Document:

Warrant Agreement

 Exhibit 10.1 
  
 NEITHER THIS WARRANT NOR THE SHARES OF COMMON STOCK ISSUABLE UPON EXERCISE HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR
APPLICABLE STATE SECURITIES LAW, AND MAY NOT BE SOLD, PLEDGED OR OTHERWISE TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR RECEIPT BY THE COMPANY OF AN OPINION OF COUNSEL (WHICH COUNSEL SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY) IN THE FORM,
SUBSTANCE AND SCOPE REASONABLY ACCEPTABLE TO THE COMPANY STATING THAT THE PROPOSED SALE, PLEDGE OR TRANSFER IS EXEMPT FROM REGISTRATION UNDER THE ACT AND ALL APPLICABLE STATE SECURITIES LAWS. 
  
 For the Purchase of 
 50,000 shares of Common Stock 
  
 DATE OF WARRANT: January 21, 2004 
  
 WARRANT
FOR THE PURCHASE OF 
 SHARES OF COMMON STOCK OF 
 ACTION PRODUCTS INTERNATIONAL, INC. 
 (A Florida corporation) 
  
 FOR VALUE RECEIVED, Action Products International, Inc.
(“Company”), hereby certifies that Elite Financial Communications Group, LLC (“Holder”), or his, her or its Permitted Transferees with its principal executive offices located at 605 Crescent Executive Court, Suite 124, Lake Mary,
Florida 32746 is entitled, subject to the terms set forth below, to purchase from the Company, at any time or from time to time during the period commencing on the date hereof and expiring on the earlier of (i) January 20, 2007 or (ii) the date two
(2) years from the date the Securities and Exchange Commission declares effective a registration statement registering the offer and sale by the Holder of the Warrant Shares (as defined herein) under the Securities Act (as defined herein) Fifty
Thousand (50,000) shares of Common Stock, par value $.001 per share, of the Company (“Common Stock”), at a purchase price equal to Four Dollars ($4.00) per share (the “Warrant”). The number of shares of Common Stock purchasable
upon exercise of this Warrant, and the purchase price per share, each as adjusted from time to time pursuant to the provisions of this Warrant, are hereinafter referred to as the “Warrant Shares” and the “Exercise Price,”
respectively. 
  
 1. EXERCISE 
  
 (a) Procedure for Exercise. This Warrant may be
exercised by the Holder, in whole or in part, by the surrender of this Warrant (with the Notice of Exercise form attached hereto duly executed by such Holder) at the principal office of the Company, or at such other office or agency as the Company
may designate, accompanied by payment to the Company of the Exercise Price multiplied by the number of Warrant Shares to be purchased (“Aggregate Purchase Price”) (i) in cash, (ii) by certified check, (iii) by wire transfer, or (iv) by a
combination of (i), (ii) and (iii). 
  
 (b)
Date of Exercise. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the day on which this Warrant, together with the Notice of Exercise form attached hereto duly executed by such
Holder or Permitted Transferee shall have been surrendered to the Company. At such time, the person or persons in whose name or names any certificates for Warrant Shares shall be issuable upon such exercise shall be deemed to have become the holder
or holders of record of the Warrant Shares represented by such certificates. 
  
 (c) Issuance of Certificate. As soon as practicable after the exercise of the purchase right represented by this Warrant, and in any event within ten (10) business days thereafter, the Company at its expense

  

 
will use its best efforts to cause to be issued in the name of, and delivered to, the Holder, or, subject to the terms and conditions hereof, to such other
individual or entity as such Holder (upon payment by such Holder of any applicable transfer taxes) may direct (i) a certificate or certificates for the number of full shares of Warrant Shares to which such Holder shall be entitled upon such exercise
plus, in lieu of any fractional share to which such Holder would otherwise be entitled, an additional share as determined pursuant to Section 3 hereof, and (ii) in case such exercise is in part only, a new Warrant or Warrants (dated the date hereof)
of like tenor, stating on the face or faces thereof the number of shares currently stated on the face of this Warrant minus the number of such shares purchased by the Holder upon such exercise as provided in Section 1(a) above. The Company covenants
and agrees that it will pay when due any and all state and federal issue taxes which may be payable in respect of the issuance of this Warrant or the issuance of any Warrant Shares upon exercise of this Warrant. 
  
 2. ADJUSTMENTS. 
  
 (a) Split, Subdivision or Combination of Shares. If
the outstanding shares of the Company’s Common Stock at any time while this Warrant remains outstanding and unexpired shall be subdivided or split into a greater number of shares, or a dividend in Common Stock shall be paid in respect of Common
Stock, the Exercise Price in effect immediately prior to such subdivision or at the record date of such dividend shall, simultaneously with the effectiveness of such subdivision or split or immediately after the record date of such dividend (as the
case may be), shall be proportionately decreased. If the outstanding shares of Common Stock shall be combined or reverse-split into a smaller number of shares, the Exercise Price in effect immediately prior to such combination or reverse split
shall, simultaneously with the effectiveness of such combination or reverse split, be proportionately increased. When any adjustment is required to be made in the Exercise Price, the number of Warrant Shares purchasable upon the exercise of this
Warrant shall be changed to the number determined by dividing (i) an amount equal to the number of shares issuable upon the exercise of this Warrant immediately prior to such adjustment, multiplied by the Exercise Price in effect immediately prior
to such adjustment, by (ii) the Exercise Price in effect immediately after such adjustment. 
  
 (b) Reclassification Reorganization, Consolidation or Merger. In the case of any reclassification of the Common Stock (other than a
change in par value or a subdivision or combination as provided for in Section 2(a) above), or any reorganization, consolidation or merger of the Company with or into another corporation (other than a merger or reorganization with respect to which
the Company is the continuing corporation and which does not result in any reclassification of the Common Stock), or a transfer of all or substantially all of the assets of the Company, or the payment of a liquidating distribution then, as part of
any such reorganization, reclassification, consolidation, merger, sale or liquidating distribution, lawful provision shall be made so that the Holder of this Warrant shall have the right thereafter to receive upon the exercise hereof, the kind and
amount of shares of stock or other securities or property which such Holder would have been entitled to receive if, immediately prior to any such reorganization, reclassification, consolidation, merger, sale or liquidating distribution, as the case
may be, such Holder had held the number of shares of Common Stock which were then purchasable upon the exercise of this Warrant. In any such case, appropriate adjustment (as reasonably determined by the Board of Directors of the Company) shall be
made in the application of the provisions set forth herein with respect to the rights and interests thereafter of the Holder of this Warrant such that the provisions set forth in this Section 2 (including provisions with respect to the Exercise
Price) shall thereafter be applicable, as nearly as is reasonably practicable, in relation to any shares of stock or other securities or property thereafter deliverable upon the exercise of this Warrant. 
  
 (c) No Limitations on the Company. This Warrant shall
not affect or limit in any way the right or power of the Company to make adjustments, reclassifications, reorganizations or changes of its capital or business structure or to merge, consolidate, dissolve or liquidate, or to sell or transfer all or
any part of its business or assets. Nothing herein shall be construed as creating any limitations upon the right and authority of the Board of Directors of the Company to adopt such incentive compensation arrangements (which arrangements may be
applicable either generally to a class or classes of individuals or specifically to a particular individual or 

  

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individuals) as the Board of Directors in its discretion determines desirable, including, without limitation, the granting of stock options or stock
appreciation rights. 
  
 (d) No
Impairment. The Company will not, by amendment of its Certificate of Incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities or any other voluntary action, avoid or seek to
avoid the observance or performance of any of the terms to be observed or performed hereunder by the Company but will at all times in good faith assist in the carrying out of all the provisions of this Section 2 and in the taking of all such actions
as may be necessary or appropriate in order to protect against impairment of the rights of the Holder of this Warrant to adjustments in the Exercise Price. 
  
 3. FRACTIONAL SHARES. The Company shall not be required to issue fractions of shares of Common Stock upon exercise. If any fractions of a share
would, but for this Section 3, be issuable upon any exercise, in lieu of such fractional share the Company shall round up to the nearest whole number. 
  
 4. LIMITATION ON SALES. Each holder of this Warrant acknowledges that this Warrant and the Warrant Shares, as of the date of original issuance of
this Warrant, have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), and agrees not to sell, pledge, distribute, offer for sale, transfer or otherwise dispose of this Warrant or any Warrant Shares
issued upon its exercise in the absence of (a) an effective registration statement under the Securities Act as to this Warrant or such Warrant Shares or (b) an opinion of counsel, reasonably acceptable to the Company, that such registration and
qualification are not required. The Warrant Shares issued upon exercise thereof shall be imprinted with a legend in substantially the following form: 
  
 “THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR
APPLICABLE STATE SECURITIES LAW, AND MAY NOT BE SOLD, PLEDGED OR OTHERWISE TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR RECEIPT BY THE COMPANY OF AN OPINION OF COUNSEL (WHICH COUNSEL SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY) IN THE FORM,
SUBSTANCE AND SCOPE REASONABLY ACCEPTABLE TO THE COMPANY STATING THAT THE PROPOSED SALE, PLEDGE OR TRANSFER IS EXEMPT FROM REGISTRATION UNDER THE ACT AND ALL APPLICABLE STATE SECURITIES LAWS.” 
  
 The Holder hereof and the Company agree to execute such other documents and instruments as
the Company reasonably deems necessary to effect the compliance of the issuance of this Warrant and any shares of Common Stock issued upon exercise hereof with applicable federal and state securities laws. 
  
 The Company covenants and agrees that (i) all Warrant Shares which may be issued upon
exercise of the Warrant, upon issuance, shall be fully paid and nonassessable and free from all taxes, liens and charges with respect to the issuance thereof; (ii) the Company will not close its books against the exercise of the Warrant or the
transfer of the Common Stock issued or issuable upon exercise of the Warrant in any manner which would interfere with the timely exercise of the Warrant; and (iii) the Company will at all times reserve and keep available out of its authorized Common
Stock, solely for the purpose of effecting the exercise of the Warrant, the full number of shares of Common Stock which would be deliverable upon the exercise of the Warrant. 
  
 5. TRANSFER OF WARRANT. This Warrant may not be transferred, in whole or in part, whether by operation
of law or otherwise, to any person or business entity, without the prior written consent of the Company, and any assignment to the contrary shall be null and void and of no force and effect. Notwithstanding the foregoing, but subject to the
provisions of Section 4, the Holder may transfer the Warrant or a portion thereof to one or more trusts established for the exclusive benefit of such Holder and/or one or more of the Holder’s spouse, children, grandchildren, parents, siblings,
nieces or nephews (collectively, “Permitted Transferees”), or at 

  

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death to the Holder’s estate, to any of the Holder’s Permitted Transferees, or to one or more trusts all of the beneficiaries of which are one or
more of the Holder’s Permitted Transferees; provided, however, that any such transferee shall hold the transferred Warrant subject to the terms and conditions of this Agreement. Any transfer permitted by the immediately preceding sentence shall
be made by presentation of the Warrant to the Company with written instructions for such transfer, including evidence that the transfer is permitted hereunder. Upon such presentation for transfer, the Company shall promptly execute and deliver a new
Warrant or Warrants in the form hereof in the name of the assignee or assignees and in the denominations specified in such instructions. The Company shall pay all expenses incurred by it in connection with the preparation, issuance and delivery of
Warrants as permitted under this Section. 
  
 6.
GENERAL RESTRICTIONS. The Company shall not be required to sell or issue any Warrant Shares under this Warrant if the sale or issuance of such Warrant Shares would constitute a violation by the individual exercising the Warrant or by the
Company of any provision of any law or regulation of any governmental authority, including without limitation any federal or state securities laws or regulations. If at any time the Company shall determine, in its discretion, that the listing,
registration, or qualification of any Warrant Shares subject to the Warrant upon any securities exchange or under any state or federal law, or the consent or approval of any government regulatory body, is necessary or desirable as a condition of, or
in connection with, the issuance or purchase of Warrant Shares hereunder, the Warrant may not be exercised in whole or in part unless such listing, registration, qualification, consent, or approval shall have been effected or obtained free of any
conditions not acceptable to the Company, and any delay caused thereby shall in no way affect the date of termination of the Warrant. Specifically, in connection with the Securities Act, unless a registration statement under the Securities Act is in
effect with respect to the Warrant Shares covered by the Warrant, the Company shall not be required to sell or issue such Warrant Shares unless the Company has received evidence satisfactory to it that the holder of the Warrant may acquire such
Warrant Shares pursuant to an exemption from registration under the Securities Act. Any determination in this connection by the Company shall be final, binding, and conclusive. Except as provided herein, the Company may, but shall in no event be
obligated to, register any securities covered hereby pursuant to the Securities Act. The Company shall not be obligated to take any affirmative action in order to cause the exercise of the Warrant or the issuance of Warrant Shares pursuant thereto
to comply with any law or regulation of any governmental authority. As to any jurisdiction that expressly imposes the requirement that the Warrant shall not be exercisable unless and until the Warrant Shares covered by the Warrant are registered or
are subject to an available exemption from registration, the exercise of the Warrant (under circumstances in which the laws of such jurisdiction apply) shall be deemed conditioned upon the effectiveness of such registration or the availability of
such an exemption. The Warrant shall not be exercisable unless the Holder shall have received all required regulatory approvals with respect to ownership of the Warrant Shares to be issued upon such exercise. 
  
 7. REPLACEMENT OF WARRANTS. Upon receipt of evidence reasonably
satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant and (in the case of loss, theft or destruction) upon delivery of an indemnity agreement (with surety if reasonably required) in an amount reasonably
satisfactory to the Company, or (in the case of mutilation) upon surrender and cancellation of this Warrant, the Company will issue, in lieu thereof, a new Warrant of like tenor. 
  
 8. TRANSFERS. The Company will maintain a register containing the names and addresses of the Holders of this Warrant.
Any Holder may change its, his or her address as shown on the warrant register by written notice to the Company requesting such change. Until any transfer of this Warrant is made in the warrant register, the Company may treat the Holder of this
Warrant as the absolute owner hereof for all purposes; provided, however, that if and when this Warrant is properly assigned in blank, the Company may (but shall not be obligated to) treat the bearer hereof as the absolute owner hereof for all
purposes, notwithstanding any notice to the contrary. 
  

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 9. PAYMENT OF TAXES. The Holder agrees to promptly pay in cash to the Company, upon demand,
any taxes that the Company (or any affiliate of the Company) may be required to withhold or collect in connection with any exercise of the Warrant. 
  
 10. CERTAIN NOTICES 
  
 (a) Notice of Adjustment. Upon any adjustment of the Exercise Price, the Company shall forthwith give written notice thereto to the
Holder of this Warrant describing the event requiring the adjustment, stating the adjusted Exercise Price and the adjusted number of shares purchasable upon the exercise hereof resulting from such event, and setting forth in reasonable detail the
method of calculation and the facts upon which such calculation is based. 
  
 (b) Notices of Record Date. In case: (i) the Company shall take a record of the holders of its Common Stock (or other stock or securities at the time deliverable upon the exercise of this Warrant) for the
purpose of entitling or enabling them to receive any dividend or other distribution, or to receive any right to subscribe for or purchase any shares of any class or any other securities, or to receive any other right, or (ii) of any capital
reorganization of the Company, any reclassification of the capital stock of the Company, any consolidation or merger of the Company with or into another corporation (other than a consolidation or merger in which the Company is the surviving entity),
or any transfer of all or substantially all of the assets of the Company, or (iii) of the voluntary or involuntary dissolution, liquidation or winding-up of the Company, then, and in each such case, the Company will mail or cause to be mailed to the
Holder of this Warrant a notice specifying, as the case may be, (i) the date on which a record is to be taken for the purpose of such dividend, distribution or right, and stating the amount and character of such dividend, distribution or right, or
(ii) the effective date on which such reorganization, reclassification, consolidation, merger, transfer, dissolution, liquidation or winding-up is to take place, and the time, if any is to be fixed, as of which the holders of record of Common Stock
(or such other stock or securities at the time deliverable upon the exercise of this Warrant) shall be entitled to exchange their shares of Common Stock (or such other stock or securities) for securities or other property deliverable upon such
reorganization, reclassification, consolidation, merger, transfer, dissolution, liquidation or winding-up. Such notice shall be mailed at least ten (10) days prior to the notice shall not affect the legality or validity of any such action.

  
 (c) Form and Delivery Requirements.
All notices, demands, requests, or other communications which may be or are required to be given, served, or sent by any party to any other party pursuant to this Warrant (“Notices”) shall be in writing and shall be provided or given in
one of the following five ways: (i) personal delivery, (ii) overnight courier service which provides a receipt acknowledging delivery, (iii) express mail or registered mail, return receipt requested, (iv) first class or priority mail, or (v)
facsimile transmission. All such Notices shall be deemed to have been so provided or given as follows: (a) provided or given by personal delivery—upon actual delivery to or refusal to accept delivery by party of the Notice, (b) provided or
given by overnight courier service which provides a receipt acknowledging delivery—upon actual delivery to or refusal to accept delivery by party of the Notice during normal business hours, (c) provided or given by express mail or registered
mail, return receipt requested—upon actual delivery to or refusal to accept delivery by party of the Notice during normal business hours, (d) provided or given by first class or priority mail—the date and time the party who is the sender
receives from party who is a recipient a statement or acknowledgement signed by receiving party that such party received the Notice, and (e) provided or given by facsimile transmission—the date and time party who is transmitting the Notice by
facsimile receives from the party who is receiving the Notice a statement or acknowledgment signed by such party that the Notice was received by facsimile transmission. Notices to a party shall be addressed to such party at its following address and
facsimile number, or at such other address and facsimile number, and to the attention of such other officers or individuals as it may from time to time designate to the other parties in writing: 
  

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 (i) If to the Company: 
  
 Action Products International, Inc. 
 Attn: Chief Financial Officer 
 390 N. Orange Ave., Suite 2185 
 Orlando, Florida 32801 
 Facsimile No.:
(407) 481-2781 
  
 with a copy to: 

 
 Tarter Krinsky & Drogin LLP 
 Attn: James G. Smith, Esq. 
 470 Park Avenue
South, 14th Floor 
 New York, New York 10016 
 Facsimile No.: (212) 481-9062 
  
 (ii) If to Holder, the address of the Holder as maintained
on the books and records of the Company, 
  
 or to such other address as may be
designated by a party in a notice to the other. Each notice, demand, request or communication that shall be given or made in the manner described above shall be deemed sufficiently given or made for all purposes at such time as it is delivered to
the addressee (with the return receipt, the delivery receipt, the affidavit of messenger or (with respect to a facsimile) the facsimile confirmation report being deemed conclusive but not exclusive evidence of such delivery) or at such time as
delivery is refused by the addressee upon presentation. 
  
 11.
REGISTRATION RIGHTS. 
  
 11.1 Piggyback Registration.

  
 (a) Right to Piggyback. If (i) the
Company proposes to register any of its Common Stock under the Securities Act except for offerings pursuant to registration statements relating to employee benefit plans or with respect to corporate reorganization or other transactions under Rule
145 of the Securities Act or otherwise registered on Form S-4 under the Securities Act (a “Qualified Public Offering”) and (ii) the registration form to be used may be used for the registration of the Holder Registrable Securities (a
“Piggyback Registration”), the Company will at least thirty (30) days prior to a Qualified Public Offering give written notice to the Holder of its intention to effect such a public offering. If the Holder desires to dispose of any of the
Holder Registrable Securities (as defined below) in the public offering, it shall provide written notice thereof to the Company within fifteen (15) days after the receipt of any such notice, specifying the Holder Registrable Securities intended to
be disposed of by the Holder. Subject to Section 11.1(b), the Company will use its commercially reasonable efforts to effect the registration under the Securities Act of all Holder Registrable Securities which the Company has been so requested to
register by the Holder on the same terms and conditions as the securities otherwise being sold in such registration, to the extent requisite to permit the disposition of the Holder Registrable Securities requested to be so registered. Nothing in
this Section 11.1 shall prevent the Company from abandoning, at any time, an offering under which the Holder has requested a Piggyback Registration. 
  
 (b) Priority in Piggyback Registrations. When a registration pursuant to this Section 11.1 involves an underwritten offering of the
securities so being registered, whether or not for sale for the account of the Company, to be distributed by or through one or more underwriters, if the managing underwriter of such underwritten offering informs the Company in writing of its belief
that the number of securities requested to be included in such registration exceeds the number which can be sold in (or during the time of) such offering without adversely affecting the price to be received thereon, then the Company will include in
such registration, to the extent of the number which the Company is so advised can be sold in (or during the time of) such offering, 

  

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first, all securities proposed by the Company to be sold for its own account or all securities (other than Holder Registrable Securities) proposed by the
Company to be sold for the account of the holders thereof who had requested such registration, as the case may be; second, other registrable securities with priority over the Registrable Securities (based on the Company’s agreements with the
holders thereof); third, such Holder Registrable Securities requested to be included in such registration so proposed to be sold and so requested to be included; and fourth, other securities requested to be included in such registration, in such
proportion as the Company may determine (based upon its agreements with the holders thereof). The Company agrees that any such determination is to be made solely by the managing underwriter and the Company agrees that it will act in good faith in
seeking to have sold in the offering all of the shares requested to be sold. 
  
 11.2 Registration Procedures. If, whenever and to the extent that the Company is required to use commercially reasonable efforts to effect the registration of any Holder Registrable Securities under the
Securities Act as provided in Section 11.1, the Company will as expeditiously as possible: 
  
 (i) prepare and file with the Commission the requisite registration statement to effect such registration and thereafter use commercially
reasonable efforts to cause such registration statement to become and remain effective for a period of two (2) years or, if earlier, until all of such Holder Registrable Securities have been disposed of, provided that the Company may discontinue any
registration of its securities at any time prior to the effective date of the registration statement relating thereto; 
  
 (ii) prepare and file with the Commission such amendments and supplements to such registration statement and the prospectus used in
connection therewith as may be necessary to keep such registration statement effective for the period set forth in Section 11.3(i) above; 
  
 (iii) furnish to Holder such number of conformed copies of such registration statement and of each such amendment and supplement thereto
(in each case including all exhibits), such number of copies of the prospectus contained in such registration statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the
Securities Act, in conformity with the requirements of the Securities Act, and such other documents as Holder may reasonably request in order to dispose of the Holder Registrable Securities; 
  
 (iv) use commercially reasonable efforts to register or
qualify all Holder Registrable Securities and other securities covered by such registration statement under such other securities or blue sky laws of such United States jurisdictions as Holder shall reasonably request, to keep such registration or
qualification in effect for so long as such registration statement remains in effect, except that the Company shall not for any such purpose (a) be required to qualify generally to do business as a foreign corporation in any jurisdiction, (b) to
subject itself to taxation in any such jurisdiction or (c) to consent to general service of process in any such jurisdiction; 
  
 (v) notify Holder, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon discovery
that, or upon the happening of any event as a result of which, the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated
therein or necessary to make the statements therein not misleading in the light of the circumstances under which they were made; and 
  
 (vi) use its commercially reasonable efforts to furnish, on the date that such Registrable Securities are delivered to the underwriters
for sale, if such securities are being sold through underwriters, (i) an opinion, dated as of such date, of the counsel representing the Company for the purposes of such registration, in form and substance as is customarily given to underwriters in
an underwritten public offering, addressed to the underwriters, if any, and (ii) a letter dated as of such date, from the independent certified public 

  

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accountants of the Company, in form and substance as is customarily given by independent certified public accountants to underwriters in an underwritten
public offering addressed to the underwriters. 
  
 11.3
Holdback Agreements. If, in connection with an underwritten public offering of shares of Common Stock of the Company registered pursuant to the Securities Act, the managing underwriter for such registration shall so request, the Holder shall not
sell, make any short sale of, grant any option for the purchase of, or otherwise dispose of any Holder Registrable Securities (other than those Holder Registrable Securities included in such registration) without the prior written consent of the
Company for a period designated by the Company in writing to the Holder, which period shall begin not more than thirty (30) days prior to the date the Company has fixed plans to file the registration statement pursuant to which such public offering
shall be made and shall not last more than one hundred eighty (180) days (or such other period as the officers and directors of the Company shall determine) after the effective date of such registration statement while this Warrant remains
outstanding and unexpired. 
  
 11.4 Copies of Registration
Statements. The Company shall promptly provide the Holder with copies of all registration statements the Company files with the Commission under the Securities Act during the term of this Warrant Agreement. 
  
 11.5 Indemnification. 
  
 (a) Indemnification by the Company. In the event of
any registration of any Holder Registrable Securities under the Securities Act, to the extent permitted by law, the Company will indemnify and hold harmless Holder, its officers and directors, each underwriter for Holder, and each other Person, if
any, who controls any of the foregoing Persons within the meaning of the Securities Act against any losses, claims, damages or liabilities, joint or several (“Losses”), to which the Holder or any such director or officer or underwriter or
controlling Person may become subject under the Securities Act or otherwise, insofar as such Losses (or actions or proceedings, whether commenced or threatened, in respect thereof) arise out of or are based upon (i) any untrue statement or alleged
untrue statement of any material fact contained in any registration statement under which such securities were registered under the Securities Act, (ii) any preliminary prospectus, final prospectus or summary prospectus contained therein, or any
amendment or supplement thereto or any document incident to registration or qualification of any Holder Registrable Securities, (iii) the omission or alleged omission to state therein a material fact required to be stated therein or necessary to
make the statements therein not misleading or, with respect to any prospectus, necessary to make the statements therein in light of the circumstances under which they were made not misleading, or (iv) any violation by the Company of the Securities
Act or state securities or blue sky laws applicable to the Company and relating to action or inaction required of the Company in connection with such registration or qualification under such state securities or blue sky laws (clauses (i) – (iv)
above referred to hereafter as, a “Violation”); provided (i) that the Company shall not be liable in any such case to the extent that any such Losses (or action or proceeding in respect thereof) or expense arises out of or is based upon an
untrue statement or alleged untrue statement or omission or alleged omission made in such registration statement, any such preliminary prospectus, final prospectus, summary prospectus, amendment or supplement in reliance upon and in conformity with
written information furnished to the Company for use in connection with such registration; (ii) that the Company shall not be liable to any Person who participates as an underwriter in the offering or sale of Holder Registrable Securities or any
other Person, if any, who controls such underwriter within the meaning of the Securities Act, in any such case to the extent that any such Losses (or action or proceeding in respect thereof) or expense arises out of such Person’s failure to
send or give a copy of the final prospectus, as the same may be then supplemented or amended, to the Person asserting a Violation at or prior to the written confirmation of the sale of Holder Registrable Securities to such Person if such Violation
was corrected in such final prospectus; and (iii) that the Company shall not be liable for any amounts paid in settlement of any Losses or action if such settlement is effected without the consent of the Company. Such indemnity shall remain in full
force and effect regardless of any investigation made by or on behalf of such seller 

  

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or any such director, officer, underwriter or controlling Person and shall survive the transfer of such securities by such seller. 
  
 (b) Indemnification by Holder. In the event of any
registration of the Holder Registrable Securities under the Securities Act, to the extent permitted by law, the Holder will indemnify and hold harmless the Company, each director of the Company, each officer of the Company and each other Person, if
any, who controls the Company within the meaning of the Securities Act, any underwriter and any other Person selling securities under such registration statement or any of such other Person’s partners, directors or officers or any Person who
controls such Person, against any Losses, to which the Company or any such director, officer, controlling Person, underwriter, or such director, officer or controlling Person of such Person may become subject under the Securities Act or Exchange Act
or other federal or state law, if such Losses arise out of or relate to a Violation that arose out of or related to the Company’s reliance upon written information furnished to the Company about the Holder for use in the preparation of such
registration. Such indemnity shall remain in full force and effect, regardless of any investigation made by or on behalf of the Company or any such director, officer or controlling Person and shall survive the transfer of such securities by the
Holder. 
  
 (c) Notices of Claims, Etc.
Promptly after receipt by an indemnified party of notice of the commencement of any action or proceeding involving a claim referred to in the preceding subdivisions of this Section 11.5, such indemnified party will, if a claim in respect thereof is
to be made against an indemnifying party, give written notice to the latter of the commencement of such action, provided that the failure of any indemnified party to give notice as provided herein shall not relieve the indemnifying party of its
obligations under the preceding subdivisions of this Section 11.5, except to the extent that the indemnifying party is actually prejudiced by such failure to give notice. In case any such action is brought against an indemnified party, unless in
such indemnified party’s reasonable judgment a conflict of interest between such indemnified and indemnifying parties may exist in respect of such claim, the indemnifying party shall be entitled to participate in and to assume the defense
thereof, jointly with any other indemnifying party similarly notified to the extent that it may wish, with counsel reasonably satisfactory to such indemnified party, and after notice from the indemnifying party to such indemnified party of its
election so to assume the defense thereof, the indemnifying party shall not be liable for any settlement made by the indemnified party without its consent (which consent will not be unreasonably withheld) or for any legal or other expenses
subsequently incurred by the indemnified party in connection with the defense thereof other than reasonable costs of investigation. No indemnifying party shall, without the consent of the indemnified party, consent to entry of any judgment or enter
into any settlement which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such indemnified party of a release from all liability in respect to such claim or litigation. 
  
 (d) Contribution. If the indemnification provided for
in this Agreement shall for any reason be unavailable to an indemnified party under Section 11.5(a) or 11.5(b) hereof in respect of any Losses (or any action or proceeding in respect thereof), then each indemnifying party shall, in lieu of
indemnifying such party, contribute to the amount paid or payable by such indemnified party as a result of such Losses (or action or proceeding in respect thereof), in such proportion as shall be appropriate to reflect (i) the relative benefits
received by the Company on the one hand and the Holder included in the offering on the other hand, from the offering of the Holder Registrable Securities, and (ii) the relative fault of the Company on the one hand and the holders of the Holder
Registrable Securities included in the offering on the other, with respect to the statements or omissions which resulted in such Losses (or action or proceeding in respect thereof), as well as any other relevant equitable considerations. The
relative benefits received by the Company on the one hand and the Holder on the other with respect to such offering shall be deemed to be in the same proportion as the sum of the total Exercise Price paid to the Company in respect of the securities
sold pursuant to the offering plus the total net proceeds from the offering of the securities (before deducting expenses) received by the Company bears to the amount by which the total net proceeds from the offering of the securities (before
deducting expenses) received by the Holder with respect to such offering exceeds the Exercise Price paid to the Company in respect of the Holder Registrable Securities. The relative fault shall be determined by reference to, among other things,
whether the untrue or alleged untrue 

  

 9 

 
statement of a material fact or omission or alleged omission to state a material fact relates to information supplied by the Company or the Holder, the
intent of the parties and their relative knowledge, access to information and opportunity to correct or prevent such statement or omission. The Company and the Holder agree that it would not be just and equitable if contribution pursuant to this
Section 11.5 were to be determined by pro rata allocation or by any other method of allocation which does not take into account the equitable considerations referred to herein. The amount paid or payable by an indemnified party as a result of the
loss, claim, damage or liability, or action in respect thereof, referred to in this Section 11.5 shall be deemed to include, for purposes of this Section 11.5, any legal or other expenses reasonably incurred by such indemnified party in connection
with investigating or defending any such action or claim. 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. 
  
 (e) Survival
of Indemnity Obligations. The obligations of the Company and the Holder under this Section 11.5 shall survive completion of any offering of Holder Registrable Securities in a registration statement and the termination of this Agreement. No
indemnifying party, in the defense of any such claim or litigation, shall, except with the consent of each indemnified party, consent to entry of any judgment or enter into any settlement which does not include as an unconditional term thereof the
giving by the claimant or plaintiff to such indemnified party of a release from all liability in respect to such claim or litigation. 
  
 (f) Limitation on Preliminary Prospectus Liability. The foregoing indemnity agreements of the Company and the Holder are subject to
the condition that, insofar as they relate to any Violation made in a preliminary prospectus but eliminated or remedied in the amended prospectus on file with the Commission at the time the registration statement in question becomes effective or the
amended prospectus filed with the Commission pursuant to Commission Rule 424(b) (the “Final Prospectus”), such indemnity agreement shall not inure to the benefit of any Person if a copy of the Final Prospectus was furnished to the
indemnified party and was not furnished to the Person asserting the Losses at or prior to the time such action is required by the Securities Act. 
  
 11.6 No Assignment of Registration Rights. The rights hereunder to cause the Company to register the Holder Registrable Securities may not be
assigned by Holder except in connection with an assignment of the Warrant made in accordance with the terms of this Warrant Agreement. 
  
 11.7 Registration Expenses. 
  
 (a) Company Expenses. All expenses incident to the Company’s performance of or compliance with this Section 11, and fees and
disbursements of counsel for the Company and its independent certified public accountants, including the expenses of any special audits or “cold comfort” letters required by or incident to such performance and compliance, and any fees and
disbursements of underwriters customarily paid by issuers or sellers of securities (but excluding discounts and commissions and transfer taxes, if any) and other Persons retained by the Company (all such expenses being herein called
“Registration Expenses”), will be borne by the Company, and in addition the Company will pay its internal expenses (including, without limitation, all salaries and expenses of its officers and employees performing legal or accounting
duties), and the expense of any annual audit or quarterly review, the expense of any liability insurance or other expenses for the preparation of financial statements or other data normally prepared by the Company in the ordinary course of its
business or which the Company would have incurred in any event. 
  
 (b) Holder Expenses. To the extent Registration Expenses are not required to be paid by the Company, Holder will pay those Registration Expenses allocable to the registration of the Warrant Shares so included,
including fees of counsel for Holder, and any Registration Expenses not so allocable will be borne by all 

  

 10 

 
sellers of securities included in such registration in proportion to the aggregate selling price of the securities to be so registered. 
  
 11.8 Further Covenants Relating to and Limitations on Registration Rights
of the Holder. 
  
 (a) It shall be a
condition precedent to the obligations of the Company to take any action pursuant to Section 11.1 that Holder (i) agrees to sell any Holder Registrable Securities on the basis provided in any underwriting arrangements approved by the Person or
Persons entitled hereunder to approve such arrangements and (ii) completes and executes all questionnaires, powers of attorney, indemnities, underwriting agreements and other documents required under the terms of such underwriting arrangements.

  
 (b) The Company may require Holder to furnish
to the Company such information regarding the Holder and the distribution of Warrant Shares as the Company may from time to time reasonably request in writing. The Company will give Holder copies of any registration statements and each prospectus
filed with the Commission, and each amendment thereof or supplement thereto. 
  
 (c) The Holder agrees by acquisition of such Holder Registrable Securities that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 11.3(v), the Holder will
forthwith discontinue such Holder’s disposition of Holder Registrable Securities pursuant to the registration statement relating to such Holder Registrable Securities until receipt of the copies of the supplemented or amended prospectus
contemplated by Section 11.3(v) and, if so directed by the Company, will deliver to the Company (at the Company’s expense) all copies, then in the Holder’s possession of the prospectus relating to such Holder Registrable Securities current
at the time of receipt of such notice. 
  
 (d)
The Holder shall have no right to obtain or seek an injunction restraining or otherwise delaying any registration of the Company’s securities as the result of controversy that might arise with respect to the interpretation or implementation of
this Agreement. 
  
 11.9 Definitions. As used in this
Section 11, unless the context otherwise requires, the following terms have the following respective meanings: 
  
 Commission: The Securities and Exchange Commission or any other Federal agency at the time administering the Securities Act.

  
 Exchange Act: The Securities Exchange
Act of 1934, or any similar federal statute, and the rules and regulations of the Commission thereunder, all as the same shall be in effect at the time. Reference to a particular section of the Securities Exchange Act of 1934 shall include a
reference to the comparable section, if any, of any such similar federal statute. 
  
 Holder Registrable Securities: Common Stock issued pursuant to this Warrant and (ii) any shares of Common Stock issued or issuable
in respect of such Common Stock upon any stock split, stock dividend, recapitalization, or similar event. Shares of Common Stock shall only be treated as Registrable Securities if they have not been (A) sold to or through a broker or dealer or
underwriter in a public distribution or a public securities transaction or (B) sold or, in the opinion of counsel to the Company, are available for sale in a single transaction exempt from the registration and prospectus delivery requirements of the
Securities Act so that all transfer restrictions and restrictive legends with respect thereto are removed upon the consummation of such sale. 
  
 Person: A corporation, a limited liability company, an association, a partnership, an organization, a business, an individual, an
estate, a governmental or political subdivision thereof or a governmental agency. 
  

 11 

 Securities Act: The Securities Act of 1933, or any similar federal statute, and
the rules and regulations of the Commission thereunder, all as the same shall be in effect at the time. Reference to a particular section of the Securities Act of 1933 shall include a reference to the comparable section, if any, of any such similar
federal statute. 
  
 11.10 Termination. The right to
request registration or inclusion in any registration pursuant to Section 11.1 shall terminate on the date that the Holder Registrable Securities may immediately be sold under Rule 144 during any 90-day period. 
  
 12. REDEMPTION. 
  
 (a) Right of Redemption. The Company may, on twenty
(20) days prior written notice, redeem this Warrant at $0.001 per share of Common Stock issuable upon exercise of this Warrant as of the Redemption Date (as defined below), provided, however, that before any such call for redemption of this Warrant
can take place there shall be in effect a registration statement under the Securities Act which registered the resale of the Common Stock issuable upon exercise of the Warrant. 
  
 (b) Redemption Procedure. In the event the Company exercises its right to redeem all of this Warrant,
it shall give or cause to be given notice to the Holder of this Warrant, by mailing to such Holder a notice of redemption, first class, postage prepaid, not later than the twentieth (20th) day before the date fixed for redemption, at its last
address as shall appear on the records of the Company. Any notice mailed in the manner provided herein shall be conclusively presumed to have been duly given whether or not the Holder receives such notice. The notice of redemption shall specify (i)
the redemption price, (ii) the date fixed for redemption, (iii) the place where this Warrant shall be delivered and the redemption price shall be paid, and (iv) that the right to exercise the Warrant shall terminate at 5:00 p.m. (New York time) on
the Trading Day immediately preceding the date fixed for redemption. The date fixed for the redemption of this Warrant shall be the “Redemption Date.” No failure to mail such notice nor any defect therein or in the mailing thereof shall
affect the validity of the proceedings for such redemption except as to the Holder (A) to whom notice was not mailed or (B) whose notice was defective. An affidavit of the Secretary or Assistant Secretary of the Company that notice of redemption has
been mailed shall, in the absence of fraud, be prima facie evidence of the facts stated therein. 
  
 (c) Right to Exercise. Any right to exercise a warrant shall terminate at 5:00 p.m. (New York time) on the Trading Day immediately
preceding the Redemption Date. The redemption price payable to Holder shall be mailed to the Holder at its address of record. 
  
 13. NO RIGHTS AS SHAREHOLDER. Until the exercise of this Warrant, the Holder of this Warrant shall not have or exercise any rights by virtue hereof
as a shareholder of the Company. Holder will have and may exercise rights as a shareholder on all stock of the Company held by Holder. 
  
 14. HEADINGS. The headings in this Warrant are for purposes of reference only and shall not limit or otherwise affect the meaning of any provision
of this Warrant. 
  
 15. AMENDMENTS. The terms and
provisions of this Warrant may not be modified or amended, or any provisions hereof waived, temporarily or permanently, except by written consent of the Company and the Holder hereof. 
  
 16. BINDING EFFECT. Subject to all restrictions provided for in this Warrant and by applicable law relating to
assignment and transfer of this Warrant, this Warrant shall be binding upon and inure to the benefit of the parties hereto and their respective heirs, executors, administrators, successors, and permitted assigns. 
  

 12 

 17. ENTIRE AGREEMENT. This Warrant constitutes the entire agreement and supersedes all prior
understandings and agreements, written or oral, of the parties hereto with respect to the subject matter hereof. Neither this Warrant nor any term hereof may be amended, waived, discharged, or terminated except by a written instrument signed by the
Company and the Holder; provided, however, that the Company or the Holder unilaterally may waive any provision hereof in writing to the extent that such waiver does not adversely affect the interests of the other party hereunder, but no such waiver
shall operate as or be construed to be a subsequent waiver of the same provision or a waiver of any other provision hereof. 
  
 18. COUNTERPARTS. To facilitate execution, this Warrant may be executed in counterparts. It shall not be necessary that the signatures of, or on
behalf of, each party, or that the signatures of all persons required to bind any party, appear on each counterpart; but it shall be sufficient that the signature of, or on behalf of, each party, or that the signatures of the persons required to
bind any party, appear on one or more of the counterparts. All counterparts shall collectively constitute a single contract. It shall not be necessary in making proof of this Warrant to produce or account for more than a number of counterparts
containing the respective signatures of, or on behalf of, all of the parties hereto. Without limiting the generality of the foregoing, the exchange by the parties hereto of counterparts by facsimile transmission shall be sufficient by create a
binding and enforceable agreement. 
  
 19. GOVERNING LAW.
This Warrant shall be governed by, and construed in accordance with, the internal laws of the State of New York (excluding the choice of law rules thereof). 
  

20. JURISDICTION AND VENUE. Any legal suit, action or proceeding arising out of or relating to this Warrant shall be instituted exclusively in
New York State Supreme Court, County of New York or in the United States District Court for the Southern District of New York. Each party hereto waives any objection to the venue of any such suit, action or proceeding and the right to assert that
such forum is not a convenient forum for such suit, action or proceeding and irrevocably consents to the jurisdiction of the New York State Supreme Court, County of New York, and the United States District Court for the Southern District of New York
in any such suit, action or proceeding. Each party hereto further agrees to accept and acknowledge service or any and all process which may be served in any such suit, action or proceeding in New York State Supreme Court, County of New York or in
the United States District Court for the Southern District of New York and agrees that service of process upon it mailed by certified mail to its address shall be deemed in every respect effective service of process upon it in any suit, action or
proceeding. 
  

 13 

 IN WITNESS WHEREOF, each of the parties hereto has executed this Warrant or caused this Warrant to
be duly executed on its behalf as of the date first above written. 
  

			
	COMPANY:
	
	 ACTION PRODUCTS INTERNATIONAL, INC.

		
	By:	 	/s/    RONALD S. KAPLAN        
	 Name:
	 	Ronald S. Kaplan
	 Title:
	 	President and CEO
	
	HOLDER:
	
	ELITE FINANCIAL COMMUNICATIONS GROUP, LLC
		
	By:	 	 
	 Name:
	 	 
	 Title:
	 	 

  

 14 

 NOTICE OF EXERCISE 
  

	TO:	Action Products International, Inc. 

 Attn: Chief Financial
Officer 
 390 N. Orange Ave., Suite 2185 
 Orlando, Florida 32801 
  
 1. The undersigned hereby
elects to purchase              shares of the Common Stock of Action Products International, Inc., pursuant to terms of the attached Warrant, and tenders herewith payment of the
Exercise Price of such shares in full, together with all applicable transfer taxes, if any, in the following manner: (check one box) 
  
  ̈ cash 
  
  ̈ certified check 
  
  ̈ wire transfer 
  
  ̈ a combination of any of the foregoing

  
 2. Please issue a certificate or certificates representing
said shares of the Common Stock in the name of the undersigned or in such other name as is specified below: 
  
 3. The undersigned represents that he/she/it will only sell the shares of Common Stock pursuant to an effective registration statement under the
Securities Act of 1933, as amended, or an exemption from registration thereunder. 
  

	
	
	  
	 (Name)

	
	  
	 (Address)

	
	  
	
	  
	 (Telephone Number)

	
	  
	 (Facsimile Number)

	
	  
	 (E-mail Address)

	
	  
	 (Taxpayer Identification Number)

  

			
		
	By:	 	 
		
	 Title:
	 	 
		
	 Date:
	 	 

  

 15Indenture between Vitesse Semiconductor Corp & U.S. Bank National Association

 Exhibit 10.1 
  

 INDENTURE 
  
 Between 
  
 VITESSE SEMICONDUCTOR CORPORATION 
  
 And 
  
 U.S. BANK NATIONAL ASSOCIATION, 
 as Trustee 
  
 1.50% CONVERTIBLE SUBORDINATED DEBENTURES DUE 2024 
  
 DATED AS OF SEPTEMBER 22, 2004 
  

 CROSS-REFERENCE TABLE* 
  

			
	 Trust Indenture
 Act
Section

	  	 Indenture
 Section

	 310(a)(1)
	  	5.11
	       (a)(2)
	  	5.11
	       (a)(3)
	  	n/a
	       (a)(4)
	  	n/a
	       (a)(5)
	  	5.11
	       (b)
	  	5.3; 5.11
	       (c)
	  	n/a
		
	 311(a)
	  	5.12
	       (b)
	  	5.12
	       (c)
	  	n/a
		
	 312(a)
	  	2.10
	       (b)
	  	15.3
	       (c)
	  	15.3
		
	 313(a)
	  	5.7
	       (b)(1)
	  	n/a
	       (b)(2)
	  	5.7
	       (c)
	  	5.7; 15.2
	       (d)
	  	5.7
		
	 314(a)(1), (2), (3)
	  	9.6; 15.6
	       (a)(4)
	  	9.6; 9.7; 15.6
	       (b)
	  	n/a
	       (c)(1)
	  	15.5
	       (c)(2)
	  	15.5
	       (c)(3)
	  	n/a
	       (d)
	  	n/a
	       (e)
	  	15.6
	       (f)
	  	n/a
		
	 315(a)
	  	5.1(a)
	       (b)
	  	5.6; 15.2
	       (c)
	  	5.1(b)
	       (d)
	  	5.1(c)
	       (e)
	  	4.14
		
	 316(a)(last sentence)
	  	2.13
	       (a)(1)(A)
	  	4.5
	       (a)(1)(B)
	  	4.4
	       (a)(2)
	  	n/a
	       (b)
	  	4.7
	       (c)
	  	7.4

  

 i 

			
	 317(a)(1)
	  	4.8
	       (a)(2)
	  	4.9
	       (b)
	  	2.5
		
	 318(a)
	  	15.1
	       (b)
	  	n/a
	       (c)
	  	15.1

	“n/a”	means not applicable. 

	*	This Cross-Reference Table shall not, for any purpose, be deemed to be a part of the Indenture. 

  

 ii 

 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page

	ARTICLE 1 DEFINITIONS AND INCORPORATION BY REFERENCE	  	1
			
	 SECTION 1.1
	  	DEFINITIONS.	  	1
	 SECTION 1.2
	  	INCORPORATION BY REFERENCE OF TRUST INDENTURE ACT.	  	11
	 SECTION 1.3
	  	RULES OF CONSTRUCTION.	  	11
		
	ARTICLE 2 THE SECURITIES	  	11
			
	 SECTION 2.1
	  	TITLE AND TERMS.	  	11
	 SECTION 2.2
	  	FORM OF SECURITIES.	  	13
	 SECTION 2.3
	  	LEGENDS.	  	13
	 SECTION 2.4
	  	EXECUTION, AUTHENTICATION, DELIVERY AND DATING.	  	18
	 SECTION 2.5
	  	REGISTRAR AND PAYING AGENT.	  	18
	 SECTION 2.6
	  	PAYING AGENT TO HOLD ASSETS IN TRUST.	  	19
	 SECTION 2.7
	  	GENERAL PROVISIONS RELATING TO TRANSFER AND EXCHANGE.	  	19
	 SECTION 2.8
	  	BOOK-ENTRY PROVISIONS FOR THE GLOBAL SECURITIES.	  	20
	 SECTION 2.9
	  	SPECIAL TRANSFER PROVISIONS.	  	21
	 SECTION 2.10
	  	HOLDER LISTS.	  	23
	 SECTION 2.11
	  	PERSONS DEEMED OWNERS.	  	23
	 SECTION 2.12
	  	MUTILATED, DESTROYED, LOST OR STOLEN SECURITIES.	  	23
	 SECTION 2.13
	  	TREASURY SECURITIES.	  	24
	 SECTION 2.14
	  	TEMPORARY SECURITIES.	  	24
	 SECTION 2.15
	  	CANCELLATION.	  	24
	 SECTION 2.16
	  	CUSIP NUMBERS.	  	24
	 SECTION 2.17
	  	DEFAULTED INTEREST.	  	25
		
	ARTICLE 3 SATISFACTION AND DISCHARGE	  	25
			
	 SECTION 3.1
	  	SATISFACTION AND DISCHARGE OF INDENTURE.	  	25
	 SECTION 3.2
	  	DEPOSITED MONIES TO BE HELD IN TRUST.	  	26
	 SECTION 3.3
	  	RETURN OF UNCLAIMED MONIES.	  	26
		
	ARTICLE 4 DEFAULTS AND REMEDIES	  	27
			
	 SECTION 4.1
	  	EVENTS OF DEFAULT.	  	27
	 SECTION 4.2
	  	ACCELERATION OF MATURITY; RESCISSION AND ANNULMENT.	  	28
	 SECTION 4.3
	  	OTHER REMEDIES.	  	29
	 SECTION 4.4
	  	WAIVER OF PAST DEFAULTS.	  	29
	 SECTION 4.5
	  	CONTROL BY MAJORITY.	  	29
	 SECTION 4.6
	  	LIMITATION ON SUIT.	  	30
	 SECTION 4.7
	  	UNCONDITIONAL RIGHTS OF HOLDERS TO RECEIVE PAYMENT AND
TO CONVERT.	  	30
	 SECTION 4.8
	  	COLLECTION OF INDEBTEDNESS AND SUITS FOR ENFORCEMENT BY
THE TRUSTEE.	  	30
	 SECTION 4.9
	  	TRUSTEE MAY FILE PROOFS OF CLAIM.	  	31
	 SECTION 4.10
	  	RESTORATION OF RIGHTS AND REMEDIES.	  	32
	 SECTION 4.11
	  	RIGHTS AND REMEDIES CUMULATIVE.	  	32
	 SECTION 4.12
	  	DELAY OR OMISSION NOT WAIVER.	  	32
	 SECTION 4.13
	  	APPLICATION OF MONEY COLLECTED.	  	32
	 SECTION 4.14
	  	UNDERTAKING FOR COSTS.	  	33
	 SECTION 4.15
	  	WAIVER OF STAY OR EXTENSION LAWS.	  	33
		
	ARTICLE 5 THE TRUSTEE	  	33
			
	 SECTION 5.1
	  	CERTAIN DUTIES AND RESPONSIBILITIES.	  	33
	 SECTION 5.2
	  	CERTAIN RIGHTS OF TRUSTEE.	  	35
	 SECTION 5.3
	  	INDIVIDUAL RIGHTS OF TRUSTEE.	  	35

  

 iii 

					
	 SECTION 5.4
	  	MONEY HELD IN TRUST.	  	36
	 SECTION 5.5
	  	TRUSTEE’S DISCLAIMER.	  	36
	 SECTION 5.6
	  	NOTICE OF DEFAULTS.	  	36
	 SECTION 5.7
	  	REPORTS BY TRUSTEE TO HOLDERS.	  	36
	 SECTION 5.8
	  	COMPENSATION AND INDEMNIFICATION.	  	36
	 SECTION 5.9
	  	REPLACEMENT OF TRUSTEE.	  	37
	 SECTION 5.10
	  	SUCCESSOR TRUSTEE.	  	38
	 SECTION 5.11
	  	CORPORATE TRUSTEE REQUIRED; ELIGIBILITY.	  	38
	 SECTION 5.12
	  	COLLECTION OF CLAIMS AGAINST THE COMPANY.	  	38
		
	ARTICLE 6 CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE	  	38
			
	 SECTION 6.1
	  	COMPANY MAY CONSOLIDATE ONLY ON CERTAIN TERMS.	  	38
	 SECTION 6.2
	  	SUCCESSOR CORPORATION SUBSTITUTED.	  	39
		
	ARTICLE 7 AMENDMENTS, SUPPLEMENTS AND WAIVERS	  	39
			
	 SECTION 7.1
	  	WITHOUT CONSENT OF HOLDERS OF SECURITIES.	  	39
	 SECTION 7.2
	  	WITH CONSENT OF HOLDERS OF SECURITIES.	  	40
	 SECTION 7.3
	  	COMPLIANCE WITH TRUST INDENTURE ACT.	  	41
	 SECTION 7.4
	  	REVOCATION OF CONSENTS AND EFFECT OF CONSENTS OR
VOTES.	  	41
	 SECTION 7.5
	  	NOTATION ON OR EXCHANGE OF SECURITIES.	  	42
	 SECTION 7.6
	  	TRUSTEE TO SIGN AMENDMENT, ETC.	  	42
		
	ARTICLE 8 MEETING OF HOLDERS OF SECURITIES	  	42
			
	 SECTION 8.1
	  	PURPOSES FOR WHICH MEETINGS MAY BE CALLED.	  	42
	 SECTION 8.2
	  	CALL NOTICE AND PLACE OF MEETINGS.	  	42
	 SECTION 8.3
	  	PERSONS ENTITLED TO VOTE AT MEETINGS.	  	43
	 SECTION 8.4
	  	QUORUM; ACTION.	  	43
	 SECTION 8.5
	  	DETERMINATION OF VOTING RIGHTS; CONDUCT AND ADJOURNMENT OF
MEETINGS.	  	43
	 SECTION 8.6
	  	COUNTING VOTES AND RECORDING ACTION OF MEETINGS.	  	44
		
	ARTICLE 9 COVENANTS	  	44
			
	 SECTION 9.1
	  	PAYMENT OF PRINCIPAL, PREMIUM AND INTEREST.	  	44
	 SECTION 9.2
	  	MAINTENANCE OF OFFICES OR AGENCIES.	  	45
	 SECTION 9.3
	  	CORPORATE EXISTENCE.	  	45
	 SECTION 9.4
	  	MAINTENANCE OF PROPERTIES.	  	45
	 SECTION 9.5
	  	PAYMENT OF TAXES AND OTHER CLAIMS.	  	46
	 SECTION 9.6
	  	REPORTS.	  	46
	 SECTION 9.7
	  	COMPLIANCE CERTIFICATE.	  	46
	 SECTION 9.8
	  	RESALE OF CERTAIN SECURITIES.	  	47
	 SECTION 9.9
	  	ADDITIONAL AMOUNTS.	  	47
		
	ARTICLE 10 REDEMPTION OF SECURITIES	  	47
			
	 SECTION 10.1
	  	OPTIONAL REDEMPTION.	  	47
	 SECTION 10.2
	  	NOTICE TO TRUSTEE.	  	47
	 SECTION 10.3
	  	SELECTION OF SECURITIES TO BE REDEEMED.	  	48
	 SECTION 10.4
	  	NOTICE OF REDEMPTION.	  	48
	 SECTION 10.5
	  	EFFECT OF NOTICE OF REDEMPTION.	  	49
	 SECTION 10.6
	  	DEPOSIT OF REDEMPTION PRICE.	  	49
	 SECTION 10.7
	  	SECURITIES REDEEMED IN PART.	  	50

  

 iv 

					
	ARTICLE 11 REPURCHASE AT THE OPTION OF A HOLDER UPON SPECIFIC REPURCHASE DATES OR UPON A FUNDAMENTAL CHANGE	  	50
			
	 SECTION 11.1
	  	REPURCHASE RIGHT.	  	50
	 SECTION 11.2
	  	COMPANY’S OPTION TO PAY ALL OR A PORTION
OF THE REPURCHASE PRICE IN THE EVENT OF A FUNDAMENTAL CHANGE IN
COMMON STOCK; CONDITIONS TO THE COMPANY’S ELECTION TO PAY THE
REPURCHASE PRICE IN THE EVENT OF A FUNDAMENTAL CHANGE IN COMMON
STOCK.	  	51
	 SECTION 11.3
	  	REPURCHASE EVENT NOTICE.	  	52
	 SECTION 11.4
	  	DELIVERY OF REPURCHASE EVENT PURCHASE NOTICE; FORM OF
REPURCHASE EVENT PURCHASE NOTICE; WITHDRAWAL OF REPURCHASE EVENT PURCHASE NOTICE.	  	53
	 SECTION 11.5
	  	EXERCISE OF REPURCHASE RIGHTS.	  	54
	 SECTION 11.6
	  	DEPOSIT AND PAYMENT OF THE REPURCHASE PRICE.	  	55
	 SECTION 11.7
	  	COVENANT TO COMPLY WITH SECURITIES LAWS UPON REPURCHASE
OF SECURITIES.	  	56
		
	ARTICLE 12 CONVERSION OF SECURITIES	  	56
			
	 SECTION 12.1
	  	CONVERSION RIGHT AND CONVERSION PRICE.	  	56
	 SECTION 12.2
	  	EXERCISE OF CONVERSION RIGHT.	  	57
	 SECTION 12.3
	  	FRACTIONS OF SHARES.	  	58
	 SECTION 12.4
	  	ADJUSTMENT OF CONVERSION PRICE.	  	58
	 SECTION 12.5
	  	NOTICE OF ADJUSTMENTS OF CONVERSION PRICE.	  	66
	 SECTION 12.6
	  	NOTICE PRIOR TO CERTAIN ACTIONS.	  	66
	 SECTION 12.7
	  	COMPANY TO RESERVE COMMON STOCK.	  	67
	 SECTION 12.8
	  	TAXES ON CONVERSIONS.	  	67
	 SECTION 12.9
	  	COVENANT AS TO COMMON STOCK.	  	67
	 SECTION 12.10
	  	CANCELLATION OF CONVERTED SECURITIES.	  	68
	 SECTION 12.11
	  	EFFECT OF RECLASSIFICATION, CONSOLIDATION, MERGER OR SALE.	  	68
	 SECTION 12.12
	  	CASH CONVERSION OPTION.	  	69
	 SECTION 12.13
	  	RESPONSIBILITY OF TRUSTEE FOR CONVERSION PROVISIONS.	  	72
		
	ARTICLE 13 MAKE-WHOLE PREMIUM	  	72
			
	 SECTION 13.1
	  	MAKE-WHOLE PREMIUM.	  	72
	 SECTION 13.2
	  	ADJUSTMENTS RELATING TO THE MAKE-WHOLE PREMIUM.	  	74
		
	ARTICLE 14 SUBORDINATION	  	75
			
	 SECTION 14.1
	  	SECURITIES SUBORDINATED TO SENIOR DEBT.	  	75
	 SECTION 14.2
	  	SUBROGATION.	  	76
	 SECTION 14.3
	  	OBLIGATION OF THE COMPANY IS ABSOLUTE AND UNCONDITIONAL.	  	77
	 SECTION 14.4
	  	MATURITY OF OR DEFAULT ON SENIOR DEBT.	  	77
	 SECTION 14.5
	  	PAYMENTS ON SECURITIES PERMITTED.	  	77
	 SECTION 14.6
	  	EFFECTUATION OF SUBORDINATION BY TRUSTEE.	  	77
	 SECTION 14.7
	  	KNOWLEDGE OF TRUSTEE.	  	78
	 SECTION 14.8
	  	TRUSTEE’S RELATION TO SENIOR DEBT.	  	78
	 SECTION 14.9
	  	RIGHTS OF HOLDERS OF SENIOR DEBT NOT IMPAIRED.	  	78
	 SECTION 14.10
	  	MODIFICATION OF TERMS OF SENIOR DEBT.	  	78
	 SECTION 14.11
	  	CERTAIN CONVERSIONS NOT DEEMED PAYMENT.	  	79
		
	ARTICLE 15 OTHER PROVISIONS OF GENERAL APPLICATION	  	79
			
	 SECTION 15.1
	  	TRUST INDENTURE ACT CONTROLS.	  	79
	 SECTION 15.2
	  	NOTICES.	  	79
	 SECTION 15.3
	  	COMMUNICATION BY HOLDERS WITH OTHER HOLDERS.	  	80

  

 v 

					
	 SECTION 15.4
	  	ACTS OF HOLDERS OF SECURITIES.	  	80
	 SECTION 15.5
	  	CERTIFICATE AND OPINION AS TO CONDITIONS PRECEDENT.	  	81
	 SECTION 15.6
	  	STATEMENTS REQUIRED IN CERTIFICATE OR OPINION.	  	82
	 SECTION 15.7
	  	EFFECT OF HEADINGS AND TABLE OF CONTENTS.	  	82
	 SECTION 15.8
	  	SUCCESSORS AND ASSIGNS.	  	82
	 SECTION 15.9
	  	SEPARABILITY CLAUSE.	  	82
	 SECTION 15.10
	  	BENEFITS OF INDENTURE.	  	82
	 SECTION 15.11
	  	SECTION GOVERNING LAW.	  	83
	 SECTION 15.12
	  	COUNTERPARTS.	  	83
	 SECTION 15.13
	  	LEGAL HOLIDAYS.	  	83
	 SECTION 15.14
	  	RECOURSE AGAINST OTHERS.	  	83

  

					
	 EXHIBITS

			
	 	  	EXHIBIT A:	  	Form of Security
	 	  	EXHIBIT B:	  	Form of Repurchase Event Purchase Notice
	 	  	EXHIBIT C:	  	Form of Conversion Notice

  

 vi 

 INDENTURE, dated as of September 22, 2004, between VITESSE SEMICONDUCTOR CORPORATION, a corporation duly
organized and existing under the laws of the State of Delaware, having its principal office at 741 Calle Plano, Camarillo, California 93012 (the “Company”), and U.S. BANK NATIONAL ASSOCIATION, as Trustee (the
“Trustee”), having its principal corporate trust office at 60 Livingston Avenue, St. Paul, Minnesota 55107-2292. 
  
 RECITALS OF THE COMPANY 
  
 The Company has duly authorized the creation of an issue of its 1.50% Convertible Subordinated Debentures due 2024 (herein called the
“Securities”) of 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 the Securities, when the Securities are executed
by the Company and authenticated and delivered hereunder and duly issued by the Company, the valid obligations of the Company, and to make this Indenture a valid agreement of the Company, in accordance with their and its terms, have been done.

  
 NOW, THEREFORE, THIS INDENTURE WITNESSETH: 

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

ARTICLE 1 
  
 DEFINITIONS AND INCORPORATION BY REFERENCE 
  
 Section 1.1 Definitions. 
  
 For all purposes of this Indenture and the Securities, the following terms are defined as follows: 
  
 “Act,” when used with respect to any Holder of a
Security, has the meaning specified in Section 15.4(a). 
  
 “Additional Amounts” means all amounts, if any, payable pursuant to Section 3 of the Registration Rights Agreement. 
  

“Additional Premium” has the meaning specified in Section 13.1(b). 
  
 “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
Member” has the meaning specified in Section 2.8(a). 
  
 “Applicable Stock Price” has the meaning specified in Section 12.12(e). 
  

 1 

 “Bankruptcy Law” means Title 11 of the U.S. Code or any similar federal or
state law for the relief of debtors. 
  
 “Board of Directors” means either the board of directors of the Company or any committee of that board empowered to act for it with respect to this Indenture. 
  
 “Board Resolution” means a resolution duly adopted by the Board of Directors, a copy of which,
certified by the Secretary or an Assistant Secretary of the Company to be in full force and effect on the date of such certification, shall have been 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 13.1(e). 
  
 “Capital Lease”
means 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. 
  
 “Capitalized Lease
Obligation” means the discounted present value of the rental obligations and liabilities (contingent or otherwise) under a Capital Lease. 
  
 “Cash Amount” has the meaning specified in Section 12.12(e). 
  
 “Cash-Only Settlement Amount” has the meaning specified in Section 12.12(e). 
  
 “Cash Settlement Averaging Period” has the meaning
specified in Section 12.12(e). 
  
 “Closing
Sale Price” has the meaning specified in Section 12.12(e). 
  
 “Common Stock” means any stock of any class of the Company which has no preference in respect of dividends or of amounts payable in the event of any voluntary or involuntary liquidation, dissolution or
winding up of the Company and which is not subject to redemption by the Company. However, subject to the provisions of Section 12.11, shares issuable on conversion of Securities shall include only shares of the class designated as Common Stock, par
value $0.01 per share, of the Company at the date of this Indenture or shares of any class or classes resulting from any reclassification or reclassifications thereof and which have no preference in respect of dividends or of amounts payable in the
event of any voluntary or involuntary liquidation, dissolution or winding up of the Company and which are not subject to redemption by the Company; provided, however, that if at any time there shall be more than one such resulting class, the
shares of each such class then so issuable shall be substantially in the proportion which the total number of shares of such class resulting from all such reclassifications bears to the total number of shares of all such classes resulting from all
such reclassifications. 
  
 “Company”
means the corporation named as the “Company” in the first paragraph of this instrument until a successor Person shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Company” shall mean
such successor Person. 
  

 2 

 “Company Order” means a written order signed in the name of the Company by any
of the Chairman of the Board, the Chief Executive Officer, the President, a Vice President, the Chief Financial Officer, the Controller, the Treasurer or the Secretary of the Company, and delivered to the Trustee. 
  
 “Conversion Agent” means any Person authorized by
the Company to convert Securities in accordance with Article 12. 
  
 “Conversion Price” has the meaning specified in Section 12.1. 
  
 “Conversion Retraction Period” has the meaning specified in Section 12.12(c). 
  
 “Corporate Trust Office” means for purposes of
presentation or surrender of Securities for payment, registration, transfer, exchange or conversion or for service of notices or demands upon the Company or for any other purpose of this Indenture, both the office of the Trustee located at 60
Livingston Avenue, St. Paul, Minnesota 55107-2292, Attention: Corporate Trust Administration (Vitesse Semiconductor Corporation 1.50% Convertible Subordinated Debentures due 2024). 
  
 “corporation” means corporations, associations, limited liability companies, companies and
business trusts. 
  
 “Current Market
Price” has the meaning set forth in Section 12.4(g). 
  
 “Custodian” means any receiver, trustee, assignee, liquidator, sequestrator or similar official under any Bankruptcy Law. 
  
 “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 2.17. 
  
 “Depositary” means The Depository Trust Company, its nominees and their respective successors. 
  
 “Determination Date” has the meaning specified in Section 12.12(d). 
  
 “dollar,” “U.S. Dollar” or “$”
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 13.1(c). 
  
 “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). 
  
 “fair market value” has the meaning set forth in Section 12.4(g). 
  

 3 

 “Fundamental Change” means any transaction or event (whether by means of an exchange offer,
liquidation, tender offer, consolidation, merger, combination, reclassification, recapitalization or otherwise) in connection with which 50% or more of the Common Stock is exchanged for, converted into, acquired for or constitutes solely the right
to receive, consideration which is not at least 90% common stock that is (i) listed on, or immediately after the transaction or event will be listed on, a United States national securities exchange or (ii) approved, or immediately after the
transaction or event will be approved, for quotation on the Nasdaq National Market or any similar United States system of automated dissemination of quotations of securities prices. 
  
 “Fundamental Change Repurchase Date” has the meaning specified in Section 11.1(b). 
  
 “Global Security” has the meaning specified in
Section 2.2(b). 
  
 “guarantee” means
any obligation, contingent or otherwise, of any Person, directly or indirectly guaranteeing any Indebtedness of any other Person and any obligation, direct or indirect, contingent or otherwise, of such Person: 
  
 (1) to purchase or pay (or advance or supply funds for the
purchase or payment of) such Indebtedness of such other Person (whether arising by virtue of partnership arrangements, or by agreement to keep-well, to purchase assets, goods, securities or services, to take-or-pay, or maintain financial statement
conditions or otherwise); or 
  
 (2) entered into
for purposes of assuring in any other manner the obligee of such Indebtedness of the payment thereof or to protect such obligee against loss in respect thereof (in whole or in part); 
  
 provided, however, that the term “guarantee” will not include endorsements for collection or deposit in the
ordinary course of business. The term “guarantee” used as a verb has a corresponding meaning. 
  
 “Holder,” when used with respect to any Security, including any Global Security, means the Person in whose name the Security is
registered in the Register. 
  
 “Indebtedness,” when used with respect to any Person, and without duplication means: 
  
 (1) all indebtedness, obligations and other liabilities (contingent or otherwise) of such Person for borrowed money (including obligations
of the Company 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 other instruments for the payment of money, or Purchase Money Debt, or incurred in connection with the acquisition of any services (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 to trade creditors incurred in the ordinary course of business in connection with the obtaining of such services; 
  
 (2) all reimbursement obligations and other liabilities
(contingent or otherwise) of such Person with respect to letters of credit, bank guarantees, bankers’ acceptances, surety bonds, performance bonds or other guaranty of contractual performance; 
  

 4 

 (3) all obligations and liabilities (contingent or otherwise) in respect of (a) Capital
Leases; and (b) any lease or related documents (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 landlord and the obligations of such Person under such lease or related document to purchase or to cause a third party to purchase the leased property; 

 
 (4) 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; 
  
 (5) all direct or indirect guarantees 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 (1) through (4); 
  
 (6) any indebtedness or other obligations described in clauses (1) through (4) 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 
  
 (7) any and all deferrals, renewals, extensions and refundings of, or amendments, modifications or supplements to, any indebtedness,
obligation or liability of the kind described in clauses (1) through (6). 
  
 “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” mean Lehman Brothers Inc. 
  
 “Interest Payment Date” means each of April 1 and October 1; provided, however, that if any such date is not a Business Day, the Interest Payment Date shall be the next succeeding Business Day. 
  
 “Interest Rate” means 1.50% per annum. 

 
 “Interest Rate Protection Agreement” means,
with respect to any Person, any interest rate swap agreement, interest rate cap or collar agreement or other financial agreement or arrangement designed to protect such person against fluctuations in interest rates, as in effect from time to time.

  
 “Make-Whole Percentage” has the
meaning specified in Section 13.1(c)(iii). 
  
 “Make-Whole Premium” has the meaning specified in Section 13.1(b). 
  
 “Make-Whole Table” has the meaning specified in Section 13.1(c)(iii). 
  

 5 

 “Maturity” and “Maturity Date” means the date on which the principal
of such Security becomes due and payable as therein or herein provided, whether at the Stated Maturity or by acceleration, conversion, call for redemption, exercise of a Repurchase Right or otherwise. 
  
 “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. 
  
 “Non-Electing Share” has the meaning specified in Section 12.11. 
  
 “Officer” of the Company means the Chairman of the
Board, the Chief Executive Officer, the President, the Chief Financial Officer, the Treasurer, the Controller, any Vice President or the Secretary of the Company. 
  
 “Officers’ Certificate” means a certificate signed by both (1) the Chairman of the Board, the
Chief Executive Officer, the President or a Vice President and (2) so long as not the same as the officer signing pursuant to clause (1), the Chief Financial Officer, the Treasurer, the Controller or the Secretary of the Company, 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 who is acceptable to the Trustee, which acceptance shall not be unreasonably withheld. 
  
 “Outstanding,” when used with respect to
Securities, means, as of the date of determination, all Securities theretofore authenticated and delivered under this Indenture, except Securities: 
  
 (1) previously canceled by the Trustee or delivered to the Trustee for cancellation; 
  
 (2) for the payment or redemption of which money in the
necessary amount has been previously deposited with the Trustee or any Paying Agent (other than the Company) in trust or set aside and segregated in trust by the Company (if the Company shall act as its own Paying Agent) for the Holders of such
Securities; provided, however, that if such Securities are to be redeemed, notice of such redemption has been duly given pursuant to this Indenture; and 
  

(3) which have been paid in exchange for or in lieu of other Securities which have been authenticated and delivered pursuant to this
Indenture, other than any such Securities in respect of which there shall have been presented to the Trustee proof satisfactory to it that such Securities are held by a bona fide purchaser in whose hands such Securities are valid obligations
of the Company. 
  
 “Paying Agent” has
the meaning specified in Section 2.5. 
  
 “Payment Blockage Notice” has the meaning specified in Section 14.1(c). 
  
 “Person” means any individual, corporation, limited liability company, partnership, joint venture, association, joint-stock
company, trust, estate, unincorporated organization or government or any agency or political subdivision thereof. 
  

 6 

 “Physical Securities” means Securities issued in definitive, fully registered
form without interest coupons, substantially in the form of Exhibit A hereto, with the applicable legends as provided in Section 2.3. 
  
 “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. 
  
 “Predecessor
Security” of any particular Security means every previous Security evidencing all or a portion of the same debt as that evidenced by such particular Security; and, for the purposes of this definition, any Security authenticated and delivered
under Section 2.12 in exchange for or in lieu of a mutilated, destroyed, lost or stolen Security shall be deemed to evidence the same debt as the mutilated, destroyed, lost or stolen Security. 
  
 “Purchase Agreement” means the Purchase Agreement,
dated September 16, 2004, between the Company and the Initial Purchaser. 
  
 “Purchase Money Debt” means all indebtedness, obligations and other liabilities (contingent or otherwise) incurred in connection with the acquisition of any property or assets (whether or not the recourse of
the lender is to the whole of the assets of the borrower or to only a portion thereof), other than any account payable or other accrued current liability or obligation to trade creditors incurred in the ordinary course of business in connection with
the obtaining of materials. 
  
 “Purchased
Shares” has the meaning set forth in Section 12.4(f). 
  
 “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 12.4(g). 
  
 “Redemption Date,” when used with respect to any Security to be redeemed, means the date fixed for such redemption by or pursuant to this Indenture. 
  
 “Redemption Price,” when used with respect to any
Security to be redeemed, means 100.0% of the principal amount of such Security to be redeemed pursuant to this Indenture. 
  
 “Reference Dealer” means a dealer engaged in the trading of convertible securities. 
  
 “Reference Period” has the meaning set forth in
Section 12.4(d). 
  
 “Register” has the
meaning specified in Section 2.5. 
  
 “Registrar” has the meaning specified in Section 2.5. 
  
 “Registration Rights Agreement” means the Resale Registration Rights Agreement dated as of September 22, 2004, between the Company and the Initial Purchaser. 
  
 “Regular Record Date” for the interest on the
Securities (including Additional Amounts, if any) payable means the March 15 (whether or not a Business Day) next preceding an Interest 
  

 7 

 Payment Date on April 1 and the September 15 (whether or not a Business Day) next preceding an Interest
Payment Date on October 1. 
  
 “Regulation
S” means Regulation S under the Securities Act. 
  
 “Repurchase Date” has the meaning specified in Section 11.1(b). 
  
 “Repurchase Event Notice” has the meaning specified in Section 11.3. 
  
 “Repurchase Event Purchase Notice” has the meaning
specified in Section 11.3. 
  
 “Repurchase
Events” has the meaning specified in Section 11.1(b). 
  
 “Repurchase Price” has the meaning specified in Section 11.1(a). 
  
 “Repurchase Right” has the meaning specified in Section 11.1(a). 
  
 “Responsible Officer,” when used with respect to the Trustee, means any officer in the Corporate
Trust Office of the Trustee and also means, with respect to a particular corporate trust matter, any other officer of the Trustee whom such matter is referred because of such officer’s knowledge of and familiarity with the particular subject.

  
 “Restricted Securities” means the
Securities defined as such in Section 2.3. 
  
 “Restricted Securities Legend” has the meaning set forth in Section 2.3(a). 
  
 “Rule 144” means Rule 144 under the Securities Act (including any successor rule thereof), as the same may be amended from time
to time. 
  
 “Rule 144A” means Rule
144A 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. 
  
 “Securities” has the meaning ascribed to it in the first paragraph under the caption
“Recitals of the Company.” 
  
 “Securities Act” means the Securities Act of 1933, as amended. 
  
 “Senior Debt” means: 
  
 (1) any liability of the Company for borrowed money, or evidenced by an instrument for the payment of money, or incurred in connection
with the acquisition of any property, services or assets (including securities), or relating to a Capitalized Lease Obligation, 
  
 (2) obligations under exchange rate contracts or Interest Rate Protection Agreements, 
  
 (3) any obligations of the Company to reimburse the issuer
of any letter of credit, surety bond, performance bond or other guarantee of contractual performance, and 
  

 8 

 (4) any liability of another Person of the type referred to in clause (1), (2) or (3)
which has been assumed or guaranteed by the Company; 
  
 provided that Senior Debt does not include: 
  
 (1) Indebtedness of the Company that by its terms is expressly equal or subordinate in right of payment to the Securities, 
  
 (2) accounts payable or any other Indebtedness of the Company to trade creditors created or assumed by the Company in the ordinary course
of business in connection with the obtaining of materials or services, or 
  
 (3) any liability for federal, state, local or other taxes owed or owing by the Company. 
  
 “Shelf Registration Statement” has the meaning specified in the Registration Rights Agreement. 
  
 “Significant Subsidiary” means any Subsidiary
which is a “significant subsidiary” within the meaning of Rule 405 under the Securities Act. 
  
 “Special Record Date” for the payment of any Defaulted Interest means a date fixed by the Trustee pursuant to Section 2.17.

  
 “Specific Repurchase Date” has the
meaning specified in Section 11.1(a). 
  
 “Stated Maturity” means the date specified in any Security as the fixed date for the payment of principal on such Security or on which an installment of interest (including Additional Amounts, if any) on such Security is due and
payable. 
  
 “Stock Price” has the
meaning specified in Section 13.1(c). 
  
 “Stock Price Cap” has the meaning specified in Section 13.1(b). 
  
 “Stock Price Threshold” has the meaning specified in Section 13.1(b). 
  
 “Subsidiary” means a corporation more than 50% of
the outstanding voting stock of which is owned, directly or indirectly, by the Company or by one or more other Subsidiaries, or by the Company and one or more other Subsidiaries. For the purposes of this definition only, “voting stock”
means stock which ordinarily has voting power for the election of directors, whether at all times or only so long as no senior class of stock has such voting power by reason of any contingency. 
  
 “TIA” means the Trust Indenture Act of 1939, as
amended (15 U.S. Code Section 77aaa-77bbbb), as in effect on the date of this Indenture; provided, however, that in the event the TIA is amended after such date, “TIA” means, to the extent such amendment is applicable to this
Indenture, 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 exchange is open for business; 
  

 9 

 (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. 

 
 “Trading Price” of a 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 (regular day) 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 in the
composite transactions for the principal U.S. securities exchange on which such security is so listed; 
  
 (3) if such security is not so listed on a U.S. national or regional securities exchange, the closing sale price as reported by the Nasdaq
National Market; 
  
 (4) if such security is not
so reported, the last price quoted by Interactive Data Corporation for such security or, if Interactive Data Corporation is not quoting such price, a similar quotation service selected by the Company; 
  
 (5) if such security is not so quoted, the average of the
mid-point of the last bid and ask prices for such security from at least two dealers recognized as market-makers for such security; or 
  
 (6) if such security is not so quoted, the average of the last bid and ask prices for such security from a Reference Dealer. 

 
 “Transfer Agent” means any Person, which may be
the Company, authorized by the Company to exchange or register the transfer of Securities. 
  
 “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. 
  
 “U.S. Government Obligations” means: (1) direct obligations of the United States of America for
the payment of which the full faith and credit of the United States of America is pledged or (2) obligations of a person controlled or supervised by and acting as an agency or instrumentality of the United States of America, the payment of which is
unconditionally guaranteed as a full faith and credit obligation by the United States of America and which in either case, are non-callable at the option of the Company thereof. 
  

 10 

 “Vice President,” when used with respect to the Company, means any vice
president, whether or not designated by a number or a word or words added before or after the title “vice president.” 
  
 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 Securities; 
  
 “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 Securities 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 rule 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 have
the meanings assigned to them in this Article 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. 
  
 ARTICLE 2 
  
 THE
SECURITIES 
  
 Section 2.1 Title and Terms. 

 
 (a) The Securities shall be known and designated as the “1.50%
Convertible Subordinated Debentures due 2024” of the Company. The aggregate principal amount of Securities which may be authenticated and delivered under this Indenture is limited to $90,000,000 (or 
  

 11 

 $100,000,000 if the option set forth in Section 3 of the Purchase Agreement is exercised in full), except for Securities
authenticated and delivered upon registration of, transfer of, or in exchange for, or in lieu of other Securities pursuant to Section 2.7, 2.8, 2.9, 2.12, 7.5, 10.6, 11.1 or 12.2. The Securities shall be issuable in denominations of $1,000 or
integral multiples thereof. 
  
 (b) The Securities shall mature on
October 1, 2024. 
  
 (c) Interest shall accrue from September 22,
2004 at the Interest Rate until the principal thereof is paid or made available for payment. Interest shall be payable semiannually in arrears on April 1 and October 1 in each year, commencing April 1, 2005. 
  
 (d) Interest on the Securities shall be computed (i) for any full semi-annual
period for which a particular Interest Rate is applicable, on the basis of a 360-day year of twelve 30-day months and (ii) for any period for which a particular Interest Rate is applicable shorter than a full semiannual period for which interest is
calculated, on the basis of a 30-day month and, for such periods of less than a month, the actual number of days elapsed over a 30-day month. 
  
 (e) A Holder of any Security at the close of business on a Regular Record Date shall be entitled to receive interest (including Additional Amounts, if
any) on such Security on the corresponding Interest Payment Date. A Holder of any Security which is converted after the close of business on a Regular Record Date and prior to the corresponding Interest Payment Date (other than any Security whose
Maturity is prior to such Interest Payment Date) shall be entitled to receive interest (including Additional Amounts, if any) on the principal amount of such Security, notwithstanding the conversion of such Security prior to such Interest Payment
Date. However, any such Holder which surrenders any such Security for conversion during the period between the close of business on such Regular Record Date and ending with the opening of business on the corresponding Interest Payment Date shall be
required to pay the Company an amount equal to the interest (including Additional Amounts, if any) on the principal amount of such Security so converted, which is payable by the Company to such Holder on such Interest Payment Date, at the time such
Holder surrenders such Security for conversion. Notwithstanding the foregoing, any such Holder which surrenders for conversion any Security which has been called for redemption by the Company on a date that is after a Record Date but prior to the
corresponding Interest Payment Date in a notice of redemption given by the Company pursuant to Section 10.4 shall be entitled to receive (and retain) such interest (including Additional Amounts, if any) and need not pay the Company an amount equal
to the interest (including Additional Amounts, if any) on the principal amount of such Security so converted at the time such Holder surrenders such Security for conversion. 
  
 (f) Principal of, and premium, if any, and interest (including Additional Amounts, if any) on, Global Securities shall be
payable to the Depositary in immediately available funds. 
  
 (g)
Principal and premium, if any, on Physical Securities shall be payable at the office or agency of the Company maintained for such purpose, initially the Corporate Trust Office of the Trustee. Interest (including Additional Amounts, if any) on
Physical Securities will be payable by (i) U.S. Dollar check mailed to the address of the Person entitled thereto as such address shall appear in the Register, or (ii) upon application to the Registrar not later than the relevant Record Date by a
Holder of an aggregate principal amount of Securities in excess of $5,000,000, wire transfer in immediately available funds to an account within the United States, which application shall remain in effect until the Holder notifies, in writing, the
Registrar to the contrary. 
  
 (h) The Securities shall be
redeemable at the option of the Company as provided in Article 10. 
  

 12 

 (i) The Securities shall be repurchaseable by the Company at the option of Holders as provided in Article
11. 
  
 (j) The Securities shall be convertible at the option of
the Holders as provided in Article 12. 
  
 (k) The Securities
shall be subordinated in right of payment to Senior Debt of the Company as provided in Article 14. 
  
 Section 2.2 Form of Securities. 
  
 (a) Except as otherwise provided pursuant to this Section 2.2, the Securities are issuable in fully registered form without coupons in substantially the
form of Exhibit A hereto, with such applicable legends as are provided for in Section 2.3. The Securities are not issuable in bearer form. The terms and provisions contained in the form of Security shall constitute, and are hereby expressly
made, a part of this Indenture and to the extent applicable, the Company and the Trustee, by their execution and delivery of this Indenture, expressly agree to such terms and provisions and to be bound thereby. Any of the Securities may have such
letters, numbers or other marks of identification and such notations, legends and endorsements as the officers executing the same may approve (execution thereof to be conclusive evidence of such approval) and as are not inconsistent with the
provisions of this Indenture, or as may be required to comply with any law or with any rule or regulation made pursuant thereto or with any rule or regulation of any securities exchange or automated quotation system on which the Securities may be
listed or designated for issuance, or to conform to usage. 
  
 (b)
The Securities are being offered and sold by the Company pursuant to the Purchase Agreement. The Securities shall be issued initially in the form of one or more permanent global Securities in fully registered form without interest coupons,
substantially in the form of Exhibit A hereto, with the applicable legends as provided in Section 2.3 (each a “Global Security” and collectively the “Global Securities”). Each Global Security shall be duly
executed by the Company and authenticated and delivered by the Trustee, and shall be registered in the name of the Depositary or its nominee and retained by the Trustee, as Custodian, at its Corporate Trust Office, for credit to the accounts of the
Agent Members holding the Securities evidenced thereby. The aggregate principal amount of the Global Securities may from time to time be increased or decreased by adjustments made on the records of the Trustee, as Custodian, and of the Depositary or
its nominee, as hereinafter provided. 
  
 (c) Physical Securities
acquired by QIBs in accordance with Rule 144A may be exchanged for interests in Global Securities pursuant to Section 2.9(b). 
  
 Section 2.3 Legends. 
  
 (a) Restricted Securities Legends. 
  
 Each Security issued hereunder shall, upon issuance, bear the legend set forth in Section 2.3(a)(i), and each stock certificate representing shares of the
Common Stock issued upon conversion of any Security issued hereunder, shall, upon issuance, bear the legend set forth in Section 2.3(a)(ii) (each such legend, a “Restricted Securities Legend”), and such legend shall not be removed
except as provided in Section 2.3(a)(iii). Each Security that bears or is required to bear the Restricted Securities Legend set forth in Section 2.3(a)(i) (together with each stock certificate representing shares of the Common Stock issued upon
conversion of such Security that bears or is required to bear the Restricted Securities Legend set forth in Section 2.3(a)(ii), collectively, the 
  

 13 

 “Restricted Securities”) shall be subject to the restrictions on transfer set forth in this Section
2.3(a) (including the Restricted Securities Legend set forth below), and the Holder of each such Restricted Security, by such Holder’s acceptance thereof, shall be deemed to have agreed to be bound by all such restrictions on transfer.

  
 As used in Section 2.3(a), the term “transfer”
encompasses any sale, pledge, transfer or other disposition whatsoever of any Restricted Security. 
  
 (i) Restricted Securities Legend for Securities. 
  
 Except as provided in Section 2.3(a)(iii), until two years after the original issuance date of any Security, any certificate
evidencing such Security (and all Securities issued in exchange therefor or substitution thereof, other than stock certificates representing shares of the Common Stock, if any, issued upon conversion thereof which shall bear the legend set forth in
Section 2.3(a)(ii), if applicable) shall bear a Restricted Securities Legend in substantially the following form: 
  
 THE DEBENTURE EVIDENCED BY THIS CERTIFICATE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY
STATE SECURITIES LAWS, AND MAY NOT BE OFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF EXCEPT AS SET FORTH IN THE FOLLOWING SENTENCE. BY ACQUISITION HEREOF, THE HOLDER: 
  
 (1) REPRESENTS THAT IT IS A “QUALIFIED INSTITUTIONAL BUYER” AS
DEFINED IN RULE 144A UNDER THE SECURITIES ACT; 
  
 (2) REPRESENTS
THAT IT IS PURCHASING FOR ITS OWN ACCOUNT OR THE ACCOUNT OF ONE OR MORE QUALIFIED INSTITUTIONAL BUYERS IN ACCORDANCE WITH RULE 144A; 
  
 (3) AGREES THAT IT WILL NOT WITHIN TWO YEARS AFTER THE ORIGINAL ISSUANCE OF THIS DEBENTURE RESELL OR OTHERWISE TRANSFER THE DEBENTURE EVIDENCED HEREBY OR
THE COMMON STOCK ISSUABLE UPON CONVERSION OF SUCH DEBENTURE EXCEPT (A) TO THE COMPANY OR ANY SUBSIDIARY THEREOF, (B) TO A QUALIFIED INSTITUTIONAL BUYER IN COMPLIANCE WITH RULE 144A UNDER THE SECURITIES ACT, (C) PURSUANT TO THE EXEMPTION FROM
REGISTRATION PROVIDED BY RULE 144 UNDER THE SECURITIES ACT (IF AVAILABLE), OR (D) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT AND WHICH CONTINUES TO BE EFFECTIVE AT THE TIME OF SUCH TRANSFER; AND

  
 (4) AGREES THAT IT WILL DELIVER TO EACH PERSON TO WHOM THE
DEBENTURE EVIDENCED HEREBY IS TRANSFERRED (OTHER THAN A TRANSFER PURSUANT TO CLAUSE 3(D) ABOVE) A NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND. 
  

 14 

 IN CONNECTION WITH ANY TRANSFER OF THE DEBENTURE EVIDENCED HEREBY WITHIN TWO YEARS AFTER THE ORIGINAL
ISSUANCE OF SUCH DEBENTURE (OTHER THAN A TRANSFER PURSUANT TO CLAUSE 3(D) ABOVE), THE HOLDER MUST CHECK THE APPROPRIATE BOX SET FORTH ON THE REVERSE HEREOF RELATING TO THE MANNER OF SUCH TRANSFER AND SUBMIT THIS CERTIFICATE TO THE TRUSTEE (OR ANY
SUCCESSOR TRUSTEE, AS APPLICABLE). IF THE PROPOSED TRANSFER IS PURSUANT TO CLAUSE 3(B) OR 3(C) ABOVE, THE HOLDER MUST, PRIOR TO SUCH TRANSFER, FURNISH TO THE TRUSTEE (OR ANY SUCCESSOR TRUSTEE, AS APPLICABLE), SUCH CERTIFICATIONS, LEGAL OPINIONS OR
OTHER INFORMATION AS THE COMPANY OR THE TRUSTEE MAY REASONABLY REQUIRE 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. THIS LEGEND
WILL BE REMOVED UPON THE EARLIER OF THE TRANSFER OF THE DEBENTURE EVIDENCED HEREBY PURSUANT TO CLAUSE 3(D) ABOVE OR THE EXPIRATION OF TWO YEARS FROM THE ORIGINAL ISSUANCE OF THE DEBENTURE EVIDENCED HEREBY. 
  
 (ii) Restricted Securities Legend for the Common Stock
Issued UponConversion of the Securities. 
  
 Until two
years after the original issuance date of any Security, each stock certificate representing shares of the Common Stock issued upon conversion of such Security shall bear a Restricted Securities Legend in substantially the following form: 

 
 THE SHARES OF COMMON STOCK EVIDENCED HEREBY HAVE NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS EXCEPT AS SET FORTH IN THE
FOLLOWING SENTENCE. THE HOLDER HEREOF AGREES THAT UNTIL THE EXPIRATION OF TWO YEARS AFTER THE ORIGINAL ISSUANCE OF THE NOTE UPON THE CONVERSION OF WHICH THE SHARES OF COMMON STOCK EVIDENCED HEREBY WAS ISSUED: 
  
 (1) IT WILL NOT OFFER, SELL, ASSIGN, TRANSFER, PLEDGE, ENCUMBER OR OTHERWISE
DISPOSE OF THE SHARES EXCEPT (A) TO THE COMPANY OR ANY SUBSIDIARY THEREOF, (B) TO A QUALIFIED INSTITUTIONAL BUYER IN COMPLIANCE WITH RULE 144A UNDER THE SECURITIES ACT, (C) PURSUANT TO THE EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE
SECURITIES ACT (IF AVAILABLE), OR (D) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT AND WHICH CONTINUES TO BE EFFECTIVE AT THE TIME OF SUCH TRANSFER; 
  
 (2) PRIOR TO ANY SUCH TRANSFER OTHER THAN A TRANSFER PURSUANT TO CLAUSE 1(D)
ABOVE, IT WILL FURNISH TO SUCH TRANSFER AGENT, (OR ANY SUCCESSOR 
  

 15 

 TRANSFER AGENT, AS APPLICABLE) SUCH CERTIFICATIONS, LEGAL OPINIONS OR OTHER INFORMATION AS THE TRANSFER
AGENT OR THE COMPANY MAY REASONABLY REQUIRE 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; AND 
  
 (3) IT WILL DELIVER TO EACH PERSON TO WHOM THE SHARES OF COMMON STOCK
EVIDENCED HEREBY ARE TRANSFERRED (OTHER THAN A TRANSFER PURSUANT TO CLAUSE 1(D) ABOVE) A NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND. 
  
 THIS LEGEND WILL BE REMOVED UPON THE EARLIER OF THE TRANSFER OF THE SHARES OF COMMON STOCK EVIDENCED HEREBY PURSUANT TO CLAUSE 1(D) ABOVE OR THE
EXPIRATION OF TWO YEARS FROM THE ORIGINAL ISSUANCE OF THE NOTE UPON THE CONVERSION OF WHICH THE SHARES OF COMMON STOCK EVIDENCED HEREBY WAS ISSUED. AS USED HEREIN, THE TERMS “UNITED STATES” AND “U.S. PERSON” HAVE THE MEANINGS
GIVEN TO THEM BY REGULATION S UNDER THE SECURITIES ACT. 
  
 (iii) Removal of the Restricted Securities Legends. 
  
 Each Security and each stock certificate representing shares of the Common Stock issued upon conversion of any Security (other than a stock certificate representing shares of the Common Stock issued upon conversion of
a Security that previously has been sold pursuant to a registration statement that has been declared effective under the Securities Act and which continues to be effective at the time of such sale) shall bear the applicable Restricted Securities
Legend set forth in Section 2.3(a)(i) or 2.3(a)(ii), as the case may be, until the earlier of: 
  
 (1) the date which is two years after the original issuance date of such Security; and 
  
 (2) the date such Security has, or such shares of the Common
Stock have been sold pursuant to a registration statement that has been declared effective under the Securities Act (and which continues to be effective at the time of such sale). 
  
 The Holder must give notice thereof to the Trustee and any transfer agent for the Common Stock, as applicable. 
  
 Notwithstanding the foregoing, the Restricted Securities Legend may be
removed from any Security or any stock certificate representing shares of the Common Stock issued upon conversion of any Security if there is delivered to the Company such satisfactory evidence, which may include an opinion of independent counsel,
as may be reasonably required by the Company, that neither such legend nor the restrictions on transfer set forth therein are required to ensure that transfers of such Security or shares of the Common Stock issued upon conversion of Securities, as
the case may be, will not violate the registration requirements of the Securities Act or the qualification requirements under any state securities laws. Upon provision of such satisfactory evidence, at the written direction of the Company, (i) in
the case of a Security, the Trustee shall authenticate and deliver in exchange for such Security another 
  

 16 

 Security or Securities having an equal aggregate principal amount that does not bear such legend or (ii) in the case of a
stock certificate representing shares of the Common Stock, the transfer agent for the Common Stock shall authenticate and deliver in exchange for the stock certificate or stock certificates representing such shares of Common Stock bearing such
legend, one or more new stock certificates representing a like aggregate number of shares of Common Stock that do not bear such legend. If the Restricted Securities Legend has been removed from a Security or stock certificates representing shares of
the Common Stock issued upon conversion of any Security as provided above, no other Security issued in exchange for all or any part of such Security or stock certificates representing shares of the Common Stock issued upon conversion of such
Security shall bear such legend, unless the Company has reasonable cause to believe that such other Security is a “restricted security” (or such shares of Common Stock are “restricted securities”) within the meaning of Rule 144
and instructs the Trustee in writing to cause a Restricted Securities Legend to appear thereon. 
  
 Any Security (or Security issued in exchange or substitution therefor) as to which such restrictions on transfer shall have expired in accordance with
their terms or as to which the conditions for removal of the Restricted Securities Legend set forth in Section 2.3(a)(i) as set forth therein have been satisfied may, upon surrender of such Security for exchange to the Registrar in accordance with
the provisions of Section 2.7, be exchanged for a new Security or Securities, of like tenor and aggregate principal amount, which shall not bear the Restricted Securities Legend required by Section 2.3(a)(i). 
  
 Any stock certificate representing shares of the Common Stock issued upon
conversion of any Security as to which such restrictions on transfer shall have expired in accordance with their terms or as to which the conditions for removal of the Restricted Securities Legend set forth in Section 2.3(a)(ii) as set forth therein
have been satisfied may, upon surrender of the stock certificates representing such shares of Common Stock for exchange in accordance with the procedures of the transfer agent for the Common Stock, be exchanged for a new stock certificate or stock
certificates representing a like aggregate number of shares of Common Stock, which shall not bear the Restricted Securities Legend required by Section 2.3(a)(ii). 
  
 (b) Global Security Legend. 
  
 Each Global Security shall also bear the following legend on the face thereof: 
  
 THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE
REFERRED TO HEREIN. THIS GLOBAL SECURITY MAY NOT BE EXCHANGED OR TRANSFERRED, IN WHOLE OR IN PART, FOR A SECURITY REGISTERED IN THE NAME OF ANY PERSON OTHER THAN DTC OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES SET FORTH IN THE
INDENTURE. BENEFICIAL INTERESTS IN THIS GLOBAL SECURITY MAY NOT BE TRANSFERRED EXCEPT IN ACCORDANCE WITH THE INDENTURE. 
  
 (c) Legend for Physical Securities. 
  
 Physical Securities, in addition to the legend set forth in Section 2.3(a)(i), will also bear a legend substantially in the following form: 
  
 THIS SECURITY WILL NOT BE ACCEPTED IN EXCHANGE FOR A BENEFICIAL INTEREST IN
A GLOBAL SECURITY UNLESS THE HOLDER OF THIS SECURITY, SUBSEQUENT TO SUCH EXCHANGE, WILL HOLD NO DEBENTURES. 
  

 17 

 Section 2.4 Execution, Authentication, Delivery and Dating. 
  
 Two Officers of the Company shall execute the Securities on behalf of the
Company by manual or facsimile signature. If an Officer of the Company whose signature is on a Security no longer holds that office at the time the Security is authenticated, the Security shall be valid nevertheless. 
  
 At any time and from time to time after the execution and delivery of this
Indenture, the Company may deliver Securities executed by the Company to the Trustee for authentication, together with a Company Order for the authentication and delivery of such Securities, and the Trustee in accordance with such Company Order
shall authenticate and deliver such Securities as in this Indenture provided and not otherwise. 
  
 Each Security shall be dated the date of its authentication. 
  
 No Security shall be entitled to any benefit under this Indenture, or be valid or obligatory for any purpose, unless there appears on such Security a
certificate of authentication substantially in the form provided for herein executed by or on behalf of the Trustee by manual signature, and such certificate upon any Security shall be conclusive evidence, and the only evidence, that such Security
has been duly authenticated and delivered hereunder. 
  
 The
Trustee may appoint an authenticating agent or agents reasonably acceptable to the Company with respect to the Securities. Unless limited by the terms of such appointment, an authenticating agent may authenticate Securities whenever the Trustee may
do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such agent. 
  
 Section 2.5 Registrar and Paying Agent. 
  
 The Company shall maintain an office or agency where Securities may be presented for registration of transfer or for exchange (the
“Registrar”) and an office or agency where Securities may be presented for payment (the “Paying Agent”). The Registrar shall keep a register of the Securities (the “Register”) and of their transfer
and exchange. The Company may appoint one or more co-Registrars and one or more additional Paying Agents for the Securities. The term “Paying Agent” includes any additional paying agent and the term “Registrar” includes any
additional registrar. The Company may change any Paying Agent or Registrar without prior notice to any Holder. 
  
 The Company will cause each Paying Agent (other than the Trustee) to execute and deliver to the Trustee an instrument in which such Paying Agent shall
agree with the Trustee, subject to the provisions of this Section, that such Paying Agent will: 
  
 (1) hold all sums held by it for the payment of the principal of and premium, if any, or interest (including Additional Amounts, if any)
on Securities in trust for the benefit of the Persons entitled thereto until such sums shall be paid to such Persons or otherwise disposed of as provided in this Indenture; 
  
 (2) give the Trustee notice of any Default by the Company in the making of any payment of principal and
premium, if any, or interest (including Additional Amounts, if any); and 
  
 (3) at any time during the continuance of any such Default, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent. 
  

 18 

 The Company shall give prompt written notice to the Trustee of the name and address of any Agent who is
not a party to this Indenture. If the Company fails to appoint or maintain another entity as Registrar or Paying Agent, the Trustee shall act as such. The Company or any Affiliate of the Company may act as Paying Agent or Registrar; provided,
however, that none of the Company, its subsidiaries or the Affiliates of the foregoing shall act: 
  
 (i) as Paying Agent in connection with redemptions, offers to purchase and discharges, except as otherwise specified in this Indenture,
and 
  
 (ii) as Paying Agent or Registrar if a
Default or Event of Default has occurred and is continuing. 
  
 The Company hereby initially appoints the Trustee as Registrar and Paying Agent for the Securities. 
  
 Section 2.6 Paying Agent to Hold Assets in Trust. 
  
 Not later than 11:00 a.m. (New York City time) on each due date of the principal, premium, if any, and interest (including Additional Amounts, if any) on
any Securities, the Company shall deposit with one or more Paying Agents money in immediately available funds in an aggregate amount sufficient to pay the principal, premium, if any, and interest (including Additional Amounts, if any) due on such
date. 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 (if other than the Company) shall have no further liability for the money so paid over to the
Trustee. 
  
 If the Company shall act as a Paying Agent, it shall,
prior to or on each due date of the principal of and premium, if any, or interest (including Additional Amounts, if any) on any of the Securities, segregate and hold in trust for the benefit of the Holders a sum sufficient with monies held by all
other Paying Agents, to pay the principal and premium, if any, or interest (including Additional Amounts, if any) so becoming due until such sums shall be paid to such Persons or otherwise disposed of as provided in this Indenture, and shall
promptly notify the Trustee of its action or failure to act. 
  
 Section 2.7 General Provisions Relating to Transfer and Exchange. 
  
 The Securities are issuable only in registered form. A Holder may transfer a Security only by written application to the Registrar stating the name of the proposed transferee and otherwise complying with the terms of
this Indenture. No such transfer shall be effected until, and such transferee shall succeed to the rights of a Holder only upon, final acceptance and registration of the transfer by the Registrar in the Register. Furthermore, any Holder of a Global
Security shall, by acceptance of such Global Security, agree that transfers of beneficial interests in such Global Security may be effected only through a book-entry system maintained by the Holder of such Global Security (or its agent) and that
ownership of a beneficial interest in the Global Security shall be required to be reflected in a book-entry. Notwithstanding the foregoing, in the case of a Restricted Security, a beneficial interest in a Global Security being transferred in
reliance on an exemption from the registration requirements of the Securities Act other than in accordance with Rule 144 or Rule 144A may only be transferred for a Physical Security. 
  
 When Securities are presented to the Registrar with a request to register the transfer or to exchange them for an equal
aggregate principal amount of Securities of other authorized denominations, the Registrar shall register the transfer or make the exchange as requested if its requirements for such transactions are met (including that such Securities are duly
endorsed or accompanied by a written instrument of transfer duly executed by the Holder thereof or by an attorney who is authorized in writing 
  

 19 

 to act on behalf of the Holder). Subject to Section 2.4, to permit registrations of transfers and exchanges, the Company
shall execute and the Trustee shall authenticate Securities at the Registrar’s request. No service charge shall be made for any registration of transfer or exchange or redemption of the Securities, but the Company may require payment of a sum
sufficient to cover any transfer tax or similar governmental charge payable in connection therewith (other than any such transfer taxes or other similar governmental charge payable upon exchanges pursuant to Section 2.14, 7.5 or 10.6). 

 
 Neither the Company nor the Registrar shall be required to exchange or
register a transfer of any Securities: 
  
 (1)
for a period of 15 Business Days prior to the day of any selection of Securities for redemption under Article 10; 
  
 (2) so selected for redemption or, if a portion of any Security is selected for redemption, the portion thereof selected for redemption;
or 
  
 (3) surrendered for conversion or, if a
portion of any Security is surrendered for conversion, the portion thereof surrendered for conversion. 
  
 Section 2.8 Book-Entry Provisions for the Global Securities. 
  
 (a) The Global Securities initially shall: 
  
 (i) be registered in the name of the Depositary (or a nominee thereof); 
  
 (ii) be delivered to the Trustee as custodian for such
Depositary; 
  
 (iii) bear the Restricted
Securities Legend set forth in Section 2.3(a)(i); and 
  
 (iv) the Global Securities Legend set forth in Section 2.3(b). 
  
 Members of, or participants in, the Depositary (“Agent Members”) shall have no rights under this Indenture with respect to any Global Security held on their behalf by the Depositary, or the Trustee as its custodian, or
under such Global Security, 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 such Global Security for all purposes whatsoever. Notwithstanding the foregoing, nothing
contained herein shall prevent the Company, the Trustee or any agent of the Company or Trustee from giving effect to any written certification, proxy or other authorization furnished by the Depositary or impair, as between the Depositary and the
Agent Members, the operation of customary practices governing the exercise of the rights of a Holder of any Security. 
  
 (b) The Holder of a Global Security may grant proxies and otherwise authorize any Person, including DTC participants and Persons that may hold interests
through DTC participants, to take any action which a Holder is entitled to take under this Indenture or the Securities. 
  
 (c) A Global Security may not be transferred, in whole or in part, to any Person other than the Depositary (or a nominee thereof), and no such transfer to
any such other Person may be registered. Beneficial interests in a Global Security may be transferred in accordance with the rules and procedures of the Depositary and the provisions of Section 2.9. 
  

 20 

 (d) If at any time: 
  
 (i) the Depositary notifies the Company in writing that it is no longer willing or able to continue to act
as Depositary for the Global Securities, or the Depositary ceases to be a “clearing agency” registered under the Exchange Act and a successor depositary for the Global Securities is not appointed by the Company within 90 days of such
notice or cessation; 
  
 (ii) the Company, at its
option, notifies the Trustee in writing that it elects to cause the issuance of the Physical Securities under this Indenture in exchange for all or any part of the Securities represented by a Global Security or Global Securities; or 
  
 (iii) an Event of Default has occurred and is continuing and
the Registrar has received a request from the Depositary for the issuance of Physical Securities in exchange for such Global Security or Global Securities; 
  
 the Depositary shall surrender such Global Security or Global Securities to the Trustee for cancellation and the Company shall execute, and the Trustee, upon receipt of
an Officers’ Certificate and Company Order for the authentication and delivery of Securities, shall authenticate and deliver in exchange for such Global Security or Global Securities, Physical Securities in an aggregate principal amount equal
to the aggregate principal amount of such Global Security or Global Securities. Such Physical Securities shall be registered in such names as the Depositary shall identify in writing as the beneficial owners of the Securities represented by such
Global Security or Global Securities (or any nominee thereof). 
  
 (e) Notwithstanding the foregoing, in connection with any transfer of beneficial interests in a Global Security to the beneficial owners thereof pursuant to Section 2.8(d), the Registrar shall reflect on its books and records the date and a
decrease in the principal amount of such Global Security in an amount equal to the principal amount of the beneficial interests in such Global Security to be transferred. 
  
 Section 2.9 Special Transfer Provisions. 
  
 Unless a Security is (i) transferred after the time period referred to in Rule 144(k) under the Securities Act or (ii) sold
pursuant to a registration statement that has been declared effective under the Securities Act (and which continues to be effective at the time of such sale), the following provisions shall apply to any sale, pledge or other transfer of Securities:

  
 (a) Transfer of Securities to a QIB. 

	

  
 The following
provisions shall apply with respect to the registration of any proposed transfer of Securities to a QIB: 
  
 (i) If the Securities to be transferred consist of a beneficial interest in the Global Securities, the transfer of such interest may be
effected only through the book-entry systems maintained by the Depositary. 
  
 (ii) If the Securities to be transferred consist of Physical Securities, the Registrar shall register the transfer if such transfer is being made by a proposed transferor who has checked the box provided for on the
form of Security 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
Security stating or has otherwise advised the Company and the Registrar in writing that: 
  

	 	(a)	it is purchasing the Securities for its own account or an account with respect to which it exercises sole investment discretion, in each case for investment and not with a view to
distribution; 

  

 21 

	 	(b)	it and any such account is a QIB within the meaning of Rule 144A; 

  

	 	(c)	it is aware that the sale to it is being made in reliance on Rule 144A; 

  

	 	(d)	it 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

  

	 	(e)	it is aware that the transferor is relying upon its foregoing representations in order to claim the exemption from registration provided by Rule 144A. 

  
 In addition, the Registrar shall reflect on its books and records the date
and an increase in the principal amount of the Global Securities in an amount equal to the aggregate principal amount of the Physical Securities to be transferred, and the Trustee shall cancel the Physical Securities so transferred. 
  
 (b) Other Exchanges. 
  
 In the event that Global Securities are exchanged for Securities in
definitive registered form pursuant to Section 2.8 prior to the effectiveness of a Shelf Registration Statement with respect to such Securities, such Securities may be exchanged only in accordance with the provisions of clause (a) above (including
the certification requirements intended to ensure that such transfers comply with Rule 144A) and such other procedures as may from time to time be adopted by the Company. 
  
 (c) General. 
  
 By its acceptance of any Security bearing the Restricted Securities Legend, each Holder of such a Security acknowledges the restrictions on transfer of
such Security set forth in this Indenture and agrees that it will transfer such Security only as provided in this Indenture. The Registrar shall not register a transfer of any Security unless such transfer complies with the restrictions on transfer
of such Security set forth in this Indenture. The Registrar shall be entitled to receive and rely on written instructions from the Company verifying that such transfer complies with such restrictions on transfer. In connection with any transfer of
Securities, each Holder agrees by its acceptance of the Securities to furnish the Registrar or the Company such certifications, legal opinions or other information as either of them may reasonably require to confirm that such transfer is being made
pursuant to an exemption from, or a transaction not subject to, the registration requirements of the Securities Act; provided that the Registrar shall not be required to determine (but may rely on a determination made by the Company with
respect to) the sufficiency of any such certifications, legal opinions or other information. 
  
 The Registrar shall retain copies of all certifications, letters, notices and other written communications received pursuant to Section 2.8 hereof or this Section 2.9. 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. 
  

 22 

 Section 2.10 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 and shall otherwise comply with Section 312(a) of the TIA. If the Trustee is not the Registrar, the Company shall furnish to the Trustee prior to or on each Interest Payment Date and at such other times as the Trustee
may request in writing a list in such form and as of such date as the Trustee may reasonably require of the names and addresses of Holders relating to such Interest Payment Date or request, as the case may be. 
  
 Section 2.11 Persons Deemed Owners. 
  
 The Company, the Trustee and any agent of the Company or the Trustee may
treat the Holder as the owner of such Security for the purpose of receiving payment of principal of and premium, if any, and interest (including Additional Amounts, if any) on such Security and for all other purposes whatsoever, whether or not such
Security be overdue, and notwithstanding any notice of ownership or writing thereon, or any notice of previous loss or theft or other interest therein. 
  
 Section 2.12 Mutilated, Destroyed, Lost or Stolen Securities. 
  
 If any mutilated Security is surrendered to the Trustee, the Company shall execute and the Trustee shall authenticate and
deliver in exchange therefor a new Security of like tenor and principal amount and bearing a number not contemporaneously outstanding. 
  
 If there is delivered to the Company and the Trustee: 
  
 (1) evidence to their satisfaction of the destruction, loss or theft of any Security; and 
  
 (2) such security or indemnity as may be required by them to
save each of them and any agent of either of them harmless, then, in the absence of notice to the Company or the Trustee that such Security has been acquired by a bona fide purchaser, the Company shall execute and, upon request, the Trustee
shall authenticate and deliver, in lieu of any such destroyed, lost or stolen Security, a new Security of like tenor and principal amount and bearing a number not contemporaneously outstanding. 
  
 In case any such mutilated, destroyed, lost or stolen Security has become or
is about to become due and payable, the Company in its discretion, but subject to any conversion rights, may, instead of issuing a new Security, pay such Security, upon satisfaction of the condition set forth in the preceding paragraph. 

 
 Upon the issuance of any new Security under this Section, the Company may
require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee) connected therewith. 
  
 Every new Security issued pursuant to this Section 2.12 in lieu of any
destroyed, lost or stolen Security shall constitute an original additional contractual obligation of the Company, whether or not the destroyed, lost or stolen Security shall be at any time enforceable by anyone, and such new Security shall be
entitled to all the benefits of this Indenture equally and proportionately with any and all other Securities duly issued hereunder. 
  

 23 

 The provisions of this Section 2.12 are exclusive and shall preclude (to the extent lawful) all other
rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities. 
  
 Section 2.13 Treasury Securities. 
  
 In determining whether the Holders of the requisite principal amount of Outstanding Securities are present at a meeting of Holders for quorum purposes or
have given any request, demand, authorization, direction, notice, consent or waiver hereunder, Securities owned by the Company or any Affiliate of the Company shall be disregarded and deemed not to be Outstanding, except that, in determining whether
the Trustee shall be protected in relying upon any such determination as to the presence of a quorum or upon any such request, demand, authorization, direction, notice, consent or waiver, only such Securities of which the Trustee has received
written notice and are so owned shall be so disregarded. 
  
 Section 2.14 Temporary Securities. 
  
 Pending
the preparation of Securities in definitive form, the Company may execute and the Trustee shall, upon written request of the Company, authenticate and deliver temporary Securities (printed or lithographed). Temporary Securities shall be issuable in
any authorized denomination, and substantially in the form of the Securities in definitive form but with such omissions, insertions and variations as may be appropriate for temporary Securities, all as may be determined by the Company. Every such
temporary Security shall be executed by the Company and authenticated by the Trustee upon the same conditions and in substantially the same manner, and with the same effect, as the Securities in definitive form. Without unreasonable delay, the
Company will execute and deliver to the Trustee Securities in definitive form (other than in the case of Securities in global form) and thereupon any or all temporary Securities (other than any such Securities in global form) may be surrendered in
exchange therefor, at each office or agency maintained by the Company pursuant to Section 9.2 and the Trustee shall authenticate and deliver in exchange for such temporary Securities an equal aggregate principal amount of Securities in definitive
form. Such exchange shall be made by the Company at its own expense and without any charge therefor. Until so exchanged, the temporary Securities shall in all respects be entitled to the same benefits and subject to the same limitations under this
Indenture as Securities in definitive form authenticated and delivered hereunder. 
  
 Section 2.15 Cancellation. 
  
 All securities surrendered for payment, redemption, repurchase, conversion, registration of transfer or exchange shall, if surrendered to any Person other than the Trustee, be delivered to the Trustee. All Securities so delivered shall be
canceled promptly by the Trustee, and no Securities shall be issued in lieu thereof except as expressly permitted by any of the provisions of this Indenture. The Trustee shall destroy canceled Securities and, after such destruction, shall deliver a
certificate of such destruction to the Company. If the Company shall acquire any of the Securities, such acquisition shall not operate as a redemption or satisfaction of the indebtedness represented by such Securities unless the same are delivered
to the Trustee for cancellation. 
  
 Section 2.16 CUSIP
Numbers. 
  
 The Company in issuing the Securities may use
“CUSIP” numbers (if then generally in use), and the Trustee shall use CUSIP numbers in notices of redemption or exchange as a convenience to Holders; provided that any such notice shall state that no representation is made as to the
correctness of 
  

 24 

 such numbers either as printed on the Securities or as contained in any such notice and that reliance may be placed only
on the other identification numbers printed on the Securities, and any such redemption shall not be affected by any defect in or omission of such numbers. The Company shall promptly notify the Trustee of any change in the CUSIP numbers. 

 
 Section 2.17 Defaulted Interest. 
  
 If the Company fails to make a payment of interest (including Additional
Amounts, if any) on any Security when due and payable (“Defaulted Interest”), it shall pay such Defaulted Interest plus (to the extent lawful) any interest payable on the Defaulted Interest, in any lawful manner. It may elect to pay
such Defaulted Interest, plus any such interest payable on it, to the Persons who are Holders of such Securities on which the interest is due on a subsequent Special Record Date. The Company shall notify the Trustee in writing of the amount of
Defaulted Interest proposed to be paid on each such Security. The Company shall fix any such Special Record Date and payment date for such payment. At least 15 days before any such Special Record Date, the Company shall mail to Holders affected
thereby a notice that states the Special Record Date, the Interest Payment Date, and amount of such interest (and such Additional Amounts, if any) to be paid. 
  

ARTICLE 3 
  
 SATISFACTION AND DISCHARGE 
  
 Section 3.1 Satisfaction and Discharge of Indenture. 
  
 When: 
  
 (1) the
Company shall deliver to the Trustee for cancellation all Securities previously authenticated (other than any Securities which have been destroyed, lost or stolen and in lieu of, or in substitution for which, other Securities shall have been
authenticated and delivered) and not previously canceled; or 
  
 (2) all the Securities not previously canceled or delivered to the Trustee for cancellation shall have become due and payable, or are by their terms to become due and payable within one year or are to be called for
redemption within one year under arrangements satisfactory to the Trustee for the giving of notice of redemption; 
  
 (3) the Company shall deposit with the Trustee, in trust, cash in U.S. Dollars and/or U.S. Government Obligations which through the
payment of interest and principal in respect thereof, in accordance with their terms, will provide (and without reinvestment and assuming no tax liability will be imposed on such Trustee), not later than one day before the due date of any payment of
money, an amount in cash, sufficient, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, to pay principal of, premium, if any, or interest
(including Additional Amounts, if any) on all of the Securities (other than any Securities which shall have been mutilated, destroyed, lost or stolen and in lieu of or in substitution for which other Securities shall have been authenticated and
delivered) not previously canceled or delivered to the Trustee for cancellation, on the dates such payments of principal, premium, if any, or interest (including Additional Amounts, if any) are due to such date of Maturity or redemption, as the case
may be; and 
  

 25 

 (4) the Company shall have delivered to the Trustee an Officers’ Certificate and an
Opinion of Counsel to the effect that (x) the Company has received from, or there has been published by, the Internal Revenue Service a ruling or (y) since the date of execution of this Indenture, there has been a change in the applicable federal
income tax law, in the case of either clause (x) or (y) to the effect that, and based thereon such Opinion of Counsel shall confirm that, the Holders will not recognize income, gain or loss for federal income tax purposes as a result of such deposit
and discharge and will be subject to federal income tax on the same amount and in the same manner and at the same times as would have been the case if such deposit and discharge had not occurred; and 
  
 if, in the case of either clause (3) or (4), 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 Securities; (ii) rights hereunder
of Holders to receive payments of principal of and premium, if any, and interest (including Additional Amounts, if any) on, the Securities 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 (iii) the rights, obligations and immunities of the Trustee hereunder) and the Trustee, on demand of the Company accompanied by an Officers’ Certificate and an Opinion of Counsel and at the cost and
expense of the Company, shall execute proper instruments acknowledging satisfaction of and discharging this Indenture; provided, however, that the Company shall reimburse the Trustee for all amounts due the Trustee under Section 5.8 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 Securities.

  
 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 14, either directly or through any Paying Agent (including the Company if acting as its own Paying Agent), to the
Holders of the particular Securities 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 Additional Amounts, 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 Securities subsequently converted shall be returned to the Company upon the earlier of the request of the Company and the
date on which there are no Securities outstanding. 
  
 Section
3.3 Return of Unclaimed Monies. 
  
 The Trustee and the
Paying Agent shall pay to the Company any money held by them for the payment of principal or premium, if any, or interest (including Additional Amounts, if any) that remains unclaimed for two years after the date upon which such payment shall have
become due. After payment to the Company, Holders entitled to the money must look to the Company for payment as general creditors unless an applicable abandoned property law designates another Person, and all liability of the Trustee and such Paying
Agent with respect to such money shall cease. 
  

 26 

 ARTICLE 4 
  

DEFAULTS AND REMEDIES 
  
 Section 4.1 Events of Default. 
  
 An “Event of Default” with respect to the Securities occurs when any of the following occurs (whatever the reason for such Event of Default and
whether it shall be occasioned by the provisions of Article 14 or 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) the Company defaults
in the payment of interest (including Additional Amounts, if any) on any of the Securities when it becomes due and payable and such default continues for a period of 30 days, whether or not such payment is prohibited by Article 14; or 
  
 (b) the Company defaults in the payment of the principal of
or premium, if any, on any of the Securities when it becomes due and payable at Maturity, upon redemption or exercise of a Repurchase Right or otherwise, whether or not such payment is prohibited by Article 14; or 
  
 (c) the Company defaults in the payment of the principal of
or premium, if any, on any of the Securities required to be purchased by the Company under Article 11 upon exercise of a Repurchase Right, whether or not such payment is prohibited by Article 14; or 
  
 (d) the Company defaults in the performance of, or the
Company breaches any, covenant or agreement contained in this Indenture or the Securities (other than a default specified in clause (a), (b) or (c) above) and such default or breach continues for a period of 60 consecutive days after written notice
of such breach or default shall have been given to the Company by the Trustee or to the Company and the Trustee by the Holders of 25% or more in aggregate principal amount of the Outstanding Securities; or 
  
 (e) the Company (i) defaults in the performance of any
covenant or agreement contained in any agreements, indentures or instruments under which the Company has incurred Indebtedness of $15,000,000 or more in the aggregate (not including any amounts the Company may owe under reimbursement or similar
obligations to banks, sureties or other entities which have issued letters of credit, surety bonds, performance bonds or other guarantees relating to the performance by the Company or its Subsidiaries of contractual obligations to customers, to the
extent any demands made under any such reimbursement or similar obligation relate to a draw under the related letter of credit or other instrument which draw is being contested in good faith through appropriate proceedings) whether such indebtedness
now exists or shall hereafter be created, and (ii) such default has caused the holders of such Indebtedness to declare such Indebtedness to be due and payable prior to its stated maturity and such Indebtedness has not been discharged in full or such
acceleration has not been rescinded or annulled by the 30th day after written notice of such default shall have been
given to the Company by the Trustee or to the Company and the Trustee by Holders of 25% or more in aggregate principal amount of the Outstanding Securities; provided that if the default under the agreement, indenture or instrument is remedied
or cured by the Company or waived by the holders of such Indebtedness before the entry of judgment in favor of the Trustee, then the Event of Default under this Indenture will be deemed likewise to have been remedied, cured or waived; or 

 

 27 

 (f) the entry by a court having jurisdiction in the premises of (i) a decree or order for
relief in respect of the Company in an involuntary case or proceeding under any applicable U.S. federal or state bankruptcy, insolvency, reorganization or other similar law or (ii) a decree or order adjudging the Company a bankrupt or insolvent, or
approving as properly filed a petition seeking reorganization, arrangement, adjustment or composition of or in respect of the Company under any applicable U.S. federal or state law, or appointing a Custodian of the Company or of any substantial part
of its property, or ordering the winding up or liquidation of its affairs, and the continuance of any such decree or order for relief or any such other decree or order unstayed and in effect for a period of 60 consecutive days; or 
  
 (g) the commencement by the Company of a voluntary case or
proceeding under any applicable U.S. federal or state bankruptcy, insolvency, reorganization or other similar law or of any other case or proceeding to be adjudicated a bankrupt or insolvent, or the consent by the Company to the entry of a decree or
order for relief in respect of the Company in an involuntary case or proceeding under any applicable U.S. federal or state bankruptcy, insolvency, reorganization or other similar law or to the commencement of any bankruptcy or insolvency case or
proceeding against the Company, or the filing by the Company of a petition or answer or consent seeking reorganization or relief under any applicable U.S. federal or state law, or the consent by the Company to the filing of such petition or to the
appointment of or the taking possession by a Custodian of the Company or of any substantial part of its property, or the making by the Company of an assignment for the benefit of creditors, or the admission by the Company in writing of its inability
to pay its debts generally as they become due, or the taking of corporate action by the Company expressly in furtherance of any such action. 
  
 Section 4.2 Acceleration of Maturity; Rescission and Annulment. 
  
 If an Event of Default with respect to Outstanding Securities occurs and is continuing, the Trustee or the Holders of at
least 25% in aggregate principal amount of the Outstanding Securities, by written notice to the Company, may declare due and payable 100% of the principal amount of all Outstanding Securities plus any accrued and unpaid interest (including
Additional Amounts, if any) to the date of payment. Upon a declaration of acceleration, such principal and accrued and unpaid interest (including Additional Amounts, if any) to the date of payment shall be immediately due and payable. 
  
 The Holders either (a) through notice to the Trustee of not less than a
majority in aggregate principal amount of the Outstanding Securities, or (b) by the adoption of a resolution, at a meeting of Holders of the Outstanding Securities at which a quorum is present, by the Holders of at least a majority in aggregate
principal amount of the Outstanding Securities represented at such meeting, may, on behalf of the Holders of all of the Securities, rescind and annul an acceleration and its consequences if: 
  
 (1) all existing Events of Default, other than the
nonpayment of principal of or interest on the Securities 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 such declaration of acceleration has been made
based on the existence of an Event of Default under Section 4.1(e) and the default with respect to Indebtedness for money borrowed which gave rise to such Event of Default has been remedied, cured or waived, then, without any further action by the
Holders, such declaration of acceleration shall be rescinded automatically and the consequences of such declaration shall be annulled. No such rescission or annulment shall affect any subsequent Default or impair any right consequent thereon.

  

 28 

 Section 4.3 Other Remedies. 
  
 If an Event of Default with respect to Outstanding Securities occurs and is continuing, the Trustee may pursue any available
remedy by proceeding at law or in equity to collect the payment of principal of or interest on the Securities or to enforce the performance of any provision of the Securities. 
  
 The Trustee may maintain a proceeding in which it may prosecute and enforce all rights of action and claims under this
Indenture or the Securities, even if it does not possess any of the Securities 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 Securities, or (b) by the
adoption of a resolution, at a meeting of Holders of the Outstanding Securities at which a quorum is present, by the Holders of at least a majority in aggregate principal amount of the Outstanding Securities represented at such meeting, may, on
behalf of the Holders of all of the Securities, 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 Additional Amounts, if any) on any Security
(provided, however, that subject to Section 4.7, the Holders of a majority in aggregate principal amount of the Outstanding Securities may rescind an acceleration and its consequences, including any related payment default that resulted from
such acceleration); or 
  
 (2) in respect of a
covenant or provision hereof which, under Section 7.2, cannot be modified or amended without the consent of the Holders of each Outstanding Security 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. 
  
 Section 4.5 Control by Majority. 
  
 The Holders of a majority in aggregate principal amount of the Outstanding Securities (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. 
  

 29 

 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 of any Security shall have any right to pursue any remedy with
respect to this Indenture or the Securities (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 Holders of at least 25% in aggregate principal amount of the Outstanding Securities 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 Securities (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 or to obtain preference or priority over another Holder. 
  
 Section 4.7 Unconditional Rights of Holders to Receive Payment and to Convert. 
  
 Notwithstanding any other provision in this Indenture, the Holder of any Security shall have the right, which is absolute
and unconditional, to receive payment of the principal of and premium, if any, and interest (including Additional Amounts, if any) on such Security on the Stated Maturity expressed in such Security (or, in the case of redemption, on the Redemption
Date, or in the case of the exercise of a Repurchase Right, on the Repurchase Date) and to convert such Security in accordance with Article 12, and to bring an action for the enforcement of any such payment on or after such respective dates and such
right to convert, and such rights 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 or Event of Default is made in the payment of any interest (including Additional Amounts, if any) on any Security when such
interest (including Additional Amounts, if any) becomes due and payable and such Default or Event of Default continues for a period of 30 days; or 
  
 (2) a Default or Event of Default is made in the payment of the principal of or premium, if any, on any Security at the Maturity thereof;

  

 30 

 the Company will, upon demand of the Trustee, pay to it, for the benefit of the Holders of such Securities, 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 Securities for principal and premium, if any, and interest (including Additional Amounts, 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 Additional Amounts, if any), calculated using the Interest Rate, 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 monies 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
of Securities 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 Securities 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 Additional Amounts, 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 Additional Amounts, if any)
owing and unpaid in respect of the Securities 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 of Securities allowed in such judicial proceeding; and 
  
 (2) to collect and receive any monies or other property payable or deliverable on any such claim and to distribute the same; 

 
 and any Custodian in any such judicial proceedings is hereby authorized by each Holder of
Securities to make such payments to the Trustee and, in the event that the Trustee shall consent to the making of such payments directly to the Holders of Securities, 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 5.8. 
  
 Nothing contained herein shall be deemed to authorize the Trustee to authorize or consent to or accept, or adopt on behalf of any Holder of a Security,
any plan of reorganization, arrangement, adjustment or composition affecting the Securities or the rights of any Holder thereof or to authorize the Trustee to vote in respect of the claim of any Holder of a Security in any such proceeding.

  

 31 

 Section 4.10 Restoration of Rights and Remedies. 
  
 If the Trustee or any Holder of a Security 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 of Securities 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. 
  
 Except as otherwise provided
with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities in the last paragraph of Section 2.12, no right or remedy conferred in this Indenture upon or reserved to the Trustee or to the Holders of Securities 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 of any Security 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 or by law to the Trustee or to the Holders of Securities may be exercised
from time to time, and as often as may be deemed expedient, by the Trustee or by the Holders of Securities, as the case may be. 
  
 Section 4.13 Application of Money Collected. 
  
 Subject to Article 14, any money collected by the Trustee pursuant to this Article 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 Additional Amounts, if any), upon presentation of the Securities 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 Additional Amounts, if any) on the Securities 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 Securities for principal and premium, if any, and interest (including Additional Amounts, if any), respectively; and 
  
 THIRD: Any remaining amounts shall be repaid to the Company. 
  

 32 

 Section 4.14 Undertaking for Costs. 
  
 All parties to this Indenture agree, and each Holder of any Security 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 Company, 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 Securities, or to any suit instituted by any Holder of any Security for the enforcement of the payment of the principal of or
premium, if any, or interest (including Additional Amounts, if any) on any Security on or after the Stated Maturity expressed in such Security (or, in the case of redemption or exercise of a Repurchase Right, on or after the Redemption Date) or for
the enforcement of the right to convert any Security in accordance with Article 12. 
  
 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 5 
  
 THE TRUSTEE 
  
 Section 5.1 Certain Duties and Responsibilities. 
  
 (a) Except during the continuance of an Event of Default,

  
 (1) The Trustee undertakes to perform such
duties and only such duties as are specifically set forth in this Indenture or the TIA, and no implied covenants or obligations shall be read into this Indenture against the Trustee; and 
  
 (2) In the absence of bad faith 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; provided, however, that 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 or opinions to determine whether or not, on their face, they conform to the requirements to this Indenture
(but need not investigate or confirm the accuracy of any facts stated therein). 
  
 (b) In case an Event of Default actually known to a Responsible Officer of the Trustee has occurred and is continuing, the Trustee shall
exercise such of the rights and powers 
  

 33 

 vested in it by this Indenture, and use the same degree of care and skill in their exercise, as a prudent
person would exercise or use under the circumstances in the conduct of such person’s own affairs. 
  
 (c) No provision of this Indenture shall be construed to relieve the Trustee from liability for its own negligent action, its own
negligent failure to act, or its own willful misconduct, except that: 
  
 (1) This paragraph (c) shall not be construed to limit the effect of paragraph (a) of this Section 5.1; 
  
 (2) The Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer, unless it shall be proved that
the Trustee was negligent in ascertaining the pertinent facts; and 
  
 (3) The Trustee shall not be liable with respect to any action taken or omitted to be taken by it in good faith in accordance with a direction received by it of the Holders of a majority in principal amount of the
Outstanding Securities (or such lesser amount as shall have acted at a meeting pursuant to the provisions of this Indenture) relating to the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising
any trust or power conferred upon the Trustee, under this Indenture. 
  
 (d) Whether or not herein expressly so provided, every provision of this Indenture relating to the conduct or affecting the liability of or affording protection to the Trustee shall be subject to the provisions of
this Section 5.1. 
  
 (e) No provision of this
Indenture shall require the Trustee to expend or risk its own funds or otherwise incur any liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers. The Trustee may refuse to perform any duty or
exercise any right or power unless it receives indemnity satisfactory to it against any loss, liability, cost or expense (including, without limitation, reasonable fees of counsel). 
  
 (f) The Trustee shall not be obligated to pay interest on any money or other assets received by it unless
otherwise agreed in writing with the Company. Assets held in trust by the Trustee need not be segregated from other funds except to the extent required by law. 
  

(g) The Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate,
statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, coupon, other evidence of indebtedness or other paper or document, but the Trustee, in its discretion, may make such further inquiry or
investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled to examine the books, records and premises of the Company, personally or by agent or
attorney at the sole cost of the Company and shall incur no liability or additional liability of any kind by reason of such inquiry or investigation. 
  
 (h) The Trustee shall not be deemed to have notice or actual knowledge of any Event of Default unless a Responsible Officer of the Trustee
has actual knowledge thereof or unless written notice of any event which is in fact a Default is received by the Trustee pursuant to Section 15.2, and such notice references the Securities and this Indenture. 
  

 34 

 (i) The rights, privileges, protections, immunities and benefits given to the Trustee
hereunder, including, without limitation, its right to be indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder, and each Paying Agent, authenticating agent, Conversion Agent or Registrar acting
hereunder. 
  
 Section 5.2 Certain Rights of Trustee.

  
 Subject to the provisions of Section 5.1 and subject to
Section 315(a) through (d) of the TIA: 
  
 (1)
The Trustee may 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 matter stated in the document. 
  
 (2) Before the Trustee acts or refrains from acting, it may
require an Officers’ Certificate or an Opinion of Counsel, or both. The Trustee shall not be liable for any action it takes or omits to take in good faith in reliance on the Officers’ Certificate or Opinion of Counsel. 
  
 (3) The Trustee may act through attorneys and agents and
shall not be responsible for the misconduct or negligence of any attorney or agent appointed with due care. 
  
 (4) The Trustee shall not be liable for any action taken or omitted to be taken by it in good faith which it believed to be authorized or
within the discretion or rights or powers conferred upon it by this Indenture, unless the Trustee’s conduct constitutes negligence. 
  
 (5) The Trustee may consult with counsel of its selection and the advice of such counsel as to matters of law shall be full and complete
authorization and protection in respect of any action taken, omitted or suffered by it hereunder in good faith and in accordance with the advice or opinion of such counsel. 
  
 (6) Unless otherwise specifically provided in this Indenture, any demand, request, direction or notice from
the Company shall be sufficient if signed by an Officer of the Company. 
  
 (7) The permissive rights of the Trustee to do things enumerated in this Indenture shall not be construed as a duty unless so specified herein. 
  
 Section 5.3 Individual Rights of Trustee. 
  
 The Trustee in its individual or any other capacity may become the owner or pledgee of Securities and may otherwise deal
with the Company or any Affiliate of the Company with the same rights it would have if it were not Trustee. However, in the event that the Trustee acquires any conflicting interest (as such term is defined in Section 310(b) of the TIA), it must
eliminate such conflict within 90 days, apply to the SEC for permission to continue as trustee (to the extent permitted under Section 310(b) of the TIA) or resign. Any agent may do the same with like rights and duties. The Trustee is also subject to
Sections 5.11 and 5.12. 
  

 35 

 Section 5.4 Money Held in Trust. 
  
 Money held by the Trustee in trust hereunder need not be segregated from other funds except to the extent required by law.
The Trustee shall be under no liability for interest on any money received by it hereunder except as otherwise expressly agreed with the Company. 
  
 Section 5.5 Trustee’s Disclaimer. 
  
 The recitals contained herein and in the Securities (except for those in the certificate of authentication) shall be taken as the statements of the
Company, and the Trustee assumes no responsibility for their correctness. The Trustee makes no representations as to the validity, sufficiency or priority of this Indenture or of the Securities. The Trustee shall not be accountable for the use or
application by the Company of Securities or the proceeds thereof. 
  
 Section 5.6 Notice of Defaults. 
  
 Within 90
days after the occurrence of any Default or Event of Default hereunder of which the Trustee has received written notice, the Trustee shall give notice to Holders pursuant to Section 15.2, unless such Default or Event of Default shall have been cured
or waived; provided, however, that, except in the case of a Default or Event of Default in the payment of the principal of or premium, if any, or interest (including Additional Amounts, if any), or in the payment of any redemption or
repurchase obligation on any Security, the Trustee shall be protected in withholding such notice if and so long as Responsible Officers of the Trustee in good faith determine that the withholding of such notice is in the interest of the Holders.

  
 Section 5.7 Reports by Trustee to Holders. 

 
 The Trustee shall transmit to Holders such reports concerning the Trustee
and its actions under this Indenture as may be required by Section 313 of the TIA at the times and in the manner provided by the TIA. 
  
 A copy of each report at the time of its mailing to Holders shall be filed with the SEC, if required, and each stock exchange, if any, on which the
Securities are listed. The Company shall promptly notify the Trustee when the Securities become listed on any stock exchange. 
  
 Section 5.8 Compensation and Indemnification. 
  
 The Company covenants and agrees to pay to the Trustee from time to time, and the Trustee shall be entitled to, reasonable compensation (which shall not
be limited by any provision of law in regard to the compensation of a trustee of an express trust) and the Company covenants and agrees to pay or reimburse the Trustee upon its request for all reasonable expenses, disbursements and advances incurred
or made by or on behalf of it in accordance with any of the provisions of this Indenture (including the reasonable compensation and the expenses and disbursements of its counsel and of all agents and other persons not regularly in its employ),
except to the extent that any such expense, disbursement or advance is due to its negligence or bad faith. When the Trustee incurs expenses or renders services in connection with an Event of Default specified in Section 4.1, the expenses (including
the reasonable charges and expenses of its counsel) and the compensation for the services are intended to constitute expenses of administration under any Bankruptcy Law. The Company also covenants to indemnify the Trustee and its officers,
directors, employees and agents for, and to hold such Persons harmless against, any loss, liability or expense incurred by them, arising out of or in connection with the 
  

 36 

 acceptance or administration of this Indenture or the trusts hereunder or the performance of their duties hereunder,
including the costs and expenses of defending themselves against or investigating any claim of liability in the premises, except to the extent that any such loss, liability or expense was due to the negligence or willful misconduct of such Persons.
The obligations of the Company under this Section 5.8 to compensate and indemnify the Trustee and its officers, directors, employees and agents and to pay or reimburse such Persons for expenses, disbursements and advances shall constitute additional
indebtedness hereunder and shall survive the satisfaction and discharge of this Indenture or the earlier resignation or removal of the Trustee. Such additional indebtedness shall be a lien prior to that of the Securities upon all property and funds
held or collected by the Trustee as such, except funds held in trust for the benefit of the Holders of particular Securities, and the Securities are hereby subordinated to such senior claim. “Trustee” for purposes of this Section 5.8 shall
include any predecessor Trustee, but the negligence or willful misconduct of any Trustee shall not affect the indemnification of any other Trustee. 
  
 Section 5.9 Replacement of Trustee. 
  
 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 5.9. 
  
 The Trustee may
resign and be discharged from the trust hereby created by so notifying the Company in writing. The Holders of at least a majority in aggregate principal amount of Outstanding Securities may remove the Trustee by so notifying the Trustee and the
Company in writing. The Company must remove the Trustee if: 
  
 (i) the Trustee fails to comply with Section 5.11 or Section 310 of the TIA; 
  
 (ii) the Trustee becomes incapable of acting; 
  
 (iii) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any
Bankruptcy Law; or 
  
 (iv) a Custodian or public
officer takes charge of the Trustee or its property. 
  
 If the
Trustee resigns or is removed or if a vacancy exists in the office of the Trustee for any reason, the Company shall promptly appoint a successor Trustee. The Trustee shall be entitled to payment of its fees and reimbursement of its expenses while
acting as Trustee. Within one year after the successor Trustee takes office, the Holders of at least a majority in aggregate principal amount of Outstanding Securities may appoint a successor Trustee to replace the successor Trustee appointed by the
Company. 
  
 Any Holder may petition any court of competent
jurisdiction for the removal of the Trustee and the appointment of a successor Trustee if the Trustee fails to comply with Section 5.11. 
  
 If an instrument of acceptance by a successor Trustee shall not have been delivered to the Trustee within 30 days after the giving of such notice of
resignation or removal, the resigning or removed Trustee, as the case may be, may petition, at the expense of the Company, any court of competent jurisdiction for the appointment of a successor Trustee. 
  
 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 
  

 37 

 Indenture. The Company shall issue a notice of the successor Trustee’s succession to the Holders. Upon payment of
its charges, the retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject nevertheless to its lien, if any, provided for in Section 5.8. Notwithstanding replacement of the Trustee pursuant to this
Section 5.9, the Company’s obligations under Section 5.8 shall continue for the benefit of the retiring Trustee with respect to expenses, losses and liabilities incurred by it prior to such replacement. 
  
 Section 5.10 Successor Trustee. 
  
 Subject to Section 5.11, if the Trustee consolidates with, merges or
converts into, or transfers all or substantially all of its corporate trust business (including the administration of this Indenture) to, another Person, corporation or national banking association, the successor entity without any further act shall
be the successor Trustee as to the Securities. 
  
 Section 5.11
Corporate Trustee Required; Eligibility. 
  
 The Trustee
shall at all times satisfy the requirements of Section 310(a)(1), (2) and (5) of the TIA. The Trustee shall at all times have (or, in the case of a corporation included in a bank holding company system, the related bank holding company shall at all
times have), a combined capital and surplus of at least $25 million as set forth in its (or its related bank holding company’s) most recent published annual report of condition. The Trustee is subject to Section 310(b) of the TIA. 

 
 Section 5.12 Collection of Claims Against the Company. 

 
 The Trustee is subject to Section 311(a) of the TIA, excluding any
creditor relationship listed in Section 311(b) of the TIA. A Trustee who has resigned or been removed shall be subject to Section 311(a) of the TIA to the extent indicated therein. 
  
 ARTICLE 6 
  
 CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE 
  
 Section 6.1 Company May Consolidate Only on Certain Terms. 
  
 The Company shall not consolidate with or merge into any other Person or convey, transfer or lease its properties and assets
substantially as an entirety to any Person, and the Company shall not permit any Person to consolidate with or merge into the Company or convey, transfer or lease its properties and assets substantially as an entirety to the Company, unless:

  
 (1) in the event that the Company shall
consolidate with or merge into another Person or convey, transfer or lease its properties and assets substantially as an entirety to any Person, the Person formed by such consolidation or into which the Company is merged or the Person which acquires
by conveyance or transfer, or which leases, the properties and assets of the Company substantially as an entirety shall be a corporation, limited liability company, partnership or trust organized and validly existing under the laws of the United
States of America, any State thereof or the District of Columbia and, if the entity surviving such transaction or transferee entity is not the Company, then such surviving or transferee entity shall expressly assume, by an indenture supplemental
hereto, executed and delivered to the Trustee, in form satisfactory to the Trustee, the due and punctual payment of the principal of and premium, if any and interest (including 
  

 38 

 Additional Amounts, if any), on all the Securities and the performance 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) at the time of consummation of such transaction, no Event of Default, and no event which, after notice or lapse of time or both, would
become an Event of Default, shall have happened and be continuing; and 
  
 (3) the Company shall have delivered to the Trustee an Officers’ 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 and that all conditions precedent herein provided for relating to such transaction have been complied with. 
  
 Section 6.2 Successor Corporation Substituted. 
  
 Upon any consolidation or merger by the Company with or into any other
corporation or any conveyance, transfer or lease of the properties and assets of the Company substantially as an entirety to any Person, in accordance with Section 6.1, the successor corporation 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 corporation had been
named as the Company herein, and thereafter, except in the case of a lease to another Person, the predecessor corporation shall be relieved of all obligations and covenants under this Indenture and the Securities. 
  
 ARTICLE 7 
  
 AMENDMENTS, SUPPLEMENTS AND WAIVERS 
  
 Section 7.1 Without Consent of Holders of Securities. 
  
 Without the consent of any Holders of Securities, the Company, when
authorized by a Board Resolution, and the Trustee, at any time and from time to time, may amend this Indenture and the Securities to: 
  
 (a) add to the covenants of the Company for the benefit of the Holders of Securities; 
  
 (b) surrender any right or power herein conferred upon the
Company; 
  
 (c) make provision with respect to
the conversion rights of Holders of Securities pursuant to Section 12.11; 
  
 (d) provide for the assumption of the Company’s obligations to the Holders of Securities in the case of a merger, consolidation, conveyance, transfer or lease pursuant to Article 6; 
  
 (e) reduce the Conversion Price; provided, however,
that such reduction in the Conversion Price shall not adversely affect the interest of the Holders of Securities (after taking into account tax and other consequences of such reduction); 
  

 39 

 (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 Securities under the Securities Act as contemplated in the Registration Rights Agreement; provided, however, that such
action pursuant to this clause (g) does not, in the good faith opinion of the Board of Directors (as evidenced by a Board Resolution) and the Trustee, adversely affect the interests of the Holders of Securities 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, however, that such action pursuant to this clause (h) does not, in the good faith opinion of the Board of Directors (as evidenced by a
Board Resolution) and the Trustee, adversely affect the interests of the Holders of Securities 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, however, that such action pursuant to this clause (i) does not, in the good faith opinion of the Board of Directors (as
evidenced by a Board Resolution) and the Trustee, adversely affect the interests of the Holders of Securities in any material respect; or 
  
 (j) make provision for the establishment of a book-entry system, in which Holders would have the option to participate, for the clearance
and settlement of transactions in Securities originally issued in definitive form. 
  
 Section 7.2 With Consent of Holders of Securities. 
  
 Except as provided below in this Section 7.2, this Indenture or the Securities may be amended or supplemented, and noncompliance in any particular instance with any provision of this Indenture or the Securities 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 Securities or (ii) by the adoption of a resolution, at a meeting of Holders of the Outstanding Securities at
which a quorum is present, by the Holders of a majority in aggregate principal amount of the Outstanding Securities represented at such meeting. 
  
 Without the written consent or the affirmative vote of each Holder of Securities affected thereby, an amendment or waiver under this Section 7.2 may not:

  
 (a) change the Stated Maturity of the
principal of, or any installment of interest (including Additional Amounts, if any) on, any Security; 
  
 (b) reduce the principal amount of, or premium, if any, on any Security; 
  
 (c) reduce the Interest Rate or interest (including Additional Amounts, if any) on any Security; 

 
 (d) change the currency of payment of principal of,
premium, if any, or interest (including Additional Amounts, if any) on any Security; 
  

 40 

 (e) impair the right of any Holder to institute suit for the enforcement of any payment
in or with respect to any Security; 
  
 (f)
modify the obligation of the Company to maintain an office or agency in The City of New York pursuant to Section 9.2; 
  
 (g) except as permitted by Section 12.11, adversely affect the Repurchase Right or the right to convert any Security as provided in
Article 12; 
  
 (h) modify the provisions in
Article 14 relating to the subordination of the Securities in a manner adverse to the Holders of Securities; 
  
 (i) modify the provisions in Article 10 relating to the redemption of the Securities in a manner adverse to the Holders of Securities;

  
 (j) modify any of the provisions of this
Section, Section 4.4 or Section 15.11, except to increase any percentage contained herein or therein or to provide that certain other provisions of this Indenture cannot be modified or waived without the consent of the Holder of each Outstanding
Security affected thereby; or 
  
 (k) reduce the
requirements of Section 8.4 for quorum or voting, or reduce the percentage in aggregate principal amount of the Outstanding Securities 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 of Securities 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 Securities 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 Security or portion of a Security that evidences
the same debt as the consenting Holder’s Security, even if notation of the consent is not made on any Security; provided, however, that unless a record date shall have been established, any such Holder or subsequent Holder may revoke the
consent as to its Security or portion of a Security 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 Securities, and thereafter shall bind every Holder of Securities; provided, however, if the amendment, supplement or waiver makes
a change described in any of the clauses (a) through (k) of Section 7.2, the amendment, supplement or waiver shall bind only each Holder of a Security which has consented to it or voted for it, as the case may be, and every subsequent Holder of a
Security or portion of a Security that evidences the same indebtedness as the Security of the consenting or affirmatively voting Holder, as the case may be. 
  

 41 

 Section 7.5 Notation on or Exchange of Securities. 
  
 If an amendment, supplement or waiver changes the terms of a Security:

  
 (a) the Trustee may require the Holder of a
Security to deliver such Securities to the Trustee, the Trustee may place an appropriate notation on the Security about the changed terms and return it to the Holder and the Trustee may place an appropriate notation on any Security thereafter
authenticated; or 
  
 (b) if the Company or the
Trustee so determines, the Company in exchange for the Security shall issue and the Trustee shall authenticate a new Security that reflects the changed terms. 
  

Failure to make the appropriate notation or issue a new Security 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
7 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 8 
  
 MEETING OF HOLDERS OF SECURITIES 
  
 Section 8.1 Purposes for Which Meetings May Be Called. 
  
 A meeting of Holders of Securities may be called at any time and from time
to time pursuant to this Article 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 of Securities. 
  
 Section 8.2 Call Notice and Place of Meetings. 
  
 (a) The Trustee may at any time call a meeting of Holders of Securities for
any purpose specified in Section 8.1, to be held at such time and at such place in The City of New York. Notice of every meeting of Holders of Securities, 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 15.2, 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 Securities shall have requested the Trustee to call a meeting of the Holders of Securities 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 
  

 42 

 made the first publication of the notice of such meeting within 21 days 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 of Securities in the amount specified, as the case may be, may determine the time and the place in The City of New York 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 of Securities, a Person shall be (a) a Holder of one or more Outstanding Securities, or (b) a Person
appointed by an instrument in writing as proxy for a Holder or Holders of one or more Outstanding Securities 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 Securities 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 of Securities, 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. Notice of the reconvening of an adjourned meeting shall state expressly the percentage of the principal amount of the Outstanding Securities which shall constitute a quorum. 
  
 Subject to the foregoing, at the reconvening of any meeting adjourned for a
lack of a quorum, the Persons entitled to vote 25% in principal amount of the Outstanding Securities at the time shall constitute a quorum for the taking of any action set forth in the notice of the original meeting. 
  
 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 Securities represented and voting at such meeting. 
  
 Any resolution passed or decisions taken at any meeting of Holders of Securities duly held in accordance with this Section shall be binding on all the Holders of Securities, 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 of Securities in regard to proof of the holding of Securities 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 
  

 43 

 Securities shall be proved in the manner specified in Section 1.3 and the appointment of any proxy shall be proved in the
manner specified in Section 1.3. 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 1.3 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 of Securities as provided in Section 8.2(b), in which case the Company or the Holders of Securities 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 Securities
represented at the meeting. 
  
 (c) At any meeting, each Holder of
a Security or proxy shall be entitled to one vote for each $1,000 principal amount of Securities held or represented by him; provided, however, that no vote shall be cast or counted at any meeting in respect of any Security 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 Security or proxy. 
  
 (d) Any meeting of Holders of Securities duly called pursuant to Section 8.2 at which a quorum is present may be adjourned
from time to time by Persons entitled to vote a majority in principal amount of the Outstanding Securities 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 of Securities shall be by written ballots on which shall be subscribed the signatures of the Holders of Securities or of their representatives by proxy and the principal amounts and serial numbers of the Outstanding Securities 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 of Securities 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 9 
  
 COVENANTS 
  
 Section 9.1 Payment of Principal, Premium and Interest. 
  
 The Company will duly and punctually pay the principal of and premium, if
any, and interest (including Additional Amounts, if any) in respect of the Securities in accordance with the terms of the Securities and this Indenture. The Company will deposit or cause to be deposited with the Trustee as directed by the Trustee,
no later than the day of the Stated Maturity of any Security or installment of interest (including Additional Amounts, if any), all payments so due. 
  

 44 

 Section 9.2 Maintenance of Offices or Agencies. 
  
 The Company hereby appoints the Corporate Trust Office of U.S. Bank National
Association and its affiliated office in The City of New York, where Securities may be: 
  
 (i) presented or surrendered for payment; 
  
 (ii) surrendered for registration of transfer or exchange; 
  
 (iii) surrendered for conversion; 
  
 and where notices and demands to or upon the Company in respect of the Securities and this Indenture may be served. 
  
 The Company may at any time and from time to time vary or terminate the
appointment of any such office or appoint any additional offices for any or all of such purposes; provided, however, that until all of the Securities have been delivered to the Trustee for cancellation, or monies sufficient to pay the
principal of and premium, if any, and interest (including Additional Amounts, if any) on the Securities have been made available for payment and either paid or returned to the Company pursuant to the provisions of Section 9.3, the Company will
maintain in The City of New York, an office or agency where Securities may be presented or surrendered for payment, where Securities may be surrendered for registration of transfer or exchange, where Securities may be surrendered for conversion and
where notices and demands to or upon the Company in respect of the Securities and this Indenture may be served. The Company will give prompt written notice to the Trustee, and notice to the Holders in accordance with Section 15.2, of the appointment
or termination of any such agents and of the location and any change in the location of any such office or agency. 
  
 If at any time the Company shall fail to maintain any such required office or agency in The City of New York, or shall fail to furnish the Trustee with
the address thereof, presentations and surrenders may be made at, and notices and demands may be served on, the Corporate Trust Office of the Trustee. 
  
 Section 9.3 Corporate Existence. 
  
 Subject to Article 6, the Company will do or cause to be done all things necessary to preserve and keep in full force and effect its corporate existence,
rights (charter and statutory) and franchises; provided, however, that the Company shall not be required to preserve any such right or franchise if the Company determines that the preservation thereof is no longer desirable in the conduct of
the business of the Company and that the loss thereof is not disadvantageous in any material respect to the Holders. 
  
 Section 9.4 Maintenance of Properties. 
  
 The Company will maintain and keep its properties and every part thereof in such repair, working order and condition, and make or cause to be made all
such needful and proper repairs, renewals and replacements thereto, as in the judgment of the Company are necessary in the interests of the Company; provided, however, that nothing contained in this Section shall prevent the Company from
selling, abandoning or otherwise disposing of any of its properties or discontinuing a part of its business 
  

 45 

 from time to time if, in the judgment of the Company, such sale, abandonment, disposition or discontinuance is advisable
and does not materially adversely affect the interests or business of the Company. 
  
 Section 9.5 Payment of Taxes and Other Claims. 
  
 The Company will, and will cause any Significant Subsidiary to, promptly pay and discharge or cause to be paid and discharged all material taxes, assessments and governmental charges or levies lawfully imposed upon it
or upon its income or profits or upon any of its property, real or personal, or upon any part thereof, as well as all material claims for labor, materials and supplies which, if unpaid, might by law become a lien or charge upon its property;
provided, however, that neither the Company nor any Significant Subsidiary shall be required to pay or discharge or cause to be paid or discharged any such tax, assessment, charge, levy, or claim if the amount, applicability or validity
thereof shall currently be contested in good faith by appropriate proceedings and if the Company or such Significant Subsidiary, as the case may be, shall have set aside on its books reserves deemed by it adequate with respect thereto. 

 
 Section 9.6 Reports. 
  
 (a) The Company shall deliver to the Trustee within 15 days after it files
them with the SEC copies of the annual reports and of the information, documents, and other reports (or copies of such portions of any of the foregoing as the SEC may by rules and regulations prescribe) which the Company is required to file with the
SEC pursuant to Section 13 or 15(d) of the Exchange Act; provided, however, the Company shall not be required to deliver to the Trustee any materials for which the Company has sought and received confidential treatment by the SEC. The Company
also shall comply with the other provisions of Section 314(a) of the TIA. 
  
 (b) If at any time the Company is not subject to Section 13 or 15(d) of the Exchange Act, upon the request of a Holder of a Security, the Company will promptly furnish or cause to be furnished to such Holder or to a
prospective purchaser of such Security designated by such Holder, as the case may be, the information, if any, required to be delivered by it pursuant to Rule 144A(d)(4) under the Securities Act to permit compliance with Rule 144A in connection with
the resale of such Security; provided, however, that the Company shall not be required to furnish such information in connection with any request made on or after the date which is two years from the later of the date such security was last
acquired from the Company or an “affiliate” (as defined under Rule 144 under the Securities Act) of the Company. 
  
 Section 9.7 Compliance Certificate. 
  
 The Company shall deliver to the Trustee, within 120 days after the end of each fiscal year of the Company (which as of the date hereof is September 30),
an Officers’ Certificate stating that in the course of the performance by the signers of their duties as Officers of the Company, they would normally have knowledge of any failure by the Company to comply with all conditions, or any Default by
the Company with respect to any covenants, under this Indenture, and further stating whether or not they have knowledge of any such failure or Default and, if so, specifying each such failure or Default and the nature thereof. In the event an
Officer of the Company comes to have actual knowledge of a Default, regardless of the date, the Company shall deliver an Officers’ Certificate to the Trustee specifying such Default and the nature and status thereof. 
  

 46 

 Section 9.8 Resale of Certain Securities. 
  
 During the period of two years after the last date of original issuance of
any Securities, the Company shall not, and shall not permit any of its “affiliates” (as defined under Rule 144 under the Securities Act) to, resell any Securities, or shares of Common Stock issuable upon conversion of the Securities, which
constitute “restricted securities” under Rule 144, that are acquired by any of them within the United States or to “U.S. persons” (as defined in Regulation S) except pursuant to an effective registration statement under the
Securities Act or an applicable exemption therefrom. The Trustee shall have no responsibility or liability in respect of the Company’s performance of its agreement in the preceding sentence. 
  
 Section 9.9 Additional Amounts. 
  
 If Additional Amounts are payable by the Company pursuant to the
Registration Rights Agreement, the Company shall deliver to the Trustee a certificate to that effect stating (i) the amount of such Additional Amounts that are payable and (ii) the date on which such Additional Amounts are payable. Unless and until
a Responsible Officer of the Trustee receives such a certificate, the Trustee may assume without inquiry that no Additional Amounts are payable. If the Company has paid Additional Amounts directly to the persons entitled to them, the Company shall
deliver to the Trustee a certificate setting forth the particulars of such payment. 
  
 ARTICLE 10 
  
 REDEMPTION OF SECURITIES 
  
 Section 10.1
Optional Redemption. 
  
 On or after October 1, 2009, the
Company may, at its option, redeem the Securities in whole at any time or in part from time to time, on any date prior to Maturity, upon notice as set forth in Section 10.4, at the Redemption Price plus any interest (including Additional Amounts, if
any) accrued and unpaid to, but excluding, the Redemption Date; provided, however, that the Company may redeem the Securities in whole at any time or in part from time to time, on any date after October 1, 2007 and prior to October 1, 2009,
upon notice as set forth in Section 10.4, at the Redemption Price plus any interest (including Additional Amounts, if any) accrued and unpaid to, but excluding, the Redemption Date, if the closing sale price of the Common Stock has been at least
170% of the Conversion Price then in effect for at least 20 Trading Days during any 30 consecutive Trading Day period. 
  
 In the event that the closing sale price of the Common Stock has been at least 170% of the Conversion Price then in effect for at least 20 Trading Days
during any 30 consecutive Trading Day period ending prior to October 1, 2009, the Company shall promptly provide the Trustee with a written notice of the occurrence of such event, and the Trustee shall promptly thereafter mail such written notice to
the Holders pursuant to Section 15.2. 
  
 Section 10.2 Notice
to Trustee. 
  
 If the Company elects to redeem Securities
pursuant to the provisions of Section 10.1, it shall notify the Trustee at least 30 days (unless a shorter period is reasonably acceptable to the Trustee) prior to the intended Redemption Date of (i) such intended Redemption Date, (ii) the principal
amount of Securities to be redeemed and (iii) the CUSIP numbers of the Securities to be redeemed. 
  

 47 

 Section 10.3 Selection of Securities to Be Redeemed. 
  
 If fewer than all the Securities are to be redeemed, the Trustee shall
select the particular Securities to be redeemed in principal amounts of $1,000 or whole multiples of $1,000 from the Outstanding Securities by a method that complies with the requirements of any exchange on which the Securities are listed, or, if
the Securities 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. Securities and portions thereof that the Trustee selects shall be in amounts equal
to the minimum authorized denominations for Securities to be redeemed or any integral multiple thereof. 
  
 If any Security selected for partial redemption is converted in part before termination of the conversion right with respect to the portion of the
Security so selected, the converted portion of such Security shall be deemed to be the portion selected for redemption; provided, however, that the Holder of such Security so converted and deemed redeemed shall not be entitled to any
additional interest payment as a result of such deemed redemption than such Holder would have otherwise been entitled to receive upon conversion of such Security. Securities which have been converted during a selection of Securities to be redeemed
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 Securities selected for redemption and, in the case of any Securities selected for partial 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 Securities shall relate, in the case of any Securities redeemed or to be redeemed only in part, to the portion of the principal amount of such Securities which has been or is
to be redeemed. 
  
 Section 10.4 Notice of Redemption.

  
 Notice of redemption shall be given in the manner
provided in Section 15.2 to the Holders of Securities to be redeemed. Such notice shall be given not less than 20 nor more than 60 days prior to the intended Redemption Date. 
  
 All notices of redemption shall state: 
  
 (1) such intended Redemption Date; 
  
 (2) the Redemption Price and interest (including Additional Amounts, if any) accrued and unpaid to, but
excluding, the Redemption Date, if any; 
  
 (3)
if fewer than all the Outstanding Securities are to be redeemed, the aggregate principal amount of Securities to be redeemed and the aggregate principal amount of Securities which will be Outstanding after such partial redemption; 
  
 (4) that on the Redemption Date the Redemption Price and
interest accrued and unpaid to, but excluding, the Redemption Date, if any, will become due and payable upon each such Security to be redeemed, and that interest (including Additional Amounts, if any) thereon shall cease to accrue on and after such
date; 
  
 (5) the Conversion Price, the date on
which the right to convert the principal of the Securities to be redeemed will terminate, whether the Company has elected to settle 
  

 48 

 its obligation upon conversion in cash or a combination of cash and shares of Common Stock in lieu of
shares of Common Stock only (and, in the event that the Company has elected to settle all or a portion of its conversion obligation in cash, the date on which the Cash Settlement Averaging Period will begin) and the places where such Securities may
be surrendered for conversion; 
  
 (6) the place
or places where such Securities are to be surrendered for payment of the Redemption Price, accrued and unpaid interest, if any; and 
  
 (7) the CUSIP number of the Securities. 
  
 The notice given shall specify the last date on which exchanges or transfers of Securities may be made pursuant to Section 2.7, and shall specify the
serial numbers of Securities, if Physical Securities are selected for redemption, and the portions thereof called for redemption. 
  
 Notice of redemption of Securities 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 Notice of Redemption. 
  
 Notice of redemption having been given as provided in Section 10.4, the Securities so to be redeemed shall, on the Redemption Date, become due and payable at the Redemption Price therein specified and from and after such date (unless the
Company shall default in the payment of the Redemption Price and accrued and unpaid interest) such Securities shall cease to bear interest. Upon surrender of any such Security for redemption in accordance with such notice, such Security shall be
paid by the Company at the Redemption Price; provided, however, the installments of interest on Securities whose Stated Maturity is prior to or on the Redemption Date shall be payable to the Holders of such Securities, or one or more
Predecessor Securities, registered as such on the relevant Record Date according to their terms and the provisions of Section 2.7. 
  
 If any Security called for redemption shall not be so paid upon surrender thereof for redemption, the principal and premium, if any, shall, until paid,
bear interest from the Redemption Date at the Interest Rate. 
  
 Section 10.6 Deposit of Redemption Price. 
  
 Prior to 11:00 a.m. (New York City time) on any Redemption Date, the Company shall deposit with the Trustee or with a Paying Agent an amount of money sufficient to pay the Redemption Price, and accrued and unpaid interest (including
Additional Amounts, if any), in respect of all the Securities to be redeemed on that Redemption Date, other than any Securities called for redemption on that date which have been converted prior to the date of such deposit, and accrued and unpaid
interest, if any, on such Securities. 
  
 If any Security called
for redemption is converted, any money deposited with the Trustee or with a Paying Agent or so segregated and held in trust for the redemption of such Security shall (subject to any right of the Holder of such Security or any Predecessor Security to
receive interest as provided in the fourth to last paragraph of Section 2.1) be paid to the Company on Company Request or, if then held by the Company, shall be discharged from such trust. 
  

 49 

 Section 10.7 Securities Redeemed in Part. 
  
 Any Security 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 Security without service charge, a new Security or
Securities 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 Security so surrendered. 
  
 ARTICLE 11 
  
 REPURCHASE AT THE OPTION OF A HOLDER UPON SPECIFIC REPURCHASE DATES OR
UPON A FUNDAMENTAL CHANGE 
  
 Section 11.1 Repurchase
Right. 
  
 (a) On October 1, 2009, 2014 and 2019, (each, a
“Specific Repurchase Date”) each Holder shall have the right (the “Repurchase Right”), at the Holder’s option, to require the Company to purchase for cash, and upon the exercise of such right the Company shall
purchase, all of such Holder’s Securities not previously called for redemption, or any portion of the principal amount thereof that is equal to $1,000 or an integral multiple thereof as directed by such Holder pursuant to Section 11.3
(provided that no single Security may be repurchased in part unless the portion of the principal amount of such Security to be Outstanding after such repurchase is equal to $1,000 or an integral multiple thereof), at a purchase price equal to
100% of the principal amount of the Securities to be purchased (the “Repurchase Price”), plus accrued and unpaid interest and Additional Amounts, if any, on such Securities to, but excluding the Specific Repurchase Date. Holders may
submit their Securities for repurchase to the Paying Agent at any time from the opening of business on the date that is 20 Business Days prior to the applicable Specific Repurchase Date until the close of business on the Business Day prior to the
applicable Specific Repurchase Date.  
  
 (b) In the event
that a Fundamental Change (together with the Specific Repurchase Dates, “Repurchase Events”) shall occur, each Holder shall have the right, at the Holder’s option, but subject to the provisions of Section 11.2 hereof, to
require the Company to repurchase, and upon the exercise of such right the Company shall repurchase, all of such Holder’s Securities not previously called for redemption, or any portion of the principal amount thereof that is equal to $1,000 or
an integral multiple thereof as directed by such Holder pursuant to Section 11.3 (provided that no single Security may be repurchased in part unless the portion of the principal amount of such Security to be Outstanding after such repurchase
is equal to $1,000 or an integral multiple thereof), on a date (the “Fundamental Change Repurchase Date” and, together with the Specific Repurchase Date, the “Repurchase Date”) that is not less than 20 nor more than
35 Business Days after the date of the Repurchase Event Notice for an amount equal to the sum of (i) the Repurchase Price plus accrued and unpaid interest and Additional Amounts, if any, to, but excluding, the Fundamental Change Purchase Date and
(ii) the Make-Whole Premium, if any; provided, however, that installments of interest on Securities whose Stated Maturity is prior to or on the Fundamental Change Purchase Date shall be payable to the Holders of such Securities, or one or
more Predecessor Securities, registered as such on the relevant Regular Record Date according to their terms and the provisions of Section 2.1 hereof. 
  

 50 

 (c) If the Holders have a repurchase right pursuant to this Section 11.1, the Company shall issue a press
release through Dow Jones & Company, Inc, Business Wire or Bloomberg Business News (or, if such organizations are not in existence at the time of issuance of such press release, such other news or press organization as is reasonably calculated
to broadly disseminate the relevant information to the public) containing the relevant information and make such information available on the Company’s web site or through another public medium as the Company may use at such time. 

 
 Section 11.2 Company’s Option to Pay All or a Portion of the
Repurchase Price in the Event of a Fundamental Change in Common Stock; Conditions to the Company’s Election to Pay the Repurchase Price in the Event of a Fundamental Change in Common Stock. 
  
 (a) The Repurchase Price payable in the event of a Fundamental Change shall
be payable at the Company’s option in the same forms of consideration that the Company may use in satisfaction of its obligation upon conversion of the Securities pursuant to Article 12, including cash, shares of Common Stock or a combination
of cash and shares of Common Stock. However, if the Company has irrevocably elected to make a cash payment of principal upon conversion pursuant to Section 12.12(f) hereof, the Company shall repay the principal amount of the Securities repurchased
in the event of a Fundamental Change in cash, with any remaining amount to be satisfied in shares of Common Stock. 
  
 (b) The Company may, at its option, pay the Repurchase Price payable to Holders payable in the event of the occurrence of a Fundamental Change pursuant to
Section 11.1(b) upon redemption of the Securities, in whole or in part in shares of Common Stock, if the following conditions are satisfied: 
  
 (i) The shares of Common Stock to be so issued: 
  

(A) shall not require registration under any federal securities law before such shares may be freely transferable without being subject
to any transfer restrictions under the Securities Act upon repurchase or redemption, as the case may be, or if such registration is required, such registration shall be completed and shall become effective prior to the Repurchase Date; and

  
 (B) shall not require registration with, or
approval of, any governmental authority under any state law or any other federal law before shares may be validly issued or delivered upon repurchase or redemption or if such registration is required or such approval must be obtained, such
registration shall be completed or such approval shall be obtained prior to the Repurchase Date. 
  
 (ii) The shares of Common Stock to be listed upon repurchase of Securities hereunder are, or shall have been, approved for listing on the
Nasdaq National Market or the New York Stock Exchange or listed on another national securities exchange, in any case, prior to the Repurchase Date. 
  
 (iii) All shares of Common Stock which may be issued upon repurchase of Securities will be issued out of the Company’s authorized but
unissued Common Stock or treasury stock and will, upon issue, be duly and validly issued and fully paid and nonassessable and free of any preemptive or similar rights. 
  

 51 

 If any of the conditions set forth in clauses (i) through (iii) of this Section 11.2(b) are not satisfied
in accordance with the terms thereof, the Repurchase Price payable in the event of a Fundamental Change shall be paid by the Company only in cash. 
  
 Section 11.3 Repurchase Event Notice. 
  
 No later than 10 Business Days after the occurrence of a Fundamental Change and at least 20 Business Days prior to the occurrence of any Specific
Repurchase Date, the Company shall mail a written notice of the Repurchase Event (the “Repurchase Event Notice”) by first-class mail to the Trustee and to each Holder (and to beneficial owners to the extent practicable) pursuant to
Section 15.2. The Repurchase Event Notice shall include a form of notice (the “Repurchase Event Purchase Notice”) to be completed by the Holder and delivered to the Paying Agent pursuant to Section 11.4, and shall state the
following: 
  
 (1) that it is a Repurchase Event
Notice pursuant to this Section; 
  
 (2) in the
event of a repurchase upon the occurrence of a Fundamental Change, the event causing the Repurchase Event and the date of such Repurchase Event; 
  
 (3) the procedures with which such Holder must comply to exercise its right to have its Securities purchased pursuant to Section 11.1,
including the date by which the completed Repurchase Event Purchase Notice pursuant to Section 11.4 and the Securities the Holder elects to have purchased pursuant to Section 11.1 must be delivered to the Paying Agent in order to have such
Securities purchased by the Company pursuant to Section 11.1, the name and address of the Paying Agent and that the Securities as to which a Repurchase Event Purchase Notice has been given may be converted, if they are otherwise convertible pursuant
to Article 12, only if the completed and delivered Repurchase Event Purchase Notice has been withdrawn in accordance with the terms of the Indenture, the Holder’s conversion rights pursuant to Article 12 and the Conversion Price then in effect
and any adjustments thereto; 
  
 (4) the
Repurchase Date and the Repurchase Price; 
  
 (5)
in the event of a repurchase upon the occurrence of a Fundamental Change, whether the Repurchase Price shall be paid by the Company in cash, by delivery of shares of Common Stock or both; 
  
 (6) that, unless the Company defaults in making payment of
such Repurchase Price, interest and Additional Amounts, if any, on the Securities surrendered for purchase by the Company will cease to accrue on and after the Repurchase Date, if applicable; and 
  
 (7) the CUSIP number of the Securities. 
  
 No failure by the Company to give the foregoing Repurchase Event Notice
shall limit any Holder’s right to exercise its rights pursuant to Section 11.1 or affect the validity of the proceedings for the purchase of its Securities hereunder. 
  

 52 

 Section 11.4 Delivery of Repurchase Event Purchase Notice; Form of Repurchase Event Purchase Notice;
Withdrawal of Repurchase Event Purchase Notice. 
  
 (a) The
Company shall deliver, or cause the Trustee or Paying Agent, to deliver, to all Holders (and beneficial holders of the Securities to the extent practicable) a form of Repurchase Event Purchase Notice, which with respect to Holders’ Repurchase
Rights set forth in Section 11.1, shall be delivered to such Holders at least 20 Business Days prior to the Repurchase Event Purchase Date and, as set forth in Section 11.3, shall be included in the Repurchase Event Notice; provided, that the
delivery of such form of Repurchase Event Purchase Notice to the Holders shall be made in the Company’s name and at the Company’s expense and the text of such form of Repurchase Event Purchase Notice shall be prepared by the Company
pursuant to clause (b) of this Section. 
  
 (b) The form of
Repurchase Event Purchase Notice shall provide instructions regarding procedures with which Holders must comply to exercise their rights pursuant to Section 11.1 and the completion of the Repurchase Event Purchase Notice and also shall state:

  
 (1) that it is the Repurchase Event Purchase
Notice pursuant to Sections 11.3 and 11.4 of the Indenture and must be completed by the Holder and delivered to the Paying Agent (and any beneficial holder of securities), together with the delivery of the Holder’s Securities for which the
Holder will exercise its Repurchase Rights pursuant to Section 11.1, for such Holder to receive the Repurchase Price; 
  
 (2) the name and address of the Paying Agent to, and the date by, which the completed Repurchase Event Purchase Notice and Securities must
be delivered in order for the Holder to receive the applicable purchase price; 
  
 (3) the portion of the principal amount of the Security which the Holder will deliver to be repurchased, which portion must be in a
principal amount of $1,000 or an integral multiple thereof; 
  
 (4) any other procedures then applicable that the Holder must follow to exercise rights under Article 11 and a brief description of those rights; 
  
 (5) the Repurchase Date and the Repurchase Price; 
  
 (6) in the event of a repurchase upon the occurrence of a
Fundamental Change, whether the Repurchase Price shall be paid by the Company in cash, by delivery of shares of Common Stock or both; 
  
 (7) the procedures with which such Holder must comply to exercise its right to have its Securities repurchased pursuant to Section 11.1,
including the date by which the completed Repurchase Event Purchase Notice pursuant to Section 11.4 and the Securities the Holder elects to have repurchased pursuant to Section 11.1 must be delivered to Paying Agent in order to have such Securities
repurchased by the Company pursuant to Section 11.1, the name and address of the Paying Agent and that the Securities as to which a Repurchase Event Purchase Notice has been given may be converted, if they are otherwise convertible pursuant to
Article 12, only if the completed and delivered Repurchase Event Purchase Notice has been withdrawn in accordance with the terms of the Indenture, the Holder’s conversion rights pursuant to Article 12, the Conversion Price then in effect and
any adjustments thereto; 
  

 53 

 (8) the Holder’s right to withdraw a completed and delivered Repurchase Event
Purchase Notice, the procedures for withdrawing a Repurchase Event Purchase Notice, pursuant to clause (c) below and that Securities as to which a completed and delivered Repurchase Event Purchase Notice may be converted, if they are convertible
only in accordance with Article 12, if the applicable completed and delivered Repurchase Event Purchase Notice has been withdrawn; 
  
 (9) that, unless the Company defaults in making payment on Securities for which a Repurchase Event Purchase Notice has been submitted,
interest and Additional Amounts, if any, on such Securities will cease to accrue on the Repurchase Event Purchase Date; and 
  
 (10) the CUSIP number of the Securities. 
  
 (c) Notwithstanding anything herein to the contrary, any Holder which has delivered a completed Repurchase Event Purchase Notice to the Paying Agent shall
have the right to withdraw such Repurchase Event Purchase Notice by delivery of a written notice of withdrawal delivered to the office of the Paying Agent in accordance with the Repurchase Event Purchase Notice at any time prior to the close of
business on the Business Day prior to the Repurchase Date specifying: 
  
 (1) the certificate number, if any, of the Security in respect of which such notice of withdrawal is being submitted; 
  
 (2) the principal amount of the Security with respect to which such notice of withdrawal is being submitted; and 
  
 (3) the principal amount, if any, of such Security which
remains subject to the original Repurchase Event Purchase Notice and which has been or will be delivered for purchase by the Company. 
  
 The Paying Agent shall promptly notify the Company of the receipt by it of any Repurchase Event Purchase Notice or written notice of withdrawal thereof. 
  
 Section 11.5 Exercise of Repurchase Rights. 
  
 To exercise a Repurchase Right pursuant to Section 11.1, a Holder must
deliver to the Trustee at its offices on or prior to the Repurchase Date the following: 
  
 (a) a completed Repurchase Event Purchase Notice, the form of which is provided in Exhibit B hereto; and 
  
 (b) the Securities or cause such Securities to be delivered through the facilities of the Depositary, as applicable, with respect to which the Repurchase
Right is being exercised, with, if the Company or the Trustee so requires, due endorsement by, or a written instrument of transfer, in form satisfactory to the Company and the Trustee duly executed by, the Holder thereof or such Holder’s
attorney duly authorized in writing. 
  

 54 

 Section 11.6 Deposit and Payment of the Repurchase Price. 
  
 (a) In the event a Repurchase Right shall be exercised in accordance with
the terms hereof, the Company shall pay or cause to be paid to the Trustee the Repurchase Price in cash or, in the event of a repurchase upon the occurrence of a Fundamental Change, cash, shares of Common Stock or both, as provided above, for
payment to the Holder on the Repurchase Date or, with respect to any shares of Common Stock that are to be paid in the event of a repurchase upon the occurrence of a Fundamental Change, as promptly after the Repurchase Date as practicable, together
with accrued and unpaid interest to, but excluding, the Repurchase Date payable in cash with respect to the Securities as to which the Repurchase Right has been exercised; provided, however, that installments of interest that mature prior to
or on the Repurchase Date shall be payable in cash to the Holders of such Securities, or one or more Predecessor Securities, registered as such at the close of business on the relevant Regular Record Date. 
  
 (b) If any Security (or portion thereof) surrendered for repurchase shall not
be so paid on the Repurchase Date, the principal amount of such Security (or portion thereof, as the case may be) shall, until paid, bear interest to the extent permitted by applicable law from the Repurchase Date at the Interest Rate, and each
Security shall remain convertible into Common Stock until the principal of such Security (or portion thereof, as the case may be) shall have been paid or duly provided for. 
  
 (c) Any Security 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 Security without service charge, a new Security or Securities, 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 Security so surrendered. 
  
 (d) Any issuance of shares of Common Stock in respect of the Repurchase Price payable in the event of a repurchase upon the occurrence of a Fundamental
Change shall be deemed to have been effected immediately prior to the close of business on the Repurchase Date and the Person or Persons in whose name or names any stock certificate or stock certificates representing shares of Common Stock shall be
issuable upon such repurchase shall be deemed to have become on the Repurchase Date the holder or holders of record of the shares represented thereby; provided, however, that any surrender for repurchase on a date when the stock transfer
books of the Company shall be closed shall constitute the Person or Persons in whose name or names the stock certificate or stock certificates representing such shares are to be issued as the holder or holders of record of the shares represented
thereby for all purposes at the opening of business on the next succeeding day on which such stock transfer books are open. No payment or adjustment shall be made for dividends or distributions on any Common Stock issued upon repurchase of any
Security declared prior to the Repurchase Date. 
  
 (e) No
fractions of shares of Common Stock shall be issued upon repurchase of any Security or Securities in the event of a repurchase upon the occurrence of a Fundamental Change. If more than one Security shall be repurchased from the same Holder and any
portion of the Repurchase Price payable in the event of a repurchase upon the occurrence of a Fundamental Change shall be payable in shares of Common Stock, the number of full shares which shall be issued upon such repurchase shall be computed on
the basis of the aggregate principal amount of the Securities (or specified portions thereof) to be so repurchased. Instead of any fractional share of Common Stock which would otherwise be issued on the repurchase of any Security or Securities (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 Trading Price of the Common Stock as of the Trading Day preceding the Repurchase Date. 
  

 55 

 (f) Any issuance and delivery of stock certificates representing shares of Common Stock on repurchase of
Securities shall be made without charge to the Holder of Securities being repurchased for such stock certificates or for any tax or duty in respect of the issuance or delivery of such stock certificates or the Securities represented thereby;
provided, however, that the Company shall not be required to pay any tax or duty which may be payable in respect of (i) income of the Holder or (ii) any transfer involved in the issuance or delivery of stock certificates representing shares
of Common Stock in a name other than that of the Holder of the Securities being repurchased, and no such issuance or delivery shall be made unless the Person requesting such issuance or delivery 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. 
  
 (g) All Securities 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 2.15. 
  
 Section 11.7 Covenant to
Comply with Securities Laws upon Repurchase of Securities. 
  
 When complying with the provisions of this Article 11 (provided that such offer or purchase constitutes an “issuer tender offer” for purposes of Rule 13e-4 (which term, as used herein, includes any successor provision
thereto) under the Exchange Act at the time of such offer or purchase), the Company shall (a) comply with Rule 13e-4, Rule 14e-1 and any other tender offer rules under the Exchange Act which may then be applicable, (b) file the related Schedule TO
(or any successor schedule, form or report) under the Exchange Act and (c) otherwise comply with all federal and state securities laws so as to permit the rights and obligations under this Article 11 to be exercised in the time and in the manner
specified in this Article 11. 
  
 ARTICLE 12 
  
 CONVERSION OF SECURITIES 
  
 Section 12.1 Conversion Right and Conversion Price. 
  
 Subject to and upon compliance with the provisions of this Article, at the
option of the Holder thereof, any Security or any portion of the principal amount thereof which is an integral multiple of $1,000 may be converted at the principal amount thereof, or of such portion thereof, into duly authorized, fully paid and
nonassessable shares of 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 October 1,
2024. 
  
 In case a Security or portion thereof is called for
redemption, such conversion right in respect of the Security or the portion so called, shall expire at the close of business on the second Business Day preceding the Redemption Date, unless the Company defaults in making the payment due upon
redemption. In the case of a Fundamental Change for which the Holder exercises its Repurchase Right with respect to a Security or portion thereof, such conversion right in respect of the Security or portion thereof shall expire at the close of
business on the Business Day immediately preceding the Repurchase Date. 
  

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 The price at which shares of Common Stock shall be delivered upon conversion (the “Conversion
Price”) shall be initially equal to $3.92 per share of Common Stock. The Conversion Price shall be adjusted in certain instances as provided in paragraphs (a), (b), (c), (d), (e), (f), (h) and (1) of Section 12.4. 
  
 Section 12.2 Exercise of Conversion Right. 
  
 To exercise the conversion right, the Holder of any Security to be converted
shall surrender such Security 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 to the Security, to the Company, with a copy
to the Trustee, stating that the Holder elects to convert such Security or, if less than the entire principal amount thereof is to be converted, the portion thereof to be converted. 
  
 Securities 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 Security 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 to be received on such Interest Payment Date on the principal amount of Securities being surrendered for conversion. 
  

Securities shall be deemed to have been converted immediately prior to the close of business on the day of surrender of such Securities for conversion
in accordance with the provisions of this Article 12, including any required payments, and at such time the rights of the Holders of such Securities 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
stock certificate or stock certificates representing the number of full shares of Common Stock issuable upon conversion of such Securities, together with payment in lieu of any fraction of a share as provided in Section 12.3. 
  
 In the case of any Security 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 Security or Securities of authorized denominations in aggregate principal amount equal to the unconverted
portion of the principal amount of such Securities. 
  
 If shares
of Common Stock to be issued upon conversion of a Restricted Security, or Securities 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 certificate in substantially the form set forth in the form of Security set forth in Exhibit A annexed hereto, 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 shares of Common
Stock or Securities issued upon conversion of any such Restricted Security not so accompanied by a properly completed certificate. 
  
 The Company hereby initially appoints the Trustee as the Conversion Agent. 
  

 57 

 Section 12.3 Fractions of Shares. 
  
 No fractional shares of Common Stock shall be issued upon conversion of any Security or Securities. If more than one
Security 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 Securities (or specified
portions thereof) so surrendered. Instead of any fractional share of Common Stock which would otherwise be issued upon conversion of any Security or Securities (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
Trading 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 adjustment, 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 shares of
Common Stock, the Conversion Price in effect at the opening of business on the date following the date fixed for the determination of stockholders 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 shares 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 shares of Common Stock shall be subdivided into a greater number of shares 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 shares of Common Stock shall be combined into a smaller
number of shares 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. 
  
 (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 shares of Common Stock exercisable for not more than 60 days entitling them to subscribe for or purchase shares of Common Stock at a price per share less than the Current Market Price on the Record Date fixed for the determination
of stockholders entitled to receive such rights or warrants, the Conversion 
  

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 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 shares 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 shares of Common Stock outstanding on the close of business on the Record Date, plus the total number of additional shares of 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 stockholders entitled to receive such rights or warrants. To the extent that shares of 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 shares of Common Stock (or securities convertible into Common Stock) actually delivered. In the event that 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 stockholders 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 shares of Common Stock at less than such Current Market Price, and in determining the aggregate offering price of such shares of 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. 
  

Notwithstanding the foregoing, in the event that the Company shall make a distribution subject to this Section 12.4(c) the Company may,
in lieu of making any adjustment required pursuant to this Section 12.4(c), make proper provision so that each holder of a Security who converts such Security (or any portion thereof) after the Record Date for such distribution shall be entitled to
receive upon such conversion, in addition to the shares of Common Stock issuable upon such conversion, the securities such Holder would have received had such Holder converted such Security (or portion thereof) immediately prior to such Record Date.

  
 (d) In case the Company shall, by dividend or
otherwise, distribute to all holders of its Common Stock shares of any class of capital stock of the Company (other than any dividends or distributions to which Section 12.4(a) applies) or evidences of its indebtedness, cash 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 in connection with a reclassification, change, merger, consolidation,
statutory share exchange, combination, sale or conveyance to which Section 12.11 applies and (3) dividends and distributions paid exclusively in cash (the securities described in foregoing clauses (1), (2) and (3) 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 
  

 59 

 equal to the price determined by multiplying the Conversion Price in effect immediately prior to the
close of business on the Record Date with respect to such distribution by a fraction: 
  
 (i) the numerator of which shall be the Current Market Price 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 the
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, in the event that (x) 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 or (y) the Current Market Price on the Record Date exceeds the fair market value of such distribution by
less than $1.00, then, 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 Security (or any portion thereof) the amount of securities such Holder would have
received had such Holder converted such Security (or portion thereof) immediately prior to such Record Date. In the event that 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
Holders. 
  
 Notwithstanding the foregoing, in
the event that the Company shall make a distribution subject to this Section 12.4(d) the Company may, in lieu of making any adjustment required pursuant to this Section 12.4(d), make proper provision so that each holder of a Security who converts
such Security (or any portion thereof) after the Record Date for such distribution shall be entitled to receive upon such conversion, in addition to the shares of Common Stock issuable upon such conversion, the securities such Holder would have
received had such Holder converted such Security (or portion thereof) immediately prior to such Record Date. 
  
 Rights or warrants distributed by the Company to all holders of Common Stock entitling the holders thereof to subscribe for or purchase
shares of the Company’s capital stock (either initially or under certain circumstances), which rights or warrants, until the occurrence of a specified event or events (“Trigger Event”): 
  
 (i) are deemed to be transferred with such shares of Common
Stock; 
  
 (ii) are not exercisable; and

  
 (iii) are also issued in respect of future
issuances of Common Stock; 
  

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 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): 
  
 (1) 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 warrants (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 
  
 (2) 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 shares of 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 shares of 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 shares of 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 shares of 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
stockholders entitled to receive such dividend or other distribution,” “Record Date fixed for 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 
  

 61 

 Section 12.4(b), and (z) as “the date fixed for the determination of stockholders entitled to
receive such rights or warrants,” “the Record Date fixed for the determination of the stockholders entitled to receive such rights or warrants” and such “Record Date” within the meaning of Section 12.4(c); and 
  
 (B) any shares of 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 shares of Common Stock resulting from
such subdivision or combination shall be disregarded in connection with such dividend or distribution. 
  
 (e) In case the Company shall, by dividend or otherwise, distribute to all or substantially all holders of its Common Stock cash
(excluding any cash that is distributed upon a reclassification, change, merger, consolidation, statutory share exchange, combination, sale or conveyance 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 such date, 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) the amount of such distribution and (y) the number of shares 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. 
  
 In the
event that 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 offer made by the Company or any of its
subsidiaries for all or any portion of the Common Stock shall expire and such tender offer (as amended upon the expiration thereof) shall require the payment to stockholders (based on the acceptance (up to any maximum specified in the terms of the
tender 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) that combined
together with: 
  
 (1) 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 offer, of consideration payable in respect of any other tender
offers, by the Company or any of its subsidiaries for all or any portion of the Common Stock expiring within the 12 months preceding the expiration of such tender offer and in respect of which no adjustment pursuant to this Section 12.4(f) has been
made; 
  
 (2) the aggregate amount of any
distributions to all holders of the Company’s Common Stock made exclusively in cash within 12 months preceding the expiration of such tender offer and in respect of which no adjustment pursuant to Section 12.4(e) has been made; and 

 

 62 

 exceeds 10% of the product of the Current Market Price as of the last time (the “Expiration
Time”) tenders could have been made pursuant to such tender offer (as it may be amended) times the number of shares of Common Stock outstanding (including any tendered 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 shares of Common Stock outstanding (including any tendered shares) at the Expiration Time multiplied by the Current Market Price of the Common Stock on the Trading Day
next succeeding the Expiration Time; and 
  
 (ii)
the denominator shall be the sum of (x) the fair market value (determined as aforesaid) of the aggregate consideration payable to stockholders based on the acceptance (up to any maximum specified in the terms of the tender offer) of all shares
validly tendered 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 shares of Common Stock
outstanding (less any Purchased Shares) on the Expiration Time and the Current Market Price of the Common Stock 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. In the event that the Company is obligated to purchase shares pursuant to any such tender 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 offer had not been made. If the application of this Section 12.4(f) to any tender offer would result in an increase in the Conversion
Price, no adjustment shall be made for such tender 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 Trading 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 Trading Price for each Trading Day prior to the
“ex” date for such other event shall be adjusted by multiplying such Trading 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 
  

 63 

 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 Trading Price for each Trading Day on and after the “ex” date for such other event shall be adjusted by multiplying such
Trading 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 Trading 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 of the Common Stock on any date shall be
deemed to be the average of the daily Trading 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 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 Trading Price for each Trading Day on and after the “ex” date for such other event shall be adjusted by multiplying such Trading 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 trades regular way on the relevant
exchange or in the relevant market from which the Trading Price was obtained without the right to receive such issuance or distribution; 
  
 (B) with respect to any subdivision or combination of shares of Common Stock, means the first date on which the Common Stock trades
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 trades 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. 
  

 64 

 (2) “fair market value” shall mean the amount which a willing buyer would pay a
willing seller in an arm’s length transaction which, in the absence of a current market for such transaction, shall be determined in good faith by the Board of Directors. 
  
 (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 stockholders 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; provided, however, that the Board of Directors shall not be permitted to reduce the Conversion Price pursuant to this sentence in such a manner that will violate NASD Rule 4350(i) or any similar or
successor rule then in effect. 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. 
  
 (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 (A) in any subsequent adjustment; (B) if and
when the Company has called the Securities for redemption pursuant to Article 10 or (C) on the Maturity Date. All calculations under this Article 12 shall be made by the Company and shall be made to the nearest cent or to the nearest
one-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 to the Holder of any Security converted after such Record Date
and before the occurrence of such event the additional shares of 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 shares 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 shares of Common Stock. The Company will not pay any dividend or make any distribution on shares of Common Stock held in the
treasury of the Company. 
  

 65 

 (l) If the distribution date for the rights provided in the Company’s rights
agreement, if any, occurs prior to the date a Security is converted, and the Holder of the Security who converts such Security after the distribution date is not entitled to receive the rights that would otherwise be attached (but for the date of
conversion) to the shares of Common Stock received upon such conversion, then an adjustment shall be made to the Conversion Price pursuant to Section 12.4(b) as if the rights were being distributed to the holders of Common Stock immediately prior to
such conversion. If such an adjustment is made and the rights are later redeemed, invalidated or terminated, then a corresponding reversing adjustment shall be made to the Conversion Price, on an equitable basis, to take account of such event.

  
 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. The Company shall also issue a press release through Dow Jones & Company,
Inc, Business Wire or Bloomberg Business News (or, if such organizations are not in existence at the time of issuance of such press release, such other news or press organization as is reasonably calculated to broadly disseminate the relevant
information to the public) containing the relevant information and make such information available on the Company’s web site or through another public medium as the Company may use at such time. Unless and until the Trustee and any Conversion
Agent other than the Trustee receive an Officer’s Certificate setting forth an adjustment to the Conversion Price, the Trustee and such Conversion Agent may assume without inquiry that the Conversion Price has not and is not required to be
adjusted and that the last Conversion Price of which the Trustee and such Conversion Agent have knowledge remains in effect. 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 affect 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 of the Company (other than a subdivision or combination of its outstanding Common Stock, a change in par value, a change from par 
  

 66 

 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 securities pursuant to Section 9.2, and shall cause to be provided to the Trustee and all Holders in accordance with Section 15.2, 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 
  
 (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 shares of 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 Securities, the full number of
shares of fully paid and nonassessable Common Stock then issuable upon the conversion of all Outstanding Securities. 
  
 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 shares of Common Stock on conversion of Securities pursuant hereto. A Holder delivering a Security for conversion 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 shares of Common Stock in a name other than that of the Holder of the Security or Securities to be converted, 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 shares of Common Stock which may be issued upon conversion of Securities will upon issuance be fully paid and nonassessable
and that the Company will pay all taxes, liens and charges with respect to the issuance thereof, except (1) as provided in Section 12.8 or (2) with respect to any liens or charges created by or imposed upon such Common Stock by the Holder of the
Security or Securities to be converted. 
  

 67 

 Section 12.10 Cancellation of Converted Securities. 
  
 All Securities 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 2.15. 
  
 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 shares of Common Stock (other than a change in par
value, or from par value to no par value, or from no par value to par value, or as a result of a subdivision or combination); 
  
 (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) with respect to or in exchange for such Common Stock; or 
  
 (iii) any sale or conveyance of the properties and assets of the Company as, or substantially as, an
entirety to any other corporation as a result of which holders of Common Stock shall be entitled to receive stock, securities or other property or assets (including cash) 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 such Security shall be
convertible into the kind and amount of shares of stock and other securities or property or assets (including cash) which such Holder would have been entitled to receive upon such reclassification, change, merger, consolidation, statutory share
exchange, combination, sale or conveyance had such Securities 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). 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 12. 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 shares 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 of the
Securities as the Board 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 11. 
  

 68 

 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 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 Cash Conversion Option. 
  
 (a) Subject to the Company’s right to irrevocably elect to make a cash payment of principal upon conversion pursuant to
Section 12.12(f), in lieu of delivery of shares of Common Stock in satisfaction of its obligation upon conversion of Securities, the Company may elect to deliver cash or a combination of cash and shares of Common Stock. Except to the extent that the
Company has irrevocably elected to make a cash payment of principal upon conversion pursuant to Section 12.12(f), the Company shall inform the Holders through the Trustee of the method it elects to satisfy its obligation upon conversion: 

 
 (1) if the Company has called the Securities for
redemption pursuant to Article 10, in its notice of redemption; 
  
 (2) in respect of Securities to be converted during the period beginning 25 Trading Days preceding the Maturity Date and ending one Trading Day preceding the Maturity Date, 26 Trading Days preceding the Maturity Date;
and 
  
 (3) in all other cases, no later than two
Trading Days following the conversion date. 
  
 (b) If the Company
elects to satisfy any portion of its conversion obligation in cash, the Company shall specify the amount to be satisfied in cash as a percentage of the conversion obligation or a fixed dollar amount. The Company shall treat all Holders converting on
the same Trading Day in the same manner. The Company shall not, however, have any obligation to settle its conversion obligations arising on different Trading Days in the same manner. 
  
 (c) If the Company elects to satisfy any portion of its conversion obligation in cash (other than cash in lieu of fractional
shares), a Holder may retract its conversion notices at any time during the two Trading Day period beginning on the Trading Day after the Company has notified the Trustee of its method of settlement (such period, the “Conversion Retraction
Period”). However, a Holder shall not be permitted to retract its conversion notice if: 
  
 (1) the Company has irrevocably elected to make a cash payment of principal upon conversion before such Holder delivered its conversion
notice; 
  
 (2) such Holder is converting its
Securities in connection with a redemption pursuant to Article 10; 
  

 69 

 (3) such Holder is converting its Securities during the period beginning 25 Trading Days
preceding the Maturity Date and ending one Trading Day preceding the Maturity Date; or 
  
 (4) the Company not elect to satisfy any portion of its conversion obligation in cash. 
  
 (d) Settlement in shares of our Common Stock shall occur as soon as
practicable after the Company has notified the Holders that it has elected this method of settlement. Settlement in cash or in a combination of cash and shares of Common Stock shall occur on the second Trading Day following the final Trading Day
(the “Determination Date”) of the Cash Settlement Averaging Period. The Determination Date shall be the 26th Trading Day following the Company’s receipt of a Holder’s conversion notice (if such Holder does not retract its conversion notice and has satisfied all other conversion requirements), unless conversion is: 
  
 (1) in connection with a redemption pursuant to Article 10,
in which case the Determination Date shall be the Redemption Date; 
  
 (2) subject to the succeeding clause (3), after the Company has irrevocably elected to make a cash payment of principal upon conversion, in which case the Determination Date shall be the 22nd Trading Day following the Company’s receipt of such Holder’s conversion notice; or 
  
 (3) during the period beginning 25 Trading Days preceding
the Maturity Date and ending one Trading Day preceding the Maturity Date, in which case the Determination Date shall be the Maturity Date. 
  
 (e) The settlement amount shall be computed as follows: 
  
 (1) If the Company elects to satisfy the entire conversion obligation in shares of Common Stock, the Company shall deliver to the Holder a
number of shares of Common stock equal to (i) the aggregate principal amount of Securities to be converted divided by (ii) the Conversion Price then in effect (substituting cash in lieu of fractional shares). 
  
 (2) If the Company elects to satisfy the entire conversion
obligation in cash, the Company shall deliver to the Holder cash in an amount (the “Cash-Only Settlement Amount”) equal to the product of: 
  
 (A) a number equal to (i) the aggregate principal amount of Securities to be converted divided by (ii) the Conversion Price then in
effect; and 
  
 (B) the Applicable Stock Price.

  
 (3) If the Company elects to satisfy the
conversion obligation in a combination of cash and shares of Common Stock, the Company shall deliver to the Holder: 
  
 (A) (i) the fixed dollar amount per $1,000 principal amount of Securities specified in the notice regarding the Company’s chosen
method of 
  

 70 

 settlement multiplied by the quotient of the aggregate principal amount of Securities to be converted
divided by 1,000 or (ii) the percentage of the conversion obligation specified in the notice regarding the Company’s chosen method of settlement multiplied by the amount of cash that would be paid pursuant to clause (2) above, as the case may
be (the “Cash Amount”); and 
  
 (B) a number of shares equal to (i) the Cash-Only Settlement Amount minus the Cash Amount divided by (ii) the Applicable Stock Price (substituting cash in lieu of fractional shares). 
  
 The “Applicable Stock Price” means, in respect of a Determination
Date, the average Closing Sale Price (as defined below) of the Common Stock over the 20 Trading Day period (the “Cash Settlement Averaging Period”): 
  
 (i) ending on the second Trading Day preceding the Redemption Date, if the Company has called the Securities
for redemption pursuant to Article 10; 
  
 (ii)
subject to the succeeding clause (iii), beginning on the Trading Day following the Company’s receipt of the Holder’s conversion notice, if the Company has irrevocably elected to make a cash payment of principal upon conversion; 

 
 (iii) ending on the second Trading Day preceding the
Maturity Date, with respect to conversion notices received during the period beginning 25 Trading Days preceding the Maturity Date and ending one Trading Day preceding the Maturity Date; and 
  
 (iv) beginning on the Trading Day following the final
Trading Day of the Conversion Retraction Period, in all other cases. 
  
 The “Closing Sale Price” of any share of Common Stock on any Trading Day means the closing sale price of such security (or if no closing sale price is reported, the average of the closing bid and closing ask prices or, if more
than one in either case, the average of the average closing bid and the average closing ask prices) on such date as reported in composite transactions for the principal United States securities exchange on which the Common Stock is traded or, if the
Common Stock is not listed on a United States national or regional securities exchange, as reported by the Nasdaq System or by the National Quotation Bureau Incorporated. In the absence of such a quotation, the Company shall determine the Closing
Sale Price on the basis it considers appropriate. 
  
 (f) At any
time on or prior to the 26th Trading Day preceding the Maturity Date, the Company may irrevocably elect to satisfy in cash its conversion obligation with respect to the principal amount of the Securities to be converted after the date of such
election, with any remaining amount to be satisfied in shares of Common Stock. Such election shall be in the Company’s sole discretion without the consent of the Holders. If the Company makes such election, the Company shall notify the Trustee
and the Holders at their addresses shown in the Register kept by the Registrar. 
  
 If the Company irrevocably elects to pay the principal amount of the Securities in cash upon conversion, the settlement amount shall be computed as follows: 
  
 (1) a cash amount equal to the lesser of (i) the aggregate
principal amount of Securities to be converted and (ii) the Cash-Only Settlement Amount; and 
  

 71 

 (2) if the Cash-Only Settlement Amount exceeds the aggregate principal amount of
Securities to be converted, a number of shares of Common Stock equal to (i) the Cash-Only Settlement Amount minus the aggregate principal amount of Securities to be converted divided by (ii) the Applicable Stock Price. 
  
 Section 12.13 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 of Securities 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 Security; and it or they do not
make any representation with respect thereto. Neither the Trustee, subject to the provisions of Section 5.1, 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 of stock or share certificates or other securities or property upon the surrender of any Security 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. 
  
 ARTICLE 13 
  
 MAKE-WHOLE PREMIUM 
  
 Section 13.1 Make-Whole
Premium. 
  
 (a) If a Fundamental Change occurs prior to
October 1, 2009, the Company shall pay the Make-Whole Premium, if any, to Holders of the Securities who surrender their Securities for repurchase in connection with such Fundamental Change pursuant to Section 11.1(b) or convert their Securities
pursuant to the Fundamental Change. The Make-Whole Premium, if any, shall be paid on the Fundamental Change Repurchase Date to Holders who exercise such repurchase right or conversion right. 
  
 (b) The “Make-Whole Premium” shall be determined as follows:
 
  
 (i) If the Effective Date is on or
after October 1, 2009, no Make-Whole Premium shall be paid; 
  
 (ii) If the Stock Price is less than or equal to $2.90 (subject to adjustment pursuant to Section 13.2) (the “Stock Price Threshold”), no Make-Whole Premium shall be paid; 
  
 (iii) If the Stock Price exceeds $9.66 (subject to
adjustment pursuant to Section 13.2) (the “Stock Price Cap”), no Make-Whole Premium shall be paid; and 
  
 (iv) In all other cases, the Make-Whole Premium shall be equal to a percentage (the “Additional Premium”) of the
principal amount of the Securities as described in Section 13.1(c)(iii) below. 
  

 72 

 (c) For purposes of Section 13.1(c), the following terms shall have the meaning indicated: 
  
 (i) “Effective Date” means the date that a
Fundamental Change becomes effective. 
  
 (ii)
“Stock Price” means the price paid per share of Common Stock in the transaction constituting the Fundamental Change, determined as follows: 
  
 (A) If holders of the Common Stock receive only cash in the transaction constituting the Fundamental Change, the Stock Price shall equal
the cash amount paid per share of Common Stock; and 
  
 (B) In all other cases, the Stock Price shall be the average of the daily Trading Prices per share of Common Stock for the ten consecutive Trading Day period ending on the Trading Day immediately preceding the Effective Date. 
  
 (iii) “Make-Whole Percentage” means the percentage
set forth on the table below (the “Make-Whole Table”) for the Stock Price and the Effective Date. 
  
 The following table illustrates what the Additional Premiums would be for various Stock Prices. 
  
 Additional Premium Upon Fundamental Change 
 (expressed as a percentage of principal amount) 
  

																																									
	 Effective Date

	  	Stock Price

	 
	 	  	$	2.90	 	 	$	3.41	 	 	$	3.92	 	 	$	4.42	 	 	$	5.02	 	 	$	5.72	 	 	$	6.67	 	 	$	7.56	 	 	$	8.56	 	 	$	9.66	 
	 	  	
	
	
	 	
	
	
	 	
	
	
	 	
	
	
	 	
	
	
	 	
	
	
	 	
	
	
	 	
	
	
	 	
	
	
	 	
	
	

	 September 22, 2004
	  	 	0.00	%	 	 	9.80	%	 	 	20.12	%	 	 	17.89	%	 	 	15.62	%	 	 	13.41	%	 	 	11.00	%	 	 	9.19	%	 	 	7.55	%	 	 	6.10	%
	 October 1, 2005
	  	 	0.00	%	 	 	9.15	%	 	 	19.07	%	 	 	16.54	%	 	 	14.01	%	 	 	11.61	%	 	 	9.07	%	 	 	7.24	%	 	 	5.65	%	 	 	4.31	%
	 October 1, 2006
	  	 	0.00	%	 	 	8.51	%	 	 	17.81	%	 	 	14.79	%	 	 	11.83	%	 	 	9.11	%	 	 	6.38	%	 	 	4.56	%	 	 	3.12	%	 	 	2.04	%
	 October 1, 2007
	  	 	0.00	%	 	 	8.07	%	 	 	16.55	%	 	 	12.73	%	 	 	8.74	%	 	 	4.70	%	 	 	0.00	%	 	 	0.00	%	 	 	0.00	%	 	 	0.00	%
	 October 1, 2008
	  	 	0.00	%	 	 	6.65	%	 	 	14.53	%	 	 	10.59	%	 	 	6.90	%	 	 	3.56	%	 	 	0.00	%	 	 	0.00	%	 	 	0.00	%	 	 	0.00	%
	 October 1, 2009
	  	 	0.00	%	 	 	0.00	%	 	 	0.00	%	 	 	0.00	%	 	 	0.00	%	 	 	0.00	%	 	 	0.00	%	 	 	0.00	%	 	 	0.00	%	 	 	0.00	%

  
 The exact Stock Price
and Effective Date may not be set forth on the table. In such event if the Stock Price is between two Stock Prices on the table or the Effective Date is between two dates on the table, the Additional Premium will be determined by straight-line
interpolation between Additional Premium amounts set forth for the higher and lower Stock Prices and the two dates, as applicable, based on a 365-day year. 
  
 (d) The Company will pay the Make-Whole Premium in the same form of consideration into which the Common Stock has been converted or exchanged in
connection with the Fundamental Change. If holders of the Common Stock have the right to elect the form of consideration received in the transaction constituting a Fundamental Change, then for purposes of determining the form of consideration to be
delivered in respect of the Make-Whole Premium, the consideration into which a share of Common Stock has been converted or exchanged shall be deemed to equal, in both form and amount, 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. 
  

 73 

 (e) For purposes of determining the value of the consideration to be issued in respect of the Make-Whole
Premium, the value will be calculated as follows: 
  
 (i) securities that are traded on a United States national securities exchange or approved for quotation on the Nasdaq National Market or any similar system of automated dissemination of quotations of securities prices will be valued based
on the average Closing Sale Price or last sale price, as applicable, over the ten Trading Day period ending on the Trading Day preceding the Fundamental Change Repurchase Date; 
  
 (ii) other securities, assets or property (other than cash) which holders will have the right to receive
will be valued based on 98% of 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 Trustee; and 
  
 (iii) 100% of any cash. 
  
 A calculation agent (the “Calculation Agent”) appointed from
time to time by the Company shall, on behalf of and on request by the Company or the Trustee, calculate (A) the Stock Price and (B) the Make-Whole Premium with respect to such Stock Price, based on the Effective Date specified by the Company or the
Trustee, and shall deliver its calculation of the Stock Price and Make-Whole Premium to the Company and the Trustee within three Business Days of the request by the Company or the Trustee. In addition, the Calculation Agent shall, on behalf of and
upon request by the Company or the Trustee no less than three Business Days prior to a Fundamental Change Repurchase Date, make the determinations described in Section 13.1(e)(i) above and deliver its calculations to the Company or the Trustee by 9
p.m. (New York City time) on the Trading Day preceding the Fundamental Change Repurchase Date. The Company, or at the Company’s request, the Trustee in the name and at the expense of the Company, (X) shall notify the Holders of the Stock Price
and Make-Whole Premium per $1,000 original principal amount of Securities with respect to a Fundamental Change as part of the Repurchase Event Purchase Notice delivered in connection with the Fundamental Change and (Y) shall notify the Holders
promptly by 9 a.m. (New York City time) on the Fundamental Change Repurchase Date of the number or amount of such securities, assets or property into which the shares of Common Stock have been converted or exchanged as of the Effective Date to be
paid in respect of the Make-Whole Premium in connection with such Fundamental Change, in the manner provided in Section 15.2, and the Company shall also publicly announce such information and publish it on the Company’s web site. Any notice so
given shall be conclusively presumed to have been duly given, whether or not the Holder receives such notice. 
  
 On or prior to the Fundamental Change Repurchase Date, the Company will deposit with the Paying Agent a number or an amount of securities, assets or
property sufficient to pay the Make-Whole Premium with respect to all the Securities to be repurchased on such date and all the Securities converted or exchanged in connection with such Fundamental Change; provided that if such payment is
made on the Fundamental Change Repurchase Date, it must be received by the Paying Agent by 10:00 a.m. (New York City time) on such date. 
  
 Section 13.2 Adjustments Relating to the Make-Whole Premium. 
  
 Whenever the Conversion Price shall be adjusted from time to time by the Company pursuant to Section 12.4, the Stock Price
Threshold and the Stock Price Cap shall be adjusted and each of the Stock Prices set forth in the Make-Whole Table shall be adjusted by multiplying each such amount by a fraction, the numerator of which is the Conversion Price immediately prior to
such adjustment and the denominator of which is the Conversation Price as so adjusted. 
  

 74 

 ARTICLE 14 
  
 SUBORDINATION 
  
 Section 14.1 Securities Subordinated to Senior Debt. 
  
 The Company covenants and agrees, and each Holder of Securities, by such Holder’s acceptance thereof, likewise covenants and agrees, that the
Indebtedness represented by the Securities and the payment of the principal of and premium, if any, and interest (including Additional Amounts, if any) on each and all of the Securities is hereby expressly subordinated and junior, to the extent and
in the manner set forth and as set forth in this Section 14.1, in right of payment to the prior payment in full of all Senior Debt. 
  
 (a) In the event of any distribution of assets of the Company upon any dissolution, winding up, liquidation or reorganization of the Company, whether in
bankruptcy, insolvency, reorganization or receivership proceedings or upon an assignment for the benefit of creditors or any other marshalling of the assets and liabilities of the Company or otherwise, the holders of all Senior Debt shall first be
entitled to receive payment in cash of the full amount due thereon in respect of all principal and premium, if any, and interest (including interest accruing after the commencement of any bankruptcy proceeding, regardless of whether such interest is
an allowed claim in such proceeding under such Senior Debt) before the Holders of any of the Securities are entitled to receive any payment or distribution of any character, whether in cash, securities or other property, on account of the principal
of or premium, if any, or interest (including Additional Amounts, if any), if any on the Indebtedness evidenced by the Securities. 
  
 (b) In the event of and during the continuance of any default in payment of the principal of or premium, if any, or interest on, rent or other payment
obligation in respect of, any Senior Debt, unless all such payments due in respect of such Senior Debt have been paid in full in cash or other payments satisfactory to the holders of Senior Debt, no payment shall be made by the Company with respect
to the principal of, premium, if any, or interest (including Additional Amounts, if any) on the Securities or to acquire any of the Securities (including any redemption, conversion or cash repurchase pursuant to the exercise of the Repurchase
Right). The Company shall give prompt written notice to the Trustee of any default under any Senior Debt or under any agreement pursuant to which Senior Debt may have been issued. 
  
 (c) During the continuance of any event of default with respect to any Designated Senior Debt, as such event of default is
defined under any such Senior Debt or in any agreement pursuant to which any Senior Debt has been issued (other than a default in payment of the principal of or premium, if any, or interest on, rent or other payment obligation in respect of any
Senior Debt), permitting the holder or holders of such Senior Debt to accelerate the maturity thereof (or in the case of any lease, permitting the landlord either to terminate the lease or to require the Company to make an irrevocable offer to
terminate the lease following an event of default thereunder), no payment shall be made by the Company, directly or indirectly, with respect to principal of, premium, if any, or interest on the Securities (including any Additional Amounts, if any),
including redemption, cash payment in lieu of conversion and repurchase payments, for 180 days following notice in writing (a “Payment Blockage Notice”) to the Company, from any holder or holders of such Senior Debt or their
representative or representatives or the trustee or trustees under any indenture or under which any instrument evidencing any such Senior Debt may have been issued, that such an event of 
  

 75 

 default has occurred and is continuing, unless such event of default has been cured or waived or such Senior Debt has
been paid in full; provided, however, that if the maturity of such Senior Debt is accelerated, no payment may be made on the Securities until such Senior Debt has been paid in full in cash or other payment satisfactory to the holders of such
Senior Debt or such acceleration has been cured or waived. 
  
 For
purposes of this Section 14.1(c), such Payment Blockage Notice shall be deemed to include notice of all other events of default under such indenture or instrument which are continuing at the time of the event of default specified in such Payment
Blockage Notice. The provisions of this Section 14.1(c) shall apply only to one such Payment Blockage Notice given in any period of 365 days with respect to any issue of Senior Debt, and no such continuing event of default that existed or was
continuing on the date of delivery of any Payment Blockage Notice shall be, or shall be made, the basis for a subsequent Payment Blockage Notice. 
  
 (d) In the event that, notwithstanding the foregoing provisions of Sections 14.1(a), 14.1(b) and 14.1(c), any payment on account of principal, premium, if
any, or interest (including Additional Amounts, if any) on the Securities shall be made by or on behalf of the Company and received by the Trustee, by any Holder or by any Paying Agent (or, if the Company is acting as its own Paying Agent, money for
any such payment shall be segregated and held in trust): 
  
 (i) after the occurrence of an event specified in Section 14.1(a), then, unless all Senior Debt is paid in full in cash, or provision shall be made therefor; 
  
 (ii) after the happening of an event of default of the type
specified in Section 14.1(b) above, then, unless the amount of such Senior Debt then due shall have been paid in full, or provision made therefor or such event of default shall have been cured or waived; or 
  
 (iii) after the happening of an event of default of the type
specified in Section 14.1(c) above and delivery of a Payment Blockage Notice, then, unless such event of default shall have been cured or waived or the 180-day period specified in Section 14.1(c) shall have expired; 
  
 such payment (subject, in each case, to the provisions of Section 14.7) shall be held in
trust for the benefit of, and shall be immediately paid over to, all holders of Senior Debt or their representative or representatives or the trustee or trustees under any indenture under which any instruments evidencing any of the Senior Debt, as
the case may be, may have been issued, as their interests may appear. 
  
 Section 14.2 Subrogation. 
  
 Subject to the
payment in full of all Senior Debt to which the Indebtedness evidenced by the Securities is in the circumstances subordinated as provided in Section 14.1, the Holders of the Securities shall be subrogated to the rights of the holders of such Senior
Debt to receive payments or distributions of cash, property or securities of the Company applicable to such Senior Debt until all amounts owing on the Securities shall be paid in full, and, as between the Company, its creditors other than holders of
such Senior Debt, and the Holders of the Securities, no such payment or distribution made to the holders of Senior Debt by virtue of this Article which otherwise would have been made to the holders of the Securities shall be deemed to be a payment
by the Company on account of such Senior Debt; provided, however, that the provisions of this Article are and are intended solely for the purpose of defining the relative rights of the Holders of the Securities, on the one hand, and
the holders of Senior Debt, on the other hand. 
  

 76 

 Section 14.3 Obligation of the Company is Absolute and Unconditional. 
  
 Nothing contained in this Article or elsewhere in this Indenture or in the
Securities is intended to or shall impair, as between the Company, its creditors other than the holders of Senior Debt, and the Holders of the Securities, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of
the Securities the principal of and premium, if any, and interest (including Additional Amounts, if any) on the Securities 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 of the Securities and creditors of the Company other than the holders of Senior Debt, nor shall anything contained herein or therein prevent the Trustee or the Holder of any Security from exercising all remedies
otherwise permitted by applicable law upon default under this Indenture, subject to the rights, if any, under this Article of the holders of Senior Debt in respect of cash, property or securities of the Company received upon the exercise of any such
remedy. 
  
 Section 14.4 Maturity of or Default on Senior Debt.

  
 Upon the maturity of any Senior Debt by lapse of time,
acceleration or otherwise, all principal of or premium, if any, or interest on, rent or other payment obligations in respect of all such matured Senior Debt shall first be paid in full, or such payment shall have been duly provided for, before any
payment on account of principal, or premium, if any, or interest (including Additional Amounts, if any) is made upon the Securities. 
  
 Section 14.5 Payments on Securities Permitted. 
  
 Except as expressly provided in this Article, nothing contained in this Article shall affect the obligation of the Company to make, or prevent the Company
from making, payments of the principal of, or premium, if any, or interest (including Additional Amounts, if any) on the Securities in accordance with the provisions hereof and thereof, or shall prevent the Trustee or any Paying Agent from applying
any monies deposited with it hereunder to the payment of the principal of, or premium, if any, or interest (including Additional Amounts, if any) on the Securities. 
  
 Section 14.6 Effectuation of Subordination by Trustee. 
  
 Each Holder of Securities, by such Holder’s acceptance thereof, authorizes and 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 and appoints the Trustee such Holder’s attorney-in-fact for any and all such purposes. 
  
 Upon any payment or distribution of assets of the Company referred to in this
Article, the Trustee and the Holders of the Securities shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which any such dissolution, winding up, liquidation or reorganization proceeding affecting the
affairs of the Company is pending or upon a certificate of the trustee in bankruptcy, receiver, assignee for the benefit of creditors, liquidating trustee or agent or other Person making any payment or distribution, delivered to the Trustee or to
the Holders of the Securities, for the purpose of ascertaining the Persons entitled to participate in such payment or distribution, and as to other facts pertinent to the right of such Persons under this Article, and if such evidence is not
furnished, the Trustee may defer any payment to such Persons pending judicial determination as to the right of such Persons to receive such payment. 
  

 77 

 Section 14.7 Knowledge of Trustee. 
  
 Notwithstanding the provision of this Article or any other provisions of this Indenture, the Trustee shall not be charged
with knowledge of the existence of any Senior Debt, of any default in payment of principal of, premium, if any, or interest on, rent or other payment obligation in respect of any Senior Debt, or of any facts which would prohibit the making of any
payment of monies to or by the Trustee, or the taking of any other action by the Trustee, unless a Responsible Officer of the Trustee having responsibility for the administration of the trust established by this Indenture shall have received written
notice thereof from the Company, any Holder of Securities, any Paying Agent or Conversion Agent of the Company or the holder or representative of any class of Senior Debt, and, prior to the receipt of any such written notice, the Trustee shall be
entitled in all respects to assume that no such default or facts exist; provided, however, that unless on the third Business Day prior to the date upon which by the terms hereof any such monies may become payable for any purpose the Trustee
shall have received the notice provided for in this Section 14.7, then, anything herein contained to the contrary notwithstanding, the Trustee shall have full power and authority to receive such monies and apply the same to the purpose for which
they were received, and shall not be affected by any notice to the contrary which may be received by it on or after such date. 
  
 Section 14.8 Trustee’s Relation to Senior Debt. 
  
 The Trustee shall be entitled to all the rights set forth in this Article with respect to any Senior Debt at the time held by it, to the same extent as
any other holder of Senior Debt and nothing in this Indenture shall deprive the Trustee of any of its rights as such holder. 
  
 Nothing contained in this Article shall apply to claims of or payments to the Trustee under or pursuant to Section 5.8. 
  
 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, 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 and the Trustee shall not be liable to any holder of Senior Debt if it shall pay over or deliver to Holders, the Company or any other Person monies or assets to
which any holder of Senior Debt shall be entitled by virtue of this Article or otherwise. 
  
 Section 14.9 Rights of Holders of Senior Debt Not Impaired. 
  
 No right of any present or future holder of any Senior Debt to enforce the subordination herein shall at any time or in any way be prejudiced or impaired
by any act or failure to act on the part of the Company or by any noncompliance by the Company with the terms, provisions and covenants of this Indenture, regardless of any knowledge thereof any such holder may have or be otherwise charged with.

  
 Section 14.10 Modification of Terms of Senior Debt.

  
 Any renewal or extension of the time of payment of any
Senior Debt or the exercise by the holders of Senior Debt of any of their rights under any instrument creating or evidencing Senior Debt, including without limitation the waiver of default thereunder, may be made or done all without notice to or
assent from the Holders of the Securities or the Trustee. 
  
 No
compromise, alteration, amendment, modification, extension, renewal or other change of, or waiver, consent or other action in respect of, any liability or obligation under or in respect of, or of 
  

 78 

 any of the terms, covenants or conditions of any indenture or other instrument under which any Senior Debt is outstanding
or of such Senior Debt, whether or not such release is in accordance with the provisions or any applicable document, shall in any way alter or affect any of the provisions of this Article or of the Securities relating to the subordination thereof.

  
 Section 14.11 Certain Conversions Not Deemed Payment.

  
 For the purposes of this Article 14 only: 
  
 (1) the issuance and delivery of junior securities upon (A)
conversion of Securities in accordance with Article 12 or (B) repurchase of Securities in accordance with Article 11 shall not be deemed to constitute a payment or distribution on account of the principal of, premium, if any, or interest (including
Additional Amounts, if any) on Securities or on account of the purchase or other acquisition of Securities; and 
  
 (2) the payment, issuance or delivery of cash (except in satisfaction of fractional shares pursuant to Section 12.3 or pursuant to Section
11.3), property or securities (other than junior securities) upon (A) conversion of a Security or (B) repurchase of Securities in accordance with Article 11 hereof shall be deemed to constitute payment on account of the principal of, premium, if
any, or interest (including Additional Amounts, if any) on such Security. 
  
 For
the purposes of this Section 14.11, the term “junior securities” means: 
  

	 	(a)	shares of any Common Stock of the Company; or 

  

	 	(b)	other securities of the Company that are subordinated in right of payment to all Senior Debt that may be outstanding at the time of issuance or delivery of such securities to
substantially the same extent as, or to a greater extent that, the Securities are so subordinated as provided in this Article. 

  
 Nothing contained in this Article 14 or elsewhere in this Indenture or in the Securities is intended to or shall impair, as among the Company, its creditors (other than
holders of Senior Debt) and the Holders of Securities, the right, which is absolute and unconditional, of the Holder of any Security to convert such Security in accordance with Article 12. 
  
 ARTICLE 15 
  
 OTHER PROVISIONS OF GENERAL APPLICATION 
  
 Section 15.1 Trust Indenture Act Controls. 
  
 This Indenture is subject to the provisions of the TIA which are required to
be part of this Indenture, and shall, to the extent applicable, be governed by such provisions. 
  
 Section 15.2 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 to the address
set forth below: 
  

			
	 (a)
	 	if to the Company:
	 	 	Vitesse Semiconductor Corporation
	 	 	741 Calle Plano
	 	 	Camarillo, California 93012
	 	 	Attention: Chief Financial Officer

  

 79 

			
	 with a copy to:
	 	 
	 	 	Davis Polk & Wardwell
	 	 	1600 El Camino Real
	 	 	Menlo Park, California 94025
	 	 	 Attention: Martin Wellington, Esq.

		
	 (b)
	 	if to the Trustee:
		
	 	 	U.S. Bank National Association
	 	 	EP-MN-WS3C
	 	 	60 Livingston Avenue
	 	 	St. Paul, Minnesota 55107-2292
	 	 	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. 
  
 Any notice or communication to a Holder shall be mailed by first-class mail to his address shown on the Register kept by the Registrar. 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 mails a notice or communication to Holders, it shall mail a copy to the Trustee at the same time. 
  
 Section 15.3 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 Securities or this Indenture. The Company, the Trustee, the Registrar and anyone else shall have the protection of Section 312(c) of the TIA. 
  
 Section 15.4 Acts of Holders of Securities. 
  
 (a) Any request, demand, authorization, direction, notice, consent, waiver
or other action provided by this Indenture to be given or taken by Holders of Securities 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; 
  

 80 

 (2) the record of Holders of Securities voting in favor thereof, either in person or by
proxies duly appointed in writing, at any meeting of Holders of Securities duly called and held in accordance with the provisions of Article 8; 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 Securities 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 Security, shall be
sufficient for any purpose of this Indenture and (subject to Section 5.1) 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 of Securities 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 Securities 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 Security shall bind every future Holder of the same Security and the Holder of every Security 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 or the Company in reliance thereon, whether or not notation of such action is made upon such Security. 
  
 Section 15.5 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 of the Company 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. 
  

 81 

 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 15.6 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 15.7 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 15.8 Successors and Assigns. 
  
 All
covenants and agreements in this Indenture by the Company shall bind its successors and assigns, whether so expressed or not. 
  
 Section 15.9 Separability Clause. 
  
 In case any provision in this Indenture or the Securities shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the
remaining provisions shall not in any way be affected or impaired thereby. 
  
 Section 15.10 Benefits of Indenture. 
  
 Nothing contained in this Indenture or in the Securities, express or implied, shall give to any Person, other than the parties hereto and their successors hereunder, the holders of Senior Debt and the Holders of
Securities, any benefit or legal or equitable right, remedy or claim under this Indenture. 
  

 82 

 Section 15.11 Section Governing Law. 
  
 THIS INDENTURE AND THE SECURITIES SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK BUT WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY. 
  
 Section 15.12 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 15.13 Legal Holidays. 
  
 In any case where any Interest Payment Date, Redemption Date, Repurchase Date or Stated Maturity of any Security or the last day on which a Holder of a
Security has a right to convert such Security shall not be a Business Day at any Place of Payment or Place of Conversion, then (notwithstanding any other provision of this Indenture or of the Securities) payment of interest (including Additional
Amounts, if any) or principal or premium, if any, or conversion of the Securities, need not be made at such Place of Payment or Place of Conversion on such day, but may be made on the next succeeding Business Day at such Place of Payment or Place of
Conversion with the same force and effect as if made on the Interest Payment Date, Redemption Date, Repurchase Date or at the Stated Maturity or on such last day for conversion; provided, however, 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, Redemption Date, Repurchase Date or Stated Maturity, as the case may be. 
  
 Section 15.14 Recourse Against Others. 
  
 No recourse for the payment of the principal of or premium, if any, or
interest (including Additional Amounts, if any) on any Security, 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, 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. 
  

 83 

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

			
	VITESSE SEMICONDUCTOR CORPORATION
		
	 By:
	 	 /s/ Louis R. Tomasetta

	 Name:
	 	 Louis R. Tomasetta

	 Title:
	 	 President and Chief Executive Officer

	
	 U.S. BANK NATIONAL ASSOCIATION,
 as
trustee and not in its individual capacity

		
	 By:
	 	 /s/ Lori-Anne Rosenberg

	 Name:
	 	 Lori-Anne Rosenberg

	 Title:
	 	 Assistant Vice President

  

 84 

 EXHIBIT A 
  

FORM OF SECURITY 
  
 [FACE OF SECURITY] 
  
 [GLOBAL SECURITY LEGEND]1 
  
 THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE REFERRED TO HEREIN.
THIS GLOBAL SECURITY MAY NOT BE EXCHANGED OR TRANSFERRED, IN WHOLE OR IN PART, FOR A SECURITY REGISTERED IN THE NAME OF ANY PERSON OTHER THAN DTC OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES SET FORTH IN THE INDENTURE. BENEFICIAL
INTERESTS IN THIS GLOBAL SECURITY MAY NOT BE TRANSFERRED EXCEPT IN ACCORDANCE WITH THE INDENTURE. 
  
 [RESTRICTED SECURITIES LEGEND]2 
  
 THE DEBENTURE EVIDENCED BY THIS CERTIFICATE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT
OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF EXCEPT AS SET FORTH IN THE FOLLOWING SENTENCE. BY ACQUISITION
HEREOF, THE HOLDER: 
  

	 	(1)	REPRESENTS THAT IT IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT; 

  

	 	(2)	REPRESENTS THAT IT IS PURCHASING FOR ITS OWN ACCOUNT OR THE ACCOUNT OF ONE OR MORE QUALIFIED INSTITUTIONAL BUYERS IN ACCORDANCE WITH RULE 144A; 

  

	 	(3)	AGREES THAT IT WILL NOT WITHIN TWO YEARS AFTER THE ORIGINAL ISSUANCE OF THIS DEBENTURE RESELL OR OTHERWISE TRANSFER THE DEBENTURE EVIDENCED HEREBY OR THE COMMON STOCK ISSUABLE UPON
CONVERSION OF SUCH DEBENTURE EXCEPT (A) TO THE COMPANY OR ANY SUBSIDIARY THEREOF, (B) TO A QUALIFIED INSTITUTIONAL BUYER IN COMPLIANCE WITH RULE 144A UNDER THE SECURITIES ACT, (C) PURSUANT TO THE EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144
UNDER THE SECURITIES ACT (IF AVAILABLE), OR (D) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED 

	1	Insert if the Security is a Global Security. 

	2	Insert if the Security is a Restricted Security. 

  

 A-1 

 EFFECTIVE UNDER THE SECURITIES ACT AND WHICH CONTINUES TO BE EFFECTIVE AT THE TIME OF SUCH TRANSFER; AND

  

	 	(4)	AGREES THAT IT WILL DELIVER TO EACH PERSON TO WHOM THE DEBENTURE EVIDENCED HEREBY IS TRANSFERRED (OTHER THAN A TRANSFER PURSUANT TO CLAUSE 3(D) ABOVE) A NOTICE SUBSTANTIALLY TO THE
EFFECT OF THIS LEGEND. 

  
 IN CONNECTION WITH ANY TRANSFER OF THE
DEBENTURE EVIDENCED HEREBY WITHIN TWO YEARS AFTER THE ORIGINAL ISSUANCE OF SUCH DEBENTURE (OTHER THAN A TRANSFER PURSUANT TO CLAUSE 3(D) ABOVE), THE HOLDER MUST CHECK THE APPROPRIATE BOX SET FORTH ON THE REVERSE HEREOF RELATING TO THE MANNER OF SUCH
TRANSFER AND SUBMIT THIS CERTIFICATE TO THE TRUSTEE (OR ANY SUCCESSOR TRUSTEE, AS APPLICABLE). IF THE PROPOSED TRANSFER IS PURSUANT TO CLAUSE 3(B) OR 3(C) ABOVE, THE HOLDER MUST, PRIOR TO SUCH TRANSFER, FURNISH TO THE TRUSTEE (OR ANY SUCCESSOR
TRUSTEE, AS APPLICABLE), SUCH CERTIFICATIONS, LEGAL OPINIONS OR OTHER INFORMATION AS THE COMPANY OR THE TRUSTEE MAY REASONABLY REQUIRE 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. THIS LEGEND WILL BE REMOVED UPON THE EARLIER OF THE TRANSFER OF THE DEBENTURE EVIDENCED HEREBY PURSUANT TO CLAUSE 3(D) ABOVE OR THE EXPIRATION OF TWO YEARS FROM THE ORIGINAL ISSUANCE OF THE DEBENTURE
EVIDENCED HEREBY. 
  

 A-2 

 VITESSE SEMICONDUCTOR CORPORATION 
  
 1.50% Convertible Subordinated Debenture due 2024 
 (the “Debentures”) 
  

			
	 	 	No.     
		
	CUSIP: [928497 AC 0]3	 	 Initial principal balance of this Debenture:
 $

  
 VITESSE SEMICONDUCTOR
CORPORATION, a Delaware corporation (the “Company”, which term includes any successor corporation under the Indenture hereinafter referred to), for value received, hereby promises to pay to
                     or its registered assigns, the principal sum listed on the Schedule of Increases or Decreases in Global Security attached
hereto on October 1, 2024. 
  
 Interest Payment Dates: April 1 and
October 1, commencing April 1, 2005 
  
 Regular Record Dates:
March 15 and September 15 
  
 Reference is hereby made to the
further provisions of this Security set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. 

	3	Insert if the Security is a Global Security. 

  

 A-3 

 IN WITNESS WHEREOF, the Company has caused this Security to be duly executed manually or by facsimile by
its duly authorized officers. 
  

					
	 Dated: September 22, 2004
	 	VITESSE SEMICONDUCTOR CORPORATION
			
	 	 	 By:
	 	  

	 	 	 Name:
	 	 
	 	 	 Title:
	 	 
			
	 	 	 By:
	 	  

	 	 	 Name:
	 	 
	 	 	 Title:
	 	 

  
 Trustee’s Certificate of
Authentication 
  
 This is one of the 1.50% Convertible Subordinated 

Debentures due 2024 described in the within-named 
 Indenture. 

 

			
	U.S. BANK NATIONAL ASSOCIATION,
	 as Trustee

  

			
	 By:
	 	  

	 	 	Authorized Signatory
	
	 Dated: September 22, 2004

  

 A-4 

 [REVERSE OF SECURITY] 
  
 VITESSE SEMICONDUCTOR CORPORATION 
  
 1.50% Convertible Subordinated Debenture due 2024 
  
 Capitalized terms used herein but not defined shall have the meanings assigned to them in the Indenture referred to below unless otherwise indicated.

  
 1. Principal and Interest. 
  
 Vitesse Semiconductor Corporation, a Delaware corporation (the
“Company”), promises to pay interest on the principal amount of this Security at the Interest Rate from September 22, 2004 until repayment at Maturity, redemption or repurchase. The Company will pay interest on this Security
semiannually in arrears on April 1 and October 1 of each year (each an “Interest Payment Date”), commencing April 1, 2005. 
  
 Interest on the Securities shall be computed (i) for any full semiannual period for which a particular Interest Rate is applicable on the basis of a
360-day year of twelve 30-day months and (ii) for any period for which a particular Interest Rate is applicable shorter than a full semiannual period for which interest is calculated, on the basis of a 30-day month and, for such periods of less than
a month, the actual number of days elapsed over a 30-day month. 
  
 A Holder of any Security at the close of business on a Regular Record Date shall be entitled to receive interest (including Additional Amounts, if any) on such Security on the corresponding Interest Payment Date. A Holder of any Security
which is converted after the close of business on a Regular Record Date and prior to the corresponding Interest Payment Date (other than any Security whose Maturity is prior to such Interest Payment Date) shall be entitled to receive interest on the
principal amount of such Security, notwithstanding the conversion of such Security prior to such Interest Payment Date. However, any such Holder which surrenders any such Security for conversion during the period between the close of business on
such Regular Record Date and ending with the opening of business on the corresponding Interest Payment Date shall be required to pay the Company an amount equal to the interest (including Additional Amounts, if any) on the principal amount of such
Security so converted, which is payable by the Company to such Holder on such Interest Payment Date, at the time such Holder surrenders such Security for conversion. Notwithstanding the foregoing, any such Holder which surrenders for conversion any
Security which has been called for redemption by the Company on a date that is after a Record Date but prior to the corresponding Interest Payment Date in a notice of redemption given by the Company pursuant to Section 10.4 of the Indenture shall be
entitled to receive (and retain) such interest (including Additional Amounts, if any) and need not pay the Company an amount equal to the interest on the principal amount of such Security so converted at the time such Holder surrenders such Security
for conversion. 
  
 In accordance with the terms of the Resale
Registration Rights Agreement, dated September 22, 2004 (the “Registration Rights Agreement”), between the Company and Lehman Brothers Inc., during the first 90 days following a Registration Default (as defined in the Registration
Rights Agreement), the Interest Rate borne by the Transfer Restricted Securities (as defined in Registration Rights Agreement) shall be increased by 0.25% on: 
  

(A) January 20, 2005, if the Shelf Registration Statement (as defined in the Registration Rights Agreement) is not filed prior to or on
January 20, 2005; 
  

 A-5 

 (B) March 21, 2005, if the Shelf Registration Statement is not declared effective by the
Securities and Exchange Commission prior to or on March 21, 2005; 
  
 (C) the day after the tenth Business Day after the Shelf Registration Statement, previously declared effective, ceases to be effective or fails to be usable, if a post-effective amendment (or report filed pursuant to
the Exchange Act) that cures the Shelf Registration Statement is not filed with the Securities and Exchange Commission during such five Business Day period; or 
  

(D) the day following the 45th or 60th day, as the case may be, of any period that the prospectus
contained in the Shelf Registration Statement has been suspended, if such suspension has not been terminated. 
  
 From and after the 91st day following such Registration Default, the Interest Rate
borne by the Transfer Restricted Securities shall be increased by an additional 0.25%. In no event shall the Interest Rate borne by the Transfer Restricted Securities be increased by more than 0.50%. 
  
 Any amount of additional interest will be payable in cash semiannually, in
arrears, on each Interest Payment Date and will cease to accrue on the earlier of (i) the date the Registration Default is cured and (ii) the day immediately prior to the date on which this Security ceases to be a Transfer Restricted Security. The
Holder of this Security is entitled to the benefits of the Registration Rights Agreement. 
  
 2. Method of Payment. 
  
 Interest on any Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the person in whose name that Security (or one or more Predecessor Securities) is registered at the close
of business on the Regular Record Date for such interest. 
  
 Principal of, and premium, if any, and interest (including Additional Amounts, if any) on, Global Securities will be payable to the Depositary in immediately available funds. 
  
 Principal and premium, if any, on Physical Securities will be payable at the office or agency of the Company maintained for
such purpose, initially the Corporate Trust Office of the Trustee. Interest (including Additional Amounts, if any) on Physical Securities will be payable by (i) U.S. Dollar check mailed to the address of the Person entitled thereto as such address
shall appear in the Register, 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 to an account within
the United States, which application will remain in effect until the Holder notifies, in writing, the Registrar to the contrary. 
  

 A-6 

 3. Paying Agent and Registrar. 
  
 Initially, U.S. Bank National Association, the Trustee under the Indenture,
will act as Paying Agent and Registrar. The Company may change the Paying Agent or Registrar without notice to any Holder. 
  
 4. Indenture. 
  
 The Company issued this Security under an Indenture, dated as of September 22, 2004 (the “Indenture”), between the Company and U.S. Bank
National Association, as trustee (the “Trustee”). The terms of the Security include those stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture Act of 1939, as amended (the
“TIA”). This Security is subject to all such terms, and Holders are referred to the Indenture and the TIA for a statement of all such terms. To the extent permitted by applicable law, in the event of any inconsistency between the
terms of this Security and the terms of the Indenture, the terms of the Indenture shall control. 
  
 5. Optional Redemption. 
  
 On or after October 1, 2009, the Company may, at its option, redeem this Security in whole at any time or in part from time to time, on any date prior to
Maturity, upon notice as set forth in Section 10.4 of the Indenture, at the Redemption Price (as defined in the Indenture) plus any interest (including Additional Amounts, if any) accrued and unpaid to, but excluding, the Redemption Date;
provided, however, that the Company may redeem this Security in whole at any time or in part from time to time, on any date after October 1, 2007 and prior to October 1, 2009, upon notice as set forth in Section 10.4 of the Indenture, at the
Redemption Price plus any interest (including Additional Amounts, if any) accrued and unpaid to, but excluding, the Redemption Date, if the closing sale price of the Company’s Common Stock (the “Common Stock”) has been at least
170% of the Conversion Price then in effect for at least 20 Trading Days (as defined in the Indenture) during any 30 consecutive Trading Day period. 
  
 Securities in original denominations larger than $1,000 may be redeemed in part. If any Security selected for partial redemption is converted in part
before termination of the conversion right with respect to the portion of the Security so selected, the converted portion of such Security shall be deemed to be the portion selected for redemption (provided, however, that the Holder of such
Security so converted and deemed redeemed shall not be entitled to any additional interest payment as a result of such deemed redemption than such Holder would have otherwise been entitled to receive upon conversion of such Security). Securities
which have been converted during a selection of Securities to be redeemed may be treated by the Trustee as Outstanding for the purpose of such selection. 
  
 On and after the Redemption Date, interest ceases to accrue on Securities or portions of Securities called for redemption, unless the Company defaults in
the payment of the Redemption Price. 
  
 Notice of redemption will
be given by the Company to the Holders as provided in the Indenture. 
  

 A-7 

 6. Repurchase at the Option of a Holder upon Specific Repurchase Dates or upon a
Fundamental Change. 
  
 On October 1, 2009, 2014 and 2019, (each,
a “Specific Repurchase Date”) each Holder shall have the right (the “Repurchase Right”), at the Holder’s option, to require the Company to purchase for cash, and upon the exercise of such right the Company
shall purchase, all of such Holder’s Securities not previously called for redemption, or any portion of the principal amount thereof that is equal to $1,000 or an integral multiple thereof as directed by such Holder pursuant to Section 11.3 of
the Indenture (provided that no single Security may be repurchased in part unless the portion of the principal amount of such Security to be Outstanding after such repurchase is equal to $1,000 or an integral multiple thereof), at a purchase
price equal to 100% of the principal amount of the Securities to be purchased (the “Repurchase Price”), plus accrued and unpaid interest and Additional Amounts, if any, on such Securities to, but excluding the Specific Repurchase
Date. Holders may submit their Securities for repurchase to the Paying Agent at any time from the opening of business on the date that is 20 Business Days prior to the applicable Specific Repurchase Date until the close of business on the Business
Day prior to the applicable Specific Repurchase Date. 
  
 In the
event that a Fundamental Change (as defined in the Indenture) (together with the Specific Repurchase Dates, “Repurchase Events”) shall occur, each Holder shall have the right, at the Holder’s option, but subject to the
provisions of Section 11.2 of the Indenture, to require the Company to repurchase, and upon the exercise of such right the Company shall repurchase, all of such Holder’s Securities not previously called for redemption, or any portion of the
principal amount thereof that is equal to $1,000 or an integral multiple thereof as directed by such Holder pursuant to Section 11.3 of the Indenture (provided that no single Security may be repurchased in part unless the portion of the
principal amount of such Security to be Outstanding after such repurchase is equal to $1,000 or an integral multiple thereof), on a date (the “Fundamental Change Repurchase Date” and, together with the Specific Repurchase Date, the
“Repurchase Date”) that is not less than 20 nor more than 35 Business Days after the date of the Repurchase Event Notice (as defined in the Indenture) for an amount equal to the sum of (i) the Repurchase Price plus accrued and
unpaid interest and Additional Amounts, if any, to, but excluding, the Fundamental Change Purchase Date (as defined in the Indenture) and (ii) the Make-Whole Premium (as defined in the Indenture), if any; provided, however, that installments
of interest on Securities whose Stated Maturity is prior to or on the Fundamental Change Purchase Date shall be payable to the Holders of such Securities, or one or more Predecessor Securities, registered as such on the relevant Regular Record Date
according to their terms and the provisions of Section 2.1 of the Indenture. 
  
 The Repurchase Price payable in the event of a Fundamental Change shall be payable at the Company’s option in the same forms of consideration that the Company may use in satisfaction of its obligation upon
conversion of the Securities pursuant to Article 12 of the Indenture, including cash, shares of Common Stock or a combination of cash and shares of Common Stock. However, if the Company has irrevocably elected to make a cash payment of principal
upon conversion pursuant to Section 12.12(f) of the Indenture, the Company shall repay the principal amount of the Securities repurchased in the event of a Fundamental Change in cash, with any remaining amount to be satisfied in shares of Common
Stock. 
  

 A-8 

 No fractional shares of Common Stock will be issued upon repurchase of any Securities. Instead of any
fractional share of Common Stock which would otherwise be issued upon conversion of such Securities, the Company shall pay a cash adjustment as provided in the Indenture. 
  
 7. Conversion Rights. 
  
 Subject to and upon compliance with the provisions of the Indenture, the Holder of Securities is entitled, at such
Holder’s option, at any time before the close of business on the Business Day immediately preceding October 1, 2024, to convert the Holder’s Securities (or any portion of the principal amount hereof which is an integral multiple of
$1,000), at the principal amount thereof or of such portion, into duly authorized, fully paid and nonassessable shares of Common Stock at the Conversion Price in effect at the time of conversion. 
  
 In the case of a Security (or a portion thereof) called for redemption, such
conversion right in respect of the Security (or such portion thereof) so called, shall expire at the close of business on the second Business Day preceding the Redemption Date, unless the Company defaults in making the payment due upon redemption.
In the case of a Fundamental Change for which the Holder exercises its Repurchase Right with respect to a Security (or a portion thereof), such conversion right in respect of the Security (or portion thereof) shall expire at the close of business on
the Business Day preceding the Repurchase Date. 
  
 The Conversion
Price shall be initially equal to $3.92 per share of Common Stock. The Conversion Price shall be adjusted under certain circumstances as provided in the Indenture. 
  
 To exercise the conversion right, the Holder must surrender the Security (or portion thereof) duly endorsed or assigned to
the Company or in blank, at the office of the Conversion Agent, accompanied by a duly signed conversion notice to the Company, with a copy to the Trustee. Any Security surrendered for conversion during the period from the close of business on any
Regular Record Date to the opening of business on the corresponding Interest Payment Date (other than any Security whose Maturity is prior to such Interest Payment Date), shall also be accompanied by payment in New York Clearing House funds or other
funds acceptable to the Company of an amount equal to the interest payable on such Interest Payment Date on the principal amount of the Securities being surrendered for conversion. 
  
 No fractional shares of Common Stock will be issued upon conversion of any Securities. Instead of any fractional share of
Common Stock which would otherwise be issued upon conversion of such Securities, the Company shall pay a cash adjustment as provided in the Indenture. 
  
 8. Subordination. 
  
 The Indebtedness evidenced by this Security is, to the extent and in the manner provided in the Indenture, subordinated and subject in right of payment to
the prior payment in full of all amounts then due on all Senior Debt of the Company, and this Security is issued subject to such provisions of the Indenture with respect thereto. Each Holder of this Security, by 
  

 A-9 

 accepting the same, (a) agrees to and shall be bound by such provisions, (b) authorizes and directs the Trustee on such
Holder’s behalf to take such action as may be necessary or appropriate to effectuate the subordination so provided and (c) appoints the Trustee such Holder’s attorney-in-fact for any and all such purposes. 
  
 9. Denominations; Transfer; Exchange. 
  
 The Securities are issuable in registered form, without coupons, in
denominations of $1,000 and integral multiples of $1,000 in excess thereof. A Holder may register the transfer or exchange of Securities in accordance with the Indenture. The Registrar may require a Holder, among other things, to furnish appropriate
endorsements and transfer documents and the Company may require a Holder to pay any taxes and fees required by law or permitted by the Indenture. 
  
 In the event of a redemption in part, the Company will not be required (a) to register the transfer of, or exchange, Securities for a period of 15
Business Days immediately preceding the date notice is given identifying the serial numbers of the Securities called for such redemption, or (b) to register the transfer of, or exchange, any such Securities, or portion thereof, called for
redemption. 
  
 In the event of redemption, conversion or
repurchase of the Securities in part only, a new Security or Securities for the unredeemed, unconverted or unrepurchased portion thereof will be issued in the name of the Holder hereof. 
  
 10. Persons Deemed Owners. 
  
 The registered Holder of this Security shall be treated as its owner for all purposes. 
  
 11. Unclaimed Money. 
  
 The Trustee and the Paying Agent shall pay to the Company any money held by
them for the payment of principal, premium, if any, or interest that remains unclaimed for two years after the date upon which such payment shall have become due. After payment to the Company, Holders entitled to the money must look to the Company
for payment as general creditors unless an applicable abandoned property law designates another Person, and all liability of the Trustee and such Paying Agent with respect to such money shall cease. 
  
 12. Discharge Prior to Redemption or Maturity. 

 
 Subject to certain conditions contained in the Indenture, the Company may
discharge its obligations under the Securities and the Indenture if (1) (a) all of the Outstanding Securities shall become due and payable at their scheduled Maturity within one year or (b) all of the Outstanding Securities are scheduled for
redemption within one year, and (2) the Company shall have deposited with the Trustee money and/or U.S. Government Obligations sufficient to pay the principal of, and premium, if any, and interest on, all of the Outstanding Securities on the date of
Maturity or redemption, as the case may be. 
  

 A-10 

 13. Amendment; Supplement; Waiver. 
  
 The Indenture permits, with certain exceptions as therein provided, the
amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Securities under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority in
aggregate principal amount of the Outstanding Securities (or such lesser amount as shall have acted at a meeting pursuant to the provisions of the Indenture). The Indenture also contains provisions permitting the Holders of specified percentages in
principal amount of the Securities at the time Outstanding, on behalf of the Holders of all the Securities, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their
consequences. Any such consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon registration of transfer hereof or in exchange
herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Security or such other Security. 
  
 No reference herein to the Indenture and no provision of this Security or of the Indenture shall alter or impair the obligation of the Company, which is
absolute and unconditional, to pay the principal of and premium, if any, and interest (including Additional Amounts, if any) on this Security at the times, places and rate, and in the coin or currency, herein prescribed or to convert this Security
(or pay cash in lieu of conversion) as provided in the Indenture. 
  
 14. Defaults and Remedies. 
  
 The Indenture provides that an Event of Default with respect to the Securities occurs when any of the following occurs: 
  
 (a) the Company defaults in the payment of the principal of or premium, if any, on any of the Securities when it becomes due and payable
at Maturity, upon redemption or exercise of a Repurchase Right or otherwise, whether or not such payment is prohibited by the subordination provisions of Article 14 of the Indenture; 
  
 (b) the Company defaults in the payment of interest (including Additional Amounts, if any) on any of the
Securities when it becomes due and payable and such default continues for a period of 30 days, whether or not such payment is prohibited by the subordination provisions of Article 14 of the Indenture; 
  
 (c) the Company fails to perform or observe any other term,
covenant or agreement contained in the Securities or the Indenture and such default continues for a period of 60 days after written notice of such failure is given as specified in the Indenture; 
  
 (d) the Company (i) defaults in the performance of any
covenant or agreement contained in any agreements, indentures or instruments under which the Company has incurred Indebtedness of $15,000,000 or more in the aggregate (not including any amounts the Company may owe under reimbursement or similar
obligations to banks, 
  

 A-11 

 sureties or other entities which have issued letters of credit, surety bonds, performance bonds or other
guarantees relating to the performance by the Company or its Subsidiaries of contractual obligations to customers, to the extent any demands made under any such reimbursement or similar obligation relate to a draw under the related letter of credit
or other instrument which draw is being contested in good faith through appropriate proceedings) whether such indebtedness now exists or shall hereafter be created, and (ii) such default has caused the holders of such Indebtedness to declare such
Indebtedness to be due and payable prior to its stated maturity and such Indebtedness has not been discharged in full or such acceleration has not been rescinded or annulled by the 30th day after written notice of such failure is given as specified in the Indenture; or 
  
 (e) there are certain events of bankruptcy, insolvency or reorganization of the Company. 
  
 If an Event of Default shall occur and be continuing, the principal of all
the Securities may be declared due and payable in the manner and with the effect provided in the Indenture. 
  
 15. Authentication. 
  
 This Security shall not be valid until the Trustee (or authenticating agent) executes the certificate of authentication on the other side of this
Security. 
  
 16. 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 entireties), 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). 
  
 17. Additional Rights of Holders of Transfer Restricted
Securities. 
  
 In addition to the rights provided to Holders
under the Indenture, Holders of Transfer Restricted Securities shall have all the rights set forth in the Registration Rights Agreement. 
  
 18. CUSIP Numbers. 
  
 Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures, the Company has caused CUSIP numbers to be
printed on this Security and the Trustee may use CUSIP numbers in notices of redemption as a convenience to Holders. No representation is made as to the accuracy of such numbers either as printed on this Security or as contained in any notice of
redemption and reliance may be placed only on the other identification numbers placed thereon. 
  

 A-12 

 19. Governing Law. 
  
 The Indenture and this Security shall be governed by, and construed in accordance with, the law of the State of New York.

  
 20. Successor Corporation. 
  
 In the event a successor corporation assumes all the obligations of the
Company under this Security, pursuant to the terms hereof and of the Indenture, the Company will be released from all such obligations. 
  
 21. Counterparts. 
  
 This Security 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. 
  

 A-13 

 ASSIGNMENT FORM 
  

To assign this Security, fill in the form below and have your signature guaranteed: (I) 
 or (we) assign and transfer this Security to: 
  

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

	
	

	
	

	
	

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

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

  

					
	 Dated:
                    
	 	Your Name:	 	  

	 	 	(Print your name exactly as it appears on the face of this Security)
			
	 	 	Your Signature:	 	  

	 	 	(Sign exactly as your name appears on the face of this Security)
			
	 	 	Signature Guarantee*:	 	  

	*	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). 

  

 A-14 

 In connection with any transfer of this Security occurring prior to the date which is the earlier of the end of the
period referred to in Rule 144(k) under the Securities Act of 1933, as amended (the “Securities Act”), the undersigned confirms that without utilizing any general solicitation or general advertising that: 
  
 [Check One] 
  

	[  ]  (a)  	this Security is being transferred in compliance with the exemption from registration under the Securities Act provided by Rule 144A thereunder, and that the transfer has been
effected pursuant to and in accordance with Rule 144A under the Securities Act and, accordingly, the undersigned does hereby further certify that the Securities are being transferred to a transferee that the undersigned reasonably believes is
purchasing the Securities for its own account, or for one or more accounts with respect to which such transferee exercises sole investment discretion, and such transferee and each such account is a “qualified institutional buyer” within
the meaning of Rule 144A, in each case in a transaction meeting the requirements of Rule 144A and in accordance with any applicable securities laws of any state of the United States. 

  
 or 
  

	[  ]  (b)  	this Security is being transferred other than in accordance with (a) above and documents are being furnished which comply with the conditions of transfer set forth in this Security
and the Indenture. 

  

 A-15 

 If none of the foregoing boxes is checked, the Trustee or other Registrar shall not be obligated to register this
Security in the name of any Person other than the Holder hereof unless the conditions to any such transfer of registration set forth herein and in Sections 2.7, 2.8 and 2.9 of the Indenture shall have been satisfied. 
  

			
	Dated:                    	 	

	 	 	NOTICE: The signature to this assignment must correspond with the name as written upon the face of the within-mentioned instrument in every particular, without alteration or any change
whatsoever.
		
	 	 	Signature Guarantee:
		
	 	 	
 Signature must be guaranteed by a participant in a recognized signature guaranty medallion program or other
signature guarantor acceptable to the Trustee.

  

 A-16 

 TO BE COMPLETED BY PURCHASER IF (a) ABOVE IS CHECKED. 
  
 The undersigned represents and warrants that: (a) it is purchasing this
Security for its own account or an account with respect to which it exercises sole investment discretion, in each case for investment and not with a view to distribution; (b) it and any such account is a “Qualified Institutional Buyer”
within the meaning of Rule 144A under the Securities Act of 1933; (c) it is aware that the sale to it is being made in reliance on Rule 144A; (d) it acknowledges that it has received such information regarding the Company as the undersigned has
requested pursuant to Rule 144A or has determined not to request such information; and (e) it is aware that the transferor is relying upon the undersigned’s foregoing representations in order to claim the exemption from registration provided by
Rule 144A. 
  

			
	Dated:                	 	

	 	 	NOTICE: To be executed by an executive officer

  

 A-17 

 EXHIBIT B 
  

FORM OF REPURCHASE EVENT PURCHASE NOTICE 
  

			
	 TO:
	 	VITESSE SEMICONDUCTOR CORPORATION
	 	 	741 Calle Plano
	 	 	Camarillo, California 93012
	 	 	Attn: Chief Financial Officer

  
 The undersigned
registered owner of this Security hereby irrevocably acknowledges receipt of a notice from Vitesse Semiconductor Corporation (the “Company”) as to the occurrence of a Fundamental Change with respect to the Company and requests and
instructs the Company to repay the entire principal amount of this Security, or the portion thereof (the principal amount of which is an integral multiple of $1,000) below designated, in accordance with the terms of the Indenture referred to in this
Security, together with interest (including Additional Amounts, if any) accrued and unpaid to, but excluding, such date, to the registered holder hereof. 
  
 The undersigned represents that, immediately following the repurchase described above, the undersigned will not own outstanding shares constituting more
than 19.9% of the outstanding shares of Common Stock. 
  

					
	 Dated:                    
	 	Your Name:	 	  

	 	 	(Print your name exactly as it appears on the face of this Security)
			
	 	 	Your Signature:	 	  

	 	 	(Sign exactly as your name appears on the face of this Security)
			
	 	 	Signature Guarantee:*	 	  

		
	 	 	Social Security or other Taxpayer
	 	 	Identification Number:	 	  

  
 Principal amount to be
repaid (if less than all): $ 

	*	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). 

  

 B-1 

 EXHIBIT C 
  

FORM OF CONVERSION NOTICE 
  

			
	 TO:
	 	VITESSE SEMICONDUCTOR CORPORATION
	 	 	741 Calle Plano
	 	 	Camarillo, California 93012
	 	 	Attention: Chief Financial Officer
		
	 COPY TO:
	 	U.S. BANK NATIONAL ASSOCIATION
	 	 	EP-MN-WS3C
	 	 	60 Livingston Avenue
	 	 	St. Paul, Minnesota 55107-2292
	 	 	Attention: Corporate Trust Administration (Vitesse Semiconductor Corporation 1.50% Convertible Subordinated Debentures due 2024)

  
 The undersigned
registered owner of this Security hereby irrevocably exercises the option to convert this Security, or the portion hereof (the principal amount of which is an integral multiple of $1,000) below designated, into shares of Common Stock in accordance
with the terms of the Indenture referred to in this Security, and directs that the shares issuable and deliverable upon such conversion, together with any check in payment for fractional shares and any Securities representing any unconverted
principal amount hereof, be issued and delivered to the registered holder hereof unless a different name has been indicated below. If shares or any portion of this Security not converted are to be issued in the name of a person other than the
undersigned, the undersigned will pay all transfer taxes payable with respect thereto. Any amount required to be paid to the undersigned on account of interest (including Additional Amounts, if any) accompanies this Security. 
  
 The undersigned represents that, immediately following the conversion
described above, the undersigned will not own outstanding shares constituting more than 19.9% of the outstanding shares of Common Stock. 
  

					
	Dated:                    	 	Your Name:	 	  

	 	 	(Print your name exactly as it appears on the face of this Security)
			
	 	 	Your Signature:	 	  

	 	 	(Sign exactly as your name appears on the face of this Security)
			
	 	 	Signature Guarantee*:	 	  

		
	 	 	Social Security or other Taxpayer
	 	 	Identification Number:	 	  

  

 C-1 

 Principal amount to be converted (if less than all): $ 

	*	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). 

  

 C-2 

 Fill in for registration of shares (if to be issued) and Securities (if to be delivered) other than to and in the name of
the registered holder: 
  

	
	
 (Name)

	
	
 (Street Address)

	
	
 (City, State and Zip Code)

  

 C-3 

 SCHEDULE OF INCREASES OR DECREASES IN GLOBAL SECURITY 
  
 The initial principal amount of this Global Security is
$            . The following increases or decreases of a part of this Global Security have been made: 
  

									
	 Date of Exchange

	  	Amount of decrease in
Principal Amount of
this Global Security

	  	Amount of increase in
Principal Amount of
this Global Security

	  	 Principal Amount of this
 Global Security
following such decrease
 (or
increase)

	  	 Signature of
Authorized officer of
 Trustee or
 Securities Coordinator

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