each Holder shall have the right (the
“Holder Repurchase Right”), at the Holder’s option, to require the Company to repurchase, and upon the exercise of such right the Company shall repurchase, all of such Holder’s Notes not theretofore called for redemption,
or any portion of the principal amount thereof that is equal to $1,000 or an integral multiple thereof (provided that no single Note may be repurchased in part unless the portion of the principal amount of such Note to be outstanding after such
repurchase is equal to $1,000 or an integral multiple thereof), on a date (the “Holder Repurchase Date”) that is less than 45 days after the date of the Change of Control Notice at a purchase price equal to 100% of the principal
amount of such Notes (the “Holder Repurchase Price”) set forth below, plus interest accrued and unpaid to, but excluding, the Holder Repurchase Date, and the Make Whole Premium, if applicable, as determined in Section 11.1(c).

  
 (b) Notwithstanding the foregoing, installments of interest on
Notes whose stated maturity is prior to or on the Holder Repurchase Date shall be payable to the Holders of such Notes, or one or more Predecessor Notes, registered as such at the close of business on the relevant Record Date according to their
terms and the provisions of Section 2.1. 
  
 (c) If a Change of
Control occurs on or before August 31, 2009, Holders shall be entitled to receive from the Company, upon tender of their Notes to the Company in connection with the exercise of the Holder Repurchase Right or conversion of their Notes during the
Change of Control Conversion Period in accordance with Article XII, the Make Whole Premium, if applicable. The “Change of Control Conversion Period” for a Change of Control is the period commencing on the date 15 days prior to the
anticipated Effective Date for such Change of Control and ending on the Holder Repurchase Date for such Change of Control. The date that a Note is converted during the Change of Control Conversion Period is the “Change of Control Conversion
Date.” The Make Whole Premium will determined as follows: 
  
 (1) “Effective Date” means the date that the Change of Control becomes effective. 
  

 35 

 (2) “Stock Price” means the price paid per share of Common Stock in the Change of
Control transaction, determined as follows: 
  
 (i) if holders
of the Common Stock receive only cash in the Change of Control, the Stock Price shall be the cash amount paid per share of Common Stock; and 
  
 (ii) in all other circumstances, the “Stock Price” shall be the Current Market Price. 
  
 (3) “Make Whole Premium” means the amount per $1,000
principal amount of the Notes equal to: 
  
 (i) if the Effective
Date is after August 31, 2009, $0; 
  
 (ii) If the Stock Price
is less than $8.80 (subject to adjustment in accordance with Section 11.1(g))(the “Stock Price Threshold”), $0; 
  
 (iii) If the Stock Price is more than $69.00 (subject to adjustment in accordance with Section 11.1(g))(the “Stock Price Cap”), $0; and

  
 (iv) Otherwise, the dollar amount equal to the percentage
set forth on the table below (the “Make Whole Premium Table”) for the Stock Price and the Effective Time multiplied by $1,000: 
  

																										
	 Effective Date of Change of Control

	  	Stock Price on Date of Change of Control

	  	$8.80

	  	$10.25

	 	 	$11.25

	 	 	$12.00

	 	 	$13.75

	 	 	$15.50

	 	 	$17.25

	 	 	$34.50

	 	 	$69.00

	 September 1, 2004
	  	0	  	4.8	%	 	10.3	%	 	16.2	%	 	22.8	%	 	19.9	%	 	17.7	%	 	8.3	%	 	0
	 September 1, 2005
	  	0	  	3.8	%	 	9.4	%	 	15.0	%	 	20.9	%	 	18.3	%	 	16.3	%	 	7.0	%	 	0
	 September 1, 2006
	  	0	  	3.0	%	 	8.3	%	 	13.8	%	 	19.1	%	 	16.4	%	 	14.2	%	 	5.5	%	 	0
	 September 1, 2007
	  	0	  	2.4	%	 	7.2	%	 	12.3	%	 	17.1	%	 	14.1	%	 	11.8	%	 	3.9	%	 	0
	 September 1, 2008
	  	0	  	1.6	%	 	5.7	%	 	10.3	%	 	14.0	%	 	10.8	%	 	8.5	%	 	2.2	%	 	0
	 September 1, 2009
	  	0	  	0	 	 	0	 	 	0	 	 	0	 	 	0	 	 	0	 	 	0	 	 	0

  
 If the Stock Price is
between two Stock Price amounts on the Make Whole Premium Table or the Effective Date is between two dates on the Make Whole Premium Table, the Make Whole Premium will be determined by straight-line interpolation between Make Whole Premium
percentages set forth in the Make Whole Premium Table for the higher and the lower Stock Price amounts and the two dates, as applicable, based on a 365 day year. The Stock Prices set forth in the column headers are subject to adjustment pursuant to
Section 11.1(g). 
  

 36 

 (d) The Company will pay the Make Whole Premium in shares of Common Stock or in the same form of
consideration into which all or substantially all of the shares of Common Stock have been converted in connection with the Change of Control. If holders of the Common Stock have the right to elect the form of consideration received in the Change of
Control, then, for purposes of the foregoing, the consideration into which a share of Common Stock has been converted shall be deemed to equal the aggregate consideration distributed in respect of all shares of Common Stock divided by the total
number of shares of Common Stock participating in the distribution. 
  
 (e) The value of the consideration to be delivered in respect of the Make Whole Premium in the case of exercise of the Holder Repurchase Right shall be delivered on the Holder Repurchase Date. The value of the consideration to be delivered
in respect of the Make Whole Premium in the case of exercise of the conversion right under Article XII shall be delivered on the Holder Repurchase Date. The value of the consideration will be calculated as follows: 
  
 (1) securities (including shares of Common Stock) that are traded on a
national securities exchange or quoted primarily on the Nasdaq National Market or any similar system of automated dissemination of quotation of securities prices will be valued based on the average closing sale price on the 10 Trading Days prior to,
but excluding, the Effective Date; 
  
 (2) other securities,
assets or property (other than cash) which holders of the Common Stock will have the right to receive will be valued based on the average of the fair market value of such securities, assets or property (other than cash) as determined by two
independent nationally-recognized investment banks selected by the Company; and 
  
 (3) 100% of any cash which holders of the Common Stock will have the right to receive. 
  
 (f) A calculation agent (the “Calculation Agent”) that the Company appoints from time to time shall, on behalf of and at the request of
the Company and the Trustee, calculate (i) the Stock Price, and (ii) the Make Whole Premium with respect to such Stock Price based on the Effective Date that the Company or the Trustee specify, and shall deliver its calculation of the Stock Price
and the Make Whole Premium to the Company and the Trustee within 3 Business Days of the request by the Company or the Trustee. In addition, the Calculation Agent, on behalf of and upon request by the Company and the Trustee, no less than three
Business Days prior to a Change of Control Notice in respect of a Change of Control occurring on or before August 31, 2009, shall make the determinations described above in this Section 11.1 and deliver its calculations to the Company and the
Trustee by 9:00 p.m., New York City time, on the day prior to the date that the Change of Control Notice is given. The Company initially appoints the Trustee as the Calculation Agent. 
  
 (g) Whenever the Conversion Rate is adjusted from time to time in accordance with Section 12.4, the Stock Price Threshold,
the Stock Price Cap and each of the Stock Prices set forth in the Make Whole Premium Table shall be adjusted by multiplying each such amount by a fraction, the numerator of which is the Conversion Rate immediately prior to such adjustment and the
denominator of which is the Conversion Rate as so adjusted. 
  
 SECTION 11.2
NOTICES; METHOD OF EXERCISING HOLDER REPURCHASE RIGHT, ETC. 
  
 (a) Unless the Company shall have theretofore called for redemption all of the outstanding Notes, within 30 days after the Company becomes aware of the occurrence of a Change of Control, the Company, or, at the written request and expense
of the Company within 30 days after the Company becomes aware of such occurrence, the Trustee, shall give to all Holders notice, in the manner provided in Section 14.2, of the occurrence of the Change of Control and of the Holder Repurchase Right
arising as a result thereof (the “Change of Control Notice”). The Company shall also deliver a copy of such notice of a Holder Repurchase Right to the Trustee. Each Change of Control Notice shall state: 
  
 (1) the Holder Repurchase Date; 
  
 (2) the date by which the Holder Repurchase Right must be exercised;

  

 37 

 (3) the Holder Repurchase Price and accrued and unpaid interest, if any; 
  
 (4) the Make Whole Premium, if applicable, and the form in which the Company
has elected to pay the Make Whole Premium; 
  
 (5) a description
of the procedure which a Holder must follow to exercise a Holder Repurchase Right, and the place or places where such Notes are to be surrendered for payment of the Holder Repurchase Price, accrued and unpaid interest, Liquidated Damages, if any,
and the Make Whole Premium, if applicable; 
  
 (6) that on the
Holder Repurchase Date the Holder Repurchase Price, accrued and unpaid interest, Liquidated Damages, if any, and the Make Whole Premium, if applicable, will become due and payable upon each such Note designated by the Holder to be repurchased, and
that interest thereon shall cease to accrue on and after said date; 
  
 (7) if the Make Whole Premium is applicable, that the Make Whole Premium is payable upon conversion of each Note that the Holder elects to convert during the Change of Control Conversion Period and a description of the Change of Control
Conversion Period; 
  
 (8) the Conversion Price then in effect,
the date on which the right to convert the principal of the Notes will terminate and that accrued and unpaid interest on the Notes is forfeited upon conversion; 
  

(9) the offer to repurchase the Notes will terminate on the Holder Repurchase Date and the place where such Notes may be surrendered for conversion;
and 
  
 (10) the place or places where such Notes, together with
the Option to Elect Repayment Upon a Change of Control certificate included in Exhibit A annexed hereto, are to be delivered for payment of the Holder Repurchase Price, accrued and unpaid interest, Liquidated Damages, if any, and the Make
Whole Premium, if applicable. 
  
 No failure of the Company to
give the foregoing notices or defect therein shall affect any Holder’s right to exercise a Holder Repurchase Right or affect the validity of the proceedings for the repurchase of Notes. 
  
 If any of the foregoing provisions or other provisions of this Article XI are
inconsistent with applicable law, such law shall govern. 
  
 (b)
To exercise a Holder Repurchase Right, a Holder shall deliver to the Trustee prior to or on the Business Day prior to the Holder Repurchase Date: 
  
 (1) written notice of the Holder’s exercise of such right, which notice shall set forth the name of the Holder, the principal amount of the Notes to
be repurchased (and, if any Note is to be repurchased in part, the serial number thereof and the portion of the principal amount thereof to be repurchased) and a statement that an election to exercise the Holder Repurchase Right is being made
thereby, and 
  
 (2) the Notes with respect to which the Holder
Repurchase Right is being exercised. 
  
 Such written notice shall
be irrevocable, except that the right of the Holder to convert the Notes with respect to which the Holder Repurchase Right is being exercised shall continue until the close of business on the Business Day immediately preceding the Holder Repurchase
Date. The Company shall not pay accrued and unpaid interest on any Notes so converted except as provided in Section 12.2. 
  
 (c) If a Holder Repurchase Right is exercised in accordance with the terms hereof, the Company shall pay or cause to be paid to the Trustee the Holder
Repurchase Price in cash as provided above, for payment to the Holder on the Holder Repurchase Date, together with Liquidated Damages, if any, and accrued and unpaid interest to the Holder Repurchase Date, and the Make Whole Premium, if applicable,
payable in form of consideration that 
  

 38 

 the Company has elected with respect to the Notes as to which the Holder Repurchase Right has been exercised;
provided, however, that installments of interest that mature prior to or on the Holder Repurchase Date shall be payable to the Holders of such Notes, or one or more Predecessor Notes, registered as such at the close of business on the
relevant Regular Record Date according to their terms and the provisions of Section 2.1. 
  
 (d) If any Note (or portion thereof) surrendered for repurchase shall not be paid on the Holder Repurchase Date, the principal amount of such Note (or portion thereof, as the case may be) shall, until paid, bear
interest to the extent permitted by applicable law from the Holder Repurchase Date at the interest rate, and each Note shall remain convertible into Common Stock until the principal of such Note (or portion thereof, as the case may be) shall have
been paid or duly provided for. 
  
 (e) Any Note which is to be
repurchased only in part shall be surrendered to the Trustee (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 his attorney duly authorized in writing), and the Company shall execute, and the Trustee shall authenticate and make available for delivery to the Holder of such Note without service charge, a new Note or Notes, containing identical terms
and conditions, each in an authorized denomination in aggregate principal amount equal to and in exchange for the unrepurchased portion of the principal of the Note so surrendered. 
  
 (f) All Notes delivered for repurchase shall be delivered to the Trustee to be canceled at the direction of the Trustee,
which shall dispose of the same as provided in Section 2.11. 
  
 SECTION 11.3
PURCHASE AT OPTION OF HOLDER ON PURCHASE DATE. 
  
 (a) At the
option of the Holder (the “Purchase Option”), the Company shall purchase such Holder’s Note or Notes on August 15, 2009, August 15, 2014 or August 15, 2019 (each a “Purchase Date”), in whole or in part, at 100%
of the principal amount in cash or, at the Company’s election, in Common Stock or any combination of cash and Common Stock, subject to the requirements of Section 11.3(d), on the Purchase Date of such Notes to be purchased, together with
accrued and unpaid interest and Liquidated Damages, if any, to, but excluding the relevant Purchase Date (the “Purchase Price”) upon delivery to the Trustee by the Holder of a written notice of purchase (a “Purchase
Notice”) at any time from the opening of business on the date that is 20 Business Days prior to the Purchase Date until the close of business on the Purchase Date. The Purchase Notice shall include the following information: 
  
 (1) the principal amount of the Notes to be purchased, which must be $1,000
or an integral multiple thereof (and, if any Note is to be repurchased in part, the serial number thereof and the portion of the principal amount thereof to be repurchased), and 
  
 (2) that such Notes are to be purchased by the Company as of the Purchase Date pursuant to the terms and conditions
specified in the Notes and this Indenture. 
  
 A Purchase Notice
shall be irrevocable, except that the right of the Holder to convert the Notes with respect to which the Purchase Option is being exercised shall continue until the close of business on the Business Day immediately preceding the Purchase Date. The
Company shall not pay accrued and unpaid interest on any Notes so converted except as provided in Section 12.2. 
  
 The Trustee shall promptly notify the Company of its receipt of a Purchase Notice. 
  
 Any purchase by the Company contemplated pursuant to this Section 11.3 shall be consummated by the Company delivering to the
Trustee the consideration that the Holder is to receive promptly following the later of the Purchase Date and the time of delivery of the Note or Notes. 
  
 If the Trustee holds money and/or Common Stock sufficient to pay the Purchase Price of the Notes on the Business Day following the Purchase Date in
accordance with the terms of this Indenture, then, immediately after the Purchase Date, the Notes will cease to be outstanding whether or not the Notes have been delivered to the Trustee. Thereafter, all other rights of the Holders with respect to
such Notes shall terminate, other than the right to receive the Purchase Price upon delivery of the Notes. 
  

 39 

 Provisions of this Indenture that apply to the purchase of all of a Note also apply to the purchase of a
portion of a Note. 
  
 (b) The Company or the Trustee, at the
Company’s request, shall give notice (the “Notice of Optional Repurchase”) to the Holders, in the manner specified in Section 14.2, on a date that is no less than 20 Business Days prior to the Purchase Date. The Company, if it
gives the notice, shall also deliver a copy of it to the Trustee. Each Notice of Optional Repurchase shall include the following information: 
  
 (1) the Purchase Date; 
  
 (2) the date by which the Purchase Option must be exercised; 
  
 (3) the Purchase Price and the manner of payment for the Purchase Price that the Company has selected; 
  
 (4) a description of the procedure which a Holder must follow to exercise a
Purchase Option, and the place or places where the Holder’s Note or Notes are to be surrendered for payment of the Purchase Price; 
  
 (5) that on the Purchase Date the Purchase Price will become due and payable upon each such Note designated by the Holder to be purchased, and that
interest thereon shall cease to accrue on and after said date; 
  
 (6) the Conversion Price then in effect, the date on which the right to convert the principal of the Notes will terminate and that accrued and unpaid interest on the Notes is forfeited upon conversion; and 
  
 (7) the place or places where such Notes, together with the Purchase Notice,
are to be delivered for payment of the Purchase Price. 
  
 No
failure by the Company to give the foregoing notices or defects therein shall affect any Holder’s right to exercise a Purchase Option or affect the validity of the proceedings for the repurchase of Notes pursuant to the Purchase Option.

  
 (c) A Holder that delivers a Purchase Notice to the Trustee
shall have the right to withdraw such Purchase Notice at any time prior to the close of business on the Purchase Date by delivering to the Trustee a written notice of withdrawal (a “Withdrawal Notice”). The Written Notice shall
indicate the following: 
  
 (1) the principal amount of the Note
or Notes being withdrawn; and 
  
 (2) the principal amount of the
Note or Notes that remains subject to the Purchase Notice. 
  
 The
Trustee shall promptly notify the Company of its receipt of any Withdrawal Notice. 
  
 (d) If the Company elects to pay all or any portion of the Purchase Price in Common Stock, the number of shares of Common Stock to be paid shall equal the quotient obtained by dividing (i) the portion of the Purchase
Price to be paid in shares of Common Stock by (ii) 97.5% of the average Closing Price of shares of Common Stock for the ten Trading Day period immediately preceding but ending on the second Business Day immediately preceding the Purchase Date,
appropriately adjusted to take into account the occurrence, during the period commencing on the first of the Trading Days during the five Trading Day period and ending on the Purchase Date, of any event described in Section 12.4, subject to the next
succeeding paragraph. The Company shall designate, in the Notice of Optional Repurchase delivered pursuant to Section 11.3(b), whether it will repurchase the notes for cash or Common Stock, or, if a combination thereof, the percentage of the
Purchase Price in respect of which it will pay in cash or Common Stock; provided that the Company shall pay cash for fractional interests in 
  

 40 

 shares of Common Stock. For purposes of determining the existence of potential fractional interests, all Notes subject to
repurchase by the Company held by a Holder shall be considered together (no matter how many separate certificates are to be presented). Each Holder whose Note or Notes are repurchased pursuant to this Section 11.3 shall receive the same percentage
of cash or Common Stock in payment of the Purchase Price for such Note or Notes, except with respect to the payment of cash in lieu of fractional shares of Common Stock. The Company may not change its election with respect to the consideration (or
components or percentages of components thereof) to be paid once the Company has given its Notice of Optional Repurchase to Holders, except as set forth in the next succeeding paragraph in the event of a failure to satisfy, prior to the close of
business on the Business Day prior to the Purchase Date, any condition to the payment of the Purchase Price, in whole or in part, in Common Stock. 
  
 (e) The Company’s right to exercise its election to repurchase Notes through the issuance of shares of Common Stock shall be conditioned upon:

  
 (1) The Company giving a timely Notice of Optional Repurchase
containing an election to purchase all or a specified percentage of the Notes with shares of Common Stock as provided herein; 
  
 (2) the registration of such shares of Common Stock under the Securities Act or the Exchange Act, if required; 
  
 (3) the listing of such shares of Common Stock on a United States national
securities exchange or the quotation of such shares in an inter-dealer quotation system of any registered United States national securities association, in each case, if the Common Stock is then listed on a national securities exchange or quoted in
an inter-dealer quotation system; 
  
 (4) any necessary
qualification or registration of such shares of Common Stock under applicable state securities laws or the availability of an exemption from such qualification or exemption; and 
  
 (5) the Trustee’s receipt of (i) an Officers’ Certificate stating that the terms of the issuance of the shares of
Common Stock are in conformity with this Indenture and that the conditions to the issuance of the shares of Common Stock have been satisfied, and (ii) an Opinion of Counsel to the effect that the shares of Common Stock that the Company is to issue
in payment of the Purchase Price have been duly authorized and, when issued and delivered pursuant to the terms of this Indenture in payment of the Purchase Price in respect to the Notes, will be validly issued, fully paid and non-assessable.

  
 Such Officers’ Certificate shall also set forth the
number of shares of Common Stock to be issued for each $1,000 principal amount of Notes and the Closing Price of a share of Common Stock on each Trading Day during the period commencing on the fifth Trading Day immediately preceding but ending on
the second Business Day prior to the applicable Purchase Date. If the foregoing conditions are not satisfied prior to the close of business on the Business Day immediately preceding the Purchase Date and the Company has elected to repurchase the
Notes through the issuance of shares of Common Stock, the Company shall pay the entire Purchase Price in cash. 
  
 Promptly after determining the actual number of shares of Common Stock to be issued upon repurchase of the Notes, the Company shall be required to deliver
notice to all Holders, in the manner provided in Section 14.2, of such information. 
  
 All shares of Common Stock delivered upon repurchase of Notes shall be duly authorized, validly issued, fully paid and non-assessable. 
  

 41 

 ARTICLE XII. 
  
 CONVERSION OF NOTES 
  
 SECTION 12.1 CONVERSION RIGHT AND CONVERSION PRICE. 
  
 Subject to and upon compliance with the provisions of this Article XII, at the option of the Holder thereof, any outstanding Note or any portion of the
principal amount thereof which is $1,000 or an integral multiple of $1,000 may be converted into duly authorized, fully paid and nonassessable Common Stock, at the Conversion Price, determined as hereinafter provided, in effect at the time of
conversion. Such conversion right shall expire at the close of business on the Business Day immediately preceding August 15, 2024, unless the Notes or a portion thereof are called for redemption or are repurchased. 
  
 In case a Note or portion thereof is called for repurchase or redemption,
such conversion right in respect of the Note or the portion so called, shall expire at the close of business on the Business Day immediately preceding the Holder Repurchase Date or the Optional Redemption Date, as applicable, unless the Company
defaults in making the payment due upon such repurchase or redemption, as applicable. In the case of a Change of Control for which the Holder exercises its Holder Repurchase Right with respect to a Note or portion thereof, such conversion right in
respect of the Note or portion thereof shall expire at the close of business on the Business Day immediately preceding the Holder Repurchase Date. 
  
 The rate at which Common Stock shall be delivered upon conversion (the “Conversion Rate”) shall be initially equal to 77.04 shares per
$1,000 principal amount of Notes. The conversion price of the Notes (the “Conversion Price”) shall equal $1,000 divided by the Conversion Rate (rounded to the nearest cent). The Conversion Price shall be adjusted in certain
instances as provided in Section 12.4. 
  
 SECTION 12.2 EXERCISE OF CONVERSION RIGHT. 
  
 To
exercise the conversion right, the Holder of any Note to be converted shall surrender such Note duly endorsed or assigned to the Company or in blank, at the office of any Conversion Agent, accompanied by a duly signed conversion notice substantially
in the form attached as Annex A to each Note (the “Conversion Notice”) to the Company stating that the Holder elects to convert such Note or, if less than the entire principal amount thereof is to be converted, the portion thereof
to be converted. 
  
 To the extent provided in Section 2.1, Notes
surrendered for conversion during the period from the close of business on any Regular Record Date to the opening of business on the next succeeding Interest Payment Date (except in the case of any Note whose maturity is prior to such Interest
Payment Date) shall be accompanied by payment in New York Clearing House funds or other funds acceptable to the Company of an amount equal to the interest and Liquidated Damages, if any, to be received on such Interest Payment Date on the principal
amount of Notes being surrendered for conversion, as well as any taxes or duties payable pursuant to Section 12.8. To the extent provided in Section 2.1, Notes which have been called for redemption by the Company in a notice of redemption pursuant
to Section 10.4, and are converted prior to redemption or repurchase, shall not require such concurrent payment to the Company upon surrender for conversion, if such Holder’s conversion right would terminate because of the redemption or
repurchase between the Regular Record Date and the close of business on the second Business Day following the next succeeding Interest Payment Date and if converted during the time period set forth in this sentence, the Holders of such converted
Notes shall be entitled to receive (and retain) any accrued interest on the principal of such surrendered Notes, and Liquidated Damages, if any. 
  
 Notes shall be deemed to have been converted immediately prior to the close of business on the day of surrender of such Notes for conversion in accordance
with the foregoing provisions, and at such time the rights of the Holders of such Notes as Holders shall cease, and the Person or Persons entitled to receive the Common Stock issuable upon conversion shall be treated for all purposes as the record
holder or holders of such Common Stock at such time. As promptly as practicable on or after the conversion date, the Company shall cause to be issued and delivered to such Conversion Agent a certificate or certificates for the number of full Common
Stock issuable upon conversion, together with payment in lieu of any fraction of a share as provided in Section 12.3. 
  

 42 

 In the case of any Note which is converted in part only, upon such conversion the Company shall execute
and the Trustee shall authenticate and deliver to the Holder thereof, at the expense of the Company, a new Note or Notes of authorized denominations in aggregate principal amount equal to the unconverted portion of the principal amount of such Note.

  
 If Common Stock to be issued upon conversion of a Restricted
Security, or Notes to be issued upon conversion of a Restricted Security in part only, are to be registered in a name other than that of the Holder of such Restricted Security, such Holder must deliver to the Conversion Agent a Conversion Notice,
dated the date of surrender of such Restricted Security and signed by such Holder, as to compliance with the restrictions on transfer applicable to such Restricted Security. Neither the Trustee nor any Conversion Agent, Registrar or Transfer Agent
shall be required to register in a name other than that of the Holder of Common Stock or Notes issued upon conversion of any Restricted Security not so accompanied by a properly completed certificate. 
  
 The Company hereby initially appoints the Trustee as the Conversion Agent.

  
 SECTION 12.3 FRACTIONS OF SHARES. 

 
 No fractional Common Stock shall be issued upon conversion of any Note or
Notes. If more than one Note shall be surrendered for conversion at one time by the same Holder, the number of full shares which shall be issued upon conversion thereof shall be computed on the basis of the aggregate principal amount of the Notes
(or specified portions thereof) so surrendered. Instead of any fractional Common Stock which would otherwise be issued upon conversion of any Note or Notes (or specified portions thereof), the Company shall pay a cash adjustment in respect of such
fraction (calculated to the nearest one-100th of a share) in an amount equal to the same fraction of the Closing Price of the Common Stock as of the Trading Day preceding the date of conversion. 
  
 SECTION 12.4 ADJUSTMENT OF CONVERSION PRICE. 
  
 The Conversion Price shall be subject to adjustments, calculated by the
Company from time to time as follows: 
  
 (a) In case the Company
shall hereafter pay a dividend or make a distribution to all holders of the outstanding Common Stock in Common Stock, the Conversion Price in effect at the opening of business on the date following the date fixed for the determination of
shareholders entitled to receive such dividend or other distribution shall be reduced by multiplying such Conversion Price by a fraction: 
  
 (i) the numerator of which shall be the number of Common Stock outstanding at the close of business on the Record Date (as defined in Section 12.4(g))
fixed for such determination, and 
  
 (ii) the denominator of
which shall be the sum of such number of shares and the total number of shares constituting such dividend or other distribution. 
  
 Such reduction shall become effective immediately after the opening of business on the day following the Record Date. If any dividend or distribution of
the type described in this Section 12.4(a) is declared but not so paid or made, the Conversion Price shall again be adjusted to the Conversion Price which would then be in effect if such dividend or distribution had not been declared. 
  
 (b) In case the outstanding Common Stock shall be subdivided into a greater
number of Common Stock, the Conversion Price in effect at the opening of business on the day following the day upon which such subdivision becomes effective shall be proportionately reduced, and conversely, in case outstanding Common Stock shall be
combined into a smaller number of Common Stock, the Conversion Price in effect at the opening of business on the day following the day upon which such combination becomes effective shall be proportionately increased, such reduction or increase, as
the case may be, to become effective immediately after the opening of business on the day following the day upon which such subdivision or combination becomes effective. 
  

 43 

 (c) In case the Company shall issue rights or warrants (other than any rights or warrants referred to in
Section 12.4(d)) to all holders of its outstanding Common Stock entitling them to subscribe for or purchase of Common Stock (or securities convertible into Common Stock) at a price per share (or having a conversion price per share) less than the
Current Market Price (as defined in Section 12.4(g)) on the Record Date fixed for the determination of shareholders entitled to receive such rights or warrants, the Conversion Price shall be adjusted so that the same shall equal the price determined
by multiplying the Conversion Price in effect at the opening of business on the date after such Record Date by a fraction: 
  
 (i) the numerator of which shall be the number of Common Stock outstanding at the close of business on the Record Date plus the number of shares which the
aggregate offering price of the total number of shares so offered for subscription or purchase (or the aggregate conversion price of the convertible securities so offered) would purchase at such Current Market Price, and 
  
 (ii) the denominator of which shall be the number of Common Stock outstanding
on the close of business on the Record Date plus the total number of additional Common Stock so offered for subscription or purchase (or into which the convertible securities so offered are convertible). 
  
 Such adjustment shall become effective immediately after the opening of
business on the day following the Record Date fixed for determination of shareholders entitled to receive such rights or warrants. To the extent that Common Stock (or securities convertible into Common Stock) are not delivered pursuant to such
rights or warrants, upon the expiration or termination of such rights or warrants the Conversion Price shall be readjusted to the Conversion Price which would then be in effect had the adjustments made upon the issuance of such rights or warrants
been made on the basis of the delivery of only the number of Common Stock (or securities convertible into Common Stock) actually delivered. If such rights or warrants are not so issued, the Conversion Price shall again be adjusted to be the
Conversion Price which would then be in effect if such date fixed for the determination of shareholders entitled to receive such rights or warrants had not been fixed. In determining whether any rights or warrants entitle the holders to subscribe
for or purchase Common Stock at less than such Current Market Price, and in determining the aggregate offering price of such Common Stock, there shall be taken into account any consideration received for such rights or warrants, the value of such
consideration if other than cash, to be determined by the Board of Directors. 
  
 (d) If the Company shall, by dividend or otherwise, distribute to all holders of its Common Stock of any class of Capital Shares of the Company (other than any dividends or distributions to which Section 12.4(a)
applies) or evidences of its indebtedness or other assets, including securities, but excluding (1) any rights or warrants referred to in Section 12.4(c), (2) any stock, securities or other property or assets (including cash) distributed as dividends
or distributions in connection with a reclassification, change, merger, combination, sale, conveyance, consolidation or statutory share exchange to which Section 12.11 applies and (3) any dividends or distributions paid exclusively in cash (the
securities described in foregoing are hereinafter in this Section 12.4(d) called the “securities”), then, in each such case, subject to the second succeeding paragraph of this Section 12.4(d), the Conversion Price shall be reduced
so that the same shall be equal to the price determined by multiplying the Conversion Price in effect immediately prior to the close of business on the Record Date (as defined in Section 12.4(g)) with respect to such distribution by a fraction:

  
 (i) the numerator of which shall be the Current Market Price
(determined as provided in Section 12.4(g)) on such date less the fair market value (as determined by the Board of Directors, whose determination shall be conclusive and set forth in a Board Resolution) on such date of the portion of the securities
so distributed applicable to one Share of Common Stock (determined on the basis of the number of shares of Common Stock outstanding on the Record Date), and 
  
 (ii) the denominator of which shall be such Current Market Price. 
  

Such reduction shall become effective immediately prior to the opening of business on the day following the Record Date. However, if the then fair
market value (as so determined) of the portion of the securities so distributed applicable to one Share of Common Stock is equal to or greater than the Current Market Price on the Record Date, in lieu of the foregoing adjustment, adequate provision
shall be made so that each Holder shall have the right to receive upon conversion of a Note (or any portion thereof) the amount of securities such Holder would 
  

 44 

 have received had such Holder converted such Note (or portion thereof) immediately prior to such Record Date. If such
dividend or distribution is not so paid or made, the Conversion Price shall again be adjusted to be the Conversion Price which would then be in effect if such dividend or distribution had not been declared. 
  
 If the Board of Directors determines the fair market value of any
distribution for purposes of this Section 12.4(d) by reference to the actual or when issued trading market for any securities comprising all or part of such distribution, it must in doing so consider the prices in such market over the same period
(the “Reference Period”) used in computing the Current Market Price pursuant to Section 12.4(g) to the extent possible, unless the Board of Directors in a Board Resolution determines in good faith that determining the fair market
value during the Reference Period would not be in the best interest of the Holder. 
  
 Rights or warrants distributed by the Company to all holders of Common Stock entitling the holders thereof to subscribe for or purchase the Company’s Capital Shares (either initially or under certain
circumstances), which rights or warrants, until the occurrence of a specified event or events (a “Trigger Event”): 
  
 (1) are deemed to be transferred with such Common Stock; 
  
 (2) are not exercisable; and 
  
 (3) are also issued in respect of future issuances of Common Stock, 
  
 shall be deemed not to have been distributed for purposes of this Section 12.4(d) (and no adjustment to the Conversion Price under this
Section 12.4(d) will be required) until the occurrence of the earliest Trigger Event. If such right or warrant is subject to subsequent events, upon the occurrence of which such right or warrant shall become exercisable to purchase different
securities, evidences of indebtedness or other assets or entitle the holder to purchase a different number or amount of the foregoing or to purchase any of the foregoing at a different purchase price, then the occurrence of each such event shall be
deemed to be the date of issuance and record date with respect to a new right or warrant (and a termination or expiration of the existing right or warrant without exercise by the holder thereof). In addition, in the event of any distribution (or
deemed distribution) of rights or warrants, or any Trigger Event or other event (of the type described in the preceding sentence) with respect thereto, that resulted in an adjustment to the Conversion Price under this Section 12.4(d): (i) in the
case of any such rights or warrants which shall all have been redeemed or repurchased without exercise by any holders thereof, the Conversion Price shall be readjusted upon such final redemption or repurchase to give effect to such distribution or
Trigger Event, as the case may be, as though it were a cash distribution, equal to the per share redemption or repurchase price received by a holder of Common Stock with respect to such rights or warrant (assuming such holder had retained such
rights or warrants), made to all holders of Common Stock as of the date of such redemption or repurchase, and (ii) in the case of such rights or warrants all of which shall have expired or been terminated without exercise, the Conversion Price shall
be readjusted as if such rights and warrants had never been issued. 
  
 For purposes of this Section 12.4(d) and Sections 12.4(a), 12.4(b) and 12.4(c), any dividend or distribution to which this Section 12.4(d) is applicable that also includes Common Stock, a subdivision or combination of Common Stock to which
Section 12.4(c) applies, or rights or warrants to subscribe for or purchase Common Stock to which Section 12.4(c) applies (or any combination thereof), shall be deemed instead to be: 
  
 (1) a dividend or distribution of the evidences of indebtedness, assets, shares of capital stock, rights or warrants other
than such Common Stock, such subdivision or combination or such rights or warrants to which Sections 12.4(a), 12.4(b) and 12.4(c) apply, respectively (and any Conversion Price reduction required by this Section 12.4(d) with respect to such dividend
or distribution shall then be made), immediately followed by 
  
 (2) a dividend or distribution of such Common Stock, such subdivision or combination or such rights or warrants (and any further Conversion Price reduction required by Sections 12.4(a), 12.4(b) and 12.4(c) with respect to such dividend or
distribution shall then be made), except: 
  
 (A) the Record Date
of such dividend or distribution shall be substituted as (x) “the date fixed for the determination of shareholders entitled to receive such dividend or other distribution,” “Record Date fixed for 
  

 45 

 such determinations” and “Record Date” within the meaning of Section 12.4(a), (y) “the day upon which
such subdivision becomes effective” and “the day upon which such combination becomes effective” within the meaning of Section 12.4(b), and (z) “the date fixed for the determination of shareholders entitled to receive such rights
or warrants,” “the Record Date fixed for the determination of the shareholders entitled to receive such rights or warrants” and “such Record Date” within the meaning of Section 12.4(c), and 
  
 (B) any Common Stock included in such dividend or distribution shall not be
deemed “outstanding at the close of business on the date fixed for such determination” within the meaning of Section 12.4(a) and any reduction or increase in the number of Common Stock resulting from such subdivision or combination shall
be disregarded in connection with such dividend or distribution. 
  
 (e) If the Company shall, by dividend or otherwise, distribute to all holders of its Common Stock cash (excluding any cash that is distributed upon a reclassification, change, merger, combination, sale, conveyance, consolidation or
statutory share exchange to which Section 12.11 applies or as part of a distribution referred to in Section 12.4(d)), then and in each such case, immediately after the close of business on the Record Date of such distribution, the Conversion Price
shall be reduced so that the same shall equal the price determined by multiplying the Conversion Price in effect immediately prior to the close of business on such Record Date by a fraction: 
  
 (i) the numerator of which shall be equal to the Current Market Price on the
Record Date less an amount equal to the quotient of (x) such amount of cash and (y) the number of Common Stock outstanding on the Record Date, and 
  
 (ii) the denominator of which shall be equal to the Current Market Price on such date. 
  
 However, if the then fair market value (as determined by the Board of Directors, whose determination shall be conclusive and
set forth in a Board Resolution ) of the portion of the securities so distributed applicable to one Share of Common Stock is equal to or greater than the Current Market Price on the Record Date, in lieu of the foregoing adjustment, adequate
provision shall be made so that each Holder shall have the right to receive upon conversion of a Note (or any portion thereof) the amount of cash such Holder would have received had such Holder converted such Note (or portion thereof) immediately
prior to such Record Date. If such dividend or distribution is not so paid or made, the Conversion Price shall again be adjusted to be the Conversion Price which would then be in effect if such dividend or distribution had not been declared.

  
 (f) In case a tender or exchange offer made by the Company or
any of its Subsidiaries to all holders of Common Stock for all or any portion of the Common Stock shall expire and such tender or exchange offer (as amended upon the expiration thereof) shall require the payment to shareholders (based on the
acceptance (up to any maximum specified in the terms of the tender or exchange offer) of Purchased Shares (as defined below)) of an aggregate consideration having a fair market value (as determined by the Board of Directors, whose determination
shall be conclusive and set forth in a Board Resolution ), as of the expiration of such tender or exchange offer that, combined together with the aggregate of the cash plus the fair market value (as determined by the Board of Directors, whose
determination shall be conclusive and set forth in a Board Resolution ), as of the expiration of such tender or exchange offer, of consideration payable in respect of any other tender or exchange offers, made by the Company or any of its
Subsidiaries to all holders of Common Stock for all or any portion of the Common Stock expiring within the 12 months preceding the expiration of such tender or exchange offer and in respect of which no adjustment pursuant to this Section 12.4(f) has
been made, exceeds 5% of the product of the Current Market Price (determined as provided in Section 12.4(g)) as of the last time (the “Expiration Time”) tenders or exchanges could have been made pursuant to such tender or exchange
offer (as it may be amended) times the number of Common Stock outstanding (including any tendered or exchanged shares) on the Expiration Time, then, and in each such case, immediately prior to the opening of business on the day after the date of the
Expiration Time, the Conversion Price shall be adjusted so that the same shall equal the price determined by multiplying the Conversion Price in effect immediately prior to close of business on the date of the Expiration Time by a fraction:

  
 (i) the numerator of which shall be the number of Common
Stock outstanding (including any tendered or exchanged shares) at the Expiration Time multiplied by the Current Market Price on the Trading Day next succeeding the Expiration Time, and 
  

 46 

 (ii) the denominator shall be the sum of (x) the fair market value (determined as aforesaid) of the
aggregate consideration payable to shareholders based on the acceptance (up to any maximum specified in the terms of the tender or exchange offer) of all shares validly tendered or exchanged and not withdrawn as of the Expiration Time (the shares
deemed so accepted, up to any such maximum, being referred to as the “Purchased Shares”) and (y) the product of the number of Common Stock outstanding (less any Purchased Shares) on the Expiration Time and the Current Market Price
on the Trading Day next succeeding the Expiration Time. 
  
 Such
reduction (if any) shall become effective immediately prior to the opening of business on the day following the Expiration Time. If the Company is obligated to purchase shares pursuant to any such tender or exchange offer, but the Company is
permanently prevented by applicable law from effecting any such purchases or all such purchases are rescinded, the Conversion Price shall again be adjusted to be the Conversion Price which would then be in effect if such tender or exchange offer had
not been made. If the application of this Section 12.4(f) to any tender or exchange offer would result in an increase in the Conversion Price, no adjustment shall be made for such tender or exchange offer under this Section 12.4(f). 
  
 (g) For purposes of this Section 12.4, the following terms shall have the
meanings indicated: 
  
 (1) “Current Market
Price” shall mean the average of the daily Closing Prices per Share of Common Stock for the ten consecutive Trading Days immediately prior to the date in question; provided, however, that if: 
  
 (i) the “ex” date (as hereinafter defined) for any event (other
than the issuance or distribution requiring such computation) that requires an adjustment to the Conversion Price pursuant to Section 12.4(a), (b), (c), (d), (e) or (f) occurs during such ten consecutive Trading Days, the Closing Price for each
Trading Day prior to the “ex” date for such other event shall be adjusted by multiplying such Closing Price by the same fraction by which the Conversion Price is so required to be adjusted as a result of such other event; 
  
 (ii) the “ex” date for any event (other than the issuance or
distribution requiring such computation) that requires an adjustment to the Conversion Price pursuant to Section 12.4(a), (b), (c), (d), (e) or (f) occurs on or after the “ex” date for the issuance or distribution requiring such
computation and prior to the day in question, the Closing Price for each Trading Day on and after the “ex” date for such other event shall be adjusted by multiplying such Closing Price by the reciprocal of the fraction by which the
Conversion Price is so required to be adjusted as a result of such other event; and 
  
 (iii) the “ex” date for the issuance or distribution requiring such computation is prior to the day in question, after taking into account any adjustment required pursuant to clause (i) or (ii) of this
proviso, the Closing Price for each Trading Day on or after such “ex” date shall be adjusted by adding thereto the amount of any cash and the fair market value (as determined by the Board of Directors in a manner consistent with any
determination of such value for purposes of Section 12.4(d) or (f), whose determination shall be conclusive and set forth in a Board Resolution ) of the evidences of indebtedness, shares of capital stock or assets being distributed applicable to one
Share of Common Stock as of the close of business on the day before such “ex” date. 
  
 For purposes of any computation under Section 12.4(f), the Current Market Price on any date shall be deemed to be the average of the daily Closing Prices per Share of Common Stock for such day and the next two
succeeding Trading Days; provided, however, that if the “ex” date for any event (other than the tender or exchange offer requiring such computation) that requires an adjustment to the Conversion Price pursuant to Section
12.4(a), (b), (c), (d), (e) or (f) occurs on or after the Expiration Time for the tender or exchange offer requiring such computation and prior to the day in question, the Closing Price for each Trading Day on and after the “ex” date for
such other event shall be adjusted by multiplying such Closing Price by the reciprocal of the fraction by which the Conversion Price is so required to be adjusted as a result of such other event. For purposes of this paragraph, the term
“ex” date, when used: 
  
 (A) with respect to any
issuance or distribution, means the first date on which the Common Stock trade regular way on the relevant exchange or in the relevant market from which the Closing Price was obtained without the right to receive such issuance or distribution;

  

 47 

 (B) with respect to any subdivision or combination of Common Stock, means the first date on which the
Common Stock trade regular way on such exchange or in such market after the time at which such subdivision or combination becomes effective, and 
  
 (C) with respect to any tender or exchange offer, means the first date on which the Common Stock trade regular way on such exchange or in such market
after the Expiration Time of such offer. 
  
 Notwithstanding the
foregoing, whenever successive adjustments to the Conversion Price are called for pursuant to this Section 12.4, such adjustments shall be made to the Current Market Price as may be necessary or appropriate to effectuate the intent of this Section
12.4 and to avoid unjust or inequitable results as determined in good faith by the Board of Directors. 
  
 (2) “fair market value” shall mean the amount which a willing buyer would pay a willing seller in an arm’s length transaction.

  
 (3) “Record Date” shall mean, with respect to
any dividend, distribution or other transaction or event in which the holders of Common Stock have the right to receive any cash, securities or other property or in which the Common Stock (or other applicable security) is exchanged for or converted
into any combination of cash, securities or other property, the date fixed for determination of shareholders entitled to receive such cash, securities or other property (whether such date is fixed by the Board of Directors or by statute, contract or
otherwise). 
  
 (h) The Company may make such reductions in the
Conversion Price, in addition to those required by Sections 12.4(a), (b), (c), (d), (e) or (f), as the Board of Directors considers to be advisable to avoid or diminish any income tax to holders of Common Stock or rights to purchase Common Stock
resulting from any dividend or distribution of stock (or rights to acquire stock) or from any event treated as such for income tax purposes. 
  
 To the extent permitted by applicable law, the Company from time to time may reduce the Conversion Price by any amount for any period of time if the
period is at least 20 days and the reduction is irrevocable during the period and the Board of Directors determines in good faith that such reduction would be in the best interests of the Company, which determination shall be conclusive and set
forth in a Board Resolution. Whenever the Conversion Price is reduced pursuant to the preceding sentence, the Company shall mail to the Trustee and each Holder at the address of such Holder as it appears in the Register a notice of the reduction at
least 15 days prior to the date the reduced Conversion Price takes effect, and such notice shall state the reduced Conversion Price and the period during which it will be in effect. 
  
 Adjustment to the Conversion Price is not necessary if Holders may participate in the transactions otherwise giving rise to
an adjustment on a basis and with notice that the Board of Directors determines to be fair and appropriate. In cases where the fair market value of the portion of assets, debt securities or rights, warrants or options to purchase securities of the
Company applicable to one Share of Common Stock distributed to shareholders exceeds the average sale price per Share of Common Stock, or the average sale price per share of options on Common Stock so distributed by less than $1.00, rather than being
entitled to an adjustment in the Conversion Price, a Holder, upon conversion of a Note, will be entitled to receive (in addition to the Common Stock into which such Note is convertible) the kind and amounts of assets, debt securities or rights,
options or warrants comprising the distribution that such Holder would have received if such Holder had converted such Note immediately prior to the record date for determining the shareholders entitled to receive such distribution. 
  
 (i) No adjustment in the Conversion Price shall be required unless such
adjustment would require an increase or decrease of at least 1% in such price; provided, however, that any adjustments which by reason of this Section 12.4(i) are not required to be made shall be carried forward and taken into account
in any subsequent adjustment. All calculations under this Article XII shall be made by the Company and shall be made to the nearest cent or to the nearest one-hundredth (1/100th) of a share, as the case may be. No adjustment need be made for a
change in the par value or no par value of the Common Stock. 
  
 (j) In any case in which this Section 12.4 provides that an adjustment shall become effective immediately after a Record Date for an event, the Company may defer until the occurrence of such event (i) issuing 
  

 48 

 to the Holder of any Note converted after such Record Date and before the occurrence of such event the additional Common
Stock issuable upon such conversion by reason of the adjustment required by such event over and above the Common Stock issuable upon such conversion before giving effect to such adjustment and (ii) paying to such Holder any amount in cash in lieu of
any fraction pursuant to Section 12.3. 
  
 (k) For purposes of
this Section 12.4, the number of Common Stock at any time outstanding shall not include shares held in the treasury of the Company but shall include shares issuable in respect of scrip certificates issued in lieu of fractions of Common Stock. The
Company will not pay any dividend or make any distribution on Common Stock held in the treasury of the Company. 
  
 (l) If the distribution date for the rights provided in the Company’s rights agreement, if any, occurs prior to the date a Note is converted, (i) the
Holder of the Note who converts such Note after the distribution date is entitled to receive the rights that would otherwise be attached (but for the date of conversion) to the Common Stock received upon such conversion and (ii) no adjustment shall
be made to the Conversion Price pursuant to Section 12.4(b). 
  
 SECTION 12.5 NOTICE OF ADJUSTMENTS OF CONVERSION PRICE. 
  
 Whenever the Conversion Price is adjusted as herein provided (other than in the case of an adjustment pursuant to the second paragraph of Section 12.4(h) for which the notice required by such paragraph has been
provided), the Company shall promptly file with the Trustee and any Conversion Agent other than the Trustee an Officers’ Certificate setting forth the adjusted Conversion Price and showing in reasonable detail the facts upon which such
adjustment is based; provided that the Trustee shall have no duty or obligation to verify the accuracy of the adjusted Conversion Price. Promptly after delivery of such Officers’ Certificate, the Company shall prepare a notice stating that the
Conversion Price has been adjusted and setting forth the adjusted Conversion Price and the date on which each adjustment becomes effective, and shall mail such notice to each Holder at the address of such Holder as it appears in the Register within
20 days of the effective date of such adjustment. Failure to deliver such notice shall not effect the legality or validity of any such adjustment. 
  
 SECTION 12.6 NOTICE PRIOR TO CERTAIN ACTIONS. 
  

In case at any time after the date hereof: 
  
 (1) the Company shall declare a dividend (or any other distribution) on its Common Stock payable otherwise than in cash out of its capital surplus or its
consolidated retained earnings; 
  
 (2) the Company shall
authorize the granting to the holders of its Common Stock of rights or warrants to subscribe for or purchase any shares of capital stock of any class (or of securities convertible into shares of capital stock of any class) or of any other rights;

  
 (3) there shall occur any reclassification of the Common Stock
(other than a subdivision or combination of its outstanding Common Stock, a change in par value, a change from par value to no par value or a change from no par value to par value), or any merger, consolidation, statutory share exchange or
combination to which the Company is a party and for which approval of any shareholders of the Company is required, or the sale, transfer or conveyance of all or substantially all of the assets of the Company; or 
  
 (4) there shall occur the voluntary or involuntary dissolution, liquidation
or winding up of the Company; 
  
 the Company shall cause to be filed at each
office or agency maintained for the purpose of conversion of Notes pursuant to Section 9.2, and shall cause to be provided to the Trustee and all Holders in accordance with Section 14.2, at least 20 days (or 10 days in any case specified in clause
(1) or (2) above) prior to the applicable record or effective date hereinafter specified, a notice stating: 
  
 (A) the date on which a record is to be taken for the purpose of such dividend, distribution, rights or warrants, or, if a record is not to be taken, the
date as of which the holders of Common Stock of record to be entitled to such dividend, distribution, rights or warrants are to be determined, or 
  

 49 

 (B) the date on which such reclassification, merger, consolidation, statutory share exchange,
combination, sale, transfer, conveyance, dissolution, liquidation or winding up is expected to become effective, and the date as of which it is expected that holders of Common Stock of record shall be entitled to exchange their Common Stock for
securities, cash or other property deliverable upon such reclassification, merger, consolidation, statutory share exchange, sale, transfer, dissolution, liquidation or winding up. 
  
 Neither the failure to give such notice nor any defect therein shall affect the legality or validity of the proceedings or
actions described in clauses (1) through (4) of this Section 12.6. 
  
 SECTION
12.7 COMPANY TO RESERVE COMMON STOCK. 
  
 The Company shall at
all times use its best efforts to reserve and keep available, free from preemptive rights, out of its authorized but unissued Common Stock, for the purpose of effecting the conversion of Notes, the full number of fully paid and nonassessable Common
Stock then issuable upon the conversion of all outstanding Notes. 
  
 SECTION 12.8
TAXES ON CONVERSIONS. 
  
 Except as provided in the next
sentence, the Company will pay any and all taxes (other than taxes on income) and duties that may be payable in respect of the issue or delivery of Common Stock on conversion of Notes pursuant hereto or repurchase of Notes pursuant to exercise of
the Purchase Option. A Holder delivering a Note for conversion or repurchase, as applicable, shall be liable for and will be required to pay any tax or duty which may be payable in respect of any transfer involved in the issue and delivery of Common
Stock in a name other than that of the Holder of the Note to be converted or repurchased, and no such issue or delivery shall be made unless the Person requesting such issue has paid to the Company the amount of any such tax or duty, or has
established to the satisfaction of the Company that such tax or duty has been paid. 
  
 SECTION 12.9 COVENANT AS TO COMMON STOCK. 
  
 The
Company covenants that all Common Stock which may be issued upon conversion of Notes will upon issue be fully paid and nonassessable and, except as provided in Section 12.8, the Company will pay all taxes, liens and charges with respect to the issue
thereof. 
  
 SECTION 12.10 CANCELLATION OF CONVERTED NOTES. 
  
 All Notes delivered for conversion shall be delivered to the Trustee to be
canceled by or at the direction of the Trustee, which shall dispose of the same as provided in Section 2.11. 
  
 SECTION 12.11 EFFECT OF RECLASSIFICATION, CONSOLIDATION, MERGER OR SALE. 
  
 If any of following events occur, namely: 
  
 (i) any reclassification or change of the outstanding Common Stock (including a compulsory share exchange but other than changes resulting from a
subdivision or combination), as a result of which holders of Common Stock shall be entitled to receive stock, securities or other property or assets (including cash or any combination thereof) with respect to or in exchange for such Common Stock,

  
 (ii) any merger, consolidation, statutory share exchange or
combination of the Company with another corporation as a result of which holders of Common Stock shall be entitled to receive stock, securities or other property or assets (including cash or any combination thereof) with respect to or in exchange
for such Common Stock or 
  

 50 

 (iii) any sale or conveyance of all or substantially all of the properties and assets of the Company to
any other Person as a result of which holders of Common Stock shall be entitled to receive stock, securities or other property or assets (including cash or any combination thereof) with respect to or in exchange for such Common Stock, 
  
 the Company or the successor or purchasing corporation, as the case may be, shall execute
with the Trustee a supplemental indenture (which shall comply with the TIA as in force at the date of execution of such supplemental indenture if such supplemental indenture is then required to so comply) providing that each Note shall be
convertible into the kind and amount of shares of stock and other securities or property or assets (including cash or any combination thereof) which the Holder thereof would have been entitled to receive upon such reclassification, change, merger,
consolidation, statutory share exchange, combination, sale or conveyance had such Notes been converted into Common Stock immediately prior to such reclassification, change, merger, consolidation, statutory share exchange, combination, sale or
conveyance assuming such holder of Common Stock did not exercise its rights of election, if any, as to the kind or amount of securities, cash or other property receivable upon such merger, consolidation, statutory share exchange, sale or conveyance
(provided that, if the kind or amount of securities, cash or other property receivable upon such merger, consolidation, statutory share exchange, sale or conveyance is not the same for each Share of Common Stock in respect of which such rights of
election shall not have been exercised (“Non-Electing Share”), then for the purposes of this Section 12.11 the kind and amount of securities, cash or other property receivable upon such merger, consolidation, statutory share
exchange, sale or conveyance for each Non-Electing Share shall be deemed to be the kind and amount so receivable per share by a plurality of the Non-Electing Shares). The Trustee shall be entitled to rely on an Opinion of Counsel as to whether any
such supplemental indenture is required to and does comply with the TIA. Such supplemental indenture shall provide for adjustments which shall be as nearly equivalent as may be practicable to the adjustments provided for in this Article XII. If, in
the case of any such reclassification, change, merger, consolidation, statutory share exchange, combination, sale or conveyance, the stock or other securities and assets receivable thereupon by a holder of Common Stock includes shares of stock or
other securities and assets of a corporation other than the successor or purchasing corporation, as the case may be, in such reclassification, change, merger, consolidation, statutory share exchange, combination, sale or conveyance, then such
supplemental indenture shall also be executed by such other corporation and shall contain such additional provisions to protect the interests of the Holders as the Boards of Directors shall reasonably consider necessary by reason of the foregoing,
including to the extent practicable the provisions providing for the repurchase rights set forth in Article XII. 
  
 The Company shall cause notice of the execution of such supplemental indenture to be mailed to each Holder, at the address of such Holder as it appears on
the Register, within 20 days after execution thereof. Failure to deliver such notice shall not affect the legality or validity of such supplemental indenture. 
  

The above provisions of this Section 12.11 shall similarly apply to successive reclassifications, mergers, consolidations, statutory share exchanges,
combinations, sales and conveyances. 
  
 If this Section 12.11
applies to any event or occurrence, Section 12.4 shall not apply. 
  
 SECTION
12.12 RESPONSIBILITY OF TRUSTEE FOR CONVERSION PROVISIONS. 
  
 The Trustee, subject to the provisions of Section 5.1, and any Conversion Agent shall not at any time be under any duty or responsibility to any Holder to determine whether any facts exist which may require any adjustment of the Conversion
Price, or with respect to the nature or intent of any such adjustments when made, or with respect to the method employed, or herein or in any supplemental indenture provided to be employed, in making the same. Neither the Trustee, subject to the
provisions of Section 5.1, nor any Conversion Agent shall be accountable with respect to the validity or value (of the kind or amount) of any Common Stock, or of any other securities or property, which may at any time be issued or delivered upon the
conversion of any Note; and it or they do not make any representation with respect thereto. Neither the Trustee, subject to the provisions of Section 5.1 hereof, nor any Conversion Agent shall be responsible for any failure of the Company to make
any cash payment or to issue, transfer or deliver any shares or share certificates or other securities or property upon the surrender of any Note for the purpose of conversion; and the Trustee, subject to the provisions of Section 5.1, and any
Conversion Agent shall not be responsible or liable for any failure of the Company to comply with any of the covenants of the Company contained in this Article XII. 
  

 51 

 ARTICLE XIII. 
  
 SUBORDINATION OF NOTES 
  
 SECTION 13.1 NOTES SUBORDINATED TO SENIOR DEBT. 
  
 Notwithstanding any other provision of this Indenture, the Company and the Trustee each covenants and agrees, and each Holder, by its acceptance of a
Note, likewise covenants and agrees, that all Notes shall be issued subject to the provisions of this Article XIII and each Person holding any Note, whether upon original issue or upon transfer, assignment or exchange thereof, accepts and agrees
that the Notes shall, to the extent set forth in this Article XIII, be subordinated in right of payment to the prior payment in full, in cash or cash equivalents, of all amounts that constitute Senior Debt. 
  
 The Notes will be on parity in the right of payment with the Company’s
other existing and future liabilities that are not otherwise subordinated in favor of the notes. 
  
 The Notes will be senior in the right of payment to all other indebtedness of the Company that by its terms is expressly subordinate to the Notes.

  
 SECTION 13.2 NO PAYMENT ON NOTES IN CERTAIN CIRCUMSTANCES. 
  
 (a) No direct or indirect payment on account of the Notes or on account of
the purchase or redemption or other acquisition of Notes by or on behalf of the Company shall be made if, at the time of such payment, there shall have occurred and be continuing a default in the payment of principal of (or premium, if any) or
interest on Senior Debt (including upon acceleration of the maturity thereof) when due (a “Senior Payment Default”). 
  
 (b) In addition, if any default (other than a Senior Payment Default) with respect to any Designated Senior Debt permitting, or which with the giving of
notice of lapse of time (or both) would permit, the holders thereof (or a trustee on behalf thereof) to accelerate the maturity thereof (a “Senior Non-monetary Default”) has occurred and is continuing and the Company and the Trustee
have received written notice thereof from an authorized person on behalf of Designated Senior Debt, then the Company may not make any payments on account of the Notes or on account of the purchase or redemption or other acquisition of Notes or on
account of the purchase or redemption or other acquisition Notes for a period (a “Payment Blockage Period”) commencing on the date the Company and the Trustee receive such written notice and ending on the earlier of (i) 179 days
after such date or on the date on which the Trustee receives notice from any authorized person on behalf of the Designated Senior Debt for which the blockage notice was given rescinding such notice and (ii) the date, if any, on which the Designated
Senior Debt to which such default relates is discharged or such default is waived or otherwise cured provided that no other default then exists except, in each case, any acceleration of the Designated Senior Debt. 
  
 (c) Not more than one Payment Blockage Period pursuant to Section 13.2(b) may
be commenced with respect to the Notes during any period of 360 consecutive days. Notwithstanding anything in this Indenture to the contrary, there must be 180 consecutive days in any 360-day period in which no Payment Blockage Period is in effect.
For all purposes of Section 13.2(b) and this Section 13.2(c), no event of default that existed or was continuing (it being acknowledged that any subsequent action that would give rise to an event of default pursuant to any provision under which an
event of default previously existed or was continuing shall constitute a new event of default for this purpose) on the date of the commencement of any Payment Blockage Period with respect to the Designated Senior Debt initiating such Payment
Blockage Period shall be, or shall be made, the basis for the commencement of a second Payment Blockage Period by the representative for, or the holders of, such Designated Senior Debt, whether or not within a period of 360 consecutive days, unless
such event of default shall have been cured or waived for a period of not less than 90 consecutive days. 
  
 SECTION 13.3 PAYMENT OVER OF PROCEEDS UPON DISSOLUTION, ETC. 
  
 (a) Upon any payment or distribution of assets or securities of the Company to creditors of any kind or character, whether in cash, property or securities, in connection with any dissolution or winding up or total or

  

 52 

 partial liquidation or reorganization of the Company, whether voluntary or involuntary, or in a bankruptcy, insolvency,
receivership or other proceedings, the holders of Senior Debt will first be entitled to receive payment in full in cash or cash equivalents of principal of (and premium, if any) and interest on such Senior Debt (whether or not allowed in such
proceeding) before the Holders are entitled to receive any payment of principal of (an premium, if any) or interest on the Notes or on account of the purchase or redemption or other acquisition of the Notes by the Company or any of its subsidiaries.
If, notwithstanding the foregoing, the Trustee or the Holder of any Note receives any payment or distribution of the Company’s assets of any kind or character (excluding shares of the Company’s common stock or securities provided for in a
plan reorganization or readjustment which are subordinate in right of payment to all Senior Debt to substantially the same extent as the Notes are so subordinated) before all the Senior Debt is paid in full in cash or cash equivalents, then such
payment or distribution will be required to be paid over or delivered forthwith to the trustee in bankruptcy or other Person making payment or distribution of the Company’s assets for application to the payment of all Senior Debt remaining
unpaid, to the extent necessary to pay the Senior Debt in full in cash or cash equivalents. 
  
 (b) To the extent any payment of Senior Debt (whether by or on behalf of the Company, as proceeds of security or enforcement of any right of setoff or otherwise) is declared to be fraudulent or preferential, set aside
or required to be paid to any receiver, trustee in bankruptcy, liquidating trustee, agent or other similar Person under any bankruptcy, insolvency, receivership, fraudulent conveyance or similar law, then if such payment is recovered by, or paid
over to, such receiver, trustee in bankruptcy, liquidating trustee, agent or other similar Person, the Senior Debt or part thereof originally intended to be satisfied shall be deemed to be reinstated and outstanding as if such payment had not
occurred. To the extent the obligation to repay any Senior Debt is declared to be fraudulent, invalid or otherwise set aside under any bankruptcy, insolvency, receivership, fraudulent conveyance or similar law, then the obligations so declared
fraudulent, invalid or otherwise set aside (and all other amounts that would come due with respect thereto had such obligation not been so affected) shall be deemed to be reinstated and outstanding as Senior Debt for all purposes of this Indenture
as if such declaration, invalidity or setting aside had not occurred. 
  
 (c) If, notwithstanding the foregoing provision prohibiting such payment or distribution, any payment or distribution of assets or securities of the Company of any kind or character, whether in cash, property or securities, shall be
received by the Trustee or any Holder at a time when such payment or distribution is prohibited by Section 13.3(a) and before all obligations in respect of Senior Debt are paid in full, in cash or cash equivalents, such payment or distribution shall
be received and held in trust for the benefit of, and shall be paid over or delivered to, the holders of Senior Debt (pro rata to such holders on the basis of the respective amounts of Senior Debt held by such holders) or their representatives or to
the trustee or trustees under any indenture pursuant to which any such Senior Debt may have been issued, as their respective interests appear, for application to the payment of Senior Debt remaining unpaid until all such Senior Debt has been paid in
full, in cash or cash equivalents, after giving effect to any concurrent payment, distribution or provision therefor to or for the holders of such Senior Debt. 
  

(d) The consolidation of the Company with, or the merger of the Company with or into, another Person or the liquidation or dissolution of the Company
following the sale, conveyance, transfer, lease or other disposition of all or substantially all of its property and assets to another Person upon the terms and conditions provided in Article VI shall not be deemed a dissolution, winding up,
liquidation or reorganization for the purposes of this Section 13.3 if such other Person shall, as a part of such consolidation, merger, sale, conveyance, transfer, lease or other disposition, comply (to the extent required) with the conditions
stated in Article VI. 
  
 SECTION 13.4 SUBROGATION. 
  
 Upon the payment in full of all Senior Debt in cash or cash equivalents, the
Holders shall be subrogated to the rights of the holders of Senior Debt to receive payments or distributions of cash, property or securities of the Company made on such Senior Debt until the principal of and interest on the Notes shall be paid in
full; and, for the purposes of such subrogation, no payments or distributions to the holders of such Senior Debt of any cash, property or securities to which the Holders or the Trustee on their behalf would be entitled except for the provisions of
this Article XIII, and no payment pursuant to the provisions of this Article XIII to the holders of Senior Debt by Holders or the Trustee on their behalf shall, as between the Company, its creditors other than holders of Senior Debt, and the
Holders, be deemed to be a payment by the Company to or on account of the Senior Debt. It is understood that the provisions of this Article XIII are intended solely for the purpose of defining the relative rights of the Holders, on the one hand, and
the holders of the Senior Debt, on the other hand. 
  

 53 

 SECTION 13.5 OBLIGATIONS OF THE COMPANY UNCONDITIONAL. 
  
 (a) Nothing contained in this Article XIII or elsewhere in this Indenture or in the Notes is intended to or shall impair, as
among the Company and the Holders, the obligation of the Company, which is absolute and unconditional, to pay to the Holders the principal of and interest on the Notes as and when the same shall become due and payable in accordance with their terms,
or is intended to or shall affect the relative rights of the Holders and creditors of the Company other than the holders of the Senior Debt, nor shall anything herein or therein prevent the Holders or the Trustee on their behalf from exercising all
remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rights, if any, under this Article XIII of the holders of the Senior Debt. 
  
 (b) Without limiting the generality of the foregoing, nothing contained in this Article XIII will restrict the right of the
Trustee or the Holders to take any action to declare the Notes to be due and payable prior to their maturity or to pursue any rights or remedies hereunder; provided, however, that all Senior Debt then due and payable or thereafter
declared to be due and payable shall first be paid in full, in cash or cash equivalents, before the Holders or the Trustee are entitled to receive any direct or indirect payment from the Company under the Notes. 
  
 SECTION 13.6 NOTICE TO TRUSTEE. 
  
 (a) The Company shall give prompt written notice to the Trustee of any fact
known to the Company that would prohibit the making of any payment to or by the Trustee in respect of the Notes pursuant to the provisions of this Article XIII. The Trustee shall not be charged with knowledge of the existence of any Senior Payment
Default or Senior Non-monetary Default with respect to any Senior Debt or of any other facts that would prohibit the making of any payment to or by the Trustee unless and until the Trustee shall have received notice in writing to that effect signed
by an Officer, or by a holder of Senior Debt or trustee or agent thereof; and prior to the receipt of any such written notice, the Trustee shall, subject to this Article XIII, be entitled to assume that no such facts exist; provided that, if the
Trustee shall not have received the notice provided for in this Section 13.6 at least two Business Days prior to the date upon which, by the terms of this Indenture, any monies shall become payable for any purpose (including the payment of the
principal of or interest on any Note), then, notwithstanding anything herein to the contrary, the Trustee shall have full power and authority to receive any monies from the Company and to apply the same to the purpose for which they were received,
and shall not be affected by any notice to the contrary that may be received by it on or after such prior date except for an acceleration of the Notes prior to such application. Nothing contained in this Section 13.6 shall limit the right of the
holders of Senior Debt to recover payments as contemplated by this Article XIII. The foregoing shall not apply if the paying agent is the Company. The Trustee shall be entitled to rely on the delivery to it of a written notice by a Person
representing himself or itself to be a holder of any Senior Debt (or a trustee on behalf of, or other representative of, such holder) to establish that such notice has been given by a holder of such Senior Debt or a trustee or representative on
behalf of any such holder. 
  
 (b) If the Trustee determines in
good faith that any evidence is required with respect to the right of any Person as a holder of Senior Debt to participate in any payment or distribution pursuant to this Article XIII, the Trustee may request such Person to furnish evidence to the
reasonable satisfaction of the Trustee as to the amount of Senior Debt held by such Person, the extent to which such Person is entitled to participate in such payment or distribution and any other facts pertinent to the rights of such Person under
this Article XIII and, if such evidence is not furnished to the Trustee, the Trustee may defer any payment to such Person pending judicial determination as to the right of such Person to receive such payment. 
  
 SECTION 13.7 RELIANCE ON JUDICIAL ORDER OR CERTIFICATE OF LIQUIDATING AGENT. 
  
 Upon any payment or distribution of assets or securities referred to in this
Article XIII, the Trustee and the Holders shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which bankruptcy, dissolution, winding up, liquidation or reorganization proceedings are pending, or upon a
certificate of the receiver, trustee in bankruptcy, liquidating trustee, agent or other similar Person making such payment or distribution, delivered to the Trustee or to the Holders for the purpose of ascertaining the Persons entitled to
participate in such distribution, the holders of the Senior Debt and other indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this Article
XIII. 
  

 54 

 SECTION 13.8 TRUSTEE’S RELATION TO SENIOR DEBT. 
  
 (a) The Trustee and any paying agent shall be entitled to all the rights set forth in this Article XIII with respect to any
Senior Debt that may at any time be held by it in its individual or any other capacity to the same extent as any other holder of Senior Debt and nothing in this Indenture shall deprive the Trustee or any paying agent of any of its rights as such
holder. 
  
 (b) With respect to the holders of Senior Debt, the
Trustee undertakes to perform or to observe only such of its covenants and obligations as are specifically set forth in this Article XIII, and no implied covenants or obligations with respect to the holders of Senior Debt shall be read into this
Indenture against the Trustee. The Trustee shall not be deemed to owe any fiduciary duty to the holders of Senior Debt (except as provided in Section 13.2(b), Section 13.3(a) and Section 13.3(c)). 
  
 SECTION 13.9 SUBORDINATION RIGHTS NOT IMPAIRED BY ACTS OR OMISSIONS OF THE COMPANY OR HOLDERS
OF SENIOR DEBT. 
  
 No right of any present or future holders of
any Senior Debt to enforce subordination as provided in this Article XIII will at any time in any way be prejudiced or impaired by any act or failure to act on the part of the Company or by any act or failure to act, in good faith, by any such
holder, or by any noncompliance by the Company with the terms of this Indenture, regardless of any knowledge thereof that any such holder may have or otherwise be charged with. The provisions of this Article XIII are intended to be for the benefit
of, and shall be enforceable directly by, the holders of Senior Debt. 
  
 SECTION
13.10 HOLDERS AUTHORIZE TRUSTEE TO EFFECTUATE THE SUBORDINATION OF THE NOTES. 
  
 Each Holder, by such Holder’s acceptance of any Notes, authorizes and expressly directs the Trustee on such Holder’s behalf to take such action as may be necessary or appropriate to effectuate the
subordination provided in this Article XIII, and appoints the Trustee such Holder’s attorney-in-fact for such purposes, including, in the event of any dissolution, winding up, liquidation or reorganization of the Company (whether in bankruptcy,
insolvency, receivership, reorganization or similar proceedings or upon an assignment for the benefit of creditors or otherwise) tending towards liquidation of the property and assets of the Company, the filing of a claim for the unpaid balance of
its Notes, if any, in the form required in those proceedings. If the Trustee does not file a proper claim or proof of indebtedness in the form required in such proceeding at least 30 days before the expiration of the time to file such claim or
claims, each holder of Senior Debt is hereby authorized to file an appropriate claim for and on behalf of the Holders. 
  
 SECTION 13.11 NOT TO PREVENT EVENTS OF DEFAULT. 
  
 The failure to make a payment on account of principal of or interest on the Notes by reason of any provision of this Article XIII will not be construed as
preventing the occurrence of an Event of Default. 
  
 SECTION 13.12 TRUSTEE’S
COMPENSATION NOT PREJUDICED. 
  
 Nothing in this Article XIII
will apply to amounts due to the Trustee pursuant to other sections of this Indenture. 
  
 SECTION 13.13 NO WAIVER OF SUBORDINATION PROVISIONS. 
  
 Without in any way limiting the generality of Section 13.9, the holders of Senior Debt may, at any time and from time to time, without the consent of or notice to the Trustee or the Holders, without incurring responsibility to the Holders
and without impairing or releasing the subordination provided in this Article XIII or the obligations hereunder of the Holders to the holders of Senior Debt, do any one or more of the following: (a) change the manner, place or terms of payment or
extend the time of payment of, or renew or alter, Senior Debt or any instrument evidencing the same or any agreement under which Senior Debt is outstanding or secured; (b) sell, exchange, release 
  

 55 

 or otherwise deal with any property pledged, mortgaged or otherwise securing Senior Debt; (c) release any Person liable
in any manner for the collection of Senior Debt; and (d) exercise or refrain from exercising any rights against the Company and any other Person. 
  
 SECTION 13.14 PAYMENTS MAY BE PAID PRIOR TO DISSOLUTION. 
  
 Nothing contained in this Article XIII or elsewhere in this Indenture shall prevent (i) the Company, except under the conditions described in Section 13.2
or Section 13.3, from making payments of principal of and interest on the Notes, or from depositing with the Trustee any money for such payments, or (ii) the application by the Trustee of any money deposited with it for the purpose of making such
payments of principal of and interest on the Notes to the Holders entitled thereto unless, at least two Business Days prior to the date upon which such payment becomes due and payable, the Trustee shall have received the written notice provided for
in Section 13.2(b) (or there shall have been an acceleration of the Notes prior to such application) or in Section 13.6. The Company shall give prompt written notice to the Trustee of any dissolution, winding up, liquidation or reorganization of the
Company. 
  
 ARTICLE XIV. 
  
 OTHER PROVISIONS OF GENERAL APPLICATION 
  
 SECTION 14.1 TRUST INDENTURE ACT CONTROLS. 
  
 This Indenture is subject to the provisions of the TIA which are required to
be part of this Indenture by the provisions of the Trust Indenture Reform Act of 1990, and shall, to the extent applicable, be governed by such provisions. 
  
 SECTION 14.2 NOTICES. 
  
 Any notice or communication to the Company or the Trustee is duly given if in writing and delivered in person or mailed by first-class mail or by
overnight delivery service to the address set forth below: 
  

	 	(a)	if to the Company: 

  
 AQuantive, Inc. 
 506 Second Avenue, 9th Floor 
 Seattle, Washington 98104 
 Attention: General Counsel 
  
 with a copy to: 
  
 Perkins Coie LLP 
 1201 Third Avenue, Suite 4800 
 Seattle, Washington 98122 
 Attention: David F. McShea, Esq. 
  

	 	(b)	if to the Trustee: 

  
 BNY Western Trust Company 
 700 S. Flower Street, Suite 500 
 Los Angeles, California 90017 
 Attention: Corporate Trust Department 
  
 The Company or the Trustee by notice to the other may designate additional or different addresses for subsequent notices or communications. 
  

 56 

 Any notice or communication to a Holder shall be mailed by first-class mail to such Holder’s address
shown on the Register kept by the Registrar or, if the Holder is the Depositary, sent by facsimile or overnight delivery services. Failure to mail a notice or communication to a Holder or any defect in such notice or communication shall not affect
its sufficiency with respect to other Holders. 
  
 If a notice or
communication is mailed or sent in the manner provided above within the time prescribed, it is duly given as of the date it is mailed, whether or not the addressee receives it, except that notice to the Trustee shall only be effective upon receipt
thereof by the Trustee. 
  
 If the Company mail a notice or
communication to Holders, it shall mail a copy to the Trustee at the same time. 
  
 SECTION 14.3 COMMUNICATION BY HOLDERS WITH OTHER HOLDERS. 
  
 Holders may communicate pursuant to Section 312(b) of the TIA with other Holders with respect to their rights under the Notes or this Indenture. The Company, the Trustee, the Registrar and anyone else shall have the protection of Section
312(c) of the TIA. 
  
 SECTION 14.4 ACTS OF HOLDERS. 
  
 (a) Any request, demand, authorization, direction, notice, consent, waiver
or other action provided by this Indenture to be given or taken by Holders may be embodied in and evidenced by: 
  
 (1) one or more instruments of substantially similar tenor signed by such Holders in person or by agent or proxy duly appointed in writing; 
  
 (2) the record of Holders voting in favor thereof, either in person or by
proxies duly appointed in writing, at any meeting of Holders duly called and held in accordance with the provisions of Article IX; or 
  
 (3) a combination of such instruments and any such record. 
  
 Except as herein otherwise expressly provided, such action shall become effective when such instrument or instruments or record or both are delivered to
the Trustee and, where it is hereby expressly required, to the Company. Such instrument or instruments and record (and the action embodied therein and evidenced thereby) are herein sometimes referred to as the “Act of the Holders” of Notes
signing such instrument or instruments and so voting at such meeting. Proof of execution of any such instrument or of a writing appointing any such agent or proxy, or of the holding by any Person of a Note, shall be sufficient for any purpose of
this Indenture and (subject to Section 6.1) conclusive in favor of the Trustee and the Company if made in the manner provided in this Section. The record of any meeting of Holders shall be proved in the manner provided in Section 8.6. 
  
 (b) The fact and date of the execution by any Person of any such instrument
or writing may be provided in any manner which the Trustee reasonably deems sufficient. 
  
 (c) The principal amount and serial numbers of Notes held by any Person, and the date of such Person holding the same, shall be proved by the Register. 
  
 (d) Any request, demand, authorization, direction, notice, consent, election, waiver or other Act of the Holders of any Note
shall bind every future Holder of the same Note and the Holder of every Note issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof in respect of anything done, omitted or suffered to be done by the Trustee, the
Company in reliance thereon, whether or not notation of such action is made upon such Note. 
  

 57 

 SECTION 14.5 CERTIFICATE AND OPINION AS TO CONDITIONS PRECEDENT. 
  
 In any case where several matters are required to be certified by, or
covered by an opinion of, any specified Person, it is not necessary that all such matters be certified by, or covered by the opinion of, only one such Person, or that they be so certified or covered by only one document, but one such Person may
certify or give an opinion with respect to some matters and one or more other such Persons as to other matters, and any such Person may certify or give an opinion as to such matters in one or several documents. Any certificate or opinion of an
Officer may be based, insofar as it relates to legal matters, upon an Opinion of Counsel, unless such Officer knows, or in the exercise of reasonable care should know, that the Opinion of Counsel with respect to the matters upon which such
certificate or opinion is based is erroneous. Any such Opinion of Counsel may be based, insofar as it relates to factual matters, upon a certificate or representations by, an officer or officers of the Company stating that the information with
respect to such factual matters is in the possession of the Company, unless such counsel knows, or in the exercise of reasonable care should know, that the certificate or representations with respect to such matters are erroneous. 
  
 Where any Person is required to make, give or execute two or more
applications, requests, consents, certificates, statements, opinions or other instruments under this Indenture, they may, but need not, be consolidated and form one instrument. 
  
 Upon any application or request by the Company to the Trustee to take any action under any provision of this Indenture, the
Company shall furnish to the Trustee an Officers’ Certificate stating that all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied with and an Opinion of Counsel stating that in the
opinion of such counsel all such conditions precedent, if any, have been complied with, except that in the case of any such application or request as to which the furnishing of such documents is specifically required by any provision of this
Indenture relating to such particular application or request, no additional certificate or opinion need be furnished. 
  
 SECTION 14.6 STATEMENTS REQUIRED IN CERTIFICATE OR OPINION. 
  
 Each certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture shall include: 
  
 (1) a statement that each individual signing such certificate or opinion on
behalf of the Company has read such covenant or condition and the definitions herein relating thereto; 
  
 (2) 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; 
  
 (3) a statement that, in the opinion of
each such individual, he has made such examination or investigation as is necessary to enable him to express an informed opinion as to whether or not such covenant or condition has been complied with; and 
  
 (4) a statement as to whether, in the opinion of each such individual, such
condition or covenant has been complied with. 
  
 SECTION 14.7 EFFECT OF HEADINGS
AND TABLE OF CONTENTS. 
  
 The Article and Section headings
herein and the Table of Contents are for convenience only and shall not affect the construction hereof. 
  
 SECTION 14.8 SUCCESSORS AND ASSIGNS. 
  
 All covenants and agreements in this Indenture by the Company shall bind its successors and assigns, whether so expressed or not. 
  

 58 

 SECTION 14.9 SEPARABILITY CLAUSE. 
  
 In case any provision in this Indenture or the Notes shall be invalid, illegal or unenforceable, the validity, legality and
enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 
  
 SECTION 14.10 BENEFITS OF INDENTURE. 
  
 Nothing contained in this Indenture or in the Notes, express or implied, shall give to any Person, other than the parties hereto and their successors hereunder and the Holders, any benefit or legal or equitable right, remedy or claim under
this Indenture. 
  
 SECTION 14.11 GOVERNING LAW. 
  
 THIS INDENTURE AND THE NOTES SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
  
 SECTION 14.12
COUNTERPARTS. 
  
 This instrument may be executed in any number
of counterparts, each of which when so executed shall be deemed to be an original but all such counterparts shall together constitute but one and the same instrument. 
  
 SECTION 14.13 LEGAL HOLIDAYS. 
  
 In any case where any Interest Payment Date, Optional Redemption Date, Holder Repurchase Date or stated maturity of any Note shall not be a Business Day
at any Place of Payment, then (notwithstanding any other provision of this Indenture or of the Notes) payment of interest (including Liquidated Damages, if any) or principal or premium, if any, need not be made at such Place of Payment on such day,
but may be made on the next succeeding Business Day at such Place of Payment with the same force and effect as if made on the Interest Payment Date, Optional Redemption Date, Holder Repurchase Date or at the stated maturity, provided, that in the
case that payment is made on such succeeding Business Day, no interest shall accrue on the amount so payable for the period from and after such Interest Payment Date, Optional Redemption Date, Holder Repurchase Date or stated maturity, as the case
may be. 
  
 SECTION 14.14 RECOURSE AGAINST OTHERS. 
  
 No recourse for the payment of the principal of or premium, if any, or
interest (including Liquidated Damages, if any) on any Note, or for any claim based thereon or otherwise in respect thereof, shall be had against any incorporator, shareholder, officer or director, as such, past, present or future, of the Company or
of any successor corporation of the Company, whether by virtue of any constitution, statute or rule of law or by the enforcement of any assessment or penalty or otherwise, all such liability being, by the acceptance thereof and as part of the
consideration for the issue thereof, expressly waived and released. 
  

 59 

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

			
	 AQUANTIVE, INC.

		
	 By:
	 	 /s/ Michael Vernon

	 Name:
	 	 Michael Vernon

	 Title:
	 	 Chief Financial Officer

	
	 BNY WESTERN TRUST COMPANY

		
	 By:
	 	 /s/ Sandeé Parks

	 Name:
	 	 Sandeé Parks

	 Title:
	 	 Vice President

  

 60 

 EXHIBIT A 
  
 FORM OF NOTE 
  
 [Face of Note] 
  
 AQUANTIVE, INC. 
  
 [Certificate No.
            ] 
  
 [INSERT RESTRICTIVE SECURITIES LEGEND AND GLOBAL NOTE LEGEND AS REQUIRED] 
  
 2.25% CONVERTIBLE SENIOR SUBORDINATED NOTE DUE 2024 
 CUSIP NO.
                 
  
 AQUANTIVE, INC., a Washington corporation (herein called the “ISSUER”), for value received, hereby promises to pay to Cede & Co. or
registered assigns, the principal sum of [dollar amount] ([$ AMOUNT]) on August 15, 2024, and to pay interest thereon, as provided on the reverse hereof, until the principal and any unpaid and accrued interest is paid or duly provided for. The right
to payment of the principal and all other amounts due with respect hereto is subordinated to the rights of Senior Debt as set forth in the Indenture referred to on the reverse side hereof. 
  
 Interest Payment Dates: February 15 and August 15, with the first payment to
be made on February 15, 2005. 
  
 Record Dates: February 1 and
August 1. 
  
 REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS
OF THIS NOTE SET FORTH ON THE REVERSE HEREOF, WHICH FURTHER PROVISIONS SHALL FOR ALL PURPOSES HAVE THE SAME EFFECT AS IF SET FORTH AT THIS PLACE. 
  
 IN WITNESS WHEREOF, AQUANTIVE, INC. has caused this instrument to be duly signed. 
  

			
	 AQUANTIVE, INC.

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

	 Dated:
	 	  

  

 A-1 

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 
  
 This is one of the Notes referred to in the within-mentioned Indenture. 
  

			
	 BNY WESTERN TRUST COMPANY, as Trustee

		
	 By:
	 	  

	 	 	Authorized Signature
	 Dated:
	 	  

  

 A-2 

 [REVERSE OF NOTE] 
  

AQUANTIVE, INC. 
  
 2.25% CONVERTIBLE SENIOR SUBORDINATED NOTE DUE 2024 
  
 1. INTEREST. AQUANTIVE, INC., a Washington corporation (the “Company”), promises to pay interest on the principal amount of this Note at
the rate per annum shown above. The Company will pay interest semi-annually on February 15 and August 15 of each year, with the first payment to be made on February 15, 2005. Interest on the Notes will accrue on the principal amount from the most
recent date to which interest has been paid or provided for or, if no interest has been paid, from August 24, 2004. Interest will be computed on the basis of a 360-day year of twelve 30-day months. 
  
 2. MATURITY. The Notes will mature on August 15, 2024. 
  
 3. METHOD OF PAYMENT. The Company will pay interest on the Notes (except
defaulted interest) to the Persons who are registered Holders at the close of business on the record date set forth on the face of this Note next preceding the applicable interest payment date. Holders must surrender Notes to a Paying Agent to
collect the principal, Optional Redemption Price, Holder Repurchase Price or Purchase Price of the Notes. The Company will pay all amounts due with respect to the Notes in money of the United States that at the time of payment is legal tender for
payment of public and private debts. If this Note is in global form, the Company will pay interest on the Notes by wire transfer of immediately available funds to the account specified by the Holder. With respect to Notes held other than in global
form, the Company will make payments by: (i) U.S. Dollar check drawn on a bank in The City of New York mailed to the address of the Holder, or (ii) upon application to the Registrar not later than the relevant Record Date by a Holder, of an
aggregate principal amount in excess of $5,000,000, wire transfer in immediately available funds. 
  
 4. PAYING AGENT, REGISTRAR, CONVERSION AGENT. Initially, BNY Western Trust Company (the “Trustee”) will act as Paying Agent, Registrar
and Conversion Agent. The Company may change any Paying Agent, Registrar or Conversion Agent without notice. The Company or any Affiliate of the Company may act as Paying Agent. 
  
 5. INDENTURE. The Company issued the Notes under an Indenture, dated as of August 24, 2004, between the Company and the
Trustee (the “Indenture”). The terms of the Notes include those stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture Act of 1939 (15 U.S. Code Sections 77aaa-77bbbb) (the
“TIA”) as in effect on the date of the Indenture. The Notes are subject to all such terms, and Holders are referred to the Indenture and the Act for a statement of such terms. The Notes are general unsecured senior subordinated
obligations of the Company limited to $70,000,000 aggregate principal amount ($80,000,000 if the Placement Agent (as defined in the Indenture) has elected to exercise its over-allotment option to place an additional $10,000,000 of the Notes), except
as otherwise provided in the Indenture (except for Notes issued in substitution for destroyed, mutilated, lost or stolen Notes). Terms used herein which are defined in the Indenture have the meanings assigned to them in the Indenture. 
  
 6. OPTIONAL REDEMPTION. The Notes shall be redeemable, in whole or from time
to time in part, at the option of the Company on any date on or after August 15, 2009. The Optional Redemption Price equals 100% of the principal amount of the Notes to be redeemed plus any accrued and unpaid interest on the principal amount to be
redeemed to but excluding the Optional Redemption Date. Notice of any such redemption by the Company will be mailed at least 30 days but not more than 60 days before any Optional Redemption Date to each Holder of Notes to be redeemed at its
registered address. If notice of such a redemption is provided and funds are deposited as required, interest will cease to accrue on and after the Optional Redemption Date on the Notes or portions of Notes called for such a redemption. If any
Optional Redemption Date is not a Business Day, the Company will pay the Optional Redemption Price on the next Business Day without any Liquidated Damages or other payment due. If less than all the Notes are to be redeemed at the option of the
Company, the Trustee shall select, in such manner as it shall deem fair and appropriate, the Notes to be redeemed in whole or in part. The Trustee may select for redemption Notes and portions of the Notes of this series in amounts of integral
multiples of $1,000. Notes in denominations larger than $1,000 principal amount may be redeemed in part but only in integral multiples of $1,000 principal amount. 
  

 A-3 

 7. REPURCHASE AT OPTION OF HOLDER. If a Change of Control shall occur at any time prior to Maturity, each
Holder shall have the right, at such Holder’s option and subject to the terms and conditions of the Indenture, to require the Company to purchase any or all of such Holder’s Notes or any portion of the principal amount thereof that is
equal to $1,000 or an integral multiple of $1,000 on the day that is not more than 45 days after the date of the Change of Control Notice (subject to extension to comply with applicable law) for a Holder Repurchase Price equal to 100% of the
principal amount of Notes purchased plus accrued and unpaid interest to the Holder Repurchase Date, plus Liquidated Damages, in any, and plus the Make Whole Premium, if applicable, upon delivery of a Change of Control Notice containing the
information set forth in the Indenture. 
  
 Each Holder shall have
the right, at such Holder’s option and subject to the terms and conditions of the Indenture, to require the Company to purchase any or all of such Holder’s Notes or any portion of the principal amount thereof that is equal to $1,000 or an
integral multiple of $1,000 as of August 15, 2009, August 15, 2014, or August 15, 2019 for a Purchase Price equal to 100% of the principal amount of Notes purchased plus accrued and unpaid interest to the Purchase Date, plus Liquidated Damages, if
any, upon delivery of a Purchase Notice containing the information set forth in the Indenture. The Purchase Price may be paid in cash or, at the Company’s election, in shares of Common Stock or any combination of cash and Common Stock, subject
to the conditions set forth in the Indenture. 
  
 8. CONVERSION. A
Holder may convert his or her Note into Common Stock of the Company at any time prior to the close of business on August 15, 2024, or, (x) if the Note is called for redemption by the Company, the Holder may convert it at any time before the close of
business on the business day immediately preceding the date fixed for such Optional Redemption Date, or (y) if the Note is to be repurchased by the Company, the Holder may convert it at any time before the close of business on the business day
immediately preceding such Holder Repurchase Date or Purchase Date, as the case may be. The initial conversion rate is 77.04 Common Stock per $1,000 principal amount of Notes, or an effective initial conversion price of approximately $12.98 per
share, subject to adjustment in the event of certain circumstances as specified in the Indenture. The Company will deliver a check in lieu of any fractional share. On conversion no payment or adjustment for any unpaid and accrued interest on, or
liquidated damages with respect to, the Notes will be made. If a Holder surrenders a Note for conversion between the record date for the payment of interest and the next interest payment date, such Note, when surrendered for conversion, must be
accompanied by payment of an amount equal to the interest thereon which the registered Holder on such record date is to receive, unless the Notes have been called for redemption as described in the Indenture. 
  
 To convert a Note, a Holder must (1) complete and sign the Conversion Notice,
with appropriate signature guarantee, on the back of the Note, (2) surrender the Note to a Conversion Agent, (3) furnish appropriate endorsements and transfer documents if required by the Registrar or Conversion Agent, (4) pay the amount of
interest, if any, the Holder may be paid as provided in the last sentence of the above paragraph and (5) pay any transfer or similar tax if required. A Holder may convert a portion of a Note if the portion is $1,000 principal amount or a positive
integral multiple of $1,000 principal amount. 
  
 Any shares
issued upon conversion of a Note shall bear the Restrictive Securities Legend until after the second anniversary of the later of the issue date for the Notes and the last date on which the Company or any of its Affiliates was the owner of such
shares or the Note (or any predecessor notes) from which such shares were converted (or such shorter period of time). 
  
 9. SUBORDINATION. The Notes are subordinated in right of payment, in the manner and to the extent set forth in the Indenture, to the prior payment in full
of all Senior Debt. Each Holder by accepting a Note agrees to such subordination and authorizes the Trustee to give it effect. 
  
 10. DENOMINATIONS, TRANSFER, EXCHANGE. The Notes are in registered form without coupons in denominations of $1,000 principal amount and integral multiples
of $1,000 principal amount. The transfer of Notes may be registered and Notes may be exchanged as provided in the Indenture. The Registrar may require a Holder, among other things, to furnish appropriate endorsements and transfer documents. No
service 
  

 A-4 

 charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum
sufficient to cover any tax or other governmental charge payable in connection therewith. The Registrar need not exchange or register the transfer of any Note selected for redemption in whole or in part, except the unredeemed portion of Notes to be
redeemed in part. Also, it need not exchange or register the transfer of any Notes for a period of 15 days before the mailing of a notice of redemption of the Notes selected to be redeemed and in certain other circumstances provided in the
Indenture. 
  
 11. PERSONS DEEMED OWNERS. The registered Holder of
a Note may be treated as the owner of such Note for all purposes. 
  
 12. MERGER OR CONSOLIDATION. The Company shall not consolidate with or merge into, or transfer or lease all or substantially all of its assets, whether in a single transaction or series of related transactions to any Person unless (i) such
other Person is a corporation organized under the laws of the United States, any State thereof or the District of Columbia and such Person assumes by supplemental indenture, executed and delivered to the Trustee, in form satisfactory to the Trustee,
all of the Company’s obligations under the Indenture and the Notes, including the conversion rights; (ii) immediately after giving effect to the transaction, no Default or Event of Default shall exist; and (iii) the Company delivers to the
Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that such consolidation, merger or transfer and such supplemental indenture, if any, comply with the Indenture and the Notes. 
  
 13. AMENDMENTS, SUPPLEMENTS AND WAIVERS. Subject to certain exceptions, the
Indenture or the Notes may be amended or supplemented with the consent or vote of the Holders of at least a majority in aggregate principal amount of the Notes then outstanding, and any existing Default or Event of Default may be waived with the
consent or vote of the Holders of a majority in aggregate principal amount of the Notes then outstanding. Without notice to or the consent of any Holder, the Indenture or the Notes may be amended or supplemented to cure any ambiguity or
inconsistency, to comply with Sections 6.1 and 12.11 of the Indenture, to make any changes or modifications to the Indenture necessary in connection with the registration of the Notes under the Securities Act and the qualification of the Indenture
under the TIA, to secure the obligations of the Company in respect of the Notes, or to add to covenants of the Company described in the Indenture for the benefit of Holders or to surrender any right or power conferred upon the Company. 

 
 14. DEFAULTS AND REMEDIES. An Event of Default includes the occurrence of
any of the following: default in payment of principal at maturity, upon redemption or exercise of a repurchase right or otherwise; default for 30 days in payment of interest or other amounts due; failure by the Company for 60 days after notice to it
to comply with any of its other agreements in the Indenture or the Notes; certain payment defaults or the acceleration of other indebtedness of the Company or its Subsidiaries; certain events of bankruptcy or insolvency involving the Company or any
of the Company’s Significant Subsidiaries; and failure to provide notice upon a change of control. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate principal amount of the Notes then
outstanding may declare all the Notes to be due and payable immediately, except as provided in the Indenture. If an Event of Default specified in Sections 4.1(e) or (f) of the Indenture with respect to the Company occurs, the principal of and
accrued interest on all the Notes shall become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holder. Holders may not enforce the Indenture or the Notes except as provided in the Indenture.
The Trustee may require indemnity satisfactory to it before it enforces the Indenture or the Notes. Subject to certain limitations, Holders of a majority in principal amount of the Notes then outstanding may direct the Trustee in its exercise of any
trust or power. The Trustee may withhold from Holders notice of any continuing Default or Event of Default (except a Default or Event of Default in payment) if it determines that withholding notice is in the interests of the Holders. The Company
must furnish an annual compliance certificate to the Trustee. 
  
 15. REGISTRATION RIGHTS. The Holders are entitled to registration rights as set forth in the Registration Rights Agreement (as defined in the Indenture and attached thereto). The Holders shall be entitled to receive liquidated damages in
certain circumstances, all as set forth in the Registration Rights Agreement. 
  
 16. TRUSTEE DEALINGS WITH THE COMPANY. The Trustee under the Indenture, or any banking institution serving as successor Trustee thereunder, in its individual or any other capacity, may make loans to, accept deposits
from, and perform services for the Company or its Affiliates, and may otherwise deal with the Company or its Affiliates, as if it were not Trustee. 
  

 A-5 

 17. NO RECOURSE AGAINST OTHERS. No past, present or future director, officer, employee or shareholder, as
such, of the Company shall have any liability for any obligations of the Company under the Notes or the Indenture or for any claim based on, in respect of or by reason of such obligations or their creation. Each Holder by accepting a Note waives and
releases all such liability. The waiver and release are part of the consideration for the issue of the Notes. 
  
 18. AUTHENTICATION. This Notes shall not be valid until authenticated by the manual signature of the Trustee or an authenticating agent. 
  
 19. ABBREVIATIONS. Customary abbreviations may be used in the name of a
Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entirety), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (Uniform Gifts to Minors Act).

  
 THE COMPANY WILL FURNISH TO ANY HOLDER UPON WRITTEN REQUEST
AND WITHOUT CHARGE A COPY OF THE INDENTURE. REQUESTS MAY BE MADE TO: 
  
 AQuantive, Inc. 
 506 Second Avenue, 9th Floor 
 Seattle, Washington 98104 
 Facsimile: (206) 816-8502 
 Attention: General Counsel 
  

 A-6 

 [FORM OF ASSIGNMENT] 
  
 I or we assign to 
  
 PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER 
  

  

 (please
print or type name and address) 
  
 the within Note and all rights thereunder, and
hereby irrevocably constitutes and appoints              Attorney to transfer the Note on the books of the Company with full power of substitution in the premises. 
  
 Dated:                     
  
 NOTICE: The signature on this assignment must correspond with the name as it appears upon the face of the within Note in every particular without alteration or
enlargement or any change whatsoever and be guaranteed by a guarantor institution participating in the Securities Transfer Agents Medallion Program or in such other guarantee program acceptable to the Trustee. 
  
 Signature
Guarantee:                             
  
 In connection with any transfer of this Note occurring prior to the date which is the earlier of (i) the date of the declaration by the SEC
of the effectiveness of a registration statement under the Securities Act of 1933, as amended (the “Securities Act”) covering resales of this Note (which effectiveness shall not have been suspended or terminated at the date of the
transfer) and (ii) the Resale Restriction Termination Date, the undersigned confirms that it has not utilized any general solicitation or general advertising in connection with transfer: 
  
 [Check One] 
  

	(1)	             to the Company or any of their respective subsidiaries; or 

  

	(2)	             pursuant to and in compliance with Rule 144A under the Securities Act; or 

 

	(3)	             pursuant to the exemption from registration provided by Rule 144 under the Securities Act; or

  

	(4)	             pursuant to an effective registration statement under the Securities Act. 

 
 and unless the box below is checked, the undersigned confirms that such Security is not
being transferred to an “affiliate” of the Company as defined in Rule 144 under the Securities Act (an “Affiliate”): 
  
 [    ] The transferee is an Affiliate of the Company. (If the Note is transferred to an Affiliate, the restrictive legend must remain
on the Note for two years following the date of the transfer). 
  
 Unless one of the items is checked, the Trustee will refuse to register any of the Notes evidenced by this certificate in the name of any Person other than the registered Holder thereof; provided, however, that if item (3) or
(4) is checked, the Company or the Trustee may require, prior to registering any such transfer of the Notes, in their sole discretion, such written legal opinions, certifications and other information as the Trustee or the Company have reasonably
requested to confirm that such transfer is being made pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. 
  

 A-7 

 If none of the foregoing items are checked, the Trustee or Registrar shall not be obligated to register
this Note in the name of any person other than the Holder hereof unless and until the conditions to any such transfer of registration set forth herein and in Section 2.16 of the Indenture shall have been satisfied. 
  

							
	 Dated:
	 	  

	 	 Signed:
	 	  

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

	 Signature Guarantee:
	 	 	 	  

  
 TO BE COMPLETED BY PURCHASER IF (2)
ABOVE IS CHECKED 
  
 The undersigned represents and warrants that
it is purchasing this Note for its own account or an account with respect to which it exercises sole investment discretion and that it and any such account is a “qualified institutional buyer” within the meaning of Rule 144A under the
Securities Act of 1933, as amended, and is aware that the sale to it is being made in reliance on Rule 144A and acknowledges that it has received such information regarding the Company as the undersigned has requested pursuant to Rule 144A or has
determined transferor is relying upon the undersigned’s foregoing representations in order to claim the exemption from registration provided by Rule 144A. 
  

							
	 Dated:
                    
	 	 	 	Signed:	 	  

	 	 	 	 	 	 	NOTICE: To be executed by an executive officer

  

 A-8 

 CONVERSION NOTICE 
  

To convert this Note into Common Stock of the Company, check the box: [    ] 
  
 To convert only part of this Note, state the principal amount to be converted (must be in integral multiples of $1,000): 
  
 $
                         
  
 If you want the share certificate made out in another Person’s name, fill in the form below: 
  

	
	  

	(Insert other person’s soc. sec. or tax I.D. no.)
	  

	  

	  

	  

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

  

							
	Date:                     	 	 	 	Signatures:	 	  

	 	 	 	 	 (Sign exactly as your name(s) appear(s) on the other side of this Note)
  

	Signatures Guaranteed By:	 	  

	 	 	 	 	(All signatures must be guaranteed by a guarantor institution participating in the Securities Transfer Agents Medallion Program or in such other guarantee program acceptable to the
Trustee.)

  

 A-9 

 SCHEDULE A 
  
 SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE(1). 
  
 The following exchanges of a part of this Global Notes for an interest in another Global Note or for Notes in certificated form, have been made:

  

									
	 Date of Exchange

	 	 Amount of decrease
in Principal amount of
this Global Note

	 	 Amount of increase in
Principal amount of this
Global Note

	 	 Principal amount of this
Global Note following
such decrease (or
increase)

	 	 Signature or
authorized signatory of
Trustee or Note
 Custodian

	(1)	This is included in Global Notes only. 

  

 A-10 

 EXHIBIT B-1 
  
 RESTRICTIVE SECURITIES LEGEND FOR NOTES 
  
 “THIS NOTE (OR ITS PREDECESSOR) WAS ORIGINALLY ISSUED IN A TRANSACTION EXEMPT FROM REGISTRATION UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS
AMENDED (THE “SECURITIES ACT”), AND THIS NOTE AND THE COMMON STOCK OF LIONS GATES ENTERTAINMENT CORP. ISSUABLE UPON CONVERSION HEREOF MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN APPLICABLE
EXEMPTION THEREFROM. EACH PURCHASER OF THIS NOTE IS HEREBY NOTIFIED THAT THE SELLER OF THIS NOTE MAY BE RELYING ON THE EXEMPTION FROM THE PROVISIONS OF SECTION 5 OF THE SECURITIES ACT PROVIDED BY RULE 144A THEREUNDER. 
  
 THE HOLDER OF THIS NOTE AGREES FOR THE BENEFIT OF THE COMPANY THAT (A) THIS
NOTE AND THE COMMON STOCK OF THE COMPANY ISSUABLE UPON CONVERSION HEREOF MAY BE OFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED, ONLY (i) TO A PERSON WHOM THE SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE 144A
UNDER THE SECURITIES ACT) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (ii) PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT PROVIDED BY RULE 144 THEREUNDER (IF AVAILABLE), OR (iii) PURSUANT TO AN EFFECTIVE REGISTRATION
UNDER THE SECURITIES ACT, IN EACH OF CASES (i) THROUGH (iii) IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES, AND (B) THE HOLDER WILL, AND EACH SUBSEQUENT HOLDER IS REQUIRED TO, NOTIFY ANY PURCHASER OF THIS NOTE
FROM IT OF THE RESALE RESTRICTIONS REFERRED TO IN (A) ABOVE. IN ANY CASE THE HOLDER HEREOF WILL NOT, DIRECTLY OR INDIRECTLY, ENGAGE IN ANY HEDGING TRANSACTION WITH REGARD TO THE SECURITIES EXCEPT AS PERMITTED BY THE SECURITIES ACT. 
  
 THIS NOTE, ANY COMMON STOCK OF THE COMPANY ISSUABLE UPON CONVERSION HEREOF
AND ANY RELATED DOCUMENTATION MAY BE AMENDED OR SUPPLEMENTED FROM TIME TO TIME TO MODIFY THE RESTRICTIONS ON RESALES AND OTHER TRANSFERS OF THIS NOTE AND ANY SUCH SHARES TO REFLECT ANY CHANGE IN APPLICABLE LAW OR REGULATION (OR THE INTERPRETATION
THEREOF) OR IN PRACTICES RELATING TO THE RESALE OR TRANSFER OF RESTRICTED SECURITIES GENERALLY. THE HOLDER OF THIS NOTE AND SUCH SHARES SHALL BE DEEMED BY THE ACCEPTANCE OF THIS NOTE AND ANY SUCH SHARES TO HAVE AGREED TO SUCH AMENDMENT OR
SUPPLEMENT.” 
  

 B-1-1 

 EXHIBIT B-2 
  
 RESTRICTIVE SECURITIES LEGEND FOR COMMON STOCK 
  
 “THIS SECURITY EVIDENCED HEREBY (OR ITS PREDECESSOR) WAS ORIGINALLY ISSUED IN A TRANSACTION EXEMPT FROM REGISTRATION UNDER THE UNITED STATES
SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND THE COMMON STOCK REPRESENTED HEREBY MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN APPLICABLE EXEMPTION THEREFROM. EACH PURCHASER
HEREOF IS HEREBY NOTIFIED THAT THE SELLER HEREOF MAY BE RELYING ON THE EXEMPTION FROM THE PROVISIONS OF SECTION 5 OF THE SECURITIES ACT PROVIDED BY RULE 144A THEREUNDER. 
  
 THE HOLDER OF THIS CERTIFICATE AGREES FOR THE BENEFIT OF THE COMPANY THAT (A) THE COMMON STOCK REPRESENTED HEREBY MAY BE
OFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (i) TO A PERSON WHOM THE SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A,
(ii) PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT PROVIDED BY RULE 144 THEREUNDER (IF AVAILABLE), OR (iii) PURSUANT TO AN EFFECTIVE REGISTRATION UNDER THE SECURITIES ACT, IN EACH OF CASES (i) THROUGH (iii) IN ACCORDANCE WITH
ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES, AND (B) THE HOLDER WILL, AND EACH SUBSEQUENT HOLDER IS REQUIRED TO, NOTIFY ANY PURCHASER OF THE SECURITIES REPRESENTED HEREBY FROM IT OF THE RESALE RESTRICTIONS REFERRED TO IN (A)
ABOVE. IN ANY CASE THE HOLDER HEREOF WILL NOT, DIRECTLY OR INDIRECTLY, ENGAGE IN ANY HEDGING TRANSACTION WITH REGARD TO THE SECURITIES EXCEPT AS PERMITTED BY THE SECURITIES ACT. 
  
 THIS CERTIFICATE AND ANY RELATED DOCUMENTATION MAY BE AMENDED OR SUPPLEMENTED FROM TIME TO TIME TO MODIFY THE RESTRICTIONS
ON RESALES AND OTHER TRANSFERS OF THE SECURITIES REPRESENTED HEREBY TO REFLECT ANY CHANGE IN APPLICABLE LAW OR REGULATION (OR THE INTERPRETATION THEREOF) OR IN PRACTICES RELATING TO THE RESALE OR TRANSFER OF RESTRICTED SECURITIES GENERALLY. THE
HOLDER OF THIS CERTIFICATE SHALL BE DEEMED BY THE ACCEPTANCE HEREOF TO HAVE AGREED TO SUCH AMENDMENT OR SUPPLEMENT.” 
  

 B-2-1 

 EXHIBIT B-3 
  
 GLOBAL NOTE LEGEND 
  
 “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 MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF,
EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. 
  
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (“DTC”), A NEW YORK CORPORATION, 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 PERSONS IS WRONGFUL INASMUCH, AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.” 
  

 B-3-1 

 EXHIBIT C 
  
 FORM OF NOTICE OF TRANSFER PURSUANT TO REGISTRATION STATEMENT 
  
 AQUANTIVE, INC. 
  
 BNY WESTERN TRUST COMPANY 
 700 S. Flower Street, Suite 500 
 Los Angeles, California 90017 
 Attention: 
  

	Re:	AQUANTIVE, INC. (the “Company”) 2.25% Convertible Senior Subordinated Notes due 2024 (the “Notes”) 

  
 Ladies and Gentlemen: 
  
 Please be advised that
                     has transferred
$                     aggregate principal amount of the Notes or      Common Stock, $.01 par value per share, of
the Company issuable on conversion of the Notes (“Common Stock”) pursuant to an effective Shelf Registration Statement on Form S-3 (File No. 333-            ).

  
 We hereby certify that the prospectus delivery requirements, if any, of the
Securities Act of 1933, as amended, have been satisfied with respect to the transfer described above and that the above-named beneficial owner of the Notes or Common Stock is named as a “SELLING SECURITY HOLDER” in the Prospectus, dated
            , or in amendments or supplements thereto, and that the aggregate principal amount of the Notes, or number of Common Stock transferred are [a portion of] the Notes or
Common Stock listed in such Prospectus, as amended or supplemented, opposite such owner’s name. 
  
 Very truly yours, 
  

	
	  

	(Name)

  

 C-1 

 EXHIBIT D 
  
 FORM OF OPINION OF COUNSEL IN CONNECTION WITH 
  
 REGISTRATION OF SECURITIES 
  
 [Name] 
 [Address] 
  

	Re:	AQUANTIVE, INC. (the “Company”) 2.25% Convertible Senior Subordinated Notes due 2024 (the “Notes”) 

  
 Ladies and Gentlemen: 
  
 Reference is made to the Notes issued pursuant to the Indenture, dated as of August 24, 2004, by and between the Company and
BNY WESTERN TRUST COMPANY, as trustee (the “Trustee”). The Company issued $70,000,000 principal amount of Notes on August 24, 2004 (and an additional $10,000,000 on
[            ], if the placement agent’s over-allotment option is exercised) in transactions exempt from registration under the Securities Act of 1933, as amended (the
“Securities Act”). The Company have filed with the Securities and Exchange Commission (the “SEC”) a registration statement on Form S-3 (File No. 333-        ) (the
“Registration Statement”) relating to the registration under the Securities Act of $                     principal amount of
the Notes and the Common Stock of the Company (the “Shares”) issuable upon conversion of the Notes being registered. The Registration Statement was declared effective by order of the SEC dated
[                    ]. 
  
 We have acted as counsel for the Company in connection with the issuance of the Notes and the preparation and filing of the Registration Statement and are
familiar with the Securities, the Indenture, the Registration Statement, the above-mentioned SEC order and such other documents as are necessary to render this opinion. 
  
 Based on the foregoing, it is our opinion that (1) the Registration Statement has become effective under the Securities Act
and, to our knowledge, no stop order suspending the effectiveness of the Registration Statement has been issued, (2) assuming that the Notes covered by the Registration Statement and the Common Stock issuable upon conversion of such Notes are sold
by a relevant Holder specified in the Registration Statement in a manner specified in the Registration Statement, such sale of the Notes and Common Stock issuable upon conversion of the Notes will have been duly registered under the Securities Act,
and (3) the Indenture has been duly qualified under the Trust Indenture Act of 1939, as amended. 
  
 Yours truly, 
  

 D-1 

 EXHIBIT F 
  
 REGISTRATION RIGHTS AGREEMENT 
  

 F-1 

 TABLE OF CONTENTS 
  

							
	 	 	 	 	 	  	Page

	 ARTICLE I. DEFINITIONS AND INCORPORATION BY REFERENCE
	  	1
	 	 	SECTION 1.1	 	 DEFINITIONS
	  	1
	 	 	SECTION 1.2	 	 INCORPORATION BY REFERENCE OF TRUST INDENTURE ACT
	  	8
	 	 	SECTION 1.3	 	 RULES OF CONSTRUCTION
	  	8
		
	 ARTICLE II. THE NOTES
	  	9
	 	 	SECTION 2.1	 	 FORM AND DATING
	  	9
	 	 	SECTION 2.2	 	 EXECUTION AND AUTHENTICATION
	  	10
	 	 	SECTION 2.3	 	 REGISTRAR, PAYING AGENT AND CONVERSION AGENT
	  	10
	 	 	SECTION 2.4	 	 PAYING AGENT TO HOLD MONEY IN TRUST
	  	11
	 	 	SECTION 2.5	 	 HOLDER LISTS
	  	11
	 	 	SECTION 2.6	 	 TRANSFER AND EXCHANGE
	  	11
	 	 	SECTION 2.7	 	 REPLACEMENT NOTES
	  	11
	 	 	SECTION 2.8	 	 OUTSTANDING NOTES
	  	12
	 	 	SECTION 2.9	 	 NOTES HELD BY THE COMPANY OR AN AFFILIATE
	  	12
	 	 	SECTION 2.10	 	 TEMPORARY NOTES
	  	12
	 	 	SECTION 2.11	 	 CANCELLATION
	  	12
	 	 	SECTION 2.12	 	 DEFAULTED INTEREST
	  	13
	 	 	SECTION 2.13	 	 CUSIP NUMBERS
	  	13
	 	 	SECTION 2.14	 	 DEPOSIT OF MONEYS
	  	13
	 	 	SECTION 2.15	 	 BOOK-ENTRY PROVISIONS FOR GLOBAL NOTES
	  	13
	 	 	SECTION 2.16	 	 SPECIAL TRANSFER PROVISIONS
	  	14
	 	 	SECTION 2.17	 	 RESTRICTIVE SECURITIES LEGENDS
	  	15
		
	 ARTICLE III. SATISFACTION AND DISCHARGE
	  	15
	 	 	SECTION 3.1	 	 SATISFACTION AND DISCHARGE OF INDENTURE
	  	15
	 	 	SECTION 3.2	 	 DEPOSITED MONIES TO BE HELD IN TRUST
	  	16
	 	 	SECTION 3.3	 	 RETURN OF UNCLAIMED MONIES
	  	16
		
	 ARTICLE IV. DEFAULTS AND REMEDIES
	  	16
	 	 	SECTION 4.1	 	 EVENTS OF DEFAULT
	  	16
	 	 	SECTION 4.2	 	 ACCELERATION OF MATURITY; RESCISSION AND ANNULMENT
	  	17
	 	 	SECTION 4.3	 	 OTHER REMEDIES
	  	18
	 	 	SECTION 4.4	 	 WAIVER OF PAST DEFAULTS
	  	18
	 	 	SECTION 4.5	 	 CONTROL BY MAJORITY
	  	19
	 	 	SECTION 4.6	 	 LIMITATION ON SUIT
	  	19
	 	 	SECTION 4.7	 	 UNCONDITIONAL RIGHT OF HOLDERS TO RECEIVE PAYMENT
	  	19
	 	 	SECTION 4.8	 	 COLLECTION OF INDEBTEDNESS AND SUITS FOR ENFORCEMENT BY THE TRUSTEE
	  	19
	 	 	SECTION 4.9	 	 TRUSTEE MAY FILE PROOFS OF CLAIM
	  	20
	 	 	SECTION 4.10	 	 RESTORATION OF RIGHTS AND REMEDIES
	  	21
	 	 	SECTION 4.11	 	 RIGHTS AND REMEDIES CUMULATIVE
	  	21
	 	 	SECTION 4.12	 	 DELAY OR OMISSION NOT WAIVER
	  	21
	 	 	SECTION 4.13	 	 APPLICATION OF MONEY COLLECTED
	  	21
	 	 	SECTION 4.14	 	 UNDERTAKING FOR COSTS
	  	21
	 	 	SECTION 4.15	 	 WAIVER OF STAY OR EXTENSION LAWS
	  	22
		
	 ARTICLE V. THE TRUSTEE
	  	22
	 	 	SECTION 5.1	 	 DUTIES OF TRUSTEE
	  	22
	 	 	SECTION 5.2	 	 RIGHTS OF TRUSTEE
	  	22
	 	 	SECTION 5.3	 	 INDIVIDUAL RIGHTS OF TRUSTEE
	  	24
	 	 	SECTION 5.4	 	 TRUSTEE’S DISCLAIMER
	  	24
	 	 	SECTION 5.5	 	 NOTICE OF DEFAULTS
	  	24

  

 i 

 TABLE OF CONTENTS 
 (continued) 
  

							
	 	 	SECTION 5.6	 	 REPORTS BY TRUSTEE TO HOLDERS
	  	24
	 	 	SECTION 5.7	 	 COMPENSATION AND INDEMNITY
	  	24
	 	 	SECTION 5.8	 	 REPLACEMENT OF TRUSTEE
	  	25
	 	 	SECTION 5.9	 	 SUCCESSOR TRUSTEE BY MERGER, ETC
	  	25
	 	 	SECTION 5.10	 	 ELIGIBILITY; DISQUALIFICATION
	  	26
	 	 	SECTION 5.11	 	 PREFERENTIAL COLLECTION OF CLAIMS AGAINST ISSUER AND THE COMPANY
	  	26
		
	 ARTICLE VI. CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE
	  	26
	 	 	SECTION 6.1	 	 ISSUER OR COMPANY MAY CONSOLIDATE, ETC., ONLY ON CERTAIN TERMS
	  	26
	 	 	SECTION 6.2	 	 SUCCESSOR CORPORATION SUBSTITUTED
	  	26
		
	 ARTICLE VII. AMENDMENTS, SUPPLEMENTS AND WAIVERS
	  	27
	 	 	SECTION 7.1	 	 WITHOUT CONSENT OF HOLDERS
	  	27
	 	 	SECTION 7.2	 	 WITH CONSENT OF HOLDERS
	  	27
	 	 	SECTION 7.3	 	 COMPLIANCE WITH TRUST INDENTURE ACT
	  	28
	 	 	SECTION 7.4	 	 REVOCATION OF CONSENTS AND EFFECT OF CONSENTS OR VOTES
	  	28
	 	 	SECTION 7.5	 	 NOTATION ON OR EXCHANGE OF NOTES
	  	29
	 	 	SECTION 7.6	 	 TRUSTEE TO SIGN AMENDMENT, ETC
	  	29
		
	 ARTICLE VIII. MEETING OF HOLDERS
	  	29
	 	 	SECTION 8.1	 	 PURPOSES FOR WHICH MEETINGS MAY BE CALLED
	  	29
	 	 	SECTION 8.2	 	 CALL NOTICE AND PLACE OF MEETINGS
	  	29
	 	 	SECTION 8.3	 	 PERSONS ENTITLED TO VOTE AT MEETINGS
	  	30
	 	 	SECTION 8.4	 	 QUORUM; ACTION
	  	30
	 	 	SECTION 8.5	 	 DETERMINATION OF VOTING RIGHTS; CONDUCT AND ADJOURNMENT OF MEETINGS
	  	30
	 	 	SECTION 8.6	 	 COUNTING VOTES AND RECORDING ACTION OF MEETINGS
	  	31
		
	 ARTICLE IX. COVENANTS
	  	31
	 	 	SECTION 9.1	 	 PAYMENT OF NOTES
	  	31
	 	 	SECTION 9.2	 	 MAINTENANCE OF OFFICE OR AGENCY
	  	31
	 	 	SECTION 9.3	 	 REPORTS
	  	32
	 	 	SECTION 9.4	 	 COMPLIANCE CERTIFICATE
	  	32
	 	 	SECTION 9.5	 	 STAY, EXTENSION AND USURY LAWS
	  	32
	 	 	SECTION 9.6	 	 CORPORATE EXISTENCE
	  	32
	 	 	SECTION 9.7	 	 NOTICE OF DEFAULT
	  	33
		
	 ARTICLE X. REDEMPTION OF NOTES
	  	33
	 	 	SECTION 10.1	 	 OPTIONAL REDEMPTION
	  	33
	 	 	SECTION 10.2	 	 NOTICE TO TRUSTEE
	  	33
	 	 	SECTION 10.3	 	 SELECTION OF NOTES TO BE REDEEMED
	  	33
	 	 	SECTION 10.4	 	 NOTICE OF REDEMPTION
	  	34
	 	 	SECTION 10.5	 	 EFFECT OF NOTICES OF REDEMPTION
	  	34
	 	 	SECTION 10.6	 	 DEPOSIT OF OPTIONAL REDEMPTION PRICE
	  	35
	 	 	SECTION 10.7	 	 NOTES REDEEMED IN PART
	  	35
		
	 ARTICLE XI. REPURCHASE OF NOTES
	  	35
	 	 	SECTION 11.1	 	 HOLDER REPURCHASE RIGHT
	  	35
	 	 	SECTION 11.2	 	 NOTICES; METHOD OF EXERCISING HOLDER REPURCHASE RIGHT, ETC
	  	37
	 	 	SECTION 11.3	 	 PURCHASE AT OPTION OF HOLDER ON PURCHASE DATE
	  	39

  

 ii 

 TABLE OF CONTENTS 
 (continued) 
  

							
	 ARTICLE XII. CONVERSION OF NOTES
	  	42
	 	 	SECTION 12.1	 	 CONVERSION RIGHT AND CONVERSION PRICE
	  	42
	 	 	SECTION 12.2	 	 EXERCISE OF CONVERSION RIGHT
	  	42
	 	 	SECTION 12.3	 	 FRACTIONS OF SHARES
	  	43
	 	 	SECTION 12.4	 	 ADJUSTMENT OF CONVERSION PRICE
	  	43
	 	 	SECTION 12.5	 	 NOTICE OF ADJUSTMENTS OF CONVERSION PRICE
	  	49
	 	 	SECTION 12.6	 	 NOTICE PRIOR TO CERTAIN ACTIONS
	  	49
	 	 	SECTION 12.7	 	 COMPANY TO RESERVE COMMON STOCK
	  	50
	 	 	SECTION 12.8	 	 TAXES ON CONVERSIONS
	  	50
	 	 	SECTION 12.9	 	 COVENANT AS TO COMMON STOCK
	  	50
	 	 	SECTION 12.10	 	 CANCELLATION OF CONVERTED NOTES
	  	50
	 	 	SECTION 12.11	 	 EFFECT OF RECLASSIFICATION, CONSOLIDATION, MERGER OR SALE
	  	50
	 	 	SECTION 12.12	 	 RESPONSIBILITY OF TRUSTEE FOR CONVERSION PROVISIONS
	  	51
		
	 ARTICLE XIII. SUBORDINATION OF NOTES
	  	52
	 	 	SECTION 13.1	 	 NOTES SUBORDINATED TO SENIOR DEBT
	  	52
	 	 	SECTION 13.2	 	 NO PAYMENT ON NOTES IN CERTAIN CIRCUMSTANCES
	  	52
	 	 	SECTION 13.3	 	 PAYMENT OVER OF PROCEEDS UPON DISSOLUTION, ETC
	  	52
	 	 	SECTION 13.4	 	 SUBROGATION
	  	53
	 	 	SECTION 13.5	 	 OBLIGATIONS OF THE COMPANY UNCONDITIONAL
	  	54
	 	 	SECTION 13.6	 	 NOTICE TO TRUSTEE
	  	54
	 	 	SECTION 13.7	 	 RELIANCE ON JUDICIAL ORDER OR CERTIFICATE OF LIQUIDATING AGENT
	  	54
	 	 	SECTION 13.8	 	 TRUSTEE’S RELATION TO SENIOR DEBT
	  	55
	 	 	SECTION 13.9	 	SUBORDINATION RIGHTS NOT IMPAIRED BY ACTS OR OMISSIONS OF THE COMPANY OR HOLDERS OF SENIOR DEBT	  	55
	 	 	SECTION 13.10	 	 HOLDERS AUTHORIZE TRUSTEE TO EFFECTUATE THE SUBORDINATION OF THE NOTES
	  	55
	 	 	SECTION 13.11	 	 NOT TO PREVENT EVENTS OF DEFAULT
	  	55
	 	 	SECTION 13.12	 	 TRUSTEE’S COMPENSATION NOT PREJUDICED
	  	55
	 	 	SECTION 13.13	 	 NO WAIVER OF SUBORDINATION PROVISIONS
	  	55
	 	 	SECTION 13.14	 	 PAYMENTS MAY BE PAID PRIOR TO DISSOLUTION
	  	56
		
	 ARTICLE XIV. OTHER PROVISIONS OF GENERAL APPLICATION
	  	56
	 	 	SECTION 14.1	 	 TRUST INDENTURE ACT CONTROLS
	  	56
	 	 	SECTION 14.2	 	 NOTICES
	  	56
	 	 	SECTION 14.3	 	 COMMUNICATION BY HOLDERS WITH OTHER HOLDERS
	  	57
	 	 	SECTION 14.4	 	 ACTS OF HOLDERS
	  	57
	 	 	SECTION 14.5	 	 CERTIFICATE AND OPINION AS TO CONDITIONS PRECEDENT
	  	58
	 	 	SECTION 14.6	 	 STATEMENTS REQUIRED IN CERTIFICATE OR OPINION
	  	58
	 	 	SECTION 14.7	 	 EFFECT OF HEADINGS AND TABLE OF CONTENTS
	  	58
	 	 	SECTION 14.8	 	 SUCCESSORS AND ASSIGNS
	  	58
	 	 	SECTION 14.9	 	 SEPARABILITY CLAUSE
	  	59
	 	 	SECTION 14.10	 	 BENEFITS OF INDENTURE
	  	59
	 	 	SECTION 14.11	 	 GOVERNING LAW
	  	59
	 	 	SECTION 14.12	 	 COUNTERPARTS
	  	59
	 	 	SECTION 14.13	 	 LEGAL HOLIDAYS
	  	59
	 	 	SECTION 14.14	 	 RECOURSE AGAINST OTHERS
	  	59

  

 iii 

 CROSS REFERENCE TABLE 
  
 This Cross-Reference Table shows the location in the Indenture of the provisions inserted pursuant to Sections 310-318(a),
inclusive, of the TIA.* 
  

			
	TIA Section	  	Indenture Section
	310(a)(1)	  	5.10
	      (a)(2)	  	5.10
	      (a)(3)	  	N.A.
	      (a)(4)	  	N.A.
	      (a)(5)	  	5.10
	      (b)	  	5.10
	      (c)	  	N.A.
	311(a)	  	5.11
	      (b)	  	5.11
	      (c)	  	N.A.
	312(a)	  	2.5
	      (b)	  	14.3
	      (c)	  	14.3
	313(a)	  	5.6
	      (b)(1)	  	5.6
	      (b)(2)	  	5.6
	      (c)	  	5.6, 14.2
	      (d)	  	5.6
	 314(a)	  	9.3(b)
	      (b)	  	N.A.
	      (c)(1)	  	14.6
	      (c)(2)	  	14.6
	      (c)(3)	  	N.A.
	      (d)	  	N.A.
	      (e)	  	14.6
	315(a)	  	5.2
	      (b)	  	5.5
	      (c)	  	5.1
	      (d)	  	5.1
	      (e)	  	4.14
	316(a) (last sentence)	  	2.9
	      (a)(1)(A)	  	4.5
	      (a)(1)(B)	  	4.4
	      (a)(2)	  	N.A.
	      (b)	  	4.7
	      (c)	  	7.4
	317(a)(1)	  	4.8
	      (a)(2)	  	4.9
	      (b)	  	2.4
	318(a)	  	14.1
	N. A. means Not Applicable	  	 

	*	Note: This Cross Reference Tables shall not, for any purpose, be deemed to be part of the Indenture.Registration Rights Agreement dated August 24, 2004

 Exhibit 4.2 
  

AQUANTIVE, INC. 
  
 2.25% CONVERTIBLE SENIOR SUBORDINATED NOTES DUE 2024 
  
 REGISTRATION RIGHTS AGREEMENT 
  
 DATED AUGUST 24, 2004 

 August 24, 2004 
  

Thomas Weisel Partners LLC 
 One Montgomery Street, Suite 3700 

San Francisco, California 94104 
  
 Ladies and Gentlemen: 
  
 aQuantive, Inc., a Washington corporation (the “Company”), proposes to issue and sell to Thomas Weisel Partners (the “Initial
Purchaser”) upon the terms set forth in that certain Purchase Agreement, dated as of August 19, 2004 (the “Purchase Agreement”), $70,000,000 aggregate principal amount (plus up to an additional $10,000,000 principal amount) of its
2.25 % Convertible Senior Subordinated Notes due 2024 (the “Securities”). The Securities will be convertible into shares of the Company’s Common Stock, par value $.01 per share (the “Common Stock”), at the conversion price
set forth in the Final Offering Circular dated August 19, 2004. The Securities will be issued pursuant to an Indenture, dated as of August 24, 2004 (the “Indenture”), between the Company and BNY Western Trust Company, as trustee (the
“Trustee”). As an inducement to the Initial Purchaser to enter into the Purchase Agreement, the Company agrees with the Initial Purchaser, for the benefit of the Holders (as hereinafter defined), as follows: 
  
 1. Definitions. 
  
 (a) Capitalized terms used herein without definition shall have the meanings
ascribed to them in the Purchase Agreement. As used in this Agreement, the following defined terms shall have the following meanings: 
  
 “Affiliate” of any specified person means any other person which, directly or indirectly, is in control of, is controlled by, or is under common
control with, such specified person. For purposes of this definition, control of a person means the power, direct or indirect, to direct or cause the direction of the management and policies of such person whether by contract or otherwise; and the
terms “controlling” and “controlled” have meanings correlative to the foregoing. 
  
 “Agreement” means this Registration Rights Agreement, as the same may be amended from time to time. 
  
 “Closing Date” means the Closing Date as defined in the Purchase
Agreement. 
  
 “Commission” means the Securities and
Exchange Commission, or any other federal agency at the time administering the Exchange Act or the Securities Act, whichever is the relevant statute for the particular purpose. 
  
 “DTC” means The Depository Trust Company. 
  
 “Default Date” has the meaning assigned thereto in Section 7(b) hereof. 
  
 “Default Period” has the meaning assigned thereto in Section 7(b)
hereof. 
  

 1 

 “Default Termination Date” has the meaning assigned thereto in Section 7(b) hereof. 

 
 “Effective Time” means the time at which the Commission declares
the Shelf Registration Statement effective or at which the Shelf Registration Statement otherwise becomes effective. 
  
 “Electing Holder” has the meaning assigned thereto in Section 3(a)(iii) hereof. 
  
 “Event of Default” has the meaning assigned thereto in Section 7(a) hereof. 
  
 “Exchange Act” means the Securities Exchange Act of 1934, as
amended. 
  
 “Holder” means any person, other than DTC
or its nominee, that is the record owner of Registrable Securities and any person that has a beneficial interest in any Registrable Security issued in book-entry form. 
  
 “Liquidated Damages” has the meaning assigned thereto in Section 7(b) hereof. 
  
 “Managing Underwriters” means the investment banker(s) or
manager(s) that shall administer an underwritten offering, if any, conducted pursuant to Section 6 hereof. 
  
 “NASD Rules” means the rules of the National Association of Securities Dealers, Inc., as amended from time to time. 
  
 “Notice and Questionnaire” means a Notice of Registration Statement
and Selling Securityholder Questionnaire substantially in the form of Appendix A hereto. 
  
 The term “person” means an individual, partnership, corporation, limited liability company, trust or unincorporated organization, or a government or agency or political subdivision thereof. 
  
 “Option Closing Date” means the Option Closing Date as defined in
the Purchase Agreement. 
  
 “Prospectus” means the
prospectus (including, without limitation, any preliminary prospectus, any final prospectus and any prospectus that discloses information previously omitted from a prospectus filed as part of an effective registration statement in reliance upon Rule
430A under the Securities Act) included in the Shelf Registration Statement, as amended or supplemented by any prospectus supplement with respect to the terms of the offering of any portion of the Registrable Securities covered by the Shelf
Registration Statement and by all other amendments and supplements to such prospectus, including all material incorporated by reference in such prospectus and all documents filed after the date of such prospectus by the Company under the Exchange
Act and incorporated by reference therein. 
  
 “Registrable
Securities” means all or any portion of the Securities issued from time to time under the Indenture in registered form and the shares of Common Stock issuable upon conversion of such Securities; provided, however, that a security ceases to be a
Registrable Security when it is no longer a Restricted Security. 
  

 2 

 “Registration Expenses” shall mean any and all expenses incident to the Company’s
performance of and compliance with this Agreement, including without limitation: (i) all registration and filing fees and expenses (including, without limitation, fees and expenses (x) with respect to filings to be made pursuant to the NASD Rules
and (y) incurred in connection with compliance with state securities or blue sky laws (including reasonable fees and disbursements of counsel for any underwriters or Holders in connection with blue sky qualification of any of the Registrable
Securities)); (ii) all printing expenses (including printing certificates for the Registrable Securities in a form eligible for deposit with DTC and printing of Prospectuses) and all associated messenger, delivery and telephone charges; (iii) all
rating agency fees; (iv) all fees and disbursements relating to the qualification of the Indenture under applicable securities laws; (v) the fees and disbursements of the Trustee and its counsel; (vi) the fees and disbursements of counsel for the
Company; and (vii) the fees and disbursements of the independent public accountants of the Company, including the expenses of any special audits or “cold comfort” letters required by or incident to such performance and compliance.

  
 “Registration Period” has the meaning assigned
thereto in Section 2(b)(i) hereof. 
  
 “Restricted
Security” means any Security or share of Common Stock issuable upon conversion thereof except any such Security or share of Common Stock that (i) has been effectively registered under the Securities Act and sold in a manner contemplated by the
Shelf Registration Statement, (ii) has been transferred in compliance with Rule 144 under the Securities Act (or any successor provision thereto) or is transferable pursuant to paragraph (k) of such Rule 144 (or any successor provision thereto), or
(iii) has otherwise been transferred and a new Security or share of Common Stock not subject to transfer restrictions under the Securities Act has been delivered by or on behalf of the Company. 
  
 “Rules and Regulations” means the published rules and regulations
of the Commission promulgated under the Securities Act or the Exchange Act, as in effect at any relevant time. 
  
 “Securities Act” means the Securities Act of 1933, as amended. 
  
 “Shelf Registration Statement” means a “shelf” registration statement filed under the Securities Act
providing for the registration of, and the sale on a continuous or delayed basis by the Holders of, all of the Registrable Securities pursuant to Rule 415 under the Securities Act and/or any similar rule that may be adopted by the Commission, filed
by the Company pursuant to the provisions of Section 2 of this Agreement, including the Prospectus contained therein, any amendments and supplements to such registration statement, including post-effective amendments, and all exhibits and all
material incorporated by reference in such registration statement. 
  
 “Trust Indenture Act” means the Trust Indenture Act of 1939, as amended, or any successor thereto, and the rules, regulations and forms promulgated thereunder, as the same shall be amended from time to time. 
  
 The term “underwriter” means any underwriter of Registrable
Securities in connection with an offering thereof under the Shelf Registration Statement. 
  

 3 

 (b) Wherever there is a reference in this Agreement to a percentage of the “principal amount”
of Registrable Securities or to a percentage of Registrable Securities, Common Stock shall be treated as representing the principal amount of Securities that was surrendered for conversion or exchange in order to receive such number of shares of
Common Stock. 
  
 2. Shelf Registration. 

 
 (a) The Company shall, no later than 90 calendar days following the
Closing Date, file with the Commission a Shelf Registration Statement relating to the offer and sale of the Registrable Securities by the Holders from time to time in accordance with the methods of distribution reasonably elected by such Holders and
set forth in such Shelf Registration Statement and Rule 415 under the Securities Act and, thereafter, shall use its reasonable efforts to cause such Shelf Registration Statement to be declared effective under the Securities Act as soon as
practicable and in any event no later than 180 calendar days following the Closing Date; provided, however, that no Holder shall be entitled to be named as a selling securityholder in the Shelf Registration Statement or to use the
Prospectus forming a part thereof for resales of Registrable Securities unless such Holder is an Electing Holder. 
  
 (b) The Company shall use its reasonable efforts: 
  
 (i) to keep the Shelf Registration Statement continuously effective in order to permit the Prospectus forming a part thereof to be usable by Holders
until the earliest of: (A) the sale of all Registrable Securities covered by the Shelf Registration Statement; (B) the expiration of the period referred to in Rule 144(k) of the Securities Act, or any successor rule thereto, with respect to all
Registrable Securities (assuming for the purposes hereof that the Holders are not Affiliates of the Company); (C) the date that all of the Securities, and all of the Common Stock issued upon conversion thereof, have ceased to be outstanding (whether
as a result of repurchase and cancellation, conversion or otherwise); (D) two years from the later of the Closing Date or the Option Closing Date; and (E) the date that all of the Securities, and all of the Common Stock issuable or issued upon
conversion thereof, are no longer Registrable Securities (such period being referred to herein as the “Registration Period”). The Company shall be deemed not to have used its reasonable efforts to keep the Shelf Registration Statement
effective during the Registration Period if the Company voluntarily takes any action that would result in Holders of Registrable Securities covered thereby not being able to offer and sell any of such Registrable Securities pursuant to the Shelf
Registration Statement during that period, unless such action is (1) required by applicable law and the Company thereafter promptly complies with the requirements of Section 3(j) below, (2) permitted pursuant to Section 2(c) below or (3) required in
connection with satisfying the obligation of the Company to register up to a maximum of 90,000 shares of the Company’s common stock under the Investors’ Rights Agreement, made as of May 4, 1999, by and among the Company, certain initial
holders of the Company’s Series C Preferred Stock, Nicolas Hanauer, Michael Galgon, Scott Lipsky and R. Michael Leo (the “IRA”); 
  
 (ii) after the Effective Time, promptly upon the request of any Holder that is not then an Electing Holder, to take any action reasonably necessary to
enable such Holder to use the Prospectus forming a part thereof for resales of Registrable Securities, 
  

 4 

 including, without limitation, any action necessary to identify such Holder as a selling securityholder in the Shelf
Registration Statement as contemplated by Section 3(a)(ii) hereof; provided, however, that nothing in this subparagraph shall relieve such Holder of the obligation to return a completed and signed Notice and Questionnaire to the
Company in accordance with Section 3(a)(ii) hereof; and 
  
 (iii)
if at any time the Securities, pursuant to Article XII of the Indenture, are convertible into securities other than Common Stock, to cause, or to cause any successor under the Indenture to cause, such securities to be included in the Shelf
Registration Statement no later than the date on which the Securities may then be convertible into such securities. 
  
 (c) The Company may suspend the use of the Prospectus for a period not to exceed 45 days in any 90-day period or an aggregate of 90 days in any 365-day
period if the Board of Directors of the Company shall have determined in good faith that because of valid business reasons (not including avoidance of the Company’s obligations hereunder), including the acquisition or divestiture of assets,
pending corporate developments, filings with the Commission and similar events, it is in the best interests of the Company to suspend such use, and prior to suspending such use the Company provides the Holders with written notice of such suspension,
which notice need not specify the nature of the event giving rise to such suspension. 
  
 3. Registration Procedures. In connection with the Shelf Registration Statement, the following provisions shall apply: 
  

(a) (i) Not less than 30 calendar days prior to the Effective Time, the Company shall mail the Notice and Questionnaire to the Holders. No Holder shall
be entitled to be named as a selling securityholder in the Shelf Registration Statement as of the Effective Time, and no Holder shall be entitled to use the Prospectus for resales of Registrable Securities at any time, unless such Holder has
returned a completed and signed Notice and Questionnaire to the Company by the deadline for response set forth therein; provided, however, Holders shall have at least 28 calendar days from the date on which the Notice and Questionnaire is first
mailed to such Holders to return a completed and signed Notice and Questionnaire to the Company. 
  
 (ii) after the Effective Time, the Company shall, upon the request of any Holder that is not then an Electing Holder, promptly send a Notice and
Questionnaire to such Holder. The Company shall not be required to take any action to name such Holder as a selling securityholder in the Shelf Registration Statement or to enable such Holder to use the Prospectus for resales of Registrable
Securities until such Holder has returned a completed and signed Notice and Questionnaire to the Company. Upon receipt of a completed and signed Notice and Questionnaire, the Company shall as promptly as practicable thereafter and in any event not
later than the later of (A) ten (10) days after the date of receipt of such Notice and Questionnaire or (B) if the use of the Prospectus has been suspended by the Company under Section 2(c) hereof at the time of receipt of the Notice and
Questionnaire, ten (10) days after the expiration of the period during which the use of the Prospectus is suspended, (1) if required by applicable law, file with the Commission a post-effective amendment to the Shelf Registration Statement or
prepare and, if required by applicable law, file a supplement to the Prospectus or file any other required document so that the Holder delivering such Notice and Questionnaire is named as a selling 
  

 5 

 securityholder in the Shelf Registration Statement and the related Prospectus in such a manner as to permit such Holder
to deliver such Prospectus to purchasers of the Registrable Securities in accordance with applicable law, and (2) if the Company shall file a post-effective amendment to the Shelf Registration Statement, use its reasonable efforts to cause such
post-effective amendment to be declared effective under the Securities Act as promptly as is practicable, but in any event by the date that is thirty (30) days after the date such post-effective amendment is required by this clause to be filed.

  
 (iii) The term “Electing Holder” shall mean any
Holder that has returned a completed and signed Notice and Questionnaire to the Company in accordance with Section 3(a)(i) or 3(a)(ii) hereof. 
  
 (b) The Company shall (i) furnish to each Electing Holder, prior to the Effective Time, a copy of the Shelf Registration Statement initially filed with
the Commission, and shall furnish to such Holders, prior to the filing thereof with the Commission, copies of each amendment thereto and each amendment or supplement, if any, to the Prospectus included therein, and shall use its best efforts to
reflect in each such document, at the Effective Time or when so filed with the Commission, as the case may be, such comments as the Initial Purchaser and its counsel reasonably may propose and (ii) name the Electing Holders as selling security
holders in the Shelf Registration Statement. Any document to be furnished by the Company pursuant to this subsection (b) may be furnished by the Company to the Electing Holder by transmitting an email containing such document from the Company or an
officer thereof to the Electing Holder at the email address set forth in the completed and signed Notice and Questionnaire returned by such Electing Holder. 
  
 (c) The Company shall promptly take such action as may be necessary so that (i) the Shelf Registration Statement and any amendment thereto and the
Prospectus and any amendment or supplement thereto (and each report or other document incorporated therein by reference in each case) complies in all material respects with the Securities Act, the Exchange Act and the Rules and Regulations, (ii) the
Shelf Registration Statement and any amendment thereto does not, when it becomes effective, contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not
misleading and (iii) the Prospectus and any amendment or supplement thereto, does not at any time during the Registration Period include an untrue statement of a material fact or omit to state a material fact necessary in order to make the
statements therein, in the light of the circumstances under which they were made, not misleading. 
  
 (d) The Company shall promptly notify each Electing Holder in writing: 
  
 (i) when a Shelf Registration Statement and any amendment thereto has been filed with the Commission and when a Shelf
Registration Statement or any post-effective amendment thereto has become effective; 
  
 (ii) of any request by the Commission for amendments or supplements to the Shelf Registration Statement or the Prospectus or for additional information; 
  

 6 

 (iii) of the issuance by the Commission of any stop order suspending the effectiveness of the Shelf
Registration Statement or upon becoming aware of the initiation of any proceedings for such purpose; 
  
 (iv) if the Company receives any notification with respect to the suspension of the qualification of the securities included in the Shelf Registration
Statement for sale in any jurisdiction or the initiation of any proceeding for such purpose; and 
  
 (v) of the happening of any event or the existence of any state of facts that requires the making of any changes in the Shelf Registration Statement or
the Prospectus so that, as of such date, the Shelf Registration Statement and the Prospectus do not contain an untrue statement of a material fact and do not omit to state a material fact required to be stated therein or necessary to make the
statements therein (in the case of the Prospectus, in light of the circumstances under which they were made) not misleading. 
  
 A notice pursuant to clauses (ii) through (v) above may be accompanied by an instruction to suspend the use of the Prospectus until the requisite changes
to the Prospectus have been made or such other action is taken to remedy the fact or event that led to the suspension of the use of the Prospectus. 
  
 (e) The Company shall use its reasonable efforts: (i) to prevent the issuance of any order suspending the effectiveness of the Shelf Registration
Statement; (ii) if issued, to obtain the withdrawal of any such order at the earliest practicable time; and (iii) to provide prompt notice to each Electing Holder of the withdrawal of such order. 
  
 (f) The Company shall furnish to each Electing Holder, without charge, at
least one copy of the Shelf Registration Statement and all post-effective amendments thereto, including financial statements and schedules, and, if such Electing Holder so requests in writing, all reports, other documents and exhibits that are filed
with or incorporated by reference in the Shelf Registration Statement. 
  
 (g) The Company shall, during the Registration Period, deliver to each Electing Holder, without charge, as many copies of the Prospectus (including each preliminary prospectus) and any amendment or supplement thereto as such Electing Holder
may reasonably request. The Company consents (except during the periods specified in Section 2(c) above or during the continuance of any event described in clauses (ii) through (v) of Section 3(d) above) to the use of the Prospectus and any
amendment or supplement thereto by each of the Electing Holders in connection with the offering and sale of the Registrable Securities covered by the Prospectus and any amendment or supplement thereto during the Registration Period. 
  
 (h) The Company shall: (i) prior to any offering of Registrable Securities
pursuant to the Shelf Registration Statement, register or qualify or cooperate with the Electing Holders and their respective counsel in connection with the registration or qualification of such Registrable Securities for offer and sale under the
securities or “blue sky” laws of such jurisdictions within the United States as any Electing Holder may reasonably request; (ii) keep such registrations or qualifications in effect and comply with such laws so as to permit the continuance
of offers and sales in such jurisdictions for so long as may be necessary to enable 
  

 7 

 any Electing Holder or underwriter, if any, to complete its distribution of Registrable Securities pursuant to the Shelf
Registration Statement; and (iii) take any and all other actions necessary or advisable to enable the disposition in such jurisdictions of such Registrable Securities; provided, however, that in no event shall the Company be obligated to (A) qualify
as a foreign corporation or as a dealer in securities in any jurisdiction where it would not otherwise be required to so qualify but for this Section 3(h), (B) file any general consent to service of process in any jurisdiction where it is not then
so subject or (C) subject itself to taxation in any such jurisdiction if it is not so subject. 
  
 (i) Except with respect to Registrable Securities in book-entry only form, the Company shall cooperate with the Electing Holders to facilitate the timely preparation and delivery of certificates representing
Registrable Securities to be sold pursuant to the Shelf Registration Statement, which shall be free of any restrictive legends and in such denominations and registered in such names as the Electing Holders may request a reasonable period of time
prior to sales of such Registrable Securities pursuant to the Shelf Registration Statement. 
  
 (j) Upon the occurrence of any fact or event contemplated by clauses (ii) through (v) of Section 3(d) above during the Registration Period, the Company shall promptly prepare a post-effective amendment to the Shelf
Registration Statement or an amendment or supplement to the related Prospectus or any document incorporated therein by reference or file any other required document or take such other action so that, (A) with respect to clauses (ii) through (iv) of
Section 3(d), the fact or event which has led to the suspension of the use of the Prospectus is remedied, and (B) with respect to clause (v) of Section 3(d), as thereafter delivered to purchasers of the Registrable Securities included therein, the
Prospectus will not include an untrue statement of a material fact or omit to state any material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading. If the Company provides
notice to the Electing Holders of the occurrence of any fact or event contemplated by clauses (ii) through (v) of Section 3(d) above (which notice must specify the nature of the fact or event underlying the notice, except in the case of a notice
with respect to clause (v) of Section 3(d)) along with an instruction to suspend the use of the Prospectus, the Electing Holder shall suspend the use of the Prospectus until the requisite changes to the Prospectus have been made or such other action
is taken to remedy the fact or event that led to the suspension of the use of the Prospectus. 
  
 (k) Not later than the Effective Time, the Company shall provide a CUSIP number for the Registrable Securities that are debt securities. 
  
 (l) The Company will comply with all Rules and Regulations to the extent and so long as they are applicable to the Shelf
Registration Statement and will make generally available to its securityholders (or otherwise provide in accordance with Section 11(a) of the Securities Act) an earnings statement satisfying the provisions of Section 11(a) of the Securities Act, no
later than 45 days after the end of a 12-month period (or 90 days, if such period is a fiscal year) beginning with the first month of the Company’s first fiscal quarter commencing after the effective date of the Shelf Registration Statement,
which statement shall cover such 12-month period. For purposes of this paragraph, the term “effective date” with respect to the Shelf Registration Statement shall have the meaning assigned to it in paragraph (c) of Rule 158 (or any
successor provision thereto) under the Securities Act. 
  

 8 

 (m) Not later than the Effective Time, the Company shall cause the Indenture to be qualified under the
Trust Indenture Act. In connection with such qualification, the Company shall cooperate with the Trustee and the Holders (as defined in the Indenture) to effect such changes to the Indenture as may be required for such Indenture to be so qualified
in accordance with the terms of the Trust Indenture Act; and the Company shall execute, and shall use its reasonable efforts to cause the Trustee to execute, all documents that may be required to effect such changes and all other forms and documents
required to be filed with the Commission to enable such Indenture to be so qualified in a timely manner. In the event that any such amendment or modification referred to in this Section 3(m) involves the appointment of a new trustee under the
Indenture, the Company shall appoint a new trustee thereunder pursuant to the applicable provisions of the Indenture. 
  
 (n) The Company shall enter into such customary agreements (including an underwriting agreement in customary form in the event of an underwritten
offering) and take all other appropriate action in order to expedite and facilitate the registration and disposition of the Registrable Securities. 
  
 (o) The Company shall: (i) make available for inspection by the Electing Holders, any underwriter participating in any disposition pursuant to the Shelf
Registration Statement, and any attorney, accountant or other agent retained by such Electing Holders or any such underwriter, at reasonable times and in a reasonable manner, all relevant financial and other records, pertinent corporate documents
and properties of the Company and its subsidiaries; and (ii) cause the Company’s officers, directors and employees to supply all information reasonably requested by such Electing Holders or any such underwriter, attorney, accountant or agent in
connection with the Shelf Registration Statement, in each case, as is customary for similar due diligence examinations; provided, that such inspection and information gathering shall, to the greatest extent possible, be coordinated by one
counsel designated by and on behalf of the Electing Holders and other parties. 
  
 (p) The Company will use its reasonable efforts to cause the Common Stock issuable upon conversion of the Securities to be listed for quotation on the Nasdaq National Market System or other stock exchange or trading
system on which the Common Stock primarily trades on or prior to the 60th calendar day following the Closing Date. 
  
 (q) In the event that any broker-dealer registered under the Exchange Act shall underwrite, participate as a member of an underwriting syndicate or
selling group or assist in the distribution of any Registrable Securities covered by the Shelf Registration Statement, whether as an Electing Holder or as an underwriter, a placement or sales agent or a broker or dealer in respect thereof, or
otherwise, the Company shall assist such broker-dealer in complying with the requirements of the NASD Rules, including, without limitation, by (i) if the NASD Rules shall so require, engaging a “qualified independent underwriter” (as
defined in Rule 2720 of the NASD Rules (or any successor provision thereto)) to participate in the preparation of the registration statement relating to such Registrable Securities, to exercise usual standards of due diligence in respect thereto and
to recommend the public offering price of such Registrable Securities, (B) indemnifying any such qualified independent underwriter to the extent of the indemnification of underwriters provided in Section 5 hereof, and (C) providing such information
to such broker-dealer as may be required in order for such broker-dealer to comply with the requirements of the NASD Rules. 
  

 9 

 (r) The Company shall use its reasonable efforts to take all other steps necessary to effect the
registration, offering and sale of the Registrable Securities covered by the Shelf Registration Statement contemplated hereby. 
  
 (s) The Company may require each Electing Holder to furnish to the Company such information regarding the Electing Holder and the distribution of the
Registrable Securities as the Company may from time to time reasonably request for inclusion in the Shelf Registration Statement, and the Company may exclude from such registration the Registrable Securities of any Electing Holder that unreasonably
fails to furnish such information within a reasonable time after receiving such request. 
  
 4. Registration Expenses. The Company will bear all Registration Expenses incurred in connection with the performance of its obligations hereunder. The Company will also bear or reimburse the Electing Holders
for the reasonable fees and disbursements of Gray Cary Ware & Freidenrich LLP, as counsel for the Holders in connection with the Shelf Registration Statement. Each Electing Holder shall pay all underwriting discounts and commissions and transfer
taxes, if any, and, subject to the preceding sentence, the expenses of its own counsel, relating to the sale or disposition of such Electing Holder’s Registrable Securities pursuant to the Shelf Registration Statement. 
  
 5. Indemnification and Contribution. 
  
 (a) Indemnification by the Company. The Company agrees to indemnify
and hold harmless each Electing Holder and each person, if any, who controls any Electing Holder within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, from and against any and all losses, claims, damages
and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) caused by any untrue statement or alleged untrue statement of a material fact
contained in the Shelf Registration Statement or any amendment thereof, any preliminary prospectus or the Prospectus (as amended or supplemented if the Company shall have furnished any amendments or supplements thereto), or caused by any omission or
alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages or liabilities are caused by any such untrue statement or
omission or alleged untrue statement or omission based upon information relating to any Electing Holder furnished to the Company in writing by such Electing Holder expressly for use in the Shelf Registration Statement, any amendment thereof, any
preliminary prospectus, the Prospectus or any amendments or supplements thereto. In connection with any underwritten offering permitted hereunder, the Company will also indemnify the underwriters, their officers and directors and each person who
controls such underwriters (within the meaning of the Securities Act and the Exchange Act) to the same extent as provided above with respect to the indemnification of the Electing Holders, if requested by such Electing Holders. 
  

 10 

 (b) Indemnification by the Electing Holders. Each Electing Holder agrees, severally and not
jointly, to indemnify and hold harmless the Company, the directors of the Company, the officers of the Company who sign the Shelf Registration Statement and each person, if any, who controls the Company within the meaning of either Section 15 of the
Securities Act or Section 20 of the Exchange Act from and against any and all losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any
such action or claim) caused by any untrue statement or alleged untrue statement of a material fact contained in the Shelf Registration Statement or any amendment thereof, any preliminary prospectus or the Prospectus (as amended or supplemented if
the Company shall have furnished any amendments or supplements thereto), or caused by any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, but
only with reference to information relating to such Electing Holder furnished to the Company in writing by such Electing Holder expressly for use in the Shelf Registration Statement, any amendment thereof, any preliminary prospectus, the Prospectus
or any amendments or supplements thereto. In no event shall the liability of any Electing Holder hereunder be greater in amount than the dollar amount of the proceeds received by such Electing Holder from the sale of such Electing Holder’s
Registrable Securities (after deducting any fees, discounts and commissions applicable thereto) pursuant to the Shelf Registration Statement. 
  
 (c) Indemnification Procedures. In case any proceeding (including any governmental investigation) shall be instituted involving any person in
respect of which indemnity may be sought pursuant to this Section 5, such person (the indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying party”) in writing and the
indemnifying party, upon request of the indemnified party, shall retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying party may designate in such proceeding and shall pay
the fees and disbursements of such counsel related to such proceeding. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such
indemnified party unless (i) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel or (ii) the named parties to any such proceeding (including any impleaded parties) include both the
indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them. It is understood that the indemnifying party shall not, in
respect of the legal expenses of any indemnified party in connection with any proceeding or related proceedings in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to any local counsel) for all
indemnified parties, and that all such fees and expenses shall be reimbursed as they are incurred. In the case of any such separate firm for the Electing Holders and such control persons of any Electing Holders, such firm shall be designated in
writing by the Electing Holders holding a majority of the Registrable Securities covered by the Shelf Registration Statement. In the case of any such separate firm for the Company and such directors, officers and control persons of the Company, such
firm shall be designated in writing by the Company. The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the
plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at 
  

 11 

 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 the second and third sentences of this paragraph, 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 thirty (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 prior to the date of such
settlement. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity
could have been sought hereunder by such indemnified party, unless such settlement includes an unconditional release of such indemnified party from all liability on claims that are the subject matter of such proceeding. 
  
 (d) Contribution Agreement. To the extent the indemnification provided
for in paragraph (a) or paragraph (b) of this Section 5 is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such paragraph, in lieu
of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities in such proportion as is appropriate to reflect the relative fault
of the indemnifying party or parties on the one hand and of the indemnified party or parties on the other hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant
equitable considerations. The relative fault of the Company on the one hand and the Electing Holders on the other hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the
omission or alleged omission to state a material fact relates to information supplied by the Company or by the Electing Holders and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such
statement or omission. The Electing Holders’ respective obligations to contribute pursuant to this Section 5(d) are several in proportion to the respective principal amount of Registrable Securities of each such Electing Holder that were
registered pursuant to the Shelf Registration Statement, and not joint. 
  
 (e) Contribution Amounts. The Company and the Electing Holders agree that it would not be just or equitable if contribution pursuant to Section 5(d) were determined by pro rata allocation (even if the Electing Holders were treated as
one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 5(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages
and liabilities referred to in Section 5(d) shall be deemed to include, subject to the limitations set forth above, 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 5, no Electing Holder shall be required to contribute any amount in excess of the amount by which the total price at which Registrable Securities sold by such Electing Holder exceeds
the amount of any damages that such Electing Holder 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.  
  

 12 

 (f) Remedies Not Exclusive. The remedies provided for in this Section 5 are not exclusive and
shall not limit any rights or remedies that may otherwise be available to any indemnified party at law or in equity. 
  
 (g) Survival of Provisions. The indemnity and contribution provisions contained in this Section 5 shall remain operative and in full force and
effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any Electing Holder or any person controlling any Electing Holder, or by or on behalf of the Company, its officers or directors or any person
controlling the Company and (iii) any sale of the Registrable Securities pursuant to the Shelf Registration Statement. 
  
 6. [Reserved.] 
  
 7. Liquidated Damages. 
  
 (a) The occurrence of any of the following will constitute an “Event of Default” hereunder: 
  
 (i) the Company fails to file a Shelf Registration Statement with the
Commission on or prior to the 90th calendar day following the Closing Date; 
  
 (ii) such Shelf Registration Statement is not declared effective by the Commission on or prior to the 180th calendar day following the Closing Date; 
  
 (iii) the Company fails to file a post-effective amendment to the Shelf Registration Statement, or the post-effective
amendment is not declared effective, within the periods required by Section 3(a)(ii) hereof; 
  
 (iv) the Shelf Registration Statement ceases to be effective for any reason (or the Company prevents or restricts Holders from effecting sales pursuant thereto) for more than 45 days, whether or not consecutive, in
any 90-day period, or for more than 90 days, whether or not consecutive, during any 365-day period. In calculating the 45 or 90 day period, days on which the Company has been obligated to pay Liquidated Damages in respect of a prior Event of Default
under this clause (iv) within the applicable 90-day or 365-day period, as the case may be, shall not be included; or 
  
 (v) the Company becomes obligated, under the IRA or otherwise, to register on the Shelf Registration Statement more than 90,000 shares of Common Stock
held by persons or entities not a party to this Agreement. 
  
 (b)
Upon the occurrence of any Event of Default, the Company shall be required to pay liquidated damages (“Liquidated Damages”) at a rate per annum equal to (i) one-quarter of one percent (0.25%) of the aggregate principal amount of
Registrable Securities, from and including the Default Date (as hereinafter defined) through and including the first to occur of (x) the Default Termination Date (as hereinafter defined) (the “Default Period”) and (y) the 90th calendar day
following the Default Date and (ii) one-half of one percent (0.50%) of the aggregate principal amount of Registrable Securities, from and including the 91st calendar day following the Default Date through and including the Default Termination Date.
The term “Default Date” 
  

 13 

 shall mean: (i) with respect to clause (i) of Section 7(a) above, the 91st calendar day following the Closing Date; (ii)
with respect to clause (ii) of Section 7(a) above, the 181st calendar day following the Closing Date; (iii) with respect to clause (iii) of Section 7(a) above, the first day following the date upon which the post-effective amendment was required to
be filed or declared effective, as the case may be, pursuant to Section 3(a)(ii) above; (iv) with respect to clause (iv) of Section 7(a) above, the 46th day of such 90-day period or the 91st day of such 365-day period, as the case may be; and (v)
with respect to clause (v) of Section 7(a) above, the first day following the date on which the Shelf Registration Statement is declared effective by the SEC, where the Shelf Registration Statement registers for resale more than 90,000 shares of
Common Stock held by persons or entities not a party to this Agreement. The term “Default Termination Date” shall mean (x) with respect to clauses (i) through (iii) of Section 7(a) above, the date the Shelf Registration Statement or the
post-effective amendment, as the case may be, is either so filed or so filed and subsequently declared effective, as the case may be, (y) with respect to clause (iv) of Section 7(a) above, the date the Shelf Registration Statement again becomes
effective or the Holders of Registrable Securities are again able to make sales under the Shelf Registration Statement, and (z) with respect to clause (v) of Section 7(a) above, the date the number of shares of Common Stock held by persons or
entities not a party to this Agreement and registered for resale under the Shelf Registration Statement falls below 90,000. Notwithstanding the foregoing, no Liquidated Damages shall accrue as to any Registrable Security from and after the earlier
of (1) the date such security is no longer a Registrable Security and (2) the expiration of the Registration Period. 
  
 (c) Any amounts to be paid as Liquidated Damages shall be paid semi-annually in arrears, with the first semi-annual payment due on the first Interest
Payment Date (as defined in the Indenture) following the applicable Default Date. In determining the amount of Liquidated Damages to be paid with respect to shares of Common Stock issued upon conversion of the Securities, the rate set forth in
Section 7(b) hereof shall be applied to the Conversion Price(s) (as defined in the Indenture) in effect during the applicable Default Period. 
  
 (d) Except as provided in Section 8(b) hereof, the Liquidated Damages shall be the exclusive monetary remedy available to the Holders for Events of
Default. In no event shall the Company be required to pay Liquidated Damages in excess of the applicable maximum amount of one-half of one percent (0.50%) set forth above, regardless of whether one or multiple Events of Default exist. 
  
 8. Miscellaneous. 
  
 (a) Other Registration Rights. It is hereby acknowledged and agreed
by the Initial Purchaser, each Holder and each Electing Holder that registration rights have been granted by the Company pursuant to the IRA, and that, subject to Section 7, such registration rights may be exercised in connection with, and the
Company may perform any of its obligations and covenants under the IRA arising in connection with or relating to, any registration undertaken pursuant to this Agreement, provided that the number of shares of Common Stock registered pursuant to any
registration undertaken pursuant to this Agreement will not exceed 90,000 without the prior written consent of the Initial Purchaser. Such consent, if given, will not affect the application of the provisions set forth in Section 7. 
  

 14 

 (b) Specific Performance. The parties hereto acknowledge that there would be no adequate remedy at
law if the Company fails to perform any of its obligations hereunder and that the Initial Purchaser and the Holders from time to time may be irreparably harmed by any such failure, and accordingly agree that the Initial Purchaser and such Holders,
in addition to any other remedy to which they may be entitled at law or in equity and without limiting the remedies available to the Electing Holders under Section 7 hereof, shall be entitled to compel specific performance of the obligations of the
Company under this Agreement in accordance with the terms and conditions of this Agreement, in any court of the United States or any State thereof having jurisdiction. 
  
 (c) Amendments and Waivers. The provisions of this Agreement may not be amended, modified or supplemented, and
waivers or consents to departures from the provisions hereof may not be given, except by the Company and the written consent of the Holders of a majority in principal amount of the Registrable Securities then outstanding (provided that holders of
Common Stock issued upon conversion of Securities shall not be deemed holders of Common Stock, but shall be deemed to be holders of the aggregate principal amount of Securities from which such Common Stock was converted). Each Holder of Registrable
Securities outstanding at the time of any such amendment, waiver or consent or thereafter shall be bound by any amendment, modification, supplement, waiver or consent effected pursuant to this Section 8(b). 
  
 (d) Notices. All notices and other communications provided for or
permitted hereunder shall be given as provided in the Indenture. 
  
 (e) Parties in Interest. The parties to this Agreement intend that all Holders of Registrable Securities shall be entitled to receive the benefits of this Agreement and that any Electing Holder shall be bound by the terms and
provisions of this Agreement by reason of such election with respect to the Registrable Securities which are included in a Shelf Registration Statement. All the terms and provisions of this Agreement shall be binding upon, shall inure to the benefit
of and shall be enforceable by the respective successors and assigns of the parties hereto and any Holder from time to time of the Registrable Securities. In the event that any transferee of any Holder shall acquire Registrable Securities, in any
manner, whether by gift, bequest, purchase, operation of law or otherwise, such transferee shall, without any further writing or action of any kind, be entitled to receive the benefits of and, if an Electing Holder, be conclusively deemed to have
agreed to be bound by and to perform all of the terms and provisions of this Agreement to the aforesaid extent. 
  
 (f) Counterparts. This Agreement may be signed in any number of counterparts, each of which shall be an original, with the same effect as if the
signatures thereto and hereto were upon the same instrument. 
  
 (g) Headings. The headings of the sections of this Agreement have been inserted for convenience of reference only and shall not be deemed a part of this Agreement. 
  
 (h) Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE
STATE OF NEW YORK APPLICABLE TO AGREEMENTS MADE AND TO BE PERFORMED IN SUCH STATE. 
  

 15 

 (i) Partial Enforceability. The invalidity or unenforceability of any section, paragraph or
provision of this Agreement shall not affect the validity or enforceability of any other section, paragraph or provision hereof. If any section, paragraph or provision of this Agreement is for any reason determined to be invalid or unenforceable,
there shall be deemed to be made such minor changes (and only such minor changes) as are necessary to make it valid and enforceable. 
  
 (i) Survival. The respective indemnities, agreements, representations, warranties and other provisions set forth in this Agreement or made pursuant
hereto shall remain in full force and effect, regardless of any investigation (or any statement as to the results thereof) made by or on behalf of any Electing Holder, any director, officer or partner of such Holder, or any controlling person of any
of the foregoing, and shall survive the transfer and registration of the Registrable Securities of such Holder. 
  
 Please confirm that the foregoing correctly sets forth the agreement between the Company and you. 
  

			
	 Very truly yours,
  
 aQuantive, Inc.

		
	 By:
	 	 /s/ Brian McAndrews

	 Name:
	 	 Brian McAndrews

	 Title:
	 	 President and Chief Executive Officer

  

			
	 Accepted as of the date hereof

		
	 By:
	 	 Thomas Weisel Partners LLC

		
	 By:
	 	 /s/ Patrick Prendergast

	 Name:
	 	 Patrick Prendergast

	 Title:
	 	 Partner

  

 16 

 APPENDIX A 
  

AQUANTIVE, INC. 
  
 INSTRUCTION TO DTC PARTICIPANTS 
  
 [Mailing Date] 
  
 URGENT - IMMEDIATE ATTENTION REQUESTED 
  
 DEADLINE FOR RESPONSE: [DATE] 
  
 The Depository Trust Company (“DTC”) has identified you as a DTC Participant through which beneficial interests in the aQuantive, Inc. (the “Company”) 2.25% Convertible Senior Subordinated Notes
due 2024 (the “Securities”) are held. 
  
 The Company has filed a
registration statement under the Securities Act of 1933, as amended, to allow the beneficial owners to resell the Securities. Beneficial owners must complete and return the enclosed Notice of Registration Statement and Selling Securityholder
Questionnaire in order to have their Securities included in the registration statement. 
  
 It is important that you deliver a copy of the enclosed materials to the beneficial owners of the Securities as soon as possible. The beneficial owners’ right to participate as a selling securityholder under the
registration statement is conditioned upon their returning the Notice and Questionnaire by [Response Deadline]. Please forward a copy of the enclosed documents to each beneficial owner that holds interests in the Securities through you. If
you require more copies of the enclosed materials or have any questions pertaining to this matter, please contact [                    ].

  

 A-1 

 AQUANTIVE, INC. 
  
 Notice of Registration Statement 
  
 and 
  
 Selling Securityholder Questionnaire 
  
 [Date] 
  
 aQuantive, Inc. (the “Company”) has filed with the Securities and Exchange Commission (the “Commission”) a registration statement on Form [    ] (the “Shelf
Registration Statement”) for the registration and resale under Rule 415 of the Securities Act of 1933, as amended (the “Securities Act”) of the Company’s 2.25% Convertible Senior Subordinated Notes due 2024 (the
“Securities”) and the shares of common stock, par value $0.01 per share (the “Common Stock”), issuable upon conversion of the Securities, in accordance with the terms of that certain Registration Rights Agreement, dated as of
August 24, 2004 (the “Registration Rights Agreement”, a true and correct copy of which is attached hereto), by and between the Company and the Initial Purchaser. All capitalized terms used and not otherwise defined herein shall have the
meanings given them in the Registration Rights Agreement. 
  
 Each beneficial
owner of Registrable Securities is entitled to the benefits of the Registration Rights Agreement. In order to sell or otherwise dispose of any Registrable Securities pursuant to the Shelf Registration Statement, a beneficial owner of Registrable
Securities generally will be required to be named as a selling securityholder in the related prospectus, deliver a prospectus to each purchaser of Registrable Securities and be bound by those provisions of the Registration Rights Agreement
applicable to such beneficial owner (including certain indemnification provisions, as described below). 
  
 If you wish to include the Registrable Securities beneficially owned by you in the Shelf Registration Statement (or a supplement or amendment thereto), you must complete, sign and deliver this Notice of
Registration Statement and Selling Securityholder Questionnaire (“Notice and Questionnaire”) to the Company at the address set forth herein for receipt ON OR BEFORE [DEADLINE FOR RESPONSE]. If you fail to do so, you will not
be named as a selling securityholder in the Shelf Registration Statement and may not use the Prospectus forming a part thereof to resell the Registrable Securities that you hold. 
  
 Please be aware that various legal consequences arise from being named as a selling securityholder in the Shelf Registration Statement and
the Prospectus. We strongly advise you to consult your own securities law counsel regarding the consequences of being named or not being named as a selling securityholder in the Shelf Registration Statement and the Prospectus. 
  
 The term “Registrable Securities” is defined in the Registration Rights Agreement
to mean all or any portion of the Securities issued from time to time under the Indenture in registered form and the shares of Common Stock issuable upon conversion of such Securities; provided, however, that a security ceases to be a
Registrable Security when it is no longer a Restricted Security. 
  

 A-2 

 The term “Restricted Security” is defined in the Registration Rights Agreement to mean any Security or share of
Common Stock issuable upon conversion thereof except any such Security or share of Common Stock that (i) has been effectively registered under the Securities Act and sold in a manner contemplated by the Shelf Registration Statement, (ii) has been
transferred in compliance with Rule 144 under the Securities Act (or any successor provision thereto) or is transferable pursuant to paragraph (k) of such Rule 144 (or any successor provision thereto), or (iii) has otherwise been transferred and a
new Security or share of Common Stock not subject to transfer restrictions under the Securities Act has been delivered by or on behalf of the Company. 
  
 ELECTION 
  
 The undersigned beneficial owner (the “Selling Securityholder”) of Registrable Securities hereby elects to include in the Shelf Registration Statement the Registrable Securities beneficially owned by it and
listed below in Item (3). By signing and returning this Notice and Questionnaire, the undersigned agrees to be bound with respect to such Registrable Securities by the terms and conditions of this Notice and Questionnaire and the Registration Rights
Agreement, including, without limitation, the indemnification provisions set forth in the Registration Rights Agreement. The Selling Securityholder hereby agrees to deliver to the Company and the Trustee the Notice of Transfer set forth in Exhibit 1
to this Notice and Questionnaire following any sale of Registrable Securities pursuant to the Shelf Registration Statement. 
  
 The Selling Securityholder hereby provides the following information to the Company and represents and warrants that such information is accurate and complete:

  

 A-3 

 QUESTIONNAIRE 
  
 (1) (a) Full legal name of Selling Securityholder: 
  

			
	 	 	  

	(b)	 	 Full legal name of registered holder (if not the same as in (a) above) of Registrable Securities listed in Item (3) below:
  

	(c)	 	 Full legal name of DTC Participant (if applicable and if not the same as (b) above) through which Registrable Securities listed in Item (3) below are
held:
  

  
 (2) Address for notices to Selling
Securityholder: 
  

			
	  

	  

	  

	 Telephone:
	 	  

	 Fax:
	 	  

	 Contact person:
	 	  

	 Email address:
	 	  

  
 (3) Beneficial ownership of
Securities: 
  
 Except as set forth below in this Item (3),
the undersigned Selling Securityholder does not beneficially own any Securities or shares of Common Stock issued upon conversion of any Securities. 
  

			
	(a)	  	Principal amount of Registrable Securities (as defined in the Registration Rights Agreement) beneficially owned:
                                        
                        
	CUSIP No(s). of such Registrable Securities:
                                        
                    
	 	  	Number of shares of Common Stock (if any) issued upon conversion, repurchase or redemption of Registrable Securities:
                                        
                
	(b)	  	Principal amount of Securities other than Registrable Securities beneficially owned:
	CUSIP No(s). of such other Securities:
                                        
                
	 	  	Number of shares of Common Stock (if any) issued upon conversion of such other Securities:
                                        
                    
	(c)	  	Principal amount of Registrable Securities that the undersigned wishes to be included in the Shelf Registration Statement:
                                        
                
	CUSIP No(s). of such Registrable Securities:
                                        
                
	 	  	Number of shares of Common Stock (if any) issued upon conversion of Registrable Securities that are to be included:
                                        
                    

  

 A-4 

 (4) Beneficial ownership of other securities of the Company: 
  
 Except as set forth below in this Item (4), the undersigned Selling
Securityholder is not the beneficial or registered owner of any shares of Common Stock or any other securities of the Company, other than the Securities and shares of Common Stock listed above in Item (3). 
  
 State any exceptions here: 
  

	
	  

	  

	  

  
 (5) Broker-Dealer
Status: 
  
 Is the Selling Securityholder a registered broker
dealer? Yes   ̈    No   ̈ 
  
 Note that in general we
will be required to identify any registered broker-dealer as an underwriter in the prospectus. 
  
 (6) Affiliation with Broker-Dealers: 
  
 Is the Selling Securityholder an affiliate1 of a registered broker-dealer? Yes   ̈    No   ̈ 
  
 If so, please answer the remaining questions in this section. 
  

			
	(a)	 	Please describe the affiliation between the Selling Securityholder and any registered broker-dealers:
	 	 	  

	 	 	  

	 	 	  

		
	(b)	 	If the Registrable Securities were purchased by the Selling Securityholder other than in the ordinary course of business, please describe the circumstances:
	 	 	  

	 	 	  

	 	 	  

		
	(c)	 	If the Selling Securityholder, at the time of its purchase of Registrable Securities, has had any agreements or understandings, directly or indirectly, with any person to distribute the
Registrable Securities, please describe such agreements or understandings:
	 	 	  

	 	 	  

	 	 	  

	1	An “affiliate” of a specified person or entity means a person or entity that directly, or indirectly through one or more intermediaries, controls or is
controlled by, or is under common control with, the person or entity specified. 

  

 A-5 

 Note that if the Selling Securityholder is an affiliate of a broker-dealer and did not purchase its
Registrable Securities in the ordinary course of business or at the time of the purchase had any agreements or understandings, directly or indirectly, to distribute the securities, we must identify the Selling Securityholder as an underwriter in the
prospectus. 
  

	(7)	Beneficial Ownership by Natural Persons: 

  
 If the Selling Securityholder is an entity, does any natural person have voting or investment power over the Registrable Securities held by the Selling
Securityholder?2 Yes   ̈    No   ̈ 
  
 If so, please state that person’s or persons’ name(s): 

 
  

  

  

  

	(8)	Relationships with the Company: 

  
 Except as set forth below, neither the Selling Securityholder nor any of its affiliates, officers, directors or principal equity holders (5% or more)
has held any position or office or has had any other material relationship with the Company (or its predecessors or affiliates) during the past three years. 
  
 State any exceptions here: 
  

	
	

	  

	  

  

	(9)	Plan of distribution: 

  
 Except as set forth below, the undersigned Selling Securityholder intends to distribute the Registrable Securities listed above in Item (3) only as
follows (if at all): Such Registrable Securities may be sold from time to time directly by the undersigned Selling Securityholder or, alternatively, through underwriters, broker-dealers or agents. Such Registrable Securities may be sold in one or
more transactions at fixed prices, at prevailing market prices at the time of sale, at varying prices determined at the time of sale, or at negotiated prices. Such sales may be effected in transactions (which may involve crosses or block
transactions) (i) on any national securities exchange or quotation service on which the Registrable Securities may be listed or quoted at the time of sale, (ii) in the over-the-counter market, (iii) in transactions 

	2	Please answer “Yes” if any natural person, directly or indirectly, through any
contract, arrangement, understanding, relationship, or otherwise has or shares: (a) voting power which includes the power to vote, or to direct the voting of, such security; and/or, (b) investment power which includes the power to dispose, or to
direct the disposition of, the Registrable Securities held by the Selling Securityholder. 

  

 A-6 

 otherwise than on such exchanges or services or in the over-the-counter market, or (iv) through the
writing of options. In connection with sales of the Registrable Securities or otherwise, the Selling Securityholder may enter into hedging transactions with broker-dealers, which may in turn engage in short sales of the Registrable Securities in the
course of hedging the positions they assume. The Selling Securityholder may also sell Registrable Securities short and deliver Registrable Securities to close out such short positions, or loan or pledge Registrable Securities to broker-dealers that
in turn may sell such securities. 
  
 State any exceptions
here: 
  

	
	

	  

	  

  
 The Selling Securityholder
acknowledges that it understands its obligation to comply, and agrees that it will comply, with the prospectus delivery and other provisions of the Securities Act and the Exchange Act and the rules and regulations thereunder, particularly Regulation
M (or any successor rules and regulations). 
  
 The Selling Securityholder
acknowledges its obligations under the Registration Rights Agreement to indemnify and hold harmless certain persons as set forth therein. 
  
 In the event that the Selling Securityholder transfers all or any portion of the Registrable Securities listed in Item (3) above after the date on which such information
is provided to the Company, the Selling Securityholder agrees to notify the transferee(s) at the time of the transfer of its rights and obligations under this Notice and Questionnaire and the Registration Rights Agreement. By signing below, the
Selling Securityholder consents to the disclosure of the information contained herein in its answers to Items (1) through (9) above and the inclusion of such information in the Shelf Registration Statement and the Prospectus. The Selling
Securityholder understands that such information will be relied upon by the Company in connection with the preparation of the Shelf Registration Statement and the Prospectus. 
  
 In accordance with the Selling Securityholder’s obligation under the Registration Rights Agreement to provide such information as may
be required by law for inclusion in the Shelf Registration Statement, the Selling Securityholder agrees to promptly notify the Company of any inaccuracies or changes in the information provided herein that may occur subsequent to the date hereof at
any time while the Shelf Registration Statement remains effective. All notices hereunder and pursuant to the Registration Rights Agreement shall be made in writing, by hand-delivery, first-class mail, or air courier guaranteeing overnight delivery
to the address below. 
  
 Once this Notice and Questionnaire is executed by the
Selling Securityholder and received by the Company, the terms of this Notice and Questionnaire, and the representations and warranties contained herein, shall be binding on, shall inure to the benefit of and shall be enforceable by the respective
successors, heirs, personal representatives, and assigns of the Company and the Selling Securityholder (with respect to the Registrable Securities beneficially owned by such Selling Securityholder and listed in Item (3) above). This Agreement shall
be governed in all respects by the laws of the state of New York applicable to agreements made and to be performed in such state. 
  
 [Remainder of page intentionally left blank] 
  

 A-7 

 IN WITNESS WHEREOF, the undersigned, by authority duly given, has caused this Notice and Questionnaire to be executed and
delivered either in person or by its duly authorized agent. 
  
 Dated:
                     
  

			
	  

 Selling Securityholder

	 (Print/type full legal name of beneficial owner of Registrable Securities)

		
	 By:
	 	  

	 Name:
	 	 
	 Title:
	 	 

  
 PLEASE RETURN
THE COMPLETED AND EXECUTED NOTICE AND QUESTIONNAIRE TO THE COMPANY AT: 
  

	
	  

	  

	  

	  

	  

  

 A-8 

 Exhibit 1 
 to Appendix A 
  
 NOTICE
OF TRANSFER PURSUANT TO REGISTRATION STATEMENT 
  
 aQuantive, Inc. 

506 Second Avenue, 9th Floor

 Seattle, WA 98104 
 Attention: General Counsel 
  
 BNY Western Trust Co. 
 700 S. Flower St., Suite 500 
 Los Angeles, CA 90017 
 Attention: Corporate Trust Department 
  

	 	Re:	aQuantive, Inc. (the “Company”) 

 2.25% Convertible Senior Subordinated Notes due 2024 (the “Securities”) 
  
 Dear Sirs: 
  
 Please be advised that
[                    ] has transferred
$[                ] aggregate principal amount of the above-referenced Securities or shares of the Company’s common stock, issued upon conversion of
the Securities, pursuant to an effective Registration Statement on Form S-3 (File No. 333-[            ]) filed by the Company. 
  
 We hereby certify that the prospectus delivery requirements, if any, of the Securities Act of
1933, as amended, have been satisfied with respect to the transfer described above and that the above-named beneficial owner of the Securities or common stock is named as a selling securityholder in the Prospectus dated [date], or in
amendments or supplements thereto, and that the aggregate principal amount of the Securities or number of shares of common stock transferred are [a portion of] the Securities or shares of common stock listed in such Prospectus as amended or
supplemented opposite such owner’s name. 
  
 Dated: 
  

			
	 	 	 Very truly yours,

	 	 	  

	 	 	 (Name)

		
	 By:
	 	  

	 	 	 (Authorized Signature)

  

 A-9 

 TABLE OF CONTENTS 
  

							
	 	  	 	 	 	  	Page

	 1.
	  	Definitions	  	1
			
	 2.
	  	Shelf Registration	  	4
			
	 3.
	  	Registration Procedures	  	5
			
	 4.
	  	Registration Expenses	  	10
			
	 5.
	  	Indemnification and Contribution	  	10
	 	  	(a)	 	Indemnification by the Company	  	10
	 	  	(b)	 	Indemnification by the Electing Holders	  	11
	 	  	(c)	 	Indemnification Procedures	  	11
	 	  	(d)	 	Contribution Agreement	  	12
	 	  	(e)	 	Contribution Amounts	  	12
	 	  	(f)	 	Remedies Not Exclusive	  	13
	 	  	(g)	 	Survival of Provisions	  	13
			
	 7.
	  	Liquidated Damages	  	13
			
	 8.
	  	Miscellaneous	  	14

  

 -i-

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